Pioneer Assetmaster Fund I


Fund Investment Objectives

Pioneer Assetmaster Fund's objective is to achieve substantial long-term capital appreciation without generally being dependent on or correlated with equity and bond market trends. The Fund intends to realize its objective by combining several hedge fund strategies within a relatively concentrated portfolio to gain exposure to various financial markets and sectors. The Fund seeks to achieve its investment objective by allocating its assets to a relatively concentrated portfolio of hedge funds employing trading-oriented strategies. Each of the Underlying Fund managers use one or more investment strategies, which - without limitations - may be grouped into broad categories defined as directional trading, relative value, long/short equity and multi-strategy.