| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $28 | 0.55%^ |
^ | Annualized |
(as of June 30, 2024)
| Fund net assets | $314,327,060 |
| Total number of portfolio holdings | $22 |
(as of June 30, 2024)
| U.S. Government and Agency Obligations | 63.9% |
| Repurchase Agreements (Fully Collateralized by U.S. Government Securities) | 36.1% |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class R | $52 | 1.03%^ |
^ | Annualized |
(as of June 30, 2024)
| Fund net assets | $314,327,060 |
| Total number of portfolio holdings | $22 |
(as of June 30, 2024)
| U.S. Government and Agency Obligations | 63.9% |
| Repurchase Agreements (Fully Collateralized by U.S. Government Securities) | 36.1% |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class Y | $25 | 0.49%^ |
^ | Annualized |
(as of June 30, 2024)
| Fund net assets | $314,327,060 |
| Total number of portfolio holdings | $22 |
(as of June 30, 2024)
| U.S. Government and Agency Obligations | 63.9% |
| Repurchase Agreements (Fully Collateralized by U.S. Government Securities) | 36.1% |
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 19(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 19(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 19(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.
N/A
(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.
N/A
(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.
N/A
(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.
N/A
(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 related to performing the independent audit of the Funds | • Accounting research assistance
• SEC consultation, registration statements, and reporting
• Tax accrual related matters
• Implementation of new accounting standards
• Compliance letters (e.g. rating agency letters)
• Regulatory reviews and assistance regarding financial matters
• Semi-annual reviews (if requested)
• Comfort letters for closed end offerings | ||
| II. AUDIT-RELATED SERVICES | Services which are not prohibited under Rule 210.2-01(C)(4) (the “Rule”) and are related extensions of the audit services support the 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.) | • AICPA attest and agreed-upon procedures
• Technology control assessments
• Financial reporting control assessments
• Enterprise security architecture assessment | ||
| ||||
| ||
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY | |
| ||
• “One-time” pre-approval for the audit period for all pre-approved specific service subcategories. Approval of the independent auditors as auditors for a Fund shall constitute pre approval for these services. | • A summary of all such services and related fees reported at each regularly scheduled Audit Committee meeting. | |
| ||
• “One-time” pre-approval for the fund fiscal year within a specified dollar limit for all pre-approved specific service subcategories | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. | |
• 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)
• 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 prohibited by the Rule, if an officer of the Fund determines that using the Fund’s auditor to provide these services creates significant synergy in the form of efficiency, minimized disruption, or the ability to maintain a desired level of confidentiality. | • Tax planning and support
• Tax controversy assistance
• Tax compliance, tax returns, excise tax returns and support
• Tax opinions |
| AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY | |
• “One-time” pre-approval for the fund fiscal year within a specified dollar limit | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. | |
• 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)
• 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
A. SYNERGISTIC, UNIQUE QUALIFICATIONS | Services which are not prohibited by the Rule, if an officer of the Fund 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. | • Business Risk Management support
• Other control and regulatory compliance projects |
AUDIT COMMITTEE APPROVAL POLICY | AUDIT COMMITTEE REPORTING POLICY | |
• “One-time” pre-approval for the fund fiscal year within a specified dollar limit
• 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)
• 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” | • A summary of all such services and related fees (including comparison to specified dollar limits) reported quarterly. |
SECTION III - POLICY DETAIL, CONTINUED
| SERVICE CATEGORY | SERVICE CATEGORY DESCRIPTION | SPECIFIC PROHIBITED SERVICE SUBCATEGORIES | ||
| PROHIBITED SERVICES | Services which result in the auditors losing independence status under the Rule. | 1. Bookkeeping or other services related to the accounting records or financial statements of the audit 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 | |
• These services are not to be performed with the exception of the(*) services that may be permitted if they would not be subject to audit procedures at the audit client (as defined in rule 2-01(f)(4)) level the firm providing the service. | • A summary of all services and related fees reported at each regularly scheduled Audit Committee meeting will serve as continual confirmation that has not provided any restricted services. |
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
| • | 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. |
| • | 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. |
| • | 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.
