|
|||||
Class A |
Class C |
Class K |
Class R |
Class Y | |
Maximum sales charge (load) when you buy shares (as a percentage of offering price) | |||||
Maximum deferred sales charge (load) (as a percentage of offering price or the amount you receive when you sell shares, whichever is less) | 1 |
|
|||||
Class A |
Class C |
Class K |
Class R |
Class Y | |
Management Fees | |||||
Distribution and Service (12b-1) Fees | |||||
Other Expenses | |||||
Total Annual Fund Operating Expenses |
1 |
|
| ||||||||
Number of years you own
your shares | |||||||||
1 |
3 |
5 |
10 |
1 |
3 |
5 |
10 | ||
Class A | $ |
$ |
$ |
$ |
$ |
$ |
$ |
$ | |
Class C | |||||||||
Class K | |||||||||
Class R | |||||||||
Class Y |
1 Year |
5 Years |
10 Years |
Since Inception |
Inception Date | |
Class A | |||||
Return before taxes | |||||
Return after taxes on distributions | |||||
Return after taxes on distributions and sale of shares | |||||
Class C† | |||||
Class K | N/A | ||||
Class R | |||||
Class Y | |||||
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) |
† | The performance of Class C shares does not reflect the 1% front-end sales charge in effect prior to February 1, 2004. If you paid a 1% sales charge, your returns would be lower than those shown above. |
Investment adviser
|
Amundi Pioneer Asset Management, Inc. |
Portfolio management
|
Kenneth J. Taubes, Executive Vice President and Chief Investment Officer, U.S. of Amundi Pioneer (portfolio manager of the fund since 1998); Brad Komenda, Senior Vice President and Deputy Director of Investment Grade Corporates of Amundi Pioneer (portfolio manager of the fund since February 2018); and Timothy Rowe, Managing Director and Director of Multi-Sector Fixed Income of Amundi Pioneer (portfolio manager of the fund since June 2018) |
• | debt securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, |
• | debt securities, including convertible debt, of corporate and other issuers rated at least investment grade at the time of investment, and comparably rated commercial paper, |
• | cash and cash equivalents, certificates of deposit, repurchase agreements maturing in one week or less and bankers' acceptances. |
• | the full faith and credit of the U.S. Treasury, such as securities issued by the GNMA; |
• | the authority of the U.S. government to purchase certain obligations of the issuer, such as securities issued by the FNMA and the FHLMC; |
• | the limited authority of the issuer to borrow from the U.S. Treasury; or |
• | only the credit of the issuer. |
• | Rated BBB or higher at the time of purchase by Standard & Poor’s Financial Services LLC; |
• | Rated the equivalent rating by a nationally recognized statistical rating organization; or |
• | Determined to be of equivalent credit quality by Amundi Pioneer. |
• | In an attempt to hedge against adverse changes in the market prices of securities, interest rates or currency exchange rates |
• | As a substitute for purchasing or selling securities |
• | To attempt to increase the fund’s return as a non-hedging strategy that may be considered speculative |
• | To manage portfolio characteristics (for example, the duration or credit quality of the fund's portfolio) |
• | As a cash flow management technique |
• | Less information about non-U.S. issuers or markets may be available due to less rigorous disclosure or accounting standards or regulatory practices |
• | Many non-U.S. markets are smaller, less liquid and more volatile. In a changing market, the adviser may not be able to sell the fund's securities at times, in amounts and at prices it considers reasonable |
• | Adverse effect of currency exchange rates or controls on the value of the fund's investments, or its ability to convert non-U.S. currencies to U.S. dollars |
• | The economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession |
• | Economic, political, regulatory and social developments may adversely affect the securities markets |
• | It may be difficult for the fund to pursue claims or enforce judgments against a foreign bank, depository or issuer of a security, or any of their agents, in the courts of a foreign country |
• | Withholding and other non-U.S. taxes may decrease the fund's return. The value of the fund’s foreign investments also may be affected by U.S. tax considerations and restrictions in receiving investment proceeds from a foreign country |
• | Some markets in which the fund may invest are located in parts of the world that have historically been prone to natural disasters that could result in a significant adverse impact on the economies of those countries and investments made in those countries |
• | It is often more expensive for the fund to buy, sell and hold securities in certain foreign markets than in the United States |
• | A governmental entity may delay, or refuse or be unable to pay, interest or principal on its sovereign debt due to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms |
• | Investing in depositary receipts is subject to many of the same risks as investing directly in non-U.S. issuers. Depositary receipts may involve higher expenses and may trade at a discount (or premium) to the underlying security. In addition, depositary receipts may not pass through voting and other shareholder rights, and may be less liquid than the underlying securities listed on an exchange |
• | A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. A number of countries in Europe have suffered terror attacks, and additional attacks may occur in the future. In addition, the United Kingdom has withdrawn from the EU (commonly known as “Brexit”). Other countries may seek to withdraw from the EU and/or abandon the euro, the common currency of the EU. These events could negatively affect the value and liquidity of the fund’s investments, particularly in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries |
• | If one or more stockholders of a supranational entity such as the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities |
• | Sanctions or other government actions against a foreign nation could negatively impact the fund’s investments in securities that have exposure to that nation |
• | The eligibility requirements that apply to purchases of a particular share class |
• | The expenses paid by each class |
