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 Pioneer 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
Date of reporting period: July 1, 2017 through June 30, 2018
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.
ITEM 1. REPORTS TO STOCKHOLDERS.
Pioneer Bond Fund
--------------------------------------------------------------------------------
Annual Report | June 30, 2018
--------------------------------------------------------------------------------
Ticker Symbols:
Class A PIOBX
Class C PCYBX
Class K PBFKX
Class R PBFRX
Class Y PICYX
[LOGO] Amundi Pioneer
==============
ASSET MANAGEMENT
visit us: www.amundipioneer.com
Table of Contents
President's Letter 2
Portfolio Management Discussion 4
Portfolio Summary 10
Prices and Distributions 11
Performance Update 12
Comparing Ongoing Fund Expenses 17
Schedule of Investments 19
Financial Statements 97
Notes to Financial Statements 106
Report of Independent Registered Public Accounting Firm 122
Additional Information 124
Trustees, Officers and Service Providers 126
Pioneer Bond Fund | Annual Report | 6/30/18 1
President's Letter
Over the first half of 2018, the U.S. stock market, as measured by the Standard
& Poor's 500 Index (the S&P 500), has returned 2.65%, while bond markets, as
measured by the Bloomberg Barclays U.S. Aggregate Bond Index, have been
negative, returning -1.62%. While the markets have delivered somewhat mixed and
tepid returns, we have observed the U.S. Federal Reserve System (the Fed)
continuing to tighten monetary policy by increasing interest rates in both March
and June, and moving forward with the tapering of its balance sheet, a process
which began in October 2017. The Fed also signaled the potential for two
additional rate hikes before the end of this year, given robust economic growth
and the potential for rising inflation.
Although domestic equities gained ground during the first six months of the
year, the investment backdrop proved more challenging compared to the favorable
conditions of the past two years. On the positive side, stocks continued to
benefit from the underpinnings of robust domestic economic growth, lower tax
rates, and rising corporate earnings. At the same time, however, day-to-day
market volatility began to pick up in response to worries about rising interest
rates and uncertainty regarding U.S. trade policy. In fact, while the S&P 500
Index was positive for the first half of the year, the majority of its gain
occurred in January, as stocks suffered a steep sell-off in early February and
spent the rest of the six months ended June 30, 2018, regaining lost ground.
Across the fixed-income space, rising interest rates have helped drive down
returns of most asset classes, though the floating-rate sector, which includes
bank loans, has fared well in the rising-rate environment. In addition,
structured sectors, such as asset-backed securities (ABS) and mortgage-backed
securities (MBS), have generally outperformed Treasuries. Agency MBS, in
particular, have performed well as the housing market has continued to show
strength, despite rising interest rates and rising home prices.
Although we have experienced an increase in volatility in the equity markets,
looking ahead, we have not changed our outlook and still have a constructive
view of U.S. stocks, especially given other investment alternatives. Economic
growth continues to improve and overall equity valuations - while elevated in
the growth segment of the market - in our view, are not excessive. In addition,
U.S. gross domestic product (GDP) growth remains strong, coming in at above 2%
for the first quarter of 2018, with projections of a continued, if not
increasing growth rate for the second quarter.
2 Pioneer Bond Fund | Annual Report | 6/30/18
In fixed income, we believe that attractive investment opportunities still
exist, even with interest rates on the rise. In general, our core fixed-income
portfolios remain underweight to nominal U.S. Treasuries, which are sensitive to
the rising-rate environment. We have, however, allocated assets to Treasury
inflation-protected securities, or TIPS, which are indexed to inflation in order
to protect against its negative effects. In addition, we believe investors
should be selective when investing in the investment-grade bond sector, as the
use of leverage by corporations to fund mergers and acquisitions as well as
stock buybacks and dividend increases has risen significantly. We continue to
see more attractive valuations within structured investment vehicles, such as
residential MBS, as fundamentals within the U.S. housing market are solid and
U.S. consumer sentiment remains positive.
We believe this year's market fluctuations have served to remind investors of
the importance of active management. Since 1928, active management has been the
foundation of Amundi Pioneer's investment approach. We believe active management
is especially important during periods of volatility, and that our shareowners
can benefit from the experience and tenure of our investment teams, who work
collaboratively to make active and informed decisions across our funds.
As always, and particularly during times of market uncertainty, we encourage you
to work with your financial advisor to develop an overall investment plan that
addresses both your short- and long-term goals, and to implement such a plan in
a disciplined manner.
We greatly appreciate the trust you have placed in us and look forward to
continuing to serve you in the future.
/s/ Lisa M. Jones
Lisa M. Jones
Head of the Americas, President and CEO of U.S.
Amundi Pioneer Asset Management USA, Inc.
June 30, 2018
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 | 6/30/18 3
Portfolio Management Discussion | 6/30/18
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, 2018.
Mr. Komenda, Senior Vice President, Deputy Director of Investment-Grade
Corporates, and a portfolio manager at Amundi Pioneer Asset Management, Inc.
("Amundi Pioneer"), is responsible for the day-to-day management of the Fund,
along with Kenneth J. Taubes, Executive Vice President and Chief Investment
Officer, US, and a portfolio manager at Amundi Pioneer, and Timothy Rowe*,
Managing Director, Deputy Director of Multisector Fixed Income, and a portfolio
manager at Amundi Pioneer.
Q How did the Fund perform during the 12-month period ended June 30, 2018?
A Pioneer Bond Fund's Class A shares returned 0.14% at net asset value during
the 12-month period ended June 30, 2018, while the Fund's benchmark, the
Bloomberg Barclays U.S. Aggregate Bond Index (the Bloomberg Barclays
Index), returned -0.40%. During the same period, the average return of the
999 mutual funds Morningstar's Intermediate-Term Bond Funds Category was
-0.36%.
Q How would you describe the investment environment in the fixed-income
markets during the 12-month period ended June 30, 2018?
A Investor sentiment was buoyed entering the second half of 2017 by continued
improvement in the domestic economy. Overseas, economic conditions were
likewise strong, and U.S. corporate profits continued to soar against a
backdrop of globally synchronized growth. With U.S. unemployment flirting
with falling below 4%, companies were experiencing a shortage of skilled
labor, while voluntary worker departures were on the rise, thus raising
hopes that meaningful wage increases would be forthcoming. Those
developments were reflected in consumer confidence, which hovered at
historically strong levels in late 2017.
On the policy front, in October 2017 the Federal Reserve (the Fed) began
tapering its reinvestment of maturing principal into the agency-debt and
mortgage-backed security (MBS) markets. The Fed's plan to reduce its
balance sheet in that manner had been well communicated, however, and
caused little stir with respect to long-term interest rates. Similarly, the
Fed's December 2017 increase to the federal funds rate, its benchmark
overnight
* Mr. Rowe became a portfolio manager of the Fund effective June 8, 2018. He
is based in our Durham, NC office.
4 Pioneer Bond Fund | Annual Report | 6/30/18
lending rate, was also well absorbed by the markets. The Fed would later
raise the federal funds rate again in both March and June of 2018, while
signaling the prospect of two additional hikes before the end of 2018.
As 2017 drew to a close, Congress passed a tax bill that lowered the
statutory corporate tax rate from 35% to 21%, permitted a one-time
repatriation of corporate cash at a favorable tax rate, and expanded the
ability of companies to expense capital investment. The provisions were
viewed by investors as likely to further boost economic growth, corporate
profits, and credit-market fundamentals.
While short-term Treasury yields maintained an upward trend for most of the
12 months as investors positioned for the Fed's continued normalization of
interest rates, yields further out on the curve were relatively stable
through the end of 2017. Things began to change in January of 2018 as
longer-term Treasury yields started moving higher, with increases driven in
part by rising inflation expectations against a backdrop of strengthening
commodity prices globally as well as domestic employment data that
continued to surprise to the upside. The closely watched 10-year U.S.
Treasury yield began 2018 at 2.40%, and by mid-February was trading more or
less in a band around 2.90%. The 10-year Treasury yield would reach a high
of 3.11% in mid-May 2018, before easing to 2.85% by the end of June.
While the interest-rate environment provided a headwind for bond investors,
credit-market sentiment did receive a boost over the period from a positive
fundamental backdrop. However, the Trump administration's escalating trade
rhetoric and concurrent measures, including tariffs on steel and aluminum
as well as on a range of products from China, clouded the outlook to some
degree, leading to bouts of market volatility.
For the 12 months ended June 30, 2018, returns for high-yield corporate
bonds were in positive territory, at 2.62%, according to the Bloomberg
Barclays U.S. Corporate High Yield Index, while the investment-grade
corporate market, which is more sensitive to changes in interest rates,
posted a return of -0.83%, as measured by the Bloomberg Barclays U.S.
Corporate Bond Index. Structured assets such as asset-backed securities
(ABS) and commercial mortgage-backed securities (CMBS) held up better than
investment-grade corporates, supported by strong consumer fundamentals.
Pioneer Bond Fund | Annual Report | 6/30/18 5
Q What factors influenced the Fund's performance relative to the Bloomberg
Barclays Index during the 12-month period ended June 30, 2018?
A The Fund's positioning with respect to interest rates was the leading
positive contributor to benchmark-relative performance during the period.
In particular, the Fund was underweight the two-to-five-year maturity range
on the yield curve, where prices were negatively affected by the Fed's rate
increases.
Asset allocation decisions, in aggregate, also contributed positively to
the Fund's relative performance. The portfolio's underweight to U.S.
Treasuries aided benchmark-relative returns as Treasury prices were
negatively affected by rising interest rates over the period. In addition,
the Fund typically maintains a modest, strategic exposure to
insurance-linked securities (ILS), including so-called "catastrophe bonds,"
which are sponsored by insurance companies looking to transfer some of the
risk of claim payments following a natural disaster. We believe exposure to
ILS can offer the Fund a valuable source of diversification** and
incremental income, and the positions contributed positively to benchmark-
performance during the period, despite some volatility in the ILS market
late 2017 in the wake of several natural disasters occurring in a short
time span. In addition, a non-benchmark position in Treasury inflation-
protected securities (TIPS) gave a slight boost to the Fund's relative
results, as TIPS outperformed nominal Treasuries on the back of increased
inflation expectations over the period. An overweight portfolio allocation
to securitized assets, most notably CMBS and ABS, was another positive
contributor to the Fund's relative performance.
Within the portfolio's allocation to investment-grade corporates, a tilt
toward financials - in particular, exposure to the less-senior debt of
large banks in the U.S. and core (developed market) Europe - provided a
modest boost to the Fund's benchmark-relative results. We view the Fund's
bank holdings as representing good value, and given the risk-management
practices in place across that segment of the market, we took advantage of
recent weakness and increased the Fund's allocation late in the period.
** Diversification does not assure a profit nor protect against loss.
6 Pioneer Bond Fund | Annual Report | 6/30/18
Security selection, in aggregate, aided the Fund's benchmark-relative
results during the period. In particular, our focus on owning conventional
Fannie Mae and Freddie Mac securities versus Ginnie Mae's within the
portfolio's 30-year pass-through MBS allocation helped performance. An
underweight to 15-year pass-through MBS relative to 30-year issues was
another positive contributor. Within investment grade, security selection
results were positive for the Fund in both the industrial and financial
sectors.
During a period where both the benchmark and the Fund's Morningstar peers
finished with negative returns, the Fund's performance was in positive
territory for the 12-month period, and so there were no significant
detractors from benchmark-relative results. However, the Fund's stance with
respect to overall portfolio duration did not contribute positively to
relative performance, and was essentially a neutral factor over the full
period. (Duration is a measure of the price sensitivity of a fixed-income
investment to changes in interest rates, expressed as a number of years.)
As of June 30, 2018, the portfolio's average effective duration was short
-0.5 years compared with the Bloomberg Barclays Index.
Q Did the Fund have any investments in derivative securities during the
12-month period ended June 30, 2018? If so, did the derivatives have any
material impact on performance?
A Yes, we invested the portfolio in Treasury futures and credit default
swaps. We invest in Treasury futures as part of our duration-management
approach for the Fund. We believe the use of Treasury futures allows us to
express our views on duration and yield-curve positioning in the most
efficient manner. We invest in credit default swaps to either gain or
reduce portfolio exposure to corporate bonds very quickly, as it takes a
little more time to transact in cash bonds. The use of derivatives did not
materially impact the Fund's performance during the period.
Q What factors affected the Fund's yield, or distributions to shareholders,
during the 12-month period ended June 30, 2018?
A The overall rise in Treasury yields contributed to a higher Fund yield over
the 12 months, as did the widening of credit spreads. (Credit spreads are
commonly defined as the differences in yield between Treasuries and other
types of fixed-income securities with similar maturities.)
Pioneer Bond Fund | Annual Report | 6/30/18 7
Q What is your investment outlook and how is the Fund positioned heading into
the second half of the fiscal year?
A We have been reducing credit risk in the portfolio for some time, given a
generally tight spread environment. Overall investment-grade corporate
spreads are 40 basis points (bps) above their post-crisis tights, which
were achieved on January 31 of this year. (A basis point is equal to
1/100th of a percentage point.) While the credit markets remain well
supported by strong fundamentals and a favorable gross domestic product
(GDP) outlook, we believe corporates face greater downside risk should
volatility increase due to an unexpected change in central-bank policies or
a slowdown in global economic growth. In particular, within
investment-grade corporates we have been reducing the Fund's exposure to
securities in the BBB-quality range, where issuers' use of leverage to
finance mergers and acquisitions, share repurchases, and dividend increases
has eroded credit quality. The Fund remains overweight to banking, and to
energy, where spreads appear relatively attractive in spite of the recent
strengthening in oil prices.
In our view, there is a risk of the Fed's falling behind the curve on
controlling inflation, given the strong growth rate of the U.S. economy,
the boost from the recent tax cuts, and mounting upward pressure on wages
in a low-unemployment environment. Should the Fed feel pressured to play
catch-up on hiking rates, we expect that more credit-sensitive areas of the
market would be adversely affected. As a result, we have increased the
Fund's exposure to structured securities at the expense of corporates. In
particular, we have sought to add non-agency MBS, ABS, and CMBS to the
portfolio, as we view those segments of the market as featuring favorable
risk/return profiles, given our outlook for continued low default rates.
The portfolio holds a position in long-duration TIPS, which are designed to
help protect the Fund should inflation exceed expectations. In a similar
vein, we view non-benchmark exposure to floating-rate bank loans as
attractive should signs of inflation lead the Fed to surprise investors to
the upside on interest rates, as the loan asset class carries relatively
low interest-rate risk. We are, however, seeking to maintain a high-quality
focus within the bank-loan segment, as it has been subject to some of the
same stepped-up leveraging seen within lower-rated corporates.
The Fund remains positioned for a potential flattening of the Treasury
curve, with relatively light exposure to the front (shorter) end. Given our
view that interest rates are on an upward path overall, the portfolio's
duration continues to be underweight (short) versus the Bloomberg Barclays
Index.
8 Pioneer Bond Fund | Annual Report | 6/30/18
Please refer to the Schedule of Investments on pages 19-96 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, depressed valuations, decreased liquidity and heightened
uncertainty. These conditions may continue, recur, worsen or spread.
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 fail-
ure of the issuers of the 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.
The securities issued by U.S. Government-sponsored entities (i.e., Fannie Mae,
Freddie Mac) are neither guaranteed nor issued by the U.S. Government.
The portfolio 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.
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.
These risks may increase share price volatility.
Before investing, consider the product's investment objectives, risks, charges
and expenses. Contact your advisor or Amundi Pioneer Asset Management, 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.
Pioneer Bond Fund | Annual Report | 6/30/18 9
Portfolio Summary | 6/30/18
Portfolio Diversification*
--------------------------------------------------------------------------------
(As a percentage of total investments)**
[THE FOLLOWING DATA WAS REPRESENTED AS A PIE CHART IN THE PRINTED MATERIAL]
Corporate Bonds 37.5%
U.S. Government And Agency Obligations 29.6%
Collateralized Mortgage Obligations 21.0%
Asset Backed Securities 5.0%
Senior Secured Floating Rate Loan Interests 3.1%
Municipal Bonds 2.3%
Convertible Preferred Stocks 0.9%
Foreign Government Bonds 0.6%
* Includes investments in Insurance-Linked Securities totaling 3.6% of total
investments.
10 Largest Holdings
--------------------------------------------------------------------------------
(As a percentage of total investments)**
1. U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46 1.58%
---------------------------------------------------------------------------------------------
2. U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 1.30
---------------------------------------------------------------------------------------------
3. U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 1.29
---------------------------------------------------------------------------------------------
4. Bank of America Corp., 7.25% 0.47
---------------------------------------------------------------------------------------------
5. Wells Fargo & Co., 7.5% 0.47
---------------------------------------------------------------------------------------------
6. Canadian Imperial Bank of Commerce, 2.678% (3 Month USD LIBOR + 32 bps), 2/2/21 0.45
---------------------------------------------------------------------------------------------
7. Fannie Mae, 3.5%, 8/1/47 0.38
---------------------------------------------------------------------------------------------
8. Liberty Mutual Insurance Co., 7.697%, 10/15/97 (144A) 0.37
---------------------------------------------------------------------------------------------
9. Williams Cos., Inc., 5.75%, 6/24/44 0.37
---------------------------------------------------------------------------------------------
10. Commonwealth of Pennsylvania, 1st Series, 4.0%, 1/1/29 0.36
---------------------------------------------------------------------------------------------
** Excludes temporary cash 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 listed.
10 Pioneer Bond Fund | Annual Report | 6/30/18
Prices and Distributions | 6/30/18
Net Asset Value per Share
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Class 6/30/18 6/30/17
--------------------------------------------------------------------------------
A $ 9.45 $ 9.71
--------------------------------------------------------------------------------
C $ 9.35 $ 9.60
--------------------------------------------------------------------------------
K $ 9.45 $ 9.71
--------------------------------------------------------------------------------
R $ 9.54 $ 9.80
--------------------------------------------------------------------------------
Y $ 9.36 $ 9.62
--------------------------------------------------------------------------------
Distributions per Share: 7/1/17-6/30/18
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net Investment Short-Term Long-Term
Class Income Capital Gains Capital Gains
--------------------------------------------------------------------------------
A $ 0.2764 $ -- $ --
--------------------------------------------------------------------------------
C $ 0.2024 $ -- $ --
--------------------------------------------------------------------------------
K $ 0.3143 $ -- $ --
--------------------------------------------------------------------------------
R $ 0.2547 $ -- $ --
--------------------------------------------------------------------------------
Y $ 0.3006 $ -- $ --
--------------------------------------------------------------------------------
Index Definition
--------------------------------------------------------------------------------
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged measure of the
U.S. 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 12-16.
Pioneer Bond Fund | Annual Report | 6/30/18 11
Performance Update | 6/30/18 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 Barclays U.S.
Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2018)
--------------------------------------------------------------------------------
Bloomberg
Net Public Barclays U.S.
Asset Offering Aggregate
Value Price Bond
Period (NAV) (POP) Index
--------------------------------------------------------------------------------
10 years 4.69% 4.21% 3.72%
5 years 2.79 1.85 2.27
1 year 0.14 -4.36 -0.40
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
0.99% 0.85%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/08 $ 9,550 $ 10,000
6/09 $ 9,803 $ 10,605
6/10 $ 11,245 $ 11,612
6/11 $ 12,041 $ 12,065
6/12 $ 12,752 $ 12,967
6/13 $ 13,162 $ 12,877
6/14 $ 13,977 $ 13,441
6/15 $ 14,161 $ 13,690
6/16 $ 14,717 $ 14,512
6/17 $ 15,082 $ 14,466
6/18 $ 15,104 $ 14,409
Call 1-800-225-6292 or visit www.amundipioneer.com 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 net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2019, for Class A shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
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.
12 Pioneer Bond Fund | Annual Report | 6/30/18
Performance Update | 6/30/18 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 Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2018)
--------------------------------------------------------------------------------
Bloomberg
Barclays U.S.
Aggregate
If If Bond
Period Held Redeemed Index
--------------------------------------------------------------------------------
10 years 3.84% 3.84% 3.72%
5 years 1.99 1.99 2.27
1 year -0.52 -0.52 -0.40
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2017)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
1.59%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/08 $ 10,000 $ 10,000
6/09 $ 10,183 $ 10,605
6/10 $ 11,571 $ 11,612
6/11 $ 12,273 $ 12,065
6/12 $ 12,901 $ 12,967
6/13 $ 13,202 $ 12,877
6/14 $ 13,888 $ 13,441
6/15 $ 13,955 $ 13,690
6/16 $ 14,413 $ 14,512
6/17 $ 14,646 $ 14,466
6/18 $ 14,570 $ 14,409
Call 1-800-225-6292 or visit www.amundipioneer.com 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 also subject to a 1% contingent
deferred sales charge (CDSC). If you paid a 1% sales charge, your returns would
be lower than those shown above. "If Held" results represent the percent change
in net asset value per share. Returns would have been lower had sales charges
been reflected. 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 | 6/30/18 13
Performance Update | 6/30/18 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 Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2018)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 4.90% 3.72%
5 years 3.16 2.27
1 year 0.54 -0.40
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2017)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
0.47%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/08 $ 5,000,000 $ 5,000,000
6/09 $ 5,132,374 $ 5,302,308
6/10 $ 5,887,343 $ 5,805,945
6/11 $ 6,304,129 $ 6,032,478
6/12 $ 6,676,618 $ 6,483,320
6/13 $ 6,902,532 $ 6,438,741
6/14 $ 7,342,220 $ 6,720,311
6/15 $ 7,474,418 $ 6,845,182
6/16 $ 7,797,524 $ 7,255,978
6/17 $ 8,021,638 $ 7,233,140
6/18 $ 8,065,084 $ 7,204,429
Call 1-800-225-6292 or visit www.amundipioneer.com 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.
14 Pioneer Bond Fund | Annual Report | 6/30/18
Performance Update | 6/30/18 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 Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2018)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 4.35% 3.72%
5 years 2.50 2.27
1 year -0.08 -0.40
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
1.24% 1.10%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/08 $ 10,000 $ 10,000
6/09 $ 10,235 $ 10,605
6/10 $ 11,686 $ 11,612
6/11 $ 12,466 $ 12,065
6/12 $ 13,161 $ 12,967
6/13 $ 13,530 $ 12,877
6/14 $ 14,308 $ 13,441
6/15 $ 14,460 $ 13,690
6/16 $ 14,989 $ 14,512
6/17 $ 15,323 $ 14,466
6/18 $ 15,312 $ 14,409
Call 1-800-225-6292 or visit www.amundipioneer.com 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 net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2019, for Class R shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
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 | 6/30/18 15
Performance Update | 6/30/18 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 Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2018)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 4.95% 3.72%
5 years 3.05 2.27
1 year 0.40 -0.40
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
0.59% 0.58%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/08 $ 5,000,000 $ 5,000,000
6/09 $ 5,147,497 $ 5,302,308
6/10 $ 5,922,684 $ 5,805,945
6/11 $ 6,352,115 $ 6,032,478
6/12 $ 6,750,565 $ 6,483,320
6/13 $ 6,975,844 $ 6,438,741
6/14 $ 7,423,154 $ 6,720,311
6/15 $ 7,540,906 $ 6,845,182
6/16 $ 7,859,133 $ 7,255,978
6/17 $ 8,076,189 $ 7,233,140
6/18 $ 8,108,529 $ 7,204,429
Call 1-800-225-6292 or visit www.amundipioneer.com 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 net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2019, for Class Y shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
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 | 6/30/18
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 (divided by) $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, 2018 through June 30, 2018.
--------------------------------------------------------------------------------
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 1/1/18
--------------------------------------------------------------------------------
Ending Account $1,001.40 $ 994.80 $1,005.40 $ 999.20 $1,004.00
Value (after
expenses)
on 6/30/18
--------------------------------------------------------------------------------
Expenses Paid $ 4.18 $ 7.86 $ 2.26 $ 5.41 $ 2.85
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized net expense ratio of 0.85%,
1.60%, 0.46%, 1.10%, and 0.58% 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 one-half year period).
Pioneer Bond Fund | Annual Report | 6/30/18 17
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, 2018 through June 30, 2018.
--------------------------------------------------------------------------------
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 1/1/18
--------------------------------------------------------------------------------
Ending Account $1,020.58 $1,016.86 $1,022.51 $1,019.34 $1,021.92
Value (after
expenses)
on 6/30/18
--------------------------------------------------------------------------------
Expenses Paid $ 4.26 $ 8.00 $ 2.31 $ 5.51 $ 2.91
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized net expense ratio of 0.85%,
1.60%, 0.46%, 1.10%, and 0.58% 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 one-half year period).
18 Pioneer Bond Fund | Annual Report | 6/30/18
Schedule of Investments | 6/30/18
------------------------------------------------------------------------------------------------
Shares Value
------------------------------------------------------------------------------------------------
UNAFFILIATED ISSUERS -- 98.9%
CONVERTIBLE PREFERRED STOCKS --
0.9% of Net Assets
BANKS -- 0.9%
Diversified Banks -- 0.9%
18,315(a) Bank of America Corp., 7.25% $ 22,902,908
18,101(a) Wells Fargo & Co., 7.5% 22,797,485
---------------
Total Banks $ 45,700,393
------------------------------------------------------------------------------------------------
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $44,039,805) $ 45,700,393
------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($)
------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES --
4.9% of Net Assets
BANKS -- 4.4%
Thrifts & Mortgage Finance -- 4.4%
883,431(b) 321 Henderson Receivables I LLC, Series 2005-1A,
Class A1, 2.303% (1 Month USD LIBOR + 23 bps),
11/15/40 (144A) $ 841,328
500,000 321 Henderson Receivables III LLC, Series 2008-1A,
Class B, 8.37%, 1/15/46 (144A) 587,102
4,508,701 ACC Trust, Series 2018-1, Class A, 3.7%,
12/21/20 (144A) 4,510,031
4,300,000 Access Point Funding I LLC, Series 2017-A, Class B,
3.97%, 4/15/29 (144A) 4,269,187
4,664,750 Applebee's Funding LLC / IHOP Funding LLC,
Series 2014-1, Class A2, 4.277%, 9/5/44 (144A) 4,626,767
1,500,000 Ascentium Equipment Receivables Trust, Series
2016-2A, Class D, 4.2%, 9/12/22 (144A) 1,506,513
2,100,000 Ascentium Equipment Receivables Trust, Series
2017-2A, Class D, 3.56%, 10/10/25 (144A) 2,051,150
1,100,000 Ascentium Equipment Receivables Trust, Series
2018-1A, Class D, 3.99%, 12/11/23 (144A) 1,100,219
1,750,000 Avid Automobile Receivables Trust, Series 2018-1,
Class B, 3.85%, 7/15/24 (144A) 1,729,821
699,990 Axis Equipment Finance Receivables III LLC, Series
2015-1A, Class C, 3.41%, 4/20/20 (144A) 699,960
800,000 Axis Equipment Finance Receivables IV LLC, Series
2018-1A, Class C, 3.74%, 4/22/24 (144A) 794,610
1,249,999 Axis Equipment Finance Receivables IV LLC,
Series 2018-1A, Class D, 3.98%, 4/22/24 (144A) 1,241,404
6,440,319(c) Bayview Koitere Fund Trust, Series 2017-RT4,
Class A, 3.5%, 7/28/57 (144A) 6,423,537
1,650,000 BCC Funding Corp. X, Series 2015-1, Class C,
3.622%, 11/20/20 (144A) 1,645,776
150,771(b) Bear Stearns Asset Backed Securities I Trust, Series
2005-FR1, Class M1, 2.841% (1 Month USD
LIBOR + 75 bps), 6/25/35 151,887
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 19
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
214,941(b) Bear Stearns Asset Backed Securities Trust, Series
2006-SD2, Class A3, 2.581% (1 Month USD
LIBOR + 49 bps), 6/25/36 $ 214,773
1,294,949 BXG Receivables Note Trust, Series 2015-A,
Class A, 2.88%, 5/2/30 (144A) 1,271,628
1,400,000 CIG Auto Receivables Trust, Series 2017-1A,
Class B, 3.81%, 5/15/23 (144A) 1,378,300
7,172,767(c) Citigroup Mortgage Loan Trust, Inc., Series
2017-RP2, Class A1, 3.25%, 7/25/67 (144A) 7,004,905
8,897,314(c) Citigroup Mortgage Loan Trust, Inc., Series
2018-RP1, Class A1, 3.0%, 9/25/64 (144A) 8,751,867
1,916,302(b) Commonbond Student Loan Trust, Series 2017-BGS,
Class A2, 2.741% (1 Month USD LIBOR + 65 bps),
9/25/42 (144A) 1,925,845
353,901 Conn Funding II LP, Series 2017-B, Class A, 2.73%,
7/15/20 (144A) 353,846
3,000,000 CoreVest American Finance Trust, Series 2017-1,
Class C, 3.756%, 10/15/49 (144A) 2,929,118
1,500,000 Credit Acceptance Auto Loan Trust, Series 2016-2A,
Class C, 4.29%, 11/15/24 (144A) 1,512,042
629,107 CRG Issuer, Series 2015-1, Class A, 4.07%,
7/10/22 (144A) 625,961
58,853(b) CWABS Asset-Backed Certificates Trust, Series
2004-7, Class MV3, 3.141% (1 Month USD
LIBOR + 105 bps), 12/25/34 58,877
724,061(b) DRB Prime Student Loan Trust, Series 2016-B,
Class A1, 3.891% (1 Month USD LIBOR + 180 bps),
6/25/40 (144A) 751,024
3,750,000 Drive Auto Receivables Trust, Series 2018-1,
Class C, 3.22%, 3/15/23 3,736,557
330,657(b) Drug Royalty II LP 2, Series 2014-1, Class A1,
5.198% (3 Month USD LIBOR + 285 bps),
7/15/23 (144A) 333,981
1,300,000 Engs Commercial Finance Trust, Series 2016-1A,
Class B, 3.45%, 3/22/22 (144A) 1,256,930
1,900,000 Engs Commercial Finance Trust, Series 2016-1A,
Class D, 5.22%, 1/22/24 (144A) 1,837,906
2,000,000 Engs Commercial Finance Trust, Series 2018-1A,
Class B, 3.8%, 2/22/23 (144A) 1,993,937
1,400,000 Engs Commercial Finance Trust, Series 2018-1A,
Class C, 4.05%, 2/22/23 (144A) 1,395,397
1,500,000 Exeter Automobile Receivables Trust, Series
2018-1A, Class C, 3.03%, 1/17/23 (144A) 1,484,959
3,598,173(b) Fieldstone Mortgage Investment Trust, Series
2005-3, Class 1A, 2.581% (1 Month USD
LIBOR + 49 bps), 2/25/36 3,559,638
4,314,000(c) Finance of America Structured Securities Trust,
Series 2017-HB1, Class M1, 2.84%,
11/25/27 (144A) 4,275,821
The accompanying notes are an integral part of these financial statements.
