Exhibit 17b


                            SAFECO COMMON STOCK TRUST

                              SAFECO BALANCED FUND

               SPECIAL MEETING OF SHAREHOLDERS - December 8, 2004

     This proxy is solicited on behalf of the board of trustees of Safeco Common
Stock Trust, on behalf of its series, Safeco Balanced Fund (the "Safeco Fund").
The undersigned hereby appoints [ ] and [ ], each of them (with full powers of
substitution) to vote for the undersigned all shares of beneficial interest of
the undersigned in the above-referenced Safeco Fund at the Special Meeting of
Shareholders to be held at 2:00 p.m., Pacific time, on December 8, 2004, at
Safeco Mutual Funds, King Auditorium, 4854 154th Place, N.E., Redmond,
Washington 98052, and any adjournment thereof ("Meeting"), with all the power
the undersigned would have if personally present.

     The shares represented by this proxy will be voted as instructed on the
reverse side. Unless instructions to the contrary are given on the reverse or if
this proxy is executed but no instruction is given, this proxy shall be deemed
to grant authority to vote "FOR" the proposal, with discretionary power to vote
upon such other business as may properly come before the Meeting or any
adjournment. The proxies intend to vote with management on any such other
business properly brought before the Meeting. The undersigned hereby
acknowledges receipt of the accompanying Notice of the Special Meeting and
combined Proxy Statement and Prospectus.




                              Date                          , 2004

                              YOUR VOTE IS VERY IMPORTANT.
                              PLEASE COMPLETE, SIGN, DATE AND
                              RETURN THE ENCLOSED PROXY CARD
                              PROMPTLY.


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                              Signature(s) of Shareholder(s) (Sign in the Box)


                              NOTE: Please sign exactly as you name or names
                              appear. When signing as attorney, executor,
                              administrator, trustee or guardian, please give
                              your full title as such. If a corporation or
                              partnership, please sign in full corporate or
                              partnership name by an authorized officer.






             NOTE: YOUR PROXY CARD IS NOT VALID UNLESS IT IS SIGNED
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YOUR VOTE IS IMPORTANT. PLEASE VOTE BY FILLING IN THE APPROPRIATE BOX BELOW.
THIS PROXY WILL BE VOTED "FOR" THE PROPOSAL BELOW IF NO SPECIFICATION IS MADE
BELOW.

Your board of trustees recommends that you vote "FOR" Proposal 1.

(1)       To approve an Agreement and Plan of Reorganization. Under the
          Agreement and Plan of Reorganization, your Safeco Fund will transfer
          all of its assets to Pioneer Bond VCT Portfolio ("Pioneer Fund"), an
          investment company managed by Pioneer Investment Management, Inc.
          ("Pioneer"), in exchange for Investor Class shares of the Pioneer
          Fund.

          Refer to pages __ in the combined Proxy Statement and Prospectus to
          review relevant information regarding the Pioneer Fund.

          FOR      |_|           AGAINST      |_|             ABSTAIN      |_|


Your board of trustees recommends that you vote "FOR" Proposal 2.

(2)       To approve an interim investment advisory agreement between your
          Safeco Fund and Pioneer.

          FOR      |_|           AGAINST      |_|             ABSTAIN      |_|


(3)       To transact such other business as may properly come before the
          meeting.


                   We need your vote before __________, 2004.

                     PLEASE SIGN AND DATE THE REVERSE SIDE.