Opportunities Beyond a Precarious Path

    

Quality is the Compass

In the current environment of high levels of inflation and interest rate rises, we believe investors should consider equity investments that seek to provide a unique combination of structural growth potential, quality, stability and relative valuation support. Careful selection is key to finding equities that could be poised for outperformance.

   

Help Equity Investors Keep Their Course in Volatile Markets

Investors searching for ways to reduce portfolio risk in volatile markets could head in the wrong direction and sacrifice growth potential. When market noise rises, we believe in pursuing equity investments that seek to provide quality through structural growth potential, stability and relative valuation support. Careful selection is key to finding equities that could be poised for outperformance.

Marco Pirondini, Head of Equities, US and Portfolio Manager at Amundi US, provides his outlook for the Equity Markets.

Careful equity selection can lead to opportunities

Ninety Percent of S&P 500 Is at Historically Low Valuations | The largest stocks in the S&P 500 have driven the returns of the index in recent years, skewing upwards the most common gauge of expensiveness of stocks – the price/earnings ratio (P/E). Excluding the megacaps, stocks of the S&P 500 are now trading at their biggest discount since the early 2000’s, presenting a potentially opportunistic tailwind for active management.

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Source: Bank of America (BofA). Last data point as of 7/31/23. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.

   

Opportunities to Explore

A Flexible Core Fund Pursuing Sustainable Growth

The Fund flexibly allocates to both value and growth companies via a nimble portfolio designed to help investors navigate transitions between equity styles. The Fund's portfolio managers integrate ESG analysis1 into their investment process and evaluate ESG-related risks.

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Looking for Growth but Concerned About Volatile Markets?

The Fund seeks long-term capital growth by investing primarily in US large capitalization companies. We believe investing in quality stocks at attractive valuations can generate attractive risk-adjusted returns over time.

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More Opportunities to Explore

   

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Please visit our Mutual Fund  page to find our full list of mutual funds.

1The Fund generally excludes corporate issuers that do not meet or exceed minimum ESG standards. Excluding specific issuers limits the universe of investments available to the Fund, which may mean forgoing some investment opportunities available to funds without similar ESG standards.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

Securities offered through Amundi Distributor US, Inc.
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Underwriter of Pioneer mutual funds, Member   SIPC.   

Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc.  Form CRS         Amundi Distributor US, Inc.  Form CRS 

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