N/A
(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.
N/A
(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.
(i) A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form NCSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.
N/A
(j) A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction, for each year in which the registrant is so identified, must provide the below disclosures. Also, any such identified foreign issuer that uses a variable-interest entity or any similar structure that results in additional foreign entities being consolidated in the financial statements of the registrant is required to provide the below disclosures for itself and its consolidated foreign operating entity or entities. A registrant must disclose:
(1) That, for the immediately preceding annual financial statement period, a registered public accounting firm that the PCAOB was unable to inspect or investigate completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit report for the registrant;
N/A
(2) The percentage of shares of the registrant owned by governmental entities in the foreign jurisdiction in which the registrant is incorporated or otherwise organized;
N/A
(3) Whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the registrant; N/A
(4) The name of each official of the Chinese Communist Party who is a member of the board of directors of the registrant or the operating entity with respect to the registrant;
N/A
(5) Whether the articles of incorporation of the registrant (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter.
N/A
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 7
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
| A: PMTXX | R: PRXXX | Y: PRYXX |
| Principal Amount USD ($) | Value | |||||
| UNAFFILIATED ISSUERS — 99.6% | ||||||
| U.S. Government and Agency Obligations — 63.6% of Net Assets | ||||||
| 4,000,000 | Federal Farm Credit Banks Funding Corp., 4.250%, 9/26/24 | $ 3,988,980 | ||||
| 300,000(a) | Federal Farm Credit Banks Funding Corp., 5.430%, (SOFR + 9 bps), 9/16/24 | 299,987 | ||||
| 2,000,000(a) | Federal Farm Credit Banks Funding Corp., 5.520%, (SOFR + 18 bps), 12/19/24 | 2,001,410 | ||||
| 5,760,000 | Federal Home Loan Banks, 1.500%, 8/15/24 | 5,732,646 | ||||
| 3,000,000 | Federal Home Loan Banks, 2.875%, 9/13/24 | 2,984,487 | ||||
| 1,745,000 | Federal Home Loan Banks, 3.000%, 7/8/24 | 1,744,186 | ||||
| 661,000 | Federal National Mortgage Association, 1.625%, 10/15/24 | 654,206 | ||||
| 15,744,000 | Federal National Mortgage Association, 1.750%, 7/2/24 | 15,742,485 | ||||
| 14,028,000 | Federal National Mortgage Association, 2.625%, 9/6/24 | 13,960,003 | ||||
| 18,000,000(b) | U.S. Treasury Bills, 7/2/24 | 17,997,362 | ||||
| 30,000,000(b) | U.S. Treasury Bills, 7/16/24 | 29,934,231 | ||||
| 10,000,000(b) | U.S. Treasury Bills, 7/18/24 | 9,975,232 | ||||
| 10,000,000(b) | U.S. Treasury Bills, 9/12/24 | 9,893,714 | ||||
| 25,000,000(a) | U.S. Treasury Floating Rate Notes, 5.342%, (3 Month U.S. Treasury Money Market Yield + 4 bps), 7/31/24 | 25,000,669 | ||||
| 23,000,000(a) | U.S. Treasury Floating Rate Notes, 5.445%, (3 Month U.S. Treasury Money Market Yield + 14 bps), 10/31/24 | 23,007,620 | ||||
| 12,000,000(a) | U.S. Treasury Floating Rate Notes, 5.474%, (3 Month U.S. Treasury Money Market Yield + 17 bps), 4/30/25 | 12,009,342 | ||||
| 25,000,000(a) | U.S. Treasury Floating Rate Notes, 5.506%, (3 Month U.S. Treasury Money Market Yield + 20 bps), 1/31/25 | 25,013,331 | ||||
| Total U.S. Government and Agency Obligations (Cost $199,939,891) | $199,939,891 | |||||
| Principal Amount USD ($) | Value | |||||
| SHORT TERM INVESTMENTS — 36.0% of Net Assets | ||||||
| Repurchase Agreements — 36.0% | ||||||
| 28,300,000 | Bank of America, 5.32%, dated 6/28/2024, to be purchased on 7/1/2024 for $28,312,546, collateralized by the following: $18,014,757, Federal Home Loan Mortgage Corporation,4.35%, 5/1/2049, $8,363,931, Federal National Mortgage Association, 6.21%, 4/1/2047, $2,487,313, Government National Mortgage Association,3.50%, 11/20/2046 | $ 28,300,000 | ||||
