Merrill Lynch Due Diligence Meeting October 2012, Boston. Delivering Solutions that Meet Client Needs

Transcription

1 Merrill Lynch Due Diligence Meeting October 2012, Boston Delivering Solutions that Meet Client Needs Sandro Pierri, Chief Executive Officer, Pioneer Investments For 2012 Merrill Lynch Due Diligence Meeting Attendees Only and Not to be Distributed to the Public

2 Agenda A Solid Platform A Forward-thinking Strategy A Renewed Partnership For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 2

3 A Well-Diversified Player with a Strong Expertise in Fixed Income AuM: 157bn 69% of our Funds in the 1 st /2 nd quartile* 40% of our Lux Funds have a 4/5 Star Morningstar rating Extensive industry recognition in 2012 by Channel by Asset Class Retail/ Private Banking 46% Balanced and Flexible 17% Alternative 1% Money Market 2% Fixed Income 60 % Institutional 25 % Equity 20% Wholesale 29 % Source: Pioneer Investments as at September * Data as at 29 August For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 3

4 An Investment Approach Aimed at Delivering Consistency and Value Searching For Value Active Risk Taking Assessing Risk Research 68 Career Analysts Focus on specific asset classes Portfolio Managers Active Approach High Conviction Risk Management Portfolio Construction Risk Budgeting Over experienced investment professionals For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 4

5 Solid Investment Performance Despite Unsettled Markets % of Funds in 1 st & 2 nd Quartile Lux & RIC Funds - Asset Class AUM ( Bn) 3Y 5Y 10Y Fixed Income 44 73% 74% 88% Balanced & Total Return 5 73% 64% 60% Equity 26 48% 47% 42% TOTAL (Percent of AUM above 1 st and 2 nd Quartile) % 60% 62% Over two thirds of Pioneer s Fixed Income Funds in Top 2 Quartiles Source: Pioneer Investments, 31 August Please note the lux funds in the asset classes in the above table are compared against their appropriate Morningstar GIFS peer groups. The US Ric s funds are compared against their appropriate Lipper peer groups.table includes all Luxembourg domiciled Pioneer Investments funds for which Pioneer Investment Management Limited acts as investment manager. The US Ric s funds are only available in the US.Risk Management. Analysis based on oldest and most representative share class for each location. Included in this analysis is a range of funds managed by Pioneer Investments. The fund ranges are domiciled in Luxembourg (not including institutional) ; the US; Italy; Poland; Austria and Germany (not including institutional). Please note, that the analysis is provided to illustrate the capabilities of the Pioneer Global Asset Management S.p.A. group of companies in general and does not pertain specifically to the Luxembourg-domiciled funds. Not all funds / fund ranges mentioned on this slide are available to all investors in all jurisdictions. Please contact your local Pioneer representative for further information. For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 5

6 Best-in-Class Across European & US Fixed Income, European Equity European & US Fixed Income 73% of Funds in Top 2 Quartiles over 3 years Recognition of outstanding performance Morningstar rating: Euro Bond, Euro Strategic Bond, U.S. Dollar Aggregate Bond, Strategic Income European Equity Strong products across European equities / Morningstar rating: Euroland Equity, Top European Players, Global Ecology, European Potential, Core European Equity, Emerging Europe and Mediterranean Equity Morningstar-nominated European Equity Fund Manager of The Year Stand-out products and a Long Tradition in US Equity Investing US Equity Strong returns - Morningstar rating: US Research,U.S. Fundamental Growth ; North American Basic Value Running the third-oldest mutual fund in the U.S. Pioneer Fund launched in 1928 Source: Pioneer Investments as at 30 September 2012 & Morningstar: The correct legal name of the sub-funds is with the prefix Pioneer Funds. For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 6

7 Agenda A Solid Platform A Forward-thinking Strategy A Renewed Partnership For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 7

8 A Forward-thinking Strategy Focused on: Greater Proximity: Distribution and Geographical Expansion Drive for excellence: Strengthening Investment Platform client Consistency of service: Best in Class Operational Implementation To provide you with our best services and solutions For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 8