20 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,000,000 Foursight Capital Automobile Receivables Trust,
Series 2018-1, Class D, 4.19%, 11/15/23 (144A) $ 996,473
2,029,904(b) Fremont Home Loan Trust, Series 2006-2,
Class 1A1, 2.251% (1 Month USD
LIBOR + 16 bps), 2/25/36 1,992,718
415,000 GLS Auto Receivables Trust, Series 2017-1A,
Class B, 2.98%, 12/15/21 (144A) 411,923
141,396(d) GMAT Trust, Series 2013-1A, Class A, 6.967%,
11/25/43 (144A) 141,529
917,651(b) GSRPM Mortgage Loan Trust, Series 2003-2,
Class M1, 3.441% (1 Month USD
LIBOR + 135 bps), 6/25/33 913,853
177,685(b) GSRPM Mortgage Loan Trust, Series 2006-2,
Class A2, 2.391% (1 Month USD LIBOR + 30 bps),
9/25/36 (144A) 177,568
4,895,000 Hardee's Funding LLC, Series 2018-1A, Class AII,
4.959%, 6/20/48 (144A) 4,934,356
2,250,000(b) Hertz Fleet Lease Funding LP, Series 2016-1,
Class E, 5.546% (1 Month USD LIBOR + 350 bps),
4/10/30 (144A) 2,257,622
1,850,000 Hertz Fleet Lease Funding LP, Series 2018-1,
Class C, 3.77%, 5/10/32 (144A) 1,850,786
2,800,000 Hertz Fleet Lease Funding LP, Series 2018-1,
Class D, 4.17%, 5/10/32 (144A) 2,801,407
2,821,250 HOA Funding LLC, Series 2014-1A, Class A2,
4.846%, 8/20/44 (144A) 2,753,963
352,790(b) Home Equity Mortgage Loan Asset-Backed Trust,
Series 2005-C, Class AII3, 2.461% (1 Month USD
LIBOR + 37 bps), 10/25/35 352,801
6,640,000(b) Home Partners of America Trust, Series 2018-1,
Class A, 2.834% (1 Month USD LIBOR + 90 bps),
7/17/37 (144A) 6,643,146
828,560 Icon Brand Holdings LLC, Series 2012-1A, Class A,
4.229%, 1/25/43 (144A) 781,765
225,566 Icon Brand Holdings LLC, Series 2013-1A, Class A2,
4.352%, 1/25/43 (144A) 205,495
3,650,000(b) Invitation Homes Trust, Series 2018-SFR1, Class C,
3.335% (1 Month USD LIBOR + 125 bps),
3/17/37 (144A) 3,654,427
49,408(b) Irwin Whole Loan Home Equity Trust, Series
2003-C, Class M1, 3.091% (1 Month USD
LIBOR + 100 bps), 6/25/28 49,305
4,000,000 JG Wentworth XLI LLC, Series 2018-1A, Class A,
3.74%, 10/17/72 (144A) 3,897,976
408,842 JG Wentworth XXII LLC, Series 2010-3A, Class A,
3.82%, 12/15/48 (144A) 413,087
3,750,000 Kabbage Asset Securitization LLC, Series 2017-1,
Class A, 4.571%, 3/15/22 (144A) 3,785,920
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 21
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,200,000 Kabbage Asset Securitization LLC, Series 2017-1,
Class B, 5.794%, 3/15/22 (144A) $ 1,224,094
46,128 Lehman ABS Manufactured Housing Contract Trust,
Series 2001-B, Class A1, 3.01%, 4/15/40 46,190
3,383,000(c) Mill City Mortgage Loan Trust 2017-1, Series 2017-1,
Class M2, 3.25%, 11/25/58 (144A) 3,240,627
600,000 Nationstar HECM Loan Trust, Series 2017-1A,
Class M1, 2.942%, 5/25/27 (144A) 595,302
3,159,098(b) New Century Home Equity Loan Trust, Series
2005-2, Class M2, 2.766% (1 Month USD
LIBOR + 68 bps), 6/25/35 3,161,189
5,700,000 New Residential Advance Receivables Trust Advance
Receivables Backed Notes, Series 2016-T2,
Class BT2, 3.02%, 10/15/49 (144A) 5,634,507
4,255,951(b) Newtek Small Business Loan Trust, Series 2017-1,
Class A, 4.091% (1 Month USD LIBOR + 200 bps),
2/15/43 (144A) 4,253,149
1,200,000(b) NextGear Floorplan Master Owner Trust, Series
2016-2A, Class A1, 3.173% (1 Month USD
LIBOR + 110 bps), 9/15/21 (144A) 1,209,418
2,812,573(b) NovaStar Mortgage Funding Trust, Series 2005-3,
Class M1, 2.635% (1 Month USD
LIBOR + 68 bps), 1/25/36 2,805,150
1,000,000 Ocwen Master Advance Receivables Trust, Series
2016-T1, Class AT1, 2.521%, 8/17/48 (144A) 1,000,646
1,775,000 Ocwen Master Advance Receivables Trust, Series
2016-T2, Class BT2, 3.265%, 8/16/49 (144A) 1,758,670
3,221,000 Ocwen Master Advance Receivables Trust, Series
2017-T1, Class DT1, 3.536%, 9/15/48 (144A) 3,214,731
1,600,000 Oportun Funding III LLC, Series 2016-B, Class A,
3.69%, 7/8/21 (144A) 1,599,680
1,200,000(b) Option One Mortgage Loan Trust, Series 2005-3,
Class M2, 2.826% (1 Month USD
LIBOR + 74 bps), 8/25/35 1,199,569
1,100,000 Oxford Finance Funding LLC, Series 2016-1A,
Class A, 3.968%, 6/17/24 (144A) 1,095,104
2,000,000 Purchasing Power Funding LLC, Series 2018-A,
Class A, 3.34%, 8/15/22 (144A) 1,990,938
97,794(b) RAAC Trust, Series 2006-RP2, Class A, 2.341%
(1 Month USD LIBOR + 25 bps), 2/25/37 (144A) 97,737
2,974,024(d) RCO Mortgage LLC, Series 2017-1, Class A1, 3.375%,
8/25/22 (144A) 2,957,653
2,247,137 SCF Equipment Leasing LLC, Series 2017-2A,
Class A, 3.41%, 12/20/23 (144A) 2,223,945
2,250,000 SCF Equipment Leasing LLC, Series 2018-1A,
Class C, 4.21%, 4/20/27 (144A) 2,271,919
689,043 SCF Equipment Trust LLC, Series 2016-1A, Class A,
3.62%, 11/20/21 (144A) 686,891
The accompanying notes are an integral part of these financial statements.
22 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
364,812 Skopos Auto Receivables Trust, Series 2015-1A,
Class B, 5.43%, 12/15/23 (144A) $ 365,942
1,476,250 STORE Master Funding I LLC, Series 2015-1A,
Class A1, 3.75%, 4/20/45 (144A) 1,450,838
10,614(d) Structured Asset Securities Corp., Series 2004-19XS,
Class A6B, 5.022%, 10/25/34 10,857
417,667(d) Terwin Mortgage Trust, Series 2005-16HE, Class AF2,
4.761%, 9/25/36 418,453
3,200,000 Tidewater Auto Receivables Trust, Series 2018-AA,
Class C, 3.84%, 11/15/24 (144A) 3,199,102
1,078,000 Tidewater Auto Receivables Trust, Series 2018-AA,
Class D, 4.3%, 11/15/24 (144A) 1,077,694
2,000,000 Tidewater Sales Finance Master Trust, Series
2017-AA, Class A, 4.55%, 4/15/21 (144A) 1,998,909
918,878 TLF National Tax Lien Trust, Series 2017-1A, Class B,
3.84%, 12/15/29 (144A) 913,393
4,200,000(c) Towd Point Mortgage Trust, Series 2016-3, Class M1,
3.5%, 4/25/56 (144A) 4,137,304
3,000,000(c) Towd Point Mortgage Trust, Series 2016-5, Class M1,
3.375%, 10/25/56 (144A) 2,948,272
4,985,000(c) Towd Point Mortgage Trust, Series 2017-4, Class A2,
3.0%, 6/25/57 (144A) 4,733,847
11,500,000(c) Towd Point Mortgage Trust, Series 2017-6, Class A2,
3.0%, 10/25/57 (144A) 10,855,335
7,155,000(c) Towd Point Mortgage Trust, Series 2018-3, Class A1,
3.75%, 5/25/58 (144A) 7,156,431
3,000,000(b) Trafigura Securitisation Finance Plc, Series 2017-1A,
Class A1, 2.923% (1 Month USD LIBOR + 85 bps),
12/15/20 (144A) 3,007,500
8,500,000 Tricon American Homes Trust, Series 2017-SFR2,
Class B, 3.275%, 1/17/36 (144A) 8,238,914
836,891 Welk Resorts LLC, Series 2015-AA, Class A, 2.79%,
6/16/31 (144A) 821,535
2,617,201 Welk Resorts LLC, Series 2017-AA, Class B, 3.41%,
6/15/33 (144A) 2,555,285
580,956 Westlake Automobile Receivables Trust, Series
2016-1A, Class C, 3.29%, 9/15/21 (144A) 581,743
1,000,000 Westlake Automobile Receivables Trust, Series
2017-2A, Class C, 2.59%, 12/15/22 (144A) 989,386
1,900,000 Westlake Automobile Receivables Trust, Series
2018-2A, Class D, 4.0%, 1/16/24 (144A) 1,906,659
2,500,000 WRG Debt Funding II LLC, Series 2017-1, Class A,
4.458%, 3/15/26 (144A) 2,490,625
---------------
Total Banks $ 219,973,857
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 23
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Hotels, Resorts & Cruise Lines -- 0.2%
542,483 Westgate Resorts LLC, Series 2015-1A, Class A,
2.75%, 5/20/27 (144A) $ 540,184
2,149,180 Westgate Resorts LLC, Series 2016-1A, Class B,
4.5%, 12/20/28 (144A) 2,141,640
1,443,759 Westgate Resorts LLC, Series 2017-1A, Class A,
3.05%, 12/20/30 (144A) 1,429,829
7,719,762 Westgate Resorts LLC, Series 2018-1A, Class C,
4.1%, 12/20/31 (144A) 7,697,034
---------------
Total Consumer Services $ 11,808,687
------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.2%
Consumer Finance -- 0.1%
2,100,000 First Investors Auto Owner Trust, Series 2014-3A,
Class C, 2.97%, 11/16/20 (144A) $ 2,100,384
300,000 First Investors Auto Owner Trust, Series 2017-2A,
Class C, 3.0%, 8/15/23 (144A) 293,665
---------------
$ 2,394,049
------------------------------------------------------------------------------------------------
Other Diversified Financial Services -- 0.1%
175,046 Diamond Resorts Owner Trust, Series 2015-1,
Class B, 3.17%, 7/20/27 (144A) $ 174,553
3,202,171 Spirit Master Funding LLC, Series 2014-4A, Class A2,
4.629%, 1/20/45 (144A) 3,219,070
52,556 United States Small Business Administration,
6.14%, 1/1/22 54,212
220,263 United States Small Business Administration, Series
2005-20B, Class 1, 4.625%, 2/1/25 225,147
208,198 United States Small Business Administration, Series
2005-20E, Class 1, 4.84%, 5/1/25 213,499
282,388 United States Small Business Administration, Series
2008-20D, Class 1, 5.37%, 4/1/28 295,926
320,977 United States Small Business Administration, Series
2008-20H, Class 1, 6.02%, 8/1/28 341,224
207,513 United States Small Business Administration, Series
2008-20J, Class 1, 5.63%, 10/1/28 220,290
169,486 United States Small Business Administration, Series
2008-20L, Class 1, 6.22%, 12/1/28 182,747
71,834 United States Small Business Administration, Series
2009-20A, Class 1, 5.72%, 1/1/29 76,324
178,142 United States Small Business Administration, Series
2009-20I, Class 1, 4.2%, 9/1/29 183,075
---------------
$ 5,186,067
------------------------------------------------------------------------------------------------
Specialized Finance -- 0.0%+
702,061 Hercules Capital Funding Trust, Series 2014-1A,
Class A, 3.524%, 4/16/21 (144A) $ 702,281
---------------
Total Diversified Financials $ 8,282,397
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
24 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
ENERGY -- 0.1%
Oil & Gas Exploration & Production -- 0.1%
4,200,000 Four Seas LP, Series 2017-1A, Class A2, 5.927%,
8/28/27 (144A) $ 4,017,563
---------------
Total Energy $ 4,017,563
------------------------------------------------------------------------------------------------
TOTAL ASSET BACKED SECURITIES
(Cost $245,938,407) $ 244,082,504
------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
20.5% of Net Assets
BANKS -- 19.7%
Thrifts & Mortgage Finance -- 19.7%
3,190,000 A10 Term Asset Financing LLC, Series 2017-1A,
Class B, 3.15%, 3/15/36 (144A) $ 3,120,918
4,226,255(c) Agate Bay Mortgage Trust, Series 2015-1, Class A13,
3.5%, 1/25/45 (144A) 4,161,377
1,187,472(c) Agate Bay Mortgage Trust, Series 2015-5, Class A3,
3.5%, 7/25/45 (144A) 1,165,578
4,058,700(c) Agate Bay Mortgage Trust, Series 2015-7, Class B3,
3.765%, 10/25/45 (144A) 3,911,932
8,232,263(c) Agate Bay Mortgage Trust, Series 2016-3, Class A5,
3.5%, 8/25/46 (144A) 8,176,308
69,947(b) Alternative Loan Trust, Series 2003-14T1, Class A9,
2.541% (1 Month USD LIBOR + 45 bps), 8/25/18 46,375
2,800,000 American Homes 4 Rent, Series 2014-SFR3,
Class C, 4.596%, 12/17/36 (144A) 2,880,334
700,000 American Homes 4 Rent, Series 2014-SFR3,
Class D, 5.04%, 12/17/36 (144A) 731,583
1,300,000 American Homes 4 Rent, Series 2015-SFR1,
Class C, 4.11%, 4/17/52 (144A) 1,304,686
5,200,000(b) Arbor Realty Commercial Real Estate Notes, Ltd.,
Series 2017-FL1, Class B, 4.573% (1 Month USD
LIBOR + 250 bps), 4/15/27 (144A) 5,317,000
2,477,720 B2R Mortgage Trust, Series 2015-1, Class A1,
2.524%, 5/15/48 (144A) 2,444,406
5,900,000(b) BAMLL Commercial Mortgage Securities Trust,
Series 2014-FL1, Class B, 5.747% (1 Month USD
LIBOR + 220 bps), 12/15/31 (144A) 5,929,263
7,460,000 BANK, Series 2017-BNK5, Class AS,
3.624%, 6/15/60 7,310,856
9,000,000 BANK, Series 2017-BNK7, Class AS,
3.748%, 9/15/60 8,893,259
5,278,301(d)(e) Bayview Commercial Asset Trust, Series 2007-2A,
Class IO, 0.0%, 7/25/37 (144A) 1
7,681,832(c) Bayview Opportunity Master Fund IVb Trust, Series
2017-RT2, Class A, 3.5%, 8/28/57 (144A) 7,653,033
3,569,863(c) Bayview Opportunity Master Fund IVb Trust, Series
2017-SPL4, Class A, 3.5%, 1/28/55 (144A) 3,563,234
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 25
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
721,924(c) Bear Stearns Commercial Mortgage Securities Trust,
Series 2005-PWR7, Class B, 5.214%, 2/11/41 $ 719,223
4,238,255(b) Bellemeade Re, Ltd., Series 2017-1, Class M1,
3.791% (1 Month USD LIBOR + 170 bps),
10/25/27 (144A) 4,260,942
3,440,000(b) Bellemeade Re, Ltd., Series 2018-1A, Class M1B,
3.691% (1 Month USD LIBOR + 160 bps),
4/25/28 (144A) 3,449,719
7,000,000 Benchmark Mortgage Trust, Series 2018-B2,
Class A4, 3.615%, 2/15/51 6,944,139
3,250,000 CCRESG Commercial Mortgage Trust, Series
2016-HEAT, Class A, 3.357%, 4/10/29 (144A) 3,234,439
183,737(c) CHL Mortgage Pass-Through Trust, Series 2003-56,
Class 4A2, 3.766%, 12/25/33 188,050
9,883,656(c) CIM Trust, Series 2018-J1, Class A10, 3.5%,
3/25/48 (144A) 9,758,399
3,400,000(c) Citigroup Commercial Mortgage Trust, Series
2014-GC19, Class B, 4.805%, 3/10/47 3,502,022
6,000,000(c) Citigroup Commercial Mortgage Trust, Series
2014-GC25, Class B, 4.345%, 10/10/47 6,031,291
3,100,000 Citigroup Commercial Mortgage Trust, Series
2015-GC27, Class A5, 3.137%, 2/10/48 3,020,208
4,621,000 Citigroup Commercial Mortgage Trust, Series
2016-P5, Class D, 3.0%, 10/10/49 (144A) 3,668,745
11,753,386(c) Citigroup Mortgage Loan Trust, Series 2018-RP2,
Class A1, 3.5%, 2/25/58 (144A) 11,723,423
3,567,344 Colony American Finance, Ltd., Series 2015-1,
Class A, 2.896%, 10/15/47 (144A) 3,544,914
2,400,000(d) Colony American Finance, Ltd., Series 2016-1,
Class D, 5.972%, 6/15/48 (144A) 2,502,307
2,400,000(d) Colony American Finance, Ltd., Series 2016-2,
Class D, 5.028%, 11/15/48 (144A) 2,424,564
2,100,000(b) Colony Starwood Homes Trust, Series 2016-2A,
Class B, 3.823% (1 Month USD LIBOR + 175 bps),
12/17/33 (144A) 2,100,678
1,100,000 COMM Mortgage Trust, Series 2012-CR2, Class AM,
3.791%, 8/15/45 1,113,772
5,000,000(c) COMM Mortgage Trust, Series 2013-CR11, Class C,
5.334%, 8/10/50 (144A) 5,087,765
1,900,000 COMM Mortgage Trust, Series 2013-LC6, Class A4,
2.941%, 1/10/46 1,867,907
7,325,000(c) COMM Mortgage Trust, Series 2014-CR20, Class C,
4.653%, 11/10/47 7,247,605
3,800,000(b) COMM Mortgage Trust, Series 2014-FL5, Class B,
3.183% (1 Month USD LIBOR + 215 bps),
10/15/31 (144A) 3,784,718
4,500,000(c) COMM Mortgage Trust, Series 2014-UBS3, Class C,
4.942%, 6/10/47 4,463,054
The accompanying notes are an integral part of these financial statements.
26 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
4,100,000 COMM Mortgage Trust, Series 2014-UBS4, Class A4,
3.42%, 8/10/47 $ 4,074,860
5,200,000 COMM Mortgage Trust, Series 2015-3BP, Class A,
3.178%, 2/10/35 (144A) 5,059,898
4,000,000(c) COMM Mortgage Trust, Series 2015-CR23, Class CMD,
3.807%, 5/10/48 (144A) 3,961,523
3,104,000(c) COMM Mortgage Trust, Series 2015-CR25, Class B,
4.696%, 8/10/48 3,219,898
6,300,000 COMM Mortgage Trust, Series 2015-CR26, Class A3,
3.359%, 10/10/48 6,176,165
6,425,000 COMM Mortgage Trust, Series 2015-LC23, Class A4,
3.774%, 10/10/48 6,466,425
2,963,838 Commercial Mortgage Pass Through Certificates,
Series 2012-CR3, Class A3, 2.822%, 10/15/45 2,904,980
7,120,000(c) CSAIL Commercial Mortgage Trust, Series 2016-C5,
Class C, 4.687%, 11/15/48 7,058,327
2,090,000 CSAIL Commercial Mortgage Trust, Series 2016-C6,
Class A5, 3.09%, 1/15/49 2,004,538
9,042,263(c) CSMC Trust, Series 2013-6, Class 2A3, 3.5%,
8/25/43 (144A) 8,923,022
5,069,903(c) CSMC Trust, Series 2013-7, Class B3, 3.575%,
8/25/43 (144A) 4,948,654
4,446,628(c) CSMC Trust, Series 2013-IVR3, Class A1, 2.5%,
5/25/43 (144A) 4,148,037
4,099,316(c) CSMC Trust, Series 2013-IVR3, Class A3, 1.55%,
5/25/43 (144A) 3,949,204
3,672,367(c) CSMC Trust, Series 2013-IVR3, Class B2, 3.46%,
5/25/43 (144A) 3,602,772
2,756,901(c) CSMC Trust, Series 2013-IVR3, Class B4, 3.46%,
5/25/43 (144A) 2,576,721
2,907,156(c) CSMC Trust, Series 2013-IVR5, Class B4, 3.659%,
10/25/43 (144A) 2,828,055
8,842,828(c) CSMC Trust, Series 2013-TH1, Class A1, 2.13%,
2/25/43 (144A) 8,208,850
3,558,660(c) CSMC Trust, Series 2017-HL2, Class A1, 3.5%,
10/25/47 (144A) 3,474,366
7,276,789(c) CSMC Trust, Series 2017-HL2, Class A3, 3.5%,
10/25/47 (144A) 7,225,510
7,367,712(c) CSMLT Trust, Series 2015-1, Class A9, 3.5%,
5/25/45 (144A) 7,241,083
3,470,490(c) CSMLT Trust, Series 2015-2, Class A7, 3.5%,
8/25/45 (144A) 3,424,725
6,000,000 DBJPM Mortgage Trust, Series 2016-C3, Class A5,
2.89%, 9/10/49 5,661,756
2,692,983(c) Deephaven Residential Mortgage Trust, Series
2017-3A, Class A1, 2.577%, 10/25/47 (144A) 2,676,298
6,128,095(c) Deephaven Residential Mortgage Trust, Series
2018-1A, Class A1, 2.976%, 12/25/57 (144A) 6,091,603
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 27
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,197,000(c) FirstKey Mortgage Trust, Series 2015-1, Class B4,
3.924%, 3/25/45 (144A) $ 2,032,225
10,535,117(c) Flagstar Mortgage Trust, Series 2018-1, Class A3,
3.5%, 3/25/48 (144A) 10,340,881
5,504,001(c) Flagstar Mortgage Trust, Series 2018-2, Class A14,
3.5%, 4/25/48 (144A) 5,336,991
7,930,715(c) Flagstar Mortgage Trust, Series 2018-2, Class B1,
4.085%, 4/25/48 (144A) 7,918,304
9,855,675(c) Flagstar Mortgage Trust, Series 2018-3INV, Class A3,
4.0%, 5/25/48 (144A) 9,828,073
4,630,000(c) GAHR Commercial Mortgage Trust, Series 2015-NRF,
Class CFX, 3.495%, 12/15/34 (144A) 4,615,537
1,000,000 GS Mortgage Securities Corp. II, Series 2013-GC10,
Class B, 3.682%, 2/10/46 (144A) 989,818
5,030,000(c) GS Mortgage Securities Trust, Series 2013-GC12,
Class C, 4.179%, 6/10/46 4,868,298
3,657,637(c) GS Mortgage-Backed Securities Trust, Series
2014-EB1A, Class B3, 3.124%, 7/25/44 (144A) 3,673,081
750,000(b) Home Partners of America Trust, Series 2017-1,
Class B, 3.435% (1 Month USD LIBOR + 135 bps),
7/17/34 (144A) 751,417
272,614(b) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2006-LDP9, Class A3SF, 2.228%
(1 Month USD LIBOR + 16 bps), 5/15/47 271,859
1,066,204 JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2011-C5, Class A3, 4.171%, 8/15/46 1,089,144
1,900,000(c) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2012-C8, Class B, 3.977%,
10/15/45 (144A) 1,902,452
4,555,234 JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2012-LC9, Class A5, 2.84%, 12/15/47 4,457,982
4,600,000(b) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2014-CBM, Class C, 4.023% (1 Month
USD LIBOR + 195 bps), 10/15/29 (144A) 4,599,997
1,268,571(b) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2014-FL4, Class C, 4.273% (1 Month
USD LIBOR + 220 bps), 12/15/30 (144A) 1,270,437
3,725,000(c) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2018-BCON, Class C, 3.881%,
1/5/31 (144A) 3,695,714
8,433,102(c) JP Morgan Mortgage Trust, Series 2013-1, Class 2A2,
2.5%, 3/25/43 (144A) 8,122,131
3,003,865(c) JP Morgan Mortgage Trust, Series 2013-1, Class 2A3,
3.0%, 3/25/43 (144A) 2,959,981
5,286,645(c) JP Morgan Mortgage Trust, Series 2015-4, Class 2A3,
3.0%, 6/25/45 (144A) 5,110,658
9,147,756(c) JP Morgan Mortgage Trust, Series 2016-1, Class A3,
3.5%, 5/25/46 (144A) 8,979,099
The accompanying notes are an integral part of these financial statements.
28 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
5,290,927(c) JP Morgan Mortgage Trust, Series 2016-3, Class 2A1,
3.0%, 10/25/46 (144A) $ 5,203,711
7,777,218(c) JP Morgan Mortgage Trust, Series 2016-4, Class A13,
3.5%, 10/25/46 (144A) 7,614,010
5,628,332(c) JP Morgan Mortgage Trust, Series 2016-5, Class B1,
2.611%, 12/25/46 (144A) 5,472,124
10,555,000(c) JP Morgan Mortgage Trust, Series 2017-1, Class A6,
3.5%, 1/25/47 (144A) 10,382,563
2,599,679(c) JP Morgan Mortgage Trust, Series 2017-2, Class A4,
3.0%, 5/25/47 (144A) 2,498,840
359,405(c) JP Morgan Mortgage Trust, Series 2017-2, Class A5,
3.5%, 5/25/47 (144A) 355,165
5,488,330(c) JP Morgan Mortgage Trust, Series 2017-2, Class A6,
3.0%, 5/25/47 (144A) 5,351,549
1,434,673(c) JP Morgan Mortgage Trust, Series 2017-2, Class B1,
3.746%, 5/25/47 (144A) 1,398,605
5,223,775(c) JP Morgan Mortgage Trust, Series 2017-3,
Class 1A13, 3.5%, 8/25/47 (144A) 5,113,221
1,619,655(c) JP Morgan Mortgage Trust, Series 2017-3, Class 1A5,
3.5%, 8/25/47 (144A) 1,600,548
9,656,713(c) JP Morgan Mortgage Trust, Series 2017-3, Class 2A2,
2.5%, 8/25/47 (144A) 9,264,409
3,835,002(c) JP Morgan Mortgage Trust, Series 2017-4, Class A3,
3.5%, 11/25/48 (144A) 3,761,899
11,672,655(c) JP Morgan Mortgage Trust, Series 2017-4, Class A5,
3.5%, 11/25/48 (144A) 11,534,953
12,979,379(c) JP Morgan Mortgage Trust, Series 2017-4, Class A6,
3.0%, 11/25/48 (144A) 12,783,975
5,130,421(c) JP Morgan Mortgage Trust, Series 2017-5, Class A1A,
3.0%, 10/26/48 (144A) 5,086,289
1,689,460(c) JP Morgan Mortgage Trust, Series 2017-5, Class A2,
3.173%, 10/26/48 (144A) 1,679,254
4,454,643(c) JP Morgan Mortgage Trust, Series 2017-5, Class B1,
3.173%, 10/26/48 (144A) 4,370,548
2,973,715(c) JP Morgan Mortgage Trust, Series 2017-6, Class A13,
3.5%, 12/25/48 (144A) 2,845,758
10,257,137(c) JP Morgan Mortgage Trust, Series 2017-6, Class A5,
3.5%, 12/25/48 (144A) 10,129,723
5,546,473(c) JP Morgan Mortgage Trust, Series 2017-6, Class B1,
3.854%, 12/25/48 (144A) 5,415,316
13,601,062(c) JP Morgan Mortgage Trust, Series 2018-1, Class A5,
3.5%, 6/25/48 (144A) 13,432,110
2,975,045(c) JP Morgan Mortgage Trust, Series 2018-1, Class B1,
3.77%, 6/25/48 (144A) 2,914,547
9,725,029(c) JP Morgan Mortgage Trust, Series 2018-3, Class A5,
3.5%, 9/25/48 (144A) 9,604,224
3,878,354(c) JP Morgan Mortgage Trust, Series 2018-3, Class B1,
3.784%, 9/25/48 (144A) 3,748,982
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 29
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
13,815,000(c) JP Morgan Mortgage Trust, Series 2018-4, Class A17,
3.5%, 10/25/48 (144A) $ 13,364,071
4,561,439(c) JP Morgan Mortgage Trust, Series 2018-4, Class B2,
3.805%, 10/25/48 (144A) 4,365,206
13,000,000(c) JP Morgan Mortgage Trust, Series 2018-6, Class 2A2,
3.0%, 12/25/48 (144A) 12,766,406
5,340,000(b) JP Morgan Mortgage Trust, Series 2018-7FRB,
Class A2, 2.841% (1 Month USD LIBOR + 75 bps),
4/25/46 (144A) 5,345,128
7,730,000(b) JP Morgan Mortgage Trust, Series 2018-7FRB,
Class A3, 2.841% (1 Month USD LIBOR + 75 bps),
4/25/46 (144A) 7,697,527
7,791,194(c) JP Morgan Trust, Series 2015-1, Class B1, 2.91%,
12/25/44 (144A) 7,765,230
2,936,766(c) JP Morgan Trust, Series 2015-3, Class A6, 3.0%,
5/25/45 (144A) 2,903,957
4,286,935(c) JP Morgan Trust, Series 2015-3, Class B3, 3.684%,
5/25/45 (144A) 4,132,926
4,050,000 JPMBB Commercial Mortgage Securities Trust, Series
2014-C22, Class A4, 3.801%, 9/15/47 4,110,424
7,850,000 JPMBB Commercial Mortgage Securities Trust, Series
2015-C32, Class A4, 3.329%, 11/15/48 7,709,981
3,450,000(c) JPMDB Commercial Mortgage Securities Trust, Series
2016-C2, Class B, 3.99%, 6/15/49 3,418,220
2,000,000(c) JPMDB Commercial Mortgage Securities Trust, Series
2016-C4, Class D, 3.223%, 12/15/49 (144A) 1,593,796
1,982,101 La Hipotecaria El Salvadorian Mortgage Trust, Series
2016-1A, Class A, 3.358%, 1/15/46 (144A) 1,934,640
1,065,082(b) La Hipotecaria Panamanian Mortgage Trust, Series
2010-1GA, Class A, 2.5% (Panamanian Mortgage
Reference Rate + 300 bps), 9/8/39 (144A) 1,077,730
3,082,616(b) La Hipotecaria Panamanian Mortgage Trust, Series
2014-1A, Class A1, 3.258% (Panamanian Mortgage
Reference Rate + 224 bps), 11/24/42 (144A) 3,001,697
3,690,000(c) LSTAR Commercial Mortgage Trust, Series 2015-3,
Class AS, 3.246%, 4/20/48 (144A) 3,548,973
2,971,741(b) LSTAR Securities Investment, Ltd., Series 2017-7,
Class A, 0.037% (1 Month USD LIBOR + 175 bps),
10/1/22 (144A) 2,985,954
8,460,901(b) LSTAR Securities Investment, Ltd., Series 2018-1,
Class A, 3.532% (1 Month USD LIBOR + 155 bps),
2/1/23 (144A) 8,470,192
356,245 MarketPlace Loan Trust, Series 2016-BS1, Class A,
4.5%, 1/15/21 (144A) 355,903
5,386,146(c) Mello Mortgage Capital Acceptance, Series
2018-MTG1, Class A1, 3.5%, 5/25/48 (144A) 5,296,417
2,898,566(c) Mill City Mortgage Loan Trust, Series 2017-3,
Class M2, 3.25%, 1/25/61 (144A) 2,779,928
The accompanying notes are an integral part of these financial statements.