| 28,300,000 | Scotia Capital Inc., 5.32%, dated 6/28/2024, to be purchased on 7/1/2024 for $28,312,546, collateralized by the following: $8,499, Federal Home Loan Mortgage Corporation, 2.50%-6.50%, 4/1/2029-2/1/2054, $5,563,770, Federal National Mortgage Association, 1.50%-7.50%, 8/1/2025-6/1/2054, $23,306,620, U.S. Treasury Bill, 6/12/2025 | 28,300,000 | ||||
| 28,300,000 | RBC Dominion Securities Inc., 5.31%, dated 6/28/2024, to be purchased on 7/1/2024 for $28,312,522, collateralized by the following: $28,878,777, U.S. Treasury Floating Rate Note, 5.34%-5.45%, 7/31/2024-10/31/2024 | 28,300,000 | ||||
| 14,150,000 | Toronto-Dominion Bank, 5.32%, dated 6/28/2024, to be purchased on 7/1/2024 for $14,156,273, collateralized by the following: $14,433,084, U.S. Treasury Note, 0.75%-4.00%, 7/31/2025-10/31/2029 | 14,150,000 | ||||
| 14,150,000 | Toronto-Dominion Bank, 5.33%, dated 6/28/2024, to be purchased on 7/1/2024 for $14,156,284, collateralized by the following: $14,433,000, Government National Mortgage Association, 5.50%-6.00%, 4/20/2053-10/20/2053 | 14,150,000 | ||||
| $113,200,000 | ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $113,200,000) | $113,200,000 | |||||
| TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 99.6% (Cost $313,139,891) | $313,139,891 | |||||
| OTHER ASSETS AND LIABILITIES — 0.4% | $1,187,169 | |||||
| net assets — 100.0% | $314,327,060 | |||||
| bps | Basis Points. |
| SOFR | Secured Overnight Financing Rate. |
| (a) | Floating rate note. Coupon rate, reference index and spread shown at June 30, 2024. |
| (b) | Security issued with a zero coupon. Income is recognized through accretion of discount. |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $— |
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | — |
| Net unrealized appreciation | $— |
| 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 Adviser’s own assumptions in determining fair value of investments). See Notes to Financial Statements — Note 1A. |
| Level 1 | Level 2 | Level 3 | Total | |
| U.S. Government and Agency Obligations | $— | $199,939,891 | $— | $199,939,891 |
| Repurchase Agreements | — | 113,200,000 | — | 113,200,000 |
| Total Investments in Securities | $— | $313,139,891 | $— | $313,139,891 |
| ASSETS: | |
| Investments in unaffiliated issuers, at value (cost $199,939,891) | $199,939,891 |
| Repurchase Agreements, at value (cost $113,200,000) | 113,200,000 |
| Cash | 193,277 |
| Receivables — | |
| Fund shares sold | 323,127 |
| Interest | 1,237,230 |
| Other assets | 38,121 |
| Total assets | $314,931,646 |
| LIABILITIES: | |
| Payables — | |
| Fund shares repurchased | $163,831 |
| Distributions | 269,285 |
| Trustees’ fees | 301 |
| Professional fees | 64,550 |
| Transfer agent fees | 20,863 |
| Shareholder communications expense | 31,326 |
| Custodian fees | 6,663 |
| Management fees | 14,988 |
| Administrative expenses | 6,158 |
| Distribution fees | 184 |
| Accrued expenses | 26,437 |
| Total liabilities | $604,586 |
| NET ASSETS: | |
| Paid-in capital | $314,272,151 |
| Distributable earnings | 54,909 |
| Net assets | $314,327,060 |
| NET ASSET VALUE PER SHARE: | |
| No par value (unlimited number of shares authorized) | |
| Class A (based on $238,875,473/238,961,880 shares) | $1.00 |
| Class R (based on $2,721,449/2,721,452 shares) | $1.00 |
| Class Y (based on $72,730,138/72,740,814 shares) | $1.00 |
| INVESTMENT INCOME: | ||
| Interest from unaffiliated issuers | $8,284,161 | |
| Total Investment Income | $8,284,161 | |
| EXPENSES: | ||
| Management fees | $537,825 | |
| Administrative expenses | 78,067 | |
| Transfer agent fees | ||
| Class A | 42,908 | |
| Class R | 363 | |
| Class Y | 973 | |
| Distribution fees | ||
| Class A | 175,692 | |
| Class R | 6,358 | |
| Shareholder communications expense | 36,013 | |
| Custodian fees | 409 | |
| Registration fees | 28,648 | |
| Professional fees | 61,280 | |
| Printing expense | 3,363 | |
| Officers’ and Trustees’ fees | 7,316 | |
| Miscellaneous | 22,948 | |
| Total expenses | $1,002,163 | |
