October 25, 2000
SUPPLEMENT TO THE PROSPECTUSES FOR
FUND DATED
Pioneer II January 28, 2000
Pioneer Mid-Cap Fund January 28, 2000
Pioneer Strategic Income Fund January 28, 2000
Pioneer High Yield Fund February 25, 2000
Pioneer Europe Fund February 28, 2000
Pioneer Indo-Asia Fund February 28, 2000
Pioneer Mid-Cap Value Fund February 28, 2000
Pioneer Equity-Income Fund February 28, 2000
Pioneer Small Company Fund February 28, 2000
Pioneer Limited Maturity Bond Fund March 29, 2000
Pioneer Emerging Markets Fund March 29, 2000
Pioneer International Growth Fund March 29, 2000
Pioneer Micro-Cap Fund March 29, 2000
Pioneer Science & Technology Fund March 31, 2000
Pioneer Fund May 1, 2000
Pioneer Cash Reserves Fund May 1, 2000
Pioneer America Income Trust May 1, 2000
Pioneer Real Estate Shares May 1, 2000
Pioneer Growth Shares May 1, 2000
Pioneer Balanced Fund May 1, 2000
Pioneer Tax-Free Income Fund May 1, 2000
Pioneer World Equity Fund July 31, 2000
Pioneer Bond Fund September 29, 2000
Pioneer Tax-Managed Fund November 18, 1999
The following supplements the information presented under the corresponding
section of the prospectus. All references in the supplemented prospectus to The
Pioneer Group, Inc. are changed to Pioneer Investment Management USA Inc.
MANAGEMENT
The next paragraph replaces the section entitled "Pioneer Group":
PIONEER GLOBAL ASSET MANAGEMENT
Pioneer is part of Pioneer Global Asset Management, the asset management
subsidiary of UniCredito Italiano S.p.A., one of the largest banking groups in
Italy. Pioneer Global Asset Management provides investment management and
financial services to mutual funds, institutional and other clients. As of
October 25, 2000, Pioneer Global Asset Management has over $100 billion in
assets under management worldwide, including over $23 billion in assets under
management by Pioneer.
INVESTMENT ADVISER
Pioneer's main office is at 60 State Street, Boston, Massachusetts 02109.
PROSPECTUSES FOR STRATEGIC INCOME, LIMITED MATURITY BOND, CASH RESERVES, TAX-
FREE INCOME FUNDS AND AMERICA INCOME TRUST:
PORTFOLIO MANAGER
Sherman Russ intends to retire from Pioneer in December 2000. Kenneth Taubes
remains the head of Pioneer's fixed income team.
PROSPECTUS FOR SCIENCE & TECHNOLOGY FUND:
Thomas Crowley is the fund's lead portfolio manager.
9387-00-1000
(C) Pioneer Funds Distributor, Inc.