30 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
5,750,000 Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2012-C6, Class A4, 2.858%, 11/15/45 $ 5,647,173
2,240,000 Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2015-C25, Class D, 3.068%, 10/15/48 1,847,904
440,184(b) MRFC Mortgage Pass-Through Trust, Series
2000-TBC3, Class A1, 2.513% (1 Month USD
LIBOR + 44 bps), 12/15/30 426,318
5,864,777(c) NRP Mortgage Trust, Series 2013-1, Class A1,
3.25%, 7/25/43 (144A) 5,700,302
5,864,497(c) NRP Mortgage Trust, Series 2013-1, Class B1,
3.313%, 7/25/43 (144A) 5,729,721
4,510,742(c) NRP Mortgage Trust, Series 2013-1, Class B2,
3.313%, 7/25/43 (144A) 4,381,464
732,579(b) Pepper Residential Securities Trust No. 18, Series 18A,
Class A1UA, 2.996% (1 Month USD LIBOR + 95 bps),
3/12/47 (144A) 732,465
9,328,475(c) PMT Loan Trust, Series 2013-J1, Class A11, 3.5%,
9/25/43 (144A) 9,162,316
4,800,000 Progress Residential Trust, Series 2017-SFR1,
Class B, 3.017%, 8/17/34 (144A) 4,643,847
700,000 Progress Residential Trust, Series 2017-SFR1,
Class D, 3.565%, 8/17/34 (144A) 683,132
5,135,000 Progress Residential Trust, Series 2017-SFR2,
Class B, 3.196%, 12/17/34 (144A) 4,988,891
6,707,446(c) PSMC Trust, Series 2018-1, Class A3, 3.5%,
2/25/48 (144A) 6,663,799
23,868 RALI Trust, Series 2003-QS14, Class A1,
5.0%, 7/25/18 23,725
622,105(b) RESIMAC Premier, Series 2017-1A, Class A1A,
2.996% (1 Month USD LIBOR + 95 bps),
9/11/48 (144A) 623,272
2,874,004(c) Sequoia Mortgage Trust, Series 2012-6, Class A2,
1.808%, 12/25/42 2,678,661
2,925,712(c) Sequoia Mortgage Trust, Series 2012-6, Class B3,
3.727%, 12/25/42 2,867,295
3,282,628(c) Sequoia Mortgage Trust, Series 2013-2, Class A,
1.874%, 2/25/43 2,948,744
7,459,569(c) Sequoia Mortgage Trust, Series 2013-4, Class A1,
2.325%, 4/25/43 6,881,162
7,888,134(c) Sequoia Mortgage Trust, Series 2013-5, Class A1,
2.5%, 5/25/43 (144A) 7,325,797
11,883,318(c) Sequoia Mortgage Trust, Series 2013-5, Class A2,
3.0%, 5/25/43 (144A) 11,385,241
7,989,663(c) Sequoia Mortgage Trust, Series 2013-6, Class A1,
2.5%, 5/25/43 7,570,837
12,082,696(c) Sequoia Mortgage Trust, Series 2013-6, Class A2,
3.0%, 5/25/43 11,674,494
8,803,741(c) Sequoia Mortgage Trust, Series 2013-7, Class A1,
2.5%, 6/25/43 8,379,718
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 31
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
11,034,794(c) Sequoia Mortgage Trust, Series 2013-7, Class A2,
3.0%, 6/25/43 $ 10,641,194
8,510,933(c) Sequoia Mortgage Trust, Series 2013-8, Class A1,
3.0%, 6/25/43 8,238,490
6,930,943 Sequoia Mortgage Trust, Series 2013-9, Class A1,
3.5%, 7/25/43 (144A) 6,820,485
10,472,882(c) Sequoia Mortgage Trust, Series 2013-10, Class A1,
3.5%, 8/25/43 (144A) 10,305,975
6,510,893(c) Sequoia Mortgage Trust, Series 2013-10, Class B1,
3.562%, 8/25/43 (144A) 6,413,249
4,001,762(c) Sequoia Mortgage Trust, Series 2015-1, Class A2,
3.0%, 1/25/45 (144A) 3,860,294
7,227,720(c) Sequoia Mortgage Trust, Series 2015-2, Class A1,
3.5%, 5/25/45 (144A) 7,112,531
2,638,120(c) Sequoia Mortgage Trust, Series 2016-3, Class A10,
3.5%, 11/25/46 (144A) 2,620,848
2,913,237(c) Sequoia Mortgage Trust, Series 2017-1, Class A4,
3.5%, 2/25/47 (144A) 2,901,874
9,474,977(c) Sequoia Mortgage Trust, Series 2017-2, Class A1,
3.5%, 2/25/47 (144A) 9,306,209
4,945,187(c) Sequoia Mortgage Trust, Series 2017-3, Class A1,
3.5%, 4/25/47 (144A) 4,841,650
3,704,484(c) Sequoia Mortgage Trust, Series 2017-4, Class A4,
3.5%, 7/25/47 (144A) 3,685,092
8,334,479(c) Sequoia Mortgage Trust, Series 2017-5, Class A1,
3.5%, 8/25/47 (144A) 8,213,050
8,164,724(c) Sequoia Mortgage Trust, Series 2017-7, Class A1,
3.5%, 10/25/47 (144A) 8,003,985
2,736,282(c) Sequoia Mortgage Trust, Series 2017-CH2, Class A1,
4.0%, 12/25/47 (144A) 2,755,822
11,995,481(c) Sequoia Mortgage Trust, Series 2018-3, Class A4,
3.5%, 3/25/48 (144A) 11,883,360
12,395,000(c) Sequoia Mortgage Trust, Series 2018-6, Class A22,
4.0%, 7/25/48 (144A) 12,412,430
5,012,880(c) Sequoia Mortgage Trust, Series 2018-CH1, Class A1,
4.0%, 2/25/48 (144A) 5,058,523
6,107,250(c) Shellpoint Co-Originator Trust, Series 2015-1,
Class A9, 3.5%, 8/25/45 (144A) 6,043,887
1,019,982(c) Shellpoint Co-Originator Trust, Series 2016-1,
Class 1A10, 3.5%, 11/25/46 (144A) 1,010,755
5,895,564(c) Shellpoint Co-Originator Trust, Series 2016-1,
Class 2A3, 3.0%, 10/25/31 (144A) 5,754,902
6,554,580(c) Shellpoint Co-Originator Trust, Series 2017-1,
Class A1, 3.5%, 4/25/47 (144A) 6,458,313
9,985,919(c) Shellpoint Co-Originator Trust, Series 2017-2,
Class A1, 3.5%, 10/25/47 (144A) 9,816,967
The accompanying notes are an integral part of these financial statements.
32 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,547,181(c) Shellpoint Co-Originator Trust, Series 2017-2,
Class B1, 3.737%, 10/25/47 (144A) $ 2,492,938
2,865,805(c) Sofi Mortgage Trust, Series 2016-1A, Class 1A4,
3.0%, 11/25/46 (144A) 2,716,572
2,950,000(b) Starwood Waypoint Homes Trust, Series 2017-1,
Class B, 3.255% (1 Month USD LIBOR + 117 bps),
1/17/35 (144A) 2,952,487
6,671,107 Toro Mortgage Funding Trust, Series 2017-RJ1,
4.0%, 4/25/74 6,585,634
7,540,000(c) Towd Point Mortgage Trust, Series 2015-6, Class M1,
3.75%, 4/25/55 (144A) 7,586,474
5,000,000(c) Towd Point Mortgage Trust, Series 2017-1, Class M1,
3.75%, 10/25/56 (144A) 5,007,617
12,015,000(c) Towd Point Mortgage Trust, Series 2017-2, Class A2,
3.25%, 4/25/57 (144A) 11,800,791
10,055,000(c) Towd Point Mortgage Trust, Series 2017-3, Class A2,
3.0%, 7/25/57 (144A) 9,639,863
8,719,786 Towd Point Mortgage Trust, Series 2017-5, Class XA,
3.5%, 2/25/57 (144A) 8,623,477
270,782 Vendee Mortgage Trust, Series 2008-1, Class GD,
5.25%, 1/15/32 277,789
468,591 Vendee Mortgage Trust, Series 2010-1, Class DA,
4.25%, 2/15/35 475,166
4,500,000 Wells Fargo Commercial Mortgage Trust, Series
2014-LC16, Class ASB, 3.477%, 8/15/50 4,536,432
3,810,000 Wells Fargo Commercial Mortgage Trust, Series
2015-NXS3, Class A4, 3.617%, 9/15/57 3,806,812
8,200,000 Wells Fargo Commercial Mortgage Trust, Series
2016-C32, Class A3, 3.294%, 1/15/59 8,023,810
10,000,000 Wells Fargo Commercial Mortgage Trust, Series
2016-LC24, Class A3, 2.684%, 10/15/49 9,321,888
633,288(b) Wells Fargo Credit Risk Transfer Securities Trust,
Series 2015-WF1, Class 2M1, 4.941% (1 Month
USD LIBOR + 285 bps), 11/25/25 (144A) 637,145
4,200,000(c) WFRBS Commercial Mortgage Trust, Series
2013-C12, Class D, 4.553%, 3/15/48 (144A) 3,825,588
6,200,000 WFRBS Commercial Mortgage Trust, Series
2013-C16, Class A4, 4.136%, 9/15/46 6,418,238
2,936,991(c) WinWater Mortgage Loan Trust, Series 2014-2,
Class B4, 4.103%, 9/20/44 (144A) 2,721,021
2,952,780(c) WinWater Mortgage Loan Trust, Series 2016-1,
Class 1A5, 3.5%, 1/20/46 (144A) 2,890,468
---------------
Total Banks $ 979,622,378
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 33
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
GOVERNMENT -- 0.8%
Government -- 0.8%
609,406(c) Fannie Mae Grantor Trust, Series 2004-T2, Class 2A,
4.139%, 7/25/43 $ 641,007
34,824(b) Federal Home Loan Mortgage Corp. REMICS,
Series 3780, Class FE, 2.473% (1 Month USD
LIBOR + 40 bps), 12/15/20 34,935
1,530,083 Federal Home Loan Mortgage Corp. Whole Loan
Securities Trust, Series 2017-SC02, Class 2A1,
3.5%, 5/25/47 1,529,852
130 Federal National Mortgage Association REMICS,
Series 1989-19, Class B, 10.3%, 4/25/19 132
303,604 Federal National Mortgage Association REMICS,
Series 2009-36, Class HX, 4.5%, 6/25/29 313,626
1,102,912 Federal National Mortgage Association REMICS,
Series 2013-128, Class DV, 3.0%, 6/25/23 1,097,126
890,000(c) FREMF Mortgage Trust, Series 2010-K9, Class B,
5.373%, 9/25/45 (144A) 923,924
2,060,000(c) FREMF Mortgage Trust, Series 2012-K710, Class B,
3.942%, 6/25/47 (144A) 2,074,350
1,007,294(b) FREMF Mortgage Trust, Series 2014-KF05, Class B,
6.001% (1 Month USD LIBOR + 400 bps),
9/25/22 (144A) 1,054,562
3,260,573(b) FREMF Mortgage Trust, Series 2014-KS02, Class B,
7.001% (1 Month USD LIBOR + 500 bps),
8/25/23 (144A) 3,343,751
3,700,000(c) FREMF Mortgage Trust, Series 2015-K51, Class B,
4.088%, 10/25/48 (144A) 3,670,263
1,028,317 Government National Mortgage Association, Series
2005-61, Class UZ, 5.25%, 8/16/35 1,090,060
712,644 Government National Mortgage Association, Series
2012-130, Class PA, 3.0%, 4/20/41 704,341
704,579 Government National Mortgage Association, Series
2013-169, Class TE, 3.25%, 4/16/27 698,335
68,739,183(c)(e) Government National Mortgage Association, Series
2017-21, Class IO, 0.802%, 10/16/58 5,247,742
3,764,815 Government National Mortgage Association, Series
2018-20, Class A, 2.5%, 9/16/49 3,674,883
9,346,086(d) Seasoned Credit Risk Transfer Trust, Series 2017-3,
Class HT, 2.5%, 7/25/56 9,031,166
5,420,000 Seasoned Credit Risk Transfer Trust, Series 2018-2,
Class MT, 3.5%, 11/25/57 5,351,641
---------------
Total Government $ 40,481,696
------------------------------------------------------------------------------------------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $1,042,563,950) $ 1,020,104,074
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
34 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
CORPORATE BONDS -- 36.4% of Net Assets
AUTOMOBILES & COMPONENTS -- 0.5%
Auto Parts & Equipment -- 0.1%
2,379,000 Dana Financing Luxembourg S.a.r.l., 6.5%,
6/1/26 (144A) $ 2,414,685
------------------------------------------------------------------------------------------------
Automobile Manufacturers -- 0.4%
3,590,000 Nissan Motor Acceptance Corp., 2.15%,
7/13/20 (144A) $ 3,502,334
7,495,000 Nissan Motor Acceptance Corp., 3.15%,
3/15/21 (144A) 7,445,061
10,045,000 Toyota Motor Credit Corp., 2.125%, 7/18/19 9,983,824
---------------
$ 20,931,219
---------------
Total Automobiles & Components $ 23,345,904
------------------------------------------------------------------------------------------------
BANKS -- 4.4%
Diversified Banks -- 3.5%
6,485,000 Australia & New Zealand Banking Group, Ltd.,
4.5%, 3/19/24 (144A) $ 6,478,512
1,150,000 Bank of America Corp., 4.2%, 8/26/24 1,156,002
2,230,000 Banque Ouest Africaine de Developpement, 5.0%,
7/27/27 (144A) 2,122,403
4,450,000 Banque Ouest Africaine de Developpement, 5.5%,
5/6/21 (144A) 4,558,233
5,250,000 Barclays Plc, 3.65%, 3/16/25 4,917,318
3,000,000 Barclays Plc, 4.375%, 1/12/26 2,913,795
1,200,000 BBVA Bancomer SA, 4.375%, 4/10/24 (144A) 1,195,800
3,600,000(c) BBVA Bancomer SA, 5.125% (5 Year Constant
Maturity Treasury Index + 265 bps), 1/18/33 (144A) 3,190,500
1,915,000 BBVA Bancomer SA, 6.5%, 3/10/21 (144A) 1,993,994
13,040,000(a)(c) BNP Paribas SA, 7.625% (5 Year USD Swap
Rate + 631 bps) (144A) 13,610,500
6,900,000 BPCE SA, 2.25%, 1/27/20 6,789,013
3,860,000 BPCE SA, 4.875%, 4/1/26 (144A) 3,828,681
21,955,000(b) Canadian Imperial Bank of Commerce, 2.678%
(3 Month USD LIBOR + 32 bps), 2/2/21 21,949,028
3,435,000 Cooperatieve Rabobank UA, 3.875%, 2/8/22 3,483,575
7,175,000 Cooperatieve Rabobank UA, 3.95%, 11/9/22 7,105,599
7,300,000 Credit Suisse Group Funding Guernsey, Ltd.,
3.8%, 9/15/22 7,267,960
4,700,000(a)(c) Danske Bank AS, 6.125% (USD Swap Rate + 390 bps) 4,440,842
8,840,000(c) DBS Group Holdings, Ltd., 4.52% (5 Year USD 1100
Run ICE Swap Rate + 159 bps), 12/11/28 (144A) 8,908,324
1,305,000 HSBC Bank Plc, 7.65%, 5/1/25 1,522,138
2,400,000(b) HSBC Holdings Plc, 3.326% (3 Month USD
LIBOR + 100 bps), 5/18/24 2,392,800
11,106,000(a)(c) ING Groep NV, 6.5% (5 Year USD Swap Rate + 445 bps) 10,742,834
11,275,000 Lloyds Banking Group Plc, 4.65%, 3/24/26 11,093,691
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 35
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Diversified Banks -- (continued)
5,125,000 Macquarie Bank, Ltd., 4.875%, 6/10/25 (144A) $ 5,107,905
840,000 Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 900,179
4,500,000 Nordea Bank AB, 4.25%, 9/21/22 (144A) 4,564,108
8,524,000 Nordea Bank AB, 4.875%, 5/13/21 (144A) 8,765,029
10,505,000(a)(c) Royal Bank of Scotland Group Plc, 8.625%
(5 Year USD Swap Rate + 760 bps) 11,164,189
11,500,000(a)(c) Societe Generale SA, 7.375% (5 Year USD Swap
Rate + 624 bps) (144A) 11,701,250
1,590,000 Standard Chartered Plc, 3.95%, 1/11/23 (144A) 1,553,324
2,250,000(c) Turkiye Garanti Bankasi AS, 6.125% (5 Year USD
Swap Rate + 422 bps), 5/24/27 (144A) 1,970,177
---------------
$ 177,387,703
------------------------------------------------------------------------------------------------
Regional Banks -- 0.7%
7,378,000 KeyCorp, 5.1%, 3/24/21 $ 7,703,257
12,575,000 SunTrust Bank, 2.45%, 8/1/22 12,079,992
14,640,000(c) SunTrust Bank, 2.59% (3 Month USD
LIBOR + 30 bps), 1/29/21 14,510,359
---------------
$ 34,293,608
------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- 0.2%
7,060,000 Nationwide Building Society, 4.0%, 9/14/26 (144A) $ 6,594,072
2,500,000(c) Nationwide Building Society, 4.125% (5 Year
USD 1100 Run ICE Swap Rate + 185 bps),
10/18/32 (144A) 2,289,706
---------------
$ 8,883,778
---------------
Total Banks $ 220,565,089
------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 1.3%
Aerospace & Defense -- 0.6%
3,625,000 Embraer Netherlands Finance BV, 5.4%, 2/1/27 $ 3,750,606
2,499,000 Leonardo US Holdings, Inc., 6.25%, 1/15/40 (144A) 2,698,920
13,470,000 Rockwell Collins, Inc., 3.2%, 3/15/24 12,976,690
7,855,000 Spirit AeroSystems, Inc., 3.85%, 6/15/26 7,541,662
4,990,000 Spirit AeroSystems, Inc., 4.6%, 6/15/28 5,009,557
---------------
$ 31,977,435
------------------------------------------------------------------------------------------------
Building Products -- 0.6%
5,197,000 American Woodmark Corp., 4.875%,
3/15/26 (144A) $ 4,924,157
7,680,000 Fortune Brands Home & Security, Inc., 3.0%, 6/15/20 7,620,873
5,675,000 Owens Corning, 3.4%, 8/15/26 5,174,472
5,150,000 Owens Corning, 4.2%, 12/1/24 5,080,855
4,385,000 Standard Industries, Inc., 5.5%, 2/15/23 (144A) 4,428,850
---------------
$ 27,229,207
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
36 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Construction & Engineering -- 0.1%
1,368,000 Amsted Industries, Inc., 5.0%, 3/15/22 (144A) $ 1,369,710
3,485,000 Amsted Industries, Inc., 5.375%, 9/15/24 (144A) 3,458,863
---------------
$ 4,828,573
------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.0%+
1,392,000 General Electric Co., 5.3%, 2/11/21 $ 1,456,288
---------------
Total Capital Goods $ 65,491,503
------------------------------------------------------------------------------------------------
COMMERCIAL SERVICES & SUPPLIES -- 0.2%
Environmental & Facilities Services -- 0.1%
2,678,000 Republic Services, Inc., 2.9%, 7/1/26 $ 2,486,903
------------------------------------------------------------------------------------------------
Research & Consulting Services -- 0.1%
5,942,000 Verisk Analytics, Inc., 5.5%, 6/15/45 $ 6,124,653
---------------
Total Commercial Services & Supplies $ 8,611,556
------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.3%
Homebuilding -- 0.3%
5,120,000 Lennar Corp., 4.75%, 4/1/21 $ 5,192,960
5,215,000 Meritage Homes Corp., 6.0%, 6/1/25 5,280,188
2,100,000 TRI Pointe Group, Inc., 5.25%, 6/1/27 1,926,750
---------------
Total Consumer Durables & Apparel $ 12,399,898
------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Education Services -- 0.2%
1,100,000 Massachusetts Institute of Technology, 5.6%, 7/1/11 $ 1,423,214
2,600,000 President & Fellows of Harvard College,
2.3%, 10/1/23 2,506,010
3,550,000 Tufts University, 5.017%, 4/15/12 3,952,785
---------------
Total Consumer Services $ 7,882,009
------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 3.2%
Asset Management & Custody Banks -- 0.3%
10,345,000(b) Bank of New York Mellon Corp., 3.409% (3 Month
USD LIBOR + 105 bps), 10/30/23 $ 10,516,873
770,000 Blackstone Holdings Finance Co., LLC, 5.0%,
6/15/44 (144A) 812,424
2,985,000 Legg Mason, Inc., 3.95%, 7/15/24 2,957,728
2,175,000 Legg Mason, Inc., 4.75%, 3/15/26 2,209,710
---------------
$ 16,496,735
------------------------------------------------------------------------------------------------
Consumer Finance -- 0.6%
1,465,000 Capital One Bank USA NA, 8.8%, 7/15/19 $ 1,547,478
9,675,000 Capital One Financial Corp., 3.75%, 4/24/24 9,489,613
5,200,000 Capital One Financial Corp., 4.25%, 4/30/25 5,181,924
2,300,000 General Motors Financial Co., Inc., 3.7%, 11/24/20 2,312,522
10,710,000 General Motors Financial Co., Inc., 4.0%, 1/15/25 10,382,586
---------------
$ 28,914,123
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 37
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Diversified Capital Markets -- 0.7%
11,725,000(a)(c) Credit Suisse Group AG, 7.125% (5 Year USD Swap
Rate + 511 bps) $ 11,938,981
4,031,000 GE Capital International Funding Co. Unlimited Co.,
2.342%, 11/15/20 3,940,225
6,900,000(b) ICBCIL Finance Co., Ltd., 4.025% (3 Month USD
LIBOR + 167 bps), 11/13/18 (144A) 6,928,316
2,730,000 Macquarie Group, Ltd., 6.0%, 1/14/20 (144A) 2,839,067
8,347,000(a)(c) UBS Group Funding Switzerland AG, 7.125% (5 Year
USD Swap Rate + 588 bps) 8,595,440
---------------
$ 34,242,029
------------------------------------------------------------------------------------------------
Financial Exchanges & Data -- 0.0%+
2,400,000 Moody's Corp., 3.25%, 6/7/21 $ 2,395,248
------------------------------------------------------------------------------------------------
Investment Banking & Brokerage -- 0.7%
3,415,000 E*TRADE Financial Corp., 2.95%, 8/24/22 $ 3,308,041
7,891,000(c) Goldman Sachs Group, Inc., 3.272% (3 Month USD
LIBOR + 120 bps), 9/29/25 7,492,685
6,335,000(c) Goldman Sachs Group, Inc., 4.223% (3 Month USD
LIBOR + 130 bps), 5/1/29 6,239,406
5,450,000 Morgan Stanley, 4.1%, 5/22/23 5,470,810
300,000 Morgan Stanley, 4.875%, 11/1/22 311,164
643,000 North American Development Bank, 2.3%, 10/10/18 642,589
6,200,000 TD Ameritrade Holding Corp., 3.3%, 4/1/27 5,916,019
4,900,000 UBS AG, 7.625%, 8/17/22 5,409,110
---------------
$ 34,789,824
------------------------------------------------------------------------------------------------
Other Diversified Financial Services -- 0.2%
12,300,000 Hyundai Capital Services, Inc., 3.0%,
8/29/22 (144A) $ 11,838,773
------------------------------------------------------------------------------------------------
Specialized Finance -- 0.7%
2,980,000 Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) $ 3,116,079
13,250,000 MassMutual Global Funding II, 2.75%,
6/22/24 (144A) 12,625,036
6,200,000 MassMutual Global Funding II, 2.95%,
1/11/25 (144A) 5,923,640
11,625,000 USAA Capital Corp., 2.45%, 8/1/20 (144A) 11,472,862
---------------
$ 33,137,617
---------------
Total Diversified Financials $ 161,814,349
------------------------------------------------------------------------------------------------
ENERGY -- 5.1%
Integrated Oil & Gas -- 0.7%
6,360,000 BP Capital Markets Plc, 3.062%, 3/17/22 $ 6,307,120
5,965,000 Petroleos Mexicanos, 3.5%, 1/30/23 5,646,887
6,745,000 Petroleos Mexicanos, 6.5%, 3/13/27 6,916,458
The accompanying notes are an integral part of these financial statements.
38 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Integrated Oil & Gas -- (continued)
4,750,000 Sinopec Group Overseas Development 2014, Ltd.,
4.375%, 4/10/24 (144A) $ 4,843,850
10,050,000 Sinopec Group Overseas Development 2015, Ltd.,
2.5%, 4/28/20 (144A) 9,902,744
---------------
$ 33,617,059
------------------------------------------------------------------------------------------------
Oil & Gas Equipment & Services -- 0.1%
2,250,000 Halliburton Co., 7.6%, 8/15/96 (144A) $ 2,824,083
------------------------------------------------------------------------------------------------
Oil & Gas Exploration & Production -- 0.4%
5,275,000 CNOOC Nexen Finance 2014 ULC, 4.25%, 4/30/24 $ 5,334,091
12,550,000 Continental Resources, Inc., 4.375%, 1/15/28 12,476,451
1,770,000 Newfield Exploration Co., 5.375%, 1/1/26 1,809,825
1,400,000 Newfield Exploration Co., 5.625%, 7/1/24 1,475,250
---------------
$ 21,095,617
------------------------------------------------------------------------------------------------
Oil & Gas Refining & Marketing -- 0.4%
9,915,000 EnLink Midstream Partners LP, 5.45%, 6/1/47 $ 8,336,733
215,000 Motiva Enterprises LLC, 5.75%, 1/15/20 (144A) 221,741
3,445,000 Motiva Enterprises LLC, 6.85%, 1/15/40 (144A) 4,017,131
8,468,000 Valero Energy Corp., 6.625%, 6/15/37 10,125,538
---------------
$ 22,701,143
------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- 3.5%
9,940,000 Andeavor Logistics LP / Tesoro Logistics Finance
Corp., 4.25%, 12/1/27 $ 9,521,494
3,760,000 Boardwalk Pipelines LP, 4.95%, 12/15/24 3,827,891
5,595,000 Cheniere Energy Partners LP, 5.25%, 10/1/25 (144A) 5,457,643
750,000 DCP Midstream Operating LP, 5.35%, 3/15/20 (144A) 764,062
2,900,000 DCP Midstream Operating LP, 9.75%, 3/15/19 (144A) 3,019,625
8,361,000 Enable Midstream Partners LP, 3.9%, 5/15/24 8,003,600
3,629,000 Enable Midstream Partners LP, 4.4%, 3/15/27 3,451,692
6,080,000 Enable Midstream Partners LP, 4.95%, 5/15/28 5,910,603
10,550,000 Enbridge, Inc., 3.7%, 7/15/27 9,997,282
1,149,000 Energy Transfer Equity LP, 5.5%, 6/1/27 1,149,000
5,130,000 Energy Transfer Partners LP, 6.0%, 6/15/48 5,129,422
4,207,000 Energy Transfer Partners LP, 6.5%, 2/1/42 4,334,474
3,573,000 Enterprise Products Operating LLC, 2.8%, 2/15/21 3,527,303
10,830,000 Kinder Morgan, Inc., 5.05%, 2/15/46 10,050,045
10,050,000 Kinder Morgan, Inc., 5.55%, 6/1/45 10,116,676
2,182,000 MPLX LP, 4.0%, 3/15/28 2,075,247
4,725,000 MPLX LP, 4.125%, 3/1/27 4,507,194
3,875,000 MPLX LP, 4.875%, 12/1/24 3,994,996
3,045,000 MPLX LP, 4.875%, 6/1/25 3,130,780
12,125,000 Phillips 66 Partners LP, 3.75%, 3/1/28 11,331,958
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 39
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- (continued)
9,165,000 Plains All American Pipeline LP / PAA Finance Corp.,
4.65%, 10/15/25 $ 9,133,195
10,675,000 Sabine Pass Liquefaction LLC, 5.0%, 3/15/27 10,847,801
1,500,000 Spectra Energy Capital LLC, 6.75%, 7/15/18 1,501,877
3,575,000 Sunoco Logistics Partners Operations LP,
5.35%, 5/15/45 3,254,402
3,526,000 Sunoco Logistics Partners Operations LP,
5.4%, 10/1/47 3,242,129
786,000 Sunoco Logistics Partners Operations LP,
6.1%, 2/15/42 789,342
7,266,000 Targa Resources Partners LP / Targa Resources
Partners Finance Corp., 5.0%, 1/15/28 (144A) 6,757,380
10,040,000 Western Gas Partners LP, 4.5%, 3/1/28 9,662,057
17,205,000 Williams Cos., Inc., 5.75%, 6/24/44 17,785,669
2,475,000 Williams Cos., Inc., 7.75%, 6/15/31 2,972,920
---------------
$ 175,247,759
---------------
Total Energy $ 255,485,661
------------------------------------------------------------------------------------------------
FOOD & STAPLES RETAILING -- 0.6%
Drug Retail -- 0.3%
650,000 CVS Health Corp., 2.25%, 8/12/19 $ 644,667
5,050,000 CVS Health Corp., 4.1%, 3/25/25 5,023,241
512,061 CVS Pass-Through Trust, 5.298%, 1/11/27 (144A) 524,505
2,629,995 CVS Pass-Through Trust, 5.773%, 1/10/33 (144A) 2,810,573
1,811,464 CVS Pass-Through Trust, 5.926%, 1/10/34 (144A) 1,948,475
3,399,587 CVS Pass-Through Trust, 6.036%, 12/10/28 3,619,970
---------------
$ 14,571,431
------------------------------------------------------------------------------------------------
Food Retail -- 0.1%
7,040,000 Alimentation Couche-Tard, Inc., 3.55%,
7/26/27 (144A) $ 6,673,611
------------------------------------------------------------------------------------------------
Hypermarkets & Super Centers -- 0.2%
7,505,000 Walmart, Inc., 3.4%, 6/26/23 $ 7,560,859
---------------
Total Food & Staples Retailing $ 28,805,901
------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 1.6%
Brewers -- 0.1%
4,350,000(b) Anheuser-Busch InBev Finance, Inc., 3.623%
(3 Month USD LIBOR + 126 bps), 2/1/21 $ 4,478,508
------------------------------------------------------------------------------------------------
Distillers & Vintners -- 0.2%
5,300,000 Pernod Ricard SA, 4.25%, 7/15/22 (144A) $ 5,414,043
6,869,000 Pernod Ricard SA, 4.45%, 1/15/22 (144A) 7,062,696
---------------
$ 12,476,739
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
40 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.6%
7,630,000 Bacardi, Ltd., 5.3%, 5/15/48 (144A) $ 7,231,210
4,119,000 Mondelez International Holdings Netherlands BV,
2.0%, 10/28/21 (144A) 3,929,767
2,500,000 Smithfield Foods, Inc., 2.65%, 10/3/21 (144A) 2,381,826
7,555,000 Smithfield Foods, Inc., 2.7%, 1/31/20 (144A) 7,446,598
3,430,000(b) Tyson Foods, Inc., 2.781% (3 Month USD
LIBOR + 45 bps), 8/21/20 3,429,978
3,075,000(b) Tyson Foods, Inc., 2.871% (3 Month USD
LIBOR + 55 bps), 6/2/20 3,079,754
---------------
$ 27,499,133
------------------------------------------------------------------------------------------------
Tobacco -- 0.7%
10,025,000 Altria Group, Inc., 2.625%, 1/14/20 $ 9,970,478
12,540,000 Philip Morris International, Inc., 3.25%, 11/10/24 12,193,667
14,708,000 Reynolds American, Inc., 4.45%, 6/12/25 14,802,178
---------------
$ 36,966,323
---------------
Total Food, Beverage & Tobacco $ 81,420,703
------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 1.4%
Health Care Distributors -- 0.4%
9,390,000 AmerisourceBergen Corp., 3.45%, 12/15/27 $ 8,650,576
12,950,000 Cardinal Health, Inc., 3.079%, 6/15/24 12,200,635
---------------
$ 20,851,211
------------------------------------------------------------------------------------------------
Health Care Equipment -- 0.7%
4,700,000(b) Becton Dickinson & Co., 3.211% (3 Month USD
LIBOR + 88 bps), 12/29/20 $ 4,707,679
8,766,000 Becton Dickinson & Co., 3.734%, 12/15/24 8,557,817
10,340,000 Boston Scientific Corp., 4.0%, 3/1/28 10,109,623
9,900,000 Medtronic, Inc., 3.15%, 3/15/22 9,820,704
---------------
$ 33,195,823
------------------------------------------------------------------------------------------------
Health Care Facilities -- 0.0%+
2,400,000 NYU Hospitals Center, 4.428%, 7/1/42 $ 2,478,403
------------------------------------------------------------------------------------------------
Managed Health Care -- 0.3%
6,585,000 Anthem, Inc., 3.35%, 12/1/24 $ 6,361,488
4,506,000 Anthem, Inc., 3.65%, 12/1/27 4,268,486
1,140,000 Anthem, Inc., 4.101%, 3/1/28 1,115,188
3,630,000 Humana, Inc., 3.95%, 3/15/27 3,569,632
---------------
$ 15,314,794
---------------
Total Health Care Equipment & Services $ 71,840,231
------------------------------------------------------------------------------------------------
HOUSEHOLD & PERSONAL PRODUCTS -- 0.3%
Household Products -- 0.3%
8,203,000 Church & Dwight Co., Inc., 2.45%, 8/1/22 $ 7,860,970
5,235,000 Church & Dwight Co., Inc., 3.15%, 8/1/27 4,857,414
---------------
Total Household & Personal Products $ 12,718,384
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 41
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
INSURANCE -- 5.4%
Insurance Brokers -- 0.2%
10,515,000 Brown & Brown, Inc., 4.2%, 9/15/24 $ 10,541,888
------------------------------------------------------------------------------------------------
Life & Health Insurance -- 0.9%
7,000,000 Aflac, Inc., 3.625%, 11/15/24 $ 6,933,108
800,000(b) AIG Global Funding, 2.817% (3 Month USD
LIBOR + 48 bps), 7/2/20 (144A) 800,480
4,866,000 Centene Escrow I Corp., 5.375%, 6/1/26 (144A) 4,929,891
7,215,000 Great-West Lifeco Finance 2018 LP, 4.581%,
5/17/48 (144A) 7,302,873
2,425,000 Principal Life Global Funding II, 1.5%, 4/18/19 (144A) 2,401,574
4,250,000 Protective Life Corp., 7.375%, 10/15/19 4,474,222
3,680,000 Protective Life Global Funding, 2.615%,
8/22/22 (144A) 3,551,587
1,090,000 Prudential Financial, Inc., 4.5%, 11/16/21 1,130,623
5,375,000 Teachers Insurance & Annuity Association of
America, 4.27%, 5/15/47 (144A) 5,140,285
4,120,000 Teachers Insurance & Annuity Association of America,
4.9%, 9/15/44 (144A) 4,337,036
690,000 Teachers Insurance & Annuity Association of America,
6.85%, 12/16/39 (144A) 913,584
---------------
$ 41,915,263
------------------------------------------------------------------------------------------------
Multi-line Insurance -- 0.4%
2,335,000 AXA SA, 8.6%, 12/15/30 $ 2,988,800
13,040,000 Liberty Mutual Insurance Co., 7.697%,
10/15/97 (144A) 18,071,858
---------------
$ 21,060,658
------------------------------------------------------------------------------------------------
Property & Casualty Insurance -- 0.4%
9,100,000 CNA Financial Corp., 4.5%, 3/1/26 $ 9,281,070
1,850,000 Delphi Financial Group, Inc., 7.875%, 1/31/20 1,973,893
9,610,000(c) Farmers Insurance Exchange, 4.747% (3 Month USD
LIBOR + 323 bps), 11/1/57 (144A) 8,774,028
---------------
$ 20,028,991
------------------------------------------------------------------------------------------------
Reinsurance -- 3.5%
1,350,000+(f)(g) Ailsa Re 2017, Variable Rate Notes, 6/15/19 $ 1,350,000
1,700,000(b) Alamo Re, 6.765% (3 Month U.S. Treasury
Bill + 485 bps), 6/8/20 (144A) (Cat Bond) 1,721,930
500,000(b) Aozora Re, 4.581% (6 Month USD LIBOR + 224 bps),
4/7/20 (144A) (Cat Bond) 504,250
900,000+(f)(g) Arlington Re 2015, Variable Rate Notes, 8/1/18 43,740
750,000+(f)(g) Arlington Re 2016, Variable Rate Notes, 8/31/18 97,875
2,000,000+(f)(g) Berwick Re 2017, Variable Rate Notes, 2/1/19 132,400
9,425,887+(f)(g) Berwick Re 2018-1, Variable Rate Notes, 12/31/21 9,656,821
1,250,000+(f)(g) Blue Lotus Re 2018, Variable Rate Notes, 12/31/21 1,321,000
The accompanying notes are an integral part of these financial statements.
