2024-07-19 11:15:00 ET
Summary
- The outperformance of the Magnificent 7 caused the SPX to outpace the returns of the average stock in the quarter.
- Pioneer Fundamental Growth Fund class Y shares returned 4.02% compared with 8.33% for the RLG in the second quarter.
- During the period, we initiated a position in computer software giant Oracle.
- We remain cautious, as elevated valuations reflect an optimistic outcome with respect to the economy, interest rates, inflation, the federal debt, and the elections.
Average Annual Total Returns for Class Y Shares
Month-toDate | Quarter- To-Date | Year-ToDate | 1-Year | 3-Year | 5-Year | 10-Year | |
Pioneer Fundamental Growth Fund ( FUNYX ) | 4.59% | 4.02% | 15.87% | 29.59% | 10.50% | 16.68% | 14.36% |
Russell 1000® Growth Index (Benchmark) | 6.74% | 8.33% | 20.70% | 33.48% | 11.28% | 19.34% | 16.33% |
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For further details see:
Pioneer Fundamental Growth Fund Q2 2024 Performance And Market Commentary