November 1, 1999
SUPPLEMENT TO THE PROSPECTUS OF
PIONEER MICRO-CAP FUND
DATED MARCH 30, 1999
The following supplements the corresponding section of the prospectus.
PORTFOLIO MANAGER
Effective October 14, 1999, day-to-day management of the fund's portfolio
is the responsibility of a team of portfolio managers and analysts supervised by
Kenneth G. Fuller, Pioneer's small- and micro-cap team leader. This team manages
and provides research for the fund and other Pioneer mutual funds with similar
investment objectives or styles.
Mr. Fuller is a senior vice president of Pioneer. He joined Pioneer in
October 1999 and has been an investment professional since 1975. Prior to
joining Pioneer, Mr. Fuller was a principal and analyst at Manley Fuller Asset
Management from 1994 to 1999. Mr. Fuller and his team operate under the
supervision of Theresa A. Hamacher. Ms. Hamacher is chief investment officer of
Pioneer. She joined Pioneer in 1997 and has been an investment professional
since 1984; most recently as chief investment officer at another investment
adviser.
7401-00-1099
(C) Pioneer Funds Distributor, Inc.