| Less fees waived and expenses reimbursed by the Adviser and the Distributor | (175,737) | |
| Net expenses | $826,426 | |
| Net investment income | $7,457,735 | |
| REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||
| Net realized gain (loss) on: | ||
| Investments in unaffiliated issuers | $6 | |
| Net increase in net assets resulting from operations | $7,457,741 |
| Six Months Ended 6/30/24 (unaudited) | Year Ended 12/31/23 | |
| FROM OPERATIONS: | ||
| Net investment income (loss) | $7,457,735 | $14,655,960 |
| Net realized gain (loss) on investments | 6 | — |
| Net increase in net assets resulting from operations | $7,457,741 | $14,655,960 |
| DISTRIBUTIONS TO SHAREHOLDERS: | ||
| Class A ($0.0241 and $0.0452 per share, respectively) | $(5,640,018) | $(11,522,213) |
| Class R ($0.0217 and $0.0403 per share, respectively) | (55,144) | (85,582) |
| Class Y ($0.0244 and $0.0457 per share, respectively) | (1,720,833) | (3,022,289) |
| Total distributions to shareholders | $(7,415,995) | $(14,630,084) |
| FROM FUND SHARE TRANSACTIONS: | ||
| Net proceeds from sales of shares | $77,386,318 | $157,570,371 |
| Reinvestment of distributions | 5,666,742 | 11,536,119 |
| Cost of shares repurchased | (82,460,257) | (185,264,521) |
| Net increase (decrease) in net assets resulting from Fund share transactions | $592,803 | $(16,158,031) |
| Net increase (decrease) in net assets | $634,549 | $(16,132,155) |
| NET ASSETS: | ||
| Beginning of period | $313,692,511 | $329,824,666 |
| End of period | $314,327,060 | $313,692,511 |
| Six Months Ended 6/30/24 Shares (unaudited) | Six Months Ended 6/30/24 Amount (unaudited) | Year Ended 12/31/23 Shares | Year Ended 12/31/23 Amount | |
| Class A | ||||
| Shares sold | 48,043,439 | $48,043,439 | 126,416,260 | $126,416,260 |
| Reinvestment of distributions | 5,525,112 | 5,525,112 | 11,292,854 | 11,292,854 |
| Less shares repurchased | (58,482,482) | (58,482,482) | (159,688,538) | (159,688,538) |
| Net decrease | (4,913,931) | $(4,913,931) | (21,979,424) | $(21,979,424) |
| Class R | ||||
| Shares sold | 286,555 | $286,555 | 893,141 | $893,141 |
| Reinvestment of distributions | 53,997 | 53,997 | 83,450 | 83,450 |
| Less shares repurchased | (61,134) | (61,134) | (441,190) | (441,190) |
| Net increase | 279,418 | $279,418 | 535,401 | $535,401 |
| Class Y | ||||
| Shares sold | 29,056,325 | $29,056,324 | 30,260,970 | $30,260,970 |
| Reinvestment of distributions | 87,633 | 87,633 | 159,815 | 159,815 |
| Less shares repurchased | (23,916,641) | (23,916,641) | (25,134,793) | (25,134,793) |
| Net increase | 5,227,317 | $5,227,316 | 5,285,992 | $5,285,992 |
| Six Months Ended 6/30/24 (unaudited) | Year Ended 12/31/23 | Year Ended 12/31/22 | Year Ended 12/31/21 | Year Ended 12/31/20 | Year Ended 12/31/19 | |
| Class A | ||||||
| Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Increase (decrease) from investment operations: | ||||||
| Net investment income (loss) (a) | $0.024 | $0.045 | $0.015 | $0.000(b) | $0.002 | $0.015 |
| Net realized and unrealized gain (loss) on investments | 0.000(b) | 0.000 | (0.001) | 0.000(b) | 0.000(b) | 0.000(b) |
| Net increase (decrease) from investment operations | $0.024 | $0.045 | $0.014 | $0.000(b) | $0.002 | $0.015 |
| Distributions to shareholders: | ||||||
| Net investment income | $(0.024) | $(0.045) | $(0.014) | $(0.000)(b) | $(0.002)(c) | $(0.015)(c) |
| Total distributions | $(0.024) | $(0.045) | $(0.014) | $(0.000)(b) | $(0.002) | $(0.015) |
| Net increase (decrease) in net asset value | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Total return (d) | 2.43%(e) | 4.61% | 1.39% | 0.02% | 0.20% | 1.50% |
| Ratio of net expenses to average net assets | 0.55%(f) | 0.55% | 0.39% | 0.04% | 0.25% | 0.69% |
| Ratio of net investment income (loss) to average net assets | 4.84%(f) | 4.52% | 1.45% | 0.03% | 0.16% | 1.50% |
| Net assets, end of period (in thousands) | $238,875 | $243,757 | $265,715 | $215,528 | $257,214 | $197,032 |
| 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 | 0.70%(f) | 0.70% | 0.65% | 0.79% | 0.79% | 0.84% |
