UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02864
Pioneer Bond Fund
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Terrence J. Cullen, Amundi Asset Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant’s telephone number, including area code: (617) 742-7825
Date of fiscal year end: June 30, 2022
Date of reporting period: July 1, 2021 through June 30, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.
Pioneer Bond Fund
Annual Report | June 30, 2022
A: PIOBX C: PCYBX K: PBFKX R: PBFRX Y: PICYX
visit us: www.amundi.com/us
Pioneer Bond Fund | Annual Report | 6/30/22 1
President’s Letter
Dear Shareholders,
For two years now, investors have faced unprecedented challenges, as the COVID-19 pandemic has not only dominated the headlines since March 2020, but has also led to significant changes in government and central-bank policies, both in the US and abroad, and affected the everyday lives of each of us. With 2022 now well underway, the situation, while improved, has continued to evolve.
Widespread distribution of the COVID-19 vaccines approved for emergency use in late 2020 led to a general decline in virus-related hospitalizations in the US and had a positive effect on overall market sentiment during most of the 2021 calendar year. The passage of two additional fiscal stimulus packages by US lawmakers in December 2020 and January 2021 also helped drive a strong market rally. Then, the late-2021 emergence of the highly infectious Omicron variant of the virus led to surges in cases and hospitalizations, especially outside of the US, but also in certain areas of this country. That development contributed to a slowdown in the global economic recovery, as some foreign governments reinstated strict virus-containment measures that had been relaxed after the rollout of the vaccines. Many of those renewed restrictions were lifted as case numbers again began to decline during the late-winter months, but it appears the possibility of further virus-containment measures could be with us for a while longer, given that occasional surges in new cases have continued to arise, particularly outside the US.
In the US, while performance of most asset classes, especially equities, was positive for the full 2021 calendar year, 2022, so far, has featured a less-friendly market environment. Volatility in the fixed-income markets has remained high and we have seen negative returns for most asset classes. Meanwhile, equity markets, both domestic and global, have experienced significant underperformance over the first several months of the year. Concerns over global supply chain issues, rising inflation, the enactment of less-accommodative monetary policies from the Federal Reserve System (Fed), and partisan debates in Washington, DC over future spending and tax policies, are among the many factors that have led to greater uncertainty and an increase in market volatility. In addition, Russia's incursion into Ukraine has resulted in even greater market volatility, as economic sanctions placed on Russia by many Western countries have exacerbated the existing supply-chain issues and helped drive energy prices, including gas prices, to very high levels.
In our view, the long-term impact on the global economy from COVID-19, while currently unknown, is likely to be considerable, as it is clear that several industries have already felt greater effects than others, and could continue to struggle for quite some time. Of course, geopolitical concerns, whether they are related to the conflict in Ukraine or other crises in different areas of the globe, can always have an effect on the markets, and so our investment teams will remain vigilant and continue to monitor the geopolitical landscape.
2 Pioneer Bond Fund | Annual Report | 6/30/22
At the outset of the pandemic, we temporarily closed our offices and instituted a work-from-home policy, but have since re-opened our US locations. However, we have been maintaining all the necessary precautions, which at times may have us working more remotely than in person in order to ensure a safe working environment as new variants of the COVID-19 virus continue to arise and spread. I am proud of the careful planning that has taken place. Throughout the pandemic, our business has continued to operate without any disruption, and we all look forward to regaining a bit of normalcy after so many months of remote working.
Since 1928, Amundi US’s investment process has been built on a foundation of fundamental research and active management, principles which have guided our investment decisions for more than 90 years. We believe active management – that is, making active investment decisions – can help mitigate the risks during periods of market volatility.
At Amundi US, active management begins with our own fundamental, bottom-up research process. Our team of dedicated research analysts and portfolio managers analyzes each security under consideration, communicating frequently with the management teams of the companies and other entities issuing the securities, and working together to identify those securities that best meet our investment criteria for our family of funds. Our risk management approach begins with each and every security, as we strive to carefully understand the potential opportunity, while considering any and all risk factors.
Today, as investors, we have many options. It is our view that active management can serve shareholders well, not only when markets are thriving, but also during periods of market stress.
As you consider your long-term investment goals, we encourage you to work with your financial professional to develop an investment plan that paves the way for you to pursue both your short-term and long-term goals.
We greatly appreciate the trust you have placed in us and look forward to continuing to serve you in the future.
Sincerely,
Lisa M. Jones
Head of the Americas, President and CEO of US
Amundi Asset Management US, Inc.
August 2022
Any information in this shareowner report regarding market or economic trends or the factors influencing the Fund’s historical or future performance are statements of opinion as of the date of this report. Past performance is no guarantee of future results.
Pioneer Bond Fund | Annual Report | 6/30/22 3
Portfolio Management Discussion | 6/30/22
In the following interview, Brad Komenda discusses the factors that affected the performance of Pioneer Bond Fund during the 12-month period ended June 30, 2022. Mr. Komenda, a Managing Director and Director of Investment-Grade Corporates, and a portfolio manager at Amundi Asset Management US, Inc. (Amundi US), is responsible for the daily management of the Fund, along with Kenneth J. Taubes, Executive Vice President and Chief Investment Officer, US, and a portfolio manager at Amundi US, Timothy Rowe, Managing Director, Director of Multi-Sector Fixed Income, and a portfolio manager at Amundi US, and Jonathan Scott, a Senior Vice President, Deputy Director of Multi-Sector Fixed Income, and a portfolio manager at Amundi US.
Q | | How did the Fund perform during the 12-month period ended June 30, 2022? |
A | | Pioneer Bond Fund’s Class A shares returned -10.66% at net asset value during the 12-month period ended June 30, 2022, while the Fund’s benchmark, the Bloomberg US Aggregate Bond Index (the Bloomberg Index), returned -10.29%. During the same 12-month period, the average return of the 607 mutual funds in Morningstar’s Intermediate Core-Plus Bond Funds Category was -11.10%. |
Q | | How would you describe the investment environment in the fixed-income markets during the 12-month period ended June 30, 2022? |
A | | As the period opened, market conditions benefited from a continued economic recovery driven by the rollout of COVID-19 vaccines, easy monetary and fiscal policies, and strong corporate profits. As 2021 progressed, investors began dealing with accelerating inflation, rising oil prices, supply chain disruptions, and a tight labor market. Those developments led to a hawkish shift in tone among various central banks in the fourth quarter of 2021, in response to higher and persistent inflation. Most notably, the fourth quarter saw the US Federal Reserve (Fed) double its previously announced pace for reducing its purchases of Treasuries and mortgage-backed securities, or MBS (known as “quantitative easing”), utilized to keep longer-term borrowing costs low. The Fed also signaled three potential increases in its benchmark overnight federal funds rate target range in 2022 and another two in 2023. |
4 Pioneer Bond Fund | Annual Report | 6/30/22
The first quarter of 2022 saw negative market sentiment driven by increased geopolitical tensions, a worsening growth/inflation mix arising from a spike in commodity prices, and the prospect of rising interest rates due to expectations for changing central-bank monetary policies. In combination, those factors contributed to losses across most fixed-income asset classes over the second half of the 12-month period. Russia’s invasion of Ukraine in late February, together with US and European sanctions on Russia, led to a spike in energy, metals, and food prices, which added to downside risk to real economic growth and to upside risk to inflation. In addition, another round of lockdowns in China in the wake of increasing COVID-19 infection rates exacerbated supply chain disruptions and raised concerns about further risks to global economic growth.
At its mid-March meeting, the Federal Open Market Committee (FOMC) raised the federal funds rate target range by a quarter-point, to 0.25%-0.50%, and indicated that further increases in the benchmark overnight lending rate would follow rapidly. The Fed also formally ended its pandemic-era quantitative easing program and signaled it would soon begin reducing its holdings of Treasury securities and agency MBS by reinvesting only part of the proceeds from maturing securities. The Fed went on to implement hikes of 50 basis points and 75 basis points (bps) in May and June, respectively, bringing the federal funds target up to a range of 1.50% to 1.75%, its highest level since before the onset of the pandemic in March of 2020. (A basis point is equal to 1/100th of a percentage point.)
Against this backdrop, the US Treasury yield curve moved higher, with yield increases most significant on securities with shorter maturities as the market priced-in the Fed’s interest-rate increases. For the 12-month period ended June 30, 2022, the two-year Treasury yield finished 268 bps higher, increasing from 0.25% to 2.92%, while the 10-year yield rose 153 bps, from 1.45% to 2.98%, and the 30-year yield rose by 108 bps, from 2.06% to 3.14%.
Rising Treasury yields and widening credit spreads weighed on bond market returns for the period. (Credit spreads are commonly defined as the differences in yield between Treasuries and other types of fixed-income securities with similar maturities.) The investment-grade corporate bond market posted a return of -11.10%. Within the investment-grade market, corporate bonds were the biggest laggards for the 12-month period, while securitized assets and Treasuries were also well into negative territory.
Pioneer Bond Fund | Annual Report | 6/30/22 5
Below-investment-grade, high-yield corporate bonds performed comparably to their investment-grade counterparts, returning -12.81% for the 12-month period.
Q | | What factors influenced the Fund’s performance relative to the Bloomberg Index during the 12-month period ended June 30, 2022? |
A | | The portfolio’s sector allocation results weighed on the Fund’s benchmark-relative returns during the period, most notably an underweight to US Treasuries versus the Bloomberg Index, as credit sectors, including investment-grade corporate bonds, underperformed Treasuries. In addition, the Fund’s allocation to non-agency MBS had a negative effect on relative results. A modest allocation to convertible securities also detracted from relative returns, largely due to a position in the banking sector, which performed poorly, due to its long spread duration (or sensitivity to changes in credit spreads). |
Within the Fund’s corporate exposures, the lower-quality of the portfolio’s holdings (versus the Bloomberg Index) within the industrials and financials sectors detracted from relative returns. The portfolio was overweight to “BBB” rated and high-yield issues within those sectors during a period that saw credit spreads widen notably. Within industrials, exposure to commodity- and aviation-related issues constrained relative results. In financials, the Fund’s relative performance struggled, due to the underperformance of holdings of subordinated-debt issues, and the debt of an aircraft-leasing firm.
The negative impact of the portfolio’s underweight to Treasuries was partially offset by holdings of high-yield, index-based credit-default-swap positions, which we utilized in an attempt to hedge credit risk. Those positions contributed positively to the Fund’s relative performance as credit spreads widened over the second half of the 12-month period.
Overall security selection results were essentially a neutral factor in the Fund’s relative performance for the period. With regard to security selection within agency MBS, an overweight to higher-coupon issues that have featured less prepayment sensitivity modestly benefited relative returns.
6 Pioneer Bond Fund | Annual Report | 6/30/22
The Fund’s short-duration positioning versus the benchmark aided relative performance during the period, as US Treasury yields as well as European rates moved higher in early 2022. (Duration is a measure of the sensitivity of the price, or the value of principal, of a fixed-income investment to a change in interest rates, expressed as a number of years.) Yield-curve positioning slightly offset that positive. We had positioned the Fund to benefit from a potential steepening of the curve, with an underweight to longer maturities. The positioning weighed on benchmark-relative returns as the yield curve flattened over the period.
Q | | Did the Fund have any investments in derivative securities during the 12-month period ended June 30, 2022? If so, did the derivatives have any material impact on performance? |
A | | Yes, as noted earlier, we invested the portfolio in high-yield, index-based credit-default-swaps during the period, which aided relative returns. We also invested in Treasury futures. We have used Treasury futures as part of our duration-management strategy for the portfolio. We believe the use of Treasury futures has allowed us to express our views on duration and yield-curve positioning in the most efficient manner. We typically have used the credit-default-swap positions as part of our efforts to either gain or reduce the Fund’s exposures to both investment-grade and high-yield corporate bonds very quickly, as cash-bond transactions take a little more time to settle, and have a higher liquidity cost. The use of derivatives, we think, may allow the Fund to potentially benefit from the performance impact of the targeted asset class, while retaining a better liquidity profile, which may help reduce risk. |
Q | | What factors affected the Fund’s yield, or distributions* to shareholders, during the 12-month period ended June 30, 2022? |
A | | In the first half of the period, tightening credit spreads reduced the Fund’s yield as the market started to look beyond COVID-19 and spread levels became more reflective of expectations of economic stability. As the period progressed, however, rising Treasury yields and a widening in credit spreads helped the Fund’s monthly distribution rate recover somewhat, while having a negative effect on total returns (due to declining bond prices). With that said, as of June 30, 2022, the Fund’s monthly distribution rate was lower than it was at the beginning of the period in July 2021. |
* Distributions are not guaranteed.
Pioneer Bond Fund | Annual Report | 6/30/22 7
Q | | What is your investment outlook, and how is the Fund positioned heading into the second half of its fiscal year? |
A | | The financial media has framed the question as: “Is the economy headed for recession?” In our view, the focus on “recession, or not,” is too simplistic. We believe it is better to consider the full range of possible outcomes. First, with the Fed apparently determined to slow the economy in order to control inflation, the best-case scenario, in our view, is a "soft landing." Even in that scenario, economic growth could be relatively slow and the unemployment rate could rise. Secondly, historically there has usually been a significant difference between the investment implications of a mild recession and a severe recession. We believe some characteristics of the current economic environment increase the likelihood of a mild recession: household and business balance sheets are mostly strong, and risks in the financial system appear to be manageable. At present, we believe that a meaningful economic slowdown has been priced into the market, as spreads have widened significantly from last year’s tighter levels. |
A severe recession, in our view, is more likely to have ties to a Fed policy mistake, or an unforeseen global crisis. Fed Chair Powell and others have indicated that they intend to keep tightening policy until reported inflation numbers come down. Since inflation is typically a lagging economic indicator, such a policy framework could result in the Fed’s raising rates too far and thus causing a “hard landing” for the economy. After being too slow to tighten policy as the economy recovered from the COVID-19-driven recession, the Fed now seems at risk of making another mistake by perhaps being too late to respond to weaker economic conditions. We suspect this is mostly a communications problem, and that the FOMC could take a more forward-looking approach in setting the level of the federal funds target range once it has raised rates to neutral. However, with current inflation readings well above target and the federal funds rate still below neutral, we believe the Fed wants to communicate a simple and forceful message to keep inflation expectations from becoming unanchored.
8 Pioneer Bond Fund | Annual Report | 6/30/22
For the next few months, at least, we expect FOMC members to continue to say they will do whatever it takes to bring down inflation. In that scenario, we believe growing “hard landing” concerns among investors favor adding to the portfolio’s duration and being very selective with regard to credit exposures.
Please refer to the Schedule of Investments on pages 20–90 for a full listing of Fund securities.
All investments are subject to risk, including the possible loss of principal. In the past several years, financial markets have experienced increased volatility and heightened uncertainty. The market prices of securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, recessions, inflation, changes in interest or currency rates, lack of liquidity in the bond markets, the spread of infectious illness or other public health issues, armed conflict including Russia's military invasion of Ukraine, sanctions against Russia, other nations or individuals or companies and possible countermeasures, or adverse investor sentiment. These conditions may continue, recur, worsen or spread.
The Fund’s investments, payment obligations and financing terms may be based on floating rates, such as LIBOR (London Interbank Offered Rate) or SOFR (Secured Overnight Financing Rate). Plans are underway to phase out the use of LIBOR. There remains uncertainty regarding the nature of any replacement rate and the impact of the transition from LIBOR on the Fund, issuers of instruments in which the Fund invests, and financial markets generally.
The market price of securities may fluctuate when interest rates change. When interest rates rise, the prices of fixed income securities in the Fund will generally fall. Conversely, when interest rates fall, the prices of fixed income securities in the Fund will generally rise.
Investments in the Fund are subject to possible loss due to the financial failure of issuers of underlying securities and their inability to meet their debt obligations.
Prepayment risk is the chance that an issuer may exercise its right to prepay its security, if falling interest rates prompt the issuer to do so. Forced to reinvest the unanticipated proceeds at lower interest rates, the Fund would experience a decline in income and lose the opportunity for additional price appreciation.
Investments in high-yield or lower rated securities are subject to greater-than-average price volatility, illiquidity and possibility of default.
Pioneer Bond Fund | Annual Report | 6/30/22 9
The securities issued by U.S. Government-sponsored entities (e.g., FNMA, Freddie Mac) are neither guaranteed nor issued by the U.S. Government.
The Fund may invest in mortgage-backed securities, which during times of fluctuating interest rates may increase or decrease more than other fixed-income securities. Mortgage-backed securities are also subject to pre-payments.
Before investing, consider the product’s investment objectives, risks, charges and expenses. Contact your financial professional or Amundi Asset Management US, Inc., for a prospectus or summary prospectus containing this information. Read it carefully.
Any information in this shareholder report regarding market or economic trends or the factors influencing the Fund’s historical or future performance are statements of opinion as of the date of this report. Past performance is no guarantee of future results.
10 Pioneer Bond Fund | Annual Report | 6/30/22
Portfolio Summary | 6/30/22
Portfolio Diversification
(As a percentage of total investments)*
10 Largest Holdings | |
(As a percentage of total investments)* | |
1. | U.S. Treasury Bills, 7/7/22 | 4.71% |
2. | U.S. Treasury Bills, 7/5/22 | 4.19 |
3. | Fannie Mae, 2.50%, 7/1/52 (TBA) | 4.18 |
4. | U.S. Treasury Bills, 7/26/22 | 2.84 |
5. | Fannie Mae, 2.00%, 7/1/52 (TBA) | 2.80 |
6. | U.S. Treasury Bills, 7/19/22 | 2.45 |
7. | Fannie Mae, 4.50%, 7/1/52 (TBA) | 2.20 |
8. | Government National Mortgage Association, 2.50%, 7/20/52 (TBA) | 1.40 |
9. | Wells Fargo & Co., 7.50% | 1.10 |
10. | Fannie Mae, 5.00%, 7/1/52 (TBA) | 1.06 |
* | | Excludes short-term investments and all derivative contracts except for options purchased. The Fund is actively managed, and current holdings may be different. The holdings listed should not be considered recommendations to buy or sell any securities. |
Pioneer Bond Fund | Annual Report | 6/30/22 11
Prices and Distributions | 6/30/22
Net Asset Value per Share
| | |
Class | 6/30/22 | 6/30/21 |
A | $8.60 | $10.14 |
C | $8.51 | $10.03 |
K | $8.60 | $10.13 |
R | $8.68 | $10.23 |
Y | $8.51 | $10.04 |
| | | |
Distributions per Share: 7/1/21–6/30/22 | |
| Net Investment | Short-Term | Long-Term |
Class | Income | Capital Gains | Capital Gains |
A | $0.1640 | $0.1380 | $0.2078 |
C | $0.1010 | $0.1380 | $0.2078 |
K | $0.2103 | $0.1380 | $0.2078 |
R | $0.1408 | $0.1380 | $0.2078 |
Y | $0.1978 | $0.1380 | $0.2078 |
Index Definition
The Bloomberg U.S. Aggregate Bond Index is an unmanaged measure of the US bond market. Index returns are calculated monthly, assume reinvestment of dividends and, unlike Fund returns, do not reflect any fees, expenses or sales charges. It is not possible to invest directly in an index.
The index defined here pertains to the “Value of $10,000 Investment” and “Value of $5 Million Investment” charts on pages 13–17.
12 Pioneer Bond Fund | Annual Report | 6/30/22
Performance Update | 6/30/22 | Class A Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class A shares of Pioneer Bond Fund at public offering price during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
| | | |
Average Annual Total Returns | |
(As of June 30, 2022) | | |
|
| | | Bloomberg |
| Net | Public | U.S. |
| Asset | Offering | Aggregate |
| Value | Price | Bond |
Period | (NAV) | (POP) | Index |
10 years | 2.36% | 1.89% | 1.54% |
5 years | 1.32 | 0.38 | 0.88 |
1 year | -10.66 | -14.69 | -10.29 |
Expense Ratio |
(Per prospectus dated November 1, 2021) |
Gross |
0.82% |
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
NAV results represent the percent change in net asset value per share. NAV returns would have been lower had sales charges been reflected. POP returns reflect deduction of maximum 4.50% sales charge. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareowner would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/22 13
Performance Update | 6/30/22 | Class C Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class C shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
| | | |
Average Annual Total Returns | |
(As of June 30, 2022) | |
|
| | | Bloomberg |
| | | U.S. |
| | | Aggregate |
| If | If | Bond |
Period | Held | Redeemed | Index |
10 years | 1.61% | 1.61% | 1.54% |
5 years | 0.67 | 0.67 | 0.88 |
1 year | -11.16 | -12.01 | -10.29 |
|
Expense Ratio |
(Per prospectus dated November 1, 2021) |
Gross |
1.43% |
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class C shares held for less than one year are subject to a 1% contingent deferred sales charge (CDSC). “If Held” results represent the percent change in net asset value per share. “If Redeemed” returns reflect deduction of the CDSC for the one-year period, assuming a complete redemption of shares at the last price calculated on the last business day of the period, and no CDSC for the five- and 10-year periods. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareowner would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
14 Pioneer Bond Fund | Annual Report | 6/30/22
Performance Update | 6/30/22 | Class K Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $5 million investment made in Class K shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
| | |
Average Annual Total Returns |
(As of June 30, 2022) |
|
| | Bloomberg |
| Net | U.S. |
| Asset | Aggregate |
| Value | Bond |
Period | (NAV) | Index |
10 years | 2.75% | 1.54% |
5 years | 1.78 | 0.88 |
1 year | -10.12 | -10.29 |
|
Expense Ratio |
(Per prospectus dated November 1, 2021) |
Gross |
0.34% |
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
The performance shown for Class K shares for the period prior to the commencement of operations of Class K shares on December 20, 2012, is the net asset value performance of the Fund’s Class A shares, which has not been restated to reflect any differences in expenses, including Rule 12b-1 fees applicable to Class A shares. Since fees for Class A shares generally are higher than those of Class K shares, the performance of Class K shares prior to their inception would have been higher than the performance shown. Class K shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareowner would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/22 15
Performance Update | 6/30/22 | Class R Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $10,000 investment made in Class R shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
| | |
Average Annual Total Returns |
(As of June 30, 2022) |
|
| | Bloomberg |
| Net | U.S. |
| Asset | Aggregate |
| Value | Bond |
Period | (NAV) | Index |
10 years | 2.07% | 1.54% |
5 years | 1.06 | 0.88 |
1 year | -10.88 | -10.29 |
|
Expense Ratio |
(Per prospectus dated November 1, 2021) |
Gross |
1.08% |
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class R shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareowner would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
16 Pioneer Bond Fund | Annual Report | 6/30/22
Performance Update | 6/30/22 | Class Y Shares |
Investment Returns
The mountain chart on the right shows the change in value of a $5 million investment made in Class Y shares of Pioneer Bond Fund during the periods shown, compared to that of the Bloomberg U.S. Aggregate Bond Index.
Average Annual Total Returns |
(As of June 30, 2022) |
| | Bloomberg |
| Net | U.S. |
| Asset | Aggregate |
| Value | Bond |
Period | (NAV) | Index |
10 years | 2.65% | 1.54% |
5 years | 1.65 | 0.88 |
1 year | -10.34 | -10.29 |
|
Expense Ratio |
(Per prospectus dated November 1, 2021) |
Gross |
0.45% |
Call 1-800-225-6292 or visit www.amundi.com/us for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted.
The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Class Y shares are not subject to sales charges and are available for limited groups of eligible investors, including institutional investors. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers Fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes that a shareowner would pay on Fund distributions or the redemption of Fund shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/22 17
Comparing Ongoing Fund Expenses
As a shareowner in the Fund, you incur two types of costs:
(1) | | ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses; and |
(2) | | transaction costs, including sales charges (loads) on purchase payments. |
This example is intended to help you understand your ongoing expenses (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 at the beginning of the Fund’s latest six-month period and held throughout the six months.
Using the Tables
Actual Expenses
The first table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you paid over the period as follows:
(1) | | Divide your account value by $1,000 |
Example: an $8,600 account value ÷ $1,000 = 8.6
(2) | | Multiply the result in (1) above by the corresponding share class’s number in the third row under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period. |
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on actual returns from January 1, 2022 through June 30, 2022.
| | | | | |
Share Class | A | C | K | R | Y |
Beginning | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Account Value | | | | | |
on 1/1/22 | | | | | |
Ending Account | $892.50 | $890.30 | $894.60 | $891.30 | $894.00 |
Value (after | | | | | |
expenses) | | | | | |
on 6/30/22 | | | | | |
Expenses Paid | $3.71 | $6.70 | $1.55 | $5.02 | $2.07 |
During Period* | | | | | |
* | | Expenses are equal to the Fund’s annualized expense ratio of 0.79%, 1.43%, 0.33%, 1.07%, and 0.44% for Class A, Class C, Class K, Class R, and Class Y shares, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the partial year period). |
18 Pioneer Bond Fund | Annual Report | 6/30/22
Hypothetical Example for Comparison Purposes
The table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales charges (loads) that are charged at the time of the transaction. Therefore, the table below is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on a hypothetical 5% per year return before expenses, reflecting the period from January 1, 2022 through June 30, 2022.
| | | | | |
Share Class | A | C | K | R | Y |
Beginning | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Account Value | | | | | |
on 1/1/22 | | | | | |
Ending Account | $1,020.88 | $1,017.70 | $1,023.16 | $1,019.49 | $1,022.61 |
Value (after | | | | | |
expenses) | | | | | |
on 6/30/22 | | | | | |
Expenses Paid | $3.96 | $7.15 | $1.66 | $5.36 | $2.21 |
During Period* | | | | | |
* | | Expenses are equal to the Fund’s annualized expense ratio of 0.79%, 1.43%, 0.33%, 1.07%, and 0.44% for Class A, Class C, Class K, Class R, and Class Y shares, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the partial year period). |
Pioneer Bond Fund | Annual Report | 6/30/22 19
Schedule of Investments | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| UNAFFILIATED ISSUERS — 119.9% | |
| SENIOR SECURED FLOATING RATE LOAN | |
| INTERESTS — 0.5% of Net Assets*(a) | |
| Chemicals-Diversified — 0.1% | |
1,411,462 | LSF11 A5 HoldCo LLC, Term Loan, 5.14% (SOFR + | |
| 350 bps), 10/15/28 | $ 1,324,570 |
4,321,350 | Schweitzer-Mauduit International, Inc., Term B Loan, | |
| 5.438% (LIBOR + 375 bps), 4/20/28 | 4,105,283 |
| Total Chemicals-Diversified | $ 5,429,853 |
| Electric-Generation — 0.0%† | |
573,153 | Eastern Power, LLC (Eastern Covert Midco, LLC), | |
| Term Loan, 6.00% (LIBOR + 375 bps), 10/2/25 | $ 488,135 |
| Total Electric-Generation | $ 488,135 |
| Electronic Composition — 0.0%† | |
1,016,664 | Energy Acquisition LP, First Lien Initial Term Loan, | |
| 4.25% (LIBOR + 425 bps), 6/26/25 | $ 927,706 |
| Total Electronic Composition | $ 927,706 |
| Finance-Leasing Company — 0.0%† | |
617,653 | Avolon TLB Borrower 1 (US) LLC, Term B-4 Loan, | |
| 3.095% (LIBOR + 150 bps), 2/12/27 | $ 584,917 |
| Total Finance-Leasing Company | $ 584,917 |
| Human Resources — 0.0%† | |
931,407 | Team Health Holdings, Inc., Extended Term Loan, | |
| 6.775% (Term SOFR + 525 bps), 3/2/27 | $ 792,861 |
| Total Human Resources | $ 792,861 |
| Medical-Wholesale Drug Distribution — 0.1% | |
2,209,462 | Owens & Minor, Inc., Term B-1 Loan, 5.375% (Term | |
| SOFR + 375 bps), 3/29/29 | $ 2,195,653 |
| Total Medical-Wholesale Drug Distribution | $ 2,195,653 |
| Metal Processors & Fabrication — 0.1% | |
3,498,562 | Grinding Media, Inc. (Molycop, Ltd.), First Lien Initial | |
| Term Loan, 4.796% (LIBOR + 400 bps), 10/12/28 | $ 3,201,185 |
| Total Metal Processors & Fabrication | $ 3,201,185 |
| Recreational Centers — 0.0%† | |
190,787 | Fitness International LLC, Term B Loan, 4.916% (LIBOR + | |
| 325 bps), 4/18/25 | $ 170,516 |
| Total Recreational Centers | $ 170,516 |
| Rental Auto & Equipment — 0.0%† | |
1,114,400 | PECF USS Intermediate Holding III Corp., Initial Term Loan, | |
| 5.916% (LIBOR + 425 bps), 12/15/28 | $ 1,010,482 |
| Total Rental Auto & Equipment | $ 1,010,482 |
The accompanying notes are an integral part of these financial statements.
20 Pioneer Bond Fund | Annual Report | 6/30/22
Principal | | |
Amount | | |
USD ($) | | Value |
| Retail — 0.0%† | |
347,697 | Staples, Inc., 2019 Refinancing New Term B-2 Loan, 5.786% | |
| (LIBOR + 450 bps), 9/12/24 | $ 316,186 |
| Total Retail | $ 316,186 |
| Retail-Restaurants — 0.1% | |
1,380,065 | 1011778 B.C. Unlimited Liability Co., Term B-4 Loan, | |
| 3.416% (LIBOR + 175 bps), 11/19/26 | $ 1,320,722 |
| Total Retail-Restaurants | $ 1,320,722 |
| Schools — 0.0%† | |
1,063,759 | KUEHG Corp. (fka KC MergerSub, Inc.), Term B-3 Loan, | |
| 6.00% (LIBOR + 375 bps), 2/21/25 | $ 993,950 |
| Total Schools | $ 993,950 |
| Telephone-Integrated — 0.0%† | |
809,587 | Level 3 Financing, Inc., Tranche B 2027 Term Loan, 3.416% | |
| (LIBOR + 175 bps), 3/1/27 | $ 752,241 |
| Total Telephone-Integrated | $ 752,241 |
| Transport-Equipment & Leasing — 0.1% | |
2,633,125 | IBC Capital I, Ltd., First Lien Tranche B-1 Term Loan, 5.78% | |
| (LIBOR + 375 bps), 9/11/23 | $ 2,400,257 |
| Total Transport-Equipment & Leasing | $ 2,400,257 |
| TOTAL SENIOR SECURED FLOATING RATE | |
| LOAN INTERESTS | |
| (Cost $21,962,773) | $ 20,584,664 |
| ASSET BACKED SECURITIES — 8.2% of Net Assets | |
500,000 | 321 Henderson Receivables III LLC, Series 2008-1A, | |
| Class B, 8.37%, 1/15/46 (144A) | $ 535,979 |
348,995(a) | 321 Henderson Receivables LLC, Series 2005-1A, | |
| Class A1, 1.554% (1 Month USD LIBOR + 23 bps), | |
| 11/15/40 (144A) | 341,330 |
3,000,000(a) | 522 Funding CLO, Ltd., Series 2018-3A, Class E, 7.213% | |
| (3 Month USD LIBOR + 615 bps), 10/20/31 (144A) | 2,641,311 |
1,750,000(a) | ABPCI Direct Lending Fund CLO X LP, Series 2020-10A, | |
| Class A1A, 3.013% (3 Month USD LIBOR + | |
| 195 bps), 1/20/32 (144A) | 1,719,084 |
2,773,931 | Accelerated LLC, Series 2021-1H, Class C, 2.35%, | |
| 10/20/40 (144A) | 2,526,703 |
4,000,000 | American Credit Acceptance Receivables Trust, | |
| Series 2019-2, Class E, 4.29%, 6/12/25 (144A) | 3,989,563 |
2,676,000 | Amur Equipment Finance Receivables VII LLC, | |
| Series 2019-1A, Class E, 4.47%, 3/20/25 (144A) | 2,616,567 |
5,415,000 | Aqua Finance Trust, Series 2019-A, Class C, 4.01%, | |
| 7/16/40 (144A) | 5,199,017 |
2,110,000 | Aqua Finance Trust, Series 2020-AA, Class C, 3.97%, | |
| 7/17/46 (144A) | 1,990,481 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 21
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| ASSET BACKED SECURITIES — (continued) | |
6,975,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., | |
| Series 2021-FL3, Class C, 3.174% (1 Month USD | |
| LIBOR + 185 bps), 8/15/34 (144A) | $ 6,478,171 |
9,175,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., | |
| Series 2021-FL4, Class D, 4.224% (1 Month USD | |
| LIBOR + 290 bps), 11/15/36 (144A) | 8,762,657 |
11,740,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., | |
| Series 2022-FL1, Class C, 3.079% (SOFR30A + | |
| 230 bps), 1/15/37 (144A) | 11,152,991 |
10,600,000(a) | Arbor Realty Commercial Real Estate Notes, Ltd., | |
| Series 2022-FL2, Class C, 4.729% (1 Month Term | |
| SOFR + 345 bps), 5/15/37 (144A) | 10,247,574 |
2,000,000 | Avid Automobile Receivables Trust, Series 2019-1, | |
| Class C, 3.14%, 7/15/26 (144A) | 1,983,731 |
2,000,000(a) | Benefit Street Partners CLO XIX, Ltd., Series 2019-19A, | |
| Class E, 8.064% (3 Month USD LIBOR + | |
| 702 bps), 1/15/33 (144A) | 1,835,512 |
8,726,186 | Blackbird Capital Aircraft, Series 2021-1A, Class A, | |
| 2.443%, 7/15/46 (144A) | 7,469,500 |
4,980,000(a) | BSPRT Issuer, Ltd., Series 2022-FL8, Class C, 3.079% | |
| (SOFR30A + 230 bps), 2/15/37 (144A) | 4,879,296 |
277,464 | BXG Receivables Note Trust, Series 2015-A, Class A, | |
| 2.88%, 5/2/30 (144A) | 273,970 |
2,750,000(a) | Carlyle US CLO, Ltd., Series 2019-4A, Class CR, 4.046% | |
| (3 Month Term SOFR + 320 bps), 4/15/35 (144A) | 2,534,788 |
6,120,676(b) | Cascade MH Asset Trust, Series 2019-MH1, Class A, | |
| 4.00%, 11/25/44 (144A) | 5,815,961 |
4,405,000 | Commercial Equipment Finance LLC, Series 2021-A, | |
| Class C, 3.55%, 12/15/28 (144A) | 4,157,527 |
373,724(a) | Commonbond Student Loan Trust, Series 2017-BGS, | |
| Class A2, 2.274% (1 Month USD LIBOR + | |
| 65 bps), 9/25/42 (144A) | 366,464 |
3,910,322 | Continental Credit Card ABS LLC, Series 2019-1A, | |
| Class A, 3.83%, 8/15/26 (144A) | 3,876,835 |
2,400,000 | DataBank Issuer, Series 2021-1A, Class B, 2.65%, | |
| 2/27/51 (144A) | 2,133,649 |
514,178 | Diamond Resorts Owner Trust, Series 2019-1A, Class B, | |
| 3.53%, 2/20/32 (144A) | 503,470 |
8,342,963 | Domino’s Pizza Master Issuer LLC, Series 2019-1A, | |
| Class A2, 3.668%, 10/25/49 (144A) | 7,551,624 |
1,515,000 | Drive Auto Receivables Trust, Series 2020-2, Class D, | |
| 3.05%, 5/15/28 | 1,496,164 |
4,200,000(a) | Dryden 78 CLO, Ltd., Series 2020-78A, Class E, 7.644% | |
| (3 Month USD LIBOR + 660 bps), 4/17/33 (144A) | 3,796,552 |
1,650,000 | Elm Trust, Series 2020-3A, Class A2, 2.954%, | |
| 8/20/29 (144A) | 1,587,465 |
4,000,000 | ExteNet LLC, Series 2019-1A, Class C, 5.219%, | |
| 7/26/49 (144A) | 3,802,586 |
153,253 | FCI Funding LLC, Series 2019-1A, Class A, 3.63%, | |
| 2/18/31 (144A) | 153,331 |
The accompanying notes are an integral part of these financial statements.
22 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| ASSET BACKED SECURITIES — (continued) | |
188,421 | FCI Funding LLC, Series 2019-1A, Class B, 0.000%, | |
| 2/18/31 (144A) | $ 188,199 |
12,575,000(b) | Finance of America HECM Buyout, Series 2022-HB1, | |
| Class M3, 5.084%, 2/25/32 (144A) | 12,075,474 |
5,377,316 | Finance of America Structured Securities Trust, Series | |
| 2021-S2, Class A2, 1.75%, 9/25/51 | 5,033,252 |
8,086,485(b) | Finance of America Structured Securities Trust, Series | |
| 2022-S1, Class A1, 2.00%, 2/25/52 | 7,502,475 |
8,428,790(b) | Finance of America Structured Securities Trust, Series | |
| 2022-S1, Class A2, 3.00%, 2/25/52 | 7,759,755 |
1,575,000(a) | First Eagle BSL CLO, Ltd., Series 2019-1A, Class C, | |
| 5.413% (3 Month USD LIBOR + 435 bps), 1/20/33 (144A) | 1,483,722 |
1,000,000(a) | First Eagle BSL CLO, Ltd., Series 2019-1A, Class D, | |
| 8.763% (3 Month USD LIBOR + 770 bps), 1/20/33 (144A) | 895,098 |
1,000,000(a) | Fort Washington CLO, Series 2019-1A, Class ER, 7.813% | |
| (3 Month USD LIBOR + 675 bps), 10/20/32 (144A) | 842,344 |
3,440,000 | Foundation Finance Trust, Series 2019-1A, Class B, | |
| 4.22%, 11/15/34 (144A) | 3,358,185 |
3,590,393 | Foundation Finance Trust, Series 2021-1A, Class A, | |
| 1.27%, 5/15/41 (144A) | 3,322,197 |
4,200,000 | Four Seas LP, Series 2017-1A, Class A2, 5.927%, | |
| 8/28/27 (144A) | 3,578,631 |
3,000,000(a) | Goldentree Loan Management US CLO 6, Ltd., | |
| Series 2019-6A, Class DR, 3.951% (3 Month Term SOFR + | |
| 310 bps), 4/20/35 (144A) | 2,751,292 |
3,999,188 | Hardee’s Funding LLC, Series 2018-1A, Class A2II, | |
| 4.959%, 6/20/48 (144A) | 3,895,832 |
3,440,000(a) | HGI CRE CLO, Ltd., Series 2021-FL2, Class C, 3.309% | |
| (1 Month USD LIBOR + 180 bps), 9/17/36 (144A) | 3,216,176 |
573,192 | HIN Timeshare Trust, Series 2020-A, Class D, 5.50%, | |
| 10/9/39 (144A) | 550,652 |
5,920,263 | HOA Funding LLC - HOA, Series 2021-1A, Class A2, | |
| 4.723%, 8/20/51 (144A) | 5,041,388 |
3,096,605 | Home Partners of America Trust, Series 2019-1, Class D, | |
| 3.406%, 9/17/39 (144A) | 2,805,771 |
4,293,127 | Home Partners of America Trust, Series 2019-2, Class E, | |
| 3.32%, 10/19/39 (144A) | 3,745,943 |
2,400,372 | Horizon Funding LLC, Series 2019-1A, Class A1, 4.21%, | |
| 9/15/27 (144A) | 2,380,869 |
666,243 | Icon Brand Holdings LLC, Series 2012-1A, Class A, | |
| 4.229%, 1/25/43 (144A) | 199,890 |
183,300 | Icon Brand Holdings LLC, Series 2013-1A, Class A2, | |
| 4.352%, 1/25/43 (144A) | 54,995 |
3,349,520(a) | Invitation Homes Trust, Series 2018-SFR1, Class C, | |
| 2.773% (1 Month USD LIBOR + 125 bps), 3/17/37 (144A) | 3,290,668 |
3,298,022 | J.G. Wentworth XLI LLC, Series 2018-1A, Class A, 3.74%, | |
| 10/17/72 (144A) | 3,105,247 |
5,291,415 | JG Wentworth XLIII LLC, Series 2019-1A, Class A, 3.82%, | |
| 8/17/71 (144A) | 4,991,867 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 23
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| ASSET BACKED SECURITIES — (continued) | |
178,012 | JG Wentworth XXII LLC, Series 2010-3A, Class A, 3.82%, | |
| 12/15/48 (144A) | $ 176,134 |
1,950,000 | JPMorgan Chase Bank NA - CACLN, Series 2021-3, Class F, | |
| 3.694%, 2/26/29 (144A) | 1,801,746 |
285,635(a) | M360 LLC, Series 2019-CRE2, Class A, 2.793% (1 Month | |
| Term SOFR + 151 bps), 9/15/34 (144A) | 284,885 |
4,850,000(a) | Madison Park Funding XXII, Ltd., Series 2016-22A, | |
| Class ER, 7.744% (3 Month USD LIBOR + | |
| 670 bps), 1/15/33 (144A) | 4,433,293 |
3,892,067 | Marlette Funding Trust, Series 2019-2A, Class C, 4.11%, | |
| 7/16/29 (144A) | 3,871,696 |
6,930,000 | Mercury Financial Credit Card Master Trust, Series 2021-1A, | |
| Class A, 1.54%, 3/20/26 (144A) | 6,594,759 |
9,635,000(a) | MF1, Ltd., Series 2021-FL7, Class D, 4.162% (1 Month USD | |
| LIBOR + 255 bps), 10/16/36 (144A) | 9,058,625 |
1,914,176 | Mosaic Solar Loan Trust, Series 2019-2A, Class A, 2.88%, | |
| 9/20/40 (144A) | 1,744,387 |
271,918 | Mosaic Solar Loan Trust, Series 2019-2A, Class C, 4.35%, | |
| 9/20/40 (144A) | 271,234 |
899,507 | Mosaic Solar Loan Trust, Series 2020-1A, Class A, 2.10%, | |
| 4/20/46 (144A) | 816,714 |
511,156 | MVW LLC, Series 2020-1A, Class C, 4.21%, 10/20/37 (144A) | 494,395 |
5,095,000 | Nelnet Student Loan Trust, Series 2021-A, Class B1, | |
| 2.85%, 4/20/62 (144A) | 4,413,512 |
2,850,000(a) | Newark BSL CLO 1, Ltd., Series 2016-1A, Class CR, 4.225% | |
| (3 Month USD LIBOR + 300 bps), 12/21/29 (144A) | 2,700,375 |
1,000,839(a) | Newtek Small Business Loan Trust, Series 2017-1, | |
| Class A, 3.624% (1 Month USD LIBOR + | |
| 200 bps), 2/25/43 (144A) | 995,444 |
651,454 | NMEF Funding LLC, Series 2019-A, Class B, 3.06%, | |
| 8/17/26 (144A) | 650,424 |
3,000,000 | NMEF Funding LLC, Series 2019-A, Class C, 3.30%, | |
| 8/17/26 (144A) | 2,958,158 |
3,000,000 | NMEF Funding LLC, Series 2019-A, Class D, 4.39%, | |
| 8/17/26 (144A) | 2,947,742 |
2,300,000 | NMEF Funding LLC, Series 2021-A, Class C, 2.58%, | |
| 12/15/27 (144A) | 2,136,110 |
4,315,000 | Oportun Funding XIV LLC, Series 2021-A, Class C, 3.44%, | |
| 3/8/28 (144A) | 4,063,919 |
2,498,050 | Orange Lake Timeshare Trust, Series 2019-A, Class D, | |
| 4.93%, 4/9/38 (144A) | 2,353,813 |
1,975,761 | Oxford Finance Funding LLC, Series 2019-1A, Class B, | |
| 5.438%, 2/15/27 (144A) | 1,955,601 |
4,000,000(a) | Palmer Square Loan Funding, Ltd., Series 2020-1A, | |
| Class B, 3.378% (3 Month USD LIBOR + | |
| 190 bps), 2/20/28 (144A) | 3,831,380 |
4,000,000(a) | Palmer Square Loan Funding, Ltd., Series 2020-1A, | |
| Class D, 6.328% (3 Month USD LIBOR + | |
| 485 bps), 2/20/28 (144A) | 3,774,656 |
The accompanying notes are an integral part of these financial statements.
