March 13, 1996
SUPPLEMENT TO THE
PIONEER GROWTH SHARES PROSPECTUS
dated April 28, 1995
revised October 16, 1995
The following information supplements the corresponding section in the
Prospectus.
Management of the Fund
Each domestic equity portfolio managed by PMC, including Pioneer Growth
Shares, is overseen by an Equity Committee, which consists of PMC's most senior
equity professionals, and a Portfolio Management Committee, which consists of
PMC's domestic equity portfolio managers. Both committees are chaired by Mr.
David Tripple, PMC's President and Chief Investment Officer and Executive Vice
President of each of the Pioneer mutual funds. Mr. Tripple joined PMC in 1974
and has had general responsibility for PMC's investment operations and specific
portfolio assignments for over five years.
Mr. Jeffrey B. Poppenhagen, Portfolio Manager, assumed primary
responsibility for the day-to-day management of the Fund on February 20, 1996.
Mr. Poppenhagen joined PMC in February, 1996. Prior to joining PMC, Mr.
Poppenhagen was a portfolio manager and analyst for a number of equity
portfolios.
0396-3216
(C) Pioneer Funds Distributor, Inc.
