pioneer investments press conference slovenia ddr. werner kretschmer | 28th of september 2007

Pioneer InvestmentsPress Conference Slovenia

DDr. Werner Kretschmer | 28th of September 2007

Press Conference Slovenia | 28th September 2007 |

Pioneer Investments

Our Mission….

To create sustainable value for our clients through growing and preserving their assets


Agenda

Corporate Overview

CEE story so far

Opportunities and challenges

Strategy for Slovenia


Strong Parentage

Pioneer Investments is owned by UniCredito Italiano S.p.A.

UniCredit is the first truly European bank

– One of the largest banking and financial services organizations in Europe

– market capitalization: over €67 billion as at 19 July 20071

– 35 million customers, over 7,000 branches and 135,857 employees2 (as at 31 March 2007)

UniCredit has a strong geographic presence

– UniCredit is a global player with coverage in 5 continents

Strong credit rating:

– Moody’s Aa2 ( as at 22 June 2007)

– Standard & Poor’s A+ (as at 18 July 2007)

UniCredit Group

Retail Division Corporate DivisionPrivate Banking

Division Asset Management

Division

Markets & Investment Banking

Division

Poland’s Markets Division

CEE DivisionGlobal Banking

Services Division

1. Source: Pioneer Investments2. These figures include all employees of Koç Group which is consolidated proportionally.


Pioneer Investments

– A presence in 25 countries worldwide

– AUM: €237.6 billion as at 30 June 2007

– Over 2,350 employees, thereof more than 300 investment professionals

Global Presence – Local Insight

Source: Pioneer Investments as at 30 June 2007


Fitch Ratings rates Pioneer Investments as “strong"

“Generally stable”

“Well-capitalised”

“Highly experienced, tenured management teams”

“Experienced front-, middle-, and back-office staff“

“Strong risk management and internal control functions”

“Frequent investment analysis and monitoring, forming a disciplined approach.”

“Strong investment administration capabilities”

“Good analytical and decision-support tools”

Under the new Fitch Rating system introduced in June 2007, Pioneer Investments* receives an "M2" score ("Strong")

Qualities of "M2" rated organisations, according to Fitch:

*Fitch Ratings’ Manager Rating applies to the Milan, Dublin and Boston operations of Pioneer Investments.


Pioneer Global and Integrated

Pioneer Investments

model

Distribution Channels

Retail & Private Proprietary Third Party/Wholesale Institutionals

Reputation

Values Brand Culture

Investment solutions Open/Closed

Mutual funds Hedge funds Segregated

accounts Guaranteed &

VAR products Asset allocation Pension

products

Total

CEE

USA

International

Germany

Italy

AuM eur bnAssets

Austria(1)

256.1

10.6

51.2

16.0

49.5

110.3

18.5

15 TOP STARFUNDS

Data as per 30 June 2007 (1) Pioneer Investments Austria is currently a subsidiary of Bank Austria Creditanstalt


Agenda

Corporate Overview

CEE story so far




Source: Pioneer Investments, as of 31/03/2007(1) Including market share of ZB Invest, Croatia (2) Market share of Yapi Kredi Asset Management

11

8

7

5

4

2

1

1

1

Ranking

Slovenia

Romania

Slovakia

Hungary

Czech Rep.

Turkey(2)

Poland

Bulgaria

Croatia(1)

Marketshare in %

5.8

2.8

29.9

23.5

22.3

20.0

7.0

8.0

2.3

Pioneer Investments is the Number One Player in the CEE Region …


… with a Diversified Portfolio

Breakdown of assets in CEE

46.4%Balanced

32.6%Equity

Others

21%

Turkey

CroatiaFurther AuM non-consolidated

Pioneer AuM total

AuM total

Russia

RomaniaSlovenia

Bulgaria

Slovakia

Czech Rep.