9 Supporting you around the World Greater Proximity US Bigger retail sales team (+ 23%) Focus on institutional business Latin America Expanding in Mexico Asia Asian sales hub in Singapore Taiwan, building on existing strong platform Sales activities expanding into Korea Focus on institutional business Distribution & geographical expansion in key markets For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 9

10 Creating New, Compelling Opportunities for Clients Drive for excellence Strengthening our investment platform and broadening our capabilities New Emerging Markets Investment Hub In London New Specialized Investment Capabilities Stronger Research Teams Strong dedicated team, covering Asia, Latin America, Emerging Europe, the Middle East and Africa New Emerging Market strategies Very strong track record in Emerging Markets Bond recognized by several industry awards Boston: Global EAFE New investment talent to support the US Fixed Income, Equity and Global Equity teams High Dividend: European Equity Target Income Bottom-up and macro research support investment decisions across all hubs For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 10

11 Agenda A Solid Platform A Forward-thinking Strategy A Renewed Partnership For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 11

12 An established collaboration offering many opportunities Global Strategic Partnership since 2001 Delivering solutions to meet client needs For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 12

13 within the current market scenario Market Challenges Volatility Risk aversion Client Needs Transparency A forward-thinking strategy built on a solid platform For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 13

14 Important Information Unless otherwise stated all information contained in this document is from Pioneer Investments and is as at 28 September Morningstar Ratings: Copyright 2012 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) may not be copied or distributed; and (2) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Pioneer Funds (collectively the Funds ) are a fonds commun de placement with several separate sub-funds established under the laws of the Grand Duchy of Luxembourg. Past performance does not guarantee and is not indicative of future results. Unless otherwise stated, all views expressed are those of Pioneer Investments. These views are subject to change at any time based on market and other conditions and there can be no assurances that countries, markets or sectors will perform as expected. Investments involve certain risks, including political and currency risks. Investment return and principal value may go down as well as up and could result in the loss of all capital invested. More recent returns may be different than those shown. Please contact your local sales representative for more current performance results. This material is not a prospectus and does not constitute an offer to buy or a solicitation to sell any units of the Fund or any services, by or to anyone in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation. For additional information on the Fund, a free prospectus should be requested from Pioneer Global Investments Limited ( PGIL ), 1 George s Quay Plaza, George s Quay, Dublin 2, Ireland. Call Fax This information is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities or services in the United States or in any of its territories or possessions subject to its jurisdiction to or for the benefit of any United States person (being residents and citizens of the United States or partnerships or corporations organized under United States laws). The Fund has not been registered in the United States under the Investment Company Act of 1940 and units of the Fund are not registered in the United States under the Securities Act of This document is not intended for and no reliance can be placed on this document by retail clients, to whom the document should not be provided. The content of this document is approved by PGIL. In the UK, it is directed at professional clients and not at retail clients and it is approved for distribution by Pioneer Global Investments Limited (London Branch), Portland House 8th Floor, Bressenden Place, London, SW1E 5BH, authorised by the Central Bank in Ireland and regulated by the Financial Services Authority for the conduct of UK business. The Fund is an unregulated collective investment scheme under the UK Financial Services and Markets Act 2000 and therefore does not carry the protection provided by the UK regulatory system. Pioneer Funds Distributor, Inc., 60 State Street, Boston, MA ( PFD ), a U.S.-registered broker-dealer, provides marketing services in connection with the distribution of Pioneer Investments products. PFD markets these products to financial intermediaries, both within and outside of the U.S. (in jurisdictions where permitted to do so) for sale to clients who are not United States persons. For 2012 Merrill Lynch Due Diligence Meeting Attendees Only and Not to be Distributed to the Public. Pioneer Investments is a trading name of the Pioneer Global Asset Management S.p.A. group of companies. Date of First Use: 23 October 2012 For 2012 Merrill Lynch Due Diligence Attendees Only and Not to be Distributed to the Public Page 14