42 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
2,000,000(b) Bowline Re, 6.417% (3 Month U.S. Treasury
Bill + 450 bps), 5/23/22 (144A) (Cat Bond) $ 1,995,600
1,350,000(b) Caelus Re IV, 7.45% (3 Month U.S. Treasury
Bill + 553 bps), 3/6/20 (144A) (Cat Bond) 1,369,440
750,000(b) Caelus Re V, 5.17% (3 Month U.S. Treasury
Bill + 325 bps), 6/5/20 (144A) (Cat Bond) 731,250
1,000,000(b) Caelus Re V, 6.42% (3 Month U.S. Treasury
Bill + 450 bps), 6/5/20 (144A) (Cat Bond) 495,900
3,000,000+(f)(g) Carnoustie Re 2015, Variable Rate Notes, 7/1/19 9,600
3,600,000+(f)(g) Carnoustie Re 2016, Variable Rate Notes, 11/30/20 97,200
4,500,000+(f)(g) Carnoustie Re 2017, Variable Rate Notes, 11/30/21 1,143,900
2,000,000+(f)(g) Carnoustie Re 2018, Variable Rate Notes, 12/31/21 2,070,600
1,400,000(b) Casablanca Re, 5.814% (6 Month USD
LIBOR + 375 bps), 6/4/20 (144A) (Cat Bond) 1,406,160
1,300,000+(f)(g) Castle Stuart Housing Association Re 2018, Variable
Rate Notes, 12/1/21 1,316,380
1,000,000(b) Citrus Re, 2.415% (1 Month U.S. Treasury
Bill + 50 bps), 4/9/20 (144A) (Cat Bond) 740,000
5,200,000(b) Cranberry Re, 5.815% (3 Month U.S. Treasury
Bill + 390 bps), 7/6/18 (144A) (Cat Bond) 5,196,360
4,000,000+(f)(g) Cypress Re 2018-1, Variable Rate Notes, 1/15/19 3,799,200
2,000,000+(f)(g) Denning Re 2017, Variable Rate Notes, 7/13/19 2,005,000
1,000,000+(f)(g) EC0012 Re, Variable Rate Notes, 6/15/19 974,300
397,500+(f)(g) Eden Re II, Variable Rate Notes, 3/22/21 (144A) 231,703
841,500+(f)(g) Eden Re II, Variable Rate Notes, 3/22/21 (144A) 483,273
3,717,000+(f)(g) Eden Re II, Variable Rate Notes, 3/22/22 (144A) 3,883,150
2,500,000+(f)(g) Eden Re II, Variable Rate Notes, 3/22/22 (144A) 2,613,250
1,300,000(b) Galilei Re, 6.178% (6 Month USD LIBOR + 466 bps),
1/8/20 (144A) (Cat Bond) 1,308,320
1,500,000(b) Galilei Re, 6.198% (6 Month USD LIBOR + 466 bps),
1/8/21 (144A) (Cat Bond) 1,521,450
1,300,000(b) Galilei Re, 6.968% (6 Month USD LIBOR + 545 bps),
1/8/20 (144A) (Cat Bond) 1,302,990
1,200,000(b) Galilei Re, 6.988% (6 Month USD LIBOR + 545 bps),
1/8/21 (144A) (Cat Bond) 1,211,760
1,400,000(b) Galilei Re, 8.048% (6 Month USD LIBOR + 653 bps),
1/8/20 (144A) (Cat Bond) 1,407,560
1,500,000(b) Galilei Re, 8.068% (6 Month USD LIBOR + 653 bps),
1/8/21 (144A) (Cat Bond) 1,525,350
3,500,000+(f)(g) Gleneagles Re 2016, Variable Rate Notes, 11/30/20 325,045
1,000,000+(f)(g) Gleneagles Re 2018, Variable Rate Notes, 12/31/21 1,039,700
2,800,000(b) Golden State Re II, 4.115% (3 Month U.S. Treasury
Bill + 220 bps), 1/8/19 (144A) (Cat Bond) 2,798,600
2,000,000+(f)(g) Gullane Re 2018, Variable Rate Notes, 12/31/21 1,992,000
2,000,000+(f)(g) Harambee Re 2018, Variable Rate Notes, 12/31/21 2,021,600
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 43
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
1,050,000(b) International Bank for Reconstruction & Development,
4.641% (3 Month USD LIBOR + 250 bps), 2/14/20
(144A) (Cat Bond) $ 1,047,344
1,500,000(b) International Bank for Reconstruction & Development,
4.641% (3 Month USD LIBOR + 250 bps), 2/15/21
(144A) (Cat Bond) 1,492,470
1,250,000(b) International Bank for Reconstruction & Development,
5.143% (3 Month USD LIBOR + 300 bps), 2/15/21
(144A) (Cat Bond) 1,243,788
1,700,000(b) International Bank for Reconstruction & Development,
8.388% (6 Month USD LIBOR + 690 bps), 7/15/20
(144A) (Cat Bond) 1,699,966
4,357,815+(f)(g) Kilarney Re 2018, Variable Rate Notes, 4/15/19 4,608,825
700,000(b) Kilimanjaro Re, 5.665% (3 Month U.S. Treasury
Bill + 375 bps), 11/25/19 (144A) (Cat Bond) 703,640
2,000,000(b) Kilimanjaro Re, 6.809% (3 Month USD
LIBOR + 465 bps), 5/6/22 (144A) (Cat Bond) 1,997,200
3,000,000(b) Kilimanjaro Re, 8.665% (3 Month U.S. Treasury
Bill + 675 bps), 12/6/19 (144A) (Cat Bond) 2,993,700
1,500,000(b) Kilimanjaro Re, 11.165% (3 Month U.S. Treasury
Bill + 925 bps), 12/6/19 (144A) (Cat Bond) 1,488,600
2,600,000(b) Kilimanjaro II Re, 7.921% (6 Month USD
LIBOR + 572 bps), 4/20/21 (144A) (Cat Bond) 2,647,060
3,500,000(b) Kilimanjaro II Re, 9.341% (6 Month USD
LIBOR + 714 bps), 4/20/21 (144A) (Cat Bond) 3,521,000
2,800,000+(f)(g) Kingsbarns Re 2017, Variable Rate Notes, 5/15/19 1,924,440
600,000+(f)(g) Limestone Re, Variable Rate Notes, 8/31/21 595,740
1,750,000+(f)(g) Limestone Re, Variable Rate Notes, 8/31/21 1,737,575
2,500,000+(f)(g) Limestone Re, Variable Rate Notes, 3/1/22 2,500,000
2,500,000(b) Long Point Re III, 4.665% (3 Month U.S. Treasury
Bill + 275 bps), 6/1/22 (144A) (Cat Bond) 2,503,250
3,000,000+(f)(g) Lorenz Re 2017, Variable Rate Notes, 3/31/20 2,794,200
2,838,067+(f)(g) Lorenz Re 2018, Variable Rate Notes, 7/1/21 2,838,067
2,000,000+(f)(g) Madison Re 2016, Variable Rate Notes, 3/31/19 55,600
1,500,000+(f)(g) Madison Re 2017, Variable Rate Notes, 12/31/19 395,850
2,000,000+(f)(g) Madison Re 2018, Variable Rate Notes, 12/31/21 2,099,400
7,000,000+(f)(g) Merion Re 2018-2, Variable Rate Notes, 12/31/21 7,463,400
1,000,000+(f)(g) Oakmont Re 2017, Variable Rate Notes, 4/15/19 11,500
750,000+(f)(g) Oakmont Re 2018, Variable Rate Notes, 4/15/19 703,950
3,600,000+(f)(g) Pangaea Re 2015-1, Variable Rate Notes, 2/1/19 6,480
4,000,000+(f)(g) Pangaea Re 2015-2, Variable Rate Notes, 11/30/19 19,600
4,500,000+(f)(g) Pangaea Re 2016-1, Variable Rate Notes, 11/30/20 32,085
3,000,000+(f)(g) Pangaea Re 2016-2, Variable Rate Notes, 11/30/20 172,800
3,000,000+(f)(g) Pangaea Re 2017-1, Variable Rate Notes, 11/30/21 16,380
3,800,000+(f)(g) Pangaea Re 2018-1, Variable Rate Notes, 12/31/21 4,012,800
6,500,000+(f)(g) Pangaea Re 2018-3, Variable Rate Notes, 7/1/22 6,519,500
The accompanying notes are an integral part of these financial statements.
44 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
1,250,000+(b) Panthera Re, 5.415% (3 Month U.S. Treasury
Bill + 350 bps), 3/9/20 (144A) (Cat Bond) $ 1,260,250
3,200,000(b) PennUnion Re, 6.415% (3 Month U.S. Treasury
Bill + 450 bps), 12/7/18 (144A) (Cat Bond) 3,177,920
5,000,000+(f)(g) Pinehurst Re 2018-1, Variable Rate Notes, 1/15/19 4,804,000
1,000,000+(f)(g) Prestwick Re 2015-1, Variable Rate Notes, 7/1/19 17,000
2,600,000+(f)(g) Promissum Re 2018, Variable Rate Notes, 6/15/19 2,447,120
2,000,000(b) Queen Street XI Re, 8.065% (3 Month U.S. Treasury
Bill + 615 bps), 6/7/19 (144A) (Cat Bond) 2,008,200
2,500,000(b) Residential Reinsurance 2016, 5.735% (3 Month
U.S. Treasury Bill + 382 bps), 12/6/20
(144A) (Cat Bond) 2,510,250
1,800,000+(f)(g) Resilience Re, Variable Rate Notes, 6/4/18 360
1,500,000+(f)(g) Resilience Re, Variable Rate Notes, 1/8/19 1,438,650
2,200,000+(f)(g) Resilience Re, Variable Rate Notes, 1/8/19 (144A) 2,200,000
3,600,000+(f)(g) Resilience Re, Variable Rate Notes, 1/8/19 (144A) 3,600,000
2,000,000+(f)(g) Resilience Re, Variable Rate Notes, 4/8/19 1,823,000
3,600,000+(f)(g) Resilience Re, Variable Rate Notes, 5/1/19 72,000
250,000+(f)(g) Resilience Re, Variable Rate Notes, 6/7/19 243,675
1,600,000+(f)(g) Resilience Re, Variable Rate Notes, 11/15/19 1,649,120
1,600,000(b) Sanders Re, 5.183% (6 Month USD
LIBOR + 300 bps), 12/6/21 (144A) (Cat Bond) 1,597,280
1,100,000+(f)(g) Sector Re V, Series 6, Class D, Variable Rate Notes,
12/1/21 (144A) 101,530
1,200,007+(f)(g) Sector Re V, Series 7, Class G, Variable Rate Notes,
3/1/22 (144A) 879,965
500,000+(f)(g) Sector Re V, Variable Rate Notes, 12/1/22 (144A) 529,650
500,000+(f)(g) Sector Re V, Variable Rate Notes, 12/1/22 (144A) 529,650
500,000+(f)(g) Sector Re V, Variable Rate Notes, 3/1/23 (144A) 504,750
1,199,993+(f)(g) Sector Re V, Variable Rate Notes, 3/1/23 (144A) 1,211,393
500,000+(f)(g) Seminole Re 2018, Variable Rate Notes, 1/15/19 457,700
1,700,000+(f)(g) Silverton Re, Variable Rate Notes, 9/17/18 (144A) 8,840
2,000,000+(f)(g) Silverton Re, Variable Rate Notes, 9/16/19 (144A) 418,000
1,000,000(b) Skyline Re, 4.42% (3 Month U.S. Treasury
Bill + 250 bps), 1/6/20 (144A) (Cat Bond) 1,004,000
3,000,000+(f)(g) St. Andrews Re 2017-1, Variable Rate Notes, 2/1/19 607,200
1,737,984+(f)(g) St. Andrews Re 2017-4, Variable Rate Notes, 6/1/19 1,909,002
500,000+(f)(g) Thopas Re 2018, Variable Rate Notes, 12/31/21 525,000
2,700,000(b) Ursa Re, 3.5% (ZERO + 350 bps), 5/27/20
(144A) (Cat Bond) 2,702,430
3,000,000(b) Ursa Re, 4.0% (ZERO + 400 bps), 12/10/19
(144A) (Cat Bond) 2,997,000
800,000(b) Ursa Re, 6.0% (ZERO + 600 bps), 5/27/20
(144A) (Cat Bond) 808,880
4,000,000+(f)(g) Versutus Re 2016-A, Variable Rate Notes, 11/30/20 30,800
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 45
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
4,000,000+(f)(g) Versutus Re 2017-A, Variable Rate Notes, 11/30/21 $ 99,200
2,000,000+(f)(g) Versutus Re 2018-A, Variable Rate Notes, 12/31/21 2,052,600
1,000,000+(f)(g) Viribus Re 2018, Variable Rate Notes, 12/31/21 1,049,300
1,750,000(b) Vitality Re V, 3.665% (3 Month U.S. Treasury
Bill + 175 bps), 1/7/19 (144A) (Cat Bond) 1,745,800
2,900,000(b) Vitality Re VII, 4.065% (3 Month U.S. Treasury
Bill + 215 bps), 1/7/20 (144A) (Cat Bond) 2,912,470
1,000,000(b) Vitality Re VII, 4.565% (3 Month U.S. Treasury
Bill + 265 bps), 1/7/20 (144A) (Cat Bond) 1,009,200
500,000+(f)(g) Walton Health Re 2018, Variable Rate Notes, 6/15/19 406,634
1,600,000+(f)(g) Woburn Re 2018, Variable Rate Notes, 12/31/21 1,652,160
---------------
$ 176,692,846
---------------
Total Insurance $ 270,239,646
------------------------------------------------------------------------------------------------
MATERIALS -- 1.3%
Commodity Chemicals -- 0.1%
5,135,000 NOVA Chemicals Corp., 4.875%, 6/1/24 (144A) $ 4,878,250
------------------------------------------------------------------------------------------------
Construction Materials -- 0.2%
11,000,000 CRH America, Inc., 3.875%, 5/18/25 (144A) $ 10,849,410
------------------------------------------------------------------------------------------------
Diversified Chemicals -- 0.3%
6,050,000 Blue Cube Spinco, Inc., 10.0%, 10/15/25 $ 7,033,125
4,930,000 CF Industries, Inc., 5.375%, 3/15/44 4,350,725
6,365,000 Chemours Co., 7.0%, 5/15/25 6,826,462
---------------
$ 18,210,312
------------------------------------------------------------------------------------------------
Diversified Metals & Mining -- 0.3%
1,325,000 Anglo American Capital Plc, 4.0%, 9/11/27 (144A) $ 1,233,604
2,750,000 Anglo American Capital Plc, 4.75%, 4/10/27 (144A) 2,711,317
6,600,000 Anglo American Capital Plc, 4.875%, 5/14/25 (144A) 6,632,377
1,850,000 Freeport-McMoRan, Inc., 3.875%, 3/15/23 1,748,250
2,150,000 Freeport-McMoRan, Inc., 4.55%, 11/14/24 2,042,500
---------------
$ 14,368,048
------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.1%
4,650,000 Crown Americas LLC / Crown Americas Capital
Corp. V, 4.25%, 9/30/26 $ 4,254,750
------------------------------------------------------------------------------------------------
Paper Packaging -- 0.1%
1,275,000 International Paper Co., 4.8%, 6/15/44 $ 1,235,930
2,575,000 International Paper Co., 6.0%, 11/15/41 2,843,099
---------------
$ 4,079,029
------------------------------------------------------------------------------------------------
Specialty Chemicals -- 0.1%
5,176,000 Ingevity Corp., 4.5%, 2/1/26 (144A) $ 4,878,380
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
46 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Steel -- 0.1%
3,550,000 Commercial Metals Co., 4.875%, 5/15/23 $ 3,471,190
1,525,000 Commercial Metals Co., 5.75%, 4/15/26 (144A) 1,483,063
---------------
$ 4,954,253
---------------
Total Materials $ 66,472,432
------------------------------------------------------------------------------------------------
MEDIA -- 0.5%
Cable & Satellite -- 0.4%
13,455,000 Comcast Corp., 3.55%, 5/1/28 $ 12,849,779
5,013,000 Sky Plc, 3.75%, 9/16/24 (144A) 4,984,046
3,450,000 Videotron, Ltd., 5.375%, 6/15/24 (144A) 3,531,937
---------------
$ 21,365,762
------------------------------------------------------------------------------------------------
Movies & Entertainment -- 0.1%
5,302,000 VOC Escrow, Ltd., 5.0%, 2/15/28 (144A) $ 5,008,852
---------------
Total Media $ 26,374,614
------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES -- 1.5%
Biotechnology -- 0.6%
13,400,000 Baxalta, Inc., 3.6%, 6/23/22 $ 13,262,296
3,550,000 Biogen, Inc., 3.625%, 9/15/22 3,544,362
11,735,000 Biogen, Inc., 5.2%, 9/15/45 12,453,433
---------------
$ 29,260,091
------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.2%
11,200,000 Thermo Fisher Scientific, Inc., 3.0%, 4/15/23 $ 10,889,737
------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.7%
8,000,000 Allergan Funding SCS, 4.85%, 6/15/44 $ 7,727,174
4,900,000 Bayer US Finance II LLC, 4.25%, 12/15/25 (144A) 4,926,220
1,391,000 Perrigo Finance Unlimited Co., 3.5%, 3/15/21 1,386,456
4,570,000 Perrigo Finance Unlimited Co., 3.9%, 12/15/24 4,447,773
11,181,000 Perrigo Finance Unlimited Co., 4.375%, 3/15/26 10,942,845
4,200,000 Shire Acquisitions Investments Ireland, DAC,
3.2%, 9/23/26 3,848,833
---------------
$ 33,279,301
---------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 73,429,129
------------------------------------------------------------------------------------------------
REAL ESTATE -- 1.5%
Diversified REIT -- 0.5%
3,450,000 Duke Realty LP, 3.625%, 4/15/23 $ 3,420,347
8,560,000 Duke Realty LP, 3.75%, 12/1/24 8,435,667
9,500,000 Essex Portfolio LP, 3.5%, 4/1/25 9,171,310
1,480,000 Essex Portfolio LP, 3.625%, 5/1/27 1,415,441
---------------
$ 22,442,765
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 47
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Health Care REIT -- 0.2%
6,805,000 Healthcare Trust of America Holdings LP, 3.5%, 8/1/26 $ 6,396,010
4,675,000 Healthcare Trust of America Holdings LP, 3.75%, 7/1/27 4,435,800
---------------
$ 10,831,810
------------------------------------------------------------------------------------------------
Office REIT -- 0.6%
2,681,000 Alexandria Real Estate Equities, Inc., 2.75%, 1/15/20 $ 2,659,104
2,768,000 Alexandria Real Estate Equities, Inc., 3.9%, 6/15/23 2,776,201
1,350,000 Alexandria Real Estate Equities, Inc., 3.95%, 1/15/27 1,303,282
3,415,000 Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22 3,524,486
2,032,000 Highwoods Realty LP, 3.2%, 6/15/21 2,003,233
3,390,000 Highwoods Realty LP, 3.625%, 1/15/23 3,327,949
7,105,000 Highwoods Realty LP, 4.125%, 3/15/28 6,977,284
7,325,000 Piedmont Operating Partnership LP, 3.4%, 6/1/23 7,051,022
---------------
$ 29,622,561
------------------------------------------------------------------------------------------------
Residential REIT -- 0.2%
1,520,000 UDR, Inc., 2.95%, 9/1/26 $ 1,393,628
10,450,000 UDR, Inc., 4.0%, 10/1/25 10,383,592
---------------
$ 11,777,220
---------------
Total Real Estate $ 74,674,356
------------------------------------------------------------------------------------------------
RETAILING -- 0.8%
Automotive Retail -- 0.1%
3,994,000 AutoZone, Inc., 2.5%, 4/15/21 $ 3,897,320
------------------------------------------------------------------------------------------------
Home Improvement Retail -- 0.1%
4,520,000 Home Depot, Inc., 2.625%, 6/1/22 $ 4,433,159
------------------------------------------------------------------------------------------------
Internet Retail -- 0.6%
3,265,000 Amazon.com, Inc., 2.8%, 8/22/24 $ 3,145,952
7,170,000 Booking Holdings, Inc., 3.55%, 3/15/28 6,824,628
1,925,000 Booking Holdings, Inc., 3.6%, 6/1/26 1,873,232
7,875,000 Booking Holdings, Inc., 3.65%, 3/15/25 7,701,914
5,900,000 Expedia Group, Inc., 4.5%, 8/15/24 5,892,756
950,000 Expedia Group, Inc., 5.0%, 2/15/26 967,663
4,125,000 Expedia, Inc., 3.8%, 2/15/28 3,777,459
---------------
$ 30,183,604
---------------
Total Retailing $ 38,514,083
------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.8%
Application Software -- 0.1%
5,650,000 salesforce.com, Inc., 3.7%, 4/11/28 $ 5,609,597
------------------------------------------------------------------------------------------------
Data Processing & Outsourced Services -- 0.2%
3,000,000 Cardtronics, Inc., 5.125%, 8/1/22 $ 2,865,000
4,540,000 Cardtronics, Inc. / Cardtronics USA, Inc., 5.5%,
5/1/25 (144A) 4,108,700
4,550,000 Visa, Inc., 2.2%, 12/14/20 4,476,098
---------------
$ 11,449,798
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
48 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Internet Software & Services -- 0.2%
9,595,000 Alibaba Group Holding, Ltd., 3.4%, 12/6/27 $ 8,940,029
------------------------------------------------------------------------------------------------
Systems Software -- 0.3%
5,225,000 Microsoft Corp., 2.0%, 8/8/23 $ 4,932,124
10,600,000 Oracle Corp., 2.5%, 5/15/22 10,321,406
---------------
$ 15,253,530
---------------
Total Software & Services $ 41,252,954
------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.5%
Communications Equipment -- 0.1%
4,240,000 CommScope Technologies LLC, 5.0%,
3/15/27 (144A) $ 3,990,900
------------------------------------------------------------------------------------------------
Computer Hardware Storage & Peripherals -- 0.1%
4,600,000 NCR Corp., 4.625%, 2/15/21 $ 4,565,500
------------------------------------------------------------------------------------------------
Electronic Components -- 0.2%
8,412,000 Amphenol Corp., 3.125%, 9/15/21 $ 8,363,414
3,065,000 Amphenol Corp., 3.2%, 4/1/24 2,956,932
---------------
$ 11,320,346
------------------------------------------------------------------------------------------------
Electronic Manufacturing Services -- 0.1%
5,780,000 Flex, Ltd., 4.75%, 6/15/25 $ 5,835,528
---------------
Total Technology Hardware & Equipment $ 25,712,274
------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.3%
Integrated Telecommunication Services -- 0.1%
2,350,000 GTP Acquisition Partners I LLC, 2.35%,
6/15/20 (144A) $ 2,305,800
1,315,000 Level 3 Financing, Inc., 5.375%, 1/15/24 1,288,043
1,500,000 Unison Ground Lease Funding LLC, 2.981%,
3/15/20 (144A) 1,475,868
---------------
$ 5,069,711
------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.2%
2,200,000 Crown Castle Towers LLC, 4.883%, 8/15/20 (144A) $ 2,256,281
1,800,000 SBA Tower Trust, 2.877%, 7/9/21 (144A) 1,748,457
6,975,000 SBA Tower Trust, 3.869%, 10/8/24 (144A) 7,045,320
---------------
$ 11,050,058
---------------
Total Telecommunication Services $ 16,119,769
------------------------------------------------------------------------------------------------
TRANSPORTATION -- 1.4%
Airlines -- 0.2%
6,921,000 Air Canada 2017-1 Class AA Pass Through Trust,
3.3%, 1/15/30 (144A) $ 6,653,723
2,475,000 Delta Air Lines, Inc., 2.875%, 3/13/20 2,458,699
---------------
$ 9,112,422
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 49
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Highways & Railtracks -- 0.2%
3,950,000 ERAC USA Finance LLC, 3.3%, 12/1/26 (144A) $ 3,713,168
1,300,000 ERAC USA Finance LLC, 3.8%, 11/1/25 (144A) 1,279,850
4,600,000 ERAC USA Finance LLC, 4.5%, 2/15/45 (144A) 4,336,277
---------------
$ 9,329,295
------------------------------------------------------------------------------------------------
Railroads -- 0.8%
15,435,000 Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 $ 15,050,615
6,650,000 TTX Co., 3.6%, 1/15/25 (144A) 6,516,496
3,250,000 TTX Co., 4.2%, 7/1/46 (144A) 3,178,759
13,715,000 Union Pacific Corp., 3.375%, 2/1/35 12,263,998
---------------
$ 37,009,868
------------------------------------------------------------------------------------------------
Trucking -- 0.2%
4,825,000 Penske Truck Leasing Co. LP / PTL Finance Corp.,
3.375%, 2/1/22 (144A) $ 4,755,759
7,330,000 Penske Truck Leasing Co. LP / PTL Finance Corp.,
3.95%, 3/10/25 (144A) 7,244,517
---------------
$ 12,000,276
---------------
Total Transportation $ 67,451,861
------------------------------------------------------------------------------------------------
UTILITIES -- 3.3%
Electric Utilities -- 1.9%
10,200,000 Dubai Electricity & Water Authority, 7.375%,
10/21/20 (144A) $ 11,041,908
2,150,000(a)(c) Electricite de France SA, 5.25% (USD Swap
Rate + 371 bps) (144A) 2,098,400
2,800,000 Enel Finance International NV, 4.75%,
5/25/47 (144A) 2,647,533
2,320,000(c) Enel S.p.A., 8.75% (5 Year USD Swap
Rate + 588 bps), 9/24/73 (144A) 2,581,000
6,365,000 Exelon Corp., 2.85%, 6/15/20 6,308,343
4,655,000 Iberdrola International BV, 6.75%, 7/15/36 5,934,627
2,725,000 Indiana Michigan Power Co., 4.55%, 3/15/46 2,823,332
4,000,000 Israel Electric Corp., Ltd., 4.25%, 8/14/28 (144A) 3,846,632
5,450,000 Israel Electric Corp., Ltd., 5.0%, 11/12/24 (144A) 5,594,425
779,000 Israel Electric Corp., Ltd., 7.25%, 1/15/19 (144A) 793,996
610,000 Israel Electric Corp., Ltd., 9.375%, 1/28/20 (144A) 661,783
6,536,000 NextEra Energy Capital Holdings, Inc., 2.3%, 4/1/19 6,508,158
10,270,000 NextEra Energy Capital Holdings, Inc., 3.55%, 5/1/27 9,871,788
286,252 OrCal Geothermal, Inc., 6.21%, 12/30/20 (144A) 281,070
11,910,000 PPL Capital Funding, Inc, 3.1%, 5/15/26 11,056,112
3,785,714 Southern California Edison Co., 1.845%, 2/1/22 3,692,256
5,720,000(a)(c) Southern California Edison Co., 6.25% (3 Month
USD LIBOR + 420 bps) 6,091,800
11,475,000 Southwestern Electric Power Co., 3.9%, 4/1/45 10,831,493
---------------
$ 92,664,656
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
50 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Gas Utilities -- 0.4%
2,215,000 AmeriGas Partners LP / AmeriGas Finance Corp.,
5.5%, 5/20/25 $ 2,145,781
3,060,000 Boston Gas Co., 3.15%, 8/1/27 (144A) 2,886,693
4,025,000 DCP Midstream Operating LP, 5.6%, 4/1/44 3,798,594
2,007,515 Nakilat, Inc., 6.267%, 12/31/33 (144A) 2,193,611
8,870,000 Texas Eastern Transmission LP, 3.5%, 1/15/28 (144A) 8,351,958
---------------
$ 19,376,637
------------------------------------------------------------------------------------------------
Independent Power Producers &
Energy Traders -- 0.2%
457,676 Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A) $ 492,383
2,850,000 Calpine Corp., 5.25%, 6/1/26 (144A) 2,684,344
6,925,000 Calpine Corp., 5.75%, 1/15/25 6,332,047
712,648 Kiowa Power Partners LLC, 5.737%, 3/30/21 (144A) 719,684
2,327,000 NRG Energy, Inc., 5.75%, 1/15/28 (144A) 2,292,095
---------------
$ 12,520,553
------------------------------------------------------------------------------------------------
Multi-Utilities -- 0.8%
8,385,000 Consolidated Edison Co. of New York, Inc.,
4.625%, 12/1/54 $ 8,610,232
6,728,000 Dominion Energy, Inc., 2.579%, 7/1/20 6,629,327
2,700,000 Dominion Energy, Inc., 2.75%, 1/15/22 2,618,456
11,790,000 Puget Sound Energy, Inc., 4.223%, 6/15/48 11,977,907
1,914,286 San Diego Gas & Electric Co., 1.914%, 2/1/22 1,868,026
9,720,000 Sempra Energy, 3.4%, 2/1/28 9,119,040
---------------
$ 40,822,988
---------------
Total Utilities $ 165,384,834
------------------------------------------------------------------------------------------------
TOTAL CORPORATE BONDS
(Cost $1,851,383,567) $ 1,816,007,140
------------------------------------------------------------------------------------------------
FOREIGN GOVERNMENT BONDS --
0.6% of Net Assets
Kuwait -- 0.1%
5,880,000 Kuwait International Government Bond, 3.5%,
3/20/27 (144A) $ 5,723,710
------------------------------------------------------------------------------------------------
Mexico -- 0.2%
13,425,000 Mexico Government International Bond,
4.6%, 2/10/48 $ 12,351,000
------------------------------------------------------------------------------------------------
Nigeria -- 0.1%
4,550,000 Africa Finance Corp., 4.375%, 4/29/20 (144A) $ 4,549,408
------------------------------------------------------------------------------------------------
Saudi Arabia -- 0.2%
7,810,000 Saudi Government International Bond, 4.0%,
4/17/25 (144A) $ 7,771,419
------------------------------------------------------------------------------------------------
TOTAL FOREIGN GOVERNMENT BONDS
(Cost $30,445,633) $ 30,395,537
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 51
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
MUNICIPAL BONDS -- 2.3% of Net Assets(h)
Municipal General -- 0.9%
2,350,000 Central Florida Expressway Authority, 5.0%, 7/1/38 $ 2,702,124
16,795,000(i) Commonwealth of Pennsylvania, 1st Series,
4.0%, 1/1/29 17,647,010
4,775,000 Illinois Finance Authority, Northwestern Memorial
Healthcare, 4.0%, 7/15/47 4,908,509
2,410,000 JEA Water & Sewer System Revenue, Series A,
4.0%, 10/1/35 2,551,250
2,435,000 JEA Water & Sewer System Revenue, Series A,
4.0%, 10/1/39 2,559,843
4,075,000 JobsOhio Beverage System, Ohio Taxable Senior Lien,
Series B, 3.985%, 1/1/29 4,190,241
1,035,000 JobsOhio Beverage System, Ohio Taxable Senior Lien,
Series B, 4.532%, 1/1/35 1,118,618
1,695,000 Massachusetts Development Finance Agency,
Partners Healthcare System, 4.0%, 7/1/36 1,749,121
2,910,000 Massachusetts Development Finance Agency,
Partners Healthcare System, 4.0%, 7/1/41 2,979,345
2,830,000 Virginia Commonwealth Transportation Board,
Transportation Capital Projects, 3.0%, 5/15/39 2,601,874
2,325,000 Virginia Commonwealth Transportation Board,
Transportation Capital Projects, 4.0%, 5/15/31 2,464,570
2,335,000 Virginia Commonwealth Transportation Board,
Transportation Capital Projects, 4.0%, 5/15/32 2,467,418
---------------
$ 47,939,923
------------------------------------------------------------------------------------------------
Municipal Higher Education -- 1.0%
525,000 Amherst College, 3.794%, 11/1/42 $ 519,835
1,025,000 Baylor University, Series A, 4.313%, 3/1/42 1,041,636
7,425,000 Massachusetts Development Finance Agency,
Harvard University, Series A, 5.0%, 7/15/40 9,595,402
