SUPPLEMENT TO THE PROSPECTUS OF
PIONEER BALANCED FUND
DATED MAY 3, 1999
The following information supplements the corresponding section of the
prospectus.
PORTFOLIO MANAGER
Effective October 25, 1999, day-to-day management of the fund is the
responsibility of a team of portfolio managers and analysts supervised by
Theresa A. Hamacher, chief investment officer of Pioneer. This team manages and
provides research for the fund and other Pioneer mutual funds with similar
investment objectives or styles. Tin Chan, vice president of Pioneer, is manager
of the team focusing on the equity portion of the fund.
Ms. Hamacher joined Pioneer in 1997 and has been an investment professional
since 1984; most recently as chief investment officer at another investment
adviser. Mr. Chan joined Pioneer in August 1998 and has been an investment
professional since 1993. Prior to joining Pioneer, Mr. Chan was an Equity
Portfolio Manager with Allmerica Financial from 1995 to 1998 and was an Equity
Research Analyst with Key Corp. from 1993 to 1995.