• | The initial sales charges and contingent deferred sales charges (CDSCs), if any, applicable to each class |
• | Whether you qualify for any reduction or waiver of sales charges |
• | How long you expect to own the shares |
• | Any services you may receive from a financial intermediary |
• | You pay a sales charge of up to 4.50% of the offering price, which is reduced or waived for large purchases and certain types of investors. At the time of your purchase, your investment firm may receive a commission from the distributor of up to 4%, declining as the size of your investment increases. |
• | There is no contingent deferred sales charge, except in certain circumstances when no initial sales charge is charged. |
• | Distribution and service fees of 0.25% of average daily net assets. |
• | A 1% contingent deferred sales charge is assessed if you sell your shares within one year of purchase. Your investment firm may receive a commission from the distributor at the time of your purchase of up to 1%. |
• | Distribution and service fees of 1.00% of average daily net assets. |
• | Maximum purchase amount (per transaction) of $499,999. |
• | Until December 1, 2020, Class C shares automatically convert to Class A shares after 10 years. Effective December 1, 2020, Class C shares will automatically convert to Class A shares after 8 years. |
• | No initial or contingent deferred sales charge. However, if you invest in Class K shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary. |
• | Initial investments by discretionary accounts and direct investors are subject to a $5 million investment minimum, which may be waived in some circumstances. |
• | There is no investment minimum for other eligible investors. |
• | No initial or contingent deferred sales charge. |
• | Distribution fees of 0.50% of average daily net assets. Separate service plan provides for payment to financial intermediaries of up to 0.25% of average daily net assets. |
• | Generally, available only through certain tax-deferred retirement plans and related accounts. |
• | No initial or contingent deferred sales charge. However, if you invest in Class Y shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary. |
• | Initial investments are subject to a $5 million investment minimum, which may be waived in some circumstances. |
Sales charge as % of
| ||
Amount of purchase
|
Offering price |
Net amount invested |
Less than $100,000 | 4.50 | 4.71 |
$100,000 but less than $250,000 | 3.50 | 3.63 |
$250,000 but less than $500,000 | 2.50 | 2.56 |
$500,000 or more | -0- | -0- |
• | The amount of shares you own of the Pioneer funds plus the amount you are investing now is at least $100,000 (Rights of accumulation) |
• | You plan to invest at least $100,000 over the next 13 months (Letter of intent) |
• | If you plan to invest at least $100,000 (excluding any reinvestment of dividends and capital gain distributions) in the fund's Class A shares during the next 13 months |
• | If you include in your letter of intent the value (at the current offering price) of all of your Class A shares of the fund and Class A or Class C shares of all other Pioneer mutual fund shares held of record in the amount used to determine the applicable sales charge for the fund shares you plan to buy |
• | Current or former trustees and officers of the fund; |
• | Partners and employees of legal counsel to the fund (at the time of initial share purchase); |
• | Directors, officers, employees or sales representatives of Amundi Pioneer and its affiliates (at the time of initial share purchase); |
• | Directors, officers, employees or sales representatives of any subadviser or a predecessor adviser (or their affiliates) to any investment company for which Amundi Pioneer serves as investment adviser (at the time of initial share purchase); |
• | Officers, partners, employees or registered representatives of broker-dealers (at the time of initial share purchase) which have entered into sales agreements with the distributor; |
• | Employees of Regions Financial Corporation and its affiliates (at the time of initial share purchase); |
• | Members of the immediate families of any of the persons above; |
• | Any trust, custodian, pension, profit sharing or other benefit plan of the foregoing persons; |
• | Insurance company separate accounts; |
• | Certain wrap accounts for the benefit of clients of investment professionals or other financial intermediaries adhering to standards established by the distributor; |
• | Other funds and accounts for which Amundi Pioneer or any of its affiliates serves as investment adviser or manager; |
• | Investors in connection with certain reorganization, liquidation or acquisition transactions involving other investment companies or personal holding companies; |
• | Certain unit investment trusts; |
• | Group employer-sponsored retirement plans with at least $500,000 in total plan assets. Waivers for group employer-sponsored retirement plans do not apply to traditional IRAs, Roth IRAs, SEPs, SARSEPs, SIMPLE IRAs, KEOGHs, individual 401(k) or individual 403(b) plans, or to brokerage relationships in which sales charges are customarily imposed; |
• | Group employer-sponsored retirement plans with accounts established with Amundi Pioneer on or before March 31, 2004 with 100 or more eligible employees or at least $500,000 in total plan assets; |
• | Participants in an employer-sponsored 403(b) plan or employer-sponsored 457 plan if (i) your employer has made special arrangements for your plan to operate as a group through a single broker, dealer or financial intermediary and (ii) all participants in the plan who purchase shares of a Pioneer mutual fund do so through a single broker, dealer or other financial intermediary designated by your employer; |
• | Investors purchasing shares pursuant to the reinstatement privilege applicable to Class A shares; |
• | Redemption proceeds from a non-retirement account used by the shareholder to purchase fund shares in an IRA or other individual-type retirement account: and |
• | Shareholders of record (i.e., shareholders whose shares are not held in the name of a broker or an omnibus account) on the date of the reorganization of a predecessor Safeco fund into a corresponding Pioneer fund, shareholders who owned shares in the name of an omnibus account provider on that date that agrees with the fund to distinguish beneficial holders in the same manner, and retirement plans with assets invested in the predecessor Safeco fund on that date. |
