Fund Currently Managed

Pioneer Mid Cap Value Fund/A (PCGRX), lead manager since January 1997.

Investment Style Overview

Hunts for undervalued stocks of companies with market caps of $1 billion to $10 billion that feature above-average financial fundamentals and management. Tries to identify a catalyst that will drive a stock’s price, such as improving fundamentals, or the sale of an asset.

Key Stock Selection Criteria

*Earnings and profit margins better than those of companies in the S&P 500.

*Priced at significant discount to company’s intrinsic worth.

*Catalyst to boost valuation.

Key Sell Criteria

*Valuation reaches or exceeds fair value.

*Company’s financial fundamentals erode.

Biographical Notes

L. Rodman Wright is a senior vice president and portfolio manager with Pioneer Management Co., his employer since 1994. He was previously an analyst and portfolio manager with Prudential Investment Advisors (1989 to 1994). Wright holds a BA in political science from Connecticut College, and an MBA from New York University. He is a Chartered Financial Analyst.