24 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| ASSET BACKED SECURITIES — (continued) | |
3,000,000(a) | Palmer Square Loan Funding, Ltd., Series 2022-1A, | |
| Class C, 2.834% (3 Month Term SOFR + | |
| 260 bps), 4/15/30 (144A) | $ 2,847,345 |
5,500,000 | Perimeter Master Note Business Trust, Series 2019-2A, | |
| Class B, 5.21%, 5/15/24 (144A) | 5,395,656 |
5,000,000 | PG Receivables Finance, Series 2020-1, Class A1, | |
| 3.968%, 7/20/25 (144A) | 4,837,695 |
2,350,000 | PG Receivables Finance, Series 2020-1, Class B, | |
| 4.705%, 7/20/25 (144A) | 2,273,717 |
8,500,000(a) | Race Point VIII CLO, Ltd., Series 2013-8A, Class CR2, | |
| 3.528% (3 Month USD LIBOR + 205 bps), 2/20/30 (144A) | 8,038,909 |
4,000,000(a) | Race Point VIII CLO, Ltd., Series 2013-8A, Class DR2, | |
| 4.978% (3 Month USD LIBOR + 350 bps), 2/20/30 (144A) | 3,776,340 |
3,200,000(a) | Rad CLO 7, Ltd., Series 2020-7A, Class E, 7.544% (3 | |
| Month USD LIBOR + 650 bps), 4/17/33 (144A) | 2,869,066 |
9,010,000 | Republic Finance Issuance Trust, Series 2021-A, Class A, | |
| 2.30%, 12/22/31 (144A) | 8,363,991 |
2,300,000 | Republic Finance Issuance Trust, Series 2021-A, Class C, | |
| 3.53%, 12/22/31 (144A) | 2,096,711 |
3,842,522 | Santander Bank NA - SBCLN, Series 2021-1A, Class B, | |
| 1.833%, 12/15/31 (144A) | 3,734,374 |
914,886 | Santander Bank NA - SBCLN, Series 2021-1A, Class C, | |
| 3.268%, 12/15/31 (144A) | 889,304 |
1,925,000 | Santander Bank NA - SBCLN, Series 2021-1A, Class D, | |
| 5.004%, 12/15/31 (144A) | 1,797,124 |
4,600,000 | SCF Equipment Leasing LLC, Series 2019-2A, Class C, | |
| 3.11%, 6/21/27 (144A) | 4,398,366 |
5,000,000(a) | Signal Peak CLO 2 LLC, Series 2015-1A, Class DR2, 3.913% | |
| (3 Month USD LIBOR + 285 bps), 4/20/29 (144A) | 4,788,780 |
1,750,000(a) | Sound Point CLO XXV, Ltd., Series 2019-4A, Class ER, | |
| 8.199% (3 Month Term SOFR + 725 bps), 4/25/33 (144A) | 1,593,837 |
2,750,000(a) | Sound Point CLO XXVIII, Ltd., Series 2020-3A, Class D, | |
| 4.834% (3 Month USD LIBOR + 365 bps), 1/25/32 (144A) | 2,585,201 |
6,312,262 | SpringCastle America Funding LLC, Series 2020-AA, | |
| Class A, 1.97%, 9/25/37 (144A) | 5,862,787 |
10,345,000(a) | STWD, Ltd., Series 2022-FL3, Class B, 2.729% | |
| (SOFR30A + 195 bps), 11/15/38 (144A) | 9,833,691 |
444,993 | Tidewater Auto Receivables Trust, Series 2018-AA, | |
| Class D, 4.30%, 11/15/24 (144A) | 444,720 |
3,700,000 | Tricolor Auto Securitization Trust, Series 2021-1A, | |
| Class D, 1.92%, 5/15/26 (144A) | 3,584,602 |
8,605,870 | Tricon American Homes Trust, Series 2019-SFR1, Class A, | |
| 2.75%, 3/17/38 (144A) | 8,294,192 |
5,650,000 | Tricon American Homes Trust, Series 2020-SFR2, Class E1, | |
| 2.73%, 11/17/39 (144A) | 4,829,378 |
54,743 | United States Small Business Administration, Series | |
| 2005-20B, Class 1, 4.625%, 2/1/25 | 54,416 |
45,601 | United States Small Business Administration, Series | |
| 2005-20E, Class 1, 4.84%, 5/1/25 | 45,378 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 25
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| ASSET BACKED SECURITIES — (continued) | |
91,787 | United States Small Business Administration, Series | |
| 2008-20D, Class 1, 5.37%, 4/1/28 | $ 93,900 |
87,500 | United States Small Business Administration, Series | |
| 2008-20H, Class 1, 6.02%, 8/1/28 | 89,895 |
63,713 | United States Small Business Administration, Series | |
| 2008-20J, Class 1, 5.63%, 10/1/28 | 65,095 |
54,102 | United States Small Business Administration, Series | |
| 2008-20L, Class 1, 6.22%, 12/1/28 | 57,393 |
25,203 | United States Small Business Administration, Series | |
| 2009-20A, Class 1, 5.72%, 1/1/29 | 25,671 |
61,492 | United States Small Business Administration, Series | |
| 2009-20I, Class 1, 4.20%, 9/1/29 | 62,189 |
4,000,000 | Upstart Securitization Trust, Series 2020-1, Class C, | |
| 4.899%, 4/22/30 (144A) | 3,911,626 |
591,280 | Welk Resorts LLC, Series 2017-AA, Class B, 3.41%, | |
| 6/15/33 (144A) | 579,076 |
1,024,885 | Welk Resorts LLC, Series 2019-AA, Class C, 3.34%, | |
| 6/15/38 (144A) | 997,427 |
491,865 | Welk Resorts LLC, Series 2019-AA, Class D, 4.03%, | |
| 6/15/38 (144A) | 480,563 |
2,728,948 | Westgate Resorts LLC, Series 2020-1A, Class C, 6.213%, | |
| 3/20/34 (144A) | 2,731,475 |
11,821,673 | Westgate Resorts LLC, Series 2022-1A, Class C, 2.488%, | |
| 8/20/36 (144A) | 11,299,824 |
3,220,000 | Westlake Automobile Receivables Trust, Series 2020-2A, | |
| Class D, 2.76%, 1/15/26 (144A) | 3,172,542 |
1,800,000(a) | Whitebox CLO II, Ltd., Series 2020-2A, Class ER, 8.284% | |
| (3 Month USD LIBOR + 710 bps), 10/24/34 (144A) | 1,617,714 |
1,500,000(a) | Woodmont Trust, Series 2020-7A, Class A1A, 2.944% (3 | |
| Month USD LIBOR + 190 bps), 1/15/32 (144A) | 1,473,481 |
| TOTAL ASSET BACKED SECURITIES | |
| (Cost $400,180,489) | $ 376,712,228 |
| COLLATERALIZED MORTGAGE OBLIGATIONS — |
| 17.3% of Net Assets | |
4,930,071(b) | Bayview MSR Opportunity Master Fund Trust, | |
| Series 2021-5, Class B1, 3.492%, 11/25/51 (144A) | $ 4,200,455 |
4,382,412(b) | Bayview MSR Opportunity Master Fund Trust, | |
| Series 2022-5, Class B1, 3.472%, 2/25/52 (144A) | 3,454,659 |
4,720,669(b) | Bayview MSR Opportunity Master Fund Trust, | |
| Series 2022-5, Class B2, 3.472%, 2/25/52 (144A) | 3,693,568 |
1,987,549(a) | Bellemeade Re, Ltd., Series 2018-3A, Class M1B, 3.474% | |
| (1 Month USD LIBOR + 185 bps), 10/25/28 (144A) | 1,978,225 |
7,010,000(a) | Bellemeade Re, Ltd., Series 2018-3A, Class M2, 4.374% | |
| (1 Month USD LIBOR + 275 bps), 10/25/28 (144A) | 6,863,623 |
1,401,413(a) | Bellemeade Re, Ltd., Series 2019-1A, Class M1B, 3.374% | |
| (1 Month USD LIBOR + 175 bps), 3/25/29 (144A) | 1,396,848 |
3,725,000(a) | Bellemeade Re, Ltd., Series 2019-1A, Class M2, 4.324% (1 | |
| Month USD LIBOR + 270 bps), 3/25/29 (144A) | 3,663,450 |
The accompanying notes are an integral part of these financial statements.
26 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
5,660,000(a) | Bellemeade Re, Ltd., Series 2020-3A, Class M1C, 5.324% | |
| (1 Month USD LIBOR + 370 bps), 10/25/30 (144A) | $ 5,674,658 |
4,910,000(a) | Bellemeade Re, Ltd., Series 2020-3A, Class M2, 6.474% | |
| (1 Month USD LIBOR + 485 bps), 10/25/30 (144A) | 4,964,741 |
4,288,498(a) | Bellemeade Re, Ltd., Series 2020-4A, Class M2B, 5.224% | |
| (1 Month USD LIBOR + 360 bps), 6/25/30 (144A) | 4,269,196 |
9,810,000(a) | Bellemeade Re, Ltd., Series 2021-3A, Class M2, 4.076% | |
| (SOFR30A + 315 bps), 9/25/31 (144A) | 8,747,583 |
6,767,000(a) | Bellemeade Re, Ltd., Series 2022-1, Class M1C, 4.626% | |
| (SOFR30A + 370 bps), 1/26/32 (144A) | 6,465,676 |
12,559,000(b) | BINOM Securitization Trust, Series 2022-RPL1, Class M2, | |
| 3.00%, 2/25/61 (144A) | 11,380,085 |
3,573,319(b) | Brean Asset Backed Securities Trust, Series 2021-RM1, | |
| Class A, 1.40%, 10/25/63 (144A) | 3,136,589 |
2,985,000(b) | Bunker Hill Loan Depositary Trust, Series 2020-1, | |
| Class A3, 3.253%, 2/25/55 (144A) | 2,890,743 |
1,745,357(b) | Cascade Funding Mortgage Trust, Series 2018-RM2, | |
| Class A, 4.00%, 10/25/68 (144A) | 1,713,416 |
3,170,749(b) | Cascade Funding Mortgage Trust, Series 2018-RM2, | |
| Class C, 4.00%, 10/25/68 (144A) | 3,071,708 |
3,580,000(b) | Cascade Funding Mortgage Trust, Series 2021-HB6, | |
| Class M3, 3.735%, 6/25/36 (144A) | 3,283,538 |
3,773,000 | Cascade MH Asset Trust, Series 2021-MH1, Class M1, | |
| 2.992%, 2/25/46 (144A) | 3,080,126 |
1,906,000 | Cascade MH Asset Trust, Series 2021-MH1, Class M2, | |
| 3.693%, 2/25/46 (144A) | 1,571,653 |
3,485,000(b) | CFMT LLC, Series 2021-HB5, Class M3, 2.91%, | |
| 2/25/31 (144A) | 3,272,820 |
7,600,000(b) | CFMT LLC, Series 2021-HB7, Class M3, 3.849%, | |
| 10/27/31 (144A) | 7,133,028 |
5,170,000(b) | CIM Trust, Series 2020-R2, Class M3, 3.00%, | |
| 10/25/59 (144A) | 4,310,480 |
5,788,952(b) | CIM Trust, Series 2021-J1, Class B1, 2.659%, | |
| 3/25/51 (144A) | 4,725,708 |
6,629,944(b) | CIM Trust, Series 2021-J2, Class B1, 2.675%, | |
| 4/25/51 (144A) | 5,986,110 |
3,375,121(b) | CIM Trust, Series 2021-J2, Class B2, 2.675%, | |
| 4/25/51 (144A) | 2,885,667 |
2,604,350(b) | CIM Trust, Series 2022-R2, Class A1, 3.75%, | |
| 12/25/61 (144A) | 2,528,233 |
3,227,599(b) | Citigroup Mortgage Loan Trust, Series 2021-INV1, | |
| Class B1W, 2.706%, 5/25/51 (144A) | 2,643,099 |
332,847(a) | Connecticut Avenue Securities Trust, Series 2019-R03, | |
| Class 1M2, 3.774% (1 Month USD LIBOR + | |
| 215 bps), 9/25/31 (144A) | 332,241 |
11,545,000(a) | Connecticut Avenue Securities Trust, Series 2022-R02, | |
| Class 2M2, 3.926% (SOFR30A + | |
| 300 bps), 1/25/42 (144A) | 10,642,500 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 27
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
2,490,163(b) | CSMC Trust, Series 2021-RPL2, Class M1, 2.75%, | |
| 1/25/60 (144A) | $ 2,088,232 |
2,350,000(b) | CSMC Trust, Series 2021-RPL2, Class M2, 3.25%, | |
| 1/25/60 (144A) | 1,939,396 |
1,450,000(b) | Deephaven Residential Mortgage Trust, Series 2020-2, | |
| Class M1, 4.112%, 5/25/65 (144A) | 1,427,337 |
1,727,526(a) | Eagle Re, Ltd., Series 2018-1, Class M1, 3.324% (1 Month | |
| USD LIBOR + 170 bps), 11/25/28 (144A) | 1,720,630 |
6,126,937(a) | Eagle Re, Ltd., Series 2019-1, Class M1B, 3.424% (1 | |
| Month USD LIBOR + 180 bps), 4/25/29 (144A) | 6,073,180 |
3,410,950(a) | Eagle Re, Ltd., Series 2020-2, Class M2, 7.224% (1 Month | |
| USD LIBOR + 560 bps), 10/25/30 (144A) | 3,411,873 |
2,870,000(a) | Eagle Re, Ltd., Series 2021-2, Class M1C, 4.376% | |
| (SOFR30A + 345 bps), 4/25/34 (144A) | 2,700,027 |
1,450,000(a) | Fannie Mae Connecticut Avenue Securities, | |
| Series 2021-R02, Class 2B2, 7.126% (SOFR30A + | |
| 620 bps), 11/25/41 (144A) | 1,201,461 |
211,795(b) | Fannie Mae Grantor Trust, Series 2004-T2, Class 2A, | |
| 3.404%, 7/25/43 | 215,032 |
64,147 | Fannie Mae REMICS, Series 2009-36, Class HX, | |
| 4.50%, 6/25/29 | 64,533 |
2,716,065(c) | Fannie Mae REMICs, Series 2020-83, Class EI, | |
| 4.00%, 11/25/50 | 548,584 |
5,579,209(a)(c) | Federal Home Loan Mortgage Corp. REMICS, Series 4091, | |
| Class SH, 5.226% (1 Month USD LIBOR + | |
| 655 bps), 8/15/42 | 855,433 |
3,253,410(c) | Federal Home Loan Mortgage Corp. REMICs, Series 4999, | |
| Class QI, 4.00%, 5/25/50 | 641,665 |
6,237,871(c) | Federal Home Loan Mortgage Corp. REMICs, Series 5018, | |
| Class EI, 4.00%, 10/25/50 | 1,251,217 |
3,414,866(c) | Federal Home Loan Mortgage Corp. REMICs, Series 5067, | |
| Class GI, 4.00%, 12/25/50 | 699,926 |
4,079,107(b) | Flagstar Mortgage Trust, Series 2021-3INV, Class A16, | |
| 2.50%, 6/25/51 (144A) | 3,396,750 |
179,063,948(b)(c) | Flagstar Mortgage Trust, Series 2021-4, Class AX1, | |
| 0.211%, 6/1/51 (144A) | 1,827,169 |
6,940,000(a) | Freddie Mac Stacr Remic Trust, Series 2019-HRP1, | |
| Class M3, 3.874% (1 Month USD LIBOR + | |
| 225 bps), 2/25/49 (144A) | 6,538,818 |
7,739,672(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA3, | |
| Class B1, 6.724% (1 Month USD LIBOR + | |
| 510 bps), 6/25/50 (144A) | 7,884,281 |
8,960,000(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA4, | |
| Class B1, 7.624% (1 Month USD LIBOR + | |
| 600 bps), 8/25/50 (144A) | 9,330,698 |
186,125(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA4, | |
| Class M2, 5.374% (1 Month USD LIBOR + | |
| 375 bps), 8/25/50 (144A) | 185,946 |
The accompanying notes are an integral part of these financial statements.
28 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
4,835,000(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA5, | |
| Class B1, 5.726% (SOFR30A + | |
| 480 bps), 10/25/50 (144A) | $ 4,887,790 |
3,457,711(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA5, | |
| Class M2, 3.726% (SOFR30A + | |
| 280 bps), 10/25/50 (144A) | 3,463,081 |
3,400,000(a) | Freddie Mac Stacr Remic Trust, Series 2020-DNA6, | |
| Class B2, 6.576% (SOFR30A + | |
| 565 bps), 12/25/50 (144A) | 2,881,834 |
4,290,000(a) | Freddie Mac Stacr Remic Trust, Series 2020-HQA4, | |
| Class B1, 6.874% (1 Month USD LIBOR + | |
| 525 bps), 9/25/50 (144A) | 4,279,490 |
980,000(a) | Freddie Mac Stacr Remic Trust, Series 2021-DNA1, | |
| Class B1, 3.576% (SOFR30A + | |
| 265 bps), 1/25/51 (144A) | 791,315 |
7,470,000(a) | Freddie Mac Stacr Remic Trust, Series 2021-DNA1, | |
| Class B2, 5.676% (SOFR30A + | |
| 475 bps), 1/25/51 (144A) | 5,789,495 |
1,130,000(a) | Freddie Mac Stacr Remic Trust, Series 2021-DNA5, | |
| Class B1, 3.976% (SOFR30A + | |
| 305 bps), 1/25/34 (144A) | 969,850 |
4,150,000(a) | Freddie Mac Stacr Remic Trust, Series 2021-HQA1, | |
| Class B2, 5.926% (SOFR30A + | |
| 500 bps), 8/25/33 (144A) | 3,184,432 |
11,170,000(a) | Freddie Mac Stacr Remic Trust, Series 2021-HQA4, | |
| Class B1, 4.676% (SOFR30A + | |
| 375 bps), 12/25/41 (144A) | 9,220,514 |
4,185,000(a) | Freddie Mac Stacr Remic Trust, Series 2022-DNA1, | |
| Class B1, 4.326% (SOFR30A + | |
| 340 bps), 1/25/42 (144A) | 3,526,550 |
5,590,000(a) | Freddie Mac Stacr Remic Trust, Series 2022-DNA3, | |
| Class M1B, 3.826% (SOFR30A + | |
| 290 bps), 4/25/42 (144A) | 5,254,753 |
1,559,061(a) | Freddie Mac Stacr Remic Trust, Series 2022-HQA1, | |
| Class M1B, 4.426% (SOFR30A + | |
| 350 bps), 3/25/42 (144A) | 1,488,801 |
5,000,000(a) | Freddie Mac Structured Agency Credit Risk Debt Notes, | |
| Series 2020-HQA5, Class B2, 8.326% (SOFR30A + | |
| 740 bps), 11/25/50 (144A) | 4,740,563 |
2,540,000(a) | Freddie Mac Structured Agency Credit Risk Debt Notes, | |
| Series 2021-DNA2, Class B2, 6.926% (SOFR30A + | |
| 600 bps), 8/25/33 (144A) | 2,137,021 |
4,320,000(a) | Freddie Mac Structured Agency Credit Risk Debt Notes, | |
| Series 2021-DNA7, Class B1, 4.576% (SOFR30A + | |
| 365 bps), 11/25/41 (144A) | 3,695,315 |
16,520,000(a) | Freddie Mac Structured Agency Credit Risk Debt Notes, | |
| Series 2022-DNA2, Class M2, 4.676% (SOFR30A + | |
| 375 bps), 2/25/42 (144A) | 14,831,387 |
1,736,423(b) | FWD Securitization Trust, Series 2019-INV1, Class A1, | |
| 2.81%, 6/25/49 (144A) | 1,697,423 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 29
Schedule of Investments | 6/30/22 (continued)
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
174,221 | Government National Mortgage Association, | |
| Series 2005-61, Class UZ, 5.25%, 8/16/35 | $ 175,587 |
60,947 | Government National Mortgage Association, | |
| Series 2012-130, Class PA, 3.00%, 4/20/41 | 60,835 |
375,626 | Government National Mortgage Association, | |
| Series 2013-169, Class TE, 3.25%, 4/16/27 | 374,302 |
15,958,904(c) | Government National Mortgage Association, | |
| Series 2019-159, Class CI, 3.50%, 12/20/49 | 2,792,724 |
13,811,109(a)(c) | Government National Mortgage Association, | |
| Series 2020-9, Class SA, 1.755% (1 Month USD LIBOR + |
| 335 bps), 1/20/50 | 626,897 |
6,071,000(b) | GS Mortgage-Backed Securities Corp. Trust, | |
| Series 2021-RPL1, Class B1, 2.75%, 12/25/60 (144A) | 5,082,084 |
4,820,000(b) | GS Mortgage-Backed Securities Corp. Trust, | |
| Series 2022-PJ4, Class A33, 3.00%, 9/25/52 (144A) | 3,713,667 |
9,132,767(b) | GS Mortgage-Backed Securities Corp. Trust, | |
| Series 2022-PJ4, Class A34, 2.50%, 9/25/52 (144A) | 7,648,336 |
193,064(b) | GS Mortgage-Backed Securities Trust, | |
| Series 2020-NQM1, Class A3, 2.352%, 9/27/60 (144A) | 185,525 |
2,124,761(b) | GS Mortgage-Backed Securities Trust, Series 2021-GR3, | |
| Class B2, 3.393%, 4/25/52 (144A) | 1,749,325 |
3,019,162(b) | GS Mortgage-Backed Securities Trust, Series 2021-PJ9, | |
| Class B3, 2.936%, 2/26/52 (144A) | 2,345,110 |
7,422,971(b) | GS Mortgage-Backed Securities Trust, Series 2022-MM1, | |
| Class A4, 2.50%, 7/25/52 (144A) | 6,219,670 |
9,968,103(b) | GS Mortgage-Backed Securities Trust, Series 2022-PJ1, | |
| Class A4, 2.50%, 5/28/52 (144A) | 8,334,480 |
247,634(a) | Home Re, Ltd., Series 2018-1, Class M1, 3.224% (1 Month | |
| USD LIBOR + 160 bps), 10/25/28 (144A) | 247,201 |
1,782,124(a) | Home Re, Ltd., Series 2019-1, Class M1, 3.274% (1 Month | |
| USD LIBOR + 165 bps), 5/25/29 (144A) | 1,777,612 |
4,640,000(a) | Home Re, Ltd., Series 2020-1, Class M1C, 5.774% (1 Month | |
| USD LIBOR + 415 bps), 10/25/30 (144A) | 4,652,369 |
4,580,000(a) | Home Re, Ltd., Series 2020-1, Class M2, 6.874% (1 Month | |
| USD LIBOR + 525 bps), 10/25/30 (144A) | 4,636,082 |
6,400,000(a) | Home Re, Ltd., Series 2021-1, Class M2, 4.474% (1 Month | |
| USD LIBOR + 285 bps), 7/25/33 (144A) | 5,777,075 |
3,990,000(b) | Homeward Opportunities Fund I Trust, Series 2020-2, | |
| Class A3, 3.196%, 5/25/65 (144A) | 3,876,222 |
2,185,000(b) | Homeward Opportunities Fund I Trust, Series 2020-2, | |
| Class M1, 3.897%, 5/25/65 (144A) | 2,124,570 |
62,985,015(b)(c) | Hundred Acre Wood Trust, Series 2021-INV1, Class AX1, | |
| 0.227%, 7/25/51 (144A) | 695,210 |
4,694,134(b) | Hundred Acre Wood Trust, Series 2021-INV1, Class B1, | |
| 3.227%, 7/25/51 (144A) | 3,906,780 |
12,734,992(b) | Hundred Acre Wood Trust, Series 2021-INV3, Class A3, | |
| 2.50%, 10/25/51 (144A) | 10,904,833 |
The accompanying notes are an integral part of these financial statements.
30 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
1,800,000(b) | Imperial Fund Mortgage Trust, Series 2021-NQM2, | |
| Class B1, 3.295%, 9/25/56 (144A) | $ 1,374,895 |
2,065,000(b) | Imperial Fund Mortgage Trust, Series 2021-NQM2, | |
| Class M1, 2.489%, 9/25/56 (144A) | 1,615,749 |
13,905,000 | IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, | |
| 3.40%, 8/18/43 (144A) | 13,209,750 |
117,637,531(b)(c) | JP Morgan Mortgage Trust, Series 2021-10, Class AX1, | |
| 0.125%, 12/25/51 (144A) | 668,193 |
9,912,759(b) | JP Morgan Mortgage Trust, Series 2021-10, Class B1, | |
| 2.812%, 12/25/51 (144A) | 8,043,904 |
3,832,250(b) | JP Morgan Mortgage Trust, Series 2021-11, Class B1, | |
| 3.031%, 1/25/52 (144A) | 3,157,974 |
4,199,459(b) | JP Morgan Mortgage Trust, Series 2021-12, Class B1, | |
| 3.171%, 2/25/52 (144A) | 3,539,286 |
4,008,691(b) | JP Morgan Mortgage Trust, Series 2021-13, Class B1, | |
| 3.145%, 4/25/52 (144A) | 3,362,571 |
9,885,603(b) | JP Morgan Mortgage Trust, Series 2021-14, Class B1, | |
| 3.163%, 5/25/52 (144A) | 8,300,942 |
3,543,151(b) | JP Morgan Mortgage Trust, Series 2021-15, Class B1, | |
| 3.124%, 6/25/52 (144A) | 2,962,479 |
5,012,268(b) | JP Morgan Mortgage Trust, Series 2021-7, Class B2, | |
| 2.804%, 11/25/51 (144A) | 3,843,446 |
102,604,000(b)(c) | JP Morgan Mortgage Trust, Series 2021-8, Class AX1, | |
| 0.126%, 12/25/51 (144A) | 582,780 |
703,481(b) | JP Morgan Mortgage Trust, Series 2021-8, Class B1, | |
| 2.851%, 12/25/51 (144A) | 573,388 |
9,199,964(b) | JP Morgan Mortgage Trust, Series 2021-8, Class B2, | |
| 2.851%, 12/25/51 (144A) | 7,064,457 |
6,114,038(b) | JP Morgan Mortgage Trust, Series 2021-INV1, Class B1, | |
| 2.991%, 10/25/51 (144A) | 4,990,302 |
4,698,103(b) | JP Morgan Mortgage Trust, Series 2021-INV4, Class B2, | |
| 3.232%, 1/25/52 (144A) | 3,670,112 |
4,979,773(b) | JP Morgan Mortgage Trust, Series 2021-INV4, Class B3, | |
| 3.232%, 1/25/52 (144A) | 3,833,056 |
921,751(b) | JP Morgan Mortgage Trust, Series 2021-INV6, Class A5A, | |
| 2.50%, 4/25/52 (144A) | 779,695 |
4,010,391(b) | JP Morgan Mortgage Trust, Series 2022-2, Class B1, | |
| 3.136%, 8/25/52 (144A) | 3,310,875 |
7,186,052(b) | JP Morgan Mortgage Trust, Series 2022-3, Class B2, | |
| 3.12%, 8/25/52 (144A) | 5,802,547 |
6,420,000(b) | JP Morgan Mortgage Trust, Series 2022-4, Class A5, | |
| 3.00%, 10/25/52 (144A) | 4,901,389 |
11,761,410(b) | JP Morgan Mortgage Trust, Series 2022-5, Class A9A, | |
| 2.50%, 9/25/52 (144A) | 9,853,838 |
3,633,016(b) | JP Morgan Mortgage Trust, Series 2022-6, Class B2, | |
| 3.308%, 11/25/52 (144A) | 2,777,360 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 31
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
8,619,978(b) | JP Morgan Mortgage Trust, Series 2022-INV1, Class A15, | |
| 3.00%, 3/25/52 (144A) | $ 7,496,350 |
6,079,103(b) | JP Morgan Mortgage Trust, Series 2022-INV1, Class B2, | |
| 3.301%, 3/25/52 (144A) | 4,736,552 |
7,114,000(b) | JP Morgan Mortgage Trust, Series 2022-LTV1, Class M1, | |
| 3.528%, 7/25/52 (144A) | 5,503,213 |
3,375,682(b) | JP Mortgage Trust, Series 2021-INV1, Class B2, 2.991%, | |
| 10/25/51 (144A) | 2,610,189 |
1,332,228 | La Hipotecaria El Salvadorian Mortgage Trust, Series | |
| 2016-1A, Class A, 3.358%, 1/15/46 (144A) | 1,285,600 |
473,775(a) | La Hipotecaria Panamanian Mortgage Trust, Series | |
| 2010-1GA, Class A, 2.75% (Panamanian Mortgage | |
| Reference Rate - 300 bps), 9/8/39 (144A) | 463,707 |
2,017,469(a) | La Hipotecaria Panamanian Mortgage Trust, Series | |
| 2014-1A, Class A1, 3.508% (Panamanian Mortgage |
| Reference Rate + -224 bps), 11/24/42 (144A) | 1,977,119 |
7,964,088 | La Hipotecaria Panamanian Mortgage Trust, Series | |
| 2021-1, Class GA, 4.35%, 7/13/52 (144A) | 7,565,883 |
5,514,932(a) | LSTAR Securities Investment, Ltd., Series 2019-3, | |
| Class A1, 4.562% (1 Month USD LIBOR + | |
| 350 bps), 4/1/24 (144A) | 5,494,415 |
10,864,718(b) | Mello Mortgage Capital Acceptance, Series 2021-INV2, | |
| Class A15, 2.50%, 8/25/51 (144A) | 9,075,071 |
4,280,133(b) | Mello Mortgage Capital Acceptance, Series 2021-MTG1, | |
| Class B1, 2.651%, 4/25/51 (144A) | 3,330,724 |
4,092,901(b) | Mello Mortgage Capital Acceptance, Series 2021-MTG1, | |
| Class B2, 2.651%, 4/25/51 (144A) | 3,026,295 |
4,734,596(b) | Mello Mortgage Capital Acceptance, Series 2021-MTG2, | |
| Class B1, 2.678%, 6/25/51 (144A) | 3,827,900 |
4,891,286(b) | Mello Mortgage Capital Acceptance, Series 2022-INV1, | |
| Class B1, 3.331%, 3/25/52 (144A) | 4,050,887 |
7,184,873(b) | Mello Mortgage Capital Acceptance, Series 2022-INV2, | |
| Class B1, 3.538%, 4/25/52 (144A) | 6,110,100 |
179,522(b) | MFA Trust, Series 2020-NQM1, Class A3, 2.30%, 8/25/49 | |
| (144A) | 174,078 |
3,194,982(b) | Mill City Mortgage Loan Trust, Series 2017-3, Class B2, | |
| 3.25%, 1/25/61 (144A) | 2,838,988 |
7,800,000(b) | Mill City Mortgage Loan Trust, Series 2019-GS1, | |
| Class M3, 3.25%, 7/25/59 (144A) | 6,736,396 |
8,901,035(b) | Morgan Stanley Residential Mortgage Loan Trust, Series | |
| 2021-1, Class B1, 2.952%, 3/25/51 (144A) | 7,133,717 |
10,950,000(b) | New Residential Mortgage Loan Trust, Series 2019-RPL2, | |
| Class M2, 3.75%, 2/25/59 (144A) | 10,112,613 |
4,175,000 | NYMT Loan Trust, Series 2022-CP1, Class M1, 3.214%, | |
| 7/25/61 (144A) | 3,742,999 |
2,096,165(a) | Oaktown Re V, Ltd., Series 2020-2A, Class M1B, 5.224% (1 | |
| Month USD LIBOR + 360 bps), 10/25/30 (144A) | 2,092,058 |
The accompanying notes are an integral part of these financial statements.
32 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
3,550,000(a) | Oaktown Re V, Ltd., Series 2020-2A, Class M2, 6.874% | |
| (1 Month USD LIBOR + 525 bps), 10/25/30 (144A) | $ 3,609,679 |
4,744,735(b) | Oceanview Mortgage Trust, Series 2021-1, Class B1, | |
| 3.244%, 6/25/51 (144A) | 4,003,445 |
8,699,495(b) | Oceanview Mortgage Trust, Series 2021-1, Class B2, | |
| 3.244%, 6/25/51 (144A) | 7,026,826 |
2,873,985(b) | Oceanview Mortgage Trust, Series 2021-5, Class B2, | |
| 2.978%, 10/25/51 (144A) | 2,330,686 |
4,680,615(b) | Onslow Bay Mortgage Loan Trust, Series 2022-INV4, | |
| Class A2, 3.00%, 6/25/52 (144A) | 4,158,066 |
6,764,470(b) | PRMI Securitization Trust, Series 2021-1, Class B1, | |
| 2.479%, 4/25/51 (144A) | 5,205,197 |
2,772,753(b) | PRMI Securitization Trust, Series 2021-1, Class B2, | |
| 2.479%, 4/25/51 (144A) | 2,030,426 |
6,383,717(b) | Provident Funding Mortgage Trust, Series 2021-1, | |
| Class A5, 2.50%, 4/25/51 (144A) | 5,335,351 |
3,473,923(b) | Provident Funding Mortgage Trust, Series 2021-1, | |
| Class B1, 2.385%, 4/25/51 (144A) | 2,801,372 |
3,500,365(b) | Provident Funding Mortgage Trust, Series 2021-2, | |
| Class B1, 2.356%, 4/25/51 (144A) | 2,648,360 |
2,933,190(b) | Provident Funding Mortgage Trust, Series 2021-J1, | |
| Class B1, 2.638%, 10/25/51 (144A) | 2,408,865 |
3,023,201(b) | Provident Funding Mortgage Trust, Series 2021-J1, | |
| Class B2, 2.638%, 10/25/51 (144A) | 2,382,867 |
195,671(a) | Radnor Re, Ltd., Series 2018-1, Class M1, 3.024% | |
| (1 Month USD LIBOR + 140 bps), 3/25/28 (144A) | 195,666 |
6,538,531(a) | Radnor Re, Ltd., Series 2019-1, Class M1B, 3.574% | |
| (1 Month USD LIBOR + 195 bps), 2/25/29 (144A) | 6,514,901 |
3,437,000(a) | Radnor Re, Ltd., Series 2019-1, Class M2, 4.824% | |
| (1 Month USD LIBOR + 320 bps), 2/25/29 (144A) | 3,328,419 |
11,015,000(a) | Radnor Re, Ltd., Series 2020-1, Class M1C, 3.374% | |
| (1 Month USD LIBOR + 175 bps), 1/25/30 (144A) | 10,456,530 |
2,774,516(b) | Rate Mortgage Trust, Series 2021-HB1, Class B1, 2.708%, | |
| 12/25/51 (144A) | 2,231,455 |
4,154,377(b) | Rate Mortgage Trust, Series 2021-HB1, Class B2, 2.708%, | |
| 12/25/51 (144A) | 3,191,914 |
4,093,732(b) | Rate Mortgage Trust, Series 2021-J3, Class B2, 2.712%, | |
| 10/25/51 (144A) | 3,207,477 |
4,087,282(b) | Rate Mortgage Trust, Series 2021-J4, Class B3, 2.632%, | |
| 11/25/51 (144A) | 3,136,752 |
5,228,174(b) | RCKT Mortgage Trust, Series 2021-1, Class B2A, 2.722%, | |
| 3/25/51 (144A) | 4,345,686 |
5,475,092(b) | RCKT Mortgage Trust, Series 2021-2, Class B1A, 2.565%, | |
| 6/25/51 (144A) | 4,400,968 |
3,897,523(b) | RCKT Mortgage Trust, Series 2021-2, Class B2A, 2.565%, | |
| 6/25/51 (144A) | 2,998,864 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 33
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
3,612,578(b) | RCKT Mortgage Trust, Series 2021-3, Class A25, 2.50%, | |
| 7/25/51 (144A) | $ 3,028,514 |
14,707,805(b) | RCKT Mortgage Trust, Series 2021-4, Class B1A, 3.012%, | |
| 9/25/51 (144A) | 12,138,430 |
12,685,000(b) | RCKT Mortgage Trust, Series 2022-3, Class A17, 3.00%, | |
| 5/25/52 (144A) | 9,738,834 |
5,592,283(b) | RCKT Mortgage Trust, Series 2022-3, Class B1A, 3.194%, | |
| 5/25/52 (144A) | 4,666,113 |
2,315,703(b) | RCKT Mortgage Trust, Series 2022-4, Class A21, 4.00%, | |
| 6/25/52 (144A) | 2,149,533 |
3,000,000(b) | RMF Buyout Issuance Trust, Series 2021-HB1, Class M3, | |
| 3.69%, 11/25/31 (144A) | 2,742,396 |
3,350,000(b) | RMF Buyout Issuance Trust, Series 2022-HB1, Class M3, | |
| 4.50%, 4/25/32 (144A) | 3,052,555 |
5,264,896(b) | RMF Proprietary Issuance Trust, Series 2021-2, Class A, | |
| 2.125%, 9/25/61 (144A) | 4,681,043 |
18,411,558(b) | Saluda Grade Alternative Mortgage Trust, Series | |
| 2021-FIG2, Class A2, 3.50%, 10/25/51 (144A) | 17,375,908 |
8,325,000(b) | Saluda Grade Alternative Mortgage Trust, Series | |
| 2022-SEQ2, Class A3, 4.50%, 2/25/52 (144A) | 8,005,387 |
571,446(b) | Sequoia Mortgage Trust, Series 2012-6, Class B3, | |
| 3.702%, 12/25/42 | 564,797 |
134,846(b) | Sequoia Mortgage Trust, Series 2018-CH3, Class A1, | |
| 4.50%, 8/25/48 (144A) | 134,012 |
2,905,612(b) | Sequoia Mortgage Trust, Series 2021-1, Class B2, 2.663%, | |
| 3/25/51 (144A) | 2,183,355 |
1,422,380(b) | Sequoia Mortgage Trust, Series 2021-4, Class A1, 2.50%, | |
| 6/25/51 (144A) | 1,217,968 |
4,725,000(b) | Sequoia Mortgage Trust, Series 2022-1, Class A7, 2.50%, | |
| 2/25/52 (144A) | 3,493,332 |
11,220,000(a) | STACR Trust, Series 2018-HRP2, Class B1, 5.824% | |
| (1 Month USD LIBOR + 420 bps), 2/25/47 (144A) | 10,956,990 |
3,135,000(a) | STACR Trust, Series 2018-HRP2, Class M3, 4.024% | |
| (1 Month USD LIBOR + 240 bps), 2/25/47 (144A) | 3,082,248 |
10,000,000(b) | Towd Point Mortgage Trust, Series 2019-3, Class M2D, | |
| 3.25%, 2/25/59 (144A) | 9,127,742 |
10,300,000(b) | Towd Point Mortgage Trust, Series 2019-4, Class M2B, | |
| 3.25%, 10/25/59 (144A) | 8,594,465 |
2,000,000(a) | Towd Point Mortgage Trust, Series 2019-HY2, Class B1, | |
| 3.874% (1 Month USD LIBOR + 225 bps), | |
| 5/25/58 (144A) | 1,900,466 |
7,500,000(b) | Towd Point Mortgage Trust, Series 2021-1, Class M1, | |
| 3.25%, 11/25/61 (144A) | 6,464,021 |
12,210,606(b) | Towd Point Mortgage Trust, Series 2021-R1, Class A1, | |
| 2.918%, 11/30/60 (144A) | 11,124,131 |
2,150,284(a) | Traingle Re, Ltd., Series 2020-1, Class M1C, 6.124% | |
| (1 Month USD LIBOR + 450 bps), 10/25/30 (144A) | 2,154,259 |
3,080,000(a) | Traingle Re, Ltd., Series 2020-1, Class M2, 7.224% | |
| (1 Month USD LIBOR + 560 bps), 10/25/30 (144A) | 3,126,700 |
The accompanying notes are an integral part of these financial statements.