• | The CDSC is calculated on the current market value or the original cost of the shares you are selling, whichever is less |
• | You do not pay a CDSC on reinvested dividends or distributions |
• | If you sell only some of your shares, the transfer agent will first sell your shares that are not subject to any CDSC and then the shares that you have owned the longest |
• | You may qualify for a waiver of the CDSC normally charged. See “Waiver or reduction of contingent deferred sales charges” |
• | The distribution results from the death of all registered account owners or a participant in an employer-sponsored plan. For UGMAs, UTMAs and trust accounts, the waiver applies only upon the death of all beneficial owners; |
• | You become disabled (within the meaning of Section 72 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”)) after the purchase of the shares being sold. For UGMAs, UTMAs and trust accounts, the waiver only applies upon the disability of all beneficial owners; |
• | The distribution is made in connection with limited automatic redemptions as described in “Systematic withdrawal plans” (limited in any year to 10% of the value of the account in the fund at the time the withdrawal plan is established); |
• | The distribution is from any type of IRA, 403(b) or employer-sponsored plan described under Section 401(a) or 457 of the Internal Revenue Code and, in connection with the distribution, one of the following applies: |
− | It is part of a series of substantially equal periodic payments made over the life expectancy of the participant or the joint life expectancy of the participant and his or her beneficiary (limited in any year to 10% of the value of the participant's account at the time the distribution amount is established); |
− | It is a required minimum distribution due to the attainment of age 70½, in which case the distribution amount may exceed 10% (based solely on total plan assets held in Pioneer mutual funds); |
− | It is rolled over to or reinvested in another Pioneer mutual fund in the same class of shares, which will be subject to the CDSC of the shares originally held; or |
− | It is in the form of a loan to a participant in a plan that permits loans (each repayment applied to the purchase of shares will be subject to a CDSC as though a new purchase); |
• | The distribution is to a participant in an employer-sponsored retirement plan described under Section 401(a) of the Internal Revenue Code or to a participant in an employer-sponsored 403(b) plan or employer-sponsored 457 plan if (i) your employer has made special arrangements for your plan to operate as a group through a single broker, dealer or financial intermediary and (ii) all participants in the plan who purchase shares of a Pioneer mutual fund do so through a single broker, dealer or other financial intermediary designated by your employer and is or is in connection with: |
− | A return of excess employee deferrals or contributions; |
− | A qualifying hardship distribution as described in the Internal Revenue Code; |
− | Due to retirement or termination of employment; |
− | From a qualified defined contribution plan and represents a participant's directed transfer, provided that this privilege has been preauthorized through a prior agreement with the distributor regarding participant directed transfers; |
• | The distribution is made pursuant to the fund's right to liquidate or involuntarily redeem shares in a shareholder's account; |
• | The distribution is made to pay an account's advisory or custodial fees; or |
• | The distributor does not pay the selling broker a commission normally paid at the time of the sale. |
• | You have provided adequate instructions |
• | There are no outstanding claims against your account |
• | There are no transaction limitations on your account |
• | Your request includes a signature guarantee if you: |
− | Are selling over $100,000 or exchanging over $500,000 worth of shares |
− | Changed your account registration or address within the last 30 days |
− | Instruct the transfer agent to mail the check to an address different from the one on your account |
− | Want the check paid to someone other than the account’s record owner(s) |
− | Are transferring the sale proceeds to a Pioneer mutual fund account with a different registration |
(a) | The investment is made by a retirement plan that is an eligible investor in Class K shares; or |
(b) | The investment is made by another Pioneer fund; or |
(c) | The investment is made through certain mutual fund programs sponsored by qualified intermediaries, such as broker-dealers and investment advisers. In |
each
case, the intermediary has an arrangement with Amundi Pioneer to include
Class K shares of the Pioneer mutual funds in their program. In one model,
the intermediary provides investors participating in the program with
additional services, including advisory, asset allocation, recordkeeping
or other services, as a combined service offering. In another model, a
brokerage firm may provide transactional services in accordance with a
commission schedule set by the firm. You should ask your investment firm if it offers and you are eligible to participate in such a mutual fund program and whether participation in the program is consistent with your investment goals. The intermediaries sponsoring or participating in these mutual fund programs also may offer their clients other classes of shares of the funds, and investors may receive different levels of services or pay different fees depending upon the class of shares included in the program. Investors should consider carefully any separate transaction and other fees charged by these programs in connection with investing in each available share class before selecting a share class. |
(a) | The investment is made by a trust company or bank trust department which is initially investing at least $1 million in any of the Pioneer mutual funds and, at the time of the purchase, such assets are held in a fiduciary, advisory, custodial or similar capacity over which the trust company or bank trust department has full or shared investment discretion; or |
