Pioneer Investments: global net inflows of 1,7 billion in July

GLOBAL NET INFLOWS OF 1.7 BILLION EURO IN JULY 2006
STRONG PUSH FROM US AND GERMANY
(Data as of 30 July 2006)


Milan, 10 August 2006 - Pioneer Investments saw positive net flows of €1.759 million in July. The three Activest companies acquired by Pioneer in July 2006 contributed to this result for €841 million.
Starting July 2006 the amounts related to Activest are consolidated into Pioneer Group perimeter.
Total Assets under Management is over €214 billion.

Italy Business Unit saw negative inflows of only €26 million during the month with mutual funds Italian Market (Assogestioni perimeter) producing negative sales of €1.8 billion during the period. Total Assets under Management in Italy at the end of the month stood at €106 billion.

The International division (ex Italy) saw negative flows of €56 million. Total Assets under Management reached €16.3 billion.

The US closed the month with positive sales of €974 million, referred to Vanderbilt activity on CDO (Collateralized Debt Obligations) products. Total Assets under Management reached €43.5 billion ($55.6 billion).

The New Markets division saw positive sales of €25 million in the month, mainly due to the Poland contribution (€18.64 million). Total Assets under Management in this division is over €6 billion.

The Alternative Investments division (net flows and AuM data are included in the reported numbers for other divisions) reported positive flows in the month of €48 million. Total Assets under Management in Hedge Funds stood at €4.5 billion.


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