34 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COLLATERALIZED MORTGAGE | |
| OBLIGATIONS — (continued) | |
11,159,961(a) | Traingle Re, Ltd., Series 2021-1, Class M1C, 5.024% | |
| (1 Month USD LIBOR + 340 bps), 8/25/33 (144A) | $ 11,150,803 |
3,992,886(b) | UWM Mortgage Trust, Series 2021-INV4, Class B1, 3.232%, | |
| 12/25/51 (144A) | 3,277,971 |
8,025,306(b) | UWM Mortgage Trust, Series 2021-INV4, Class B2, 3.232%, | |
| 12/25/51 (144A) | 6,477,187 |
5,076,086(b) | UWM Mortgage Trust, Series 2021-INV5, Class B1, 3.245%, | |
| 1/25/52 (144A) | 4,193,881 |
870,000(b) | Verus Securitization Trust, Series 2020-INV1, Class M1, | |
| 5.50%, 3/25/60 (144A) | 857,269 |
2,810,000(b) | Wells Fargo Mortgage Backed Securities Trust, Series | |
| 2022-2, Class A5, 3.00%, 12/25/51 (144A) | 2,161,668 |
11,105,000(b) | Wells Fargo Mortgage Backed Securities Trust, Series | |
| 2022-2, Class A6, 2.50%, 12/25/51 (144A) | 7,964,679 |
8,932,838(b) | Wells Fargo Mortgage Backed Securities Trust, Series | |
| 2022-INV1, Class B2, 3.446%, 3/25/52 (144A) | 6,914,203 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS |
| (Cost $891,645,434) | $ 794,963,198 |
| COMMERCIAL MORTGAGE-BACKED SECURITIES — | |
| 8.3% of Net Assets | |
4,360,000(a) | AREIT Trust, Series 2022-CRE6, Class D, 3.621% | |
| (SOFR30A + 285 bps), 1/16/37 (144A) | $ 4,088,132 |
10,645,000(a) | Austin Fairmont Hotel Trust, Series 2019-FAIR, | |
| Class A, 2.374% (1 Month USD LIBOR + 105 bps), | |
| 9/15/32 (144A) | 10,390,562 |
7,460,000 | BANK, Series 2017-BNK5, Class AS, 3.624%, 6/15/60 | 7,057,726 |
9,500,000 | BANK, Series 2017-BNK7, Class AS, 3.748%, 9/15/60 | 9,022,664 |
2,590,196(c)(d) | Bayview Commercial Asset Trust, Series 2007-2A, | |
| Class IO, 0.000%, 7/25/37 (144A) | — |
6,200,000(a) | Beast Mortgage Trust, Series 2021-1818, Class A, 2.374% | |
| (1 Month USD LIBOR + 105 bps), 3/15/36 (144A) | 5,986,442 |
3,855,000 | Benchmark Mortgage Trust, Series 2018-B5, Class A3, | |
| 3.944%, 7/15/51 | 3,757,498 |
7,340,000 | Benchmark Mortgage Trust, Series 2018-B8, Class A4, | |
| 3.963%, 1/15/52 | 7,188,805 |
2,615,000(b) | Benchmark Mortgage Trust, Series 2020-IG3, Class B, | |
| 3.389%, 9/15/48 (144A) | 2,256,524 |
3,030,000(b) | Benchmark Mortgage Trust, Series 2022-B34, Class AM, | |
| 3.961%, 4/15/55 | 2,837,913 |
1,375,000(a) | BSREP Commercial Mortgage Trust, Series 2021-DC, | |
| Class B, 2.675% (1 Month USD LIBOR + | |
| 135 bps), 8/15/38 (144A) | 1,316,290 |
3,200,000(b) | BX Commercial Mortgage Trust, Series 2020-VIV3, | |
| Class B, 3.662%, 3/9/44 (144A) | 2,815,277 |
7,615,000(b) | BX Commercial Mortgage Trust, Series 2021-VIV5, | |
| Class A, 2.843%, 3/9/44 (144A) | 6,600,680 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 35
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COMMERCIAL MORTGAGE-BACKED | |
| SECURITIES — (continued) | |
6,105,000(a) | BX Commercial Mortgage Trust, Series 2021-VOLT, | |
| Class F, 3.724% (1 Month USD LIBOR + 240 bps), | |
| 9/15/36 (144A) | $ 5,679,773 |
17,400,000 | BX Trust, Series 2019-OC11, Class A, 3.202%, | |
| 12/9/41 (144A) | 15,576,734 |
27,850,000(a) | BX Trust, Series 2021-ARIA, Class D, 3.219% (1 Month | |
| USD LIBOR + 190 bps), 10/15/36 (144A) | 25,927,066 |
2,385,000(b) | CCUBS Commercial Mortgage Trust, Series 2017-C1, | |
| Class AS, 3.907%, 11/15/50 | 2,240,986 |
3,573,351 | CFCRE Commercial Mortgage Trust, Series 2016-C3, | �� |
| Class A2, 3.597%, 1/10/48 | 3,490,060 |
3,845,959(a) | CHC Commercial Mortgage Trust, Series 2019-CHC, | |
| Class D, 3.374% (1 Month USD LIBOR + 205 bps), | |
| 6/15/34 (144A) | 3,682,916 |
6,000,000(b) | Citigroup Commercial Mortgage Trust, Series 2014-GC25, | |
| Class B, 4.345%, 10/10/47 | 5,895,191 |
5,552,000(b) | Citigroup Commercial Mortgage Trust, Series 2015-GC33, | |
| Class B, 4.727%, 9/10/58 | 5,386,680 |
966,000 | Citigroup Commercial Mortgage Trust, Series 2016-P5, | |
| Class D, 3.00%, 10/10/49 (144A) | 768,965 |
3,670,000 | Citigroup Commercial Mortgage Trust, Series 2017-C4, | |
| Class A4, 3.471%, 10/12/50 | 3,505,870 |
3,000,000(b) | Citigroup Commercial Mortgage Trust, Series 2018-B2, | |
| Class AS, 4.179%, 3/10/51 | 2,924,160 |
6,514,725 | Citigroup Commercial Mortgage Trust, Series 2018-C5, | |
| Class A3, 3.963%, 6/10/51 | 6,346,373 |
3,607,575(a) | Cold Storage Trust, Series 2020-ICE5, Class D, 3.424% | |
| (1 Month USD LIBOR + 210 bps), 11/15/37 (144A) | 3,498,828 |
1,426,486 | COMM Mortgage Trust, Series 2012-CR3, Class A3, | |
| 2.822%, 10/15/45 | 1,424,630 |
5,781,590 | COMM Mortgage Trust, Series 2014-UBS3, Class A3, | |
| 3.546%, 6/10/47 | 5,664,035 |
3,765,000 | COMM Mortgage Trust, Series 2014-UBS4, Class A4, | |
| 3.42%, 8/10/47 | 3,703,672 |
5,283,494 | COMM Mortgage Trust, Series 2015-CR26, Class A3, | |
| 3.359%, 10/10/48 | 5,168,251 |
4,130,000(b) | COMM Mortgage Trust, Series 2015-DC1, Class B, | |
| 4.035%, 2/10/48 | 3,988,468 |
1,375,000(b) | COMM Mortgage Trust, Series 2018-COR3, Class B, | |
| 4.664%, 5/10/51 | 1,312,122 |
8,375,000(a) | Credit Suisse Mortgage Capital Certificates, Series | |
2019-ICE4, Class E, 3.474% (1 Month USD LIBOR + |
| 215 bps), 5/15/36 (144A) | 8,037,583 |
924,328(a) | Freddie Mac Multifamily Structured Credit Risk, Series | |
| 2021-MN1, Class M1, 2.926% (SOFR30A + | |
| 200 bps), 1/25/51 (144A) | 859,795 |
The accompanying notes are an integral part of these financial statements.
36 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COMMERCIAL MORTGAGE-BACKED | |
| SECURITIES — (continued) | |
6,790,000(a) | Freddie Mac Multifamily Structured Credit Risk, Series | |
| 2021-MN3, Class M2, 4.926% (SOFR30A + | |
| 400 bps), 11/25/51 (144A) | $ 5,858,253 |
2,500,000(b) | FREMF Mortgage Trust, Series 2017-KW03, Class B, | |
| 4.203%, 7/25/27 (144A) | 2,391,608 |
5,384,768(a) | FREMF Mortgage Trust, Series 2018-KSW4, Class B, | |
| 3.57% (1 Month USD LIBOR + 245 bps), 10/25/28 | 5,136,379 |
2,896,010(a) | FREMF Mortgage Trust, Series 2018-KSW4, Class C, | |
| 6.12% (1 Month USD LIBOR + 500 bps), 10/25/28 | 2,694,633 |
4,590,000(b) | FREMF Mortgage Trust, Series 2019-K88, Class C, | |
| 4.528%, 2/25/52 (144A) | 4,371,811 |
4,106,918(a) | FREMF Mortgage Trust, Series 2019-KF64, Class B, 3.42% | |
| (1 Month USD LIBOR + 230 bps), 6/25/26 (144A) | 4,047,027 |
10,216,733(a) | FREMF Mortgage Trust, Series 2019-KF66, Class B, 3.52% | |
| (1 Month USD LIBOR + 240 bps), 7/25/29 (144A) | 9,990,449 |
3,077,478(b) | FREMF Mortgage Trust, Series 2019-KJ24, Class B, 7.60%, | |
| 10/25/27 (144A) | 2,897,106 |
5,000,000(a) | FREMF Mortgage Trust, Series 2019-KS12, Class C, 8.02% | |
| (1 Month USD LIBOR + 690 bps), 8/25/29 | 4,446,402 |
9,000,000(e) | FREMF Mortgage Trust, Series 2021-KG05, Class C, 0.000%, | |
| 1/25/31 (144A) | 4,410,559 |
110,999,571 | FREMF Mortgage Trust, Series 2021-KG05, Class X2A, | |
| 0.10%, 1/25/31 (144A) | 711,407 |
9,000,000 | FREMF Mortgage Trust, Series 2021-KG05, Class X2B, | |
| 0.10%, 1/25/31 (144A) | 51,827 |
3,395,999(b) | FRESB Mortgage Trust, Series 2018-SB52, Class A7F, | |
| 3.39%, 6/25/25 | 3,368,556 |
17,102,581(b)(c) | Government National Mortgage Association, Series | |
| 2017-21, Class IO, 0.652%, 10/16/58 | 683,002 |
3,900,000(a) | GS Mortgage Securities Corportation Trust, Series | |
| 2021-IP, Class D, 3.424% (1 Month USD LIBOR + | |
| 210 bps), 10/15/36 (144A) | 3,636,956 |
5,965,000 | GS Mortgage Securities Trust, Series 2015-GC28, | |
| Class A5, 3.396%, 2/10/48 | 5,862,096 |
8,216,000 | ILPT Trust, Series 2019-SURF, Class A, 4.145%, | |
| 2/11/41 (144A) | 7,934,686 |
5,685,000 | JP Morgan Chase Commercial Mortgage Securities | |
| Trust, Series 2016-JP3, Class AS, 3.144%, 8/15/49 | 5,359,649 |
4,215,000 | JP Morgan Chase Commercial Mortgage Securities | |
| Trust, Series 2016-JP4, Class A3, 3.393%, 12/15/49 | 4,023,357 |
5,435,000(b) | JP Morgan Chase Commercial Mortgage Securities | |
| Trust, Series 2018-BCON, Class C, 3.881%, 1/5/31 (144A) | 5,373,738 |
6,150,000 | JP Morgan Chase Commercial Mortgage Securities Trust, | |
| Series 2018-WPT, Class AFX, 4.248%, 7/5/33 (144A) | 6,097,810 |
3,450,000(b) | JPMDB Commercial Mortgage Securities Trust, Series | |
| 2016-C2, Class B, 3.99%, 6/15/49 | 3,099,588 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 37
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| COMMERCIAL MORTGAGE-BACKED | |
| SECURITIES — (continued) | |
2,000,000(b) | JPMDB Commercial Mortgage Securities Trust, Series | |
| 2016-C4, Class D, 3.197%, 12/15/49 (144A) | $ 1,530,405 |
7,010,000 | JPMDB Commercial Mortgage Securities Trust, Series | |
| 2018-C8, Class A4, 4.211%, 6/15/51 | 6,939,671 |
45,714,000(b) | JPMDB Commercial Mortgage Securities Trust, Series | |
| 2018-C8, Class XB, 0.179%, 6/15/51 | 303,568 |
6,560,000 | Key Commercial Mortgage Securities Trust, Series | |
| 2019-S2, Class A3, 3.469%, 6/15/52 (144A) | 6,091,196 |
12,700,000(a) | Med Trust, Series 2021-MDLN, Class E, 4.475% (1 Month | |
| USD LIBOR + 315 bps), 11/15/38 (144A) | 11,966,652 |
5,900,000(a) | Med Trust, Series 2021-MDLN, Class F, 5.325% (1 Month | |
| USD LIBOR + 400 bps), 11/15/38 (144A) | 5,516,596 |
2,628,500(b) | Morgan Stanley Bank of America Merrill Lynch Trust, | |
| Series 2015-C21, Class C, 4.267%, 3/15/48 | 2,177,938 |
6,330,000(b) | Morgan Stanley Capital I Trust, Series 2018-MP, Class A, | |
| 4.419%, 7/11/40 (144A) | 6,100,234 |
254,884(a) | Multifamily Connecticut Avenue Securities Trust, Series | |
| 2019-01, Class M7, 3.324% (1 Month USD LIBOR | |
| + 170 bps), 10/15/49 (144A) | 249,525 |
2,000,000 | Palisades Center Trust, Series 2016-PLSD, Class A, | |
| 2.713%, 4/13/33 (144A) | 1,895,650 |
6,380,000(a) | Ready Capital Mortgage Financing LLC, Series 2021-FL7, | |
| Class D, 4.574% (1 Month USD LIBOR + | |
| 295 bps), 11/25/36 (144A) | 5,884,865 |
6,285,000(a) | Ready Capital Mortgage Financing LLC, Series 2022-FL8, | |
| Class D, 4.648% (SOFR30A + | |
| 370 bps), 1/25/37 (144A) | 5,907,136 |
316,726 | ReadyCap Commercial Mortgage Trust, Series 2019-6, | |
| Class A, 2.833%, 10/25/52 (144A) | 304,539 |
16,245,000 | SLG Office Trust, Series 2021-OVA, Class E, 2.851%, | |
| 7/15/41 (144A) | 12,600,888 |
4,650,000(b) | Soho Trust, Series 2021-SOHO, Class A, 2.786%, | |
| 8/10/38 (144A) | 4,021,530 |
18,405,000(a) | Taubman Centers Commercial Mortgage Trust, Series | |
2022-DPM, Class B, 4.211% (1 Month Term SOFR + |
| 293 bps), 5/15/37 (144A) | 17,753,194 |
1,774,000(b) | UBS Commercial Mortgage Trust, Series 2018-C9, | |
| Class C, 5.042%, 3/15/51 | 1,604,741 |
6,830,700 | Wells Fargo Commercial Mortgage Trust, Series | |
| 2016-C32, Class A3, 3.294%, 1/15/59 | 6,642,479 |
8,550,940 | Wells Fargo Commercial Mortgage Trust, Series | |
| 2016-LC24, Class A3, 2.684%, 10/15/49 | 8,119,946 |
2,715,000(b) | Wells Fargo Commercial Mortgage Trust, Series | |
| 2018-C43, Class A4, 4.012%, 3/15/51 | 2,678,216 |
2,795,000 | Wells Fargo Commercial Mortgage Trust, Series | |
| 2019-C51, Class A4, 3.311%, 6/15/52 | 2,619,439 |
|
| TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES | |
| (Cost $413,216,934) | $ 381,755,978 |
The accompanying notes are an integral part of these financial statements.
38 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| CORPORATE BONDS — 27.5% of Net Assets |
| Advertising — 0.4% | |
11,894,000 | Interpublic Group of Cos., Inc., 4.75%, 3/30/30 | $ 11,696,221 |
8,355,000 | Stagwell Global LLC, 5.625%, 8/15/29 (144A) | 6,713,493 |
| Total Advertising | $ 18,409,714 |
| Aerospace & Defense — 0.9% | |
19,915,000 | Boeing Co., 3.75%, 2/1/50 | $ 13,975,886 |
13,240,000 | Boeing Co., 3.90%, 5/1/49 | 9,442,788 |
7,995,000 | Boeing Co., 5.805%, 5/1/50 | 7,398,332 |
11,027,000 | Teledyne Technologies, Inc., 2.25%, 4/1/28 | 9,583,041 |
| Total Aerospace & Defense | $ 40,400,047 |
| Airlines — 0.4% | |
745,000 | Air Canada, 3.875%, 8/15/26 (144A) | $ 630,188 |
5,212,901 | Air Canada 2017-1 Class AA Pass Through Trust, | |
| 3.30%, 1/15/30 (144A) | 4,745,495 |
1,320,000 | American Airlines 2021-1 Class B Pass Through Trust, | |
| 3.95%, 7/11/30 | 1,102,889 |
2,490,000 | Delta Air Lines, Inc./SkyMiles IP, Ltd., 4.75%, | |
| 10/20/28 (144A) | 2,355,354 |
4,240,329 | JetBlue 2019-1 Class AA Pass Through Trust, | |
| 2.75%, 5/15/32 | 3,676,040 |
1,611,596 | JetBlue 2020-1 Class A Pass Through Trust, | |
| 4.00%, 11/15/32 | 1,499,953 |
2,282,500 | United Airlines 2020-1 Class B Pass Through Trust, | |
| 4.875%, 1/15/26 | 2,169,240 |
1,320,000 | United Airlines, Inc., 4.375%, 4/15/26 (144A) | 1,178,100 |
1,320,000 | United Airlines, Inc., 4.625%, 4/15/29 (144A) | 1,111,275 |
| Total Airlines | $ 18,468,534 |
| Auto Manufacturers — 0.4% | |
6,150,000 | Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | $ 4,766,250 |
890,000 | Ford Motor Credit Co. LLC, 4.95%, 5/28/27 | 819,052 |
6,320,000 | Ford Motor Credit Co. LLC, 5.584%, 3/18/24 | 6,288,400 |
6,464,000 | General Motors Co., 6.60%, 4/1/36 | 6,561,324 |
1,605,000 | General Motors Financial Co., Inc., 3.10%, 1/12/32 | 1,293,616 |
| Total Auto Manufacturers | $ 19,728,642 |
| Auto Parts & Equipment — 0.0%† | |
2,870,000 | Dana, Inc., 4.25%, 9/1/30 | $ 2,227,702 |
| Total Auto Parts & Equipment | $ 2,227,702 |
| Banks — 7.6% | |
16,300,000(b) | ABN AMRO Bank NV, 2.47% (1 Year CMT Index + | |
| 110 bps), 12/13/29 (144A) | $ 13,919,671 |
2,600,000(b) | ABN AMRO Bank NV, 3.324% (5 Year CMT Index + | |
| 190 bps), 3/13/37 (144A) | 2,091,173 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 39
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Banks — (continued) | |
14,720,000(b) | AIB Group Plc, 4.263% (3 Month USD LIBOR + | |
| 187 bps), 4/10/25 (144A) | $ 14,446,291 |
3,655,000 | Banco do Brasil SA, 3.25%, 9/30/26 (144A) | 3,303,206 |
9,413,000 | Banco Santander Chile, 2.70%, 1/10/25 (144A) | 9,004,476 |
3,630,000 | Banco Santander Mexico SA Institucion de Banca Multiple | |
| Grupo Financiero Santand, 5.375%, 4/17/25 (144A) | 3,638,313 |
8,200,000(b) | Banco Santander SA, 1.722% (1 Year CMT Index + | |
| 90 bps), 9/14/27 | 7,126,711 |
2,800,000 | Banco Santander SA, 2.749%, 12/3/30 | 2,229,301 |
17,000,000(b) | Banco Santander SA, 3.225% (1 Year CMT Index + | |
| 160 bps), 11/22/32 | 13,482,780 |
11,055,000(b) | Bank of America Corp., 2.572% (SOFR + | |
| 121 bps), 10/20/32 | 9,143,992. |
18,900,000(b) | Bank of America Corp., 2.884% (3 Month USD LIBOR + | |
| 119 bps), 10/22/30 | 16,541,816 |
19,195,000(b) | Bank of Nova Scotia, 4.588% (5 Year CMT Index + | |
| 205 bps), 5/4/37 | 17,695,018 |
7,275,000(b) | BNP Paribas SA, 2.159% (SOFR + 122 bps), | |
| 9/15/29 (144A) | 6,098,033 |
11,470,000(b) | BPCE SA, 3.116% (SOFR + 173 bps), 10/19/32 (144A) | 9,267,798 |
5,625,000(b) | BPCE SA, 3.648% (5 Year CMT Index + 190 bps), | |
| 1/14/37 (144A) | 4,728,199 |
7,440,000(b) | Citigroup, Inc., 2.52% (SOFR + 118 bps), 11/3/32 | 6,054,453 |
5,530,000(b) | Citigroup, Inc., 4.91% (SOFR + 209 bps), 5/24/33 | 5,460,094 |
2,095,000(b)(f) | Credit Suisse Group AG, 5.25% (5 Year CMT Index + | |
| 489 bps) (144A) | 1,618,356 |
10,760,000(b)(f) | Credit Suisse Group AG, 7.125% (5 Year USD Swap | |
| Rate + 511 bps) | 10,726,967 |
7,000,000(b) | Goldman Sachs Group, Inc., 2.65% (SOFR + | |
| 126 bps), 10/21/32 | 5,782,013 |
5,815,000(b) | Goldman Sachs Group, Inc., 4.223% (3 Month USD | |
| LIBOR + 130 bps), 5/1/29 | 5,612,854 |
1,305,000 | HSBC Bank Plc, 7.65%, 5/1/25 | 1,395,112 |
10,240,000(b) | HSBC Holdings Plc, 2.206% (SOFR + 129 bps), 8/17/29 | 8,624,978 |
11,015,000(b) | HSBC Holdings Plc, 2.871% (SOFR + 141 bps), 11/22/32 | 9,038,770 |
1,800,000(b) | ING Groep NV, 4.252% (SOFR + 207 bps), 3/28/33 | 1,684,897 |
15,574,000(b)(f) | ING Groep NV, 4.25% (5 Year CMT Index + 286 bps) | 10,619,898 |
900,000(b) | Intesa Sanpaolo S.p.A., 4.198% (1 Year CMT Index + | |
| 260 bps), 6/1/32 (144A) | 660,820 |
9,060,000(b) | JPMorgan Chase & Co., 2.545% (SOFR + | |
| 118 bps), 11/8/32 | 7,521,138 |
2,960,000(b) | JPMorgan Chase & Co., 4.586% (SOFR + | |
| 180 bps), 4/26/33 | 2,917,556 |
7,960,000 | Lloyds Banking Group Plc, 4.65%, 3/24/26 | 7,808,699 |
9,860,000(b) | Macquarie Group, Ltd., 2.691% (SOFR + 144 bps), | |
| 6/23/32 (144A) | 7,952,964 |
The accompanying notes are an integral part of these financial statements.
40 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Banks — (continued) | |
6,190,000(b) | Macquarie Group, Ltd., 2.871% (SOFR + 153 bps), | |
| 1/14/33 (144A) | $ 5,063,469 |
3,490,000(b) | Mitsubishi UFJ Financial Group, Inc., 2.494% (1 Year | |
| CMT Index + 97 bps), 10/13/32 | 2,880,377 |
9,845,000(b) | Morgan Stanley, 5.297% (SOFR + 262 bps), 4/20/37 | 9,559,110 |
10,926,000(b)(f) | Nordea Bank Abp, 3.75% (5 Year CMT Index + | |
| 260 bps) (144A) | 8,047,079 |
6,210,000(b) | Santander Holdings USA, Inc., 2.49% (SOFR + | |
| 125 bps), 1/6/28 | 5,488,476 |
2,195,000(b) | Societe Generale SA, 2.797% (1 Year CMT Index + | |
| 130 bps), 1/19/28 (144A) | 1,962,767 |
3,095,000(b) | Societe Generale SA, 4.027% (1 Year CMT Index + | |
| 190 bps), 1/21/43 (144A) | 2,195,096 |
4,550,000(b)(f) | Societe Generale SA, 5.375% (5 Year CMT Index + | |
| 451 bps) (144A) | 3,526,250 |
8,090,000(b) | Societe Generale SA, 6.221% (1 Year CMT Index + | |
| 320 bps), 6/15/33 (144A) | 7,741,271 |
17,125,000(b) | Standard Chartered Plc, 3.603% (1 Year CMT Index + | |
| 190 bps), 1/12/33 (144A) | 14,050,022 |
2,100,000(b) | State Street Corp., 4.421% (SOFR + 161 bps), 5/13/33 | 2,075,546 |
8,350,000 | Toronto-Dominion Bank, 4.456%, 6/8/32 | 8,281,719 |
12,330,000(b) | UBS Group AG, 2.746% (1 Year CMT Index + | |
| 110 bps), 2/11/33 (144A) | 10,063,494 |
19,295,000(b) | UniCredit S.p.A., 2.569% (1 Year CMT Index + | |
| 230 bps), 9/22/26 (144A) | 17,277,671 |
4,578,000(b) | UniCredit S.p.A., 5.459% (5 Year CMT Index + | |
| 475 bps), 6/30/35 (144A) | 3,707,767 |
7,483,000(b) | UniCredit S.p.A., 7.296% (5 Year USD 1100 Run ICE | |
| Swap Rate + 491 bps), 4/2/34 (144A) | 6,888,855 |
17,775,000(b) | US Bancorp, 2.491% (5 Year CMT Index + | |
| 95 bps), 11/3/36 | 14,524,379 |
| Total Banks | $ 349,529,695 |
| Beverages — 0.3% | |
11,583,000 | Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/49 | $ 11,898,001 |
| Total Beverages | $ 11,898,001 |
| Biotechnology — 0.2% | |
2,429,000 | Bio-Rad Laboratories, Inc., 3.70%, 3/15/32 | $ 2,164,485 |
5,780,000 | CSL Finance Plc, 4.25%, 4/27/32 (144A) | 5,666,971 |
3,995,000 | Grifols Escrow Issuer SA, 4.75%, 10/15/28 (144A) | 3,465,663 |
| Total Biotechnology | $ 11,297,119 |
| Building Materials — 0.3% | |
5,600,000 | Builders FirstSource, Inc., 6.375%, 6/15/32 (144A) | $ 4,998,000 |
4,490,000 | Fortune Brands Home & Security, Inc., 4.50%, 3/25/52 | 3,488,858 |
625,000 | MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, | |
| 2/1/30 (144A) | 502,977 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 41
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Building Materials — (continued) | |
5,740,000 | Standard Industries, Inc., 4.375%, 7/15/30 (144A) | $ 4,527,425 |
365,000 | Summit Materials LLC/Summit Materials Finance | |
| Corp., 5.25%, 1/15/29 (144A) | 318,462 |
| Total Building Materials | $ 13,835,722 |
| Chemicals — 0.8% | |
16,840,000 | Albemarle Corp., 5.65%, 6/1/52 | $ 16,935,081 |
2,265,000 | Ingevity Corp., 3.875%, 11/1/28 (144A) | 1,896,938 |
3,208,000 | NOVA Chemicals Corp., 5.25%, 6/1/27 (144A) | 2,751,502 |
9,626,000 | Olin Corp., 5.00%, 2/1/30 | 8,313,976 |
825,000 | Olin Corp., 5.625%, 8/1/29 | 735,281 |
5,340,000 | Tronox, Inc., 4.625%, 3/15/29 (144A) | 4,297,585 |
| Total Chemicals | $ 34,930,363 |
| Commercial Services — 0.4% | |
3,646,000 | Allied Universal Holdco LLC/Allied Universal Finance | |
| Corp., 6.625%, 7/15/26 (144A) | $ 3,337,334 |
2,115,000 | Allied Universal Holdco LLC/Allied Universal Finance | |
| Corp./Atlas Luxco 4 S.a.r.l., 4.625%, 6/1/28 (144A) | 1,749,307 |
1,230,000 | Allied Universal Holdco LLC/Allied Universal Finance | |
| Corp./Atlas Luxco 4 S.a.r.l., 4.625%, 6/1/28 (144A) | 1,002,374 |
3,080,000 | CoreLogic, Inc., 4.50%, 5/1/28 (144A) | 2,371,600 |
6,660,000 | Garda World Security Corp., 4.625%, 2/15/27 (144A) | 5,727,600 |
5,385,000 | Prime Security Services Borrower LLC/Prime Finance, | |
| Inc., 6.25%, 1/15/28 (144A) | 4,497,786 |
| Total Commercial Services | $ 18,686,001 |
| Cosmetics/Personal Care — 0.1% | |
3,510,000 | Edgewell Personal Care Co., 5.50%, 6/1/28 (144A) | $ 3,193,749 |
| Total Cosmetics/Personal Care | $ 3,193,749 |
| Diversified Financial Services — 1.8% | |
6,710,000 | AerCap Ireland Capital DAC/AerCap Global Aviation | |
| Trust, 3.30%, 1/30/32 | $ 5,362,326 |
7,725,000 | Air Lease Corp., 2.10%, 9/1/28 | 6,204,327 |
4,915,000 | Air Lease Corp., 2.875%, 1/15/32 | 3,840,964 |
6,235,000 | Air Lease Corp., 3.125%, 12/1/30 | 5,110,433 |
11,780,000 | Ally Financial, Inc., 4.75%, 6/9/27 | 11,328,450 |
905,000 | Avolon Holdings Funding, Ltd., 3.95%, 7/1/24 (144A) | 867,195 |
6,515,000 | B3 SA - Brasil Bolsa Balcao, 4.125%, 9/20/31 (144A) | 5,326,013 |
8,534,000 | Bread Financial Holdings, Inc., 7.00%, 1/15/26 (144A) | 8,149,117 |
9,235,000(b) | Capital One Financial Corp., 5.268% (SOFR + | |
| 237 bps), 5/10/33 | 9,092,560 |
14,325,000 | Nomura Holdings, Inc., 2.999%, 1/22/32 | 11,667,435 |
4,645,000(g) | Nomura Holdings, Inc., 5.605%, 7/6/29 | 4,656,901 |
4,020,000 | OneMain Finance Corp., 3.50%, 1/15/27 | 3,216,000 |
The accompanying notes are an integral part of these financial statements.
42 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Diversified Financial Services — (continued) | |
2,755,000(a) | OWS Cre Funding I LLC, 6.613% (1 Month USD LIBOR + | |
| 490 bps), 9/1/23 (144A) | $ 2,717,635 |
8,559,000 | United Wholesale Mortgage LLC, 5.50%, 4/15/29 (144A) | 6,553,027 |
| Total Diversified Financial Services | $ 84,092,383 |
| Electric — 1.3% | |
8,170,000 | AES Corp., 2.45%, 1/15/31 | $ 6,588,063 |
2,955,000 | AES Corp., 3.95%, 7/15/30 (144A) | 2,664,524 |
6,305,000(b) | Algonquin Power & Utilities Corp., 4.75% (5 Year CMT | |
| Index + 325 bps), 1/18/82 | 5,233,032 |
955,000 | Clearway Energy Operating LLC, 3.75%, | |
| 1/15/32 (144A) | 754,546 |
3,825,000(b) | Enel S.p.A., 8.75% (5 Year USD Swap Rate + | |
| 588 bps), 9/24/73 (144A) | 3,923,264 |
8,840,000 | NRG Energy, Inc., 2.45%, 12/2/27 (144A) | 7,600,819 |
7,410,000 | NRG Energy, Inc., 3.875%, 2/15/32 (144A) | 5,885,637 |
1,150,000 | Pattern Energy Operations LP/Pattern Energy | |
| Operations, Inc., 4.50%, 8/15/28 (144A) | 1,007,400 |
6,870,000 | Puget Energy, Inc., 2.379%, 6/15/28 | 6,016,938 |
7,185,000 | Puget Energy, Inc., 4.10%, 6/15/30 | 6,694,457 |
2,120,000 | Puget Energy, Inc., 4.224%, 3/15/32 | 1,959,834 |
10,594,000 | Vistra Operations Co. LLC, 3.70%, 1/30/27 (144A) | 9,764,860 |
1,517,000 | Vistra Operations Co. LLC, 4.375%, 5/1/29 (144A) | 1,269,168 |
| Total Electric | $ 59,362,542 |
| Electrical Components & Equipments — 0.0%† | |
1,990,000 | Energizer Holdings, Inc., 6.50%, 12/31/27 (144A) | $ 1,743,738 |
| Total Electrical Components & Equipments | $ 1,743,738 |
| Electronics — 0.0%† | |
1,885,000 | Atkore, Inc., 4.25%, 6/1/31 (144A) | $ 1,564,550 |
| Total Electronics | $ 1,564,550 |
| Energy-Alternate Sources — 0.1% | |
4,617,778 | Adani Renewable Energy RJ, Ltd./Kodangal Solar | |
| Parks Pvt, Ltd./Wardha Solar Maharash, 4.625%, | |
| 10/15/39 (144A) | $ 3,431,009 |
261,362 | Alta Wind Holdings LLC, 7.00%, 6/30/35 (144A) | 272,343 |
| Total Energy-Alternate Sources | $ 3,703,352 |
| Engineering & Construction — 0.1% | |
3,763,000 | Dycom Industries, Inc., 4.50%, 4/15/29 (144A) | $ 3,289,972 |
3,030,000 | TopBuild Corp., 4.125%, 2/15/32 (144A) | 2,326,982 |
| Total Engineering & Construction | $ 5,616,954 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 43
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Entertainment — 0.3% | |
3,441,000 | International Game Technology Plc, 6.50%, | |
| 2/15/25 (144A) | $ 3,423,795 |
8,400,000 | Resorts World Las Vegas LLC/RWLV Capital, Inc., | |
| 4.625%, 4/16/29 (144A) | 6,842,543 |
2,700,000 | Resorts World Las Vegas LLC/RWLV Capital, Inc., | |
| 4.625%, 4/6/31 (144A) | 2,151,344 |
| Total Entertainment | $ 12,417,682 |
| Food — 0.6% | |
2,315,000 | Albertsons Cos., Inc./Safeway, Inc./New Albertsons | |
| LP/Albertsons LLC, 4.875%, 2/15/30 (144A) | $ 1,985,899 |
3,430,000 | JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, | |
| Inc., 3.00%, 2/2/29 (144A) | 2,897,332 |
3,210,000 | JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, | |
| Inc., 3.00%, 5/15/32 (144A) | 2,465,154 |
6,320,000 | JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, | |
| Inc., 5.75%, 4/1/33 (144A) | 6,018,473 |
5,405,000 | Minerva Luxembourg SA, 4.375%, 3/18/31 (144A) | 4,321,946 |
1,800,000 | Pilgrim’s Pride Corp., 5.875%, 9/30/27 (144A) | 1,723,500 |
6,070,000 | Smithfield Foods, Inc., 2.625%, 9/13/31 (144A) | 4,806,286 |
5,935,000 | Smithfield Foods, Inc., 3.00%, 10/15/30 (144A) | 4,932,676 |
668,000 | Smithfield Foods, Inc., 5.20%, 4/1/29 (144A) | 657,423 |
| Total Food | $ 29,808,689 |
| Forest Products & Paper — 0.1% | |
2,728,000 | Inversiones CMPC SA, 3.85%, 1/13/30 (144A) | $ 2,393,820 |
| Total Forest Products & Paper | $ 2,393,820 |
| Gas — 0.1% | |
2,810,000 | Boston Gas Co., 3.15%, 8/1/27 (144A) | $ 2,614,100 |
1,673,317 | Nakilat, Inc., 6.267%, 12/31/33 (144A) | 1,817,557 |
| Total Gas | $ 4,431,657 |
| Hand/Machine Tools — 0.1% | |
3,559,000 | Kennametal, Inc., 2.80%, 3/1/31 | $ 2,887,617 |
| Total Hand/Machine Tools | $ 2,887,617 |
| Healthcare-Products — 0.2% | |
2,139,000 | Edwards Lifesciences Corp., 4.30%, 6/15/28 | $ 2,088,012 |
10,178,000 | Smith & Nephew Plc, 2.032%, 10/14/30 | 8,119,511 |
| Total Healthcare-Products | $ 10,207,523 |
| Healthcare-Services — 0.3% | |
16,810,000 | Fresenius Medical Care US Finance III, Inc., 2.375%, | |
| 2/16/31 (144A) | $ 13,324,415 |
2,440,000 | Tenet Healthcare Corp., 6.125%, 6/15/30 (144A) | 2,299,749 |
| Total Healthcare-Services | $ 15,624,164 |
The accompanying notes are an integral part of these financial statements.
44 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Insurance — 1.5% | |
1,683,000 | Aon Corp./Aon Global Holdings Plc, 2.60%, 12/2/31 | $ 1,414,972 |
2,145,000 | AXA SA, 8.60%, 12/15/30 | 2,514,864 |
13,975,000 | CNO Global Funding, 2.65%, 1/6/29 (144A) | 12,201,256 |
2,720,000(b) | Farmers Exchange Capital III, 5.454% (3 Month USD | |
| LIBOR + 345 bps), 10/15/54 (144A) | 2,688,851 |
8,910,000(b) | Farmers Insurance Exchange, 4.747% (3 Month USD | |
| LIBOR + 323 bps), 11/1/57 (144A) | 8,059,983 |
16,962,000 | Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A) | 20,531,782 |
14,190,000 | Nationwide Mutual Insurance Co., 4.35%, | |
| 4/30/50 (144A) | 12,020,274 |
9,700,000(b) | Nippon Life Insurance Co., 2.90% (5 Year CMT Index + | |
| 260 bps), 9/16/51 (144A) | 7,866,096 |
2,590,000 | Primerica, Inc., 2.80%, 11/19/31 | 2,173,389 |
635,000 | Teachers Insurance & Annuity Association of America, | |
| 6.85%, 12/16/39 (144A) | 749,901 |
| Total Insurance | $ 70,221,368 |
| Iron & Steel — 0.1% | |
2,185,000 | Cleveland-Cliffs, Inc., 4.875%, 3/1/31 (144A) | $ 1,926,447 |
2,860,000 | Commercial Metals Co., 4.375%, 3/15/32 | 2,342,551 |
1,065,000 | Mineral Resources, Ltd., 8.00%, 11/1/27 (144A) | 1,042,752 |
1,130,000 | Mineral Resources, Ltd., 8.50%, 5/1/30 (144A) | 1,113,050 |
| Total Iron & Steel | $ 6,424,800 |
| Lodging — 0.4% | |
1,750,000 | Genting New York LLC/GENNY Capital, Inc., 3.30%, | |
| 2/15/26 (144A) | $ 1,570,244 |
14,805,000 | Marriott International, Inc., 3.50%, 10/15/32 | 12,807,987 |
2,845,000 | Marriott International, Inc., 4.625%, 6/15/30 | 2,733,730 |
3,945,000 | Sands China, Ltd., 4.875%, 6/18/30 | 2,864,622 |
| Total Lodging | $ 19,976,583 |
| Machinery-Construction & Mining — 0.1% | |
5,155,000 | Weir Group Plc, 2.20%, 5/13/26 (144A) | $ 4,537,563 |
| Total Machinery-Construction & Mining | $ 4,537,563 |
| Media — 0.4% | |
1,085,000 | CCO Holdings LLC/CCO Holdings Capital Corp., | |
| 4.50%, 6/1/33 (144A) | $ 857,150 |
7,800,000 | CCO Holdings LLC/CCO Holdings Capital Corp., | |
| 4.75%, 3/1/30 (144A) | 6,677,389 |
4,380,000 | Charter Communications Operating LLC/Charter | |
| Communications Operating Capital, 4.40%, 4/1/33 | 3,916,334 |
5,325,000 | CSC Holdings LLC, 4.625%, 12/1/30 (144A) | 3,567,750 |
2,125,000 | CSC Holdings LLC, 5.00%, 11/15/31 (144A) | 1,432,314 |
| Total Media | $ 16,450,937 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 45
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Mining — 0.5% | |
5,890,000 | Anglo American Capital Plc, 2.25%, 3/17/28 (144A) | $ 5,095,503 |
4,475,000 | Anglo American Capital Plc, 4.75%, 3/16/52 (144A) | 3,866,272 |
4,092,000 | AngloGold Ashanti Holdings Plc, 3.75%, 10/1/30 | 3,368,812 |
7,176,000 | FMG Resources August 2006 Pty, Ltd., 4.375%, | |
| 4/1/31 (144A) | 5,820,032 |
1,560,000 | FMG Resources August 2006 Pty, Ltd., 6.125%, | |
| 4/15/32 (144A) | 1,404,000 |
1,885,000 | Novelis Corp., 3.875%, 8/15/31 (144A) | 1,445,324 |
| Total Mining | $ 20,999,943 |
| Multi-National — 0.3% | |
5,565,000 | African Export-Import Bank, 3.994%, 9/21/29 (144A) | $ 4,780,780 |
6,560,000 | Banque Ouest Africaine de Developpement, 4.70%, | |
| 10/22/31 (144A) | 5,444,800 |
2,030,000 | Banque Ouest Africaine de Developpement, 5.00%, | |
| 7/27/27 (144A) | 1,844,783 |
| Total Multi-National | $ 12,070,363 |
| Oil & Gas — 0.9% | |
1,225,000 | Harbour Energy Plc, 5.50%, 10/15/26 (144A) | $ 1,100,969 |
2,580,000 | Lundin Energy Finance BV, 2.00%, 7/15/26 (144A) | 2,307,257 |
18,980,000 | Lundin Energy Finance BV, 3.10%, 7/15/31 (144A) | 15,743,795 |
3,755,000 | Petroleos Mexicanos, 6.70%, 2/16/32 | 2,863,188 |
11,125,000 | Phillips 66 Co., 3.75%, 3/1/28 (144A) | 10,592,405 |
7,773,000 | Valero Energy Corp., 6.625%, 6/15/37 | 8,473,962 |
| Total Oil & Gas | $ 41,081,576 |
| Oil & Gas Services — 0.0%† | |
2,065,000 | Halliburton Co., 7.60%, 8/15/96 (144A) | $ 2,106,418 |
| Total Oil & Gas Services | $ 2,106,418 |
| Pharmaceuticals — 0.5% | |
1,770,000 | AdaptHealth LLC, 5.125%, 3/1/30 (144A) | $ 1,491,949 |
4,830,000 | Bausch Health Americas, Inc., 9.25%, 4/1/26 (144A) | 3,453,450 |
8,544,000 | Teva Pharmaceutical Finance Netherlands III BV, | |
| 3.15%, 10/1/26 | 7,006,080 |
2,720,000 | Teva Pharmaceutical Finance Netherlands III BV, | |
| 4.75%, 5/9/27 | 2,323,767 |
2,720,000 | Teva Pharmaceutical Finance Netherlands III BV, | |
| 5.125%, 5/9/29 | 2,240,600 |
4,750,000 | Teva Pharmaceutical Finance Netherlands III BV, | |
| 7.125%, 1/31/25 | 4,630,672 |
| Total Pharmaceuticals | $ 21,146,518 |
The accompanying notes are an integral part of these financial statements.