(b) | The investment is at least $1 million in any of the Pioneer mutual funds and the purchaser is an insurance company separate account; or |
(c) | The account is not represented by a broker-dealer and the investment is made by (1) an ERISA-qualified retirement plan that meets the requirements of Section 401 of the Internal Revenue Code, (2) an employer-sponsored retirement plan that meets the requirements of Sections 403 or 457 of the Internal Revenue Code, (3) a private foundation that meets the requirements of Section 501(c)(3) of the Internal Revenue Code or (4) an endowment or other organization that meets the requirements of Section 509(a)(1) of the Internal Revenue Code; or |
(d) | The investment is made by an employer-sponsored retirement plan established for the benefit of (1) employees of Amundi Pioneer or its affiliates, or (2) employees or the affiliates of broker-dealers who have a Class Y shares sales agreement with the distributor; or |
(e) | The investment is made through certain mutual fund programs sponsored by qualified intermediaries, such as broker-dealers and investment advisers. In each case, the intermediary has an arrangement with Amundi Pioneer to include Class Y shares of the Pioneer mutual funds in its program. In one model, the intermediary provides investors participating in the program with additional services, including advisory, asset allocation, recordkeeping or other services, as a combined service offering. In another model, a brokerage firm may provide transactional services in accordance with a commission schedule set by the firm. |
You should ask your investment firm if it offers and you are eligible to participate in such a mutual fund program and whether participation in the program is consistent with your investment goals. The intermediaries sponsoring or participating in these mutual fund programs also may offer their clients other classes of shares of the funds, and investors may receive different levels of services or pay different fees depending upon the class of shares included in the program. Investors should consider carefully any separate transaction and other fees charged by these programs in connection with investing in each available share class before selecting a share class; or | |
(f) | The investment is made by another Pioneer fund. |
• | You established your bank account of record at least 30 days ago |
• | Your bank information has not changed for at least 30 days |
• | You are not purchasing more than $100,000 worth of shares per account per day |
• | You can provide the proper account identification information |
• | State Street Bank must receive your wire no later than 11:00 a.m. Eastern time on the business day after the fund receives your request to purchase shares |
• | If State Street Bank does not receive your wire by 11:00 a.m. Eastern time on the next business day, your transaction will be canceled at your expense and risk |
• | Wire transfers normally take two or more hours to complete and a fee may be charged by the sending bank |
• | Wire transfers may be restricted on holidays and at certain other times |
Receiving Bank: | State
Street Bank and Trust Company 225 Franklin Street Boston, MA 02101 ABA Routing No. 011000028 |
For further credit to: | Shareholder
Name Existing Pioneer Account No. Bond Fund |
• | You are exchanging into an existing account or using the exchange to establish a new account, provided the new account has a registration identical to the original account |
• | The fund into which you are exchanging offers the same class of shares |
• | You are not exchanging more than $500,000 worth of shares per account per day |
• | You can provide the proper account identification information |
• | The name and signature of all registered owners |
• | A signature guarantee for each registered owner if the amount of the exchange is more than $500,000 |
• | The name of the fund out of which you are exchanging and the name of the fund into which you are exchanging |
• | The class of shares you are exchanging |
• | The dollar amount or number of shares you are exchanging |
• | By check, provided the check is made payable exactly as your account is registered |
• | By bank wire or by electronic funds transfer, provided the sale proceeds are being sent to your bank address of record |
• | For new accounts, complete the online section of the account application |
• | For
existing accounts, complete an account options form, write to the fund or complete the online authorization screen at us.amundipioneer.com |
• | You must select exchanges on a monthly or quarterly basis |
• | Both the originating and receiving accounts must have identical registrations |
• | The originating account must have a minimum balance of $5,000 |
(1) | Unless you indicate another option on your account application, any dividends and capital gain distributions paid to you by the fund will automatically be invested in additional fund shares. |
(2) | You may elect to have the amount of any dividends paid to you in cash and any capital gain distributions reinvested in additional shares. |
(3) | You may elect to have the full amount of any dividends and/or capital gain distributions paid to you in cash. |
• | Your account must have a total value of at least $10,000 when you establish your plan |
• | You may not request a periodic withdrawal of more than 10% of the value of any Class C or Class R share account (valued at the time the plan is implemented) |
• | You sell shares within a short period of time after the shares were purchased; |
• | You make two or more purchases and redemptions within a short period of time; |
• | You enter into a series of transactions that indicate a timing pattern or strategy; or |
• | We reasonably believe that you have engaged in such practices in connection with other mutual funds. |
• | You must send a written request to the fund no more than 90 days after selling your shares and |
• | The registration of the account in which you reinvest your sale proceeds must be identical to the registration of the account from which you sold your shares. |
• | Your current account information |
• | Prices, returns and yields of all publicly available Pioneer mutual funds |