7,300,000 New York State Dormitory Authority, Columbia
University, Series A-2, 5.0%, 10/1/46 9,632,861
8,345,000 Rhode Island Health & Educational Building Corp.,
Brown University, Series A, 4.0%, 9/1/47 8,689,231
16,810,000 University of California, Series AX, 3.063%, 7/1/25 16,358,652
3,100,000 University of Virginia, Revenue, Refunding General
Green, Series A-2, 5.0%, 4/1/45 3,510,254
---------------
$ 49,347,871
------------------------------------------------------------------------------------------------
Municipal Medical -- 0.0%+
1,765,000 Ohio Higher Educational Facility Commission,
Cleveland Clinic Health, Series A 1, 5.0%, 1/1/42 $ 1,931,033
------------------------------------------------------------------------------------------------
Municipal Obligation -- 0.1%
3,150,000(i) State of Texas, Transportation Commission Mobility
Fund, Series A, 4.0%, 10/1/44 $ 3,278,803
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
52 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Municipal School District -- 0.2%
2,800,000(i) Frisco Independent School District, Refunding
School Building, 4.0%, 8/15/40 (PSF-GTD Insured) $ 2,925,748
1,750,000(i) Frisco Independent School District, Refunding
School Building, 4.0%, 8/15/45 (PSF-GTD Insured) 1,824,340
2,425,000(i) State of Florida, Capital Outlay, Series C,
4.0%, 6/1/31 2,631,125
---------------
$ 7,381,213
------------------------------------------------------------------------------------------------
Municipal Transportation -- 0.1%
3,220,000 Fairfax County Economic Development Authority,
Series A, 2.875%, 4/1/34 $ 2,950,099
600,000 Port Authority of New York & New Jersey,
Consolidated-174TH, 4.458%, 10/1/62 637,242
---------------
$ 3,587,341
------------------------------------------------------------------------------------------------
TOTAL MUNICIPAL BONDS
(Cost $115,614,247) $ 113,466,184
------------------------------------------------------------------------------------------------
SENIOR SECURED FLOATING RATE
LOAN INTERESTS -- 3.0% of Net Assets*(b)
AUTOMOBILES & COMPONENTS -- 0.2%
Auto Parts & Equipment -- 0.2%
613,855 Allison Transmission, Inc., New Term Loan, 3.85%
(LIBOR + 175 bps), 9/23/22 $ 616,924
4,161,625 American Axle & Manufacturing, Inc., Tranche B Term
Loan, 4.35% (LIBOR + 225 bps), 4/6/24 4,152,262
1,071,077 Energy Acquisition LP, Initial Term Loan,
6.588%, 6/26/25 1,065,722
814,623 Federal-Mogul Corp., Tranche C Term Loan, 5.825%
(LIBOR + 375 bps), 4/15/21 817,338
1,424,519 TI Group Automotive Systems LLC, Initial US Term
Loan, 4.594% (LIBOR + 250 bps), 6/30/22 1,427,190
1,181,472 Tower Automotive Holdings USA LLC, Initial Term Loan,
4.813% (LIBOR + 275 bps), 3/7/24 1,178,518
---------------
$ 9,257,954
------------------------------------------------------------------------------------------------
Tires & Rubber -- 0.0%+
1,396,667 Goodyear Tire & Rubber Co., Second Lien Term Loan,
4.05% (LIBOR + 200 bps), 3/3/25 $ 1,400,375
---------------
Total Automobiles & Components $ 10,658,329
------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 0.3%
Aerospace & Defense -- 0.1%
956,522 Alion Science and Technology Corp., First Lien Term
Loan, 6.594% (LIBOR + 450 bps), 8/19/21 $ 964,293
3,230,000 MacDonald, Dettwiler and Associates, Ltd., Initial
Term B Loan, 4.854% (LIBOR + 275 bps), 10/4/24 3,221,925
---------------
$ 4,186,218
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 53
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Building Products -- 0.1%
420,023 Builders FirstSource, Inc., Refinancing Term Loan,
5.334% (LIBOR + 300 bps), 2/29/24 $ 420,735
5,985,000 NCI Building Systems, Inc., Initial Term Loan,
4.094% (LIBOR + 200 bps), 2/7/25 5,971,905
---------------
$ 6,392,640
------------------------------------------------------------------------------------------------
Construction Machinery & Heavy Trucks -- 0.0%+
736,875 Navistar, Inc., Tranche B Term Loan, 5.53%
(LIBOR + 350 bps), 11/6/24 $ 740,099
------------------------------------------------------------------------------------------------
Electrical Components & Equipment -- 0.0%+
1,357,416 Dell International LLC, Refinancing Term B Loan,
4.1% (LIBOR + 200 bps), 9/7/23 $ 1,352,992
------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.1%
504,119 Filtration Group Corp., Initial Dollar Term Loan,
5.094% (LIBOR + 300 bps), 3/29/25 $ 505,116
1,223,612 Milacron LLC, Term B Loan, 4.594%
(LIBOR + 250 bps), 9/28/23 1,225,907
---------------
$ 1,731,023
------------------------------------------------------------------------------------------------
Industrial Machinery -- 0.0%+
1,164,162 NN, Inc., Tranche B Term Loan, 5.844%
(LIBOR + 375 bps), 10/19/22 $ 1,164,162
------------------------------------------------------------------------------------------------
Trading Companies & Distributors -- 0.0%+
588,079 Nexeo Solutions LLC, Term B-1 Loan, 5.584%
(LIBOR + 325 bps), 6/9/23 $ 589,549
83,620 WESCO Distribution, Inc., Tranche B-1 Term Loan,
5.094% (LIBOR + 300 bps), 12/12/19 83,724
---------------
$ 673,273
---------------
Total Capital Goods $ 16,240,407
------------------------------------------------------------------------------------------------
COMMERCIAL & PROFESSIONAL SERVICES -- 0.1%
Commercial Services & Supplies -- 0.0%+
387,198 Infiltrator Water Technologies LLC, First Lien Term B-2
Loan, 5.334% (LIBOR + 300 bps), 5/27/22 $ 388,650
------------------------------------------------------------------------------------------------
Diversified Support Services -- 0.1%
3,868,119 Asurion LLC (fka Asurion Corp.), Term
Loan B7, 5.077%, 11/29/24 $ 3,858,449
------------------------------------------------------------------------------------------------
Environmental & Facilities Services -- 0.0%+
858,370 GFL Environmental, Inc., Effective Date Incremental
Term Loan, 5.084% (LIBOR + 275 bps), 5/30/25 $ 854,078
458,316 Wrangler Buyer Corp. (aka Waste Industries
USA, Inc.), Initial Term Loan, 4.844%
(LIBOR + 275 bps), 9/27/24 458,030
---------------
$ 1,312,108
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
54 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Security & Alarm Services -- 0.0%+
593,529 GW Honos Security Corp. (Garda World Security
Corp.), Term B Loan, 5.805% (LIBOR + 350 bps/
PRIME + 250 bps), 5/24/24 $ 597,238
---------------
Total Commercial & Professional Services $ 6,156,445
------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.0%+
Home Furnishings -- 0.0%+
1,646,634 Serta Simmons Bedding LLC, First Lien Initial Term
Loan, 5.747% (LIBOR + 350 bps), 11/8/23 $ 1,406,327
---------------
Total Consumer Durables & Apparel $ 1,406,327
------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Casinos & Gaming -- 0.1%
4,998,294 Scientific Games International, Inc., Initial Term B-5
Loan, 4.906% (LIBOR + 275 bps), 8/14/24 $ 4,985,173
------------------------------------------------------------------------------------------------
Education Services -- 0.0%+
569,481 Bright Horizons Family Solutions, Inc., Term B Loan,
3.844% (LIBOR + 175 bps), 11/7/23 $ 568,235
------------------------------------------------------------------------------------------------
Leisure Facilities -- 0.0%+
400,228 Fitness International LLC, Term B Loan, 5.48%
(LIBOR + 325 bps), 4/18/25 $ 401,779
1,292,915 Six Flags Theme Parks, Inc., Tranche B Term Loan,
3.85% (LIBOR + 175 bps), 6/30/22 1,298,571
---------------
$ 1,700,350
------------------------------------------------------------------------------------------------
Restaurants -- 0.0%+
1,683,890 1011778 BC Unlimited Liability Co. (New Red
Finance, Inc.) (aka Burger King/Tim Hortons), Term
B-3 Loan, 4.344% (LIBOR + 225 bps), 2/16/24 $ 1,676,776
------------------------------------------------------------------------------------------------
Specialized Consumer Services -- 0.1%
643,500 Constellis Holdings LLC, First Lien Term B Loan,
7.334% (LIBOR + 500 bps), 4/21/24 $ 647,120
2,216,165 KUEHG Corp. (fka KC MergerSub, Inc.), Term B-2
Loan, 6.084% (LIBOR + 375 bps), 8/12/22 2,221,014
---------------
$ 2,868,134
---------------
Total Consumer Services $ 11,798,668
------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.1%
Diversified Capital Markets -- 0.0%+
1,488,750 Avolon TLB Borrower 1 (US) LLC, Term B-3 Loan,
4.088% (LIBOR + 200 bps), 1/15/25 $ 1,473,192
------------------------------------------------------------------------------------------------
Specialized Finance -- 0.1%
331,869 Avast Software BV, 2018 Refinancing Dollar Term
Loan, 4.834% (LIBOR + 250 bps), 9/29/23 $ 332,551
1,500,000 SIWF Holdings, Inc., First Lien Initial Term Loan,
6.323% (LIBOR + 425 bps), 6/15/25 1,511,250
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 55
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Specialized Finance -- (continued)
1,451,278 Trans Union LLC, 2017 Replacement Term B-3 Loan,
4.094% (LIBOR + 200 bps), 4/10/23 $ 1,449,101
1,793,159 Vistra Operations Co., LLC (fka Tex Operations Co., LLC),
Initial Term Loan, 4.094% (LIBOR + 200 bps), 8/4/23 1,782,938
---------------
$ 5,075,840
---------------
Total Diversified Financials $ 6,549,032
------------------------------------------------------------------------------------------------
ENERGY -- 0.1%
Oil & Gas Equipment & Services -- 0.0%+
1,715,000 Keane Group Holdings LLC, Initial Term Loan,
5.875% (LIBOR + 375 bps), 5/25/25 $ 1,721,431
------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- 0.1%
1,110,467 Energy Transfer Equity LP, Refinanced Term Loan,
4.091% (LIBOR + 200 bps), 2/2/24 $ 1,102,312
1,798,445 Gulf Finance LLC, Tranche B Term Loan, 7.59%
(LIBOR + 525 bps), 8/25/23 1,560,151
---------------
$ 2,662,463
---------------
Total Energy $ 4,383,894
------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 0.1%
Agricultural Products -- 0.0%+
1,673,075 Darling Ingredients Inc. (fka Darling International Inc.),
Term B Loan, 4.138% (LIBOR + 200 bps/
PRIME + 100 bps), 12/18/24 $ 1,683,732
------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.1%
4,056,969 JBS USA Lux SA (fka JBS USA LLC), Initial Term Loan,
4.835% (LIBOR + 250 bps), 10/30/22 $ 4,039,641
268,576 Pinnacle Foods Finance LLC, Initial B Term Loan,
3.751% (LIBOR + 175 bps), 2/2/24 268,958
---------------
$ 4,308,599
---------------
Total Food, Beverage & Tobacco $ 5,992,331
------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.3%
Health Care Facilities -- 0.1%
651,192 CHS/Community Health Systems, Inc.,
Incremental 2019 Term G Loan, 5.307%
(LIBOR + 300 bps), 12/31/19 $ 649,605
1,206,201 CHS/Community Health Systems, Inc.,
Incremental 2021 Term H Loan, 5.557%
(LIBOR + 325 bps), 1/27/21 1,179,187
299,250 HCA, Inc., Tranche B-10 Term Loan, 4.094%
(LIBOR + 200 bps), 3/13/25 300,522
1,423,292 HCA, Inc., Tranche B-11 Term Loan, 3.844%
(LIBOR + 175 bps), 3/17/23 1,426,294
536,052 Kindred Healthcare, Inc., New Term Loan, 5.875%
(LIBOR + 350 bps), 4/9/21 536,380
The accompanying notes are an integral part of these financial statements.
56 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Health Care Facilities -- (continued)
1,151,611 Select Medical Corp., Tranche B Term Loan, 4.801%
(LIBOR + 275 bps/PRIME + 175 bps), 3/1/21 $ 1,150,171
586,207 Vizient, Inc., Term B-4 Loan, 4.844%
(LIBOR + 275 bps), 2/13/23 587,552
---------------
$ 5,829,711
------------------------------------------------------------------------------------------------
Health Care Services -- 0.1%
790,000 Alliance HealthCare Services, Inc., First Lien Initial
Term Loan, 6.594% (LIBOR + 450 bps), 10/24/23 $ 795,925
243,531 DaVita HealthCare Partners, Inc., Tranche B Term
Loan, 4.844% (LIBOR + 275 bps), 6/24/21 244,465
253,083(j) Gentiva Health Services, Inc., Term Loan, 6/23/25 253,716
453,416 MPH Acquisition Holdings LLC, Initial Term Loan,
5.084% (LIBOR + 275 bps), 6/7/23 451,680
1,086,250 Team Health Holdings, Inc., Initial Term Loan, 4.844%
(LIBOR + 275 bps), 2/6/24 1,051,400
---------------
$ 2,797,186
------------------------------------------------------------------------------------------------
Health Care Supplies -- 0.1%
2,529,450 Kinetic Concepts, Inc., Dollar Term Loan, 5.584%
(LIBOR + 325 bps), 2/2/24 $ 2,537,355
726,438 Sterigenics-Nordion Holdings LLC, Incremental Term
Loan, 5.334% (LIBOR + 300 bps), 5/15/22 730,221
---------------
$ 3,267,576
------------------------------------------------------------------------------------------------
Health Care Technology -- 0.0%+
1,283,750 Change Healthcare Holdings, Inc. (fka Emdeon, Inc.),
Closing Date Term Loan, 4.844%
(LIBOR + 275 bps), 3/1/24 $ 1,281,102
508,250 Quintiles IMS, Inc., Term B-1 Dollar Loan, 4.334%
(LIBOR + 200 bps), 3/7/24 507,360
---------------
$ 1,788,462
---------------
Total Health Care Equipment & Services $ 13,682,935
------------------------------------------------------------------------------------------------
HOUSEHOLD & PERSONAL PRODUCTS -- 0.0%+
Household Products -- 0.0%+
496,250 Alphabet Holding Co., Inc. (aka Nature's Bounty),
First Lien Initial Term Loan, 5.594%
(LIBOR + 350 bps), 9/26/24 $ 466,682
---------------
Total Household & Personal Products $ 466,682
------------------------------------------------------------------------------------------------
INSURANCE -- 0.0%+
Insurance Brokers -- 0.0%+
476,469 NFP Corp., Term B Loan, 5.094%
(LIBOR + 300 bps), 1/8/24 $ 473,889
------------------------------------------------------------------------------------------------
Property & Casualty Insurance -- 0.0%+
843,625 USI, Inc. (fka Compass Investors, Inc.), 2017 New
Term Loan, 5.334% (LIBOR + 300 bps), 5/16/24 $ 839,723
---------------
Total Insurance $ 1,313,612
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 57
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
MATERIALS -- 0.2%
Construction Materials -- 0.0%+
767,265 Unifrax I LLC, Initial Dollar Term Loan, 5.834%
(LIBOR + 350 bps), 4/4/24 $ 769,662
------------------------------------------------------------------------------------------------
Diversified Chemicals -- 0.0%+
481,302 Tronox, Ltd., First Lien Blocked Dollar Term Loan,
5.094% (LIBOR + 300 bps), 9/23/24 $ 481,954
1,110,698 Tronox, Ltd., First Lien Initial Dollar Term Loan,
5.094% (LIBOR + 300 bps), 9/23/24 1,112,202
---------------
$ 1,594,156
------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.1%
505,888 BWay Holding Co., Initial Term Loan, 5.587%
(LIBOR + 325 bps), 4/3/24 $ 506,995
2,743,125(j) IBC Capital I, Ltd. (aka Goodpack, Ltd.), First Lien
Tranche B-1 Term Loan, 9/11/23 2,749,983
---------------
$ 3,256,978
------------------------------------------------------------------------------------------------
Paper Packaging -- 0.0%+
493,750 Berry Global, Inc. (fka Berry Plastics Corp.), Term R
Loan, 4.046% (LIBOR + 200 bps), 1/19/24 $ 492,979
------------------------------------------------------------------------------------------------
Paper Products -- 0.0%+
320,038 Ranpak Corp., Tranche B-1 USD Term Loan, 5.344%
(LIBOR + 325 bps), 10/1/21 $ 320,038
------------------------------------------------------------------------------------------------
Specialty Chemicals -- 0.1%
413,421 Allnex (Luxembourg) & Cy SCA (fka AI Chem &
Cy SCA), Tranche B-2 Term Loan, 5.569%
(LIBOR + 325 bps), 9/13/23 $ 412,646
311,481 Allnex (Luxembourg) & Cy SCA (fka AI Chem &
Cy SCA), Tranche B-3 Term Loan, 5.569%
(LIBOR + 325 bps), 9/13/23 310,897
621,818 MacDermid, Inc. (Platform Specialty Products
Corp.), Tranche B-6 Term Loan, 5.094%
(LIBOR + 300 bps), 6/7/23 623,761
520,929 Omnova Solutions, Inc., Term B-2 Loan, 5.344%
(LIBOR + 325 bps), 8/25/23 523,533
141,161 WR Grace & Co-CONN, Term B-1 Loan, 4.084%
(LIBOR + 175 bps), 4/3/25 141,132
241,991 WR Grace & Co-CONN, Term B-2 Loan, 4.084%
(LIBOR + 175 bps), 4/3/25 241,941
---------------
$ 2,253,910
------------------------------------------------------------------------------------------------
Steel -- 0.0%+
394,000 Zekelman Industries, Inc. (fka JMC Steel Group, Inc.),
Term Loan, 4.582% (LIBOR + 225 bps), 6/14/21 $ 394,185
---------------
Total Materials $ 9,081,908
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
58 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
MEDIA -- 0.3%
Advertising -- 0.0%+
997,500 Lamar Media Corp., Term B Loan, 3.875%
(LIBOR + 175 bps), 3/14/25 $ 997,500
------------------------------------------------------------------------------------------------
Broadcasting -- 0.1%
1,287,000 Nielsen Finance LLC (VNU, Inc.), Class B-4 Term Loan,
4.046% (LIBOR + 200 bps), 10/4/23 $ 1,287,643
700,000(j) Sinclair Television Group, Inc., Term Loan B, 12/12/24 699,822
2,182,589 Univision Communications, Inc., 2017 Replacement
Repriced First Lien Term Loan, 4.844%
(LIBOR + 275 bps), 3/15/24 2,113,214
---------------
$ 4,100,679
------------------------------------------------------------------------------------------------
Cable & Satellite -- 0.0%+
1,643,430 Charter Communications Operating, LLC
(aka CCO Safari LLC), Term B Loan, 4.1%
(LIBOR + 200 bps), 4/30/25 $ 1,643,802
490,000 UPC Financing Partnership, Facility AR, 4.573%
(LIBOR + 250 bps), 1/15/26 485,284
---------------
$ 2,129,086
------------------------------------------------------------------------------------------------
Movies & Entertainment -- 0.2%
557,374 AMC Entertainment, Inc., Initial Term Loan, 4.323%
(LIBOR + 225 bps), 12/15/22 $ 557,325
2,043,730 Live Nation Entertainment, Inc., Term B-3 Loan,
3.875% (LIBOR + 175 bps), 10/31/23 2,041,175
2,351,606(j) NVA Holdings, Inc., First Lien Term B-3 Loan, 2/2/25 2,343,768
3,146,285 Rovi Solutions Corp. / Rovi Guides, Inc., Term B Loan,
4.6% (LIBOR + 250 bps), 7/2/21 3,156,117
---------------
$ 8,098,385
------------------------------------------------------------------------------------------------
Publishing -- 0.0%+
1,287,699 DH Publishing, L.P., Term B-6 Loan, 4.335%
(LIBOR + 225 bps), 8/20/23 $ 1,289,509
---------------
Total Media $ 16,615,159
------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES -- 0.3%
Biotechnology -- 0.0%+
725,165 Alkermes, Inc., 2023 Term Loan, 4.26%
(LIBOR + 225 bps), 3/27/23 $ 726,524
------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.1%
2,362,163 Catalent Pharma Solutions, Inc. (fka Cardinal
Health 409, Inc.), Dollar Term Loan, 4.344%
(LIBOR + 225 bps), 5/20/24 $ 2,362,716
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 59
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.2%
5,047,254 Endo Luxembourg Finance Co. I S.a r.l., Initial Term
Loan, 6.375% (LIBOR + 425 bps), 4/29/24 $ 5,023,593
715,937 Grifols Worldwide Operations, Ltd., Tranche B Term
Loan, 4.238% (LIBOR + 225 bps), 1/31/25 716,758
686,457 Mallinckrodt International Finance SA, 2017 Term B
Loan, 5.203% (LIBOR + 275 bps), 9/24/24 673,586
2,494,170 RPI Finance Trust, Initial Term Loan B-6, 4.334%
(LIBOR + 200 bps), 3/27/23 2,495,950
624,076 Valeant Pharmaceuticals International, Inc., Initial
Term Loan, 4.982% (LIBOR + 300 bps), 6/2/25 622,831
---------------
$ 9,532,718
---------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 12,621,958
------------------------------------------------------------------------------------------------
REAL ESTATE -- 0.0%+
Specialized REIT -- 0.0%+
1,608,967 Communications Sales & Leasing, Inc.
(CSL Capital LLC), Shortfall Term Loan, 5.094%
(LIBOR + 300 bps), 10/24/22 $ 1,540,779
---------------
Total Real Estate $ 1,540,779
------------------------------------------------------------------------------------------------
RETAILING -- 0.2%
Automotive Retail -- 0.1%
1,360,941 Cooper-Standard Automotive, Inc., Additional Term
B-1 Loan, 4.334% (LIBOR + 200 bps), 11/2/23 $ 1,362,642
1,978,126 CWGS Group LLC, Term Loan, 4.775%
(LIBOR + 275 bps), 11/8/23 1,961,745
---------------
$ 3,324,387
------------------------------------------------------------------------------------------------
Specialty Stores -- 0.1%
1,132,247 PetSmart, Inc., Tranche B-2 Term Loan, 5.01%
(LIBOR + 300 bps), 3/11/22 $ 940,614
2,686,500 Staples, Inc., Closing Date Term Loan, 6.358%
(LIBOR + 400 bps), 9/12/24 2,651,987
---------------
$ 3,592,601
---------------
Total Retailing $ 6,916,988
------------------------------------------------------------------------------------------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 0.1%
Semiconductor Equipment -- 0.0%+
1,083,722 Sensata Technologies BV, Sixth Amendment Term
Loan, 3.797% (LIBOR + 175 bps), 10/14/21 $ 1,086,657
------------------------------------------------------------------------------------------------
Semiconductors -- 0.1%
3,715,000 Microchip Technology, Inc., Initial Term Loan, 4.1%
(LIBOR + 200 bps), 5/29/25 $ 3,724,288
226,672 Micron Technology, Inc., Term Loan, 3.85%
(LIBOR + 175 bps), 4/26/22 227,663
The accompanying notes are an integral part of these financial statements.
60 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
Semiconductors -- (continued)
812,108 ON Semiconductor Corp., 2018 New Replacement
Term B-3 Loan, 3.844% (LIBOR + 175 bps), 3/31/23 $ 812,671
---------------
$ 4,764,622
---------------
Total Semiconductors & Semiconductor Equipment $ 5,851,279
------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.2%
Application Software -- 0.0%+
713,640 DTI Holdco, Inc., Replacement B-1 Term Loan,
6.844% (LIBOR + 475 bps), 9/29/23 $ 713,640
350,000 STG-Fairway Acquisitions, Inc., First Lien Term Loan,
7.344% (LIBOR + 525 bps), 6/30/22 350,000
---------------
$ 1,063,640
------------------------------------------------------------------------------------------------
Data Processing & Outsourced Services -- 0.1%
1,209,480 First Data Corp., 2022D New Dollar Term Loan,
4.091% (LIBOR + 200 bps), 7/8/22 $ 1,203,736
846,848 First Data Corp., 2024-A New Dollar Term Loan,
4.091% (LIBOR + 200 bps), 4/26/24 842,825
---------------
$ 2,046,561
------------------------------------------------------------------------------------------------
Internet Software & Services -- 0.0%+
1,851,609 Rackspace Hosting, Inc., First Lien Term B Loan,
5.363% (LIBOR + 300 bps), 11/3/23 $ 1,831,936
------------------------------------------------------------------------------------------------
IT Consulting & Other Services -- 0.1%
1,211,435 Go Daddy Operating Co., LLC (GD Finance Co., Inc.),
Tranche B-1 Term Loan, 4.344%
(LIBOR + 225 bps), 2/15/24 $ 1,207,144
812,625 Rocket Software, Inc., First Lien Term Loan, 6.084%
(LIBOR + 375 bps), 10/14/23 818,313
---------------
$ 2,025,457
------------------------------------------------------------------------------------------------
Systems Software -- 0.0%+
109,725 MA FinanceCo., LLC (aka Micro Focus
International Plc), Tranche B-3 Term Loan, 4.844%
(LIBOR + 275 bps), 6/21/24 $ 109,073
738,150 Seattle Spinco, Inc. (aka Micro Focus
International Plc), Initial Term Loan, 4.844%
(LIBOR + 275 bps), 6/21/24 737,535
---------------
$ 846,608
---------------
Total Software & Services $ 7,814,202
------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.0%+
Communications Equipment -- 0.0%+
894,911 Ciena Corp., Refinancing Term Loan, 4.584%
(LIBOR + 250 bps), 1/28/22 $ 899,386
---------------
Total Technology Hardware & Equipment $ 899,386
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 61
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.2%
Integrated Telecommunication Services -- 0.1%
3,735,614 CenturyLink, Inc., Initial Term B Loan, 4.844%
(LIBOR + 275 bps), 1/31/25 $ 3,664,903
1,174,768 GCI Holdings, Inc., New Term B Loan, 4.344%
(LIBOR + 225 bps), 2/2/22 1,174,768
1,200,000 Level 3 Financing, Inc., Tranche B 2024 Term Loan,
4.334% (LIBOR + 225 bps), 2/22/24 1,198,687
---------------
$ 6,038,358
------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.1%
1,830,562 Altice US Finance I Corp., March 2017 Refinancing
Term Loan, 4.344% (LIBOR + 225 bps), 7/28/25 $ 1,829,037
1,283,750 Sprint Communications, Inc., Initial Term Loan,
4.625% (LIBOR + 250 bps), 2/2/24 1,278,536
---------------
$ 3,107,573
---------------
Total Telecommunication Services $ 9,145,931
------------------------------------------------------------------------------------------------
UTILITIES -- 0.1%
Electric Utilities -- 0.0%+
970,033 TPF II Power LLC (TPF II Convert Midco LLC), Term
Loan, 5.844% (LIBOR + 375 bps), 10/2/23 $ 970,640
------------------------------------------------------------------------------------------------
Independent Power Producers &
Energy Traders -- 0.1%
1,279,531 NRG Energy, Inc., Term Loan, 4.084%
(LIBOR + 175 bps), 6/30/23 $ 1,273,854
---------------
Total Utilities $ 2,244,494
------------------------------------------------------------------------------------------------
TOTAL SENIOR SECURED FLOATING RATE
LOAN INTERESTS
(Cost $151,402,937) $ 151,380,746
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- 28.8% of Net Assets
1,257,230 Fannie Mae, 2.5%, 7/1/30 $ 1,226,002
1,282,963 Fannie Mae, 2.5%, 7/1/30 1,252,687
2,166,443 Fannie Mae, 2.5%, 7/1/30 2,115,342
254,436 Fannie Mae, 2.5%, 12/1/42 239,504
263,622 Fannie Mae, 2.5%, 12/1/42 247,029
233,368 Fannie Mae, 2.5%, 1/1/43 219,614
94,295 Fannie Mae, 2.5%, 2/1/43 88,738
116,146 Fannie Mae, 2.5%, 2/1/43 108,873
2,551,913 Fannie Mae, 2.5%, 2/1/43 2,401,791
349,591 Fannie Mae, 2.5%, 3/1/43 328,988
123,403 Fannie Mae, 2.5%, 4/1/43 116,130
330,759 Fannie Mae, 2.5%, 8/1/43 311,266
233,867 Fannie Mae, 2.5%, 12/1/43 220,084
167,151 Fannie Mae, 2.5%, 3/1/44 157,300
224,493 Fannie Mae, 2.5%, 4/1/45 210,352
The accompanying notes are an integral part of these financial statements.