46 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Pipelines — 1.9% | |
2,265,000 | Boardwalk Pipelines LP, 3.60%, 9/1/32 | $ 1,920,461 |
3,165,000 | DCP Midstream Operating LP, 5.375%, 7/15/25 | 3,077,962 |
3,092,000 | DCP Midstream Operating LP, 5.60%, 4/1/44 | 2,498,692 |
2,930,000 | Energy Transfer LP, 4.15%, 9/15/29 | 2,687,724 |
13,251,000 | Energy Transfer LP, 4.95%, 5/15/28 | 12,973,945 |
4,800,000 | Energy Transfer LP, 5.35%, 5/15/45 | 4,198,810 |
3,750,000 | Energy Transfer LP, 6.00%, 6/15/48 | 3,541,330 |
14,417,000(b)(f) | Energy Transfer LP, 7.125% (5 Year CMT Index + | |
| 531 bps) | 12,371,971 |
470,000 | EnLink Midstream LLC, 5.375%, 6/1/29 | 411,288 |
7,631,000 | EnLink Midstream Partners LP, 5.45%, 6/1/47 | 5,400,764 |
3,944,000 | EnLink Midstream Partners LP, 5.60%, 4/1/44 | 2,791,782 |
1,656,000 | Hess Midstream Operations LP, 5.50%, 10/15/30 (144A) | 1,486,260 |
9,120,000 | MPLX LP, 4.25%, 12/1/27 | 8,814,436 |
7,725,000 | MPLX LP, 4.95%, 3/14/52 | 6,752,416 |
6,295,000 | NGPL PipeCo LLC, 3.25%, 7/15/31 (144A) | 5,258,729 |
2,270,000 | Williams Cos., Inc., 7.75%, 6/15/31 | 2,664,591 |
7,360,000 | Williams Cos., Inc., 7.50%, 1/15/31 | 8,473,585 |
| Total Pipelines | $ 85,324,746 |
| Real Estate — 0.1% | |
5,130,000 | Kennedy-Wilson, Inc., 4.75%, 2/1/30 | $ 4,014,225 |
| Total Real Estate | $ 4,014,225 |
| REITs — 1.4% | |
4,020,000 | Corporate Office Properties LP, 2.00%, 1/15/29 | $ 3,246,660 |
5,245,000 | Corporate Office Properties LP, 2.75%, 4/15/31 | 4,250,171 |
4,450,000 | Corporate Office Properties LP, 2.90%, 12/1/33 | 3,456,017 |
1,955,000 | GLP Capital LP/GLP Financing II, Inc., 3.25%, 1/15/32 | 1,568,357 |
4,748,000 | HAT Holdings I LLC/HAT Holdings II LLC, 3.375%, | |
| 6/15/26 (144A) | 4,083,280 |
8,169,000 | Healthcare Trust of America Holdings LP, 3.10%, 2/15/30 | 7,053,085 |
2,900,000 | Highwoods Realty LP, 2.60%, 2/1/31 | 2,387,788 |
6,520,000 | Highwoods Realty LP, 4.125%, 3/15/28 | 6,241,696 |
5,771,000 | Iron Mountain, Inc., 4.50%, 2/15/31 (144A) | 4,715,744 |
1,184,000 | iStar, Inc., 4.25%, 8/1/25 | 1,092,240 |
7,870,000 | LXP Industrial Trust, 2.375%, 10/1/31 | 6,102,319 |
4,880,000 | LXP Industrial Trust, 2.70%, 9/15/30 | 4,015,424 |
6,975,000 | SBA Tower Trust, 3.869%, 10/8/24 (144A) | 6,869,903 |
3,420,000 | Sun Communities Operating LP, 2.30%, 11/1/28 | 2,931,054 |
4,865,000 | UDR, Inc., 4.40%, 1/26/29 | 4,811,357 |
| Total REITs | $ 62,825,095 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 47
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Retail — 0.7% | |
1,675,000 | AutoNation, Inc., 1.95%, 8/1/28 | $ 1,396,125 |
1,675,000 | AutoNation, Inc., 2.40%, 8/1/31 | 1,295,704 |
7,335,000 | AutoNation, Inc., 3.85%, 3/1/32 | 6,337,566 |
3,775,000 | AutoNation, Inc., 4.75%, 6/1/30 | 3,559,166 |
690,000 | Beacon Roofing Supply, Inc., 4.125%, 5/15/29 (144A) | 561,124 |
11,070,000 | Dollar Tree, Inc., 2.65%, 12/1/31 | 9,147,727 |
8,895,000 | Lowe’s Cos., Inc., 3.75%, 4/1/32 | 8,275,703 |
| Total Retail | $ 30,573,115 |
| Semiconductors — 0.5% | |
978,000 | Broadcom, Inc., 3.137%, 11/15/35 (144A) | $ 748,316 |
14,123,000 | Broadcom, Inc., 3.187%, 11/15/36 (144A) | 10,776,941 |
3,930,000 | Broadcom, Inc., 4.15%, 4/15/32 (144A) | 3,561,594 |
2,960,000 | Broadcom, Inc., 4.30%, 11/15/32 | 2,696,088 |
8,577,000 | Skyworks Solutions, Inc., 3.00%, 6/1/31 | 7,063,494 |
| Total Semiconductors | $ 24,846,433 |
| Software — 0.5% | |
14,250,000 | Autodesk, Inc., 2.40%, 12/15/31 | $ 11,668,030 |
12,412,000 | Broadridge Financial Solutions, Inc., 2.60%, 5/1/31 | 10,379,868 |
| Total Software | $ 22,047,898 |
| Telecommunications — 0.8% | |
1,945,000 | Altice France SA, 5.125%, 7/15/29 (144A) | $ 1,468,475 |
7,584,000 | Altice France SA, 5.50%, 1/15/28 (144A) | 6,010,320 |
2,673,000 | Level 3 Financing, Inc., 4.625%, 9/15/27 (144A) | 2,278,733 |
1,155,000 | Lumen Technologies, Inc., 4.00%, 2/15/27 (144A) | 978,148 |
9,430,000 | Motorola Solutions, Inc., 2.30%, 11/15/30 | 7,397,282 |
4,420,000 | Motorola Solutions, Inc., 5.60%, 6/1/32 | 4,458,232 |
5,714,000 | Plantronics, Inc., 4.75%, 3/1/29 (144A) | 5,685,442 |
4,220,000 | T-Mobile USA, Inc., 2.55%, 2/15/31 | 3,560,285 |
5,250,000 | T-Mobile USA, Inc., 2.70%, 3/15/32 (144A) | 4,417,510 |
| Total Telecommunications | $ 36,254,427 |
| Trucking & Leasing — 0.1% | |
6,820,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., | |
| 4.40%, 7/1/27 (144A) | $ 6,695,055 |
| Total Trucking & Leasing | $ 6,695,055 |
| TOTAL CORPORATE BONDS | |
| (Cost $1,465,126,659) | $1,264,057,023 |
The accompanying notes are an integral part of these financial statements.
48 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Shares | | Value |
| CONVERTIBLE PREFERRED STOCKS — 1.5% of |
| Net Assets | |
| Banks — 1.5% | |
8,080(f) | Bank of America Corp., 7.25% | $ 9,732,360 |
48,040(f) | Wells Fargo & Co., 7.50% | 58,393,100 |
| Total Banks | $ 68,125,460 |
| TOTAL CONVERTIBLE PREFERRED STOCKS | |
| (Cost $77,464,827) | $ 68,125,460 |
|
Principal | | |
Amount | | |
USD ($) | | |
| MUNICIPAL BONDS — 0.9% of Net Assets (h) |
| Arizona — 0.1% | |
2,710,000 | Maricopa County Industrial Development Authority, | |
| Banner Health, Series 2019F, 3.00%, 1/1/49 | $ 2,119,952 |
| Total Arizona | $ 2,119,952 |
| California — 0.1% | |
2,785,000 | California Health Facilities Financing Authority, | |
| Cedars-Sinai Health System, Series A, 3.00%, 8/15/51 | $ 2,159,183 |
1,395,000 | Regents of the University of California, Medical Center | |
| Pooled Revenue, Series P, 4.00%, 5/15/53 | 1,342,952 |
| Total California | $ 3,502,135 |
| Florida — 0.0%† | |
2,090,000 | South Broward Hospital District, South Broward Hospital | |
| District Obligated Group, Series A, 2.50%, 5/1/47 | $ 1,461,433 |
| Total Florida | $ 1,461,433 |
| Georgia — 0.0%† | |
1,205,000 | Gainesville & Hall County Hospital Authority, Northeast | |
| Georgia Health System, Inc. Project, Series A, | |
| 3.00%, 2/15/51 | $ 914,438 |
| Total Georgia | $ 914,438 |
| Massachusetts — 0.0%† | |
2,210,000(i) | Commonwealth of Massachusetts, Series B, 3.00%, 4/1/47 | $ 1,789,570 |
| Total Massachusetts | $ 1,789,570 |
| Missouri — 0.0%† | |
555,000 | Health & Educational Facilities Authority of the State of | |
| Missouri, BJC Health System, Series A, 3.00%, 7/1/38 | $ 478,854 |
| Total Missouri | $ 478,854 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 49
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Nebraska — 0.1% | |
1,100,000(i) | Lancaster County School District 001, 2.00%, 1/15/43 | $ 766,865 |
4,105,000 | University of Nebraska Facilities Corp., Green Bond, | |
| Series B, 3.00%, 7/15/54 | 3,156,293 |
| Total Nebraska | $ 3,923,158 |
| New Jersey — 0.1% | |
1,395,000 | New Jersey Health Care Facilities Financing Authority, | |
| Atlanticare Health System Obligated Group Issue, | |
| 3.00%, 7/1/46 | $ 1,128,081 |
3,000,000 | New Jersey Health Care Facilities Financing Authority, | |
| RWJ Barnabas Health Obligated Group Issue, | |
| 3.00%, 7/1/51 | 2,380,230 |
| Total New Jersey | $ 3,508,311 |
| New York — 0.0%† | |
2,205,000 | New York State Thruway Authority, Series A-1, 3.00%, | |
| 3/15/50 | $ 1,698,776 |
| Total New York | $ 1,698,776 |
| North Carolina — 0.1% | |
2,215,000 | City of Charlotte Airport Revenue, Charlotte Douglas | |
| International Airport Revenue, Series A, 4.00%, 7/1/47 | $ 2,195,087 |
| Total North Carolina | $ 2,195,087 |
| Oregon — 0.0%† | |
1,950,000 | Oregon Health & Science University, Green Bond, | |
| Series A, 3.00%, 7/1/51 | $ 1,523,671 |
| Total Oregon | $ 1,523,671 |
| Pennsylvania — 0.1% | |
4,175,000 | Montgomery County Higher Education and Health | |
| Authority, Thomas Jefferson University, Series B, | |
| 4.00%, 5/1/56 | $ 3,716,669 |
930,000 | Pennsylvania Turnpike Commission, Series C, | |
| 3.00%, 12/1/51 | 719,894 |
| Total Pennsylvania | $ 4,436,563 |
| Tennessee — 0.0%† | |
305,000 | City of Memphis TN Water Revenue, Memphis Light, | |
| Gas and Water Division, 3.00%, 12/1/45 | $ 252,147 |
| Total Tennessee | $ 252,147 |
| Texas — 0.1% | |
3,760,000 | Harris County Cultural Education Facilities Finance Corp., | |
| Texas Children’s Hospital, 3.00%, 10/1/51 | $ 2,980,965 |
1,395,000 | Texas Water Development Board, State Revolving | |
| Fund, 3.00%, 8/1/40 | 1,250,032 |
| Total Texas | $ 4,230,997 |
The accompanying notes are an integral part of these financial statements.
50 Pioneer Bond Fund | Annual Report | 6/30/22
Principal | | |
Amount | | |
USD ($) | | Value |
| Virginia — 0.2% | |
945,000 | Hampton Roads Transportation Accountability | |
| Commission, Series A, 4.00%, 7/1/57 | $ 893,942 |
1,670,000 | Roanoke Economic Development Authority, Carilion | |
| Clinic Obligated Group, 3.00%, 7/1/45 | 1,350,779 |
710,000 | Rockingham County Economic Development Authority, | |
| Sentara RMH Medical Center, Series A, 3.00%, 11/1/46 | 562,143 |
2,860,000 | Virginia College Building Authority, Series C, | |
| 3.00%, 9/1/51 | 2,280,478 |
2,335,000 | Virginia Commonwealth Transportation Board, | |
| Transportation Capital Projects, 4.00%, 5/15/32 | 2,382,424 |
| Total Virginia | $ 7,469,766 |
| TOTAL MUNICIPAL BONDS | |
| (Cost $38,773,719) | $ 39,504,858 |
| INSURANCE-LINKED SECURITIES — 2.8% of |
| Net Assets# | |
| Event Linked Bonds — 0.6% | |
| Earthquakes – California — 0.1% | |
1,000,000(a) | Phoenician Re, 4.193%, (3 Month U.S. Treasury Bill + | |
| 250 bps), 12/14/24 (144A) | $ 966,500 |
1,750,000(a) | Sutter Re, 6.924%, (3 Month U.S. Treasury Bill + | |
| 504 bps), 5/23/23 (144A) | 1,748,425 |
| | $ 2,714,925 |
| Earthquakes – Mexico — 0.0%† | |
250,000(a) | International Bank for Reconstruction & Development, | |
| 5.141%, (3 Month USD LIBOR + 350 bps), 3/13/24 (144A) | $ 250,750 |
| Health – U.S. — 0.1% | |
2,500,000(a) | Vitality Re X, 3.443%, (3 Month U.S. Treasury Bill + | |
| 175 bps), 1/10/23 (144A) | $ 2,481,000 |
| Inland Flood – U.S. — 0.1% | |
2,000,000(a) | FloodSmart Re, 12.948%, (3 Month U.S. Treasury Bill + | |
| 1,125 bps), 2/25/25 (144A) | $ 1,924,000 |
1,250,000(a) | FloodSmart Re, 15.273%, (3 Month U.S. Treasury Bill + | |
| 1,358 bps), 3/1/24 (144A) | 1,140,875 |
750,000(a) | FloodSmart Re, 16.773%, (3 Month U.S. Treasury Bill + | |
| 1,508 bps), 2/27/23 (144A) | 701,550 |
| | $ 3,766,425 |
| Multiperil – U.S. — 0.2% | |
100,000(a) | Caelus Re V, 1.726%, (1 Month U.S. Treasury Bill + | |
| 10 bps), 6/5/24 (144A) | $ 75,000 |
500,000(a) | Four Lakes Re, 6.448%, (3 Month U.S. Treasury Bill + | |
| 475 bps), 1/7/25 (144A) | 492,300 |
500,000(a) | Herbie Re, 11.346%, (3 Month U.S. Treasury Bill + | |
| 900 bps), 1/8/25 (144A) | 504,250 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 51
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| Multiperil – U.S. — (continued) | |
2,000,000(a) | Matterhorn Re, 6.825%, (SOFR + 525 bps), 3/24/25 (144A) | $ 1,952,000 |
1,000,000(a) | Matterhorn Re, 9.26%, (SOFR + 775 bps), 3/24/25 (144A) | 982,400 |
2,750,000(a) | Sanders Re II, 4.788%, (3 Month U.S. Treasury Bill + | |
| 325 bps), 4/7/25 (144A) | 2,712,875 |
| | $ 6,718,825 |
| Multiperil – U.S. & Canada — 0.0%† | |
250,000(a) | Matterhorn Re, 7.172%, (SOFR + 575 bps), | |
| 12/8/25 (144A) | $ 241,125 |
750,000(a) | Northshore Re II, Ltd., 8.00%, (3 Month U.S. Treasury | |
| Bill + 800 bps), 7/8/25 (144A) | 750,000 |
| | $ 991,125 |
| Multiperil – U.S. Regional — 0.1% | |
1,000,000(a) | Kilimanjaro III Re, Ltd., 5.25%, (3 Month U.S. Treasury | |
| Bill + 525 bps), 6/25/25 (144A) | $ 999,900 |
3,500,000(a) | Long Point Re IV, Ltd., 5.945%, (3 Month USD LIBOR + | |
| 425 bps), 6/1/26 (144A) | 3,496,500 |
1,250,000(a) | Matterhorn Re, 6.693%, (3 Month U.S. Treasury Bill + | |
| 500 bps), 1/8/24 (144A) | 1,125,000 |
| | $ 5,621,400 |
| Pandemic – U.S — 0.0%† | |
1,000,000(a) | Vitality Re XI, 3.493%, (3 Month U.S. Treasury Bill + | |
| 180 bps), 1/9/24 (144A) | $ 975,500 |
| Windstorm – Florida — 0.0%† | |
750,000(a) | Integrity Re, Ltd., 8.698%, (3 Month U.S. Treasury Bill + | |
| 700 bps), 6/6/25 (144A) | $ 747,000 |
| Windstorm – U.S — 0.0%† | |
250,000(a) | Bonanza Re, 7.448%, (3 Month U.S. Treasury Bill + | |
| 575 bps), 3/16/25 (144A) | $ 246,525 |
| Windstorm – U.S. Regional — 0.0%† | |
1,000,000(a) | Commonwealth Re, Ltd., 3.50%, (3 Month U.S. Treasury Bill + | |
| 350 bps), 7/8/25 (144A) | $ 999,000 |
| Total Event Linked Bonds | $ 25,512,475 |
|
Face | | |
Amount | | |
USD ($) | | |
|
| Collateralized Reinsurance — 0.5% | |
| Earthquakes – California — 0.0%† | |
1,006,000(j)+ | Adare Re 2022, 12/31/27 | $ 1,030,275 |
The accompanying notes are an integral part of these financial statements.
52 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Face | | |
Amount | | |
USD ($) | | Value |
| Multiperil – Massachusetts — 0.1% | |
1,250,000(j)+ | Ailsa Re 2022, 5/31/28 | $ 1,208,549 |
2,000,000(j)(k)+ | Denning Re 2021, 7/31/25 | 2,003,334 |
| | $ 3,211,883 |
| Multiperil – U.S. — 0.1% | |
8,000,000(j)(k)+ | Ballybunion Re 2020, 2/28/23 | $ 903,793 |
2,250,000(j)(k)+ | Ballybunion Re 2021-3, 7/31/25 | 2,281,500 |
1,750,000(j)(k)+ | Ballybunion Re 2022, 12/31/27 | 1,767,500 |
750,000(j)(k)+ | Dingle Re 2020, 12/31/22 | 4,463 |
500,000(j)+ | Port Royal Re 2022, 4/30/28 | 485,088 |
| | $ 5,442,344 |
| Multiperil – Worldwide — 0.2% | |
5,500,000(j)+ | Gamboge Re 2022, 3/31/28 | $ 5,084,894 |
20,000(j)(k)+ | Limestone Re, 9/9/22 (144A) | — |
167,000(j)+ | Limestone Re, 10/1/23 (144A) | — |
1,420,000(j)(k)+ | Limestone Re 2020-1, 3/1/24 (144A) | 47,854 |
480,000(j)(k)+ | Limestone Re 2020-1, 3/1/24 (144A) | 16,176 |
250,000(j)(k)+ | Merion Re 2022-1, 12/31/27 | 228,096 |
250,000(j)(k)+ | Old Head Re 2022, 12/31/27 | 218,912 |
1,000,000(j)(k)+ | Pine Valley Re 2022, 12/31/27 | 956,890 |
553,333(j)(k)+ | Walton Health Re 2018, 6/15/23 | 44,047 |
350,000(j)(k)+ | Walton Health Re 2019, 6/30/23 | 292,110 |
| | $ 6,888,979 |
| Windstorm – Florida — 0.0%† | |
1,500,000(j)(k)+ | Formby Re 2018, 2/28/23 | $ 134,263 |
| Windstorm – U.S — 0.0%† | |
500,000(j)+ | Shadow Creek Re 2021, 7/31/25 | $ 7,593 |
| Windstorm – U.S. Regional — 0.1% | |
1,000,000(j)(k)+ | Oakmont Re 2017, 4/30/23 | $ 29,400 |
7,255,240(j)(k)+ | Oakmont Re 2020, 3/31/27 | 270,824 |
4,500,000(j)+ | Oakmont Re 2022, 4/1/28 | 4,216,349 |
| | $ 4,516,573 |
| Total Collateralized Reinsurance | $ 21,231,910 |
| Reinsurance Sidecars — 1.6% | |
| Multiperil – U.S. — 0.0%† | |
2,000,000(j)(k)+ | Carnoustie Re 2020, 12/31/23 | $ 271,200 |
1,853,719(j)(k)+ | Carnoustie Re 2021, 12/31/24 | 87,865 |
1,000,000(j)(k)+ | Carnoustie Re 2022, 12/31/27 | 1,042,841 |
2,000,000(k)(l)+ | Harambee Re 2018, 12/31/22 | — |
5,000,000(l)+ | Harambee Re 2019, 12/31/22 | 14,000 |
4,000,000(k)(l)+ | Harambee Re 2020, 12/31/23 | 102,400 |
| | $ 1,518,306 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 53
Schedule of Investments | 6/30/22 (continued)
| | |
Face | | |
Amount | | |
USD ($) | | Value |
| Multiperil – Worldwide — 1.6% | |
2,200(j)+ | Alturas Re 2019-1, 3/10/23 (144A) | $ 10,061 |
34,018(l)+ | Alturas Re 2019-2, 3/10/23 | 11,532 |
24,550(k)(l)+ | Alturas Re 2019-3, 9/12/23 | 679 |
285,668(j)(k)+ | Alturas Re 2020-1A, 3/10/23 (144A) | 8,970 |
363,577(j)+ | Alturas Re 2020-1B, 3/10/23 (144A) | 11,453 |
540,698(l)+ | Alturas Re 2020-2, 1/31/23 | 152,720 |
225,450(k)(l)+ | Alturas Re 2020-3, 9/30/24 | — |
3,959,302(k)(l)+ | Alturas Re 2021-2, 12/31/24 | — |
213,682(k)(l)+ | Alturas Re 2021-3, 7/31/25 | 195,733 |
3,752,400(k)(l)+ | Alturas Re 2022-2, 12/31/27 | 3,908,125 |
2,000,000(j)(k)+ | Bantry Re 2016, 3/31/23 | 120,900 |
5,000,000(j)(k)+ | Bantry Re 2019, 12/31/22 | 169,818 |
4,776,758(j)(k)+ | Bantry Re 2020, 12/31/23 | 310,864 |
5,000,000(j)(k)+ | Bantry Re 2021, 12/31/24 | 757,000 |
4,171,573(j)(k)+ | Bantry Re 2022, 12/31/27 | 4,315,316 |
10,192,268(j)(k)+ | Berwick Re 2018-1, 12/31/22 | 787,862 |
7,281,734(j)(k)+ | Berwick Re 2019-1, 12/31/22 | 870,167 |
3,000,000(j)+ | Berwick Re 2020-1, 12/31/23 | 300 |
4,500,000(j)+ | Berwick Re 2022, 12/31/27 | 4,633,168 |
59,061(j)+ | Eden Re II, 3/22/23 (144A) | 150,180 |
6,000(j)+ | Eden Re II, 3/22/23 (144A) | 15,395 |
640,000(j)+ | Eden Re II, 3/22/24 (144A) | 347,520 |
210,000(j)(k)+ | Eden Re II, 3/22/24 (144A) | 113,190 |
2,250,000(j)(k)+ | Eden Re II, 3/21/25 (144A) | 1,874,250 |
5,200,000(j)+ | Eden Re II, 3/20/26 (144A) | 5,200,000 |
1,000,000(j)(k)+ | Gleneagles Re 2018, 12/31/22 | 118,300 |
1,250,000(j)(k)+ | Gleneagles Re 2020, 12/31/23 | 124,929 |
1,250,000(j)(k)+ | Gleneagles Re 2021, 12/31/24 | 277,857 |
1,250,000(j)(k)+ | Gleneagles Re 2022, 12/31/27 | 1,267,767 |
2,118,314(j)(k)+ | Gullane Re 2018, 12/31/22 | 131,133 |
6,000,000(j)(k)+ | Gullane Re 2022, 12/31/27 | 6,223,274 |
500,000(l)+ | Lion Rock Re 2019, 1/31/23 | — |
500,000(l)+ | Lion Rock Re 2020, 1/31/23 | — |
500,000(k)(l)+ | Lion Rock Re 2021, 12/31/24 | 214,250 |
2,993,180(k)(l)+ | Lorenz Re 2019, 6/30/23 | 285,849 |
2,480,490(k)(l)+ | Lorenz Re 2020, 6/30/23 | 169,914 |
2,019,510(k)(l)+ | Lorenz Re 2020, 6/30/23 | 138,538 |
7,000,000(j)(k)+ | Merion Re 2018-2, 12/31/22 | 1,158,500 |
9,000,000(j)(k)+ | Merion Re 2021-2, 12/31/24 | 1,953,900 |
6,551,154(j)(k)+ | Merion Re 2022-2, 12/31/27 | 6,639,303 |
3,000,000(j)(k)+ | Pangaea Re 2016-2, 11/30/22 | 5,350 |
3,800,000(j)(k)+ | Pangaea Re 2018-1, 12/31/22 | 80,007 |
The accompanying notes are an integral part of these financial statements.
54 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Face | | |
Amount | | |
USD ($) | | Value |
| Multiperil – Worldwide (continued) | |
6,500,000(j)(k)+ | Pangaea Re 2018-3, 7/1/23 | $ 134,832 |
4,017,011(j)(k)+ | Pangaea Re 2019-1, 2/1/23 | 83,704 |
4,779,537(j)(k)+ | Pangaea Re 2019-3, 7/1/23 | 171,924 |
3,974,837(j)+ | Pangaea Re 2020-1, 2/1/24 | 84,354 |
5,000,000(j)+ | Pangaea Re 2020-3, 7/1/24 | 70,391 |
5,000,000(j)+ | Pangaea Re 2021-1, 12/31/24 | 144,254 |
4,727,246(j)(k)+ | Pangaea Re 2022-1, 12/31/27 | 4,916,336 |
2,750,000(k)+ | Pangaea Re 2022-3, 5/31/28 | 2,777,500 |
1,250,000(j)(k)+ | Phoenix One Re, 1/4/27 | 1,363,750 |
1,260,000(k)+ | Sector Re V, 12/1/23 (144A) | 161,231 |
240,014(j)(k)+ | Sector Re V, 12/1/23 (144A) | 37,281 |
600,000(j)+ | Sector Re V, 3/1/24 (144A) | 449,904 |
1,914(j)+ | Sector Re V, 3/1/24 (144A) | 46,287 |
99,999(j)+ | Sector Re V, 12/1/24 (144A) | 284,746 |
200,000(j)+ | Sector Re V, 12/1/24 (144A) | 569,499 |
3,490(j)+ | Sector Re V, 3/1/25 (144A) | 47,338 |
3,326(j)(k)+ | Sector Re V, 12/1/25 (144A) | 167,243 |
5,986(j)(k)+ | Sector Re V, 12/1/25 (144A) | 300,998 |
500,000(a)(j)(k)+ | Sector Re V, 12/1/26 (144A) | 511,458 |
4,199,987(a)(j)(k)+ | Sector Re V, 12/1/26 (144A) | 4,296,238 |
3,609,700(j)+ | Sussex Re 2020-1, 12/31/22 | 26,712 |
1,250,000(j)(k)+ | Sussex Re 2021-1, 12/31/24 | 123,375 |
3,000,000(k)(l)+ | Thopas Re 2019, 12/31/22 | 4,800 |
6,000,000(l)+ | Thopas Re 2020, 12/31/23 | — |
7,000,000(k)(l)+ | Thopas Re 2021, 12/31/24 | — |
4,000,000(k)(l)+ | Thopas Re 2022, 12/31/27 | 4,135,200 |
4,228,426(k)(l)+ | Torricelli Re 2021, 7/31/25 | 4,258,448 |
2,000,000(j)+ | Versutus Re 2018, 12/31/22 | 2,200 |
1,765,095(j)+ | Versutus Re 2019-A, 12/31/22 | 7,590 |
1,734,905(j)+ | Versutus Re 2019-B, 12/31/22 | 5,205 |
1,000,000(k)(l)+ | Viribus Re 2018, 12/31/22 | — |
3,650,000(k)(l)+ | Viribus Re 2019, 12/31/22 | 48,910 |
4,139,570(k)(l)+ | Viribus Re 2020, 12/31/23 | 182,141 |
3,000,000(l)+ | Viribus Re 2022, 12/31/27 | 3,376,800 |
1,623,326(j)(k)+ | Woburn Re 2018, 12/31/22 | 85,359 |
4,979,452(j)(k)+ | Woburn Re 2019, 12/31/22 | 1,061,857 |
| | $ 72,691,939 |
| Total Reinsurance Sidecars | $ 74,210,245 |
| Industry Loss Warranties — 0.1% | |
| Earthquakes – U.S. — 0.0%† | |
3,000,000(j)+ | Vermillion Re 2022, 12/31/27 | $ 2,933,445 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 55
Schedule of Investments | 6/30/22 (continued)
| | |
Face | | |
Amount | | |
USD ($) | | Value |
| Windstorm – U.S. Regional — 0.1% | |
4,000,000+ | Streamsong Re 2022, 12/15/27 | $ 3,707,740 |
| Total Industry Loss Warranties | $ 6,641,185 |
| TOTAL INSURANCE-LINKED SECURITIES | |
| (Cost $128,816,369) | $ 127,595,815 |
|
Principal | | |
Amount | | |
USD ($) | | |
| FOREIGN GOVERNMENT BOND — | |
| 0.2% of Net Assets | |
| Mexico — 0.2% | |
12,320,000 | Mexico Government International Bond, | |
| 4.600%, 2/10/48 | $ 9,622,290 |
| Total Mexico | $ 9,622,290 |
| TOTAL FOREIGN GOVERNMENT BOND | |
| (Cost $11,393,049) | $ 9,622,290 |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — 48.4% of Net Assets | |
142,908 | Fannie Mae, 1.500%, 3/1/41 | $ 122,062 |
38,704,716 | Fannie Mae, 1.500%, 11/1/41 | 33,242,562 |
1,295,362 | Fannie Mae, 1.500%, 1/1/42 | 1,112,477 |
19,792,138 | Fannie Mae, 1.500%, 1/1/42 | 16,997,186 |
13,062,089 | Fannie Mae, 1.500%, 1/1/42 | 11,219,404 |
16,075,382 | Fannie Mae, 1.500%, 2/1/42 | 13,809,237 |
4,358,900 | Fannie Mae, 1.500%, 3/1/42 | 3,743,790 |
22,110,004 | Fannie Mae, 2.000%, 12/1/41 | 19,808,975 |
1,102,351 | Fannie Mae, 2.000%, 2/1/42 | 981,383 |
387,722 | Fannie Mae, 2.000%, 2/1/42 | 345,174 |
1,055,468 | Fannie Mae, 2.000%, 11/1/50 | 925,906 |
647,550 | Fannie Mae, 2.000%, 1/1/51 | 570,637 |
11,432,882 | Fannie Mae, 2.000%, 11/1/51 | 10,016,225 |
171,000,000 | Fannie Mae, 2.000%, 7/1/52 (TBA) | 148,713,223 |
483,775 | Fannie Mae, 2.500%, 7/1/30 | 475,208 |
443,526 | Fannie Mae, 2.500%, 7/1/30 | 435,673 |
742,507 | Fannie Mae, 2.500%, 7/1/30 | 729,359 |
108,952 | Fannie Mae, 2.500%, 12/1/42 | 99,412 |
102,405 | Fannie Mae, 2.500%, 12/1/42 | 93,426 |
106,087 | Fannie Mae, 2.500%, 1/1/43 | 96,803 |
1,161,750 | Fannie Mae, 2.500%, 2/1/43 | 1,059,886 |
43,778 | Fannie Mae, 2.500%, 2/1/43 | 39,616 |
45,426 | Fannie Mae, 2.500%, 2/1/43 | 41,016 |
The accompanying notes are an integral part of these financial statements.
56 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
137,530 | Fannie Mae, 2.500%, 3/1/43 | $ 125,485 |
78,259 | Fannie Mae, 2.500%, 4/1/43 | 70,711 |
127,073 | Fannie Mae, 2.500%, 8/1/43 | 115,968 |
71,848 | Fannie Mae, 2.500%, 12/1/43 | 65,583 |
103,571 | Fannie Mae, 2.500%, 3/1/44 | 94,225 |
655,325 | Fannie Mae, 2.500%, 4/1/45 | 595,712 |
646,621 | Fannie Mae, 2.500%, 4/1/45 | 587,753 |
219,491 | Fannie Mae, 2.500%, 4/1/45 | 199,518 |
124,389 | Fannie Mae, 2.500%, 4/1/45 | 113,095 |
189,037 | Fannie Mae, 2.500%, 4/1/45 | 171,814 |
252,336 | Fannie Mae, 2.500%, 4/1/45 | 229,376 |
69,646 | Fannie Mae, 2.500%, 4/1/45 | 63,317 |
102,426 | Fannie Mae, 2.500%, 4/1/45 | 93,124 |
26,046 | Fannie Mae, 2.500%, 5/1/45 | 23,674 |
54,391 | Fannie Mae, 2.500%, 7/1/45 | 49,437 |
52,264 | Fannie Mae, 2.500%, 8/1/45 | 47,466 |
40,371 | Fannie Mae, 2.500%, 1/1/46 | 36,693 |
18,030,613 | Fannie Mae, 2.500%, 10/1/51 | 16,276,253 |
11,347,296 | Fannie Mae, 2.500%, 12/1/51 | 10,270,739 |
23,952,741 | Fannie Mae, 2.500%, 1/1/52 | 21,695,218 |
4,465,895 | Fannie Mae, 2.500%, 4/1/52 | 4,046,547 |
246,000,000 | Fannie Mae, 2.500%, 7/1/52 (TBA) | 221,649,845 |
1,310,168 | Fannie Mae, 3.000%, 10/1/30 | 1,306,939 |
474,625 | Fannie Mae, 3.000%, 4/1/31 | 473,455 |
9,000,000 | Fannie Mae, 3.000%, 7/1/37 (TBA) | 8,800,664 |
183,052 | Fannie Mae, 3.000%, 6/1/40 | 173,738 |
8,060,453 | Fannie Mae, 3.000%, 8/1/42 | 7,716,983 |
1,948,254 | Fannie Mae, 3.000%, 9/1/42 | 1,865,357 |
2,614,004 | Fannie Mae, 3.000%, 5/1/43 | 2,500,785 |
237,828 | Fannie Mae, 3.000%, 7/1/43 | 227,471 |
544,080 | Fannie Mae, 3.000%, 8/1/43 | 519,056 |
1,643,649 | Fannie Mae, 3.000%, 9/1/43 | 1,571,951 |
326,851 | Fannie Mae, 3.000%, 3/1/45 | 311,868 |
3,225,780 | Fannie Mae, 3.000%, 6/1/45 | 3,074,295 |
1,142,161 | Fannie Mae, 3.000%, 3/1/47 | 1,080,391 |
3,193,103 | Fannie Mae, 3.000%, 4/1/50 | 3,039,367 |
16,709,477 | Fannie Mae, 3.000%, 1/1/52 | 15,731,734 |
4,957,808 | Fannie Mae, 3.000%, 3/1/52 | 4,633,615 |
22,271,849 | Fannie Mae, 3.000%, 3/1/52 | 21,089,263 |
16,184,262 | Fannie Mae, 3.000%, 4/1/52 | 15,219,418 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 57
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
51,000,000 | Fannie Mae, 3.000%, 7/1/52 (TBA) | $ 47,556,504 |
975,285 | Fannie Mae, 3.500%, 6/1/28 | 976,478 |
10,000,000 | Fannie Mae, 3.500%, 7/1/37 (TBA) | 9,947,266 |
304,262 | Fannie Mae, 3.500%, 11/1/40 | 299,853 |
254,318 | Fannie Mae, 3.500%, 10/1/41 | 250,951 |
1,681,099 | Fannie Mae, 3.500%, 11/1/41 | 1,656,665 |
191,839 | Fannie Mae, 3.500%, 6/1/42 | 188,814 |
815,642 | Fannie Mae, 3.500%, 7/1/42 | 801,173 |
906,420 | Fannie Mae, 3.500%, 8/1/42 | 892,171 |
124,373 | Fannie Mae, 3.500%, 10/1/42 | 121,377 |
102,336 | Fannie Mae, 3.500%, 11/1/42 | 100,689 |
241,033 | Fannie Mae, 3.500%, 12/1/42 | 237,403 |
186,231 | Fannie Mae, 3.500%, 12/1/42 | 183,294 |
530,114 | Fannie Mae, 3.500%, 4/1/45 | 520,454 |
1,773,451 | Fannie Mae, 3.500%, 6/1/45 | 1,740,442 |
3,759,156 | Fannie Mae, 3.500%, 8/1/45 | 3,722,490 |
3,473,016 | Fannie Mae, 3.500%, 9/1/45 | 3,400,879 |
1,376,789 | Fannie Mae, 3.500%, 9/1/45 | 1,346,909 |
454,744 | Fannie Mae, 3.500%, 10/1/45 | 445,538 |
5,331,660 | Fannie Mae, 3.500%, 11/1/45 | 5,279,670 |
1,358,593 | Fannie Mae, 3.500%, 5/1/46 | 1,330,490 |
155,528 | Fannie Mae, 3.500%, 10/1/46 | 152,313 |
3,596,124 | Fannie Mae, 3.500%, 1/1/47 | 3,521,830 |
2,842,068 | Fannie Mae, 3.500%, 1/1/47 | 2,783,229 |
1,331,691 | Fannie Mae, 3.500%, 1/1/47 | 1,302,273 |
34,470 | Fannie Mae, 3.500%, 2/1/47 | 33,927 |
81,894 | Fannie Mae, 3.500%, 7/1/47 | 80,081 |
93,836 | Fannie Mae, 3.500%, 10/1/47 | 91,862 |
266,283 | Fannie Mae, 3.500%, 12/1/47 | 263,686 |
2,649,190 | Fannie Mae, 3.500%, 12/1/47 | 2,594,555 |
29,146 | Fannie Mae, 3.500%, 2/1/49 | 27,614 |
33,534 | Fannie Mae, 3.500%, 4/1/49 | 31,332 |
816,892 | Fannie Mae, 3.500%, 5/1/49 | 806,144 |
1,239,081 | Fannie Mae, 3.500%, 5/1/49 | 1,227,039 |
33,863 | Fannie Mae, 3.500%, 7/1/49 | 32,990 |
1,945,943 | Fannie Mae, 3.500%, 7/1/51 | 1,890,736 |
1,027,535 | Fannie Mae, 3.500%, 8/1/51 | 991,026 |
1,315,903 | Fannie Mae, 3.500%, 9/1/51 | 1,269,863 |
125,306 | Fannie Mae, 3.500%, 9/1/51 | 120,852 |
267,302 | Fannie Mae, 3.500%, 10/1/51 | 258,002 |
The accompanying notes are an integral part of these financial statements.
58 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
235,855 | Fannie Mae, 3.500%, 12/1/51 | $ 227,463 |
1,102,999 | Fannie Mae, 3.500%, 2/1/52 | 1,064,407 |
248,877 | Fannie Mae, 3.500%, 2/1/52 | 240,015 |
814,682 | Fannie Mae, 3.500%, 2/1/52 | 785,673 |
274,848 | Fannie Mae, 3.500%, 3/1/52 | 265,285 |
307,774 | Fannie Mae, 3.500%, 3/1/52 | 297,196 |
451,535 | Fannie Mae, 3.500%, 3/1/52 | 436,016 |
1,888,530 | Fannie Mae, 3.500%, 4/1/52 | 1,821,332 |
1,016,181 | Fannie Mae, 3.500%, 4/1/52 | 981,178 |
1,666,345 | Fannie Mae, 3.500%, 4/1/52 | 1,608,558 |
1,513,328 | Fannie Mae, 3.500%, 4/1/52 | 1,459,403 |
3,706,270 | Fannie Mae, 3.500%, 4/1/52 | 3,576,026 |
9,404,682 | Fannie Mae, 3.500%, 4/1/52 | 9,090,197 |
1,827,545 | Fannie Mae, 3.500%, 4/1/52 | 1,763,323 |
641,785 | Fannie Mae, 3.500%, 4/1/52 | 619,231 |
427,712 | Fannie Mae, 3.500%, 4/1/52 | 412,468 |
404,084 | Fannie Mae, 3.500%, 4/1/52 | 390,196 |
533,495 | Fannie Mae, 3.500%, 4/1/52 | 515,655 |
592,803 | Fannie Mae, 3.500%, 4/1/52 | 572,338 |
6,649,107 | Fannie Mae, 3.500%, 5/1/52 | 6,425,631 |
3,000,000 | Fannie Mae, 3.500%, 7/1/52 (TBA) | 2,889,492 |
2,955 | Fannie Mae, 4.000%, 10/1/25 | 2,989 |
83,884 | Fannie Mae, 4.000%, 11/1/34 | 85,397 |
14,000,000 | Fannie Mae, 4.000%, 7/1/37 (TBA) | 14,129,062 |
729,297 | Fannie Mae, 4.000%, 4/1/39 | 738,360 |
2,883,043 | Fannie Mae, 4.000%, 10/1/40 | 2,919,376 |
493,127 | Fannie Mae, 4.000%, 12/1/40 | 499,341 |
399,949 | Fannie Mae, 4.000%, 4/1/41 | 404,962 |
357,810 | Fannie Mae, 4.000%, 5/1/41 | 362,298 |
362,526 | Fannie Mae, 4.000%, 10/1/41 | 366,198 |
238,035 | Fannie Mae, 4.000%, 12/1/41 | 240,619 |
773,781 | Fannie Mae, 4.000%, 1/1/42 | 783,477 |
113,310 | Fannie Mae, 4.000%, 1/1/42 | 114,732 |
580,609 | Fannie Mae, 4.000%, 2/1/42 | 587,885 |
1,983,815 | Fannie Mae, 4.000%, 2/1/42 | 2,008,739 |
765,582 | Fannie Mae, 4.000%, 4/1/42 | 775,187 |
172,930 | Fannie Mae, 4.000%, 4/1/42 | 173,438 |
1,199,923 | Fannie Mae, 4.000%, 5/1/42 | 1,215,003 |
85,493 | Fannie Mae, 4.000%, 6/1/42 | 86,503 |
31,783 | Fannie Mae, 4.000%, 6/1/42 | 31,685 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 59
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
109,966 | Fannie Mae, 4.000%, 7/1/42 | $ 111,087 |
2,011,415 | Fannie Mae, 4.000%, 8/1/42 | 2,045,843 |
453,604 | Fannie Mae, 4.000%, 10/1/42 | 459,298 |
179,699 | Fannie Mae, 4.000%, 10/1/42 | 181,960 |
1,181,883 | Fannie Mae, 4.000%, 11/1/43 | 1,191,662 |
24,291 | Fannie Mae, 4.000%, 1/1/44 | 24,491 |
64,658 | Fannie Mae, 4.000%, 6/1/45 | 65,004 |
219,126 | Fannie Mae, 4.000%, 7/1/45 | 220,931 |
185,158 | Fannie Mae, 4.000%, 4/1/46 | 185,893 |
1,086,391 | Fannie Mae, 4.000%, 7/1/46 | 1,093,960 |
1,493,300 | Fannie Mae, 4.000%, 7/1/46 | 1,499,958 |
883,533 | Fannie Mae, 4.000%, 8/1/46 | 889,690 |
943,256 | Fannie Mae, 4.000%, 8/1/46 | 948,087 |
448,855 | Fannie Mae, 4.000%, 11/1/46 | 452,446 |
1,104,273 | Fannie Mae, 4.000%, 4/1/47 | 1,111,077 |
1,037,430 | Fannie Mae, 4.000%, 4/1/47 | 1,044,038 |
504,535 | Fannie Mae, 4.000%, 6/1/47 | 507,280 |
216,096 | Fannie Mae, 4.000%, 6/1/47 | 216,675 |
432,020 | Fannie Mae, 4.000%, 6/1/47 | 434,704 |
714,569 | Fannie Mae, 4.000%, 6/1/47 | 717,439 |
310,514 | Fannie Mae, 4.000%, 7/1/47 | 311,817 |
784,506 | Fannie Mae, 4.000%, 7/1/47 | 788,054 |
1,352,119 | Fannie Mae, 4.000%, 12/1/47 | 1,354,192 |
14,025 | Fannie Mae, 4.000%, 6/1/48 | 13,984 |
101,539 | Fannie Mae, 4.000%, 6/1/48 | 101,779 |
161,063 | Fannie Mae, 4.000%, 8/1/48 | 160,263 |
824,364 | Fannie Mae, 4.000%, 8/1/48 | 824,942 |
90,211 | Fannie Mae, 4.000%, 8/1/48 | 90,478 |
234,993 | Fannie Mae, 4.000%, 11/1/48 | 236,589 |
12,128 | Fannie Mae, 4.000%, 2/1/49 | 12,144 |
15,157 | Fannie Mae, 4.000%, 3/1/49 | 15,049 |
14,257 | Fannie Mae, 4.000%, 3/1/49 | 14,167 |
106,202 | Fannie Mae, 4.000%, 6/1/49 | 106,172 |
33,590 | Fannie Mae, 4.000%, 9/1/49 | 33,659 |
160,418 | Fannie Mae, 4.000%, 5/1/50 | 158,886 |
69,610 | Fannie Mae, 4.000%, 6/1/50 | 68,979 |
350,722 | Fannie Mae, 4.000%, 7/1/50 | 348,047 |
143,807 | Fannie Mae, 4.000%, 10/1/50 | 142,317 |
248,581 | Fannie Mae, 4.000%, 11/1/50 | 246,132 |
2,371,120 | Fannie Mae, 4.000%, 11/1/50 | 2,348,642 |
The accompanying notes are an integral part of these financial statements.
