CHICAGO, Feb. 15, 2011 /PRNewswire/ -- The following Pioneer funds have earned a Zacks #1 Rank (Strong Buy), Pioneer Value A(PIOTX), Pioneer Bond A (PIOBX), Pioneer Oak Ridge Small Cap Growth A (ORIGX), Pioneer Classic Balanced A (AOBLX), and Pioneer Strategic Income A (PSRAX).
Established in 1928, Pioneer Investments has been one of the major advocates of the United States mutual fund industry. The company's flagship offering, the Pioneer fund is the third oldest mutual fund in the US. Managing over $185 billion of assets, the organization has a worldwide presence across 29 countries. Aside from mutual funds, it offers a vast range of investment solutions, to both individual and institutional investors. Quantitative and fundamental research is the basis of Pioneer's mutual fund portfolio construction process which is overseen by a team of approximately 370 investment professionals.
Pioneer Value A (PIOTX) searches for both current income and capital appreciation. The mutual fund acquires a vast range of appealingly priced securities, focusing on equity instruments. Not more than 25% of its assets may be invested in foreign securities. The fund has returned 10% over the last one year period.
John Rodman Peckham is the mutual fund manager and has managed this Pioneer mutual fund since 2010.
Pioneer Bond A (PIOBX) invests the greater part of its assets in government debt; corporate securities rated investment grade and cash equivalents. The mutual fund may invest greatly in asset-backed and mortgage related securities. The mutual fund has a three year annualized return of 7.2%.
The Pioneer mutual fund has a minimum initial investment of $1,000 and an expense ratio of 0.85% compared to a category average of 0.94%.
Pioneer Oak Ridge Small Cap Growth A (ORIGX) seeks long-term capital growth. It invests at least 80% of its assets in small-cap companies. It generally invests in equity securities such as common stocks and convertible securities. Up to 20% of its assets may be used to purchase foreign securities. The fund returned 28.92% in the last one year period.
David M. Klaskin is the fund manager has managed this Pioneer mutual fund since 1994.
Pioneer Classic Balanced A (AOBLX) invests 35% to 60% of its assets in equity and debt securities. Not more than 25% of its assets are invested in foreign securities. Up to 5% of its assets may be invested in securities issued from emerging markets. The fund has a five year annualized return of 4.54%.
As of December 2010, this Pioneer mutual fund held 401 issues, with 2.41% of its total assets invested in Teva Pharmaceutical Industries, Ltd. ADR.
Pioneer Strategic Income A (PSRAX) seeks current income. The fund invests a large portion of its assets in debt securities. It concentrates on acquiring debt securities issued by the U.S. government and related agencies, domestic and foreign corporate debt and asset backed securities. The mutual fund has a ten year annualized return of 8.13%.
The Pioneer mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.10% compared to a category average of 1.13%.
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SOURCE Zacks Investment Research, Inc.