62 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
313,300 Fannie Mae, 2.5%, 4/1/45 $ 293,564
461,530 Fannie Mae, 2.5%, 4/1/45 432,458
489,726 Fannie Mae, 2.5%, 4/1/45 458,875
536,213 Fannie Mae, 2.5%, 4/1/45 502,434
558,869 Fannie Mae, 2.5%, 4/1/45 524,045
1,271,412 Fannie Mae, 2.5%, 4/1/45 1,191,327
1,518,818 Fannie Mae, 2.5%, 4/1/45 1,423,150
72,491 Fannie Mae, 2.5%, 5/1/45 67,925
81,021 Fannie Mae, 2.5%, 7/1/45 75,918
257,035 Fannie Mae, 2.5%, 8/1/45 240,846
88,649 Fannie Mae, 2.5%, 1/1/46 83,074
288,341 Fannie Mae, 3.0%, 12/1/21 289,682
3,413,240 Fannie Mae, 3.0%, 9/1/28 3,412,704
3,031,719 Fannie Mae, 3.0%, 10/1/30 3,024,721
1,284,807 Fannie Mae, 3.0%, 4/1/31 1,277,891
16,482,571 Fannie Mae, 3.0%, 8/1/42 16,123,079
3,852,502 Fannie Mae, 3.0%, 9/1/42 3,766,484
1,249,917 Fannie Mae, 3.0%, 12/1/42 1,221,135
2,462,972 Fannie Mae, 3.0%, 2/1/43 2,406,547
655,327 Fannie Mae, 3.0%, 5/1/43 640,318
8,995,770 Fannie Mae, 3.0%, 5/1/43 8,787,875
623,792 Fannie Mae, 3.0%, 7/1/43 609,405
1,537,088 Fannie Mae, 3.0%, 8/1/43 1,501,717
4,336,880 Fannie Mae, 3.0%, 9/1/43 4,236,922
800,206 Fannie Mae, 3.0%, 3/1/45 778,707
6,782,981 Fannie Mae, 3.0%, 6/1/45 6,629,663
656,999 Fannie Mae, 3.0%, 5/1/46 640,467
870,660 Fannie Mae, 3.0%, 5/1/46 846,161
4,766,894 Fannie Mae, 3.0%, 9/1/46 4,624,775
8,941,681 Fannie Mae, 3.0%, 10/1/46 8,675,098
8,845,167 Fannie Mae, 3.0%, 11/1/46 8,581,453
7,685,197 Fannie Mae, 3.0%, 1/1/47 7,490,674
2,637,951 Fannie Mae, 3.0%, 3/1/47 2,559,260
655,436 Fannie Mae, 3.5%, 4/1/26 663,696
406,471 Fannie Mae, 3.5%, 9/1/26 411,692
955,399 Fannie Mae, 3.5%, 12/1/26 967,439
2,603,785 Fannie Mae, 3.5%, 6/1/28 2,645,564
1,064,230 Fannie Mae, 3.5%, 11/1/40 1,068,013
546,535 Fannie Mae, 3.5%, 10/1/41 548,479
476,720 Fannie Mae, 3.5%, 6/1/42 478,402
2,838,357 Fannie Mae, 3.5%, 7/1/42 2,847,427
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 63
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,027,771 Fannie Mae, 3.5%, 8/1/42 $ 3,035,258
233,429 Fannie Mae, 3.5%, 11/1/42 233,753
514,194 Fannie Mae, 3.5%, 12/1/42 516,022
578,008 Fannie Mae, 3.5%, 12/1/42 580,063
5,177,346 Fannie Mae, 3.5%, 2/1/44 5,184,529
2,655,854 Fannie Mae, 3.5%, 9/1/44 2,656,112
5,610,063 Fannie Mae, 3.5%, 2/1/45 5,617,852
1,653,631 Fannie Mae, 3.5%, 4/1/45 1,653,074
6,439,042 Fannie Mae, 3.5%, 6/1/45 6,428,034
2,477,261 Fannie Mae, 3.5%, 8/1/45 2,473,028
7,950,901 Fannie Mae, 3.5%, 8/1/45 7,988,729
6,106,309 Fannie Mae, 3.5%, 9/1/45 6,080,602
7,168,343 Fannie Mae, 3.5%, 9/1/45 7,156,088
1,513,703 Fannie Mae, 3.5%, 10/1/45 1,511,116
12,057,773 Fannie Mae, 3.5%, 11/1/45 12,112,061
2,421,741 Fannie Mae, 3.5%, 12/1/45 2,417,601
2,601,917 Fannie Mae, 3.5%, 12/1/45 2,597,469
4,742,650 Fannie Mae, 3.5%, 12/1/45 4,734,542
5,426,542 Fannie Mae, 3.5%, 1/1/46 5,417,271
7,125,076 Fannie Mae, 3.5%, 1/1/46 7,112,895
2,985,347 Fannie Mae, 3.5%, 2/1/46 2,980,244
4,940,406 Fannie Mae, 3.5%, 2/1/46 4,931,960
2,004,148 Fannie Mae, 3.5%, 3/1/46 2,000,722
4,020,830 Fannie Mae, 3.5%, 4/1/46 4,013,957
2,555,467 Fannie Mae, 3.5%, 5/1/46 2,553,474
6,107,387 Fannie Mae, 3.5%, 7/1/46 6,096,948
8,799,634 Fannie Mae, 3.5%, 9/1/46 8,785,953
538,606 Fannie Mae, 3.5%, 10/1/46 537,685
1,033,573 Fannie Mae, 3.5%, 10/1/46 1,031,727
1,136,969 Fannie Mae, 3.5%, 11/1/46 1,134,762
4,599,956 Fannie Mae, 3.5%, 12/1/46 4,591,736
2,526,589 Fannie Mae, 3.5%, 1/1/47 2,521,878
4,701,594 Fannie Mae, 3.5%, 1/1/47 4,692,466
6,695,705 Fannie Mae, 3.5%, 1/1/47 6,690,484
10,968,267 Fannie Mae, 3.5%, 1/1/47 10,947,815
5,900,377 Fannie Mae, 3.5%, 2/1/47 5,889,375
7,371,466 Fannie Mae, 3.5%, 5/1/47 7,355,435
8,121,145 Fannie Mae, 3.5%, 5/1/47 8,102,229
339,119 Fannie Mae, 3.5%, 7/1/47 338,250
2,723,566 Fannie Mae, 3.5%, 7/1/47 2,716,799
8,310,484 Fannie Mae, 3.5%, 7/1/47 8,291,768
11,534,316 Fannie Mae, 3.5%, 7/1/47 11,509,233
1,421,435 Fannie Mae, 3.5%, 8/1/47 1,418,013
The accompanying notes are an integral part of these financial statements.
64 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
18,589,336 Fannie Mae, 3.5%, 8/1/47 $ 18,541,707
3,105,405 Fannie Mae, 3.5%, 11/1/47 3,097,690
7,394,460 Fannie Mae, 3.5%, 12/1/47 7,373,079
12,334,803 Fannie Mae, 3.5%, 12/1/47 12,297,583
4,190,381 Fannie Mae, 3.5%, 1/1/48 4,176,679
3,155,985 Fannie Mae, 3.5%, 2/1/48 3,146,460
1,000,952 Fannie Mae, 3.762%, 12/1/20 1,018,479
9 Fannie Mae, 4.0%, 7/1/18 9
20,701 Fannie Mae, 4.0%, 9/1/20 21,246
265,693 Fannie Mae, 4.0%, 4/1/25 272,816
253,659 Fannie Mae, 4.0%, 11/1/34 262,461
2,506,044 Fannie Mae, 4.0%, 4/1/39 2,573,373
6,423,097 Fannie Mae, 4.0%, 10/1/40 6,636,436
1,172,789 Fannie Mae, 4.0%, 12/1/40 1,210,244
707,090 Fannie Mae, 4.0%, 4/1/41 727,151
1,108,385 Fannie Mae, 4.0%, 4/1/41 1,138,391
867,723 Fannie Mae, 4.0%, 5/1/41 891,226
1,453,612 Fannie Mae, 4.0%, 10/1/41 1,495,432
1,020,056 Fannie Mae, 4.0%, 12/1/41 1,047,685
373,044 Fannie Mae, 4.0%, 1/1/42 383,134
2,712,090 Fannie Mae, 4.0%, 1/1/42 2,785,531
2,259,814 Fannie Mae, 4.0%, 2/1/42 2,322,385
6,005,342 Fannie Mae, 4.0%, 2/1/42 6,167,941
1,102,832 Fannie Mae, 4.0%, 3/1/42 1,132,692
139,818 Fannie Mae, 4.0%, 4/1/42 142,928
596,581 Fannie Mae, 4.0%, 4/1/42 612,734
2,529,713 Fannie Mae, 4.0%, 4/1/42 2,598,211
4,771,764 Fannie Mae, 4.0%, 5/1/42 4,900,977
132,251 Fannie Mae, 4.0%, 6/1/42 135,832
328,777 Fannie Mae, 4.0%, 6/1/42 336,088
160,188 Fannie Mae, 4.0%, 7/1/42 164,526
3,400,459 Fannie Mae, 4.0%, 7/1/42 3,497,008
7,343,907 Fannie Mae, 4.0%, 8/1/42 7,542,695
1,408,373 Fannie Mae, 4.0%, 10/1/42 1,446,507
4,406,616 Fannie Mae, 4.0%, 8/1/43 4,513,713
5,354,784 Fannie Mae, 4.0%, 9/1/43 5,490,226
10,126,970 Fannie Mae, 4.0%, 10/1/43 10,393,939
3,304,637 Fannie Mae, 4.0%, 11/1/43 3,401,014
4,033,382 Fannie Mae, 4.0%, 12/1/43 4,147,969
114,742 Fannie Mae, 4.0%, 1/1/44 117,405
5,142,184 Fannie Mae, 4.0%, 2/1/44 5,261,110
78,710 Fannie Mae, 4.0%, 6/1/44 80,451
103,458 Fannie Mae, 4.0%, 6/1/44 105,754
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 65
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
289,122 Fannie Mae, 4.0%, 7/1/44 $ 295,470
4,973,780 Fannie Mae, 4.0%, 7/1/44 5,083,443
214,621 Fannie Mae, 4.0%, 8/1/44 219,275
229,183 Fannie Mae, 4.0%, 8/1/44 234,218
1,238,571 Fannie Mae, 4.0%, 8/1/44 1,265,507
3,781,948 Fannie Mae, 4.0%, 8/1/44 3,866,167
39,036 Fannie Mae, 4.0%, 9/1/44 39,891
300,864 Fannie Mae, 4.0%, 9/1/44 307,164
396,888 Fannie Mae, 4.0%, 9/1/44 405,577
6,850,936 Fannie Mae, 4.0%, 9/1/44 7,031,759
1,624,462 Fannie Mae, 4.0%, 10/1/44 1,660,276
93,044 Fannie Mae, 4.0%, 11/1/44 95,067
106,785 Fannie Mae, 4.0%, 11/1/44 108,981
192,137 Fannie Mae, 4.0%, 11/1/44 196,084
4,957,180 Fannie Mae, 4.0%, 11/1/44 5,064,563
40,220 Fannie Mae, 4.0%, 12/1/44 41,091
475,704 Fannie Mae, 4.0%, 12/1/44 486,045
79,346 Fannie Mae, 4.0%, 1/1/45 81,058
186,787 Fannie Mae, 4.0%, 1/1/45 190,833
318,579 Fannie Mae, 4.0%, 1/1/45 325,426
47,113 Fannie Mae, 4.0%, 2/1/45 48,112
177,568 Fannie Mae, 4.0%, 2/1/45 181,657
378,960 Fannie Mae, 4.0%, 2/1/45 387,550
4,154,363 Fannie Mae, 4.0%, 3/1/45 4,242,170
3,028,676 Fannie Mae, 4.0%, 8/1/45 3,108,624
2,782,580 Fannie Mae, 4.0%, 10/1/45 2,841,000
4,220,819 Fannie Mae, 4.0%, 10/1/45 4,306,487
4,905,436 Fannie Mae, 4.0%, 10/1/45 5,005,659
78,008 Fannie Mae, 4.0%, 11/1/45 79,573
3,398,666 Fannie Mae, 4.0%, 11/1/45 3,467,295
8,177,757 Fannie Mae, 4.0%, 11/1/45 8,399,985
5,642,219 Fannie Mae, 4.0%, 12/1/45 5,757,184
2,232,331 Fannie Mae, 4.0%, 1/1/46 2,277,397
6,166,881 Fannie Mae, 4.0%, 2/1/46 6,300,544
1,566,214 Fannie Mae, 4.0%, 4/1/46 1,598,862
5,458,090 Fannie Mae, 4.0%, 6/1/46 5,568,312
5,708,002 Fannie Mae, 4.0%, 7/1/46 5,823,343
7,851,402 Fannie Mae, 4.0%, 7/1/46 8,009,692
4,526,819 Fannie Mae, 4.0%, 8/1/46 4,618,307
5,581,678 Fannie Mae, 4.0%, 8/1/46 5,694,506
1,500,320 Fannie Mae, 4.0%, 11/1/46 1,531,649
13,023,864 Fannie Mae, 4.0%, 1/1/47 13,305,000
559,623 Fannie Mae, 4.0%, 2/1/47 573,415
The accompanying notes are an integral part of these financial statements.
66 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,195,002 Fannie Mae, 4.0%, 4/1/47 $ 3,260,955
3,266,166 Fannie Mae, 4.0%, 4/1/47 3,341,961
4,906,361 Fannie Mae, 4.0%, 4/1/47 5,020,261
576,317 Fannie Mae, 4.0%, 6/1/47 589,725
1,991,795 Fannie Mae, 4.0%, 6/1/47 2,038,131
3,326,177 Fannie Mae, 4.0%, 6/1/47 3,394,839
4,991,988 Fannie Mae, 4.0%, 6/1/47 5,095,038
8,747,329 Fannie Mae, 4.0%, 6/1/47 8,928,803
2,845,723 Fannie Mae, 4.0%, 7/1/47 2,911,967
3,125,640 Fannie Mae, 4.0%, 7/1/47 3,190,485
2,670,330 Fannie Mae, 4.0%, 8/1/47 2,725,729
5,221,022 Fannie Mae, 4.0%, 8/1/47 5,329,879
6,679,905 Fannie Mae, 4.0%, 12/1/47 6,819,534
8,996,409 Fannie Mae, 4.0%, 4/1/48 9,184,438
7,637 Fannie Mae, 4.5%, 11/1/20 7,692
113,017 Fannie Mae, 4.5%, 11/1/20 114,459
200,070 Fannie Mae, 4.5%, 10/1/35 209,324
435,218 Fannie Mae, 4.5%, 8/1/40 457,897
844,085 Fannie Mae, 4.5%, 8/1/40 888,110
1,604,283 Fannie Mae, 4.5%, 11/1/40 1,687,924
156,722 Fannie Mae, 4.5%, 12/1/40 164,867
582,996 Fannie Mae, 4.5%, 2/1/41 613,395
1,423,485 Fannie Mae, 4.5%, 4/1/41 1,497,463
73,758 Fannie Mae, 4.5%, 5/1/41 77,582
1,919,615 Fannie Mae, 4.5%, 5/1/41 2,018,836
2,617,215 Fannie Mae, 4.5%, 5/1/41 2,752,879
3,343,558 Fannie Mae, 4.5%, 5/1/41 3,517,937
971,906 Fannie Mae, 4.5%, 7/1/41 1,022,594
1,059,776 Fannie Mae, 4.5%, 7/1/41 1,114,600
1,351,333 Fannie Mae, 4.5%, 7/1/41 1,417,360
3,655,959 Fannie Mae, 4.5%, 1/1/42 3,846,586
4,804,653 Fannie Mae, 4.5%, 1/1/42 5,055,170
505,164 Fannie Mae, 4.5%, 11/1/43 528,073
3,216,184 Fannie Mae, 4.5%, 12/1/43 3,380,233
4,496,101 Fannie Mae, 4.5%, 12/1/43 4,708,157
6,898,797 Fannie Mae, 4.5%, 12/1/43 7,223,740
4,720,608 Fannie Mae, 4.5%, 1/1/44 4,942,708
2,762,344 Fannie Mae, 4.5%, 2/1/44 2,891,193
3,266,345 Fannie Mae, 4.5%, 2/1/44 3,419,780
5,573,258 Fannie Mae, 4.5%, 5/1/46 5,807,614
703,386 Fannie Mae, 4.5%, 1/1/47 733,741
562,367 Fannie Mae, 4.5%, 2/1/47 586,121
3,834,857 Fannie Mae, 4.5%, 2/1/47 4,011,869
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 67
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
311 Fannie Mae, 5.0%, 8/1/18 $ 316
20,537 Fannie Mae, 5.0%, 1/1/20 20,886
41,815 Fannie Mae, 5.0%, 1/1/20 42,526
6,537 Fannie Mae, 5.0%, 2/1/20 6,649
87,301 Fannie Mae, 5.0%, 10/1/20 88,843
5,637 Fannie Mae, 5.0%, 2/1/22 5,760
84,314 Fannie Mae, 5.0%, 2/1/22 87,564
55,112 Fannie Mae, 5.0%, 3/1/23 56,987
209,337 Fannie Mae, 5.0%, 5/1/23 217,707
147,701 Fannie Mae, 5.0%, 7/1/34 153,579
152,915 Fannie Mae, 5.0%, 10/1/34 160,539
669,046 Fannie Mae, 5.0%, 2/1/39 716,468
511,205 Fannie Mae, 5.0%, 6/1/40 548,136
569,166 Fannie Mae, 5.0%, 6/1/40 610,121
393,954 Fannie Mae, 5.0%, 7/1/40 422,582
544,032 Fannie Mae, 5.0%, 7/1/40 580,035
860,114 Fannie Mae, 5.0%, 7/1/40 922,670
684,707 Fannie Mae, 5.0%, 8/1/40 734,513
2,462,108 Fannie Mae, 5.0%, 2/1/41 2,641,032
9,580,249 Fannie Mae, 5.0%, 12/1/44 10,289,962
48,581 Fannie Mae, 5.5%, 9/1/19 48,879
15,735 Fannie Mae, 5.5%, 6/1/33 17,052
72,857 Fannie Mae, 5.5%, 7/1/33 78,986
478,044 Fannie Mae, 5.5%, 7/1/34 519,934
245,960 Fannie Mae, 5.5%, 3/1/36 266,517
135,080 Fannie Mae, 5.5%, 5/1/36 146,196
141,653 Fannie Mae, 5.5%, 6/1/36 153,545
48,782 Fannie Mae, 5.72%, 11/1/28 49,413
28,796 Fannie Mae, 5.72%, 6/1/29 28,975
22,774 Fannie Mae, 5.9%, 11/1/27 22,833
73,822 Fannie Mae, 5.9%, 4/1/28 75,310
747 Fannie Mae, 6.0%, 9/1/29 823
3,348 Fannie Mae, 6.0%, 1/1/32 3,690
13,928 Fannie Mae, 6.0%, 2/1/32 15,355
4,533 Fannie Mae, 6.0%, 3/1/32 4,998
3,004 Fannie Mae, 6.0%, 8/1/32 3,312
344 Fannie Mae, 6.0%, 9/1/32 378
40,950 Fannie Mae, 6.0%, 10/1/32 45,151
6,114 Fannie Mae, 6.0%, 2/1/33 6,682
59,321 Fannie Mae, 6.0%, 3/1/33 65,406
60,724 Fannie Mae, 6.0%, 4/1/33 66,365
111,554 Fannie Mae, 6.0%, 7/1/33 121,917
133,071 Fannie Mae, 6.0%, 7/1/33 145,433
The accompanying notes are an integral part of these financial statements.
68 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
25,030 Fannie Mae, 6.0%, 11/1/33 $ 27,579
100,932 Fannie Mae, 6.0%, 8/1/34 111,244
5,082 Fannie Mae, 6.0%, 9/1/34 5,598
21,531 Fannie Mae, 6.0%, 9/1/34 23,702
39,485 Fannie Mae, 6.0%, 9/1/34 43,497
88,757 Fannie Mae, 6.0%, 9/1/34 97,008
9,758 Fannie Mae, 6.0%, 10/1/34 10,746
8,802 Fannie Mae, 6.0%, 11/1/34 9,702
119,967 Fannie Mae, 6.0%, 11/1/34 131,111
3,299 Fannie Mae, 6.0%, 2/1/35 3,638
7,882 Fannie Mae, 6.0%, 2/1/35 8,688
141,950 Fannie Mae, 6.0%, 4/1/35 156,435
19,389 Fannie Mae, 6.0%, 5/1/35 21,190
83,497 Fannie Mae, 6.0%, 10/1/35 91,290
154,414 Fannie Mae, 6.0%, 12/1/35 169,396
19,215 Fannie Mae, 6.0%, 12/1/37 21,119
223,946 Fannie Mae, 6.0%, 6/1/38 246,154
29,853 Fannie Mae, 6.0%, 7/1/38 32,627
6,389 Fannie Mae, 6.5%, 7/1/29 7,043
1,778 Fannie Mae, 6.5%, 1/1/31 1,960
1,841 Fannie Mae, 6.5%, 4/1/31 2,030
3,676 Fannie Mae, 6.5%, 5/1/31 4,052
65,403 Fannie Mae, 6.5%, 6/1/31 72,094
8,249 Fannie Mae, 6.5%, 8/1/31 9,093
3,155 Fannie Mae, 6.5%, 9/1/31 3,478
5,574 Fannie Mae, 6.5%, 9/1/31 6,145
2,595 Fannie Mae, 6.5%, 10/1/31 2,861
119,606 Fannie Mae, 6.5%, 12/1/31 131,843
4,443 Fannie Mae, 6.5%, 2/1/32 4,897
53,041 Fannie Mae, 6.5%, 3/1/32 58,467
86,716 Fannie Mae, 6.5%, 7/1/32 95,588
67,222 Fannie Mae, 6.5%, 10/1/32 74,099
27,740 Fannie Mae, 6.5%, 7/1/34 30,578
91,603 Fannie Mae, 6.5%, 11/1/37 101,084
23,126 Fannie Mae, 6.5%, 11/1/47 24,744
626 Fannie Mae, 7.0%, 12/1/30 647
6,425 Fannie Mae, 7.0%, 12/1/30 7,034
6,476 Fannie Mae, 7.0%, 4/1/31 7,377
7,879 Fannie Mae, 7.0%, 9/1/31 8,787
23,093 Fannie Mae, 7.0%, 12/1/31 24,082
14,341 Fannie Mae, 7.0%, 1/1/32 16,116
12,445,000(k) Federal Home Loan Bank Discount Notes, 8/2/18 12,424,428
2,687,366 Federal Home Loan Mortgage Corp., 3.0%, 8/1/29 2,682,145
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 69
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
2,579,114 Federal Home Loan Mortgage Corp., 3.0%, 10/1/29 $ 2,574,101
936,203 Federal Home Loan Mortgage Corp., 3.0%, 9/1/42 914,747
6,433,394 Federal Home Loan Mortgage Corp., 3.0%, 11/1/42 6,288,377
761,586 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 743,352
1,886,843 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 1,842,721
2,189,883 Federal Home Loan Mortgage Corp., 3.0%, 5/1/43 2,137,452
1,585,491 Federal Home Loan Mortgage Corp., 3.0%, 5/1/45 1,543,741
1,253,699 Federal Home Loan Mortgage Corp., 3.0%, 8/1/45 1,217,524
4,962,966 Federal Home Loan Mortgage Corp., 3.0%, 6/1/46 4,821,688
4,007,496 Federal Home Loan Mortgage Corp., 3.0%, 9/1/46 3,885,330
1,310,533 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 1,273,226
2,111,399 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 2,046,509
5,796,994 Federal Home Loan Mortgage Corp., 3.0%, 2/1/47 5,619,278
819,964 Federal Home Loan Mortgage Corp., 3.0%, 3/1/47 794,508
363,428 Federal Home Loan Mortgage Corp., 3.0%, 7/1/47 352,032
235,479 Federal Home Loan Mortgage Corp., 3.5%, 3/1/26 238,288
1,530,840 Federal Home Loan Mortgage Corp., 3.5%, 4/1/42 1,535,440
2,647,487 Federal Home Loan Mortgage Corp., 3.5%, 8/1/43 2,655,485
6,533,574 Federal Home Loan Mortgage Corp., 3.5%, 7/1/44 6,544,549
754,689 Federal Home Loan Mortgage Corp., 3.5%, 8/1/44 755,957
563,841 Federal Home Loan Mortgage Corp., 3.5%, 9/1/44 564,977
2,295,295 Federal Home Loan Mortgage Corp., 3.5%, 10/1/44 2,296,840
110,011 Federal Home Loan Mortgage Corp., 3.5%, 11/1/44 109,937
6,052,401 Federal Home Loan Mortgage Corp., 3.5%, 12/1/44 6,050,384
2,953,670 Federal Home Loan Mortgage Corp., 3.5%, 3/1/45 2,950,703
731,208 Federal Home Loan Mortgage Corp., 3.5%, 4/1/45 730,474
7,312,587 Federal Home Loan Mortgage Corp., 3.5%, 6/1/45 7,315,437
202,361 Federal Home Loan Mortgage Corp., 3.5%, 7/1/45 202,534
6,341,491 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 6,343,962
7,111,165 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 7,104,023
7,435,300 Federal Home Loan Mortgage Corp., 3.5%, 11/1/45 7,427,832
3,837,104 Federal Home Loan Mortgage Corp., 3.5%, 3/1/46 3,832,458
6,305,334 Federal Home Loan Mortgage Corp., 3.5%, 5/1/46 6,291,190
6,439,183 Federal Home Loan Mortgage Corp., 3.5%, 7/1/46 6,450,670
9,180,236 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 9,194,362
9,630,069 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 9,609,954
11,347,342 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 11,381,641
3,759,022 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 3,745,590
11,014,528 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 11,000,052
2,221,964 Federal Home Loan Mortgage Corp., 3.5%, 1/1/47 2,213,821
713,649 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 712,158
1,937,734 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 1,929,581
4,043,719 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 4,026,705
The accompanying notes are an integral part of these financial statements.
70 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
9,290,280 Federal Home Loan Mortgage Corp., 3.5%, 7/1/47 $ 9,250,351
8,584,475 Federal Home Loan Mortgage Corp., 3.5%, 8/1/47 8,546,803
10,371,913 Federal Home Loan Mortgage Corp., 3.5%, 10/1/47 10,324,320
3,569,417 Federal Home Loan Mortgage Corp., 3.5%, 11/1/47 3,553,004
4,981,083 Federal Home Loan Mortgage Corp., 3.5%, 11/1/47 4,959,224
3,334,169 Federal Home Loan Mortgage Corp., 3.5%, 1/1/48 3,318,737
6,896,506 Federal Home Loan Mortgage Corp., 3.5%, 1/1/48 6,864,720
9,097,462 Federal Home Loan Mortgage Corp., 4.0%, 11/1/41 9,397,879
297,542 Federal Home Loan Mortgage Corp., 4.0%, 6/1/42 305,579
114,991 Federal Home Loan Mortgage Corp., 4.0%, 7/1/42 118,222
4,279,355 Federal Home Loan Mortgage Corp., 4.0%, 10/1/42 4,396,471
78,293 Federal Home Loan Mortgage Corp., 4.0%, 11/1/42 80,492
1,561,169 Federal Home Loan Mortgage Corp., 4.0%, 1/1/44 1,598,942
485,833 Federal Home Loan Mortgage Corp., 4.0%, 2/1/44 498,549
4,509,560 Federal Home Loan Mortgage Corp., 4.0%, 5/1/44 4,614,962
4,169,837 Federal Home Loan Mortgage Corp., 4.0%, 6/1/44 4,267,624
947,991 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 972,802
1,369,827 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,405,678
1,779,161 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,825,727
6,058,208 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 6,200,278
2,414,118 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 2,470,717
6,212,977 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 6,375,596
1,542,896 Federal Home Loan Mortgage Corp., 4.0%, 12/1/44 1,578,923
1,214,913 Federal Home Loan Mortgage Corp., 4.0%, 4/1/45 1,243,378
4,648,246 Federal Home Loan Mortgage Corp., 4.0%, 12/1/45 4,756,827
1,626,640 Federal Home Loan Mortgage Corp., 4.0%, 1/1/46 1,664,680
228,330 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 232,863
545,880 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 558,652
3,992,104 Federal Home Loan Mortgage Corp., 4.0%, 6/1/46 4,085,455
5,114,282 Federal Home Loan Mortgage Corp., 4.0%, 7/1/46 5,233,830
4,657,957 Federal Home Loan Mortgage Corp., 4.0%, 8/1/46 4,762,969
118,790 Federal Home Loan Mortgage Corp., 4.0%, 10/1/46 121,148
1,180,357 Federal Home Loan Mortgage Corp., 4.0%, 3/1/47 1,206,766
2,241,852 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 2,293,381
3,324,595 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 3,401,009
6,796,435 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 6,946,676
7,299,576 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 7,467,351
10,430,395 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 10,661,019
12,345,209 Federal Home Loan Mortgage Corp., 4.0%, 5/1/47 12,611,476
1,436,255 Federal Home Loan Mortgage Corp., 4.0%, 6/1/47 1,466,456
3,209,382 Federal Home Loan Mortgage Corp., 4.0%, 7/1/47 3,276,868
7,241,603 Federal Home Loan Mortgage Corp., 4.0%, 10/1/47 7,388,555
36,935 Federal Home Loan Mortgage Corp., 4.5%, 3/1/20 37,223
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 71
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
97,747 Federal Home Loan Mortgage Corp., 4.5%, 10/1/20 $ 99,147
2,498,411 Federal Home Loan Mortgage Corp., 4.5%, 11/1/40 2,627,664
1,559,931 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 1,640,536
3,697,861 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 3,889,130
147,523 Federal Home Loan Mortgage Corp., 4.5%, 11/1/43 153,773
6,571,929 Federal Home Loan Mortgage Corp., 4.5%, 5/1/47 6,842,904
215,440 Federal Home Loan Mortgage Corp., 5.0%, 10/1/20 216,858
8,510 Federal Home Loan Mortgage Corp., 5.0%, 12/1/21 8,661
9,793 Federal Home Loan Mortgage Corp., 5.0%, 11/1/34 10,447
156,342 Federal Home Loan Mortgage Corp., 5.0%, 6/1/35 165,063
271,406 Federal Home Loan Mortgage Corp., 5.0%, 9/1/38 289,505
262,636 Federal Home Loan Mortgage Corp., 5.0%, 10/1/38 280,136
10,333 Federal Home Loan Mortgage Corp., 5.5%, 12/1/18 10,344
167,692 Federal Home Loan Mortgage Corp., 5.5%, 9/1/33 181,914
9,246 Federal Home Loan Mortgage Corp., 5.5%, 1/1/34 10,022
9,790 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 10,466
84,035 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 91,196
91,273 Federal Home Loan Mortgage Corp., 5.5%, 8/1/35 98,735
18,765 Federal Home Loan Mortgage Corp., 5.5%, 11/1/35 20,340
898,754 Federal Home Loan Mortgage Corp., 5.5%, 6/1/41 973,375
1 Federal Home Loan Mortgage Corp., 6.0%, 8/1/18 1
44,381 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 48,481
77,223 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 84,795
3,474 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 3,819
39,429 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 43,485
23,445 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 25,612
122,753 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 135,325
86,549 Federal Home Loan Mortgage Corp., 6.0%, 9/1/33 95,489
13,190 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 14,504
31,255 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 34,258
8,579 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 9,382
115,413 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 126,132
24,110 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 26,591
34,301 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 37,492
132,929 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 145,638
359,257 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 396,369
90,539 Federal Home Loan Mortgage Corp., 6.0%, 8/1/34 99,709
15,237 Federal Home Loan Mortgage Corp., 6.0%, 4/1/35 16,651
45,830 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 50,074
104,583 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 114,349
50,643 Federal Home Loan Mortgage Corp., 6.0%, 4/1/36 55,336
8,671 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 9,527
32,717 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 35,745
The accompanying notes are an integral part of these financial statements.