60 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
922,588 | Fannie Mae, 4.000%, 12/1/50 | $ 912,562 |
88,401 | Fannie Mae, 4.000%, 1/1/51 | 87,709 |
24,066 | Fannie Mae, 4.000%, 1/1/51 | 23,873 |
465,748 | Fannie Mae, 4.000%, 1/1/51 | 460,607 |
218,079 | Fannie Mae, 4.000%, 2/1/51 | 216,113 |
606,129 | Fannie Mae, 4.000%, 2/1/51 | 599,451 |
672,026 | Fannie Mae, 4.000%, 4/1/51 | 664,717 |
84,311 | Fannie Mae, 4.000%, 5/1/51 | 83,732 |
10,334 | Fannie Mae, 4.000%, 6/1/51 | 10,252 |
1,640,742 | Fannie Mae, 4.000%, 6/1/51 | 1,622,388 |
321,854 | Fannie Mae, 4.000%, 7/1/51 | 319,911 |
1,752,174 | Fannie Mae, 4.000%, 7/1/51 | 1,738,413 |
4,043,530 | Fannie Mae, 4.000%, 7/1/51 | 3,996,977 |
213,902 | Fannie Mae, 4.000%, 8/1/51 | 212,502 |
5,839,973 | Fannie Mae, 4.000%, 8/1/51 | 5,772,626 |
164,118 | Fannie Mae, 4.000%, 9/1/51 | 162,224 |
92,265 | Fannie Mae, 4.000%, 10/1/51 | 91,302 |
22,000,000 | Fannie Mae, 4.000%, 7/1/52 (TBA) | 21,719,844 |
45,412 | Fannie Mae, 4.500%, 10/1/35 | 46,748 |
116,694 | Fannie Mae, 4.500%, 8/1/40 | 119,642 |
467,535 | Fannie Mae, 4.500%, 11/1/40 | 481,882 |
131,662 | Fannie Mae, 4.500%, 2/1/41 | 134,734 |
448,501 | Fannie Mae, 4.500%, 4/1/41 | 463,465 |
22,024 | Fannie Mae, 4.500%, 5/1/41 | 22,757 |
838,652 | Fannie Mae, 4.500%, 5/1/41 | 864,429 |
1,201,244 | Fannie Mae, 4.500%, 5/1/41 | 1,241,497 |
464,005 | Fannie Mae, 4.500%, 7/1/41 | 478,221 |
1,412,259 | Fannie Mae, 4.500%, 1/1/42 | 1,459,309 |
1,268,572 | Fannie Mae, 4.500%, 1/1/42 | 1,310,849 |
851,507 | Fannie Mae, 4.500%, 12/1/43 | 877,805 |
155,871 | Fannie Mae, 4.500%, 1/1/47 | 158,131 |
135,093 | Fannie Mae, 4.500%, 2/1/47 | 136,675 |
8,184,668 | Fannie Mae, 4.500%, 5/1/49 | 8,378,134 |
69,354 | Fannie Mae, 4.500%, 6/1/49 | 69,991 |
1,110,175 | Fannie Mae, 4.500%, 2/1/50 | 1,127,785 |
5,730,804 | Fannie Mae, 4.500%, 4/1/50 | 5,865,762 |
1,128,128 | Fannie Mae, 4.500%, 4/1/50 | 1,152,522 |
116,000,000 | Fannie Mae, 4.500%, 7/1/52 (TBA) | 116,593,594 |
195 | Fannie Mae, 5.000%, 9/1/22 | 200 |
4,213 | Fannie Mae, 5.000%, 3/1/23 | 4,325 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 61
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
12,846 | Fannie Mae, 5.000%, 5/1/23 | $ 13,189 |
28,537 | Fannie Mae, 5.000%, 7/1/34 | 28,591 |
110,473 | Fannie Mae, 5.000%, 10/1/34 | 115,261 |
247,449 | Fannie Mae, 5.000%, 2/1/39 | 258,182 |
193,470 | Fannie Mae, 5.000%, 6/1/40 | 203,841 |
132,675 | Fannie Mae, 5.000%, 6/1/40 | 139,734 |
128,272 | Fannie Mae, 5.000%, 7/1/40 | 134,183 |
172,591 | Fannie Mae, 5.000%, 7/1/40 | 181,800 |
266,020 | Fannie Mae, 5.000%, 7/1/40 | 280,172 |
225,128 | Fannie Mae, 5.000%, 8/1/40 | 235,759 |
829,799 | Fannie Mae, 5.000%, 2/1/41 | 870,717 |
3,038,753 | Fannie Mae, 5.000%, 12/1/44 | 3,200,732 |
146,102 | Fannie Mae, 5.000%, 6/1/49 | 149,395 |
696,766 | Fannie Mae, 5.000%, 9/1/49 | 729,586 |
3,173,948 | Fannie Mae, 5.000%, 9/1/49 | 3,338,916 |
43,945 | Fannie Mae, 5.000%, 10/1/49 | 44,937 |
55,000,000 | Fannie Mae, 5.000%, 7/1/52 (TBA) | 56,179,492 |
4,794 | Fannie Mae, 5.500%, 6/1/33 | 5,004 |
34,784 | Fannie Mae, 5.500%, 7/1/33 | 37,177 |
185,198 | Fannie Mae, 5.500%, 7/1/34 | 198,594 |
7,334 | Fannie Mae, 5.500%, 10/1/35 | 7,835 |
76,653 | Fannie Mae, 5.500%, 3/1/36 | 80,715 |
45,391 | Fannie Mae, 5.500%, 5/1/36 | 47,492 |
58,861 | Fannie Mae, 5.500%, 6/1/36 | 63,227 |
23,931 | Fannie Mae, 5.720%, 11/1/28 | 23,988 |
15,946 | Fannie Mae, 5.720%, 6/1/29 | 15,973 |
6,126 | Fannie Mae, 5.900%, 11/1/27 | 6,136 |
27,636 | Fannie Mae, 5.900%, 4/1/28 | 27,720 |
288 | Fannie Mae, 6.000%, 9/1/29 | 308 |
770 | Fannie Mae, 6.000%, 1/1/32 | 810 |
4,645 | Fannie Mae, 6.000%, 2/1/32 | 5,060 |
1,994 | Fannie Mae, 6.000%, 3/1/32 | 2,176 |
1,234 | Fannie Mae, 6.000%, 8/1/32 | 1,346 |
166 | Fannie Mae, 6.000%, 9/1/32 | 180 |
15,517 | Fannie Mae, 6.000%, 10/1/32 | 16,938 |
4,346 | Fannie Mae, 6.000%, 2/1/33 | 4,571 |
25,965 | Fannie Mae, 6.000%, 3/1/33 | 28,337 |
25,215 | Fannie Mae, 6.000%, 4/1/33 | 26,557 |
45,107 | Fannie Mae, 6.000%, 7/1/33 | 47,492 |
15,047 | Fannie Mae, 6.000%, 11/1/33 | 16,416 |
The accompanying notes are an integral part of these financial statements.
62 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
43,120 | Fannie Mae, 6.000%, 8/1/34 | $ 46,736 |
12,042 | Fannie Mae, 6.000%, 9/1/34 | 12,760 |
10,659 | Fannie Mae, 6.000%, 9/1/34 | 11,654 |
38,151 | Fannie Mae, 6.000%, 9/1/34 | 40,164 |
1,251 | Fannie Mae, 6.000%, 9/1/34 | 1,325 |
4,166 | Fannie Mae, 6.000%, 10/1/34 | 4,569 |
4,204 | Fannie Mae, 6.000%, 11/1/34 | 4,606 |
33,453 | Fannie Mae, 6.000%, 11/1/34 | 35,224 |
1,403 | Fannie Mae, 6.000%, 2/1/35 | 1,538 |
2,942 | Fannie Mae, 6.000%, 2/1/35 | 3,226 |
62,119 | Fannie Mae, 6.000%, 4/1/35 | 66,359 |
8,747 | Fannie Mae, 6.000%, 5/1/35 | 9,201 |
71,541 | Fannie Mae, 6.000%, 10/1/35 | 75,257 |
35,136 | Fannie Mae, 6.000%, 12/1/35 | 36,956 |
8,468 | Fannie Mae, 6.000%, 12/1/37 | 9,279 |
76,316 | Fannie Mae, 6.000%, 6/1/38 | 82,236 |
6,884 | Fannie Mae, 6.000%, 7/1/38 | 7,241 |
4,479 | Fannie Mae, 6.500%, 7/1/29 | 4,829 |
170 | Fannie Mae, 6.500%, 1/1/31 | 179 |
302 | Fannie Mae, 6.500%, 4/1/31 | 317 |
1,575 | Fannie Mae, 6.500%, 5/1/31 | 1,654 |
2,193 | Fannie Mae, 6.500%, 9/1/31 | 2,302 |
2,165 | Fannie Mae, 6.500%, 9/1/31 | 2,273 |
1,385 | Fannie Mae, 6.500%, 10/1/31 | 1,454 |
57,731 | Fannie Mae, 6.500%, 12/1/31 | 60,615 |
3,502 | Fannie Mae, 6.500%, 2/1/32 | 3,677 |
13,460 | Fannie Mae, 6.500%, 3/1/32 | 14,132 |
37,193 | Fannie Mae, 6.500%, 7/1/32 | 39,051 |
11,048 | Fannie Mae, 6.500%, 7/1/34 | 11,937 |
40,580 | Fannie Mae, 6.500%, 11/1/37 | 44,842 |
8,584 | Fannie Mae, 6.500%, 11/1/47 | 8,598 |
86 | Fannie Mae, 7.000%, 12/1/30 | 87 |
3,134 | Fannie Mae, 7.000%, 12/1/30 | 3,252 |
2,820 | Fannie Mae, 7.000%, 4/1/31 | 3,023 |
3,426 | Fannie Mae, 7.000%, 9/1/31 | 3,729 |
11,549 | Fannie Mae, 7.000%, 12/1/31 | 11,702 |
8,315 | Fannie Mae, 7.000%, 1/1/32 | 9,081 |
14,214,377 | Federal Home Loan Mortgage Corp., 1.500%, 12/1/41 | 12,203,459 |
2,998,814 | Federal Home Loan Mortgage Corp., 1.500%, 1/1/42 | 2,574,596 |
2,314,716 | Federal Home Loan Mortgage Corp., 1.500%, 1/1/42 | 1,987,269 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 63
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
15,175,167 | Federal Home Loan Mortgage Corp., 1.500%, 1/1/42 | $ 13,028,294 |
7,850,579 | Federal Home Loan Mortgage Corp., 1.500%, 2/1/42 | 6,740,022 |
10,931,408 | Federal Home Loan Mortgage Corp., 1.500%, 2/1/42 | 9,385,004 |
1,536,347 | Federal Home Loan Mortgage Corp., 1.500%, 3/1/42 | 1,319,009 |
359,424 | Federal Home Loan Mortgage Corp., 2.000%, 2/1/42 | 319,985 |
36,015,137 | Federal Home Loan Mortgage Corp., 2.500%, 5/1/51 | 32,527,824 |
4,319,296 | Federal Home Loan Mortgage Corp., 2.500%, 8/1/51 | 3,899,705 |
720,740 | Federal Home Loan Mortgage Corp., 3.000%, 10/1/29 | 719,620 |
113,197 | Federal Home Loan Mortgage Corp., 3.000%, 2/1/38 | 109,212 |
526,586 | Federal Home Loan Mortgage Corp., 3.000%, 9/1/42 | 504,593 |
2,854,494 | Federal Home Loan Mortgage Corp., 3.000%, 11/1/42 | 2,735,265 |
413,056 | Federal Home Loan Mortgage Corp., 3.000%, 2/1/43 | 395,414 |
957,612 | Federal Home Loan Mortgage Corp., 3.000%, 2/1/43 | 917,611 |
1,065,772 | Federal Home Loan Mortgage Corp., 3.000%, 5/1/43 | 1,020,250 |
2,496,718 | Federal Home Loan Mortgage Corp., 3.000%, 6/1/46 | 2,372,788 |
774,601 | Federal Home Loan Mortgage Corp., 3.000%, 12/1/46 | 735,979 |
656,516 | Federal Home Loan Mortgage Corp., 3.000%, 12/1/46 | 623,250 |
2,345,865 | Federal Home Loan Mortgage Corp., 3.000%, 2/1/47 | 2,222,587 |
451,455 | Federal Home Loan Mortgage Corp., 3.000%, 3/1/47 | 425,906 |
47,389 | Federal Home Loan Mortgage Corp., 3.000%, 10/1/48 | 44,490 |
2,826,724 | Federal Home Loan Mortgage Corp., 3.000%, 3/1/52 | 2,641,886 |
4,759,071 | Federal Home Loan Mortgage Corp., 3.000%, 3/1/52 | 4,443,845 |
15,920,940 | Federal Home Loan Mortgage Corp., 3.000%, 3/1/52 | 14,910,856 |
386,827 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/42 | 380,146 |
1,042,592 | Federal Home Loan Mortgage Corp., 3.500%, 8/1/43 | 1,027,087 |
178,507 | Federal Home Loan Mortgage Corp., 3.500%, 9/1/44 | 175,853 |
2,552,424 | Federal Home Loan Mortgage Corp., 3.500%, 6/1/45 | 2,510,234 |
109,856 | Federal Home Loan Mortgage Corp., 3.500%, 7/1/45 | 108,188 |
2,224,830 | Federal Home Loan Mortgage Corp., 3.500%, 10/1/45 | 2,184,376 |
2,250,450 | Federal Home Loan Mortgage Corp., 3.500%, 11/1/45 | 2,205,849 |
2,604,294 | Federal Home Loan Mortgage Corp., 3.500%, 7/1/46 | 2,572,239 |
3,931,215 | Federal Home Loan Mortgage Corp., 3.500%, 8/1/46 | 3,872,758 |
3,347,733 | Federal Home Loan Mortgage Corp., 3.500%, 8/1/46 | 3,298,436 |
3,023,287 | Federal Home Loan Mortgage Corp., 3.500%, 8/1/46 | 2,963,331 |
4,559,464 | Federal Home Loan Mortgage Corp., 3.500%, 12/1/46 | 4,469,041 |
541,511 | Federal Home Loan Mortgage Corp., 3.500%, 1/1/47 | 530,769 |
246,330 | Federal Home Loan Mortgage Corp., 3.500%, 6/1/47 | 241,092 |
36,547 | Federal Home Loan Mortgage Corp., 3.500%, 9/1/51 | 35,315 |
56,581 | Federal Home Loan Mortgage Corp., 3.500%, 1/1/52 | 54,593 |
259,174 | Federal Home Loan Mortgage Corp., 3.500%, 1/1/52 | 251,362 |
The accompanying notes are an integral part of these financial statements.
64 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
275,814 | Federal Home Loan Mortgage Corp., 3.500%, 3/1/52 | $ 266,202 |
296,496 | Federal Home Loan Mortgage Corp., 3.500%, 3/1/52 | 286,307 |
295,330 | Federal Home Loan Mortgage Corp., 3.500%, 3/1/52 | 286,534 |
4,018,971 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 3,891,732 |
3,085,821 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 2,978,008 |
1,180,672 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 1,140,734 |
313,897 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 302,867 |
493,399 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 476,061 |
700,810 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 675,831 |
352,598 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 340,208 |
356,426 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 343,736 |
266,300 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 257,291 |
270,836 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 261,780 |
637,101 | Federal Home Loan Mortgage Corp., 3.500%, 4/1/52 | 614,961 |
4,027,443 | Federal Home Loan Mortgage Corp., 4.000%, 11/1/41 | 4,081,722 |
64,508 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/42 | 65,263 |
27,764 | Federal Home Loan Mortgage Corp., 4.000%, 7/1/42 | 28,139 |
1,339,481 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/42 | 1,357,598 |
16,807 | Federal Home Loan Mortgage Corp., 4.000%, 11/1/42 | 16,974 |
210,690 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/46 | 212,092 |
52,984 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/46 | 53,088 |
1,126,850 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/46 | 1,135,822 |
1,120,519 | Federal Home Loan Mortgage Corp., 4.000%, 7/1/46 | 1,130,815 |
1,031,609 | Federal Home Loan Mortgage Corp., 4.000%, 8/1/46 | 1,037,326 |
52,091 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/46 | 52,137 |
320,671 | Federal Home Loan Mortgage Corp., 4.000%, 3/1/47 | 322,428 |
1,485,771 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 1,492,983 |
1,745,812 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 1,756,261 |
1,742,368 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 1,755,541 |
796,651 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 801,276 |
525,072 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/47 | 528,119 |
1,435,696 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/47 | 1,444,199 |
345,543 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/47 | 347,327 |
387,681 | Federal Home Loan Mortgage Corp., 4.000%, 7/1/47 | 389,891 |
1,194,469 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/47 | 1,197,679 |
802,267 | Federal Home Loan Mortgage Corp., 4.000%, 12/1/48 | 802,052 |
1,193,295 | Federal Home Loan Mortgage Corp., 4.000%, 12/1/48 | 1,192,789 |
48,931 | Federal Home Loan Mortgage Corp., 4.000%, 3/1/49 | 48,667 |
225,701 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/49 | 224,315 |
215,723 | Federal Home Loan Mortgage Corp., 4.000%, 5/1/50 | 213,975 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 65
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
397,455 | Federal Home Loan Mortgage Corp., 4.000%, 6/1/50 | $ 395,032 |
244,019 | Federal Home Loan Mortgage Corp., 4.000%, 8/1/50 | 241,586 |
198,307 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/50 | 197,836 |
378,107 | Federal Home Loan Mortgage Corp., 4.000%, 2/1/51 | 375,293 |
206,379 | Federal Home Loan Mortgage Corp., 4.000%, 4/1/51 | 204,120 |
185,727 | Federal Home Loan Mortgage Corp., 4.000%, 9/1/51 | 183,635 |
1,139,889 | Federal Home Loan Mortgage Corp., 4.000%, 9/1/51 | 1,131,403 |
2,617,991 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/51 | 2,588,430 |
422,432 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/51 | 418,077 |
570,314 | Federal Home Loan Mortgage Corp., 4.000%, 10/1/51 | 565,834 |
741,857 | Federal Home Loan Mortgage Corp., 4.500%, 11/1/40 | 765,394 |
460,443 | Federal Home Loan Mortgage Corp., 4.500%, 3/1/42 | 476,078 |
46,722 | Federal Home Loan Mortgage Corp., 4.500%, 11/1/43 | 47,983 |
312,729 | Federal Home Loan Mortgage Corp., 4.500%, 11/1/48 | 317,625 |
158,410 | Federal Home Loan Mortgage Corp., 4.500%, 6/1/49 | 160,602 |
171,447 | Federal Home Loan Mortgage Corp., 4.500%, 7/1/49 | 172,938 |
1,401,629 | Federal Home Loan Mortgage Corp., 4.500%, 7/1/49 | 1,414,083 |
1,030,730 | Federal Home Loan Mortgage Corp., 4.500%, 8/1/49 | 1,039,891 |
3,757 | Federal Home Loan Mortgage Corp., 5.000%, 11/1/34 | 3,960 |
47,440 | Federal Home Loan Mortgage Corp., 5.000%, 6/1/35 | 48,557 |
108,755 | Federal Home Loan Mortgage Corp., 5.000%, 9/1/38 | 114,653 |
105,919 | Federal Home Loan Mortgage Corp., 5.000%, 10/1/38 | 111,661 |
913 | Federal Home Loan Mortgage Corp., 5.000%, 5/1/39 | 963 |
2,206 | Federal Home Loan Mortgage Corp., 5.000%, 12/1/39 | 2,326 |
887,749 | Federal Home Loan Mortgage Corp., 5.000%, 9/1/49 | 913,289 |
2,304,622 | Federal Home Loan Mortgage Corp., 5.000%, 10/1/49 | 2,370,602 |
351,370 | Federal Home Loan Mortgage Corp., 5.000%, 10/1/49 | 359,410 |
3,428,617 | Federal Home Loan Mortgage Corp., 5.000%, 12/1/49 | 3,517,888 |
69,784 | Federal Home Loan Mortgage Corp., 5.500%, 9/1/33 | 74,910 |
3,390 | Federal Home Loan Mortgage Corp., 5.500%, 1/1/34 | 3,627 |
34,281 | Federal Home Loan Mortgage Corp., 5.500%, 11/1/34 | 36,810 |
3,694 | Federal Home Loan Mortgage Corp., 5.500%, 11/1/34 | 3,845 |
48,029 | Federal Home Loan Mortgage Corp., 5.500%, 8/1/35 | 50,280 |
13,596 | Federal Home Loan Mortgage Corp., 5.500%, 11/1/35 | 14,600 |
338,781 | Federal Home Loan Mortgage Corp., 5.500%, 6/1/41 | 364,432 |
33,981 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/33 | 36,132 |
12,335 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/33 | 12,987 |
15,767 | Federal Home Loan Mortgage Corp., 6.000%, 2/1/33 | 17,221 |
1,384 | Federal Home Loan Mortgage Corp., 6.000%, 2/1/33 | 1,465 |
47,940 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/33 | 52,386 |
The accompanying notes are an integral part of these financial statements.
66 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
8,053 | Federal Home Loan Mortgage Corp., 6.000%, 3/1/33 | $ 8,479 |
39,477 | Federal Home Loan Mortgage Corp., 6.000%, 9/1/33 | 43,172 |
18,702 | Federal Home Loan Mortgage Corp., 6.000%, 11/1/33 | 19,883 |
4,884 | Federal Home Loan Mortgage Corp., 6.000%, 11/1/33 | 5,222 |
32,463 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/33 | 34,188 |
7,087 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/33 | 7,462 |
28,325 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/34 | 30,009 |
10,959 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/34 | 11,999 |
138,967 | Federal Home Loan Mortgage Corp., 6.000%, 5/1/34 | 152,215 |
27,008 | Federal Home Loan Mortgage Corp., 6.000%, 5/1/34 | 28,438 |
12,745 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/35 | 13,424 |
38,954 | Federal Home Loan Mortgage Corp., 6.000%, 6/1/35 | 41,024 |
41,849 | Federal Home Loan Mortgage Corp., 6.000%, 4/1/36 | 44,158 |
26,887 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/36 | 28,340 |
3,697 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/36 | 4,058 |
8,814 | Federal Home Loan Mortgage Corp., 6.000%, 12/1/36 | 9,384 |
22,800 | Federal Home Loan Mortgage Corp., 6.000%, 1/1/38 | 25,026 |
39,427 | Federal Home Loan Mortgage Corp., 6.000%, 7/1/38 | 42,417 |
167 | Federal Home Loan Mortgage Corp., 6.500%, 11/1/30 | 175 |
136 | Federal Home Loan Mortgage Corp., 6.500%, 3/1/31 | 143 |
950 | Federal Home Loan Mortgage Corp., 6.500%, 3/1/31 | 1,056 |
2,452 | Federal Home Loan Mortgage Corp., 6.500%, 5/1/31 | 2,624 |
3,815 | Federal Home Loan Mortgage Corp., 6.500%, 5/1/31 | 4,009 |
237 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/31 | 254 |
2,893 | Federal Home Loan Mortgage Corp., 6.500%, 8/1/31 | 3,040 |
4,107 | Federal Home Loan Mortgage Corp., 6.500%, 7/1/32 | 4,394 |
43 | Federal Home Loan Mortgage Corp., 6.500%, 1/1/33 | 45 |
14,892 | Federal Home Loan Mortgage Corp., 6.500%, 10/1/33 | 16,164 |
1,191 | Federal Home Loan Mortgage Corp., 7.000%, 11/1/30 | 1,279 |
81,000,000 | Government National Mortgage Association, 2.500%, | |
| 7/20/52 (TBA) | 74,257,383 |
54,000,000 | Government National Mortgage Association, 3.000%, | |
| 7/20/52 (TBA) | 50,944,570 |
4,000,000 | Government National Mortgage Association, 3.500%, | |
| 7/20/52 (TBA) | 3,892,344 |
10,000,000 | Government National Mortgage Association, 4.000%, | |
| 7/20/52 (TBA) | 9,967,578 |
20,000,000 | Government National Mortgage Association, 4.500%, | |
| 7/20/52 (TBA) | 20,312,500 |
1,000,000 | Government National Mortgage Association, 5.000%, | |
| 7/20/52 (TBA) | 1,025,469 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 67
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
2,674,160 | Government National Mortgage Association I, | |
| 3.500%, 11/15/41 | $ 2,673,792 |
1,880,126 | Government National Mortgage Association I, | |
| 3.500%, 7/15/42 | 1,879,872 |
309,831 | Government National Mortgage Association I, | |
| 3.500%, 10/15/42 | 309,790 |
529,887 | Government National Mortgage Association I, | |
| 3.500%, 1/15/44 | 529,815 |
1,862,334 | Government National Mortgage Association I, | |
| 3.500%, 1/15/45 | 1,862,078 |
670,302 | Government National Mortgage Association I, | |
| 3.500%, 8/15/46 | 659,190 |
6,462 | Government National Mortgage Association I, | |
| 4.000%, 5/15/39 | 6,524 |
1,123 | Government National Mortgage Association I, | |
| 4.000%, 6/15/39 | 1,152 |
1,661 | Government National Mortgage Association I, | |
| 4.000%, 8/15/40 | 1,696 |
123,929 | Government National Mortgage Association I, | |
| 4.000%, 8/15/40 | 125,536 |
1,907 | Government National Mortgage Association I, | |
| 4.000%, 9/15/40 | 1,937 |
1,991 | Government National Mortgage Association I, | |
| 4.000%, 10/15/40 | 2,041 |
7,412 | Government National Mortgage Association I, | |
| 4.000%, 11/15/40 | 7,504 |
16,222 | Government National Mortgage Association I, | |
| 4.000%, 11/15/40 | 16,636 |
5,249 | Government National Mortgage Association I, | |
| 4.000%, 1/15/41 | 5,314 |
20,231 | Government National Mortgage Association I, | |
| 4.000%, 1/15/41 | 20,751 |
3,166 | Government National Mortgage Association I, | |
| 4.000%, 2/15/41 | 3,247 |
24,202 | Government National Mortgage Association I, | |
| 4.000%, 6/15/41 | 24,517 |
42,392 | Government National Mortgage Association I, | |
| 4.000%, 7/15/41 | 43,272 |
103,250 | Government National Mortgage Association I, | |
| 4.000%, 9/15/41 | 105,412 |
4,239 | Government National Mortgage Association I, | |
| 4.000%, 10/15/41 | 4,307 |
4,855 | Government National Mortgage Association I, | |
| 4.000%, 10/15/41 | 4,918 |
The accompanying notes are an integral part of these financial statements.
68 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
1,485 | Government National Mortgage Association I, | | |
| 4.000%, 11/15/41 | $ 1,508 |
1,286 | Government National Mortgage Association I, | | |
| 4.000%, 11/15/41 | | 1,294 |
1,503 | Government National Mortgage Association I, | | |
| 4.000%, 12/15/41 | | 1,533 |
12,569 | Government National Mortgage Association I, | | |
| 4.000%, 2/15/42 | | 12,758 |
253,800 | Government National Mortgage Association I, | | |
| 4.000%, 8/15/43 | | 258,548 |
8,061 | Government National Mortgage Association I, | | |
| 4.000%, 11/15/43 | | 8,165 |
216,046 | Government National Mortgage Association I, | | |
| 4.000%, 3/15/44 | | 220,567 |
853,203 | Government National Mortgage Association I, | | |
| 4.000%, 3/15/44 | | 870,835 |
21,983 | Government National Mortgage Association I, | | |
| 4.000%, 3/15/44 | | 22,270 |
2,928 | Government National Mortgage Association I, | | |
| 4.000%, 3/15/44 | | 2,981 |
544,864 | Government National Mortgage Association I, | | |
| 4.000%, 4/15/44 | | 551,592 |
3,007 | Government National Mortgage Association I, | | |
| 4.000%, 4/15/44 | | 3,033 |
5,934 | Government National Mortgage Association I, | | |
| 4.000%, 4/15/44 | | 6,020 |
77,815 | Government National Mortgage Association I, | | |
| 4.000%, 8/15/44 | | 79,271 |
614,598 | Government National Mortgage Association I, | | |
| 4.000%, 9/15/44 | | 627,350 |
37,037 | Government National Mortgage Association I, | | |
| 4.000%, 9/15/44 | | 37,282 |
55,231 | Government National Mortgage Association I, | | |
| 4.000%, 9/15/44 | | 55,910 |
15,991 | Government National Mortgage Association I, | | |
| 4.000%, 10/15/44 | | 16,160 |
131,015 | Government National Mortgage Association I, | | |
| 4.000%, 11/15/44 | | 132,736 |
516,741 | Government National Mortgage Association I, | | |
| 4.000%, 12/15/44 | | 528,141 |
174,850 | Government National Mortgage Association I, | | |
| 4.000%, 1/15/45 | | 179,320 |
352,968 | Government National Mortgage Association I, | | |
| 4.000%, 1/15/45 | | 355,286 |
128,263 | Government National Mortgage Association I, | | |
| 4.000%, 1/15/45 | | 129,111 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 69
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
364,210 | Government National Mortgage Association I, | |
| 4.000%, 2/15/45 | $ 368,686 |
453,216 | Government National Mortgage Association I, | |
| 4.000%, 2/15/45 | 458,789 |
962,842 | Government National Mortgage Association I, | |
| 4.000%, 3/15/45 | 985,803 |
715,674 | Government National Mortgage Association I, | |
| 4.000%, 4/15/45 | 730,476 |
806,069 | Government National Mortgage Association I, | |
| 4.000%, 5/15/45 | 818,941 |
1,184,834 | Government National Mortgage Association I, | |
| 4.000%, 6/15/45 | 1,214,944 |
157,383 | Government National Mortgage Association I, | |
| 4.000%, 7/15/45 | 161,407 |
210,237 | Government National Mortgage Association I, | |
| 4.000%, 8/15/45 | 213,594 |
35,675 | Government National Mortgage Association I, | |
| 4.500%, 6/15/25 | 36,446 |
19,355 | Government National Mortgage Association I, | |
| 4.500%, 7/15/33 | 20,043 |
58,021 | Government National Mortgage Association I, | |
| 4.500%, 9/15/33 | 60,209 |
70,926 | Government National Mortgage Association I, | |
| 4.500%, 10/15/33 | 73,489 |
48,831 | Government National Mortgage Association I, | |
| 4.500%, 10/15/33 | 50,380 |
7,672 | Government National Mortgage Association I, | |
| 4.500%, 2/15/34 | 7,924 |
5,885 | Government National Mortgage Association I, | |
| 4.500%, 3/15/35 | 6,066 |
71,715 | Government National Mortgage Association I, | |
| 4.500%, 4/15/35 | 73,966 |
33,711 | Government National Mortgage Association I, | |
| 4.500%, 10/15/35 | 34,947 |
27,845 | Government National Mortgage Association I, | |
| 4.500%, 4/15/38 | 28,700 |
258,050 | Government National Mortgage Association I, | |
| 4.500%, 12/15/39 | 265,618 |
125,361 | Government National Mortgage Association I, | |
| 4.500%, 1/15/40 | 130,877 |
61,917 | Government National Mortgage Association I, | |
| 4.500%, 9/15/40 | 64,712 |
179,652 | Government National Mortgage Association I, | |
| 4.500%, 10/15/40 | 187,188 |
The accompanying notes are an integral part of these financial statements.
70 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
102,616 | Government National Mortgage Association I, | |
| 4.500%, 4/15/41 | $ 105,705 |
286,398 | Government National Mortgage Association I, | |
| 4.500%, 5/15/41 | 298,043 |
167,115 | Government National Mortgage Association I, | |
| 4.500%, 6/15/41 | 173,418 |
110,395 | Government National Mortgage Association I, | |
| 4.500%, 7/15/41 | 114,853 |
86,041 | Government National Mortgage Association I, | |
| 4.500%, 8/15/41 | 88,888 |
26,299 | Government National Mortgage Association I, | |
| 5.000%, 7/15/33 | 27,456 |
24,760 | Government National Mortgage Association I, | |
| 5.000%, 9/15/33 | 26,159 |
28,207 | Government National Mortgage Association I, | |
| 5.000%, 4/15/34 | 29,811 |
163,166 | Government National Mortgage Association I, | |
| 5.000%, 4/15/35 | 172,400 |
58,244 | Government National Mortgage Association I, | |
| 5.000%, 7/15/40 | 61,548 |
31,104 | Government National Mortgage Association I, | |
| 5.500%, 1/15/29 | 32,539 |
3,551 | Government National Mortgage Association I, | |
| 5.500%, 6/15/33 | 3,722 |
21,827 | Government National Mortgage Association I, | |
| 5.500%, 7/15/33 | 23,672 |
13,760 | Government National Mortgage Association I, | |
| 5.500%, 7/15/33 | 14,491 |
7,079 | Government National Mortgage Association I, | |
| 5.500%, 8/15/33 | 7,718 |
35,659 | Government National Mortgage Association I, | |
| 5.500%, 8/15/33 | 37,568 |
11,394 | Government National Mortgage Association I, | |
| 5.500%, 8/15/33 | 12,433 |
21,524 | Government National Mortgage Association I, | |
| 5.500%, 9/15/33 | 22,533 |
25,256 | Government National Mortgage Association I, | |
| 5.500%, 9/15/33 | 26,483 |
16,843 | Government National Mortgage Association I, | |
| 5.500%, 10/15/33 | 17,627 |
21,889 | Government National Mortgage Association I, | |
| 5.500%, 10/15/33 | 23,740 |
105,285 | Government National Mortgage Association I, | |
| 5.500%, 7/15/34 | 114,141 |
15,594 | Government National Mortgage Association I, | |
| 5.500%, 10/15/34 | 16,455 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 71
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
134,270 | Government National Mortgage Association I, | |
| 5.500%, 11/15/34 | $ 146,708 |
62,964 | Government National Mortgage Association I, | |
| 5.500%, 1/15/35 | 67,565 |
10,925 | Government National Mortgage Association I, | |
| 5.500%, 2/15/35 | 11,563 |
31,014 | Government National Mortgage Association I, | |
| 5.500%, 2/15/35 | 32,465 |
25,434 | Government National Mortgage Association I, | |
| 5.500%, 6/15/35 | 26,615 |
123,376 | Government National Mortgage Association I, | |
| 5.500%, 7/15/35 | 133,270 |
15,647 | Government National Mortgage Association I, | |
| 5.500%, 10/15/35 | 16,793 |
45,827 | Government National Mortgage Association I, | |
| 5.500%, 10/15/35 | 49,139 |
13,693 | Government National Mortgage Association I, | |
| 5.500%, 2/15/37 | 14,997 |
21,791 | Government National Mortgage Association I, | |
| 6.000%, 12/15/23 | 22,154 |
1,551 | Government National Mortgage Association I, | |
| 6.000%, 1/15/24 | 1,630 |
10,916 | Government National Mortgage Association I, | |
| 6.000%, 4/15/28 | 11,817 |
52,627 | Government National Mortgage Association I, | |
| 6.000%, 9/15/28 | 55,541 |
2,465 | Government National Mortgage Association I, | |
| 6.000%, 10/15/28 | 2,602 |
20,419 | Government National Mortgage Association I, | |
| 6.000%, 2/15/29 | 21,538 |
17,439 | Government National Mortgage Association I, | |
| 6.000%, 2/15/29 | 18,724 |
7,635 | Government National Mortgage Association I, | |
| 6.000%, 11/15/31 | 8,280 |
490 | Government National Mortgage Association I, | |
| 6.000%, 3/15/32 | 525 |
2,065 | Government National Mortgage Association I, | |
| 6.000%, 8/15/32 | 2,222 |
4,722 | Government National Mortgage Association I, | |
| 6.000%, 9/15/32 | 4,969 |
68,062 | Government National Mortgage Association I, | |
| 6.000%, 9/15/32 | 71,693 |
55,785 | Government National Mortgage Association I, | |
| 6.000%, 9/15/32 | 58,760 |
The accompanying notes are an integral part of these financial statements.
72 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
4,830 | Government National Mortgage Association I, | | |
| 6.000%, 10/15/32 | $ 5,087 |
14,610 | Government National Mortgage Association I, | | |
| 6.000%, 10/15/32 | | 15,596 |
4,473 | Government National Mortgage Association I, | | |
| 6.000%, 11/15/32 | | 4,710 |
3,141 | Government National Mortgage Association I, | | |
| 6.000%, 11/15/32 | | 3,312 |
117,227 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 123,604 |
2,796 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 2,947 |
83,408 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 88,026 |
26,493 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 27,967 |
5,459 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 5,827 |
28,661 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 30,193 |
76,066 | Government National Mortgage Association I, | | |
| 6.000%, 12/15/32 | | 80,128 |
59,630 | Government National Mortgage Association I, | | |
| 6.000%, 1/15/33 | | 66,027 |
14,651 | Government National Mortgage Association I, | | |
| 6.000%, 1/15/33 | | 15,499 |
41,800 | Government National Mortgage Association I, | | |
| 6.000%, 2/15/33 | | 45,016 |
60,937 | Government National Mortgage Association I, | | |
| 6.000%, 2/15/33 | | 65,372 |
40,787 | Government National Mortgage Association I, | | |
| 6.000%, 2/15/33 | | 43,017 |
12,274 | Government National Mortgage Association I, | | |
| 6.000%, 2/15/33 | | 13,567 |
40,575 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 44,899 |
42,368 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 46,894 |
20,973 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 22,502 |
37,246 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 39,311 |
10,790 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 11,364 |
46,733 | Government National Mortgage Association I, | | |
| 6.000%, 3/15/33 | | 50,419 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 73
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
183,342 | Government National Mortgage Association I, | |
| 6.000%, 3/15/33 | $ 198,338 |
84,595 | Government National Mortgage Association I, | |
| 6.000%, 3/15/33 | 93,684 |
7,014 | Government National Mortgage Association I, | |
| 6.000%, 4/15/33 | 7,384 |
15,355 | Government National Mortgage Association I, | |
| 6.000%, 4/15/33 | 16,199 |
46,563 | Government National Mortgage Association I, | |
| 6.000%, 5/15/33 | 49,239 |
3,887 | Government National Mortgage Association I, | |
| 6.000%, 6/15/33 | 4,236 |
21,234 | Government National Mortgage Association I, | |
| 6.000%, 9/15/33 | 23,228 |
1,497 | Government National Mortgage Association I, | |
| 6.000%, 9/15/33 | 1,576 |
301 | Government National Mortgage Association I, | |
| 6.000%, 9/15/33 | 317 |
11,246 | Government National Mortgage Association I, | |
| 6.000%, 10/15/33 | 11,871 |
37,734 | Government National Mortgage Association I, | |
| 6.000%, 11/15/33 | 39,751 |
79,247 | Government National Mortgage Association I, | |
| 6.000%, 3/15/34 | 84,791 |
17,207 | Government National Mortgage Association I, | |
| 6.000%, 6/15/34 | 18,652 |
12,137 | Government National Mortgage Association I, | |
| 6.000%, 8/15/34 | 13,340 |
36,955 | Government National Mortgage Association I, | |
| 6.000%, 8/15/34 | 38,931 |
7,168 | Government National Mortgage Association I, | |
| 6.000%, 9/15/34 | 7,636 |
30,890 | Government National Mortgage Association I, | |
| 6.000%, 9/15/34 | 32,581 |
51,554 | Government National Mortgage Association I, | |
| 6.000%, 9/15/34 | 56,321 |
81,599 | Government National Mortgage Association I, | |
| 6.000%, 10/15/34 | 86,041 |
35,880 | Government National Mortgage Association I, | |
| 6.000%, 10/15/34 | 37,994 |
39,466 | Government National Mortgage Association I, | |
| 6.000%, 10/15/34 | 41,627 |
48,711 | Government National Mortgage Association I, | |
| 6.000%, 11/15/34 | 52,119 |
The accompanying notes are an integral part of these financial statements.
74 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
268,255 | Government National Mortgage Association I, | |
| 6.000%, 9/15/35 | $ 292,728 |
75,439 | Government National Mortgage Association I, | |
| 6.000%, 8/15/36 | 83,535 |
29,736 | Government National Mortgage Association I, | |
| 6.000%, 10/15/36 | 31,832 |
15,239 | Government National Mortgage Association I, | |
| 6.000%, 11/15/37 | 16,752 |
12,018 | Government National Mortgage Association I, | |
| 6.000%, 8/15/38 | 12,700 |
2,413 | Government National Mortgage Association I, | |
| 6.500%, 10/15/24 | 2,461 |
3,132 | Government National Mortgage Association I, | |
| 6.500%, 4/15/28 | 3,291 |
22,015 | Government National Mortgage Association I, | |
| 6.500%, 4/15/28 | 23,331 |
2,884 | Government National Mortgage Association I, | |
| 6.500%, 6/15/28 | 3,061 |
2,363 | Government National Mortgage Association I, | |
| 6.500%, 8/15/28 | 2,484 |
3,626 | Government National Mortgage Association I, | |
| 6.500%, 10/15/28 | 3,810 |
1,486 | Government National Mortgage Association I, | |
| 6.500%, 10/15/28 | 1,561 |
13,274 | Government National Mortgage Association I, | |
| 6.500%, 1/15/29 | 13,951 |
2,833 | Government National Mortgage Association I, | |
| 6.500%, 2/15/29 | 2,978 |
4,259 | Government National Mortgage Association I, | |
| 6.500%, 2/15/29 | 4,476 |
488 | Government National Mortgage Association I, | |
| 6.500%, 2/15/29 | 512 |
1,067 | Government National Mortgage Association I, | |
| 6.500%, 3/15/29 | 1,121 |
1,097 | Government National Mortgage Association I, | |
| 6.500%, 3/15/29 | 1,153 |
4,560 | Government National Mortgage Association I, | |
| 6.500%, 3/15/29 | 4,793 |
15,340 | Government National Mortgage Association I, | |
| 6.500%, 3/15/29 | 16,122 |
9,810 | Government National Mortgage Association I, | |
| 6.500%, 3/15/29 | 10,310 |
19,188 | Government National Mortgage Association I, | |
| 6.500%, 5/15/29 | 20,485 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 75
Schedule of Investments | 6/30/22 (continued)
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
673 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/29 | $ 707 |
600 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/29 | | 631 |
19,540 | Government National Mortgage Association I, | | |
| 6.500%, 4/15/31 | | 20,535 |
5,250 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/31 | | 5,682 |
28,433 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/31 | | 29,882 |
5,634 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/31 | | 6,070 |
3,580 | Government National Mortgage Association I, | | |
| 6.500%, 6/15/31 | | 3,762 |
9,677 | Government National Mortgage Association I, | | |
| 6.500%, 7/15/31 | | 10,170 |
19,641 | Government National Mortgage Association I, | | |
| 6.500%, 8/15/31 | | 20,642 |
8,286 | Government National Mortgage Association I, | | |
| 6.500%, 9/15/31 | | 8,708 |
3,139 | Government National Mortgage Association I, | | |
| 6.500%, 10/15/31 | | 3,299 |
26,344 | Government National Mortgage Association I, | | |
| 6.500%, 10/15/31 | | 27,686 |
3,049 | Government National Mortgage Association I, | | |
| 6.500%, 10/15/31 | | 3,204 |
2,121 | Government National Mortgage Association I, | | |
| 6.500%, 11/15/31 | | 2,229 |
32,910 | Government National Mortgage Association I, | | |
| 6.500%, 11/15/31 | | 35,180 |
46,853 | Government National Mortgage Association I, | | |
| 6.500%, 1/15/32 | | 49,650 |
9,995 | Government National Mortgage Association I, | | |
| 6.500%, 1/15/32 | | 10,505 |
7,477 | Government National Mortgage Association I, | | |
| 6.500%, 2/15/32 | | 8,025 |
12,636 | Government National Mortgage Association I, | | |
| 6.500%, 2/15/32 | | 13,581 |
2,388 | Government National Mortgage Association I, | | |
| 6.500%, 2/15/32 | | 2,509 |
6,337 | Government National Mortgage Association I, | | |
| 6.500%, 2/15/32 | | 6,676 |
15,124 | Government National Mortgage Association I, | | |
| 6.500%, 2/15/32 | | 15,895 |
The accompanying notes are an integral part of these financial statements.
