Past performance is not indicative of future results, a crucial disclaimer for any investor. While equity investments have historically offered higher returns, they inherently carry greater volatility and risk compared to fixed income investments. Fixed income options like corporate bonds provide a fixed principal value and return if held until maturity. Government bonds and Treasury securities offer a guarantee on the timely payment of interest and principal, unlike corporate bonds which do not carry the same guarantee.
It’s important to understand that historical investment results, such as those potentially associated with Amundi Pioneer Fund, are not typical and should not be seen as a predictor of future performance. Data from the S&P 500, which combines various indices over time, illustrates long-term equity performance. Initially, a 90-stock composite was used from 1926 until February 1957. Subsequently, S&P introduced the S&P 500, encompassing 425 industrials, 25 rails, and 50 utilities, with a weighting towards industrials. While the 500-stock index was formally calculated from March 1957, earlier data extending back to 1928 utilized the 90-share index and other older indices to provide a longer historical perspective.
Corporate bond performance is represented by the US Long-Term Corporate Bond Index up to March 31, 2022, transitioning to the ICE BofA 10+ Year US Corporate Bond Index due to the discontinuation of the former. Government bond performance is tracked by the US Long-Term Government Bond Index, and treasuries by the US 30-Day T-Bill Index. Inflation data is based on the Consumer Price Index, a general measure of inflation. It’s critical to note that these indices are unmanaged and their returns assume reinvestment of dividends. Unlike mutual fund returns, index returns do not account for fees or expenses. Direct investment in an index is not possible. Charts and data, such as those prepared by Amundi US concerning Amundi Pioneer Fund, are hypothetical and for illustrative purposes only. They do not represent the results of any specific investor’s actual experience with the Fund.
Source: Morningstar, Amundi US. The inception of Pioneer Fund’s A shares did not include an initial sales charge. This sales charge has varied throughout the Fund’s history and has sometimes exceeded the current 5.75% initial sales charge. It is crucial to reiterate that the historical results for Pioneer Fund since its inception are not typical, and investors should not anticipate similar future outcomes. These historical results span a significant period, where the effects of long-term holding and compounding substantially impacted the Fund’s return. Notably, no shareholders remain from the Fund’s original inception in 1928, highlighting the very long-term perspective of the data presented and the changes in market conditions over such extended periods.
