Source: Pioneer Investments, unless otherwise stated. All data as at 31.08.2007. The performance was calculated on base of share class A, EUR, non-distributing (luxembourg sub-fund of Pioneer Funds), i.e. without consideration of transaction costs. The risk/return class refers to the perspective of a Euro-Investor. Past performance does not guarantee future results.

The performances of Pioneer Funds - Global Select and Pioneer Funds - European Potential refer to the former funds Activest GlobalSelect and Activest EuropaPotenzial, which have become the share classes A EUR ND of the Pioneer Funds on 30.03.2007.