76 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
7,283 | Government National Mortgage Association I, | | |
| 6.500%, 3/15/32 | $ 7,654 |
29,110 | Government National Mortgage Association I, | | |
| 6.500%, 3/15/32 | | 30,594 |
5,030 | Government National Mortgage Association I, | | |
| 6.500%, 4/15/32 | | 5,286 |
3,768 | Government National Mortgage Association I, | | |
| 6.500%, 4/15/32 | | 3,960 |
18,453 | Government National Mortgage Association I, | | |
| 6.500%, 4/15/32 | | 19,744 |
1,806 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/32 | | 1,898 |
2,213 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/32 | | 2,326 |
4,374 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/32 | | 4,677 |
1,702 | Government National Mortgage Association I, | | |
| 6.500%, 5/15/32 | | 1,789 |
5,569 | Government National Mortgage Association I, | | |
| 6.500%, 6/15/32 | | 5,853 |
5,318 | Government National Mortgage Association I, | | |
| 6.500%, 7/15/32 | | 5,589 |
54,891 | Government National Mortgage Association I, | | |
| 6.500%, 7/15/32 | | 59,488 |
6,745 | Government National Mortgage Association I, | | |
| 6.500%, 7/15/32 | | 7,089 |
14,689 | Government National Mortgage Association I, | | |
| 6.500%, 8/15/32 | | 15,764 |
25,566 | Government National Mortgage Association I, | | |
| 6.500%, 8/15/32 | | 26,869 |
2,925 | Government National Mortgage Association I, | | |
| 6.500%, 8/15/32 | | 3,079 |
21,216 | Government National Mortgage Association I, | | |
| 6.500%, 9/15/32 | | 22,413 |
10,463 | Government National Mortgage Association I, | | |
| 6.500%, 9/15/32 | | 11,166 |
28,155 | Government National Mortgage Association I, | | |
| 6.500%, 9/15/32 | | 29,590 |
14,615 | Government National Mortgage Association I, | | |
| 6.500%, 10/15/32 | | 15,360 |
20,881 | Government National Mortgage Association I, | | |
| 6.500%, 11/15/32 | | 22,665 |
110,115 | Government National Mortgage Association I, | | |
| 6.500%, 12/15/32 | | 119,163 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 77
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
119,482 | Government National Mortgage Association I, | |
| 6.500%, 1/15/33 | $ 129,918 |
1,169 | Government National Mortgage Association I, | |
| 6.500%, 1/15/33 | 1,248 |
15,396 | Government National Mortgage Association I, | |
| 6.500%, 5/15/33 | 16,181 |
693 | Government National Mortgage Association I, | |
| 6.500%, 10/15/33 | 728 |
89,230 | Government National Mortgage Association I, | |
| 6.500%, 6/15/34 | 93,966 |
30,145 | Government National Mortgage Association I, | |
| 6.500%, 4/15/35 | 31,681 |
5,211 | Government National Mortgage Association I, | |
| 6.500%, 6/15/35 | 5,610 |
14,692 | Government National Mortgage Association I, | |
| 6.500%, 7/15/35 | 15,711 |
53,143 | Government National Mortgage Association I, | |
| 6.500%, 7/15/35 | 55,851 |
1,952 | Government National Mortgage Association I, | |
| 7.000%, 8/15/23 | 1,970 |
7,762 | Government National Mortgage Association I, | |
| 7.000%, 9/15/24 | 7,901 |
2,414 | Government National Mortgage Association I, | |
| 7.000%, 7/15/25 | 2,452 |
1,776 | Government National Mortgage Association I, | |
| 7.000%, 11/15/26 | 1,849 |
4,139 | Government National Mortgage Association I, | |
| 7.000%, 6/15/27 | 4,329 |
4,558 | Government National Mortgage Association I, | |
| 7.000%, 1/15/28 | 4,732 |
3,425 | Government National Mortgage Association I, | |
| 7.000%, 2/15/28 | 3,451 |
3,051 | Government National Mortgage Association I, | |
| 7.000%, 4/15/28 | 3,058 |
5,397 | Government National Mortgage Association I, | |
| 7.000%, 7/15/28 | 5,610 |
402 | Government National Mortgage Association I, | |
| 7.000%, 8/15/28 | 424 |
5,195 | Government National Mortgage Association I, | |
| 7.000%, 11/15/28 | 5,568 |
16,024 | Government National Mortgage Association I, | |
| 7.000%, 11/15/28 | 17,077 |
14,868 | Government National Mortgage Association I, | |
| 7.000%, 4/15/29 | 15,059 |
The accompanying notes are an integral part of these financial statements.
78 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
13,509 | Government National Mortgage Association I, | | |
| 7.000%, 4/15/29 | $ 13,928 |
15,608 | Government National Mortgage Association I, | | |
| 7.000%, 5/15/29 | | 15,743 |
3,678 | Government National Mortgage Association I, | | |
| 7.000%, 7/15/29 | | 3,815 |
28,562 | Government National Mortgage Association I, | | |
| 7.000%, 11/15/29 | | 29,820 |
12,273 | Government National Mortgage Association I, | | |
| 7.000%, 12/15/30 | | 13,242 |
244 | Government National Mortgage Association I, | | |
| 7.000%, 12/15/30 | | 244 |
1,322 | Government National Mortgage Association I, | | |
| 7.000%, 12/15/30 | | 1,333 |
27,933 | Government National Mortgage Association I, | | |
| 7.000%, 12/15/30 | | 28,141 |
31,760 | Government National Mortgage Association I, | | |
| 7.000%, 1/15/31 | | 31,951 |
3,167 | Government National Mortgage Association I, | | |
| 7.000%, 3/15/31 | | 3,194 |
10,051 | Government National Mortgage Association I, | | |
| 7.000%, 6/15/31 | | 10,984 |
1,228 | Government National Mortgage Association I, | | |
| 7.000%, 7/15/31 | | 1,333 |
61,485 | Government National Mortgage Association I, | | |
| 7.000%, 8/15/31 | | 66,947 |
7,454 | Government National Mortgage Association I, | | |
| 7.000%, 9/15/31 | | 7,570 |
7,045 | Government National Mortgage Association I, | | |
| 7.000%, 9/15/31 | | 7,135 |
6,129 | Government National Mortgage Association I, | | |
| 7.000%, 11/15/31 | | 6,250 |
32,255 | Government National Mortgage Association I, | | |
| 7.000%, 3/15/32 | | 33,986 |
26,037 | Government National Mortgage Association I, | | |
| 7.000%, 4/15/32 | | 27,408 |
40,878 | Government National Mortgage Association I, | | |
| 7.000%, 5/15/32 | | 45,033 |
4,561 | Government National Mortgage Association I, | | |
| 7.500%, 10/15/23 | | 4,634 |
444 | Government National Mortgage Association I, | | |
| 7.500%, 6/15/24 | | 447 |
3,742 | Government National Mortgage Association I, | | |
| 7.500%, 8/15/25 | | 3,752 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 79
Schedule of Investments | 6/30/22 (continued)
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
893 | Government National Mortgage Association I, | |
| 7.500%, 9/15/25 | $ 921 |
2,903 | Government National Mortgage Association I, | |
| 7.500%, 2/15/27 | 2,932 |
10,672 | Government National Mortgage Association I, | |
| 7.500%, 3/15/27 | 11,261 |
18,472 | Government National Mortgage Association I, | |
| 7.500%, 10/15/27 | 19,331 |
9,434 | Government National Mortgage Association I, | |
| 7.500%, 6/15/29 | 9,930 |
4,565 | Government National Mortgage Association I, | |
| 7.500%, 8/15/29 | 4,577 |
7,762 | Government National Mortgage Association I, | |
| 7.500%, 9/15/29 | 7,783 |
11,867 | Government National Mortgage Association I, | |
| 7.500%, 2/15/31 | 12,080 |
10,711 | Government National Mortgage Association I, | |
| 7.500%, 2/15/31 | 10,741 |
4,774 | Government National Mortgage Association I, | |
| 7.500%, 3/15/31 | 4,851 |
11,607 | Government National Mortgage Association I, | |
| 7.500%, 12/15/31 | 11,849 |
1,592 | Government National Mortgage Association I, | |
| 7.750%, 2/15/30 | 1,601 |
148,425 | Government National Mortgage Association II, | |
| 3.500%, 3/20/45 | 145,648 |
267,626 | Government National Mortgage Association II, | |
| 3.500%, 4/20/45 | 264,783 |
549,312 | Government National Mortgage Association II, | |
| 3.500%, 4/20/45 | 542,655 |
171,849 | Government National Mortgage Association II, | |
| 3.500%, 4/20/45 | 169,765 |
640,016 | Government National Mortgage Association II, | |
| 3.500%, 3/20/46 | 633,195 |
1,964,569 | Government National Mortgage Association II, | |
| 4.000%, 7/20/44 | 1,982,636 |
77,349 | Government National Mortgage Association II, | |
| 4.000%, 9/20/44 | 78,056 |
474,932 | Government National Mortgage Association II, | |
| 4.000%, 10/20/44 | 479,300 |
1,430,468 | Government National Mortgage Association II, | |
| 4.000%, 10/20/46 | 1,443,628 |
933,531 | Government National Mortgage Association II, | |
| 4.000%, 2/20/48 | 938,745 |
The accompanying notes are an integral part of these financial statements.
80 Pioneer Bond Fund | Annual Report | 6/30/22
| | |
Principal | | |
Amount | | |
USD ($) | | Value |
| U.S. GOVERNMENT AND AGENCY | |
| OBLIGATIONS — (continued) | |
1,156,722 | Government National Mortgage Association II, | |
| 4.000%, 4/20/48 | $ 1,163,121 |
19,482 | Government National Mortgage Association II, | |
| 4.500%, 12/20/34 | 20,393 |
98,993 | Government National Mortgage Association II, | |
| 4.500%, 1/20/35 | 103,568 |
16,986 | Government National Mortgage Association II, | |
| 4.500%, 3/20/35 | 17,779 |
375,169 | Government National Mortgage Association II, | |
| 4.500%, 9/20/41 | 392,850 |
1,331,677 | Government National Mortgage Association II, | |
| 4.500%, 9/20/44 | 1,383,616 |
503,654 | Government National Mortgage Association II, | |
| 4.500%, 10/20/44 | 527,968 |
1,016,257 | Government National Mortgage Association II, | |
| 4.500%, 11/20/44 | 1,066,405 |
1,128,774 | Government National Mortgage Association II, | |
| 4.500%, 2/20/48 | 1,164,072 |
70,416 | Government National Mortgage Association II, | |
| 5.500%, 3/20/34 | 76,060 |
57,216 | Government National Mortgage Association II, | |
| 5.500%, 4/20/34 | 61,799 |
37,883 | Government National Mortgage Association II, | |
| 5.500%, 10/20/37 | 39,302 |
54,170 | Government National Mortgage Association II, | |
| 5.750%, 6/20/33 | 56,535 |
15,479 | Government National Mortgage Association II, | |
| 5.900%, 1/20/28 | 16,217 |
26,797 | Government National Mortgage Association II, | |
| 5.900%, 7/20/28 | 27,880 |
6,727 | Government National Mortgage Association II, | |
| 6.000%, 10/20/31 | 7,240 |
33,608 | Government National Mortgage Association II, | |
| 6.000%, 1/20/33 | 36,802 |
36,760 | Government National Mortgage Association II, | |
| 6.000%, 10/20/33 | 40,247 |
21,520 | Government National Mortgage Association II, | |
| 6.000%, 6/20/34 | 23,557 |
55,474 | Government National Mortgage Association II, | |
| 6.450%, 1/20/33 | 57,272 |
1,847 | Government National Mortgage Association II, | |
| 6.500%, 1/20/24 | 1,867 |
13,619 | Government National Mortgage Association II, | |
| 6.500%, 8/20/28 | 14,332 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 81
Schedule of Investments | 6/30/22 (continued)
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
670 | Government National Mortgage Association II, | | |
| 6.500%, 2/20/29 | $ 709 |
247 | Government National Mortgage Association II, | | |
| 6.500%, 3/20/29 | | 260 |
8,323 | Government National Mortgage Association II, | | |
| 6.500%, 4/20/29 | | 8,782 |
4,465 | Government National Mortgage Association II, | | |
| 6.500%, 4/20/31 | | 4,763 |
3,214 | Government National Mortgage Association II, | | |
| 6.500%, 6/20/31 | | 3,439 |
15,636 | Government National Mortgage Association II, | | |
| 6.500%, 10/20/32 | | 16,938 |
21,221 | Government National Mortgage Association II, | | |
| 6.500%, 3/20/34 | | 23,039 |
1,867 | Government National Mortgage Association II, | | |
| 7.000%, 5/20/26 | | 1,929 |
6,671 | Government National Mortgage Association II, | | |
| 7.000%, 8/20/27 | | 7,055 |
5,916 | Government National Mortgage Association II, | | |
| 7.000%, 6/20/28 | | 6,226 |
26,264 | Government National Mortgage Association II, | | |
| 7.000%, 11/20/28 | | 27,641 |
25,438 | Government National Mortgage Association II, | | |
| 7.000%, 1/20/29 | | 27,033 |
2,337 | Government National Mortgage Association II, | | |
| 7.000%, 2/20/29 | | 2,471 |
712 | Government National Mortgage Association II, | | |
| 7.000%, 12/20/30 | | 758 |
3,884 | Government National Mortgage Association II, | | |
| 7.000%, 1/20/31 | | 4,179 |
2,007 | Government National Mortgage Association II, | | |
| 7.000%, 3/20/31 | | 2,168 |
12,740 | Government National Mortgage Association II, | | |
| 7.000%, 7/20/31 | | 13,925 |
4,391 | Government National Mortgage Association II, | | |
| 7.000%, 11/20/31 | | 4,744 |
4,556 | Government National Mortgage Association II, | | |
| 7.500%, 5/20/30 | | 4,957 |
1,459 | Government National Mortgage Association II, | | |
| 7.500%, 6/20/30 | | 1,568 |
2,060 | Government National Mortgage Association II, | | |
| 7.500%, 7/20/30 | | 2,187 |
4,455 | Government National Mortgage Association II, | | |
| 7.500%, 8/20/30 | | 4,878 |
2,254 | Government National Mortgage Association II, | | |
| 7.500%, 12/20/30 | | 2,470 |
The accompanying notes are an integral part of these financial statements.
82 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Principal | | | |
Amount | | | |
USD ($) | | Value | |
| U.S. GOVERNMENT AND AGENCY | | |
| OBLIGATIONS — (continued) | | |
5 | Government National Mortgage Association II, | | |
| 8.000%, 5/20/25 | $ 5 |
725 | Government National Mortgage Association II, | | |
| 9.000%, 11/20/24 | | 727 |
222,500,000(e) | U.S. Treasury Bills, 7/5/22 | 222,471,200 |
250,000,000(e) | U.S. Treasury Bills, 7/7/22 | 249,969,322 |
15,000,000(e) | U.S. Treasury Bills, 7/12/22 | 14,995,417 |
130,000,000(e) | U.S. Treasury Bills, 7/19/22 | 129,931,018 |
151,000,000 | U.S. Treasury Bills, 7/26/22 | 150,890,223 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS |
| (Cost $2,251,202,123) | $2,223,206,133 |
| SHORT TERM INVESTMENTS — 4.3% of Net Assets | | |
| Repurchase Agreements — 0.6% | | |
6,400,000 | $6,400,000 Scotia Capital Inc., 1.50%, dated 6/30/22 plus | | |
| accrued interest on 7/1/22 collateralized by | | |
| $6,528,350 U.S. Treasury Bill, 12/22/22 | $ 6,400,000 |
5,000,000 | $5,000,000 RBC Dominion Securities Inc., 1.48%, dated | | |
| 6/30/22 plus accrued interest on 7/1/22 | | |
| collateralized by $5,100,274 U.S. Treasury Bill, 12/29/22 | 5,000,000 |
9,500,000 | $9,500,000 Toronto-Dominion Bank, 1.48%, dated | | |
| 6/30/22 plus accrued interest on 7/1/22 collateralized by | | |
| $9,690,084 U.S. Treasury Bond, 3.25%, 5/15/42 | 9,500,000 |
9,500,000 | $9,500,000 Toronto-Dominion Bank, 1.50%, dated | | |
| 6/30/22 plus accrued interest on 7/1/22 collateralized by | | |
| $9,690,000 Federal Home Loan Mortgage | | |
| Corporation, 4.50%, 3/1/49-6/1/52 | 9,500,000 |
| | $ 30,400,000 |
|
Shares | | | |
| Open-End Fund — 3.7% | | |
169,025,418(m) | Dreyfus Government Cash Management, Institutional | | |
| Shares, 1.35% | $ 169,025,418 |
| | $ 169,025,418 |
| TOTAL SHORT TERM INVESTMENTS | | |
| (Cost $199,425,418) | $ 199,425,418 |
| TOTAL INVESTMENTS IN UNAFFILIATED | | |
| ISSUERS — 119.9% | | |
| (Cost $5,899,207,794) | $5,505,553,065 |
| OTHER ASSETS AND LIABILITIES — (19.9)% | $ (914,664,099) |
| NET ASSETS — 100.0% | $4,590,888,966 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 83
Schedule of Investments | 6/30/22 (continued)
(TBA) | | “To Be Announced” Securities. |
CMT | | Constant Maturity Treasury Index. |
FREMF | | Freddie Mac Multifamily Fixed-Rate Mortgage Loans. |
FRESB | | Freddie Mac Multifamily Small Balance Certificates. |
ICE | | Intercontinental Exchange. |
LIBOR | | London Interbank Offered Rate. |
REIT | | Real Estate Investment Trust. |
REMICs | | Real Estate Mortgage Investment Conduits. |
SOFR | | Secured Overnight Financing Rate. |
SOFR30A | | Secured Overnight Financing Rate 30 Day Average. |
(144A) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At June 30, 2022, the value of these securities amounted to $1,992,795,415, or 43.4% of net assets. |
(a) | | Floating rate note. Coupon rate, reference index and spread shown at June 30, 2022. |
(b) | | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at June 30, 2022. |
(c) | | Security represents the interest-only portion payments on a pool of underlying mortgages or mortgage-backed securities. |
(d) | | Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date. The rate shown is the rate at June 30, 2022. |
(e) | | Security issued with a zero coupon. Income is recognized through accretion of discount. |
(f) | | Security is perpetual in nature and has no stated maturity date. |
(g) | | Securities purchased on a when-issued basis. Rates do not take effect until settlement date. |
(h) | | Consists of Revenue Bonds unless otherwise indicated. |
(i) | | Represents a General Obligation Bond. |
(j) | | Issued as participation notes. |
(k) | | Non-income producing security. |
(l) | | Issued as preference shares. |
(m) | | Rate periodically changes. Rate disclosed is the 7-day yield at June 30, 2022. |
* | | Senior secured floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR or SOFR, (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at June 30, 2022. |
† | | Amount rounds to less than 0.1%. |
+ | | Security is valued using significant unobservable inputs (Level 3). |
# | | Securities are restricted as to resale. |
The accompanying notes are an integral part of these financial statements.
84 Pioneer Bond Fund | Annual Report | 6/30/22
Restricted Securities | Acquisition date | Cost | Value |
Adare Re 2022 | 12/30/2021 | $ 1,006,000 | $ 1,030,275 |
Ailsa Re 2022 | 6/30/2022 | 1,208,550 | 1,208,549 |
Alturas Re 2019-1 | 12/20/2018 | 2,200 | 10,061 |
Alturas Re 2019-2 | 12/19/2018 | 34,018 | 11,532 |
Alturas Re 2019-3 | 6/26/2019 | 24,550 | 679 |
Alturas Re 2020-1A | 12/27/2019 | 285,668 | 8,970 |
Alturas Re 2020-1B | 1/1/2020 | 363,577 | 11,453 |
Alturas Re 2020-2 | 1/1/2020 | 540,698 | 152,720 |
Alturas Re 2020-3 | 8/3/2020 | — | — |
Alturas Re 2021-2 | 2/16/2021 | 206,902 | — |
Alturas Re 2021-3 | 8/16/2021 | 213,682 | 195,733 |
Alturas Re 2022-2 | 1/18/2022 | 3,752,400 | 3,908,125 |
Ballybunion Re 2020 | 12/31/2019 | 548,976 | 903,793 |
Ballybunion Re 2021-3 | 8/4/2021 | 2,250,000 | 2,281,500 |
Ballybunion Re 2022 | 3/9/2022 | 1,750,000 | 1,767,500 |
Bantry Re 2016 | 2/6/2019 | 120,900 | 120,900 |
Bantry Re 2019 | 2/1/2019 | — | 169,818 |
Bantry Re 2020 | 2/4/2020 | — | 310,864 |
Bantry Re 2021 | 1/11/2021 | 828,427 | 757,000 |
Bantry Re 2022 | 2/2/2022 | 4,171,573 | 4,315,316 |
Berwick Re 2018-1 | 1/10/2018 | 1,488,753 | 787,862 |
Berwick Re 2019-1 | 12/31/2018 | 870,105 | 870,167 |
Berwick Re 2020-1 | 9/24/2020 | — | 300 |
Berwick Re 2022 | 12/28/2021 | 4,500,000 | 4,633,168 |
Bonanza Re | 3/11/2022 | 250,000 | 246,525 |
Caelus Re V | 4/27/2017 | 100,000 | 75,000 |
Carnoustie Re 2020 | 7/16/2020 | 91,015 | 271,200 |
Carnoustie Re 2021 | 1/25/2021 | 62,107 | 87,865 |
Carnoustie Re 2022 | 1/20/2022 | 1,000,000 | 1,042,841 |
Commonwealth Re, Ltd. | 6/15/2022 | 1,000,000 | 999,000 |
Denning Re 2021 | 7/28/2021 | 1,956,584 | 2,003,334 |
Dingle Re 2020 | 2/13/2020 | — | 4,463 |
Eden Re II | 1/22/2019 | 6,926 | 150,180 |
Eden Re II | 12/23/2019 | 612,222 | 347,520 |
Eden Re II | 12/16/2019 | 210,000 | 113,190 |
Eden Re II | 12/14/2018 | 1,728 | 15,395 |
Eden Re II | 1/25/2021 | 2,250,000 | 1,874,250 |
Eden Re II | 1/21/2022 | 5,200,000 | 5,200,000 |
FloodSmart Re | 2/9/2021 | 759,375 | 701,550 |
FloodSmart Re | 2/16/2021 | 1,250,000 | 1,140,875 |
FloodSmart Re | 2/14/2022 | 2,000,000 | 1,924,000 |
Formby Re 2018 | 7/9/2018 | 90,889 | 134,263 |
Four Lakes Re | 12/15/2021 | 500,000 | 492,300 |
Gamboge Re 2022 | 4/11/2022 | 4,946,117 | 5,084,894 |
Gleneagles Re 2018 | 12/27/2017 | 80,273 | 118,300 |
Gleneagles Re 2020 | 6/16/2020 | 9,838 | 124,929 |
Gleneagles Re 2021 | 1/13/2021 | 300,732 | 277,857 |
Gleneagles Re 2022 | 1/18/2022 | 1,250,000 | 1,267,767 |
Gullane Re 2018 | 3/26/2018 | — | 131,133 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 85
Schedule of Investments | 6/30/22 (continued)
| | | |
Restricted Securities | Acquisition date | Cost | Value |
Gullane Re 2022 | 2/14/2022 | $ 6,000,000 | $ 6,223,274 |
Harambee Re 2018 | 12/19/2017 | 42,461 | — |
Harambee Re 2019 | 12/20/2018 | — | 14,000 |
Harambee Re 2020 | 2/27/2020 | 16,044 | 102,400 |
Herbie Re | 10/19/2020 | 500,000 | 504,250 |
Integrity Re, Ltd. | 5/9/2022 | 750,000 | 747,000 |
International Bank for | | | |
Reconstruction & Development | 2/28/2020 | 250,000 | 250,750 |
Kilimanjaro III Re, Ltd. | 6/15/2022 | 1,000,000 | 999,900 |
Limestone Re | 6/20/2018 | 1,101 | — |
Limestone Re | 12/15/2016 | 10,856 | — |
Limestone Re 2020-1 | 12/27/2019 | 7,100 | 47,854 |
Limestone Re 2020-1 | 12/15/2016 | 2,400 | 16,176 |
Lion Rock Re 2019 | 12/17/2018 | — | — |
Lion Rock Re 2020 | 3/27/2020 | — | — |
Lion Rock Re 2021 | 3/1/2021 | 323,829 | 214,250 |
Long Point Re IV, Ltd. | 5/13/2022 | 3,500,000 | 3,496,500 |
Lorenz Re 2019 | 6/26/2019 | 938,542 | 285,849 |
Lorenz Re 2020 | 8/11/2020 | 149,697 | 169,914 |
Lorenz Re 2020 | 8/12/2020 | 121,877 | 138,538 |
Matterhorn Re | 1/29/2020 | 1,248,368 | 1,125,000 |
Matterhorn Re | 12/15/2021 | 250,000 | 241,125 |
Matterhorn Re | 3/10/2022 | 2,000,000 | 1,952,000 |
Matterhorn Re | 3/10/2022 | 1,000,000 | 982,400 |
Merion Re 2018-2 | 12/28/2017 | 288,065 | 1,158,500 |
Merion Re 2021-2 | 12/28/2020 | 2,448,845 | 1,953,900 |
Merion Re 2022-1 | 1/25/2022 | 214,942 | 228,096 |
Merion Re 2022-2 | 3/1/2022 | 6,551,154 | 6,639,303 |
Northshore Re II, Ltd. | 6/22/2022 | 750,000 | 750,000 |
Oakmont Re 2017 | 5/10/2017 | — | 29,400 |
Oakmont Re 2020 | 12/3/2020 | 68,457 | 270,824 |
Oakmont Re 2022 | 5/9/2022 | 4,079,641 | 4,216,349 |
Old Head Re 2022 | 1/6/2022 | 188,289 | 218,912 |
Pangaea Re 2016-2 | 5/31/2016 | — | 5,350 |
Pangaea Re 2018-1 | 12/26/2017 | 543,427 | 80,007 |
Pangaea Re 2018-3 | 5/31/2018 | 1,565,597 | 134,832 |
Pangaea Re 2019-1 | 1/9/2019 | 42,174 | 83,704 |
Pangaea Re 2019-3 | 7/25/2019 | 143,386 | 171,924 |
Pangaea Re 2020-1 | 1/21/2020 | — | 84,354 |
Pangaea Re 2020-3 | 9/2/2020 | — | 70,391 |
Pangaea Re 2021-1 | 1/19/2021 | 272,754 | 144,254 |
Pangaea Re 2022-1 | 1/11/2022 | 4,727,246 | 4,916,336 |
Pangaea Re 2022-3 | 6/15/2022 | 2,750,000 | 2,777,500 |
Phoenician Re | 12/1/2021 | 1,000,000 | 966,500 |
Phoenix One Re | 12/21/2020 | 1,250,000 | 1,363,750 |
Pine Valley Re 2022 | 1/12/2022 | 911,513 | 956,890 |
Port Royal Re 2022 | 6/2/2022 | 483,420 | 485,088 |
Sanders Re II | 11/23/2021 | 2,754,375 | 2,712,875 |
Sector Re V | 12/4/2018 | 258,402 | 161,231 |
Sector Re V | 1/1/2020 | 99,999 | 284,746 |
The accompanying notes are an integral part of these financial statements.
86 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Restricted Securities | Acquisition date | Cost | Value |
Sector Re V | 12/14/2018 | $ 55,780 | $ 37,281 |
Sector Re V | 4/23/2019 | 600,000 | 449,904 |
Sector Re V | 5/1/2019 | 1,914 | 46,287 |
Sector Re V | 12/4/2019 | 200,000 | 569,499 |
Sector Re V | 4/29/2020 | 3,490 | 47,338 |
Sector Re V | 12/4/2020 | 3,326 | 167,243 |
Sector Re V | 12/21/2020 | 5,986 | 300,998 |
Sector Re V | 12/6/2021 | 500,000 | 511,458 |
Sector Re V | 1/5/2022 | 4,199,987 | 4,296,238 |
Shadow Creek Re 2021 | 8/31/2021 | — | 7,593 |
Streamsong Re 2022 | 6/9/2022 | 3,695,000 | 3,707,740 |
Sussex Re 2020-1 | 1/21/2020 | — | 26,712 |
Sussex Re 2021-1 | 1/26/2021 | 128,376 | 123,375 |
Sutter Re | 6/30/2022 | 1,734,250 | 1,748,425 |
Thopas Re 2019 | 12/21/2018 | — | 4,800 |
Thopas Re 2020 | 12/30/2019 | — | — |
Thopas Re 2021 | 12/30/2020 | — | — |
Thopas Re 2022 | 2/15/2022 | 4,000,000 | 4,135,200 |
Torricelli Re 2021 | 7/2/2021 | 4,228,426 | 4,258,448 |
Vermillion Re 2022 | 2/22/2022 | 2,866,500 | 2,933,445 |
Versutus Re 2018 | 1/31/2018 | — | 2,200 |
Versutus Re 2019-A | 1/28/2019 | — | 7,590 |
Versutus Re 2019-B | 12/24/2018 | — | 5,205 |
Viribus Re 2018 | 12/22/2017 | 78,899 | — |
Viribus Re 2019 | 12/27/2018 | — | 48,910 |
Viribus Re 2020 | 3/12/2020 | 421,904 | 182,141 |
Viribus Re 2022 | 4/18/2022 | 3,000,000 | 3,376,800 |
Vitality Re X | 2/3/2020 | 2,499,440 | 2,481,000 |
Vitality Re XI | 1/31/2020 | 996,617 | 975,500 |
Walton Health Re 2018 | 6/25/2018 | 353,440 | 44,047 |
Walton Health Re 2019 | 7/18/2019 | 213,922 | 292,110 |
Woburn Re 2018 | 3/20/2018 | 540,666 | 85,359 |
Woburn Re 2019 | 1/30/2019 | 889,700 | 1,061,857 |
Total Restricted Securities | | | $127,595,815 |
% of Net assets | | | 2.8% |
| | | | | |
FUTURES CONTRACTS | | | | |
FIXED INCOME INDEX FUTURES CONTRACTS | | |
Number of | | | | |
Contracts | | Expiration | Notional | | Unrealized |
Long | Description | Date | Amount | Market Value | (Depreciation) |
528 | U.S. 2 Year | 9/30/22 | $111,517,863 | $110,888,250 | $ (629,613) |
| Note (CBT) | | | | |
3,681 | U.S. 5 Year | 9/30/22 | 417,032,755 | 413,192,250 | (3,840,505) |
| Note (CBT) | | | | |
2,133 | U.S. Ultra | 9/21/22 | 336,193,083 | 329,215,219 | (6,977,864) |
| Bond (CBT) | | | | |
| | | $864,743,701 | $853,295,719 | $(11,447,982) |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 87
Schedule of Investments | 6/30/22 (continued)
| | | | | |
Number of | | | | | Unrealized |
Contracts | | Expiration | Notional | | Appreciation |
Short | Description | Date | Amount | Market Value | (Depreciation) |
817 | U.S. 10 Year | 9/21/22 | $ (97,988,281) | $ (96,840,031) | $ 1,148,250 |
| Note (CBT) | | | | |
1,831 | U.S. 10 Year | 9/21/22 | (236,631,885) | (233,223,625) | 3,408,260 |
| Ultra Bond | | | | |
| (CBT) | | | | |
85 | U.S. Long | 9/21/22 | (11,242,247) | (11,783,125) | (540,878) |
| Bond (CBT) | | | | |
| | | $ (345,862,413) | $ (341,846,781) | $ 4,015,632 |
TOTAL FUTURES CONTRACTS | $ 518,881,288 | $ 511,448,938 | $(7,432,350) |
SWAP CONTRACTS
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS – BUY PROTECTION
| | | | | | | |
| | | Annual | | | | |
Notional | Reference | Pay/ | Fixed | Expiration | Premiums | Unrealized | Market |
Amount ($)(1) | Obligation/Index | Receive(2) | Rate | Date | (Paid) | Appreciation | Value |
574,160,400 | Markit CDX North | Pay | 5.00% | 6/20/27 | $(4,206,496) | $20,002,287 | $15,795,791 |
| America High Yield | | | | | | |
| Index Series 38 | | | | | | |
TOTAL CENTRALLY CLEARED CREDIT | | | | | | |
DEFAULT SWAP CONTRACTS — BUY PROTECTION | | $(4,206,496) | $20,002,287 | $15,795,791 |
TOTAL SWAP CONTRACTS | | | | $(4,206,496) | $20,002,287 | $15,795,791 |
(1) | | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event. |
Purchases and sales of securities (excluding short-term investments and in-kind redemptions) for the year ended June 30, 2022 were as follows:
| Purchases | Sales |
Long-Term U.S. Government Securities | $ 251,726,805 | $ 575,989,199 |
Other Long-Term Securities | $2,845,742,348 | $2,582,889,261 |
The Fund is permitted to engage in purchase and sale transactions (“cross trades”) with certain funds and accounts for which Amundi Asset Management US, Inc. (the “Adviser”) serves as the Fund’s investment adviser, as set forth in Rule 17a-7 under the Investment Company Act of 1940, pursuant to procedures adopted by the Board of Trustees. Under these procedures, cross trades are effected at current market prices. During the year ended June 30, 2022, the Fund engaged in purchases of $14,092,796. During the year ended June 30, 2022, the Fund did not engage in sales pursuant to these procedures.
The accompanying notes are an integral part of these financial statements.
88 Pioneer Bond Fund | Annual Report | 6/30/22
At June 30, 2022, the net unrealized depreciation on investments based on cost for federal tax purposes of $5,921,969,913 was as follows:
Aggregate gross unrealized appreciation for all investments in which | |
there is an excess of value over tax cost | $ 44,775,250 |
|
Aggregate gross unrealized depreciation for all investments in which | |
there is an excess of tax cost over value | (452,828,657) |
|
Net unrealized depreciation | $(408,053,407) |
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels below.
Level 1 | | – unadjusted quoted prices in active markets for identical securities. |
Level 2 | | – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). See Notes to Financial Statements —Note 1A. |
Level 3 | | – significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments). See Notes to Financial Statements — Note 1A. |
The following is a summary of the inputs used as of June 30, 2022, in valuing the Fund’s investments:
| | | | |
| Level 1 | Level 2 | Level 3 | Total |
Senior Secured Floating | | | | |
Rate Loan Interests | $ — | $ 20,584,664 | $ — | $ 20,584,664 |
Asset Backed Securities | — | 376,712,228 | — | 376,712,228 |
Collateralized Mortgage | | | | |
Obligations | — | 794,963,198 | — | 794,963,198 |
Commercial Mortgage-Backed | | | | |
Securities | — | 381,755,978 | — | 381,755,978 |
Corporate Bonds | — | 1,264,057,023 | — | 1,264,057,023 |
Convertible Preferred Stocks | 68,125,460 | — | — | 68,125,460 |
Municipal Bonds | — | 39,504,858 | — | 39,504,858 |
Insurance-Linked Securities | | | | |
Collateralized Reinsurance | | | | |
Earthquakes – California | — | — | 1,030,275 | 1,030,275 |
Multiperil – Massachusetts | — | — | 3,211,883 | 3,211,883 |
Multiperil – U.S. | — | — | 5,442,344 | 5,442,344 |
Multiperil – Worldwide | — | — | 6,888,979 | 6,888,979 |
Windstorm – Florida | — | — | 134,263 | 134,263 |
Windstorm – U.S | — | — | 7,593 | 7,593 |
Windstorm – U.S. Regional | — | — | 4,516,573 | 4,516,573 |
Reinsurance Sidecars | | | | |
Multiperil – U.S. | — | — | 1,518,306 | 1,518,306 |
Multiperil – Worldwide | — | — | 72,691,939 | 72,691,939 |
Industry Loss Warranties | | | | |
Earthquakes - U.S. | — | — | 2,933,445 | 2,933,445 |
Windstorm – U.S. Regional | — | — | 3,707,740 | 3,707,740 |
All Other Insurance-Linked | | | | |
Securities | — | 25,512,475 | — | 25,512,475 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 89
Schedule of Investments | 6/30/22 (continued)
| | | | |
| Level 1 | Level 2 | Level 3 | Total |
Foreign Government Bond | $ — | $ 9,622,290 | $ — | $ 9,622,290 |
U.S. Government and Agency | | | | |
Obligations | — | 2,223,206,133 | — | 2,223,206,133 |
Repurchase Agreements | — | 30,400,000 | — | 30,400,000 |
Open-End Fund | 169,025,418 | — | — | 169,025,418 |
Total Investments | | | | |
in Securities | $ 237,150,878 | $5,166,318,847 | $102,083,340 | $5,505,553,065 |
Other Financial Instruments | | | | |
Net unrealized depreciation | | | | |
on futures contracts | $ (7,432,350) | $ — | $ — | $ (7,432,350) |
Swap contracts, at value | — | 15,795,791 | — | 15,795,791 |
Total Other | | | | |
Financial Instruments | $ (7,432,350) | $ 15,795,791 | $ — | $ 8,363,441 |
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
| |
| Insurance- |
| Linked |
| Securities |
Balance as of 6/30/21 | $ 112,928,295 |
Realized gain (loss)(1) | (1,132,416) |
Changed in unrealized appreciation (depreciation)(2) | (2,803,344) |
Return of capital | (58,327,844) |
Purchases | 86,075,458 |
Sales | (34,656,809) |
Transfers in to Level 3* | — |
Transfers out of Level 3* | — |
Balance as of 6/30/22 | $102,083,340 |
(1) | | Realized gain (loss) on these securities is included in the realized gain (loss) from investments on the Statement of Operations. |
(2) | | Unrealized appreciation (depreciation) on these securities is included in the change in unrealized appreciation (depreciation) from investments on the Statement of Operations. |
* | | Transfers are calculated on the beginning of period values. Transfers are calculated on the beginning of period values. For the year ended June 30, 2022, there were no transfers in or out of Level 3. |
| |
Net change in unrealized (depreciation) of Level 3 investments still held and | |
considered Level 3 at June 30, 2022: | $(2,480,324) |
The accompanying notes are an integral part of these financial statements.
90 Pioneer Bond Fund | Annual Report | 6/30/22
Statement of Assets and Liabilities | 6/30/22
ASSETS: | |
Investments in unaffiliated issuers, at value (cost $5,899,207,794) | $ 5,505,553,065 |
Cash | 5,215,911 |
Foreign currencies, at value (cost $18) | 18 |
Futures collateral | 22,116,151 |
Swaps collateral | 17,621,269 |
Variation margin for futures contracts | 4,901,526 |
Variation margin for centrally cleared swap contracts | 1,274,061 |
Swap contracts, at value (net premiums paid $4,206,496) | 15,795,791 |
Receivables — | |
Investment securities sold | 390,582,797 |
Fund shares sold | 7,384,635 |
Dividends | 146,450 |
Interest | 22,458,141 |
Other assets | 68,605 |
Total assets | $ 5,993,118,420 |
LIABILITIES: | |
Payables — | |
Investment securities purchased | $ 1,382,456,002 |
Fund shares repurchased | 16,617,169 |
Distributions | 1,035,683 |
Trustees’ fees | 11,714 |
Collateral due to broker for TBA Securities | 650,000 |
Due to affiliates | 325,245 |
Accrued expenses | 1,133,641 |
Total liabilities | $ 1,402,229,454 |
NET ASSETS: | |
Paid-in capital | $ 5,224,529,733 |
Distributable earnings (loss) | (633,640,767) |
Net assets | $ 4,590,888,966 |
NET ASSET VALUE PER SHARE: | |
No par value (unlimited number of shares authorized) | |
Class A (based on $625,833,734/72,736,414 shares) | $ 8.60 |
Class C (based on $21,371,171/2,512,591 shares) | $ 8.51 |
Class K (based on $1,540,982,878/179,274,608 shares) | $ 8.60 |
Class R (based on $172,124,694/19,828,969 shares) | $ 8.68 |
Class Y (based on $2,230,576,489/261,958,579 shares) | $ 8.51 |
MAXIMUM OFFERING PRICE PER SHARE: | |
Class A (based on $8.60 net asset value per share/100%-4.50% | |
maximum sales charge) | $ 9.01 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 91
Statement of Operations
FOR THE YEAR ENDED 6/30/22
| | |
INVESTMENT INCOME: | | |
Interest from unaffiliated issuers (net of foreign | | |
taxes withheld $18,745) | $ 148,004,696 | |
Dividends from unaffiliated issuers | 8,559,982 | |
Total Investment Income | | $ 156,564,678 |
EXPENSES: | | |
Management fees | $ 15,738,303 | |
Administrative expenses | 1,347,706 | |
Transfer agent fees | | |
Class A | 1,443,208 | |
Class C | 23,601 | |
Class K | 6,273 | |
Class R | 474,147 | |
Class Y | 2,894,426 | |
Distribution fees | | |
Class A | 1,859,588 | |
Class C | 285,597 | |
Class R | 980,618 | |
Shareowner communications expense | 165,846 | |
Custodian fees | 131,068 | |
Registration fees | 209,391 | |
Professional fees | 324,148 | |
Printing expense | 99,000 | |
Pricing fees | 90,978 | |
Trustees’ fees | 274,906 | |
Insurance expense | 4,186 | |
Miscellaneous | 265,977 | |
Total expenses | | $ 26,618,967 |
Net investment income | | $ 129,945,711 |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | |
Net realized gain (loss) on: | | |
Investments in unaffiliated issuers | $ (97,439,614) | |
In-kind redemption | (24,092,752) | |
Futures contracts | (80,220,577) | |
Swap contracts | 49,035,617 | |
Other assets and liabilities denominated in | | |
foreign currencies | (401,363) | $ (153,118,689) |
Change in net unrealized appreciation (depreciation) on: | | |
Investments in unaffiliated issuers | $ (581,022,376) | |
Futures contracts | (9,124,609) | |
Swap contracts | 20,346,626 | |
Other assets and liabilities denominated in | | |
foreign currencies | 103,781 | $ (569,696,578) |
Net realized and unrealized gain (loss) on investments | | $(722,815,267) |
Net decrease in net assets resulting from operations | | $(592,869,556) |
The accompanying notes are an integral part of these financial statements.