• | Prospectuses, statements of additional information and shareowner reports for all the Pioneer mutual funds |
• | A copy of Amundi Pioneer’s privacy notice |
• | Obtain current information on your Pioneer mutual fund accounts |
• | Inquire about the prices of all publicly available Pioneer mutual funds |
• | Make computer-assisted telephone purchases, exchanges and redemptions for your fund accounts |
• | Request account statements |
• | Requesting certain types of exchanges or sales of fund shares |
• | Requesting certain types of changes for your existing account |
• | reject any purchase or exchange order for any reason, without prior notice |
• | charge a fee for exchanges or to modify, limit or suspend the exchange privilege at any time without notice. The fund will provide 60 days’ notice of material amendments to or termination of the exchange privilege |
• | revise, suspend, limit or terminate the account options or services available to shareowners at any time, except as required by the rules of the Securities and Exchange Commission |
• | charge transfer, shareholder servicing or similar agent fees, such as an account maintenance fee for small balance accounts, directly to accounts upon at least 30 days’ notice. The fund may do this by deducting the fee from your distribution of dividends and/or by redeeming fund shares to the extent necessary to cover the fee |
• | close your account after a period of inactivity, as determined by state law, and transfer your shares to the appropriate state |
Year Ended 6/30/20 |
Year Ended 6/30/19 |
Year Ended 6/30/18 |
Year Ended 6/30/17 |
Year Ended 6/30/16* | |
Net asset value, beginning of period | $ 9.79 | $ 9.45 | $ 9.71 | $ 9.76 | $ 9.68 |
Increase (decrease) from investment operations: | |||||
Net investment income (loss) (a) | $ 0.25 | $ 0.27 | $ 0.26 | $ 0.25 | $ 0.25 |
Net realized and unrealized gain (loss) on investments | 0.23 | 0.37 | (0.24) | (0.01) | 0.12 |
Net increase (decrease) from investment operations | $ 0.48 | $ 0.64 | $ 0.02 | $ 0.24 | $ 0.37 |
Distributions to shareowners: | |||||
Net investment income | $ (0.29) | $ (0.30) | $ (0.28) | $ (0.29) | $ (0.27) |
Net realized gain | — | — | — | — | (0.02) |
Total distributions | $ (0.29) | $ (0.30) | $ (0.28) | $ (0.29) | $ (0.29) |
Net increase (decrease) in net asset value | $ 0.19 | $ 0.34 | $ (0.26) | $ (0.05) | $ 0.08 |
Net asset value, end of period | $ 9.98 | $ 9.79 | $ 9.45 | $ 9.71 | $ 9.76 |
Total return (b) | 5.01% | 6.93% | 0.14% | 2.48% | 3.93% |
Ratio of net expenses to average net assets | 0.82% | 0.85% | 0.85% | 0.85% | 0.85% |
Ratio of net investment income (loss) to average net assets | 2.58% | 2.88% | 2.71% | 2.60% | 2.58% |
Portfolio turnover rate | 71% | 52% | 45% | 44% | 43% |
Net assets, end of period (in thousands) | $960,460 | $979,874 | $1,081,121 | $1,156,940 | $1,177,941 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: | |||||
Total expenses to average net assets | 0.82% | 0.87% | 0.96% | 0.99% | 0.98% |
Net investment income (loss) to average net assets | 2.58% | 2.86% | 2.60% | 2.46% | 2.45% |
* | The Fund was audited by an independent registered public accounting firm other than Ernst & Young LLP. |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
Year Ended 6/30/20 |
Year Ended 6/30/19 |
Year Ended 6/30/18 |
Year Ended 6/30/17 |
Year Ended 6/30/16* | |
Net asset value, beginning of period | $ 9.68 | $ 9.35 | $ 9.60 | $ 9.66 | $ 9.57 |
Increase (decrease) from investment operations: | |||||
Net investment income (loss) (a) | $ 0.19 | $ 0.21 | $ 0.19 | $ 0.18 | $ 0.17 |
Net realized and unrealized gain (loss) on investments | 0.23 | 0.35 | (0.24) | (0.03) | 0.14 |
Net increase (decrease) from investment operations | $ 0.42 | $ 0.56 | $ (0.05) | $ 0.15 | $ 0.31 |
Distributions to shareowners: | |||||
Net investment income | $ (0.23) | $ (0.23) | $ (0.20) | $ (0.21) | $ (0.20) |
Net realized gain | — | — | — | — | (0.02) |
Total distributions | $ (0.23) | $ (0.23) | $ (0.20) | $ (0.21) | $ (0.22) |
Net increase (decrease) in net asset value | $ 0.19 | $ 0.33 | $ (0.25) | $ (0.06) | $ 0.09 |
Net asset value, end of period | $ 9.87 | $ 9.68 | $ 9.35 | $ 9.60 | $ 9.66 |
Total return (b) | 4.38% | 6.10% | (0.52)% | 1.62% | 3.28% |
Ratio of net expenses to average net assets | 1.45% | 1.52% | 1.60% | 1.59% | 1.60% |
Ratio of net investment income (loss) to average net assets | 1.96% | 2.21% | 1.96% | 1.84% | 1.84% |
Portfolio turnover rate | 71% | 52% | 45% | 44% | 43% |
Net assets, end of period (in thousands) | $59,026 | $62,447 | $79,308 | $96,547 | $134,299 |
* | The Fund was audited by an independent registered public accounting firm other than Ernst & Young LLP. |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
Year Ended 6/30/20 |
Year Ended 6/30/19 |
Year Ended 6/30/18 |
Year Ended 6/30/17 |
Year Ended 6/30/16* | |
Net asset value, beginning of period | $ 9.78 | $ 9.45 | $ 9.71 | $ 9.76 | $ 9.68 |
Increase (decrease) from investment operations: | |||||
Net investment income (loss) (a) | $ 0.30 | $ 0.32 | $ 0.30 | $ 0.29 | $ 0.29 |
Net realized and unrealized gain (loss) on investments | 0.24 | 0.35 | (0.25) | (0.01) | 0.12 |
Net increase (decrease) from investment operations | $ 0.54 | $ 0.67 | $ 0.05 | $ 0.28 | $ 0.41 |
Distributions to shareowners: | |||||
Net investment income | $ (0.34) | $ (0.34) | $ (0.31) | $ (0.33) | $ (0.31) |
Net realized gain | — | — | — | — | (0.02) |
Total distributions | $ (0.34) | $ (0.34) | $ (0.31) | $ (0.33) | $ (0.33) |
Net increase (decrease) in net asset value | $ 0.20 | $ 0.33 | $ (0.26) | $ (0.05) | $ 0.08 |
Net asset value, end of period | $ 9.98 | $ 9.78 | $ 9.45 | $ 9.71 | $ 9.76 |
Total return (b) | 5.65% | 7.28% | 0.54% | 2.87% | 4.32% |
Ratio of net expenses to average net assets | 0.34% | 0.37% | 0.46% | 0.47% | 0.47% |
Ratio of net investment income (loss) to average net assets | 3.08% | 3.37% | 3.11% | 3.01% | 2.98% |
Portfolio turnover rate | 71% | 52% | 45% | 44% | 43% |
Net assets, end of period (in thousands) | $1,918,556 | $1,273,821 | $939,272 | $726,063 | $340,096 |
* | The Fund was audited by an independent registered public accounting firm other than Ernst & Young LLP. |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
Year Ended 6/30/20 |
Year Ended 6/30/19 |
Year Ended 6/30/18 |
Year Ended 6/30/17 |
