December 20, 1999
Supplement to the Prospectus of
Pioneer Independence Plans
dated May 3, 1999 (as revised August 20, 1999) and
Pioneer Independence Fund
dated May 3, 1999
The following supplements the corresponding sections of the
relevant prospectus. Please refer to the prospectus for the full text of the
supplemented section.
Pioneer Independence Plans
Additional information - sponsor
Steven Graziano replaced Stephen Long as a director and executive
vice president of Pioneer Funds Distributor, Inc. in November, 1999. Robert
Butler has announced that his retirement will be effective in January, 2000.
Pioneer Independence Fund
Other investment strategies
Investments in initial public offerings
To the extent consistent with its investment objective, the fund
may invest in initial public offerings of equity securities. The market for such
securities may be more volatile and entail greater risk of loss than investments
in more established companies. Investments in initial public offerings represent
a significant portion of the fund’s past investment performance. The Fund
cannot assure that investments in initial public offerings will continue to be
available to the fund or, if available, will continue to result in positive
investment performance. In addition, as the fund grows in size, the impact of
investments in initial public offerings on the overall performance of the
fund’s portfolio is likely to decrease.
77585-00-1299
© Pioneer Funds Distributor, Inc.