| Net investment income (loss) to average net assets | 4.69%(f) | 4.37% | 1.19% | (0.72)% | (0.38)% | 1.35% |
| (a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
| (b) | Amount rounds to less than $0.001 or $(0.001) per share. |
| (c) | The amount of distributions made to shareholders during the period were in excess of the net investment income earned by the Fund during the period. A portion of the accumulated net investment income was distributed to shareholders during the period. |
| (d) | 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. |
| (e) | Not annualized. |
| (f) | Annualized. |
| Six Months Ended 6/30/24 (unaudited) | Year Ended 12/31/23 | Year Ended 12/31/22 | Year Ended 12/31/21 | Year Ended 12/31/20 | Year Ended 12/31/19 | |
| Class R | ||||||
| Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Increase (decrease) from investment operations: | ||||||
| Net investment income (loss) (a) | $0.022 | $0.040 | $0.012 | $0.000(b) | $0.001 | $0.010 |
| Net realized and unrealized gain (loss) on investments | 0.000(b) | 0.000 | (0.001) | 0.000(b) | 0.000(b) | 0.001 |
| Net increase (decrease) from investment operations | $0.022 | $0.040 | $0.011 | $0.000(b) | $0.001 | $0.011 |
| Distributions to shareholders: | ||||||
| Net investment income | $(0.022) | $(0.040) | $(0.011) | $(0.000)(b) | $(0.001)(c) | $(0.011)(c) |
| Total distributions | $(0.022) | $(0.040) | $(0.011) | $(0.000)(b) | $(0.001) | $(0.011) |
| Net increase (decrease) in net asset value | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Total return (d) | 2.19%(e) | 4.11% | 1.07% | 0.02% | 0.12% | 1.08% |
| Ratio of net expenses to average net assets | 1.03%(f) | 1.04% | 0.72% | 0.06% | 0.30% | 1.12% |
| Ratio of net investment income (loss) to average net assets | 4.36%(f) | 4.06% | 1.17% | 0.01% | 0.09% | 1.03% |
| Net assets, end of period (in thousands) | $2,721 | $2,442 | $1,906 | $1,585 | $1,825 | $885 |
| 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 | 1.04%(f) | 1.06% | 0.99% | 1.11% | 1.08% | 1.12% |
| Net investment income (loss) to average net assets | 4.35%(f) | 4.04% | 0.90% | (1.04)% | (0.69)% | 1.03% |
| (a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
| (b) | Amount rounds to less than $0.001 or $(0.001) per share. |
| (c) | The amount of distributions made to shareholders during the period were in excess of the net investment income earned by the Fund during the period. A portion of the accumulated net investment income was distributed to shareholders during the period. |
| (d) | 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. |
| (e) | Not annualized. |
| (f) | Annualized. |
| Six Months Ended 6/30/24 (unaudited) | Year Ended 12/31/23 | Year Ended 12/31/22 | Year Ended 12/31/21 | Year Ended 12/31/20 | Year Ended 12/31/19 | |
| Class Y | ||||||
| Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Increase (decrease) from investment operations: | ||||||
| Net investment income (loss) (a) | $0.024 | $0.046 | $0.014 | $0.000(b) | $0.002 | $0.017 |
| Net realized and unrealized gain (loss) on investments | 0.000(b) | 0.000 | 0.000(b) | 0.000(b) | 0.000(b) | 0.000(b) |
| Net increase (decrease) from investment operations | $0.024 | $0.046 | $0.014 | $0.000(b) | $0.002 | $0.017 |
| Distributions to shareholders: | ||||||
| Net investment income | $(0.024) | $(0.046) | $(0.014) | $(0.000)(b) | $(0.002)(c) | $(0.017)(c) |
| Total distributions | $(0.024) | $(0.046) | $(0.014) | $(0.000)(b) | $(0.002) | $(0.017) |
| Net increase (decrease) in net asset value | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Total return (d) | 2.47%(e) | 4.67% | 1.40% | 0.02% | 0.22% | 1.67% |
| Ratio of net expenses to average net assets | 0.49%(f) | 0.50% | 0.38% | 0.05% | 0.24% | 0.52% |
| Ratio of net investment income (loss) to average net assets | 4.91%(f) | 4.58% | 1.42% | 0.02% | 0.19% | 1.66% |
| Net assets, end of period (in thousands) | $72,730 | $67,494 | $62,204 | $54,015 | $48,542 | $42,343 |
| 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 | 0.49%(f) | 0.50% | 0.46% | 0.51% | 0.53% | 0.52% |
