January 4, 1999
SUPPLEMENT TO PROSPECTUS FOR
PIONEER BALANCED FUND
DATED APRIL 30, 1998
The following information supplements the corresponding section of the
Prospectus. Please consult the Prospectus for the full text of the supplemented
section.
INVESTMENT OBJECTIVE, POLICIES AND RISKS
The Investment Company Act of 1940 (the "1940 Act") requires that the Fund
segregate assets in connection with certain types of transactions. If the Fund
enters into a transaction requiring segregation the custodian or Pioneer
Investment Management, Inc. ("Pioneer Investments") will segregate liquid assets
in an amount required to comply with the 1940 Act. Such segregated assets will
be valued at market daily. If the aggregate value of such segregated assets
declines below the aggregate value required by the 1940 Act, additional liquid
assets will be segregated.
XI.DIVIDENDS, DISTRIBUTIONS AND TAXATION
Each business day the Fund declares a dividend consisting of substantially all
of its net investment income (earned interest income less expenses). Shares
being purchased will begin earning dividends on the first business day following
receipt of payment for purchased shares. Shares continue to earn dividends up to
and including the date of redemption. Dividends are normally paid on the last
business day of the month or shortly thereafter. Distributions from net
short-term capital gains, if any, may be paid with such dividends. The Fund's
policy is to make distributions from net long-term capital gains, if any, in
December. Dividends from income and/or capital gains may also be paid at such
other times as may be necessary for the Fund to avoid federal income or excise
tax.
0199-5839
Pioneer Funds Distributor, Inc.
