SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
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Pioneer International Growth Fund
(Name of Registrant as Specified in its Charter)
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Pioneer International Growth Fund
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LETTER FROM THE CHAIRMAN 5/31/00
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Dear Shareowner,
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As you may know, on May 15, 2000, The Pioneer Group, Inc. and UniCredito
Italiano S.p.A. announced an agreement under which UniCredito is expected to
purchase all of the outstanding stock of Pioneer Group. UniCredito is Italy's
largest banking group based on market capitalization. We are pleased to be
joining with UniCredito not only because of its reputation and breadth, but also
because of the similar business strategies shared by the two companies.
UniCredito employs many of the same investment philosophies that Pioneer has
believed in for over 70 years. In the meantime, your mutual fund will be managed
by the same portfolio management team, which is overseen by a Board of Trustees.
In addition, the union with UniCredito will give Pioneer Investment Management,
your fund's investment adviser, access to greater resources, enabling us to
strengthen and support our money management efforts for all Pioneer shareowners.
We expect that the transition resulting from the acquisition will not have
a direct impact on fund shareowners. At Pioneer we always strive to provide our
shareowners with exemplary customer service and a diverse product line. Going
forward, we will continue to work as hard as we can to ensure that our
investors' needs are met and that you are satisfied in any dealings you have
with Pioneer.
Soon you will receive a letter and a proxy statement that will contain more
information about the transaction along with information about a special
shareholder meeting. We are excited about the acquisition (which is subject to
regulatory approval) and hope you are as well. I feel confident about prospects
for the days ahead and I truly believe that Pioneer Group has entered into a
relationship that will be beneficial to you.
Please read this report closely, particularly the Portfolio Management
Discussion with Pavlos Alexandrakis. The Q&A in this section gives you the
opportunity to read about your Fund and its performance over the period covered
in the report. If you have questions, please contact your investment
professional or call Pioneer at 1-800-225-6292. You can also visit our web site
at www.pioneerfunds.com for more information.
Respectfully,
/s/ John F. Cogan, Jr.
John F. Cogan, Jr.
Chairman and President