Year Ended 6/30/16* | |
Net asset value, beginning of period | $ 9.88 | $ 9.54 | $ 9.80 | $ 9.85 | $ 9.77 |
Increase (decrease) from investment operations: | |||||
Net investment income (loss) (a) | $ 0.23 | $ 0.25 | $ 0.24 | $ 0.23 | $ 0.23 |
Net realized and unrealized gain (loss) on investments | 0.23 | 0.37 | (0.25) | (0.01) | 0.12 |
Net increase (decrease) from investment operations | $ 0.46 | $ 0.62 | $ (0.01) | $ 0.22 | $ 0.35 |
Distributions to shareowners: | |||||
Net investment income | $ (0.27) | $ (0.28) | $ (0.25) | $ (0.27) | $ (0.25) |
Net realized gain | — | — | — | — | (0.02) |
Total distributions | $ (0.27) | $ (0.28) | $ (0.25) | $ (0.27) | $ (0.27) |
Net increase (decrease) in net asset value | $ 0.19 | $ 0.34 | $ (0.26) | $ (0.05) | $ 0.08 |
Net asset value, end of period | $ 10.07 | $ 9.88 | $ 9.54 | $ 9.80 | $ 9.85 |
Total return (b) | 4.76% | 6.62% | (0.08)% | 2.23% | 3.66% |
Ratio of net expenses to average net assets | 1.08% | 1.10% | 1.10% | 1.10% | 1.10% |
Ratio of net investment income (loss) to average net assets | 2.33% | 2.64% | 2.46% | 2.35% | 2.33% |
Portfolio turnover rate | 71% | 52% | 45% | 44% | 43% |
Net assets, end of period (in thousands) | $191,311 | $198,457 | $179,729 | $178,770 | $156,110 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: | |||||
Total expenses to average net assets | 1.08% | 1.12% | 1.21% | 1.24% | 1.21% |
Net investment income (loss) to average net assets | 2.33% | 2.62% | 2.35% | 2.21% | 2.22% |
* | The Fund was audited by an independent registered public accounting firm other than Ernst & Young LLP. |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value |
Year Ended 6/30/20 |
Year Ended 6/30/19 |
Year Ended 6/30/18 |
Year Ended 6/30/17 |
Year Ended 6/30/16* | |
Net asset value, beginning of period | $ 9.70 | $ 9.36 | $ 9.62 | $ 9.67 | $ 9.59 |
Increase (decrease) from investment operations: | |||||
Net investment income (loss) (a) | $ 0.29 | $ 0.31 | $ 0.28 | $ 0.28 | $ 0.27 |
Net realized and unrealized gain (loss) on investments | 0.23 | 0.36 | (0.24) | (0.02) | 0.12 |
Net increase (decrease) from investment operations | $ 0.52 | $ 0.67 | $ 0.04 | $ 0.26 | $ 0.39 |
Distributions to shareowners: | |||||
Net investment income | $ (0.33) | $ (0.33) | $ (0.30) | $ (0.31) | $ (0.29) |
Net realized gain | — | — | — | — | (0.02) |
Total distributions | $ (0.33) | $ (0.33) | $ (0.30) | $ (0.31) | $ (0.31) |
Net increase (decrease) in net asset value | $ 0.19 | $ 0.34 | $ (0.26) | $ (0.05) | $ 0.08 |
Net asset value, end of period | $ 9.89 | $ 9.70 | $ 9.36 | $ 9.62 | $ 9.67 |
Total return (b) | 5.44% | 7.30% | 0.40% | 2.76% | 4.22% |
Ratio of net expenses to average net assets | 0.45% | 0.49% | 0.58% | 0.58% | 0.58% |
Ratio of net investment income (loss) to average net assets | 2.96% | 3.26% | 2.98% | 2.87% | 2.85% |
Portfolio turnover rate | 71% | 52% | 45% | 44% | 43% |
Net assets, end of period (in thousands) | $2,847,487 | $3,053,763 | $2,708,766 | $2,558,262 | $2,136,681 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: | |||||
Total expenses to average net assets | 0.45% | 0.49% | 0.58% | 0.59% | 0.59% |
Net investment income (loss) to average net assets | 2.96% | 3.26% | 2.98% | 2.86% | 2.84% |
* | The Fund was audited by an independent registered public accounting firm other than Ernst & Young LLP. |
(a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) | Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
• | Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs. |
• | Shares purchased through an Ameriprise Financial investment advisory program (if an Advisory or similar share class for such investment advisory program is not available). |
• | Shares purchased by third party investment advisors on behalf of their advisory clients through Ameriprise Financial’s platform (if an Advisory or similar share class for such investment advisory program is not available). |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the same fund family). |
• | Shares exchanged from Class C shares of the same fund in the month of or following the 10-year anniversary of the purchase date. To the extent that this prospectus elsewhere provides for a waiver with respect to such shares following a shorter holding period, that waiver will apply to exchanges following such shorter period. To the extent that this prospectus elsewhere provides for a waiver with respect to exchanges of Class C shares for load waived shares, that waiver will also apply to such exchanges. |
• | Employees and registered representatives of Ameriprise Financial or its affiliates and their immediate family members. |
• | Shares purchased by or through qualified accounts (including IRAs, Coverdell Education Savings Accounts, 401(k)s, 403(b) TSCAs subject to ERISA and defined benefit plans) that are held by a covered family member, defined as an Ameriprise financial advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother, father, grandmother, grandfather, great grandmother, great grandfather), advisor’s lineal descendant (son, step-son, daughter, step-daughter, grandson, granddaughter, great grandson, great granddaughter) or any spouse of a covered family member who is a lineal descendant. |
• | Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, |
(2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e., Rights of Reinstatement). |
• | The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except any money market funds and retirement plan share classes) of Pioneer Funds held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations (“pricing groups”). This includes all share classes held on the Edward Jones platform and/or held on another platform. The inclusion of eligible fund family assets in the rights of accumulation calculation is dependent on the shareholder notifying his or her financial advisor of such assets at the time of calculation. |
• | ROA is determined by calculating the higher of cost or market value (current shares x NAV). |
• | Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI. The LOI is determined by calculating the higher of cost or market value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts. Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount. The inclusion of eligible fund family assets in the LOI calculation is dependent on the shareholder notifying |