92 Pioneer Bond Fund | Annual Report | 6/30/22
Statement of Changes in Net Assets
| Year | Year |
| Ended | Ended |
| 6/30/22 | 6/30/21 |
FROM OPERATIONS: | | |
Net investment income (loss) | $ 129,945,711 | $ 151,061,213 |
Net realized gain (loss) on investments | (153,118,689) | 180,034,760 |
Change in net unrealized appreciation | | |
(depreciation) on investments | (569,696,578) | 45,822,184 |
Net increase (decrease) in net assets resulting | | |
from operations | $ (592,869,556) | $ 376,918,157 |
DISTRIBUTIONS TO SHAREOWNERS: | | |
Class A ($0.51 and $0.45 per share, respectively) | $ (39,380,638) | $ (40,455,616) |
Class C ($0.45 and $0.39 per share, respectively) | (1,358,899) | (1,898,838) |
Class K ($0.56 and $0.50 per share, respectively) | (116,418,664) | (95,007,203) |
Class R ($0.49 and $0.43 per share, respectively) | (9,594,836) | (8,452,428) |
Class Y ($0.55 and $0.49 per share, respectively) | (151,168,110) | (136,183,899) |
Total distributions to shareowners | $ (317,921,147) | $ (281,997,984) |
FROM FUND SHARE TRANSACTIONS: | | |
Net proceeds from sales of shares | $ 1,803,039,268 | $ 1,863,845,956 |
Reinvestment of distributions | 277,106,443 | 239,263,665 |
Cost of shares repurchased | (2,000,598,487) | (2,316,988,069) |
In-kind redemptions | (435,749,235) | — |
Net decrease in net assets resulting from | | |
Fund share transactions | $ (356,202,011) | $ (213,878,448) |
Net decrease in net assets | $(1,266,992,714) | $ (118,958,275) |
NET ASSETS: | | |
Beginning of year | $ 5,857,881,680 | $ 5,976,839,955 |
End of year | $ 4,590,888,966 | $ 5,857,881,680 |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 93
Statement of Changes in Net Assets
(continued)
| Year Ended | Year Ended | Year Ended | Year Ended |
| 6/30/22 | 6/30/22 | 6/30/21 | 6/30/21 |
| Shares | Amount | Shares | Amount |
Class A | | | | |
Shares sold | 13,578,207 | $ 129,550,585 | 24,788,446 | $ 251,589,494 |
Reinvestment of | | | | |
distributions | 3,140,666 | 30,387,955 | 3,042,384 | 30,881,683 |
Less shares | | | | |
repurchased | (26,002,339) | (249,150,989) | (42,016,210) | (426,624,016) |
Net decrease | (9,283,466) | $ (89,212,449) | (14,185,380) | $ (144,152,839) |
Class C | | | | |
Shares sold | 331,094 | $ 3,176,654 | 1,152,401 | $ 11,587,167 |
Reinvestment of | | | | |
distributions | 133,978 | 1,284,871 | 173,791 | 1,745,314 |
Less shares | | | | |
repurchased | (1,472,085) | (13,993,199) | (3,784,019) | (37,960,275) |
Net decrease | (1,007,013) | $ (9,531,674) | (2,457,827) | $ (24,627,794) |
Class K | | | | |
Shares sold | 90,802,425 | $ 873,907,041 | 68,751,584 | $ 696,010,514 |
Reinvestment of | | | | |
distributions | 10,478,293 | 101,133,283 | 7,976,053 | 80,906,765 |
Less shares | | | | |
repurchased | (68,418,693) | (645,495,421) | (73,297,035) | (742,978,320) |
In-kind redemptions | (49,292,900) | (435,749,235) | — | — |
Net increase | | | | |
(decrease) | (16,430,875) | $ (106,204,332) | 3,430,602 | $ 33,938,959 |
Class R | | | | |
Shares sold | 2,274,287 | $ 22,373,070 | 3,952,351 | $ 40,359,908 |
Reinvestment of | | | | |
distributions | 978,082 | 9,557,049 | 822,200 | 8,422,204 |
Less shares | | | | |
repurchased | (4,158,866) | (40,951,362) | (3,034,420) | (31,058,255) |
Net increase | | | | |
(decrease) | (906,497) | $ (9,021,243) | 1,740,131 | $ 17,723,857 |
Class Y | | | | |
Shares sold | 82,500,622 | $ 774,031,918 | 86,070,510 | $ 864,298,873 |
Reinvestment of | | | | |
distributions | 14,083,841 | 134,743,285 | 11,667,498 | 117,307,699 |
Less shares | | | | |
repurchased | (112,980,605) | (1,051,007,516) | (107,311,880) | (1,078,367,203) |
Net decrease | (16,396,142) | $ (142,232,313) | (9,573,872) | $ (96,760,631) |
The accompanying notes are an integral part of these financial statements.
94 Pioneer Bond Fund | Annual Report | 6/30/22
Financial Highlights
| | | | | |
| Year | Year | Year | Year | Year |
| Ended | Ended | Ended | Ended | Ended |
| 6/30/22 | 6/30/21 | 6/30/20 | 6/30/19 | 6/30/18 |
Class A | | | | | |
Net asset value, beginning of period | $ 10.14 | $ 9.98 | $ 9.79 | $ 9.45 | $ 9.71 |
Increase (decrease) from investment operations: | | | | | |
Net investment income (loss) (a) | $ 0.19 | $ 0.23 | $ 0.25 | $ 0.27 | $ 0.26 |
Net realized and unrealized gain (loss) on investments | (1.22) | 0.38 | 0.23 | 0.37 | (0.24) |
Net increase (decrease) from investment operations | $ (1.03) | $ 0.61 | $ 0.48 | $ 0.64 | $ 0.02 |
Distributions to shareowners: | | | | | |
Net investment income | $ (0.16) | $ (0.27) | $ (0.29) | $ (0.30) | $ (0.28) |
Net realized gain | (0.35) | (0.18) | — | — | — |
Total distributions | $ (0.51) | $ (0.45) | $ (0.29) | $ (0.30) | $ (0.28) |
Net increase (decrease) in net asset value | $ (1.54) | $ 0.16 | $ 0.19 | $ 0.34 | $ (0.26) |
Net asset value, end of period | $ 8.60 | $ 10.14 | $ 9.98 | $ 9.79 | $ 9.45 |
Total return (b) | (10.66)% | 6.26% | 5.01% | 6.93% | 0.14% |
Ratio of net expenses to average net assets | 0.79% | 0.82% | 0.82% | 0.85% | 0.85% |
Ratio of net investment income (loss) to average net assets | 2.02% | 2.26% | 2.58% | 2.88% | 2.71% |
Portfolio turnover rate | 72% | 59% | 71% | 52% | 45% |
Net assets, end of period (in thousands) | $625,834 | $831,595 | $960,460 | $979,874 | $ 1,081,121 |
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 | 0.79% | 0.82% | 0.82% | 0.87% | 0.96% |
Net investment income (loss) to average net assets | 2.02% | 2.26% | 2.58% | 2.86% | 2.60% |
(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. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 95
Financial Highlights (continued)
| | | | | |
| Year | Year | Year | Year | Year |
| Ended | Ended | Ended | Ended | Ended |
| 6/30/22 | 6/30/21 | 6/30/20 | 6/30/19 | 6/30/18 |
Class C | | | | | |
Net asset value, beginning of period | $ 10.03 | $ 9.87 | $ 9.68 | $ 9.35 | $ 9.60 |
Increase (decrease) from investment operations: | | | | | |
Net investment income (loss) (a) | $ 0.13 | $ 0.17 | $ 0.19 | $ 0.21 | $ 0.19 |
Net realized and unrealized gain (loss) on investments | (1.20) | 0.38 | 0.23 | 0.35 | (0.24) |
Net increase (decrease) from investment operations | $ (1.07) | $ 0.55 | $ 0.42 | $ 0.56 | $ (0.05) |
Distributions to shareowners: | | | | | |
Net investment income | $ (0.10) | $ (0.21) | $ (0.23) | $ (0.23) | $ (0.20) |
Net realized gain | (0.35) | (0.18) | — | — | — |
Total distributions | $ (0.45) | $ (0.39) | $ (0.23) | $ (0.23) | $ (0.20) |
Net increase (decrease) in net asset value | $ (1.52) | $ 0.16 | $ 0.19 | $ 0.33 | $ (0.25) |
Net asset value, end of period | $ 8.51 | $ 10.03 | $ 9.87 | $ 9.68 | $ 9.35 |
Total return (b) | (11.16)% | 5.63% | 4.38% | 6.10% | (0.52)% |
Ratio of net expenses to average net assets | 1.43% | 1.43% | 1.45% | 1.52% | 1.60% |
Ratio of net investment income (loss) to average net assets | 1.36% | 1.65% | 1.96% | 2.21% | 1.96% |
Portfolio turnover rate | 72% | 59% | 71% | 52% | 45% |
Net assets, end of period (in thousands) | $21,371 | $35,295 | $59,026 | $62,447 | $79,308 |
(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. |
The accompanying notes are an integral part of these financial statements.
96 Pioneer Bond Fund | Annual Report | 6/30/22
| | | | | |
| Year | Year | Year | Year | Year |
| Ended | Ended | Ended | Ended | Ended |
| 6/30/22 | 6/30/21 | 6/30/20 | 6/30/19 | 6/30/18 |
Class K | | | | | |
Net asset value, beginning of period | $ 10.13 | $ 9.98 | $ 9.78 | $ 9.45 | $ 9.71 |
Increase (decrease) from investment operations: | | | | | |
Net investment income (loss) (a) | $ 0.24 | $ 0.28 | $ 0.30 | $ 0.32 | $ 0.30 |
Net realized and unrealized gain (loss) on investments | (1.21) | 0.37 | 0.24 | 0.35 | (0.25) |
Net increase (decrease) from investment operations | $ (0.97) | $ 0.65 | $ 0.54 | $ 0.67 | $ 0.05 |
Distributions to shareowners: | | | | | |
Net investment income | $ (0.21) | $ (0.32) | $ (0.34) | $ (0.34) | $ (0.31) |
Net realized gain | (0.35) | (0.18) | — | — | — |
Total distributions | $ (0.56) | $ (0.50) | $ (0.34) | $ (0.34) | $ (0.31) |
Net increase (decrease) in net asset value | $ (1.53) | $ 0.15 | $ 0.20 | $ 0.33 | $ (0.26) |
Net asset value, end of period | $ 8.60 | $ 10.13 | $ 9.98 | $ 9.78 | $ 9.45 |
Total return (b) | (10.12)% | 6.66% | 5.65% | 7.28% | 0.54% |
Ratio of net expenses to average net assets | 0.33% | 0.34% | 0.34% | 0.37% | 0.46% |
Ratio of net investment income (loss) to average net assets | 2.46% | 2.73% | 3.08% | 3.37% | 3.11% |
Portfolio turnover rate | 72%(c) | 59% | 71% | 52% | 45% |
Net assets, end of period (in thousands) | $ 1,540,983 | $ 1,983,399 | $ 1,918,556 | $ 1,273,821 | $939,272 |
(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. |
(c) | | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 97
Financial Highlights (continued)
| | | | | |
| Year | Year | Year | Year | Year |
| Ended | Ended | Ended | Ended | Ended |
| 6/30/22 | 6/30/21 | 6/30/20 | 6/30/19 | 6/30/18 |
Class R | | | | | |
Net asset value, beginning of period | $ 10.23 | $ 10.07 | $ 9.88 | $ 9.54 | $ 9.80 |
Increase (decrease) from investment operations: | | | | | |
Net investment income (loss) (a) | $ 0.17 | $ 0.20 | $ 0.23 | $ 0.25 | $ 0.24 |
Net realized and unrealized gain (loss) on investments | (1.23) | 0.39 | 0.23 | 0.37 | (0.25) |
Net increase (decrease) from investment operations | $ (1.06) | $ 0.59 | $ 0.46 | $ 0.62 | $ (0.01) |
Distributions to shareowners: | | | | | |
Net investment income | $ (0.14) | $ (0.25) | $ (0.27) | $ (0.28) | $ (0.25) |
Net realized gain | (0.35) | (0.18) | — | — | — |
Total distributions | $ (0.49) | $ (0.43) | $ (0.27) | $ (0.28) | $ (0.25) |
Net increase (decrease) in net asset value | $ (1.55) | $ 0.16 | $ 0.19 | $ 0.34 | $ (0.26) |
Net asset value, end of period | $ 8.68 | $ 10.23 | $ 10.07 | $ 9.88 | $ 9.54 |
Total return (b) | (10.88)% | 5.97% | 4.76% | 6.62% | (0.08)% |
Ratio of net expenses to average net assets | 1.07% | 1.08% | 1.08% | 1.10% | 1.10% |
Ratio of net investment income (loss) to average net assets | 1.73% | 1.99% | 2.33% | 2.64% | 2.46% |
Portfolio turnover rate | 72% | 59% | 71% | 52% | 45% |
Net assets, end of period (in thousands) | $172,125 | $212,127 | $191,311 | $198,457 | $179,729 |
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 | 1.07% | 1.08% | 1.08% | 1.12% | 1.21% |
Net investment income (loss) to average net assets | 1.73% | 1.99% | 2.33% | 2.62% | 2.35% |
(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. |
The accompanying notes are an integral part of these financial statements.
98 Pioneer Bond Fund | Annual Report | 6/30/22
| Year | Year | Year | Year | Year |
| Ended | Ended | Ended | Ended | Ended |
| 6/30/22 | 6/30/21 | 6/30/20 | 6/30/19 | 6/30/18 |
Class Y | | | | | |
Net asset value, beginning of period | $ 10.04 | $ 9.89 | $ 9.70 | $ 9.36 | $ 9.62 |
Increase (decrease) from investment operations: | | | | | |
Net investment income (loss) (a) | $ 0.22 | $ 0.26 | $ 0.29 | $ 0.31 | $ 0.28 |
Net realized and unrealized gain (loss) on investments | (1.20) | 0.38 | 0.23 | 0.36 | (0.24) |
Net increase (decrease) from investment operations | $ (0.98) | $ 0.64 | $ 0.52 | $ 0.67 | $ 0.04 |
Distributions to shareowners: | | | | | |
Net investment income | $ (0.20) | $ (0.31) | $ (0.33) | $ (0.33) | $ (0.30) |
Net realized gain | (0.35) | (0.18) | — | — | — |
Total distributions | $ (0.55) | $ (0.49) | $ (0.33) | $ (0.33) | $ (0.30) |
Net increase (decrease) in net asset value | $ (1.53) | $ 0.15 | $ 0.19 | $ 0.34 | $ (0.26) |
Net asset value, end of period | $ 8.51 | $ 10.04 | $ 9.89 | $ 9.70 | $ 9.36 |
Total return (b) | (10.34)% | 6.58% | 5.44% | 7.30% | 0.40% |
Ratio of net expenses to average net assets | 0.44% | 0.45% | 0.45% | 0.49% | 0.58% |
Ratio of net investment income (loss) to average net assets | 2.36% | 2.62% | 2.96% | 3.26% | 2.98% |
Portfolio turnover rate | 72%(c) | 59% | 71% | 52% | 45% |
Net assets, end of period (in thousands) | $2,230,576 | $2,795,466 | $2,847,487 | $3,053,763 | $2,708,766 |
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 | 0.44% | 0.45% | 0.45% | 0.49% | 0.58% |
Net investment income (loss) to average net assets | 2.36% | 2.62% | 2.96% | 3.26% | 2.98% |
(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. |
(c) | | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/22 99
Notes to Financial Statements | 6/30/22
1. Organization and Significant Accounting Policies
Pioneer Bond Fund (the “Fund”) is a Delaware statutory trust. The Fund is registered under the Investment Company Act of 1940 as a diversified, open-end management investment company. The investment objective of the Fund is to seek current income consistent with preservation of capital.
The Fund offers five classes of shares designated as Class A, Class C, Class K, Class R and Class Y shares. Each class of shares represents an interest in the same portfolio of investments of the Fund and has identical rights (based on relative net asset values) to assets and liquidation proceeds. Share classes can bear different rates of class-specific fees and expenses, such as transfer agent and distribution fees. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different dividends from net investment income earned by each class. The Amended and Restated Declaration of Trust of the Fund gives the Board of Trustees the flexibility to specify either per-share voting or dollar-weighted voting when submitting matters for shareowner approval. Under per-share voting, each share of a class of the Fund is entitled to one vote. Under dollar-weighted voting, a shareowner’s voting power is determined not by the number of shares owned, but by the dollar value of the shares on the record date. Each share class has exclusive voting rights with respect to matters affecting only that class, including with respect to the distribution plan for that class. There is no distribution plan for Class K or Class Y shares.
Amundi Asset Management US, Inc., an indirect, wholly owned subsidiary of Amundi and Amundi’s wholly owned subsidiary, Amundi USA, Inc., serves as the Fund’s investment adviser (the “Adviser”). Amundi Distributor US, Inc., an affiliate of the Adviser, serves as the Fund’s distributor (the “Distributor”).
In March 2020, FASB issued an Accounting Standard Update, ASU 2020-04, Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the London Interbank Offered Rate (“LIBOR”) and other LIBOR-based reference rates at the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period from March 12, 2020 through December 31, 2023. Management is evaluating the impact of
100 Pioneer Bond Fund | Annual Report | 6/30/22
ASU 2020-04 on the Fund’s investments, derivatives, debt and other contracts, if applicable, that will undergo reference rate-related modifications as a result of the reference rate reform.
On August 19, 2022, the Fund will be required to comply with new regulations adopted by the SEC governing the use of derivatives by registered investment companies ("Rule 18f-4"). Rule 18f-4 permits funds to enter into derivatives transactions (as defined in the rule) and certain other transactions notwithstanding the restrictions on the issuance of “senior securities” under Section 18 of the 1940 Act. Rule 18f-4 requires a fund, to establish and maintain a comprehensive derivatives risk management program, appoint a derivatives risk manager and comply with a relative or absolute limit on fund leverage risk calculated based on value-at-risk (“VaR”), unless the fund uses derivatives in only a limited manner. Management anticipates Rule 18f-4 will not have a material impact on the Fund.
The Fund is an investment company and follows investment company accounting and reporting guidance under U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). U.S. GAAP requires the management of the Fund to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income, expenses and gain or loss on investments during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements:
A. Security Valuation
The net asset value of the Fund is computed once daily, on each day the New York Stock Exchange (“NYSE”) is open, as of the close of regular trading on the NYSE.
Fixed-income securities are valued by using prices supplied by independent pricing services, which consider such factors as market prices, market events, quotations from one or more brokers, Treasury spreads, yields, maturities and ratings, or may use a pricing matrix or other fair value methods or techniques to provide an estimated value of the security or instrument. A pricing matrix is a means of valuing a debt security on the basis of current market prices for other debt securities, historical trading patterns in the market for fixed-income securities and/or other factors. Non-U.S. debt securities that are listed on an exchange will be valued at the bid price obtained from an independent third party pricing service. When independent third party pricing services are unable to supply prices, or when prices or market quotations are considered to be unreliable, the value of that security may be determined using quotations from one or more broker-dealers.
Pioneer Bond Fund | Annual Report | 6/30/22 101
Loan interests are valued at the mean between the last available bid and asked prices from one or more brokers or dealers as obtained from Loan Pricing Corporation, an independent third party pricing service. If price information is not available from Loan Pricing Corporation, or if the price information is deemed to be unreliable, price information will be obtained from an alternative loan interest pricing service. If no reliable price quotes are available from either the primary or alternative pricing service, broker quotes will be solicited.
Event-linked bonds are valued at the bid price obtained from an independent third party pricing service. Other insurance-linked securities (including reinsurance sidecars, collateralized reinsurance and industry loss warranties) may be valued at the bid price obtained from an independent pricing service, or through a third party using a pricing matrix, insurance industry valuation models, or other fair value methods or techniques to provide an estimated value of the instrument.
Equity securities that have traded on an exchange are valued by using the last sale price on the principal exchange where they are traded. Equity securities that have not traded on the date of valuation, or securities for which sale prices are not available, generally are valued using the mean between the last bid and asked prices or, if both last bid and asked prices are not available, at the last quoted bid price. Last sale and bid and asked prices are provided by independent third party pricing services. In the case of equity securities not traded on an exchange, prices are typically determined by independent third party pricing services using a variety of techniques and methods.
The value of foreign securities is translated into U.S. dollars based on foreign currency exchange rate quotations supplied by a third party pricing source. Trading in non-U.S. equity securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund’s shares are determined as of such times. The Fund may use a fair value model developed by an independent pricing service to value non-U.S. equity securities.
Futures contracts are generally valued at the closing settlement price established by the exchange on which they are traded.
Swap contracts, including interest rate swaps, caps and floors (other than centrally cleared swap contracts), are valued at the dealer quotations obtained from reputable International Swap Dealers Association members. Centrally cleared swaps are valued at the daily settlement price provided by the central clearing counterparty.
102 Pioneer Bond Fund | Annual Report | 6/30/22
Repurchase agreements are valued at par. Cash may include overnight time deposits at approved financial institutions.
Shares of open-end registered investment companies (including money market mutual funds) are valued at such funds’ net asset value.
Securities or loan interests for which independent pricing services or broker-dealers are unable to supply prices or for which market prices and/or quotations are not readily available or are considered to be unreliable are valued by a fair valuation team comprised of certain personnel of the Adviser. The Adviser’s fair valuation team is responsible for monitoring developments that may impact fair valued securities.
At June 30, 2022, no securities were valued using fair value methods (other than securities valued using prices supplied by independent pricing services, broker-dealers or using a third party insurance industry valuation model).
Inputs used when applying fair value methods to value a security may include credit ratings, the financial condition of the company, current market conditions and comparable securities. The Fund may use fair value methods if it is determined that a significant event has occurred after the close of the exchange or market on which the security trades and prior to the determination of the Fund’s net asset value. Examples of a significant event might include political or economic news, corporate restructurings, natural disasters, terrorist activity or trading halts. Thus, the valuation of the Fund’s securities may differ significantly from exchange prices, and such differences could be material.
B. Investment Income and Transactions
Dividend income is recorded on the ex-dividend date, except that certain dividends from foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund becomes aware of the ex-dividend data in the exercise of reasonable diligence.
Interest income, including interest on income-bearing cash accounts, is recorded on the accrual basis. Dividend and interest income are reported net of unrecoverable foreign taxes withheld at the applicable country rates and net of income accrued on defaulted securities.
Interest and dividend income payable by delivery of additional shares is reclassified as PIK (payment-in-kind) income upon receipt and is included in interest and dividend income, respectively.
Principal amounts of mortgage-backed securities are adjusted for monthly paydowns. Premiums and discounts related to certain mortgage-backed securities are amortized or accreted in proportion to the monthly paydowns. All discounts/premiums on purchase prices of debt securities
Pioneer Bond Fund | Annual Report | 6/30/22 103
are accreted/amortized for financial reporting purposes over the life of the respective securities, and such accretion/amortization is included in interest income.
Security transactions are recorded as of trade date. Gains and losses on sales of investments are calculated on the identified cost method for both financial reporting and federal income tax purposes.
C. Foreign Currency Translation
The books and records of the Fund are maintained in U.S. dollars. Amounts denominated in foreign currencies are translated into U.S. dollars using current exchange rates.
Net realized gains and losses on foreign currency transactions, if any, represent, among other things, the net realized gains and losses on foreign currency exchange contracts, disposition of foreign currencies and the difference between the amount of income accrued and the U.S. dollars actually received. Further, the effects of changes in foreign currency exchange rates on investments are not segregated on the Statement of Operations from the effects of changes in the market prices of those securities, but are included with the net realized and unrealized gain or loss on investments.
D. Federal Income Taxes
It is the Fund’s policy to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its net taxable income and net realized capital gains, if any, to its shareowners. Therefore, no provision for federal income taxes is required. As of June 30, 2022, the Fund did not accrue any interest or penalties with respect to uncertain tax positions, which, if applicable, would be recorded as an income tax expense on the Statement of Operations. Tax returns filed within the prior three years remain subject to examination by federal and state tax authorities.
The amount and character of income and capital gain distributions to shareowners are determined in accordance with federal income tax rules, which may differ from U.S. GAAP. Distributions in excess of net investment income or net realized gains are temporary over distributions for financial statement purposes resulting from differences in the recognition or classification of income or distributions for financial statement and tax purposes. Capital accounts within the financial statements are adjusted for permanent book/tax differences to reflect tax character, but are not adjusted for temporary differences.
At June 30, 2022, the Fund reclassified $23,499,407 to increase distributable earnings and $23,499,407 to decrease paid-in capital to reflect permanent book/tax differences. These adjustments have no impact on net assets or the results of operations.
104 Pioneer Bond Fund | Annual Report | 6/30/22
At June 30, 2022, the Fund deferred $168,975,761 of late year short-term losses and $75,937,179 of late year long-term losses, which will be recognized by the Fund as occurring at the start of the next fiscal year ending June 30, 2023.
The tax character of distributions paid during the years ended June 30, 2022 and June 30, 2021, was as follows:
| | |
| 2022 | 2021 |
Distributions paid from: | | |
Ordinary income | $196,324,519 | $215,050,752 |
Long-term capital gains | 122,147,148 | 66,947,232 |
Total | $318,471,667 | $281,997,984 |
The following shows the components of distributable earnings (losses) on a federal income tax basis at June 30, 2022:
| |
| 2022 |
Distributable earnings/(losses): | |
Undistributed ordinary income | $ 20,361,263 |
Other book/tax temporary differences | (1,035,683) |
Net unrealized depreciation | (408,053,407) |
Qualified late year loss deferral | (244,912,940) |
Total | $(633,640,767) |
The difference between book basis and tax basis net unrealized depreciation is attributable to the tax deferral of losses on wash sales, adjustments relating to catastrophe bonds, swaps, the tax treatment of premium and amortization and the mark to market of futures contracts.
E. Fund Shares
The Fund records sales and repurchases of its shares as of trade date. The Distributor earned $24,363 in underwriting commissions on the sale of Class A shares during the year ended June 30, 2022.
F. Class Allocations
Income, common expenses and realized and unrealized gains and losses are calculated at the Fund level and allocated daily to each class of shares based on its respective percentage of adjusted net assets at the beginning of the day.
Distribution fees are calculated based on the average daily net asset value attributable to Class A, Class C and Class R shares of the Fund, respectively (see Note 5). Class K and Class Y shares do not pay distribution fees. All expenses and fees paid to the Fund’s transfer agent for its services are allocated among the classes of shares based on the number of accounts in each class and the ratable allocation of related out-of-pocket expenses (see Note 4).
Pioneer Bond Fund | Annual Report | 6/30/22 105
The Fund declares as daily dividends substantially all of its net investment income. All dividends are paid on a monthly basis. Short-term capital gain distributions, if any, may be declared with the daily dividends. Distributions to shareowners are recorded as of the ex-dividend date. Distributions paid by the Fund with respect to each class of shares are calculated in the same manner and at the same time, except that net investment income dividends to Class A, Class C and Class Y shares can reflect different transfer agent and distribution expense rates.
G. Risks
The value of securities held by the Fund may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political or regulatory conditions, recessions, the spread of infectious illness or other public health issues, inflation, changes in interest rates, armed conflict including Russia’s military invasion of Ukraine, sanctions against Russia, other nations or individuals or companies and possible countermeasures, lack of liquidity in the bond markets or adverse investor sentiment. In the past several years, financial markets have experienced increased volatility, depressed valuations, decreased liquidity and heightened uncertainty. These conditions may continue, recur, worsen or spread. Interest rates are very low, which means there is more risk that they may go up. The U.S. Federal Reserve has recently started to raise certain interest rates. A general rise in interest rates could adversely affect the price and liquidity of fixed-income securities and could also result in increased redemptions from the Fund. Rates of inflation have recently risen. The value of assets or income from an investment may be worth less in the future as inflation decreases the value of money. As inflation increases, the real value of the Fund’s assets can decline as can the value of the Fund’s distributions.
The global pandemic of the novel coronavirus respiratory disease designated COVID-19 has resulted in major disruption to economies and markets around the world, including the United States. Global financial markets have experienced extreme volatility and severe losses, and trading in many instruments has been disrupted. Liquidity for many instruments has been greatly reduced for periods of time. Some sectors of the economy and individual issuers have experienced particularly large losses. These circumstances may continue for an extended period of time, and may continue to affect adversely the value and liquidity of the Fund’s investments. Following Russia’s recent invasion of Ukraine, Russian securities have lost all, or nearly all, their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or conditions.
106 Pioneer Bond Fund | Annual Report | 6/30/22
Governments and central banks, including the U.S. Federal Reserve, have taken extraordinary and unprecedented actions to support local and global economies and the financial markets. These actions have resulted in significant expansion of public debt, including in the U.S. The consequences of high public debt, including its future impact on the economy and securities markets, may not be known for some time.
At times, the Fund’s investments may represent industries or industry sectors that are interrelated or have common risks, making the Fund more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors.
The Fund’s investments in foreign markets and countries with limited developing markets may subject the Fund to a greater degree of risk than investments in a developed market. These risks include disruptive political or economic conditions, military conflicts and sanctions, terrorism, sustained economic downturns, financial instability, less liquid trading markets, extreme price volatility, currency risks, reduction of government or central bank support, inadequate accounting standards, tariffs, tax disputes or other tax burdens, nationalization or expropriation of assets and the imposition of adverse governmental laws, arbitrary application of laws and regulations or lack of rule of law and investment and repatriation restrictions. Lack of information and less market regulation also may affect the value of these securities. Withholding and other non-U.S. taxes may decrease the Fund’s return. Non-U.S. issuers may be located in parts of the world that have historically been prone to natural disasters. 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.
The Fund may invest in REIT securities, the value of which can fall for a variety of reasons, such as declines in rental income, fluctuating interest rates, poor property management, environmental liabilities, uninsured damage, increased competition, or changes in real estate tax laws.
Russia launched a large-scale invasion of Ukraine on February 24, 2022. In response to the military action by Russia, various countries, including the U.S., the United Kingdom, and European Union issued broad-ranging economic sanctions against Russia and Belarus and certain companies and individuals. Since then, Russian securities have lost all, or nearly all, their market value, and many other issuers, securities and markets have been adversely affected. The United States and other countries may impose sanctions on other countries, companies and individuals in light of Russia’s military invasion. The extent and duration of the military action or future escalation of such hostilities, the extent and impact of existing and future
Pioneer Bond Fund | Annual Report | 6/30/22 107
sanctions, market disruptions and volatility, and the result of any diplomatic negotiations cannot be predicted. These and any related events could have a significant impact on the value and liquidity of certain Fund investments, on Fund performance and the value of an investment in the Fund, particularly with respect to securities and commodities, such as oil, natural gas and food commodities, as well as other sectors with exposure to Russian issuers or issuers in other countries affected by the invasion, and are likely to have collateral impacts on market sectors globally.
The Fund invests in below-investment-grade (high-yield) debt securities and preferred stocks. Some of these high-yield securities may be convertible into equity securities of the issuer. Debt securities rated below-investment-grade are commonly referred to as “junk bonds” and are considered speculative with respect to the issuer’s capacity to pay interest and repay principal. These securities involve greater risk of loss, are subject to greater price volatility, and may be less liquid and more difficult to value, especially during periods of economic uncertainty or change, than higher rated debt securities.
The Fund’s investments, payment obligations and financing terms may be based on floating rates, such as LIBOR (London Interbank Offered Rate). ICE Benchmark Administration, the administrator of LIBOR, ceased publication of most LIBOR settings on a representative basis at the end of 2021 and is expected to cease publication of a majority of U.S. dollar LIBOR settings on a representative basis after June 30, 2023. In addition, global regulators have announced that, with limited exceptions, no new LIBOR-based contracts should be entered into after 2021. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. Markets are developing in response to these new rates, but questions around liquidity in these rates and how to appropriately adjust these rates to eliminate any economic value transfer at the time of transition remain a significant concern. The effect of any changes to - or discontinuation of - LIBOR on the Fund will vary depending on, among other things, existing fallback provisions in individual contracts and whether, how, and when industry participants develop and widely adopt new reference rates and fallbacks for both legacy and new products and instruments. In March, 2022, the U.S. federal government enacted legislation to establish a process for replacing LIBOR in existing contracts that do not already provide for the use of a clearly defined or practicable replacement benchmark rate as described in the legislation. Generally speaking, for contracts that do not contain a fallback provision as described in the legislation, a benchmark replacement recommended by the Federal Reserve Board will effectively automatically replace the USD LIBOR benchmark in the contract after June 30, 2023. The recommended
108 Pioneer Bond Fund | Annual Report | 6/30/22
benchmark replacement will be based on the Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York, including any recommended spread adjustment and benchmark replacement conforming changes. The process of transitioning from LIBOR may involve, among other things, increased volatility or illiquidity in markets for instruments that rely on LIBOR. The transition may also result in a reduction in the value of certain LIBOR-based investments held by the Fund or reduce the effectiveness of related transactions such as hedges. Any such effects of the transition away from LIBOR, as well as other unforeseen effects, could result in losses for the Fund. Because the usefulness of LIBOR as a benchmark may deteriorate during the transition period, these effects could occur at any time.
With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security and related risks. While the Fund’s Adviser has established business continuity plans in the event of, and risk management systems to prevent, limit or mitigate, such cyber-attacks, there are inherent limitations in such plans and systems, including the possibility that certain risks have not been identified. Furthermore, the Fund cannot control the cybersecurity plans and systems put in place by service providers to the Fund such as the Fund’s custodian and accounting agent, and the Fund’s transfer agent. In addition, many beneficial owners of Fund shares hold them through accounts at broker-dealers, retirement platforms and other financial market participants over which neither the Fund nor the Adviser exercises control. Each of these may in turn rely on service providers to them, which are also subject to the risk of cyber-attacks. Cybersecurity failures or breaches at the Adviser or the Fund’s service providers or intermediaries have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its net asset value, impediments to trading, the inability of Fund shareowners to effect share purchases, redemptions or exchanges or receive distributions, loss of or unauthorized access to private shareowner information and violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, or additional compliance costs. Such costs and losses may not be covered under any insurance. In addition, maintaining vigilance against cyber-attacks may involve substantial costs over time, and system enhancements may themselves be subject to cyber-attacks.
The Fund’s prospectus contains unaudited information regarding the Fund’s principal risks. Please refer to that document when considering the Fund’s principal risks.
Pioneer Bond Fund | Annual Report | 6/30/22 109
H. Restricted Securities
Restricted Securities are subject to legal or contractual restrictions on resale. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933. Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933.
Disposal of restricted investments may involve negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Restricted investments held by the Fund at June 30, 2022 are listed in the Schedule of Investments.
I. Insurance-Linked Securities (“ILS”)
The Fund invests in ILS. The Fund could lose a portion or all of the principal it has invested in an ILS, and the right to additional interest or dividend payments with respect to the security, upon the occurrence of one or more trigger events, as defined within the terms of an insurance-linked security. Trigger events, generally, are hurricanes, earthquakes, or other natural events of a specific size or magnitude that occur in a designated geographic region during a specified time period, and/or that involve losses or other metrics that exceed a specific amount. There is no way to accurately predict whether a trigger event will occur, and accordingly, ILS carry significant risk. The Fund is entitled to receive principal, and interest and/or dividend payments so long as no trigger event occurs of the description and magnitude specified by the instrument. In addition to the specified trigger events, ILS may expose the Fund to other risks, including but not limited to issuer (credit) default, adverse regulatory or jurisdictional interpretations and adverse tax consequences.
The Fund’s investments in ILS may include event-linked bonds. ILS also may include special purpose vehicles (“SPVs”) or similar instruments structured to comprise a portion of a reinsurer’s catastrophe-oriented business, known as quota share instruments (sometimes referred to as reinsurance sidecars), or to provide reinsurance relating to specific risks to insurance or reinsurance companies through a collateralized instrument, known as collateralized reinsurance. Structured reinsurance investments also may include industry loss warranties (“ILWs”). A traditional ILW takes the form of a bilateral reinsurance contract, but there are also products that take the form of derivatives, collateralized structures, or exchange-traded instruments.
110 Pioneer Bond Fund | Annual Report | 6/30/22
J. Repurchase Agreements
Repurchase agreements are arrangements under which the Fund purchases securities from a broker-dealer or a bank, called the counterparty, upon the agreement of the counterparty to repurchase the securities from the Fund at a later date, and at a specific price, which is typically higher than the purchase price paid by the Fund. The securities purchased serve as the Fund’s collateral for the obligation of the counterparty to repurchase the securities. The value of the collateral, including accrued interest, is required to be equal to or in excess of the repurchase price. The collateral for all repurchase agreements is held in safekeeping in the customer-only account of the Fund’s custodian or a sub-custodian of the Fund. The Adviser is responsible for determining that the value of the collateral remains at least equal to the repurchase price. In the event of a default by the counterparty, the Fund is entitled to sell the securities, but the Fund may not be able to sell them for the price at which they were purchased, thus causing a loss to the Fund. Additionally, if the counterparty becomes insolvent, there is some risk that the Fund will not have a right to the securities, or the immediate right to sell the securities.
Open repurchase agreements at June 30, 2022, are disclosed in the Schedule of Investments.
K. Futures Contracts
The Fund may enter into futures transactions in order to attempt to hedge against changes in interest rates, securities prices and currency exchange rates or to seek to increase total return. Futures contracts are types of derivatives.
Subsequent payments for futures contracts (“variation margin”) are paid or received by the Fund, depending on the daily fluctuation in the value of the contracts, and are recorded by the Fund as unrealized appreciation or depreciation. Cash received from or paid to the broker related to previous margin movement is held in a segregated account at the broker and is recorded as either “Due from broker for futures” or “Due to broker for futures” on the Statement of Assets and Liabilities. When the contract is closed, the Fund realizes a gain or loss equal to the difference between the opening and closing value of the contract as well as any fluctuation in foreign currency exchange rates where applicable. Futures contracts are subject to market risk, interest rate risk and currency exchange rate risk. Changes in value of the contracts may not directly correlate to the changes in value of the underlying securities. With futures, there is reduced counterparty credit risk to the Fund since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.
Pioneer Bond Fund | Annual Report | 6/30/22 111
The average market value of futures contracts open during the year ended June 30, 2022, was $586,504,743. Open futures contracts outstanding at June 30, 2022, are listed in the Schedule of Investments.
L. Credit Default Swap Contracts
A credit default swap is a contract between a buyer of protection and a seller of protection against a pre-defined credit event or an underlying reference obligation, which may be a single security or a basket or index of securities. The Fund may buy or sell credit default swap contracts to seek to increase the Fund’s income, or to attempt to hedge the risk of default on portfolio securities. A credit default swap index is used to hedge risk or take a position on a basket of credit entities or indices.
As a seller of protection, the Fund would be required to pay the notional (or other agreed-upon) value of the referenced debt obligation to the counterparty in the event of a default by a U.S. or foreign corporate issuer of a debt obligation, which would likely result in a loss to the Fund. In return, the Fund would receive from the counterparty a periodic stream of payments during the term of the contract, provided that no event of default occurred. The maximum exposure of loss to the seller would be the notional value of the credit default swaps outstanding. If no default occurs, the Fund would keep the stream of payments and would have no payment obligation. The Fund may also buy credit default swap contracts in order to hedge against the risk of default of debt securities, in which case the Fund would function as the counterparty referenced above.
As a buyer of protection, the Fund makes an upfront or periodic payment to the protection seller in exchange for the right to receive a contingent payment. An upfront payment made by the Fund, as the protection buyer, is recorded within the “Swap contracts, at value” line item on the Statement of Assets and Liabilities. Periodic payments received or paid by the Fund are recorded as realized gains or losses on the Statement of Operations.
Credit default swap contracts are marked-to-market daily using valuations supplied by independent sources, and the change in value, if any, is recorded within the “Swap contracts, at value” line item on the Statement of Assets and Liabilities. Payments received or made as a result of a credit event or upon termination of the contract are recognized, net of the appropriate amount of the upfront payment, as realized gains or losses on the Statement of Operations.
Credit default swap contracts involving the sale of protection may involve greater risks than if the Fund had invested in the referenced debt instrument directly. Credit default swap contracts are subject to general
112 Pioneer Bond Fund | Annual Report | 6/30/22
market risk, liquidity risk, counterparty risk and credit risk. If the Fund is a protection buyer and no credit event occurs, it will lose its investment. If the Fund is a protection seller and a credit event occurs, the value of the referenced debt instrument received by the Fund, together with the periodic payments received, may be less than the amount the Fund pays to the protection buyer, resulting in a loss to the Fund. In addition, obligations under sell protection credit default swaps may be partially offset by net amounts received from settlement of buy protection credit default swaps entered into by the Fund for the same reference obligation with the same counterparty.
Certain swap contracts that are cleared through a central clearinghouse are referred to as centrally cleared swaps. All payments made or received by the Fund are pursuant to a centrally cleared swap contract with the central clearing party rather than the original counterparty. Upon entering into a centrally cleared swap contract, the Fund is required to make an initial margin deposit, either in cash or in securities. The daily change in value on open centrally cleared contracts is recorded as “Variation margin for centrally cleared swap contracts” on the Statement of Assets and Liabilities. Cash received from or paid to the broker related to previous margin movement is held in a segregated account at the broker and is recorded as either “Due from broker for swaps” or “Due to broker for swaps” on the Statement of Assets and Liabilities. The amount of cash deposited with a broker as collateral at June 30, 2022, is recorded as “Swaps collateral” on the Statement of Assets and Liabilities.
The average market value of credit default swap contracts open during the year ended June 30, 2022, was $(17,453,179). Open credit default swap contracts at June 30, 2022, are listed in the Schedule of Investments.
M. When-Issued Securities
Certain Funds may purchase and sell securities on a when-issued basis, including To Be Announced (“TBA”) securities. These transactions are made conditionally because a security, although authorized, has not yet been issued in the market. A commitment by a Fund is made regarding these transactions to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. A Fund may sell when-issued securities before they are delivered, which may result in a capital gain or loss. Risk may arise upon entering these contracts from the potential inability of a counterparty to meet the terms of their contracts, or if the issuer does not issue the securities due to political, economic, or other factors.
