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Pioneer Fund and Pioneer Classic Balanced Fund incorporate specific ESG criteria in their prospectuses as part of their focus on companies with sustainable business models and their evaluation of ESG-related risks in their security selection process. The funds generally exclude corporate issuers that do not meet or exceed minimum ESG standards. 

With ESG considerations at the center of our proprietary research process, many of our funds have competitive Sustainability Ratings from Morningstar. 

 

Morningstar Ratings | Strength Across the Board

Morningstar
Sustainability RatingsTM

September 30, 2018

Environmental, Social and Governance (ESG) factors are fundamental to the investment decisions made across Amundi Pioneer’s family of mutual funds.


The Morningstar Sustainability RatingTM is intended to measure how well the companies of the securities within a fund’s portfolio are managing their environmental, social and governance risks and opportunities relative to the fund’s Morningstar category peers.

Sustainability RatingsTM

Universe /
% of AUM

LARGE BLEND

Pioneer Core Equity Fund

1,430 / 98.18%

LARGE GROWTH

Pioneer Disciplined Growth Fund

1,439 / 96.91%

LARGE VALUE

Pioneer Disciplined Value Fund

1,263 / 97.72%

LARGE VALUE

Pioneer Equity Income Fund

1,263 / 99.09%

LARGE BLEND

Pioneer Fund

1,430 / 96.37%

LARGE GROWTH

Pioneer Fundamental Growth Fund

1,439 / 98.77%

MID-CAP VALUE

Pioneer Mid Cap Value Fund

423 / 99.90%

ALLOCATION 50% TO 70% EQUITY

Pioneer Classic Balanced Fund

792 / 80.33%

TACTICAL ALLOCATION

Pioneer Flexible Opportunities Fund

285 / 79.50%

WORLD LARGE STOCK

Pioneer Global Equity Fund

915 / 96.49%

FOREIGN LARGE BLEND

Pioneer International Equity Fund

775 / 94.12%





Important Information

Morningstar Sustainability Ratings™ and Scores™
Sustainability Scores and Ratings as of July 31, 2018. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. The Morningstar® Sustainability Rating is intended to measure how well the issuing companies of the securities within a fund’s portfolio are managing their environmental, social, and governance (“ESG”) risks and opportunities relative to the fund’s Morningstar category peers. The Morningstar Sustainability Rating calculation is a two-step process. First, each fund with at least 50% of assets covered by a company-level ESG score from Sustainalytics¹ receives a Morningstar® Portfolio Sustainability Score™. The Morningstar Portfolio Sustainability Score is an asset-weighted average of normalized company-level ESG scores with deductions made for controversial incidents by the issuing companies, such as environmental accidents, fraud, or discriminatory behavior.

The Morningstar Sustainability Rating is then assigned to all scored funds within Morningstar Categories in which at least ten (10) funds receive a Portfolio Sustainability Score and is determined by each fund’s rank within the following distribution:

• High (highest 10%)  • Above Average (next 22.5%)  • Average (next 35%)  • Below Average (next 22.5%) and  • Low (lowest 10%)

The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. A Sustainability Rating is assigned to any fund that has more than half of its underlying assets rated by Sustainalytics and is within a Morningstar Category with at least 10 scored funds; therefore, the rating it is not limited to funds with explicit sustainable or responsible investment mandates. Morningstar updates its Sustainability Ratings monthly. Portfolios receive a Morningstar Portfolio Sustainability Score and Sustainability Rating one month and six business days after their reported as-of date based on the most recent portfolio. As part of the evaluation process, Morningstar uses Sustainalytics’ ESG scores from the same month as the portfolio as-of date. Please click on http://corporate1.morningstar.com/SustainableInvesting for more detailed information about the Morningstar Sustainability Rating and its calculation.

¹Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm and is not an affiliated company of Morningstar, Inc.
USCEXP-2019-09-18-ADID-604693-CLC-1Y-T