| Net investment income (loss) to average net assets | 4.91%(f) | 4.58% | 1.34% | (0.44)% | (0.10)% | 1.66% |
| (a) | The per-share data presented above is based on the average shares outstanding for the period presented. |
| (b) | Amount rounds to less than $0.001 or $(0.001) per share. |
| (c) | The amount of distributions made to shareholders during the period were in excess of the net investment income earned by the Fund during the period. A portion of the accumulated net investment income was distributed to shareholders during the period. |
| (d) | 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. |
| (e) | Not annualized. |
| (f) | Annualized. |
| A. | Security Valuation |
| The net asset value of the Fund is computed twice daily, on each day the New York Stock Exchange (“NYSE”) is open, at 1:00 p.m. Eastern time and as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern time). | |
| The Fund generally values its securities using the amortized cost method, which approximates fair market value, in accordance with Rule 2a-7 under the 1940 Act. This valuation method assumes a steady rate of amortization of any premium or discount from the date of purchase until the maturity of each security. This valuation method is designed to permit a money market fund to maintain a constant net asset value of $1.00 per share, but there is no guarantee that it will do so. | |
| Repurchase agreements are valued at par. Cash may include overnight time deposits at approved financial institutions. | |
| B. | Investment Income and Transactions |
| Investments purchased at a discount or premium are valued by amortizing the difference between the original purchase price and maturity value of the issue over the period to maturity. | |
| Interest income, including interest on income-bearing cash accounts, is recorded on the accrual basis. | |
| 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. | 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 shareholders. Therefore, no provision for federal income taxes is required. As of June 30, 2024, 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 shareholders 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, 2024, the Fund was permitted to carry forward indefinitely $2,258 of short-term losses and $218 of long-term losses. | |
| The tax character of current year distributions payable will be determined at the end of the current taxable year. The tax character of distributions paid during the year ended December 31, 2023 was as follows: |
| 2023 | |
| Distributions paid from: | |
| Ordinary income | $14,630,084 |
| Total | $14,630,084 |
| 2023 | |
| Distributable earnings/(losses): | |
| Undistributed ordinary income | $15,639 |
| Capital loss carryforward | (2,476) |
| Total | $13,163 |
| D. | Fund Shares |
| The Fund records sales and repurchases of its shares as of trade date. 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. | |
| E. | 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 and Class R shares of the Fund, respectively (see Note 4). 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). | |
| Distributions to shareholders 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 R and Class Y shares can reflect different transfer agent and distribution expense rates. |
| F. | Risks |
| You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress. | |
| The long-term impact of the COVID-19 pandemic and its subsequent variants on economies, markets, industries and individual issuers, are not known. Some sectors of the economy and individual issuers have experienced or may experience particularly large losses. Periods of extreme volatility in the financial markets, reduced liquidity of many instruments, increased government debt, inflation, and disruptions to supply chains, consumer demand and employee availability, may continue for some time. Following Russia’s invasion of Ukraine, Russian securities lost all, or nearly all, their market value. Other securities or markets could be similarly affected by past or future political, geopolitical or other events or conditions. | |