72 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
28,222 Federal Home Loan Mortgage Corp., 6.0%, 12/1/36 $ 31,019
54,802 Federal Home Loan Mortgage Corp., 6.0%, 1/1/38 60,221
55,348 Federal Home Loan Mortgage Corp., 6.0%, 7/1/38 60,761
308 Federal Home Loan Mortgage Corp., 6.5%, 11/1/30 343
150 Federal Home Loan Mortgage Corp., 6.5%, 1/1/31 166
333 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 371
4,512 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 5,023
4,933 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 5,492
5,747 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 6,397
553 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 616
3,791 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 4,220
151 Federal Home Loan Mortgage Corp., 6.5%, 6/1/32 168
8,940 Federal Home Loan Mortgage Corp., 6.5%, 7/1/32 9,952
161 Federal Home Loan Mortgage Corp., 6.5%, 1/1/33 179
27,745 Federal Home Loan Mortgage Corp., 6.5%, 10/1/33 31,423
9,403 Federal Home Loan Mortgage Corp., 7.0%, 8/1/22 9,419
65,563 Federal Home Loan Mortgage Corp., 7.0%, 9/1/22 67,836
2,249 Federal Home Loan Mortgage Corp., 7.0%, 11/1/30 2,519
2,183 Federal Home Loan Mortgage Corp., 7.0%, 6/1/31 2,187
73,437 Federal Home Loan Mortgage Corp., 7.0%, 10/1/46 78,765
7,973,730 Government National Mortgage Association I,
3.5%, 11/15/41 8,038,091
6,204,215 Government National Mortgage Association I,
3.5%, 7/15/42 6,275,085
1,452,469 Government National Mortgage Association I,
3.5%, 10/15/42 1,467,081
796,488 Government National Mortgage Association I,
3.5%, 1/15/44 799,955
9,729,841 Government National Mortgage Association I,
3.5%, 1/15/45 9,760,782
2,647,724 Government National Mortgage Association I,
3.5%, 8/15/46 2,656,868
7,550 Government National Mortgage Association I,
4.0%, 5/15/39 7,740
3,499 Government National Mortgage Association I,
4.0%, 6/15/39 3,587
5,577 Government National Mortgage Association I,
4.0%, 8/15/40 5,730
222,939 Government National Mortgage Association I,
4.0%, 8/15/40 228,582
5,824 Government National Mortgage Association I,
4.0%, 9/15/40 6,000
95,435 Government National Mortgage Association I,
4.0%, 9/15/40 97,847
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 73
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
5,825 Government National Mortgage Association I,
4.0%, 10/15/40 $ 6,000
11,464 Government National Mortgage Association I,
4.0%, 11/15/40 11,754
34,331 Government National Mortgage Association I,
4.0%, 11/15/40 35,283
19,308 Government National Mortgage Association I,
4.0%, 1/15/41 19,884
60,811 Government National Mortgage Association I,
4.0%, 1/15/41 62,630
8,420 Government National Mortgage Association I,
4.0%, 2/15/41 8,671
48,404 Government National Mortgage Association I,
4.0%, 6/15/41 49,834
128,186 Government National Mortgage Association I,
4.0%, 7/15/41 132,013
2,532 Government National Mortgage Association I,
4.0%, 9/15/41 2,596
353,309 Government National Mortgage Association I,
4.0%, 9/15/41 363,840
5,436 Government National Mortgage Association I,
4.0%, 10/15/41 5,573
6,287 Government National Mortgage Association I,
4.0%, 10/15/41 6,459
3,342 Government National Mortgage Association I,
4.0%, 11/15/41 3,427
3,582 Government National Mortgage Association I,
4.0%, 11/15/41 3,673
5,712 Government National Mortgage Association I,
4.0%, 12/15/41 5,883
21,925 Government National Mortgage Association I,
4.0%, 2/15/42 22,521
210,561 Government National Mortgage Association I,
4.0%, 2/15/42 215,884
1,123,363 Government National Mortgage Association I,
4.0%, 8/15/43 1,157,097
19,014 Government National Mortgage Association I,
4.0%, 11/15/43 19,498
11,754 Government National Mortgage Association I,
4.0%, 3/15/44 12,051
230,690 Government National Mortgage Association I,
4.0%, 3/15/44 236,521
726,904 Government National Mortgage Association I,
4.0%, 3/15/44 745,277
3,657,900 Government National Mortgage Association I,
4.0%, 3/15/44 3,750,358
3,534 Government National Mortgage Association I,
4.0%, 4/15/44 3,623
The accompanying notes are an integral part of these financial statements.
74 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
25,873 Government National Mortgage Association I,
4.0%, 4/15/44 $ 26,527
2,521,647 Government National Mortgage Association I,
4.0%, 4/15/44 2,585,385
350,776 Government National Mortgage Association I,
4.0%, 8/15/44 359,642
57,309 Government National Mortgage Association I,
4.0%, 9/15/44 58,783
222,973 Government National Mortgage Association I,
4.0%, 9/15/44 228,609
283,530 Government National Mortgage Association I,
4.0%, 9/15/44 290,696
479,888 Government National Mortgage Association I,
4.0%, 9/15/44 492,017
2,354,267 Government National Mortgage Association I,
4.0%, 9/15/44 2,413,774
92,212 Government National Mortgage Association I,
4.0%, 10/15/44 94,754
415,706 Government National Mortgage Association I,
4.0%, 11/15/44 426,213
1,936,835 Government National Mortgage Association I,
4.0%, 12/15/44 1,985,791
435,638 Government National Mortgage Association I,
4.0%, 1/15/45 449,384
1,125,240 Government National Mortgage Association I,
4.0%, 1/15/45 1,153,869
1,147,965 Government National Mortgage Association I,
4.0%, 1/15/45 1,176,982
1,984,147 Government National Mortgage Association I,
4.0%, 1/15/45 2,034,463
1,032,929 Government National Mortgage Association I,
4.0%, 2/15/45 1,059,038
1,328,006 Government National Mortgage Association I,
4.0%, 2/15/45 1,361,574
130,387 Government National Mortgage Association I,
4.0%, 3/15/45 133,683
1,516,481 Government National Mortgage Association I,
4.0%, 3/15/45 1,554,925
3,096,642 Government National Mortgage Association I,
4.0%, 4/15/45 3,175,930
1,709,176 Government National Mortgage Association I,
4.0%, 5/15/45 1,753,027
4,695,183 Government National Mortgage Association I,
4.0%, 6/15/45 4,813,860
741,984 Government National Mortgage Association I,
4.0%, 7/15/45 760,999
637,213 Government National Mortgage Association I,
4.0%, 8/15/45 654,967
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 75
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
2,927 Government National Mortgage Association I,
4.5%, 6/15/19 $ 2,947
2,237 Government National Mortgage Association I,
4.5%, 8/15/19 2,261
6,207 Government National Mortgage Association I,
4.5%, 12/15/19 6,306
5,716 Government National Mortgage Association I,
4.5%, 4/15/20 5,816
179,902 Government National Mortgage Association I,
4.5%, 6/15/25 186,975
48,141 Government National Mortgage Association I,
4.5%, 7/15/33 50,347
152,514 Government National Mortgage Association I,
4.5%, 9/15/33 161,462
146,524 Government National Mortgage Association I,
4.5%, 10/15/33 152,417
161,173 Government National Mortgage Association I,
4.5%, 10/15/33 169,210
22,354 Government National Mortgage Association I,
4.5%, 2/15/34 23,260
15,515 Government National Mortgage Association I,
4.5%, 3/15/35 16,134
54,374 Government National Mortgage Association I,
4.5%, 3/15/35 56,543
20,108 Government National Mortgage Association I,
4.5%, 4/15/35 20,913
167,449 Government National Mortgage Association I,
4.5%, 4/15/35 175,712
9,817 Government National Mortgage Association I,
4.5%, 9/15/35 10,213
73,879 Government National Mortgage Association I,
4.5%, 10/15/35 77,131
47,355 Government National Mortgage Association I,
4.5%, 4/15/38 49,244
867,348 Government National Mortgage Association I,
4.5%, 12/15/39 917,261
336,934 Government National Mortgage Association I,
4.5%, 1/15/40 356,492
188,614 Government National Mortgage Association I,
4.5%, 9/15/40 198,613
846,123 Government National Mortgage Association I,
4.5%, 10/15/40 894,807
359,239 Government National Mortgage Association I,
4.5%, 4/15/41 377,256
823,685 Government National Mortgage Association I,
4.5%, 5/15/41 866,308
765,800 Government National Mortgage Association I,
4.5%, 6/15/41 805,358
The accompanying notes are an integral part of these financial statements.
76 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
279,003 Government National Mortgage Association I,
4.5%, 7/15/41 $ 293,564
762,894 Government National Mortgage Association I,
4.5%, 8/15/41 799,370
3,872 Government National Mortgage Association I,
5.0%, 10/15/18 3,902
5,144 Government National Mortgage Association I,
5.0%, 2/15/19 5,200
234 Government National Mortgage Association I,
5.0%, 7/15/19 245
14,124 Government National Mortgage Association I,
5.0%, 7/15/19 14,321
57,857 Government National Mortgage Association I,
5.0%, 7/15/33 61,505
62,332 Government National Mortgage Association I,
5.0%, 9/15/33 66,403
68,935 Government National Mortgage Association I,
5.0%, 4/15/34 73,428
367,709 Government National Mortgage Association I,
5.0%, 4/15/35 393,199
170,316 Government National Mortgage Association I,
5.0%, 7/15/40 179,199
2,117 Government National Mortgage Association I,
5.5%, 11/15/18 2,118
464 Government National Mortgage Association I,
5.5%, 12/15/18 464
327 Government National Mortgage Association I,
5.5%, 4/15/19 328
430 Government National Mortgage Association I,
5.5%, 4/15/19 430
10,453 Government National Mortgage Association I,
5.5%, 8/15/19 10,479
10,818 Government National Mortgage Association I,
5.5%, 8/15/19 10,847
25,553 Government National Mortgage Association I,
5.5%, 9/15/19 25,717
9,317 Government National Mortgage Association I,
5.5%, 10/15/19 9,391
59,756 Government National Mortgage Association I,
5.5%, 11/15/19 60,226
46,774 Government National Mortgage Association I,
5.5%, 1/15/29 50,412
11,380 Government National Mortgage Association I,
5.5%, 6/15/33 12,408
54,363 Government National Mortgage Association I,
5.5%, 7/15/33 59,323
60,098 Government National Mortgage Association I,
5.5%, 7/15/33 65,634
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 77
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
16,303 Government National Mortgage Association I,
5.5%, 8/15/33 $ 17,805
25,813 Government National Mortgage Association I,
5.5%, 8/15/33 28,191
121,284 Government National Mortgage Association I,
5.5%, 8/15/33 132,359
48,839 Government National Mortgage Association I,
5.5%, 9/15/33 52,680
58,058 Government National Mortgage Association I,
5.5%, 9/15/33 62,558
42,024 Government National Mortgage Association I,
5.5%, 10/15/33 45,315
51,158 Government National Mortgage Association I,
5.5%, 10/15/33 55,879
277,419 Government National Mortgage Association I,
5.5%, 7/15/34 303,129
26,460 Government National Mortgage Association I,
5.5%, 10/15/34 28,869
327,166 Government National Mortgage Association I,
5.5%, 11/15/34 357,314
102,518 Government National Mortgage Association I,
5.5%, 1/15/35 111,987
24,859 Government National Mortgage Association I,
5.5%, 2/15/35 27,015
37,092 Government National Mortgage Association I,
5.5%, 2/15/35 39,983
62,951 Government National Mortgage Association I,
5.5%, 6/15/35 67,869
381,411 Government National Mortgage Association I,
5.5%, 7/15/35 428,803
54,140 Government National Mortgage Association I,
5.5%, 10/15/35 59,132
130,143 Government National Mortgage Association I,
5.5%, 10/15/35 142,217
31,281 Government National Mortgage Association I,
5.5%, 2/15/37 34,100
10,602 Government National Mortgage Association I,
5.72%, 4/15/29 11,477
1,015 Government National Mortgage Association I,
6.0%, 1/15/19 1,015
7,613 Government National Mortgage Association I,
6.0%, 3/15/19 7,588
14,132 Government National Mortgage Association I,
6.0%, 9/15/19 14,178
99,691 Government National Mortgage Association I,
6.0%, 12/15/23 101,825
9,283 Government National Mortgage Association I,
6.0%, 1/15/24 10,147
The accompanying notes are an integral part of these financial statements.
78 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
31,671 Government National Mortgage Association I,
6.0%, 4/15/28 $ 34,969
157,742 Government National Mortgage Association I,
6.0%, 9/15/28 175,742
6,479 Government National Mortgage Association I,
6.0%, 10/15/28 7,083
53,942 Government National Mortgage Association I,
6.0%, 2/15/29 60,000
68,390 Government National Mortgage Association I,
6.0%, 2/15/29 75,670
53,156 Government National Mortgage Association I,
6.0%, 6/15/31 58,107
18,163 Government National Mortgage Association I,
6.0%, 11/15/31 19,983
1,098 Government National Mortgage Association I,
6.0%, 3/15/32 1,205
5,395 Government National Mortgage Association I,
6.0%, 8/15/32 5,962
55,114 Government National Mortgage Association I,
6.0%, 9/15/32 60,247
87,267 Government National Mortgage Association I,
6.0%, 9/15/32 95,396
171,362 Government National Mortgage Association I,
6.0%, 9/15/32 187,325
10,456 Government National Mortgage Association I,
6.0%, 10/15/32 11,429
28,775 Government National Mortgage Association I,
6.0%, 10/15/32 31,580
6,158 Government National Mortgage Association I,
6.0%, 11/15/32 6,732
6,666 Government National Mortgage Association I,
6.0%, 11/15/32 7,287
8,091 Government National Mortgage Association I,
6.0%, 12/15/32 8,844
9,391 Government National Mortgage Association I,
6.0%, 12/15/32 10,331
63,558 Government National Mortgage Association I,
6.0%, 12/15/32 69,478
116,865 Government National Mortgage Association I,
6.0%, 12/15/32 127,751
157,956 Government National Mortgage Association I,
6.0%, 12/15/32 172,670
187,960 Government National Mortgage Association I,
6.0%, 12/15/32 205,469
285,656 Government National Mortgage Association I,
6.0%, 12/15/32 312,743
19,032 Government National Mortgage Association I,
6.0%, 1/15/33 20,805
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 79
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
32,770 Government National Mortgage Association I,
6.0%, 1/15/33 $ 36,214
126,871 Government National Mortgage Association I,
6.0%, 1/15/33 141,910
24,243 Government National Mortgage Association I,
6.0%, 2/15/33 26,769
66,636 Government National Mortgage Association I,
6.0%, 2/15/33 72,844
71,531 Government National Mortgage Association I,
6.0%, 2/15/33 79,853
103,551 Government National Mortgage Association I,
6.0%, 2/15/33 113,431
41,067 Government National Mortgage Association I,
6.0%, 3/15/33 45,308
49,296 Government National Mortgage Association I,
6.0%, 3/15/33 53,888
82,721 Government National Mortgage Association I,
6.0%, 3/15/33 91,419
88,924 Government National Mortgage Association I,
6.0%, 3/15/33 98,219
89,384 Government National Mortgage Association I,
6.0%, 3/15/33 97,710
100,257 Government National Mortgage Association I,
6.0%, 3/15/33 110,932
190,927 Government National Mortgage Association I,
6.0%, 3/15/33 210,884
303,964 Government National Mortgage Association I,
6.0%, 3/15/33 340,882
15,162 Government National Mortgage Association I,
6.0%, 4/15/33 16,574
29,669 Government National Mortgage Association I,
6.0%, 4/15/33 32,433
35,072 Government National Mortgage Association I,
6.0%, 4/15/33 38,339
17,688 Government National Mortgage Association I,
6.0%, 5/15/33 19,336
121,829 Government National Mortgage Association I,
6.0%, 5/15/33 135,163
9,703 Government National Mortgage Association I,
6.0%, 6/15/33 10,726
12,941 Government National Mortgage Association I,
6.0%, 9/15/33 14,175
14,790 Government National Mortgage Association I,
6.0%, 9/15/33 16,167
46,228 Government National Mortgage Association I,
6.0%, 9/15/33 51,439
The accompanying notes are an integral part of these financial statements.
80 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
37,692 Government National Mortgage Association I,
6.0%, 10/15/33 $ 41,593
93,541 Government National Mortgage Association I,
6.0%, 11/15/33 102,255
170,602 Government National Mortgage Association I,
6.0%, 3/15/34 193,856
50,571 Government National Mortgage Association I,
6.0%, 6/15/34 55,735
30,571 Government National Mortgage Association I,
6.0%, 8/15/34 33,784
43,986 Government National Mortgage Association I,
6.0%, 8/15/34 48,083
23,383 Government National Mortgage Association I,
6.0%, 9/15/34 25,795
36,785 Government National Mortgage Association I,
6.0%, 9/15/34 40,211
119,293 Government National Mortgage Association I,
6.0%, 9/15/34 131,597
46,943 Government National Mortgage Association I,
6.0%, 10/15/34 51,315
78,278 Government National Mortgage Association I,
6.0%, 10/15/34 85,981
160,710 Government National Mortgage Association I,
6.0%, 10/15/34 175,680
97,475 Government National Mortgage Association I,
6.0%, 11/15/34 108,207
681,847 Government National Mortgage Association I,
6.0%, 9/15/35 752,602
177,927 Government National Mortgage Association I,
6.0%, 8/15/36 196,175
119,748 Government National Mortgage Association I,
6.0%, 10/15/36 132,032
34,916 Government National Mortgage Association I,
6.0%, 11/15/37 38,168
42,036 Government National Mortgage Association I,
6.0%, 8/15/38 45,969
16,619 Government National Mortgage Association I,
6.5%, 10/15/24 17,872
6,196 Government National Mortgage Association I,
6.5%, 2/15/28 6,833
7,269 Government National Mortgage Association I,
6.5%, 4/15/28 8,016
33,949 Government National Mortgage Association I,
6.5%, 4/15/28 37,438
7,163 Government National Mortgage Association I,
6.5%, 6/15/28 7,959
6,268 Government National Mortgage Association I,
6.5%, 8/15/28 6,912
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 81
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,599 Government National Mortgage Association I,
6.5%, 10/15/28 $ 3,968
14,314 Government National Mortgage Association I,
6.5%, 10/15/28 15,785
21,263 Government National Mortgage Association I,
6.5%, 1/15/29 23,448
950 Government National Mortgage Association I,
6.5%, 2/15/29 1,047
4,772 Government National Mortgage Association I,
6.5%, 2/15/29 5,263
12,822 Government National Mortgage Association I,
6.5%, 2/15/29 14,140
6,453 Government National Mortgage Association I,
6.5%, 3/15/29 7,116
7,375 Government National Mortgage Association I,
6.5%, 3/15/29 8,133
10,161 Government National Mortgage Association I,
6.5%, 3/15/29 11,205
29,677 Government National Mortgage Association I,
6.5%, 3/15/29 32,727
72,960 Government National Mortgage Association I,
6.5%, 3/15/29 80,458
2,380 Government National Mortgage Association I,
6.5%, 5/15/29 2,625
3,462 Government National Mortgage Association I,
6.5%, 5/15/29 3,817
49,616 Government National Mortgage Association I,
6.5%, 5/15/29 55,283
23,474 Government National Mortgage Association I,
6.5%, 6/15/29 25,887
59,068 Government National Mortgage Association I,
6.5%, 4/15/31 66,887
12,794 Government National Mortgage Association I,
6.5%, 5/15/31 14,333
14,306 Government National Mortgage Association I,
6.5%, 5/15/31 16,202
36,614 Government National Mortgage Association I,
6.5%, 5/15/31 40,377
5,950 Government National Mortgage Association I,
6.5%, 6/15/31 6,561
12,405 Government National Mortgage Association I,
6.5%, 7/15/31 13,679
40,205 Government National Mortgage Association I,
6.5%, 8/15/31 44,337
17,200 Government National Mortgage Association I,
6.5%, 9/15/31 18,967
4,683 Government National Mortgage Association I,
6.5%, 10/15/31 5,165
The accompanying notes are an integral part of these financial statements.
82 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
19,024 Government National Mortgage Association I,
6.5%, 10/15/31 $ 20,980
62,695 Government National Mortgage Association I,
6.5%, 10/15/31 69,138
3,814 Government National Mortgage Association I,
6.5%, 11/15/31 4,206
41,580 Government National Mortgage Association I,
6.5%, 11/15/31 45,854
17,821 Government National Mortgage Association I,
6.5%, 1/15/32 19,653
78,426 Government National Mortgage Association I,
6.5%, 1/15/32 87,562
7,903 Government National Mortgage Association I,
6.5%, 2/15/32 8,716
13,058 Government National Mortgage Association I,
6.5%, 2/15/32 14,517
15,507 Government National Mortgage Association I,
6.5%, 2/15/32 17,612
19,404 Government National Mortgage Association I,
6.5%, 2/15/32 21,399
30,022 Government National Mortgage Association I,
6.5%, 2/15/32 34,051
14,740 Government National Mortgage Association I,
6.5%, 3/15/32 16,255
76,211 Government National Mortgage Association I,
6.5%, 3/15/32 84,044
4,742 Government National Mortgage Association I,
6.5%, 4/15/32 5,229
8,735 Government National Mortgage Association I,
6.5%, 4/15/32 9,632
8,854 Government National Mortgage Association I,
6.5%, 4/15/32 9,765
59,205 Government National Mortgage Association I,
6.5%, 4/15/32 67,078
4,231 Government National Mortgage Association I,
6.5%, 5/15/32 4,666
5,286 Government National Mortgage Association I,
6.5%, 5/15/32 5,829
8,963 Government National Mortgage Association I,
6.5%, 5/15/32 10,035
9,378 Government National Mortgage Association I,
6.5%, 5/15/32 10,342
9,736 Government National Mortgage Association I,
6.5%, 6/15/32 10,737
9,833 Government National Mortgage Association I,
6.5%, 6/15/32 10,844
12,438 Government National Mortgage Association I,
6.5%, 6/15/32 13,716
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 83
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
8,422 Government National Mortgage Association I,
6.5%, 7/15/32 $ 9,287
9,580 Government National Mortgage Association I,
6.5%, 7/15/32 10,564
9,989 Government National Mortgage Association I,
6.5%, 7/15/32 11,016
103,098 Government National Mortgage Association I,
6.5%, 7/15/32 117,661
3,622 Government National Mortgage Association I,
6.5%, 8/15/32 3,994
32,165 Government National Mortgage Association I,
6.5%, 8/15/32 36,594
42,279 Government National Mortgage Association I,
6.5%, 8/15/32 46,624
15,039 Government National Mortgage Association I,
6.5%, 9/15/32 16,774
37,341 Government National Mortgage Association I,
6.5%, 9/15/32 41,178
39,923 Government National Mortgage Association I,
6.5%, 9/15/32 44,026
70,355 Government National Mortgage Association I,
6.5%, 10/15/32 77,586
43,131 Government National Mortgage Association I,
6.5%, 11/15/32 48,563
269,512 Government National Mortgage Association I,
6.5%, 12/15/32 306,909
2,783 Government National Mortgage Association I,
6.5%, 1/15/33 3,105
288,924 Government National Mortgage Association I,
6.5%, 1/15/33 328,985
29,575 Government National Mortgage Association I,
6.5%, 5/15/33 32,615
1,564 Government National Mortgage Association I,
6.5%, 10/15/33 1,725
4,629 Government National Mortgage Association I,
6.5%, 2/15/34 5,105
106,604 Government National Mortgage Association I,
6.5%, 6/15/34 117,560
3,855 Government National Mortgage Association I,
6.5%, 9/15/34 4,252
38,706 Government National Mortgage Association I,
6.5%, 4/15/35 42,684
6,235 Government National Mortgage Association I,
6.5%, 6/15/35 6,875
17,501 Government National Mortgage Association I,
6.5%, 7/15/35 19,300
61,997 Government National Mortgage Association I,
6.5%, 7/15/35 68,369
The accompanying notes are an integral part of these financial statements.
84 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
2,907 Government National Mortgage Association I,
6.75%, 4/15/26 $ 3,206
13,476 Government National Mortgage Association I,
7.0%, 8/15/23 14,055
44,701 Government National Mortgage Association I,
7.0%, 9/15/24 48,207
17,365 Government National Mortgage Association I,
7.0%, 7/15/25 18,602
6,672 Government National Mortgage Association I,
7.0%, 11/15/26 7,322
15,786 Government National Mortgage Association I,
7.0%, 6/15/27 17,490
16,311 Government National Mortgage Association I,
7.0%, 1/15/28 17,505
15,271 Government National Mortgage Association I,
7.0%, 2/15/28 16,178
11,933 Government National Mortgage Association I,
7.0%, 3/15/28 12,153
5,332 Government National Mortgage Association I,
7.0%, 4/15/28 5,379
14,564 Government National Mortgage Association I,
7.0%, 7/15/28 15,945
1,189 Government National Mortgage Association I,
7.0%, 8/15/28 1,318
12,618 Government National Mortgage Association I,
7.0%, 11/15/28 14,295
36,884 Government National Mortgage Association I,
7.0%, 11/15/28 41,375
21,165 Government National Mortgage Association I,
7.0%, 4/15/29 21,653
23,906 Government National Mortgage Association I,
7.0%, 4/15/29 25,381
21,701 Government National Mortgage Association I,
7.0%, 5/15/29 22,047
3,616 Government National Mortgage Association I,
7.0%, 6/15/29 3,623
9,394 Government National Mortgage Association I,
7.0%, 7/15/29 10,355
42,213 Government National Mortgage Association I,
7.0%, 11/15/29 45,273
1,903 Government National Mortgage Association I,
7.0%, 12/15/30 1,933
6,282 Government National Mortgage Association I,
7.0%, 12/15/30 6,496
29,809 Government National Mortgage Association I,
7.0%, 12/15/30 34,007
36,584 Government National Mortgage Association I,
7.0%, 12/15/30 37,042
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 85
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
40,887 Government National Mortgage Association I,
7.0%, 1/15/31 $ 41,296
5,061 Government National Mortgage Association I,
7.0%, 3/15/31 5,128
22,589 Government National Mortgage Association I,
7.0%, 6/15/31 26,019
2,669 Government National Mortgage Association I,
7.0%, 7/15/31 3,078
131,363 Government National Mortgage Association I,
7.0%, 8/15/31 152,068
11,562 Government National Mortgage Association I,
7.0%, 9/15/31 12,009
28,944 Government National Mortgage Association I,
7.0%, 9/15/31 31,450
7,791 Government National Mortgage Association I,
7.0%, 11/15/31 8,066
48,811 Government National Mortgage Association I,
7.0%, 3/15/32 52,942
42,923 Government National Mortgage Association I,
7.0%, 4/15/32 46,889
71,954 Government National Mortgage Association I,
7.0%, 5/15/32 83,397
6,109 Government National Mortgage Association I,
7.5%, 3/15/23 6,381
24,605 Government National Mortgage Association I,
7.5%, 10/15/23 26,036
1,287 Government National Mortgage Association I,
7.5%, 6/15/24 1,308
8,743 Government National Mortgage Association I,
7.5%, 8/15/25 8,850
3,842 Government National Mortgage Association I,
7.5%, 9/15/25 4,094
3,545 Government National Mortgage Association I,
7.5%, 12/15/25 3,617
582 Government National Mortgage Association I,
7.5%, 2/15/26 582
9,691 Government National Mortgage Association I,
7.5%, 2/15/27 10,383
26,639 Government National Mortgage Association I,
7.5%, 3/15/27 30,258
39,913 Government National Mortgage Association I,
7.5%, 10/15/27 43,633
14,748 Government National Mortgage Association I,
7.5%, 6/15/29 16,064
2,598 Government National Mortgage Association I,
7.5%, 8/15/29 2,633
7,812 Government National Mortgage Association I,
7.5%, 8/15/29 7,880
The accompanying notes are an integral part of these financial statements.
86 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
16,641 Government National Mortgage Association I,
7.5%, 9/15/29 $ 16,677
5,563 Government National Mortgage Association I,
7.5%, 10/15/29 5,725
7,971 Government National Mortgage Association I,
7.5%, 10/15/29 8,675
13,688 Government National Mortgage Association I,
7.5%, 2/15/31 13,823
15,129 Government National Mortgage Association I,
7.5%, 2/15/31 15,505
6,894 Government National Mortgage Association I,
7.5%, 3/15/31 7,056
41,888 Government National Mortgage Association I,
7.5%, 12/15/31 43,396
2,103 Government National Mortgage Association I,
7.75%, 2/15/30 2,129
5,241 Government National Mortgage Association I,
8.25%, 5/15/20 5,318
1,210 Government National Mortgage Association I,
8.5%, 8/15/21 1,214
209 Government National Mortgage Association I,
9.0%, 12/15/19 211
1,225 Government National Mortgage Association I,
9.0%, 1/15/20 1,235
129 Government National Mortgage Association I,
9.0%, 9/15/21 131
1,484 Government National Mortgage Association I,
9.0%, 6/15/22 1,508
626,120 Government National Mortgage Association II,
3.5%, 3/20/45 629,172
505,742 Government National Mortgage Association II,
3.5%, 4/20/45 508,387
880,261 Government National Mortgage Association II,
3.5%, 4/20/45 884,899
1,239,555 Government National Mortgage Association II,
3.5%, 4/20/45 1,246,206
3,462,662 Government National Mortgage Association II,
3.5%, 8/20/45 3,484,694
5,496,243 Government National Mortgage Association II,
3.5%, 1/20/46 5,530,369
1,584,674 Government National Mortgage Association II,
3.5%, 3/20/46 1,595,395
7,103,644 Government National Mortgage Association II,
4.0%, 7/20/44 7,336,314
192,552 Government National Mortgage Association II,
4.0%, 9/20/44 198,873
1,663,127 Government National Mortgage Association II,
4.0%, 10/20/44 1,717,706
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 87
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
6,513,063 Government National Mortgage Association II,
4.0%, 10/20/46 $ 6,703,636
2,058,428 Government National Mortgage Association II,
4.0%, 2/20/48 2,123,237
2,064,177 Government National Mortgage Association II,
4.0%, 4/20/48 2,129,007
11,385,000 Government National Mortgage Association II,
4.0%, 7/1/48 (TBA) 11,668,736
65,754 Government National Mortgage Association II,
4.5%, 12/20/34 68,973
226,664 Government National Mortgage Association II,
4.5%, 1/20/35 237,265
37,974 Government National Mortgage Association II,
4.5%, 3/20/35 39,801
1,102,974 Government National Mortgage Association II,
4.5%, 9/20/41 1,160,379
5,859,600 Government National Mortgage Association II,
4.5%, 9/20/44 6,018,450
1,652,520 Government National Mortgage Association II,
4.5%, 10/20/44 1,740,734
3,431,666 Government National Mortgage Association II,
4.5%, 11/20/44 3,614,410
9,136,882 Government National Mortgage Association II,
4.5%, 2/20/48 9,500,289
8,660 Government National Mortgage Association II,
5.0%, 12/20/18 8,755
4,522 Government National Mortgage Association II,
5.0%, 2/20/19 4,574
7,021 Government National Mortgage Association II,
5.0%, 1/20/20 7,215
33,561 Government National Mortgage Association II,
5.5%, 10/20/19 33,766
159,465 Government National Mortgage Association II,
5.5%, 3/20/34 174,145
138,990 Government National Mortgage Association II,
5.5%, 4/20/34 151,758
91,266 Government National Mortgage Association II,
5.5%, 10/20/37 96,785
140,300 Government National Mortgage Association II,
5.75%, 6/20/33 150,059
36,739 Government National Mortgage Association II,
5.9%, 11/20/27 39,531
24,193 Government National Mortgage Association II,
5.9%, 1/20/28 26,032
64,500 Government National Mortgage Association II,
5.9%, 7/20/28 68,916
910 Government National Mortgage Association II,
6.0%, 12/20/18 911
The accompanying notes are an integral part of these financial statements.