Pioneer Bond Fund | Annual Report | 6/30/22 113
2. Management Agreement
The Adviser manages the Fund’s portfolio. Management fees payable under the Fund’s Investment Management Agreement with the Adviser are calculated daily and paid monthly at the annual rate of 0.40% of the Fund’s average daily net assets up to $500 million, 0.35% of the next $500 million of the Fund’s average daily net assets, 0.30% of the next $1 billion of the Fund’s average daily net assets, 0.25% of the next $8 billion of the Fund’s average daily net assets, and 0.225% of the Fund’s average daily net assets over $10 billion. For the year ended June 30, 2022, the effective management fee (excluding waivers and/or assumption of expenses) was equivalent to 0.28% of the Fund’s average daily net assets.
In addition, under the management and administration agreements, certain other services and costs, including accounting, regulatory reporting and insurance premiums, are paid by the Fund as administrative reimbursements. Included in “Due to affiliates” reflected on the Statement of Assets and Liabilities is $303,694 in management fees, administrative costs and certain other reimbursements payable to the Adviser at June 30, 2022.
3. Compensation of Trustees and Officers
The Fund pays an annual fee to its Trustees. The Adviser reimburses the Fund for fees paid to the Interested Trustees. The Fund does not pay any salary or other compensation to its officers. For the year ended June 30, 2022, the Fund paid $274,906 in Trustees’ compensation, which is reflected on the Statement of Operations as Trustees’ fees. At June 30, 2022, the Fund had a payable for Trustees’ fees on its Statement of Assets and Liabilities of $11,714.
4. Transfer Agent
For the period from July 1, 2021 to November 21, 2021, DST Asset Manager Solutions, Inc. served as the transfer agent to the Fund at negotiated rates. Effective November 22, 2021, BNY Mellon Investment Servicing (US) Inc. serves as the transfer agent to the Fund at negotiated rates. BNY Mellon Investment Servicing (US) Inc. serves as the transfer agent to the Fund at negotiated rates. Transfer agent fees and payables shown on the Statement of Operations and the Statement of Assets and Liabilities, respectively, include sub-transfer agent expenses incurred through the Fund’s omnibus relationship contracts.
In addition, the Fund reimbursed the transfer agent for out-of-pocket expenses incurred by the transfer agent related to shareowner communications activities such as proxy and statement mailings, and outgoing phone calls. For the year ended June 30, 2022, such out-of-pocket expenses by class of shares were as follows:
114 Pioneer Bond Fund | Annual Report | 6/30/22
| |
Shareowner Communications: | |
Class A | $ 80,305 |
Class C | 5,257 |
Class K | 33,147 |
Class R | 1,926 |
Class Y | 45,211 |
Total | $165,846 |
5. Distribution and Service Plans
The Fund has adopted a distribution plan (the “Plan”) pursuant to Rule 12b-1 of the Investment Company Act of 1940 with respect to its Class A, Class C and Class R shares. Pursuant to the Plan, the Fund pays the Distributor 0.25% of the Fund’s average daily net assets attributable to Class A shares as compensation for personal services and/or account maintenance services or distribution services with regard to Class A shares. Pursuant to the Plan, the Fund also pays the Distributor 1.00% of the average daily net assets attributable to Class C shares. The fee for Class C shares consists of a 0.25% service fee and a 0.75% distribution fee paid as compensation for personal services and/or account maintenance services or distribution services with regard to Class C shares. Pursuant to the Plan, the Fund further pays the Distributor 0.50% of the average daily net assets attributable to Class R shares for distribution services. Included in “Due to affiliates” reflected on the Statement of Assets and Liabilities is $21,551 in distribution fees payable to the Distributor at June 30, 2022.
The Fund also has adopted a separate service plan for Class R shares (the “Service Plan”). The Service Plan authorizes the Fund to pay securities dealers, plan administrators or other service organizations that agree to provide certain services to retirement plans or plan participants holding shares of the Fund a service fee of up to 0.25% of the Fund’s average daily net assets attributable to Class R shares held by such plans.
In addition, redemptions of Class A and Class C shares may be subject to a contingent deferred sales charge (“CDSC”). A CDSC of 1.00% may be imposed on redemptions of certain net asset value purchases of Class A shares within 12 months of purchase. Redemptions of Class C shares within 12 months of purchase are subject to a CDSC of 1.00% based on the lower of cost or market value of shares being redeemed. Shares purchased as part of an exchange remain subject to any CDSC that applied to the original purchase of those shares. There is no CDSC for Class K, Class R and Class Y shares. Proceeds from the CDSCs are paid to the Distributor. For the year ended June 30, 2022, CDSCs in the amount of $9,618 were paid to the Distributor.
Pioneer Bond Fund | Annual Report | 6/30/22 115
6. Line of Credit Facility
The Fund, along with certain other funds in the Pioneer Family of Funds, participates in a committed, unsecured revolving line of credit (“credit facility”). Borrowings are used solely for temporary or emergency purposes. The Fund may borrow up to the lesser of the amount available under the credit facility or the limits set for borrowing by the Fund’s prospectus and the 1940 Act. Effective February 2, 2022, the Fund participates in a credit facility in the amount of $380 million. Prior to February 2, 2022, the Fund participated in a facility in the amount of $450 million. Under such credit facility, depending on the type of loan, interest on borrowings is payable at the London Interbank Offered Rate (“LIBOR”) plus a credit spread. The Fund also pays both an upfront fee and an annual commitment fee to participate in the credit facility. The upfront fee in the amount of 0.10% of the total credit facility and the commitment fee in the amount of 0.25% of the daily unused portion of each lender’s commitment are allocated among participating funds based on an allocation schedule set forth in the credit agreement. For the year ended June 30, 2022, the Fund had no borrowings under the credit facility.
7. Additional Disclosures about Derivative Instruments and Hedging Activities
The Fund’s use of derivatives may enhance or mitigate the Fund’s exposure to the following risks:
Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates.
Credit risk relates to the ability of the issuer of a financial instrument to make further principal or interest payments on an obligation or commitment that it has to the Fund.
Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in currency exchange rates.
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange rate risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Commodity risk relates to the risk that the value of a commodity or commodity index will fluctuate based on increases or decreases in the commodities market and factors specific to a particular industry or commodity.
116 Pioneer Bond Fund | Annual Report | 6/30/22
The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at June 30, 2022, was as follows:
| | | | | |
| | | Foreign | | |
Statement of Assets | Interest | Credit | Exchange | Equity | Commodity |
and Liabilities | Rate Risk | Risk | Rate Risk | Risk | Risk |
Assets | | | | | |
Swap contracts, | | | | | |
at value | $ — | $15,795,791 | $ — | $ — | $ — |
Total Value | $ — | $15,795,791 | $ — | $ — | $ — |
Liabilities | | | | | |
Net unrealized | | | | | |
depreciation on | | | | | |
futures contracts | $7,432,350 | $ — | $ — | $ — | $ — |
Total Value | $7,432,350 | $ — | $ — | $ — | $ — |
The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure at June 30, 2022 was as follows:
| | | Foreign | | |
Statement of | Interest | Credit | Exchange | Equity | Commodity |
Operations | Rate Risk | Risk | Rate Risk | Risk | Risk |
Net Realized Gain | | | | | |
(Loss) on | | | | | |
Futures contracts | $(80,220,577) | $ — | $ — | $ — | $ — |
Swap contracts | — | 49,035,617 | — | — | — |
Total Value | $(80,220,577) | $49,035,617 | $ — | $ — | $ — |
|
Change in Net | | | | | |
Unrealized | | | | | |
Appreciation | | | | | |
(Depreciation) on | | | | | |
Futures contracts | $ (9,124,609) | $ — | $ — | $ — | $ — |
Swap contracts | — | 20,346,626 | — | — | — |
Total Value | $ (9,124,609) | $20,346,626 | $ — | $ — | $ — |
8. In-Kind Redemption
In accordance with guidelines described in a Fund’s prospectus and in accordance with procedures adopted by the Board (the “In-Kind Redemption Procedures”), a Fund may distribute portfolio securities rather than cash as payment for a redemption of Fund shares (“in-kind redemption”). For financial reporting purposes, the Fund recognizes gains and losses on in-kind redemptions to the extent the value of the distributed securities on the date of redemption exceeds the cost of those securities. Gains and losses realized on in-kind redemptions are not recognized for tax purposes and are reclassified from undistributed realized gain/(loss) to paid-in capital. During
Pioneer Bond Fund | Annual Report | 6/30/22 117
the year ended June 30, 2022, the Fund recorded a redemption in-kind of portfolio securities and cash that was valued at $435,749,235. The in-kind redemption was effected through a pro-rata distribution of the securities and cash held by the Fund, with adjustments as permitted under the In-Kind Redemption Procedures, to the redeeming shareholder. The distribution of such securities and cash generated a realized gain of $24,092,752 for the Fund, which is reflected on the Statement of Operations.
9. Changes in Custodian and Sub-Administrator, and Transfer Agent
Effective November 22, 2021, The Bank of New York Mellon Corporation (“BNY Mellon”) serves as the Fund’s Custodian and Sub-Administrator.
Effective November 22, 2021, BNY Mellon Investment Servicing (US) Inc. serves as the Fund’s shareholder servicing and transfer agent.
118 Pioneer Bond Fund | Annual Report | 6/30/22
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and Shareholders of Pioneer Bond Fund:
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities of Pioneer Bond Fund (the “Fund”), including the schedule of investments, as of June 30, 2022, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of Pioneer Bond Fund at June 30, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and its financial highlights for each of the five years in the period then ended in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of the Fund’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.
Pioneer Bond Fund | Annual Report | 6/30/22 119
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of June 30, 2022, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the Pioneer family of funds since 2017.
Boston, Massachusetts
August 29, 2022
120 Pioneer Bond Fund | Annual Report | 6/30/22
Additional Information (unaudited)
Qualified interest income is exempt from nonresident alien (NRA) tax withholding. The percentage of the Fund’s ordinary income distributions derived from qualified interest income was 52%.
Pioneer Bond Fund | Annual Report | 6/30/22 121
Statement Regarding Liquidity Risk Management Program
As required by law, the Fund has adopted and implemented a liquidity risk management program (the “Program”) that is designed to assess and manage liquidity risk. Liquidity risk is the risk that the Fund could not meet requests to redeem its shares without significant dilution of remaining investors’ interests in the Fund. The Fund’s Board of Trustees designated a liquidity risk management committee (the “Committee”) consisting of employees of Amundi Asset Management US, Inc. (the “Adviser”) to administer the Program.
The Committee provided the Board of Trustees with a report that addressed the operation of the Program and assessed its adequacy and effectiveness of implementation (the “Report”). The Report covered the period from January 1, 2021 through December 31, 2021 (the “Reporting Period”).
The Report confirmed that, throughout the Reporting Period, the Committee had monitored the Fund’s portfolio liquidity and liquidity risk on an ongoing basis, as described in the Program and in Board reporting throughout the Reporting Period.
The Report discussed the Committee’s annual review of the Program, which addressed, among other things, the following elements of the Program:
The Committee reviewed the Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions. The Committee noted that the Fund’s investment strategy continues to be appropriate for an open-end fund, taking into account, among other things, whether and to what extent the Fund held less liquid and illiquid assets and the extent to which any such investments affected the Fund’s ability to meet redemption requests. In managing and reviewing the Fund’s liquidity risk, the Committee also considered the extent to which the Fund’s investment strategy involves a relatively concentrated portfolio or large positions in particular issuers, the extent to which the Fund uses borrowing for investment purposes, and the extent to which the Fund uses derivatives (including for hedging purposes). The Committee also reviewed the Fund’s short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions. In assessing the Fund’s cash flow projections, the Committee considered, among other factors, historical net redemption activity, redemption policies, ownership concentration, distribution channels, and the degree of certainty associated with the Fund’s short-term and long-
122 Pioneer Bond Fund | Annual Report | 6/30/22
term cash flow projections. The Committee also considered the Fund’s holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources, including, if applicable, the Fund’s participation in a credit facility, as components of the Fund’s ability to meet redemption requests. The Fund has adopted an in-kind redemption policy which may be utilized to meet larger redemption requests.
The Committee reviewed the Program’s liquidity classification methodology for categorizing the Fund’s investments into one of four liquidity buckets. In reviewing the Fund’s investments, the Committee considered, among other factors, whether trading varying portions of a position in a particular portfolio investment or asset class in sizes the Fund would reasonably anticipate trading, would be reasonably expected to significantly affect liquidity.
The Committee performed an analysis to determine whether the Fund is required to maintain a Highly Liquid Investment Minimum, and determined that no such minimum is required because the Fund primarily holds highly liquid investments.
The Report stated that the Committee concluded the Program operates adequately and effectively, in all material respects, to assess and manage the Fund’s liquidity risk throughout the Reporting Period.
Pioneer Bond Fund | Annual Report | 6/30/22 123
Trustees, Officers and Service Providers
Investment Adviser and Administrator
Amundi Asset Management US, Inc.
Custodian and Sub-Administrator
The Bank of New York Mellon Corporation
Independent Registered Public Accounting Firm
Ernst & Young LLP
Principal Underwriter
Amundi Distributor US, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Transfer Agent
BNY Mellon Investment Servicing (US) Inc.
Proxy Voting Policies and Procedures of the Fund are available without charge, upon request, by calling our toll free number (1-800-225-6292). Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is publicly available to shareowners at www.amundi.com/us. This information is also available on the Securities and Exchange Commission’s web site at www.sec.gov.
Trustees and Officers
The Fund's Trustees and officers are listed below, together with their principal occupations and other directorships they have held during at least the past five years. Trustees who are interested persons of the Fund within the meaning of the 1940 Act are referred to as Interested Trustees. Trustees who are not interested persons of the Fund are referred to as Independent Trustees. Each of the Trustees serves as a Trustee of each of the 49 U.S. registered investment portfolios for which Amundi US serves as investment adviser (the “Pioneer Funds”). The address for all Trustees and all officers of the Fund is 60 State Street, Boston, Massachusetts 02109.
The Statement of Additional Information of the Fund includes additional information about the Trustees and is available, without charge, upon request, by calling 1-800-225-6292.
124 Pioneer Bond Fund | Annual Report | 6/30/22
Independent Trustees
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Trustee |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Thomas J. Perna (71) | Trustee since 2006. | Private investor (2004 – 2008 and 2013 – present); Chairman (2008– | Director, Broadridge Financial |
Chairman of the Board | Serves until a successor | 2013) and Chief Executive Officer (2008 – 2012), Quadriserv, Inc. | Solutions, Inc. (investor |
and Trustee | trustee is elected or | (technology products for securities lending industry); and Senior | communications and securities |
| earlier retirement | Executive Vice President, The Bank of New York (financial and | processing provider for financial |
| or removal. | securities services) (1986 – 2004) | services industry) (2009 – present); |
| | | Director, Quadriserv, Inc. (2005 – |
| | | 2013); and Commissioner, New |
| | | Jersey State Civil Service |
| | | Commission (2011 – 2015) |
John E. Baumgardner, | Trustee since 2019. | Of Counsel (2019 – present), Partner (1983-2018), Sullivan & | Chairman, The Lakeville Journal |
Jr. (71)* | Serves until a successor | Cromwell LLP (law firm). | Company, LLC, (privately-held |
Trustee | trustee is elected or | | community newspaper group) |
| earlier retirement | | (2015-present) |
| or removal. | | |
Diane Durnin (65) | Trustee since 2019. | Managing Director - Head of Product Strategy and Development, | None |
Trustee | Serves until a successor | BNY Mellon Investment Management (investment management | |
| trustee is elected or | firm) (2012-2018); Vice Chairman – The Dreyfus Corporation (2005– | |
| earlier retirement | 2018): Executive Vice President Head of Product, BNY Mellon | |
| or removal. | Investment Management (2007-2012); Executive Director- Product | |
| | Strategy, Mellon Asset Management (2005-2007); Executive Vice | |
| | President Head of Products, Marketing and Client Service, Dreyfus | |
| | Corporation (investment management firm) (2000-2005); Senior | |
| | Vice President Strategic Product and Business Development, | |
| | Dreyfus Corporation (1994-2000) | |
* | | Mr. Baumgardner is Of Counsel to Sullivan & Cromwell LLP, which acts as counsel to the Independent Trustees of each Pioneer Fund. |
Pioneer Bond Fund | Annual Report | 6/30/22 125
Independent Trustees (continued)
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Trustee |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Benjamin M. Friedman (77) | Trustee since 2008. | William Joseph Maier Professor of Political Economy, Harvard | Trustee, Mellon Institutional Funds |
Trustee | Serves until a successor | University (1972 – present) | Investment Trust and Mellon |
| trustee is elected or | | Institutional Funds Master Portfolio |
| earlier retirement | | (oversaw 17 portfolios in fund |
| or removal. | | complex) (1989 - 2008) |
Craig C. MacKay (59) | Trustee since 2021. | Partner, England & Company, LLC (advisory firm) (2012 – present); | Board Member of Carver Bancorp, |
Trustee | Serves until a successor | Group Head – Leveraged Finance Distribution, Oppenheimer & | Inc. (holding company) and Carver |
| trustee is elected or | Company (investment bank) (2006 – 2012); Group Head – Private | Federal Savings Bank, NA (2017 – |
| earlier retirement | Finance & High Yield Capital Markets Origination, SunTrust Robinson | present); Advisory Council Member, |
| or removal. | Humphrey (investment bank) (2003 – 2006); and Founder and Chief | MasterShares ETF (2016 – 2017); |
| | Executive Officer, HNY Associates, LLC (investment bank) (1996 – 2003) | Advisory Council Member, The Deal |
| | | (financial market information |
| | | publisher) (2015 – 2016); Board Co- |
| | | Chairman and Chief Executive Officer, |
| | | Danis Transportation Company |
| | | (privately-owned commercial carrier) |
| | | (2000 – 2003); Board Member and |
| | | Chief Financial Officer, Customer |
| | | Access Resources (privately-owned |
| | | teleservices company) (1998 – 2000); |
| | | Board Member, Federation of |
| | | Protestant Welfare Agencies (human |
| | | services agency) (1993 – present); |
| | | and Board Treasurer, Harlem Dowling |
| | | Westside Center (foster care agency) |
| | | (1999 – 2018) |
126 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Trustee |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Lorraine H. Monchak (66) | Trustee since 2017. | Chief Investment Officer, 1199 SEIU Funds (healthcare workers union | None |
Trustee | (Advisory Trustee from | pension funds) (2001 – present); Vice President – International Investments | |
| 2014 - 2017). Serves | Group, American International Group, Inc. (insurance company) | |
| until a successor trustee | (1993 – 2001); Vice President – Corporate Finance and Treasury Group, | |
| is elected or earlier | Citibank, N.A. (1980 – 1986 and 1990 – 1993); Vice President – Asset/ | |
| retirement or removal. | Liability Management Group, Federal Farm Funding Corporation | |
| | (government-sponsored issuer of debt securities) (1988 – 1990); Mortgage | |
| | Strategies Group, Shearson Lehman Hutton, Inc. (investment bank) | |
| | (1987 – 1988); Mortgage Strategies Group, Drexel Burnham Lambert, Ltd. | |
| | (investment bank) (1986 – 1987) | |
Marguerite A. Piret (74) | Trustee since 1996. | Chief Financial Officer, American Ag Energy, Inc. (controlled environment | Director of New America High |
Trustee | Serves until a successor | and agriculture company) (2016 – present); President and Chief Executive | Income Fund, Inc. (closed-end |
| trustee is elected or | Officer, Metric Financial Inc. (formerly known as Newbury Piret Company) | investment company) (2004 – |
| earlier retirement | (investment banking firm) (1981 – 2019) | present); and Member, Board of |
| or removal. | | Governors, Investment Company |
| | | Institute (2000 – 2006). |
Pioneer Bond Fund | Annual Report | 6/30/22 127
Independent Trustees (continued)
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Trustee |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Fred J. Ricciardi (75) | Trustee since 2014. | Private investor (2020 – present); Consultant (investment company | None |
Trustee | Serves until a successor | services) (2012 – 2020); Executive Vice President, BNY Mellon (financial | |
| trustee is elected or | and investment company services) (1969 – 2012); Director, BNY | |
| earlier retirement | International Financing Corp. (financial services) (2002 – 2012); Director, | |
| or removal. | Mellon Overseas Investment Corp. (financial services) (2009 – 2012); | |
| | Director, Financial Models (technology) (2005-2007); Director, BNY | |
| | Hamilton Funds, Ireland (offshore investment companies) (2004-2007); | |
| | Chairman/Director, AIB/BNY Securities Services, Ltd., Ireland (financial | |
| | services) (1999-2006); Chairman, BNY Alternative Investment Services, | |
| | Inc. (financial services) (2005-2007) | |
128 Pioneer Bond Fund | Annual Report | 6/30/22
Interested Trustees
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Trustee |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Lisa M. Jones (60)** | Trustee since 2017. | Director, CEO and President of Amundi US, Inc. (investment | None |
Trustee, President and Chief | Serves until a successor | management firm) (since September 2014); Director, CEO and President of | |
Executive Officer | trustee is elected or | Amundi Asset Management US, Inc. (since September 2014); Director, | |
| earlier retirement | CEO and President of Amundi Distributor US, Inc. (since September 2014); | |
| or removal | Director, CEO and President of Amundi Asset Management US, Inc. (since | |
| | September 2014); Chair, Amundi US, Inc., Amundi Distributor US, Inc. and | |
| | Amundi Asset Management US, Inc. (September 2014 – 2018); Managing | |
| | Director, Morgan Stanley Investment Management (investment management | |
| | firm) (2010 – 2013); Director of Institutional Business, CEO of International, | |
| | Eaton Vance Management (investment management firm) (2005 – 2010); | |
| | Director of Amundi Holdings US, Inc. (since 2017) | |
Kenneth J. Taubes (64)** | Trustee since 2014. | Director and Executive Vice President (since 2008) and Chief Investment | None |
Trustee | Serves until a successor | Officer, U.S. (since 2010) of Amundi US, Inc. (investment management firm); | |
| trustee is elected or | Director and Executive Vice President and Chief Investment Officer, U.S. of | |
| earlier retirement | Amundi US (since 2008); Executive Vice President and Chief Investment | |
| or removal | Officer, U.S. of Amundi Asset Management US, Inc. (since 2009); Portfolio | |
| | Manager of Amundi US (since 1999); Director of Amundi Holdings US, Inc. | |
| | (since 2017) | |
** | | Ms. Jones and Mr. Taubes are Interested Trustees because they are officers or directors of the Fund’s investment adviser and certain of its affiliates. |
Pioneer Bond Fund | Annual Report | 6/30/22 129
Fund Officers
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Officer |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Christopher J. Kelley (57) | Since 2010. Serves at | Vice President and Associate General Counsel of Amundi US since | None |
Secretary and Chief | the discretion of | January 2008; Secretary and Chief Legal Officer of all of the Pioneer Funds | |
Legal Officer | the Board | since June 2010; Assistant Secretary of all of the Pioneer Funds from | |
| | September 2003 to May 2010; Vice President and Senior Counsel of | |
| | Amundi US from July 2002 to December 2007 | |
Thomas Reyes (59) | Since 2010. Serves at | Assistant General Counsel of Amundi US since May 2013 and Assistant | None |
Assistant Secretary | the discretion of | Secretary of all the Pioneer Funds since June 2010; Counsel of | |
| the Board | Amundi US from June 2007 to May 2013 | |
Anthony J. Koenig, Jr. (58) | Since 2021. Serves at | Senior Vice President – Fund Treasury of Amundi US; Treasurer of all of | None |
Treasurer and | the discretion of | the Pioneer Funds since May 2021; Assistant Treasurer of all of the | |
Chief Financial and | the Board | Pioneer Funds from January 2021 to May 2021; and Chief of Staff, | |
Accounting Officer | | US Investment Management of Amundi US from May 2008 to January 2021 | |
Luis I. Presutti (57) | Since 2000. Serves | Director – Fund Treasury of Amundi US since 1999; and Assistant | None |
Assistant Treasurer | at the discretion of | Treasurer of all of the Pioneer Funds since 1999 | |
| the Board | | |
Gary Sullivan (64) | Since 2002. Serves at | Senior Manager – Fund Treasury of Amundi US since 2012; and Assistant | None |
Assistant Treasurer | the discretion of | Treasurer of all of the Pioneer Funds since 2002 | |
| the Board | | |
Antonio Furtado (40) | Since 2020. Serves at | Fund Oversight Manager – Fund Treasury of Amundi US since 2020; | None |
Assistant Treasurer | the discretion of | Assistant Treasurer of all of the Pioneer Funds since 2020; | |
| the Board | and Senior Fund Treasury Analyst from 2012 - 2020 | |
130 Pioneer Bond Fund | Annual Report | 6/30/22
| | | |
Name, Age and Position | Term of Office and | Principal Occupation(s) During At Least | Other Directorships Held by Officer |
Held With the Fund | Length of Service | The Past Five Years | During At Least The Past Five Years |
Michael Melnick (51) | Since 2021. Serves at | Vice President - Deputy Fund Treasurer of Amundi US since May 2021; | None |
Assistant Treasurer | the discretion of | Assistant Treasurer of all of the Pioneer Funds since July 2021; Director | |
| the Board | of Regulatory Reporting of Amundi US from 2001 – 2021; and Director of | |
| | Tax of Amundi US from 2000 - 2001 | |
John Malone (51) | Since 2018. Serves at | Managing Director, Chief Compliance Officer of Amundi US Asset | None |
Chief Compliance Officer | the discretion of | Management; Amundi Asset Management US, Inc.; and the Pioneer Funds | |
| the Board | since September 2018; Chief Compliance Officer of Amundi Distributor US, | |
| | Inc. since January 2014. | |
Brandon Austin (50) | Since March 2022. | Director, Financial Security – Amundi Asset Management; Anti- Money | None |
Anti-Money | Serves at | Laundering Officer of all the Pioneer Funds since March 2022 Director of | |
Laundering Officer | the discretion of | Financial Security of Amundi US since July 2021; Vice President, Head of | |
| the Board | BSA, AML and OFAC, Deputy Compliance Manager, Crédit Agricole | |
| | Indosuez Wealth Management (investment management firm) (2013 – 2021) | |
Pioneer Bond Fund | Annual Report| 6/30/22 131
This page was intentionally left blank.
132 Pioneer Bond Fund | Annual Report | 6/30/22
How to Contact Amundi
We are pleased to offer a variety of convenient ways for you to contact us
for assistance or information.
Call us for: | |
Account Information, including existing accounts, | |
new accounts, prospectuses, applications | |
and service forms | 1-800-225-6292 |
FactFoneSM for automated fund yields, prices, | |
account information and transactions | 1-800-225-4321 |
Retirement plans information | 1-800-622-0176 |
Write to us: |
Amundi |
P.O. Box 9897 |
Providence, R.I. 02940-8097 |
| |
Our toll-free fax | 1-800-225-4240 |
|
Our internet e-mail address | us.askamundi@amundi.com/us |
(for general questions about Amundi only) | |
Visit our web site: www.amundi.com/us.
This report must be preceded or accompanied by a prospectus.
The Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the Commission’s web site at https://www.sec.gov.
Amundi Asset Management US, Inc.
60 State Street
Boston, MA 02109
www.amundi.com/us
Securities offered through Amundi Distributor US, Inc.,
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
© 2022 Amundi Asset Management US, Inc. 19398-16-0822
ITEM 2. CODE OF ETHICS.
(a) Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.
The registrant has adopted, as of the end of the period covered by this report, a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer and controller.
(b) For purposes of this Item, the term “code of ethics” means written standards that are reasonably designed to deter wrongdoing and to promote:
(1) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
(2) Full, fair, accurate, timely, and understandable disclosure in reports and documents that a registrant files with, or submits to, the Commission and in other public communications made by the registrant;
(3) Compliance with applicable governmental laws, rules, and regulations;
(4) The prompt internal reporting of violations of the code to an appropriate person or persons identified in the code; and
(5) Accountability for adherence to the code.
(c) The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 10(a), unless the registrant has elected to satisfy paragraph (f) of this Item by posting its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.
The registrant has made no amendments to the code of ethics during the period covered by this report.
(d) If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.
Not applicable.
(e) If the registrant intends to satisfy the disclosure requirement under paragraph (c) or (d) of this Item regarding an amendment to, or a waiver from, a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions and that relates to any element of the code of ethics definition
enumerated in paragraph (b) of this Item by posting such information on its Internet website, disclose the registrant’s Internet address and such intention.
Not applicable.
(f) The registrant must:
(1) File with the Commission, pursuant to Item 12(a)(1), a copy of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, as an exhibit to its annual report on this Form N-CSR (see attachment);
(2) Post the text of such code of ethics on its Internet website and disclose, in its most recent report on this Form N-CSR, its Internet address and the fact that it has posted such code of ethics on its Internet website; or
(3) Undertake in its most recent report on this Form N-CSR to provide to any person without charge, upon request, a copy of such code of ethics and explain the manner in which such request may be made. See Item 10(2)
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant’s board of trustees has determined that the registrant either:
(i) Has at least one audit committee financial expert serving on its audit committee; or
(ii) Does not have an audit committee financial expert serving on its audit committee.
The registrant’s Board of Trustees has determined that the registrant has at least one audit committee financial expert.
(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the board of trustees, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or
(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
Mr. Fred J. Ricciardi, an independent trustee, is such an audit committee financial expert.
(3) If the registrant provides the disclosure required by paragraph (a)(1) (ii) of this Item, it must explain why it does not have an audit committee financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption AUDIT FEES, the aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
The audit fees for the Fund were $72,240 payable to Ernst & Young LLP for the year ended June 30, 2022 and $67,200 for the year ended June 30, 2021.
(b) Disclose, under the caption AUDIT-RELATED FEES, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
There were no audit-related services in 2022 or 2021.
(c) Disclose, under the caption TAX FEES, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
The Fund paid aggregate non-audit fees to Ernst & Young LLP for tax services of $24,191 and $22,504 during the fiscal years ended June 30, 2022 and 2021, respectively.
(d) Disclose, under the caption ALL OTHER FEES, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
There were no other fees in 2022 or 2021.
(e) (1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
PIONEER FUNDS
APPROVAL OF AUDIT, AUDIT-RELATED, TAX AND OTHER SERVICES
PROVIDED BY THE INDEPENDENT AUDITOR
SECTION I - POLICY PURPOSE AND APPLICABILITY
The Pioneer Funds recognize the importance of maintaining the independence of their outside auditors. Maintaining independence is a shared responsibility involving Amundi Asset Management US, Inc., the audit committee and the independent auditors.
The Funds recognize that a Fund’s independent auditors: 1) possess knowledge of the Funds, 2) are able to incorporate certain services into the scope of the audit, thereby avoiding redundant work, cost and disruption of Fund personnel and processes, and 3) have expertise that has value to the Funds. As a result, there are situations where it is desirable to use the Fund’s independent auditors for services in addition to the annual audit and where the potential for conflicts of interests are minimal. Consequently, this policy, which is intended to comply with Rule 210.2-01(C)(7), sets forth guidelines and procedures to be followed by the Funds when retaining the independent audit firm to perform audit, audit-related tax and other services under those circumstances, while also maintaining independence.
Approval of a service in accordance with this policy for a Fund shall also constitute approval for any other Fund whose pre-approval is required pursuant to Rule 210.2-01(c)(7)(ii).
In addition to the procedures set forth in this policy, any non-audit services that may be provided consistently with Rule 210.2-01 may be approved by the Audit Committee itself and any pre-approval that may be waived in accordance with Rule 210.2-01(c)(7)(i)(C) is hereby waived.
Selection of a Fund’s independent auditors and their compensation shall be determined by the Audit Committee and shall not be subject to this policy.
SECTION II - POLICY |
|
SERVICE CATEGORY | SERVICE CATEGORY DESCRIPTION | SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES |
| | |
I. AUDIT SERVICES | Services that are directly | o Accounting research assistance |
| related to performing the | o SEC consultation, registration |
| independent audit of the Funds | statements, and reporting |
| | o Tax accrual related matters |
| | o Implementation of new accounting standards |
| | o Compliance letters (e.g. rating agency letters) |
| | o Regulatory reviews and assistance |
| | regarding financial matters |
| | o Semi-annual reviews (if requested) |
| | o Comfort letters for closed end offerings |
II. AUDIT-RELATED | Services which are not | o AICPA attest and agreed-upon procedures |
SERVICES | prohibited under Rule | o Technology control assessments |
| 210.2-01(C)(4) (the “Rule”) | o Financial reporting control assessments |
| and are related extensions of | o Enterprise security architecture |
| the audit services support the | assessment |
| audit, or use the knowledge/expertise | |
| gained from the audit procedures as a | |
| foundation to complete the project. | |
| In most cases, if the Audit-Related | |
| Services are not performed by the | |
| Audit firm, the scope of the Audit | |
| Services would likely increase. | |
| The Services are typically well-defined | |
| and governed by accounting | |
| professional standards (AICPA, | |
| SEC, etc.) | |
| |
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY |
o “One-time” pre-approval | o A summary of all such |
for the audit period for all | services and related fees |
pre-approved specific service | reported at each regularly |
subcategories. Approval of the | scheduled Audit Committee |
independent auditors as | meeting. |
auditors for a Fund shall | |
constitute pre approval for | |
these services. | |
|
o “One-time” pre-approval | o A summary of all such |
for the fund fiscal year within | services and related fees |
a specified dollar limit | (including comparison to |
for all pre-approved | specified dollar limits) |
specific service subcategories | reported quarterly. |
o Specific approval is | |
needed to exceed the | |
pre-approved dollar limit for | |
these services (see general | |
Audit Committee approval policy | |
below for details on obtaining | |
specific approvals) | |
|
o Specific approval is | |
needed to use the Fund’s | |
auditors for Audit-Related | |
Services not denoted as | |
“pre-approved”, or | |
to add a specific service | |
subcategory as “pre-approved” | |
| | | |
SECTION III - POLICY DETAIL, CONTINUED
| |
SERVICE CATEGORY | SERVICE CATEGORY DESCRIPTION | SPECIFIC PRE-APPROVED SERVICE |
| | SUBCATEGORIES |
III. TAX SERVICES | Services which are not | o Tax planning and support |
| prohibited by the Rule, | o Tax controversy assistance |
| if an officer of the Fund | o Tax compliance, tax returns, excise |
| determines that using the | tax returns and support |
| Fund’s auditor to provide | o Tax opinions |
| these services creates | |
| significant synergy in | |
| the form of efficiency, | |
| minimized disruption, or | |
| the ability to maintain a | |
| desired level of | |
| confidentiality. | |
| |
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY |
o “One-time” pre-approval | o A summary of |
for the fund fiscal year | all such services and |
within a specified dollar limit | related fees |
| (including comparison |
| to specified dollar |
| limits) reported |
| quarterly. |
|
o Specific approval is | |
needed to exceed the | |
pre-approved dollar limits for | |
these services (see general | |
Audit Committee approval policy | |
below for details on obtaining | |
specific approvals) | |
|
o Specific approval is | |
needed to use the Fund’s | |
auditors for tax services not | |
denoted as pre-approved, or to | |
add a specific service subcategory as | |
“pre-approved” | |
SECTION III - POLICY DETAIL, CONTINUED
|
SERVICE CATEGORY | SERVICE CATEGORY DESCRIPTION | SPECIFIC PRE-APPROVED SERVICE |
| | SUBCATEGORIES |
IV. OTHER SERVICES | Services which are not | o Business Risk Management support |
| prohibited by the Rule, | o Other control and regulatory |
A. SYNERGISTIC, | if an officer of the Fund | compliance projects |
UNIQUE QUALIFICATIONS | determines that using the | |
| Fund’s auditor to provide | |
| these services creates | |
| significant synergy in | |
| the form of efficiency, | |
| minimized disruption, | |
| the ability to maintain a | |
| desired level of | |
| confidentiality, or where | |
| the Fund’s auditors | |
| posses unique or superior | |
| qualifications to provide | |
| these services, resulting | |
| in superior value and | |
| results for the Fund. | |
| |
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY |
o “One-time” pre-approval | o A summary of |
for the fund fiscal year within | all such services and |
a specified dollar limit | related fees |
| (including comparison |
| to specified dollar |
| limits) reported |
| quarterly. |
o Specific approval is | |
needed to exceed the | |
pre-approved dollar limits for | |
these services (see general | |
Audit Committee approval policy | |
below for details on obtaining | |
specific approvals) | |
|
o Specific approval is | |
needed to use the Fund’s | |
auditors for “Synergistic” or | |
“Unique Qualifications” Other | |
Services not denoted as | |
pre-approved to the left, or to | |
add a specific service | |
subcategory as “pre-approved” | |
SECTION III - POLICY DETAIL, CONTINUED
|
SERVICE CATEGORY | SERVICE CATEGORY DESCRIPTION | SPECIFIC PROHIBITED SERVICE |
| | SUBCATEGORIES |
PROHIBITED SERVICES | Services which result | 1. Bookkeeping or other services |
| in the auditors losing | related to the accounting records or |
| independence status | financial statements of the audit |
| under the Rule. | client* |
| | 2. Financial information systems design |
| | and implementation* |
| | 3. Appraisal or valuation services, |
| | fairness* opinions, or |
| | contribution-in-kind reports |
| | 4. Actuarial services (i.e., setting |
| | actuarial reserves versus actuarial |
| | audit work)* |
| | 5. Internal audit outsourcing services* |
| | 6. Management functions or human |
| | resources |
| | 7. Broker or dealer, investment |
| | advisor, or investment banking services |
| | 8. Legal services and expert services |
| | unrelated to the audit |
| | 9. Any other service that the Public |
| | Company Accounting Oversight Board |
| | determines, by regulation, is |
| | impermissible |
| |
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY |
o These services are not to be | o A summary of all |
performed with the exception of the(*) | services and related |
services that may be permitted | fees reported at each |
if they would not be subject to audit | regularly scheduled |
procedures at the audit client (as | Audit Committee meeting |
defined in rule 2-01(f)(4)) level | will serve as continual |
the firm providing the service. | confirmation that has |
| not provided any |
| restricted services. |
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
o For all projects, the officers of the Funds and the Fund’s auditors will each make an assessment to determine that any proposed projects will not impair independence.
o Potential services will be classified into the four non-restricted service categories and the “Approval of Audit, Audit-Related, Tax and Other Services” Policy above will be applied. Any services outside the specific pre-approved service subcategories set forth above must be specifically approved by the Audit Committee.
o At least quarterly, the Audit Committee shall review a report summarizing the services by service category, including fees, provided by the Audit firm as set forth in the above policy.
(2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
Non-Audit Services
Beginning with non-audit service contracts entered into on or after May 6, 2003, the effective date of the
new SEC pre-approval rules, the Fund's audit committee is required to pre-approve services to
affiliates defined by SEC rules to the extent that the services are determined to have a direct impact on the operations or financial reporting of the Fund. For the years ended June 30, 2022 and 2021, there were no services provided to an affiliate that required the Fund's audit committee pre-approval.
(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountants engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
N/A
(g) Disclose the aggregate non-audit fees billed by the registrants accountant for services rendered to the registrant, and rendered to the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.
The Fund paid aggregate non-audit fees to Ernst & Young LLP for tax services of $24,191 and $22,504 during the fiscal years ended June 30, 2022 and 2021, respectively.
(h) Disclose whether the registrants audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrants investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
The Fund’s audit committee of the Board of Trustees has considered whether the provision of non-audit services that were rendered to the Affiliates (as defined) that were not pre- approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17 CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)), so state.
N/A
(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17 CFR 240.10A-3(d)) regarding an exemption from the listing standards for audit committees.
N/A
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in 210.1212 of Regulation S-X [17 CFR 210.12-12], unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Included in Item 1
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
A closed-end management investment company that is filing an annual report on this Form N-CSR must, unless it invests exclusively in non-voting securities, describe the policies and procedures that it uses to determine how to vote proxies relating to portfolio securities, including the procedures that the company uses when a vote presents a conflict between the interests of its shareholders, on the one hand, and those of the company’s investment adviser; principal underwriter; or any affiliated person (as defined in Section 2(a)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules thereunder) of the company, its investment adviser, or its principal underwriter, on the other. Include any policies and procedures of the company’s investment adviser, or any other third party, that the company uses, or that are used on the company’s behalf, to determine how to vote proxies relating to portfolio securities.
Not applicable to open-end management investment companies.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
(a) If the registrant is a closed-end management investment company that is filing an annual report on this Form N-CSR, provide the following information:
(1) State the name, title, and length of service of the person or persons employed by or associated with the registrant or an investment adviser of the registrant who are primarily responsible for the day-to-day management of the registrant’s portfolio (“Portfolio Manager”). Also state each Portfolio Manager’s business experience during the past 5 years.
Not applicable to open-end management investment companies.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a) If the registrant is a closed-end management investment company, in the following tabular format, provide the information specified in paragraph (b) of this Item with respect to any purchase made by or on behalf of the registrant or any affiliated purchaser, as defined in Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the registrant’s equity securities that is registered by the registrant pursuant to Section 12 of the Exchange Act (15 U.S.C. 781).
Not applicable to open-end management investment companies.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-R(17 CFR 229.407)(as required by Item 22(b)(15)) of Schedule 14A (17 CFR 240.14a-101), or this Item.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors since the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-R of Schedule 14(A) in its definitive proxy statement, or this item.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant’s principal executive and principal financials officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30(a)-3(b) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures are effective based on the evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that occured during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
There were no significant changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) If the registrant is a closed-end management investment company, provide the following dollar amounts of income and compensation related to the securities lending activities of the registrant during its most recent fiscal year:
N/A
(1) Gross income from securities lending activities;
N/A
(2) All fees and/or compensation for each of the following securities lending activities and related services: any share of revenue generated by the securities lending program paid to the securities lending agent(s) (revenue split); fees paid for cash collateral management services (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split; administrative fees that are not included in the revenue split; fees for indemnification that are not included in the revenue split; rebates paid to borrowers; and any other fees relating to the securities lending program that are not included in the revenue split, including a description of those other fees;
N/A
(3) The aggregate fees/compensation disclosed pursuant to paragraph (2); and
N/A
(4) Net income from securities lending activities (i.e., the dollar amount in paragraph (1) minus the dollar amount in paragraph (3)).
If a fee for a service is included in the revenue split, state that the fee is included in the revenue split.
N/A
(b) If the registrant is a closed-end management investment company, describe the services provided to the registrant by the securities lending agent in the registrants most recent fiscal year.
N/A
ITEM 13. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.
(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below:
Filed herewith.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Bond Fund
By (Signature and Title)* /s/ Lisa M. Jones
Lisa M. Jones, President and Chief Executive Officer
Date September 1, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Lisa M. Jones
Lisa M. Jones, President and Chief Executive Officer
Date September 1, 2022
By (Signature and Title)* /s/ Anthony J. Koenig, Jr.
Anthony J. Koenig, Jr., Treasurer and Chief Financial and Accounting Officer
Date September 1, 2022
* Print the name and title of each signing officer under his or her signature.