| 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. | |
| General market conditions, such as real or perceived adverse economic, political or regulatory conditions, recessions, inflation, changes in interest rates, lack of liquidity or other disruptions 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, market disruptions caused by tariffs, trade disputes or other government actions, or other factors or adverse investor sentiment or other adverse market events and conditions could cause the value of your investment, or its yield, to decline. Inflation and interest rates have increased and may rise further. These circumstances could adversely affect the value of the Fund's investments. Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the ceiling on U.S. government debt could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets, including with respect to the value and liquidity of the Fund's investments. | |
| The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment |
| restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China were to attempt unification of Taiwan by force, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund’s assets may go down. | |
| 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. | |
| 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 shareholders to effect share purchases, redemptions or exchanges or receive distributions, loss of or unauthorized access to private shareholder 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. |
| G. | 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, 2024 are disclosed in the Schedule of Investments. |
| Shareholder Communications: | |
| Class A | $35,320 |
| Class R | 337 |
| Class Y | 356 |
| Total | $36,013 |
new accounts, prospectuses, applications
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account information and transactions
| Retirement plans information | 1-800-622-0176 |
P.O. Box 534427
Pittsburgh, PA 15253-4427
| Our toll-free fax | 1-800-225-4240 |
| Our internet e-mail address | us.askamundi@amundi.com (for general questions about Amundi only) |
60 State Street
Boston, MA 02109
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
© 2024 Amundi Asset Management US, Inc. 19399-18-0824
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Included in Item 1
ITEM 9. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES. (Unaudited)
N/A
Item 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES. (Unaudited)
Each Board Member also serves as a Board Member of other Funds in the Pioneer Family of Funds complex. Annual retainer fees and attendance fees are allocated to each Fund based on net assets. Trustees’ fees paid by the Fund are within Item 7. Statement of Operations as Trustees’ fees and expenses.
Item 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESMENT ADVISORY CONTRACT. (Unaudited)
N/A
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. (Unaudited)
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 13. 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 14. 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 15. 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 16. 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 occurred 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 17. 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 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
N/A
ITEM 19. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
Filed herewith.
(3) Not applicable.
(4) Registrant’s Independent Public Accountant, attached as Exhibit 99.ACCT.
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 Money Market Trust
By (Signature and Title)* /s/ Lisa M. Jones
Lisa M. Jones, Principal Executive Officer
Date September 5, 2024
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, Principal Executive Officer
Date September 5, 2024
By (Signature and Title)* /s/ Anthony J. Koenig, Jr.
Anthony J. Koenig, Jr., Principal Financial Officer
Date September 5, 2024
| * | Print the name and title of each signing officer under his or her signature. |