Socially Responsible Investments (SRI)
By becoming a signatory to the United Nations Principles for Responsible Investment (UNPRI) in March 2009,
Pioneer Global Asset Management SpA joined an initiative launched by the UN Secretary-General to advance six
best-practice principles among asset owners and investment managers. In alignment with its commitment to the
UNPRI, Pioneer Global Asset Management SpA expanded its Proxy Voting Policy to include environmental, social and
corporate governance (ESG) issues.
Moreover, Pioneer Global Asset Management SpA has defined its search, investment, control and monitoring processes
to ensure their alignment with the transparency guidelines of the European Sustainable Investment Forum (Eurosif).
Pioneer Global Asset Management SpA provides several asset-management products that are designed to
maximize returns while adhering to ethical and sustainable principles:
• Pioneer Obbligazionario Euro Corporate Etico a distribuzione (“Euro Bond Ethical Corporate Fund”)
The fund’s investment strategy is designed to achieve capital appreciation over the medium term. This is
accomplished by investing in fixed income instruments issued by companies with business models that meet
high standards of social, human and ecological responsibility.
• Pioneer Funds – Global Ecology – E Class
The fund’s investment strategy is designed to achieve capital appreciation over the medium-to-long term.
This is accomplished by investing at least two-thirds of the fund’s assets in a range of equities and equity-
linked instruments issued by companies manufacturing or producing environmentally friendly products or
technologies that help to create a cleaner, healthier environment. Such companies include those operating
in the fields of air pollution control, alternative energy, recycling, waste incineration, wastewater treatment,
water purification and biotechnology.
• Pioneer Funds Austria – Ethik Fonds
This is a balanced fund designed to achieve long-term capital growth while generating regular returns. The basic fund
portfolio is composed of 30 percent global equities and 70 percent euro bonds. An investment is considered “ethical”
when the issuer’s business model meets established sustainability standards.
Fund performance (%)
One year Three years annualized
(as of Dec. 31, 2012) (as of Dec. 31, 2012)
Fund Benchmark Fund Benchmark
Pioneer Obbligazionario Euro Corporate
14.97 13.85 5.82 6.16
Etico a distribuzione
Pioneer Funds – Global Ecology – E Class 17.07 14.05 3.53 9.98
Pioneer Funds Austria – Ethik Fonds 9.6 not availableA
4.3 not availableA
A. The Fund has no declared benchmark in the Prospectus.
Assets subject to positive and negative environmental or social screening (in € million)
Assets under Assets under
management management
(as of Dec. 31, 2012) (as of Dec. 31, 2011)
Pioneer Obbligazionario Euro Corporate Etico a distribuzione 237.6 180
Pioneer Funds – Global Ecology – E Class 901.3 870
Pioneer Funds Austria – Ethik Fonds 21.7 20.22
Total assets under management at Pioneer Global Asset Management
157,916 162,063
SpA, including regular funds
UniCredit · 2012 Sustainability Report 51