Pioneer Investment Management will venture into new territory with two new funds, the Boston-based company announced.
"The addition of these funds demonstrates our commitment to offering timely products that meet the needs of investors," said Charlie Mayer, U.S. director of portfolio management for Pioneer.
The Pioneer Growth Fund will be a portfolio of between 55 and 75 stocks that Pioneer analysts consider undervalued. Using the Russell 1000 Growth Index as their benchmark, Chris Galizio and Steve Balter will manage the fund, along with analysts based in Boston, Milan, Singapore and Dublin will work together to manage the large-cap fund, according to the company.
Piergaetano Iaccarino, of Pioneer's Global Equity Team in Dublin, and Neil Robson, Senior Portfolio Manager and Head of Global Equities in Boston will lead the new Pioneer Global Select Equity Fund.
Using the MSCI index as a benchmark, that fund will include between 40 and 60 large and mid cap stocks, with no more than 60 percent being U.S. companies. With common stocks, convertible bonds, depository receipts, warrants and other types of equity, the fund will focus on companies poised for "reasonable" rates of growth. "This fund is a valuable way to help diversify investor portfolios," Mayer said.