Pioneer Investments: total asset under management for the first time more than ?130 billion

Total Asset under Management for Pioneer Investment reaching a new record high of €131.7 billion (+1.63% since the beginning of the year) due to the positive market effect +1.65%.
Total net flows during the month were negative for €29 million.

Italy recorded net outflows for -€185 million, in particularly due to the negative trend in the Mutual Funds.
Good trend continued in the "Third Party" segment (+€51 million) and in the Institutional segment (+€7 million).
Total Asset under Management in Italy at the end of January stand at €93.6 billion, an increase of 0.8% since the beginning of the year.

The International division (ex Italia) contributed positively wit inflows of €183 million. The monthly result benefited from sales of Hedge Funds (+€72 million) and the result achieved in Germany (+€76 million) and in UK (+€20 million). Asset under Management increased by 7.5% since the beginning of the year and currently stand at €8.7 billion.

The American division closet the month with negative net flows (-€123 million) in particularly due to the redemptions in the fixed income funds.
Total Asset under Management in this division stood at €25,654 million, an increase of 2.5% since the beginning of the year; in dollar term in the same period assets under management stood at $33,440 million.

Inflows were positive for the New Europe division at €95 million. Confirmed in the month the client preference for bond and balanced products.
Asset under Management increased by 3.1% compared with the end of 2004 and currently stand at €3,812 million.

Alternative Investments division (net flows and AuM data are included in the reported numbers for other divisions) reported positive inflows of €63 million due to the placement of the Momentum family funds.
Total Asset under Management in Hedge Funds, increased by 5.8% over the previous month, reaching a new record high of €4,006 million.

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