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                                                        Arthur Andersen





CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS



To the Shareholders and Trustees of
Pioneer Balanced Fund

As independent public accountants, we hereby consent to the use of our
report on Pioneer Balanced Fund dated February 9, 2001 (and to all
references to our firm) included in or made a part of Pioneer Balanced Fund's
Post-Effective Amendment No. 66 and Amendment No. 35 to Registration
Statement File Nos. 2-28273 and 811-01605, respectively.


                                        /s/ Arthur Andersen LLP
Boston, Massachusetts
April 20, 2001