PIONEER BALANCED FUND
Supplement to Prospectus dated April 30, 1998
The following information supplements the corresponding section in the
Prospectus.
Mr. David Tripple, President and Chief Investment officer of Pioneering
Management Corporation ("PMC") and Executive Vice President of each Pioneer
mutual fund, has general responsibility for PMC's investment operations. Mr.
Tripple joined PMC in 1974. Ms. Theresa Hamacher, Senior Vice President of PMC,
oversees U.S. equity research and portfolio management.
Research and management for the Pioneer Balanced Fund (the "Fund") is the
responsibility of a team of portfolio managers and analysts that does research
for and oversees the management of other funds with similar objectives. Members
of the team meet regularly to discuss holdings, prospective investments and
portfolio composition.
Day-to-day management of the Fund's equity investments has been the
responsibility of Mr. William C. Field, a Vice President of PMC and the Fund
since January 1997. Mr. Field joined PMC in 1991 and has over six years of
investment experience. Mr. Sherman B. Russ, Senior Vice President of PMC,
together with Mr. Field is responsible for the day-to-day management of the
income investments of the Fund. Mr. Russ joined PMC in 1983 has over 15 years of
investment experience.
0698-5357
(C) Pioneer Funds Distributor, Inc.
