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Pioneer Investments: negative results for euro 880 million in January

Pioneer Investments: negative results for € 880 million in January
Usa, New Markets and Alternative Division are up but they are offset by Italy results

Net assets rise to €230 billion also due to the acquisition of Nordinvest

(data as of 31 January 2007)


Negative net flows of €883 million were achieved by Pioneer Investments in January. Total Assets under Management topped €230 billion also due to the acquisition of Nordinvest, which brings €5 billion, from HVB at the end of January.

Italy saw negative inflows of €787 million, in the month, in line with the industry. Total Net Assets under Management stood at €110.7 billion at the end of the month.
Market share is stable at 15.56% even after the worst month for the industry since September 2001.

Germany saw redemptions for €132 million. Total Asset under Management reached €49.8 billion.

The International division (ex Italy and Germany) saw negative flows of €79 million. Total Assets under Management reached €13 billion.

The US closed the month with positive sales of €23 million. Total Assets under Management stood at €48.3 billion ($62.5 billion).

New Markets division closed the month with positive sales of €92 million.
Total Assets under Management in this division reached €8.4 billion.

The Alternative Investments division (net flows and AuM data are included in the reported numbers for other divisions) reported positive flows of €40 million in January. Total Assets under Management in Hedge Funds reached €4,793 million.

The data reported in this release has been compiled on provisional numbers, and is, therefore susceptible to change


For more details:
Camilla Pedraglio
Head of Media Relations
Pioneer Investment Management SGRpA
Ph. +390276223228
Camilla.pedraglio@pioneerinvest.it
www.pioneerinvestments.it