Hungary

3,271(2)

1,061(1)

10,170

14,502

start up

1265

77

130

628

1,273

7,985Poland

AuM eur mlnPioneer Investments

Source: Pioneer Investments, as of 31/5/2007(1) including AuM of ZB Invest, Croatia(2) AuM of Yapi Kredi Asset Management


Agenda

Corporate Overview

CEE story so far




CEE is One of the Fastest Growing Regions, being Reflected in Strong Growth of Household Wealth

eur bn

Estimated growth of Household Wealth 2006-2009

11

29

77

60

182

23

24

23

177

155

+8

+13

+21

+15

+72

+16

+12

+10

+209

+63

Bulgaria

Croatia

Czech Rep.

Hungary

Poland

Romania

Slovakia

Slovenia

Russia

Turkey

Wealth 2006

Wealth Growth 06-09

CEE + Russia:

CAGR 16.4% p.a.

from eur 760 bn in 2006to eur 1,200 bn in 2009

Source: New Europe Households‘ Wealth and Debt Monitor, UniCredit May 2007


with Funds amongst the Most Demanded Products

CEE + Russia:

CAGR%

deposits + currencies 15%

securities + shares 11%

mutual funds 22%

Insurance 18%

pension funds 21%

Estimated cumulative growth of bank deposits vs. funds 2006-2009

Bank deposits%

Bulgaria

Source: New Europe Households‘ Wealth and Debt Monitor, UniCredit May 2007

Mutual funds

15.3

54.1

7.1

13.3

6.4

14

5.7

10.2

6.5

18.620.8

60.5

7.9

16

3.0

20.3

27.9

40.8

15.0 15.5

Croatia Czech Rep.

Hungary Poland Romania Slovakia Slovenia Russia Turkey


Agenda

Corporate Overview

CEE story so far




Leverage on Group Strengths to Meet Local Needs

LEVERAGE ON

a wide range of global products

strong, experienced distribution channels, close to the market

being a highly - reputed international player

TO MEET DEMANDS IN A CHANGING ENVIRONMENT IN SLOVENIA

wider range of EUR investment possibilities

more sophisticated products

appetite for wider geographic allocation

increased sensitivity to quality

- > enhance the existing product range by Pioneer Luxembourg domiciled family


European US Global Emerging & Far East

European Small Companies U.S. Mid Cap Value Top Global Players Emerging Markets Equity

Eastern European Equity

Greater China EquityTop European Players U.S. Research

Japanese Equity

Pacific (Ex. Japan) Equity

The correct legal name of the Sub-funds should be pre-fixed by “Pioneer Funds”.

Luxemburg Domiciled FundsEquity Funds

U.S. Pioneer Fund


The correct legal name of the Sub-funds should be pre-fixed by “Pioneer Funds” and “Pioneer P.F.”

Focus on Mutual Funds - Our Fixed Income RangeShort-Term

Euro Short-Term

Global and Emerging

Emerging Markets Bond

International Bond

European

Euro Bond

Luxemburg Domiciled FundsBond Funds and Short-Term Funds

Portfolio Funds

Global Defensive Plus

Global Dynamic Plus

Global


Disclaimer

- This document is produced for additional information and only in regard to the non public offering of the units or the reporting activities of certain funds as mentioned before and shall not be constituted as an offer, a recommendation or an invitation to buy or sell any securities or to invest in indices or markets referred to therein, nor shall it form the basis of or relied upon in connection with any contract or commitment whatsoever. Any opinions or statements included herein constitute our judgment at the time specified and may be subject to change without notice. The information, opinion or statement in this document have been compiled, or arrived at, based upon information obtained from sources believed to be reliable and made in good faith. However no representation nor warranty, express or implied, is made to its accuracy or completeness. Pioneer Investments, therefore accepts no liability for any loss arising, whether direct or indirect, which may be caused by the use of any part of the information provided.

- All rights in respect of translation adaptation, total or partial reproduction of this document, by any process whatsoever, in any country whatsoever, are reserved unless Pioneer Investments has given its consent.

pioneer investments press conference slovenia ddr. werner kretschmer | 28th of september 2007

Documents

pioneer investments

pioneer global

pioneer investmentsour

global player

fitch ratings manager

new fitch rating system

investment professionalssource

continentsstrong credit