Heritage
The world of investing has changed considerably since 1928 and Pioneer Investments has been there from the start. We were the first to enter a variety of international markets and have been a leader in the industry with our innovative products and investment approach.
Innovation is our heritage. For almost 80 years, Pioneer Investments has been a leading innovator in the investment management industry. The history of Pioneer Investments began in 1928 when investing legend, Philip L. Carret, then a young journalist working for the business publication Barron’s, founded the Pioneer Fund™, the third oldest mutual fund in the United States.
Carret’s initial capital consisted of USD$25,000 pooled together from friends and family. Performing his own research, Carret analysed data and only invested in a company if its stock price did not reflect the company’s real value, and if he saw potential for recovery.
Today, the Fund maintains its value investing tradition, targeting undervalued, well-managed companies with strong products and solid growth potential. This longterm value-oriented, risk-managed approach has helped the Fund maintain an impressive track record. The Pioneer Fund™ has paid a dividend every year since its inception.
| 1928 | Philip L. Carret launches the Pioneer Fund™. |
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| 1951 | The Pioneer Fund’s assets exceed USD$1 million. The Fund has five hundred investors. |
| 1967 | Pioneer Investments is the first investment management firm to launch mutual investments in Italy. |
| 1969 | Pioneer Investments is the first foreign investment fund in Germany. |
| 1992 | Pioneer Investments markets the first open-ended fund in Poland. |
| 1995 | Pioneer Investments expands into the Czech Republic. |
| 1999 | A hedge fund family, later called Pioneer Alternative Investments, is launched. |
| 2000 | The Pioneer Group, Inc. is acquired by UniCredit, an Italian banking group. |
| 2001 | Pioneer Investments sets up an investment centre in Singapore. |
| 2002 | Pioneer Investments acquires Momentum. Established in 1986, Momentum was at the forefront of development of the fund of hedge funds industry. |
| 2003 | Pioneer Investments expands into Bulgaria and celebrates 75 years on February 13, 2003. |
| 2005 | International rating agency Fitch assigns Pioneer Investments a rating of AM2, and increases it to AM2+ the following year. |
| 2006 | Pioneer Investments and the investment managers of HypoVereinsbank are merged under the common umbrella of Pioneer Investments. Expansion into Hungary, Romania, Turkey and Russia. |