his or her financial advisor of such assets at the time of calculation. Purchases made before the LOI is received by Edward Jones are not covered under the LOI and will not reduce the sales charge previously paid. Sales charges will be adjusted if LOI is not met. |
• | Associates of Edward Jones and its affiliates and their family members who are in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate. This waiver will continue for the remainder of the associate's life if the associate retires from Edward Jones in good-standing. |
• | Shares purchased in an Edward Jones fee-based program. |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment. |
• | Shares purchased from the proceeds of redeemed shares of the same fund family so long as the following conditions are met: 1) the proceeds are from the sale of shares within 60 days of the purchase, and 2) the sale and purchase are made in the same share class and the same account or the purchase is made in an individual retirement account with proceeds from liquidations in a non-retirement account. |
• | Shares exchanged into class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus. |
• | Exchanges
from class C shares to class A shares of the same fund, generally, in the
84
th month
following the anniversary of the purchase date or earlier at the
discretion of Edward Jones. |
• | The death or disability of the shareholder |
• | Systematic withdrawals with up to 10% per year of the account value |
• | Return of excess contributions from an Individual Retirement Account (IRA) |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations |
• | Shares sold to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones |
• | Shares exchanged in an Edward Jones fee-based program |
• | Shares acquired through NAV reinstatement |
• | $250 initial purchase minimum |
• | $50 subsequent purchase minimum |
• | Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy: |
− | A fee-based account held on an Edward Jones platform |
− | A 529 account held on an Edward Jones platform |
− | An account with an active systematic investment plan or letter of intent (LOI) |
• | At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder's holdings in a fund to Class A shares. |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family). |
• | Shares purchased by employees and registered representatives of Janney or its affiliates and their family members as designated by Janney. |
• | Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within ninety (90) days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e., right of reinstatement). |
• | Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans. |
• | Shares acquired through a right of reinstatement. |
• | Class C shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the same fund pursuant to Janney’s policies and procedures. |
• | Shares sold upon the death or disability of the shareholder. |
• | Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus. |
• | Shares purchased in connection with a return of excess contributions from an IRA account. |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations |
• | Shares sold to pay Janney fees but only if the transaction is initiated by Janney. |
• | Shares acquired through a right of reinstatement. |
• | Shares exchanged into the same share class of a different fund. |
• | Breakpoints as described in the fund’s prospectus. |
• | Rights of accumulation (“ROA”), which entitle shareholders to breakpoint discounts, will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Janney. Eligible fund family assets not held at Janney may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets. |
• | Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Janney Montgomery Scott may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets. |
• | Employer-sponsored retirement, deferred compensation and employee benefit plans (including health savings accounts) and trusts used to fund those plans, provided that the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan |
• | Shares purchased by a 529 Plan (does not include 529 Plan units or 529-specific share classes or equivalents) |
• | Shares purchased through a Merrill Lynch affiliated investment advisory program |
• | Shares exchanged due to the holdings moving from a Merrill Lynch affiliated investment advisory program to a Merrill Lynch brokerage (non-advisory) account pursuant to Merrill Lynch’s policies relating to sales charge discounts and waivers |
• | Shares purchased by third party investment advisors on behalf of their advisory clients through Merrill Lynch’s platform |
• | Shares of funds purchased through the Merrill Edge Self-Directed platform (if applicable) |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family) |
• | Shares exchanged from Class C (i.e. level-load) shares of the same fund pursuant to Merrill Lynch’s policies relating to sales charge discounts and waivers |
• | Employees and registered representatives of Merrill Lynch or its affiliates and their family members |
• | Directors or Trustees of the fund, and employees of the fund’s investment adviser or any of its affiliates, as described in this prospectus |
• | Eligible shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill Lynch’s account maintenance fees are not eligible for reinstatement. |
• | Death or disability of the shareholder |
• | Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus |
• | Return of excess contributions from an IRA Account |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code |
• | Shares sold to pay Merrill Lynch fees but only if the transaction is initiated by Merrill Lynch |
• | Shares acquired through a right of reinstatement |
• | Shares held in retirement brokerage accounts, that are exchanged for a lower cost share class due to transfer to certain fee based accounts or platforms (applicable to Class A and C shares only) |
• | Shares received through an exchange due to the holdings moving from a Merrill Lynch affiliated investment advisory program to a Merrill Lynch brokerage (non-advisory) account pursuant to Merrill Lynch’s policies relating to sales charge discounts and waivers |
• | Breakpoints as described in this prospectus |
