With the goal of generating strong risk-adjusted returns, the Strategy invests in companies globally where we believe the upside potential is significantly greater than the downside risk.

We believe that:

• Sources of market inefficiencies vary over time. The best way to capitalize on these inefficiencies and pursue attractive risk-adjusted returns is through an integrated approach that combines fundamental bottom-up research and a top-down view of the global macroeconomic landscape in a well-diversified¹ portfolio.
• Quality companies outperform. Quality companies are companies that have sustainable competitive advantages and can produce strong, unlevered returns on equity compared to their peers. Investing in attractively valued, high-quality companies can further contribute to strong risk-adjusted returns over time.

Key features of our Pioneer International Equity Strategy include:

• Experienced investment team:
  • Members boast over 20 years of investment experience
• Integrated top-down, bottom-up investment approach:
  • Regular collaboration among portfolio managers and analysts
  • Central location for shared research and analysis
• Focus on quality and active management:
  • Bottom-up, fundamental analysis complemented by global macro insights
  • Historic outperformance over time without additional risk
• Comprehensive risk management:
  • Risk management at all levels of the investment process
  • Disciplined sell process evaluates holdings regularly based on multiple criteria