Pioneer was created in 1928 by Philip Carret with the launch of the first Pioneer fund, but the company now manages over $300 billion in assets as PGAM (Pioneer Global Asset Management). The company takes pride in its long-time global approach to investing with mutual funds: it was the first company to invest mutual fund assets in Italy, Germany, Poland and the Czech Republic. However, the majority of its assets are invested in domestic stocks and taxable bond funds.
Research the Pioneer Mutual Funds
Take into consideration Pioneer's focus on international investment. The company runs global investment offices in Boston, Dublin, Milan and Singapore.
Research the third oldest mutual fund in existence, the Pioneer Fund (PIODX), which is managed by John A. Carey. This large-blend fund allocates up to 20 percent of its assets to non-U.S. investments (such as equity and debt securities from both government and corporate issuers) in order to create income and capital appreciation. However, the fund limits the investment of assets in emerging market securities to 5 percent.
Make note of the Pioneer fund's performance. It has a 3-star rating from Morningstar and the annual returns from 2004 to 2006 have all been positive: the annual return was 16.39 percent in 2006, 6.39 percent in 2005 and 11.63 percent in 2004. The last negative annual return occurred in 2002: 20.26 percent.
Make sure you have at least $1,000, the minimum investment amount associated with this fund. Later investments must be at least $100.
Research one of Pioneer's top-performing mutual funds, the Pioneer High Yield Fund A (TAHYX), which is helmed by Andrew Feltus. This medium-growth high yield bond places 80 percent of its assets in fixed-income securities from companies that it considers undervalued. The goal is a combination of income and capital appreciation, and the inception date of this fund is 1998.
Take a moment to review the Morningstar 3-star rating as well as the fund's historic performance. The annual return for the Pioneer High Yield Fund A was 10.60 percent in 2006, 2.35 percent in 2005 and 6.75 percent in 2004. As usual, the last negative annual return (2.70 percent) was posted in 2002.
Arrange your finances so you have $1,000 for the minimum investment and $100 for subsequent investments in this particular Pioneer fund.
Look at any of Pioneer's 160 or so mutual funds for more info on this company, its products and services. They offer everything from large-growth funds to medium-value funds to small-blend funds.
- When you research potential funds for your investment portfolio, make sure to diversify between those funds that focus on national and international opportunities. Most experts suggest allocating approximately 30 to 50 percent of your money in funds that focus on overseas investment options.
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