• | Rights of Accumulation (ROA), which entitle shareholders to breakpoint discounts as described in the fund’s prospectus will be automatically calculated based on the aggregated holding of fund family assets held by accounts (including 529 program holdings, where applicable) within the purchaser’s household at Merrill Lynch. Eligible fund family assets not held at Merrill Lynch may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets |
• | Letters of Intent (LOI) which allow for breakpoint discounts based on anticipated purchases within a fund family, through Merrill Lynch, over a 13-month period of time (if applicable) |
• | Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans |
• | Morgan Stanley employee and employee-related accounts according to Morgan Stanley’s account linking rules |
• | Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund |
• | Shares purchased through a Morgan Stanley self-directed brokerage account |
• | Class C (i.e., level-load) shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the same fund pursuant to Morgan Stanley Wealth Management’s share class conversion program |
• | Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge. |
• | Employer-sponsored retirement, deferred compensation and employee benefit plans (including health savings accounts) and trusts used to fund those plans, provided that the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan |
• | Shares purchased by or through a 529 Plan |
• | Shares purchased through an OPCO affiliated investment advisory program |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family) |
• | Shares purchased form the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same amount, and (3) redeemed shares were subject to a front-end or deferred sales load (known as Rights of Restatement). |
• | A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of OPCO |
• | Employees and registered representatives of OPCO or its affiliates and their family members |
• | Directors or Trustees of the fund, and employees of the fund’s investment adviser or any of its affiliates, as described in this prospectus |
• | Death or disability of the shareholder |
• | Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus |
• | Return of excess contributions from an IRA Account |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching age 70½ as described in the prospectus |
• | Shares sold to pay OPCO fees but only if the transaction is initiated by OPCO |
• | Shares acquired through a right of reinstatement |
• | Breakpoints as described in this prospectus. |
• | Rights of Accumulation (ROA), which entitle shareholders to breakpoint discounts, will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at OPCO. Eligible fund family assets not held at OPCO may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets |
• | Shares purchased in an investment advisory program. |
• | Shares purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions. |
• | Employees and registered representatives of Raymond James or its affiliates and their family members as designated by Raymond James. |
• | Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (known as rights of reinstatement). |
• | A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of Raymond James. |
• | Death or disability of the shareholder. |
• | Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus. |
• | Return of excess contributions from an IRA Account. |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s prospectus. |
• | Shares sold to pay Raymond James fees but only if the transaction is initiated by Raymond James. |
• | Shares acquired through a right of reinstatement. |
• | Breakpoints as described in this prospectus. |
• | Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Raymond James. Eligible fund family assets not held at Raymond James may be included in the calculation of rights of accumulation calculation only if the shareholder notifies his or her financial advisor about such assets. |
• | Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Raymond James may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets. |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing share of the same fund |
• | Share purchase by employees and registers representatives of Baird or its affiliate and their family members as designated by Baird |
• | Shares purchased using the proceeds of redemptions from a Pioneer Fund, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same accounts, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as rights of reinstatement) |
• | A shareholder in the funds Investor C Shares will have their share converted at net asset value to Investor A shares of the same fund if the shares are no longer subject to CDSC and the conversion is in line with the policies and procedures of Baird |
• | Employer-sponsored retirement plans or charitable accounts in a transactional brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs |
• | Shares sold due to death or disability of the shareholder |
• | Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus |
• | Shares bought due to returns of excess contributions from an IRA Account |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable Internal Revenue Service regulations as described in the fund’s prospectus |
• | Shares sold to pay Baird fees but only if the transaction is initiated by Baird |
• | Shares acquired through a right of reinstatement |
• | Breakpoints as described in this prospectus |
• | Rights of accumulations which entitles shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of Pioneer assets held by accounts within the purchaser’s household at Baird. Eligible Pioneer assets not held at Baird may be included in the rights of accumulations calculation only if the shareholder notifies his or her financial advisor about such assets |
• | Letters of Intent (LOI) allow for breakpoint discounts based on anticipated purchases of Pioneer through Baird, over a 13-month period of time |
• | Class C shares that have been held for more than seven (7) years will be converted to Class A shares of the same fund pursuant to Stifel’s policies and procedures |
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Pioneer Distributor, Inc. 60 State Street Boston, MA 02109 us.amundipioneer.com |
20049-16-1120 ©2020 Amundi Pioneer Distributor, Inc. Member SIPC |