88 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
4,098 Government National Mortgage Association II,
6.0%, 7/20/19 $ 4,109
15,316 Government National Mortgage Association II,
6.0%, 10/20/31 16,879
73,444 Government National Mortgage Association II,
6.0%, 1/20/33 82,868
82,527 Government National Mortgage Association II,
6.0%, 10/20/33 91,166
46,031 Government National Mortgage Association II,
6.0%, 6/20/34 50,842
46,043 Government National Mortgage Association II,
6.45%, 7/20/32 51,179
80,746 Government National Mortgage Association II,
6.45%, 1/20/33 89,752
17,322 Government National Mortgage Association II,
6.5%, 1/20/24 18,077
33,851 Government National Mortgage Association II,
6.5%, 8/20/28 37,708
1,623 Government National Mortgage Association II,
6.5%, 2/20/29 1,828
637 Government National Mortgage Association II,
6.5%, 3/20/29 712
20,172 Government National Mortgage Association II,
6.5%, 4/20/29 22,555
10,678 Government National Mortgage Association II,
6.5%, 4/20/31 12,116
7,688 Government National Mortgage Association II,
6.5%, 6/20/31 8,727
37,593 Government National Mortgage Association II,
6.5%, 10/20/32 42,779
50,888 Government National Mortgage Association II,
6.5%, 3/20/34 58,215
5,576 Government National Mortgage Association II,
7.0%, 5/20/26 6,180
15,481 Government National Mortgage Association II,
7.0%, 8/20/27 17,388
16,702 Government National Mortgage Association II,
7.0%, 6/20/28 18,892
54,117 Government National Mortgage Association II,
7.0%, 11/20/28 61,202
56,334 Government National Mortgage Association II,
7.0%, 1/20/29 63,867
5,626 Government National Mortgage Association II,
7.0%, 2/20/29 6,350
1,620 Government National Mortgage Association II,
7.0%, 12/20/30 1,842
8,596 Government National Mortgage Association II,
7.0%, 1/20/31 9,969
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 89
Schedule of Investments | 6/30/18 (continued)
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
4,172 Government National Mortgage Association II,
7.0%, 3/20/31 $ 4,713
22,383 Government National Mortgage Association II,
7.0%, 7/20/31 26,041
8,786 Government National Mortgage Association II,
7.0%, 11/20/31 10,131
8,990 Government National Mortgage Association II,
7.5%, 5/20/30 10,546
2,759 Government National Mortgage Association II,
7.5%, 6/20/30 3,170
6,901 Government National Mortgage Association II,
7.5%, 7/20/30 7,727
9,822 Government National Mortgage Association II,
7.5%, 8/20/30 11,681
5,057 Government National Mortgage Association II,
7.5%, 12/20/30 6,013
16 Government National Mortgage Association II,
8.0%, 5/20/25 17
314 Government National Mortgage Association II,
9.0%, 9/20/21 315
1,811 Government National Mortgage Association II,
9.0%, 3/20/22 1,816
250 Government National Mortgage Association II,
9.0%, 4/20/22 251
2,092 Government National Mortgage Association II,
9.0%, 11/20/24 2,098
648,043 Tennessee Valley Authority, 4.929%, 1/15/21 669,663
65,051,126 U.S. Treasury Inflation Indexed Bonds,
0.75%, 2/15/45 63,096,347
62,654,041 U.S. Treasury Inflation Indexed Bonds,
0.875%, 2/15/47 62,654,528
74,255,915 U.S. Treasury Inflation Indexed Bonds,
1.0%, 2/15/46 76,476,698
------------------------------------------------------------------------------------------------
TOTAL U.S. GOVERNMENT AND
AGENCY OBLIGATIONS
(Cost $1,468,607,986) $ 1,433,142,888
------------------------------------------------------------------------------------------------
TEMPORARY CASH INVESTMENTS --
1.5% of Net Assets
COMMERCIAL PAPER -- 0.2%
12,345,000 Energy Transfer LP, 2.803%, 7/5/18 $ 12,333,008
------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
90 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
------------------------------------------------------------------------------------------------
REPURCHASE AGREEMENTS -- 1.3%
20,505,000 $20,505,000 RBC Capital Markets LLC, 2.10%,
dated 6/29/18 plus accrued interest on 7/2/18
collateralized by the following:
$8,296,976 Federal National Mortgage Association,
2.0% - 5.0%, 9/1/23 - 5/1/48 $12,618,125
Freddie Mac Giant, 2.5% - 3.5%, 1/1/33 - 11/1/43. $ 20,505,000
25,030,000 $25,030,000 ScotiaBank, 2.10%, dated 6/29/18
plus accrued interest on 7/2/18 collateralized by
$25,535,069 Federal National Mortgage
Association, 3.2% - 4.0%, 8/1/47 - 2/1/48. 25,030,000
10,800,000 $10,800,000 TD Securities USA LLC, 2.10%,
dated 6/29/18 plus accrued interest on 7/2/18
collateralized by $11,016,000 Freddie Mac Giant,
3.5%, 7/1/46. 10,800,000
7,730,000 $7,730,000 TD Securities USA LLC, 2.12%,
dated 6/29/18 plus accrued interest on 7/2/18
collateralized by $7,884,601 Freddie Mac Giant,
3.5%, 7/1/46. 7,730,000
---------------
$ 64,065,000
------------------------------------------------------------------------------------------------
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $76,406,159) $ 76,398,008
------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS IN UNAFFILIATED
ISSUERS -- 98.9%
(Cost $5,026,402,691) $ 4,930,677,474
------------------------------------------------------------------------------------------------
OTHER ASSETS AND LIABILITIES -- 1.1% $ 57,518,108
------------------------------------------------------------------------------------------------
NET ASSETS -- 100.0% $ 4,988,195,582
================================================================================================
bps Basis Points.
FREMF Freddie Mac Multifamily Fixed-Rate Mortgage Loans.
ICE Intercontinental Exchange.
LIBOR London Interbank Offered Rate.
PRIME U.S. Federal Funds Rate.
PSF-GTD Permanent School Fund Guaranteed.
REIT Real Estate Investment Trust.
REMICS Real Estate Mortgage Investment Conduits.
(TBA) "To Be Announced" Securities.
ZERO Zero Constant Index.
(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, 2018, the value of these securities
amounted to $1,571,224,757, or 31.5% of net assets.
(Cat Bond) Catastrophe or event-linked bond. At June 30, 2018, the value of
these securities amounted to $70,308,618, or 1.4% of net assets. See
Notes to Financial Statements -- Note 1G.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 91
Schedule of Investments | 6/30/18 (continued)
+ Amount rounds to less than 0.1%.
* Senior secured floating rate loan interests in which the Fund
invests generally pay interest at rates that are periodically
redetermined 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, (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, 2018.
+ Securities that used significant unobservable inputs to determine
their value.
(a) Security is perpetual in nature and has no stated maturity date.
(b) Floating rate note. Coupon rate, reference index and spread shown at
June 30, 2018.
(c) The interest rate is subject to change periodically. The interest
rate and/or reference index and spread shown at June 30, 2018.
(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, 2018.
(e) Security represents the interest-only portion payments on a pool of
underlying mortgages or mortgage-backed securities.
(f) Structured reinsurance investment. At June 30, 2018, the value of
these securities amounted to $106,384,228, or 2.1% of net assets.
See Notes to Financial Statements -- Note 1G.
(g) Rate to be determined.
(h) Consists of Revenue Bonds unless otherwise indicated.
(i) Represents a General Obligation Bond.
(j) This term loan will settle after June 30, 2018, at which time the
interest rate will be determined.
(k) Security issued with a zero coupon. Income is recognized through
accretion of discount.
FUTURES CONTRACTS
FIXED INCOME INTEREST RATE FUTURES CONTRACTS
----------------------------------------------------------------------------------------
Number of
Contracts Expiration Notional Market Unrealized
Long Description Date Amount Value (Depreciation)
----------------------------------------------------------------------------------------
2,312 U.S. 2-Year 9/28/18 $490,866,388 $489,746,627 $(1,119,761)
Note (CBT)
2,838 U.S. 5-Year 9/28/18 323,021,941 322,445,580 (576,361)
Note (CBT)
----------------------------------------------------------------------------------------
$813,888,329 $812,192,207 $(1,696,122)
========================================================================================
The accompanying notes are an integral part of these financial statements.
92 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------
Number of Unrealized
Contracts Expiration Notional Market Appreciation
Short Description Date Amount Value (Depreciation)
------------------------------------------------------------------------------------------
3,627 U.S. 10-Year 9/19/18 $ 436,463,277 $ 435,920,062 $ 543,215
Note (CBT)
820 U.S. 10-Year 9/19/18 104,707,351 105,152,188 (444,837)
Ultra Bond (CBT)
442 U.S. Long 9/19/18 64,001,874 64,090,000 (88,126)
Bond (CBT)
177 U.S. Ultra 9/19/18 27,606,750 28,242,562 (635,812)
Bond (CBT)
------------------------------------------------------------------------------------------
$ 632,779,252 $ 633,404,812 $ (625,560)
------------------------------------------------------------------------------------------
TOTAL FUTURES CONTRACTS $ 181,109,077 $ 178,787,395 $(2,321,682)
==========================================================================================
SWAP CONTRACTS
CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS -- BUY PROTECTION
----------------------------------------------------------------------------------------------------------------------
Obligation Annual Unrealized
Notional Reference/ Pay/ Fixed Expiration Premiums Appreciation Market
Amount ($)(1) Index Receive(2) Rate Date (Received) (Depreciation) Value
----------------------------------------------------------------------------------------------------------------------
23,451,400 Markit CDX North Pay 5.00% 12/20/21 $ (1,656,155) $ (32,858) $ (1,689,013)
America High Yield
Index Series 27
43,995,600 Markit CDX North Pay 5.00% 6/20/22 (3,241,098) 93,310 (3,147,788)
America High Yield
Index Series 28
----------------------------------------------------------------------------------------------------------------------
TOTAL CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS --
BUY PROTECTION $ (4,897,253) $ 60,452 $ (4,836,801)
======================================================================================================================
OVER THE COUNTER (OTC) CREDIT DEFAULT SWAP CONTRACTS -- SELL PROTECTION
----------------------------------------------------------------------------------------------------------------------
Obligation Annual
Notional Reference/ Pay/ Fixed Expiration Premiums Unrealized Market
Amount ($)(1) Counterparty Index Receive(3) Rate Date (Received) Appreciation Value
----------------------------------------------------------------------------------------------------------------------
2,851,000 JPMorgan Chase Simon Receive 1.00% 6/20/22 $ (8,072) $ 63,872 $ 55,800
Bank NA Property
Group LP
3,979,000 JPMorgan Chase Simon Receive 1.00% 6/20/22 (13,137) 91,015 77,878
Bank NA Property
Group LP
----------------------------------------------------------------------------------------------------------------------
TOTAL OVER THE COUNTER (OTC) CREDIT DEFAULT SWAP CONTRACTS --
SELL PROTECTION $ (21,209) $ 154,887 $ 133,678
----------------------------------------------------------------------------------------------------------------------
TOTAL SWAP CONTRACTS $(4,918,462) $ 215,339 $(4,703,123)
======================================================================================================================
(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.
(2) Pays Quarterly.
(3) Receives Quarterly.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 93
Schedule of Investments | 6/30/18 (continued)
Purchases and sales of securities (excluding temporary cash investments) for the
year ended June 30, 2018, were as follows:
--------------------------------------------------------------------------------
Purchases Sales
--------------------------------------------------------------------------------
Long-Term U.S. Government Securities $ 367,807,310 $ 415,783,367
Other Long-term Securities $ 2,238,613,197 $ 1,736,892,245
The Fund is permitted to engage in purchase and sale transactions ("cross
trades") with certain funds and accounts for which Amundi Pioneer Asset
Management, Inc. (the "Adviser"), serves as the 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, 2018, the Fund
engaged in purchases and sales pursuant to these procedures amounting to
$23,607,089 and $4,810,159, respectively, resulting in a gain of $49,732.
At June 30, 2018, the net unrealized depreciation on investments based on cost
for federal tax purposes of $5,029,113,440 was as follows:
Aggregate gross unrealized appreciation for all investments in
which there is an excess of value over tax cost $ 27,658,469
Aggregate gross unrealized depreciation for all investments in
which there is an excess of tax cost over value (133,119,240)
---------------
Net unrealized depreciation $ (105,460,771)
===============
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 - 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 accompanying notes are an integral part of these financial statements.
94 Pioneer Bond Fund | Annual Report | 6/30/18
The following is a summary of the inputs used as of June 30, 2018, in valuing
the Fund's investments.
------------------------------------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
------------------------------------------------------------------------------------------------------
Convertible Preferred Stocks $ 45,700,393 $ -- $ -- $ 45,700,393
Asset Backed Securities -- 244,082,504 -- 244,082,504
Collateralized Mortgage
Obligations -- 1,020,104,074 -- 1,020,104,074
Corporate Bonds
Insurance
Reinsurance -- 69,048,368 107,644,478 176,692,846
All Other Corporate Bonds -- 1,639,314,294 -- 1,639,314,294
Foreign Government Bonds -- 30,395,537 -- 30,395,537
Municipal Bonds -- 113,466,184 -- 113,466,184
Senior Secured Floating
Rate Loan Interests -- 151,380,746 -- 151,380,746
U.S. Government and
Agency Obligations -- 1,433,142,888 -- 1,433,142,888
Commercial Paper -- 12,333,008 -- 12,333,008
Repurchase Agreements -- 64,065,000 -- 64,065,000
-----------------------------------------------------------------------------------------------------
Total Investments in Securities $ 45,700,393 $ 4,777,332,603 $ 107,644,478 $ 4,930,677,474
-----------------------------------------------------------------------------------------------------
Other Financial Instruments
Net unrealized depreciation
on futures contracts $ (2,321,682) $ -- $ -- $ (2,321,682)
Swap contracts, at value -- (4,703,123) -- (4,703,123)
-----------------------------------------------------------------------------------------------------
Total Other
Financial Instruments $ (2,321,682) $ (4,703,123) $ -- $ (7,024,805)
=====================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 95
Schedule of Investments | 6/30/18 (continued)
The following is a reconciliation of assets valued using significant
unobservable inputs (Level 3):
--------------------------------------------------------------------------------
Corporate
Bonds
--------------------------------------------------------------------------------
Balance as of 6/30/17 $ 70,346,605
Realized gain (loss)1 (276,269)
Changed in unrealized appreciation (depreciation)2 (5,819,897)
Accrued discounts/premiums (28,989)
Purchases 86,740,485
Sales (43,317,457)
Transfers in to Level 3* --
Transfers out of Level 3* --
--------------------------------------------------------------------------------
Balance as of 6/30/18 $ 107,644,478
================================================================================
(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. For year
ended June 30, 2018, there were no transfers between Levels 1, 2 and 3.
Net change in unrealized appreciation (depreciation) of Level 3
investments still held and considered Level 3 at June 30, 2018: $(2,932,524)
------------
The accompanying notes are an integral part of these financial statements.
96 Pioneer Bond Fund | Annual Report | 6/30/18
Statement of Assets and Liabilities | 6/30/18
ASSETS:
Investments in unaffiliated issuers, at value (cost $5,026,402,691) $ 4,930,677,474
Cash 41,838,214
Futures collateral 5,791,450
Swaps collateral 1,726,447
Due from broker for futures 2,308,648
Due from broker for swaps 4,709,832
Variation margin for centrally cleared swap contracts 40,173
Net unrealized appreciation on unfunded loan commitments 1,444
Receivables --
Investment securities sold 30,838,498
Fund shares sold 19,398,165
Dividends 331,959
Interest 28,020,844
Other assets 77,021
------------------------------------------------------------------------------------------
Total assets $ 5,065,760,169
==========================================================================================
LIABILITIES:
Payables --
Investment securities purchased $ 40,754,968
Fund shares repurchased 24,690,407
Distributions 2,499,401
Trustees' fees 3,394
Variation margin for futures contracts 141,514
Swap contracts, at value (net premiums received $(4,918,462)) 4,703,123
Net unrealized depreciation on futures contracts 2,321,682
Due to affiliates 402,013
Accrued expenses 2,048,085
------------------------------------------------------------------------------------------
Total liabilities $ 77,564,587
==========================================================================================
NET ASSETS:
Paid-in capital $ 5,097,765,390
Undistributed net investment income 6,240,063
Accumulated net realized loss on investments (17,979,755)
Net unrealized depreciation on investments (97,830,116)
------------------------------------------------------------------------------------------
Net assets $ 4,988,195,582
==========================================================================================
NET ASSET VALUE PER SHARE:
No par value (unlimited number of shares authorized)
Class A (based on $1,081,120,974/114,354,105 shares) $ 9.45
Class C (based on $79,307,726/8,483,427 shares) $ 9.35
Class K (based on $939,271,828/99,418,737 shares) $ 9.45
Class R (based on $179,729,081/18,838,395 shares) $ 9.54
Class Y (based on $2,708,765,973/289,251,281 shares) $ 9.36
MAXIMUM OFFERING PRICE:
Class A ($9.45 (divided by) 95.5%) $ 9.90
==========================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 97
Statement of Operations
For the Year Ended 6/30/18
INVESTMENT INCOME:
Interest from unaffiliated issuers $ 173,039,214
Dividends from unaffiliated issuers 2,685,827
------------------------------------------------------------------------------------------------
Total investment income $ 175,725,041
================================================================================================
EXPENSES:
Management fees $ 19,731,767
Administrative expense 1,370,766
Transfer agent fees
Class A 2,751,556
Class C 111,274
Class K 4,268
Class R 451,613
Class Y 3,190,488
Distribution fees
Class A 2,863,481
Class C 897,826
Class R 896,615
Shareowner communications expense 304,055
Custodian fees 249,809
Registration fees 261,208
Professional fees 178,037
Printing expense 100,766
Pricing expense 245,284
Trustees' fees 225,861
Insurance expense 56,993
Miscellaneous 140,502
------------------------------------------------------------------------------------------------
Total expenses $ 34,032,169
Less fees waived and expenses reimbursed
by the Adviser (1,480,872)
------------------------------------------------------------------------------------------------
Net expenses $ 32,551,297
------------------------------------------------------------------------------------------------
Net investment income $ 143,173,744
------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Investments in unaffiliated issuers $ (7,593,522)
Futures contracts 20,531,791
Swap contracts (2,014,273) $ 10,923,996
-----------------------------------------------------------------------------------------------
Change in net unrealized appreciation (depreciation) on:
Investments in unaffiliated issuers $ (135,315,328)
Futures contracts (5,171,993)
Swap contracts 126,180
Unfunded loan commitments 1,444 $ (140,359,697)
------------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments $ (129,435,701)
------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $ 13,738,043
================================================================================================
The accompanying notes are an integral part of these financial statements.
98 Pioneer Bond Fund | Annual Report | 6/30/18
Statements of Changes in Net Assets
--------------------------------------------------------------------------------------------------
Year Ended Year Ended
6/30/18 6/30/17
--------------------------------------------------------------------------------------------------
FROM OPERATIONS:
Net investment income (loss) $ 143,173,744 $ 117,145,896
Net realized gain (loss) on investments 10,923,996 29,979,241
Change in net unrealized appreciation (depreciation)
on investments (140,359,697) (35,392,211)
--------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $ 13,738,043 $ 111,732,926
--------------------------------------------------------------------------------------------------
DISTRIBUTIONS TO SHAREOWNERS:
Net investment income:
Class A ($0.28 and $0.29 per share, respectively) $ (32,824,981) $ (35,066,940)
Class C ($0.20 and $0.21 per share, respectively) (1,902,820) (2,681,780)
Class K ($0.31 and $0.33 per share, respectively) (27,240,137) (14,828,850)
Class R ($0.25 and $0.27 per share, respectively) (4,692,437) (4,575,300)
Class Y ($0.30 and $0.31 per share, respectively) (84,440,366) (75,508,120)
--------------------------------------------------------------------------------------------------
Total distributions to shareowners $ (151,100,741) $ (132,660,990)
--------------------------------------------------------------------------------------------------
FROM FUND SHARE TRANSACTIONS
Net proceeds from sales of shares $ 1,964,162,519 $ 2,063,285,335
Reinvestment of distributions 119,480,660 102,010,632
Cost of shares repurchased (1,674,666,408) (1,372,913,664)
--------------------------------------------------------------------------------------------------
Net increase in net assets resulting from
Fund share transactions $ 408,976,771 $ 792,382,303
--------------------------------------------------------------------------------------------------
Net increase in net assets $ 271,614,073 $ 771,454,239
NET ASSETS:
Beginning of year $ 4,716,581,509 $ 3,945,127,270
--------------------------------------------------------------------------------------------------
End of year $ 4,988,195,582 $ 4,716,581,509
--------------------------------------------------------------------------------------------------
Undistributed of net investment income $ 6,240,063 $ 1,987,223
==================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 99
Statements of Changes in Net Assets (continued)
---------------------------------------------------------------------------------------------------
Year Ended Year Ended Year Ended Year Ended
6/30/18 6/30/18 6/30/17 6/30/17
Shares Amount Shares Amount
---------------------------------------------------------------------------------------------------
Class A
Shares sold 32,509,729 $ 313,658,795 36,669,895 $ 356,565,380
Reinvestment of distributions 2,370,359 22,839,925 2,534,877 24,634,219
Less shares repurchased (39,650,187) (381,172,700) (40,716,134) (395,166,041)
---------------------------------------------------------------------------------------------------
Net decrease (4,770,099) $ (44,673,980) (1,511,362) $ (13,966,442)
===================================================================================================
Class C
Shares sold 1,175,621 $ 11,253,310 1,704,424 $ 16,396,255
Reinvestment of distributions 152,545 1,453,906 184,381 1,771,759
Less shares repurchased (2,897,968) (27,587,924) (5,744,422) (55,006,633)
---------------------------------------------------------------------------------------------------
Net decrease (1,569,802) $ (14,880,708) (3,855,617) $ (36,838,619)
===================================================================================================
Class K
Shares sold 45,145,368 $ 434,364,284 50,598,291 $ 490,469,822
Reinvestment of distributions 2,183,632 20,998,540 867,934 8,426,426
Less shares repurchased (22,716,260) (217,864,913) (11,501,721) (111,726,287)
---------------------------------------------------------------------------------------------------
Net increase 24,612,740 $ 237,497,911 39,964,504 $ 387,169,961
===================================================================================================
Class R
Shares sold 6,423,616 $ 62,506,249 6,419,830 $ 62,895,959
Reinvestment of distributions 411,975 4,003,314 371,546 3,642,529
Less shares repurchased (6,238,265) (60,823,043) (4,393,901) (43,080,190)
---------------------------------------------------------------------------------------------------
Net increase 597,326 $ 5,686,520 2,397,475 $ 23,458,298
===================================================================================================
Class Y
Shares sold 119,625,124 $ 1,142,379,881 118,309,079 $ 1,136,957,919
Reinvestment of distributions 7,353,829 70,184,975 6,600,224 63,535,699
Less shares repurchased (103,621,965) (987,217,828) (79,896,185) (767,934,513)
---------------------------------------------------------------------------------------------------
Net increase 23,356,988 $ 225,347,028 45,013,118 $ 432,559,105
===================================================================================================
The accompanying notes are an integral part of these financial statements.
100 Pioneer Bond Fund | Annual Report | 6/30/18
Financial Highlights
----------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/18 6/30/17 6/30/16* 6/30/15* 6/30/14*
----------------------------------------------------------------------------------------------------------------------------------
Class A
Net asset value, beginning of period $ 9.71 $ 9.76 $ 9.68 $ 9.88 $ 9.67
----------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.26(a) $ 0.25(a) $ 0.25(a) $ 0.27 $ 0.35
Net realized and unrealized gain (loss) on investments (0.24) (0.01) 0.12 (0.14) 0.24
----------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.02 $ 0.24 $ 0.37 $ 0.13 $ 0.59
----------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.28) $ (0.29) $ (0.27) $ (0.29) $ (0.38)
Net realized gain -- -- (0.02) (0.04) --
----------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.28) $ (0.29) $ (0.29) $ (0.33) $ (0.38)
----------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.26) $ (0.05) $ 0.08 $ (0.20) $ 0.21
----------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.45 $ 9.71 $ 9.76 $ 9.68 $ 9.88
==================================================================================================================================
Total return (b) 0.14% 2.48% 3.93% 1.32% 6.19%
Ratio of net expenses to average net assets 0.85% 0.85% 0.85% 0.85% 0.85%
Ratio of net investment income (loss) to average net assets 2.71% 2.60% 2.58% 2.68% 3.52%
Portfolio turnover rate 45% 44% 43% 81% 41%
Net assets, end of period (in thousands) $1,081,121 $1,156,940 $1,177,941 $1,044,659 $706,962
Ratios with no waiver of fees and
assumption of expense by the
Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 0.96% 0.99% 0.98% 0.93% 1.00%
Net investment income (loss) to average net assets 2.60% 2.46% 2.45% 2.60% 3.37%
==================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period 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 | 6/30/18 101
Financial Highlights (continued)
-------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/18 6/30/17 6/30/16* 6/30/15* 6/30/14*
-------------------------------------------------------------------------------------------------------------------------
Class C
Net asset value, beginning of period $ 9.60 $ 9.66 $ 9.57 $ 9.77 $ 9.57
-------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.19(a) $ 0.18(a) $ 0.17(a) $ 0.19 $ 0.26
Net realized and unrealized gain (loss) on investments (0.24) (0.03) 0.14 (0.14) 0.23
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ (0.05) $ 0.15 $ 0.31 $ 0.05 $ 0.49
-------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.20) $ (0.21) $ (0.20) $ (0.21) $ (0.29)
Net realized gain -- -- (0.02) (0.04) --
-------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.20) $ (0.21) $ (0.22) $ (0.25) $ (0.29)
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.25) $ (0.06) $ 0.09 $ (0.20) $ 0.20
-------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.35 $ 9.60 $ 9.66 $ 9.57 $ 9.77
=========================================================================================================================
Total return (b) (0.52)% 1.62% 3.28% 0.49% 5.20%
Ratio of net expenses to average net assets 1.60% 1.59% 1.60% 1.63% 1.73%
Ratio of net investment income (loss) to average net assets 1.96% 1.84% 1.84% 1.89% 2.69%
Portfolio turnover rate 45% 44% 43% 81% 41%
Net assets, end of period (in thousands) $79,308 $96,547 $134,299 $114,222 $73,224
=========================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period 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.
102 Pioneer Bond Fund | Annual Report | 6/30/18
-------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/18 6/30/17 6/30/16* 6/30/15* 6/30/14*
-------------------------------------------------------------------------------------------------------------------------
Class K
Net asset value, beginning of period $ 9.71 $ 9.76 $ 9.68 $ 9.87 $ 9.67
-------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.30(a) $ 0.29(a) $ 0.29(a) $ 0.30 $ 0.40
Net realized and unrealized gain (loss) on investments (0.25) (0.01) 0.12 (0.13) 0.20
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.05 $ 0.28 $ 0.41 $ 0.17 $ 0.60
-------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.31) $ (0.33) $ (0.31) $ (0.32) $(0.40)
Net realized gain -- -- (0.02) (0.04) --
-------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.31) $ (0.33) $ (0.33) $ (0.36) $(0.40)
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.26) $ (0.05) $ 0.08 $ (0.19) $ 0.20
-------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.45 $ 9.71 $ 9.76 $ 9.68 $ 9.87
=========================================================================================================================
Total return (b) 0.54% 2.87% 4.32% 1.80% 6.37%
Ratio of net expenses to average net assets 0.46% 0.47% 0.47% 0.47% 0.56%
Ratio of net investment income (loss) to average net assets 3.11% 3.01% 2.98% 3.03% 3.59%
Portfolio turnover rate 45% 44% 43% 81% 41%
Net assets, end of period (in thousands) $939,272 $726,063 $340,096 $179,135 $4,398
=========================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 103
Financial Highlights (continued)
-------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/18 6/30/17 6/30/16* 6/30/15* 6/30/14*
-------------------------------------------------------------------------------------------------------------------------
Class R
Net asset value, beginning of period $ 9.80 $ 9.85 $ 9.77 $ 9.97 $ 9.76
-------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.24(a) $ 0.23(a) $ 0.23(a) $ 0.25 $ 0.32
Net realized and unrealized gain (loss) on investments (0.25) (0.01) 0.12 (0.15) 0.23
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ (0.01) $ 0.22 $ 0.35 $ 0.10 $ 0.55
-------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.25) $ (0.27) $ (0.25) $ (0.26) $ (0.34)
Net realized gain -- -- (0.02) (0.04) --
-------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.25) $ (0.27) $ (0.27) $ (0.30) $ (0.34)
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.26) $ (0.05) $ 0.08 $ (0.20) $ 0.21
-------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.54 $ 9.80 $ 9.85 $ 9.77 $ 9.97
=========================================================================================================================
Total return (b) (0.08)% 2.23% 3.66% 1.06% 5.75%
Ratio of net expenses to average net assets 1.10% 1.10% 1.10% 1.10% 1.25%
Ratio of net investment income (loss) to average net assets 2.46% 2.35% 2.33% 2.43% 3.12%
Portfolio turnover rate 45% 44% 43% 81% 41%
Net assets, end of period (in thousands) $179,729 $178,770 $156,110 $116,815 $48,264
Ratios with no waiver of fees and
assumption of expense by the
Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 1.21% 1.24% 1.21% 1.21% 1.32%
Net investment income (loss) to average net assets 2.35% 2.21% 2.22% 2.32% 3.05%
=========================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
104 Pioneer Bond Fund | Annual Report | 6/30/18
---------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/18 6/30/17 6/30/16* 6/30/15* 6/30/14*
---------------------------------------------------------------------------------------------------------------------------------
Class Y
Net asset value, beginning of period $ 9.62 $ 9.67 $ 9.59 $ 9.79 $ 9.58
---------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.28(a) $ 0.28(a) $ 0.27(a) $ 0.30 $ 0.36
Net realized and unrealized gain (loss) on investments (0.24) (0.02) 0.12 (0.15) 0.24
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.04 $ 0.26 $ 0.39 $ 0.15 $ 0.60
---------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.30) $ (0.31) $ (0.29) $ (0.31) $ (0.39)
Net realized gain -- -- (0.02) (0.04) --
---------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.30) $ (0.31) $ (0.31) $ (0.35) $ (0.39)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.26) $ (0.05) $ 0.08 $ (0.20) $ 0.21
---------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.36 $ 9.62 $ 9.67 $ 9.59 $ 9.79
=================================================================================================================================
Total return (b) 0.40% 2.76% 4.22% 1.59% 6.41%
Ratio of net expenses to average net assets 0.58% 0.58% 0.58% 0.58% 0.66%
Ratio of net investment income (loss) to average net assets 2.98% 2.87% 2.85% 2.95% 3.72%
Portfolio turnover rate 45% 44% 43% 81% 41%
Net assets, end of period (in thousands) $2,708,766 $2,558,262 $2,136,681 $1,644,161 $871,801
Ratios with no waiver of fees and
assumption of expense by the
Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 0.58% 0.59% 0.59% 0.58% 0.66%
Net investment income (loss) to average net assets 2.98% 2.86% 2.84% 2.95% 3.72%
=================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of
each period, reinvestment of all distributions and the complete redemption
of the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/18 105
Notes to Financial Statements | 6/30/18
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 six classes of shares designated as Class A, Class C, Class K,
Class R, Class T and Class Y shares. Class T shares had not commenced operations
as of June 30, 2018. 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.
On July 3, 2017, Amundi acquired Pioneer Investments, a group of asset
management companies located throughout the world. Amundi, one of the world's
largest asset managers, is headquartered in Paris, France. As a result of the
transaction, Pioneer Investment Management, Inc., the Fund's Investment adviser,
became an indirect wholly owned subsidiary of Amundi and Amundi's wholly owned
subsidiary, Amundi USA, Inc. Prior to July 3, 2017, Pioneer Investments was
owned by Pioneer Global Asset Management S.p.A., a wholly owned subsidiary of
UniCredit S.p.A.
In connection with the transaction, the names of the Fund's investment adviser
and principal underwriter changed. Effective July 3, 2017, the name of Pioneer
Investment Management, Inc. changed to Amundi Pioneer Asset Management, Inc.
(the "Adviser") and the name of Pioneer Funds Distributor, Inc. changed to
Amundi Pioneer Distributor, Inc. (the "Distributor").
In October 2016, the Securities and Exchange Commission ("SEC") released its
Final Rule on Investment Company Reporting Modernization. In addition to
introducing two new regulatory reporting forms (Form N-PORT and
106 Pioneer Bond Fund | Annual Report | 6/30/18
Form N-CEN), the Final Rule amends Regulation S-X, which impacts financial
statement presentation, particularly related to the presentation of derivative
investments. The Fund's financial statements were prepared in compliance with
the amendments to Regulation S-X.
The Fund's financial statements have been prepared in conformity with U.S.
generally accepted accounting principles ("U.S. GAAP") that require 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 Fund is an investment company and follows investment company accounting and
reporting guidance under U.S. GAAP. 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.
Loan interests are valued in accordance with guidelines established by the
Board of Trustees 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.
Pioneer Bond Fund | Annual Report | 6/30/18 107
Event-linked bonds or catastrophe bonds are valued at the bid price
obtained from an independent third party pricing service. Other
insurance-linked securities (including 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.
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.
Futures contracts are generally valued at the closing settlement price
established by the exchange on which they are traded.
Repurchase agreements are valued at par. Cash may include overnight time
deposits at approved financial institutions.
Securities or loan interest 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 pursuant to procedures adopted by the Fund's
Board of Trustees. The Adviser's fair valuation team uses fair value
methods approved by the Valuation Committee of the Board of Trustees. The
Adviser's fair valuation team is responsible for monitoring developments
that may impact fair valued securities and for discussing and assessing
fair values on an ongoing basis, and at least quarterly, with the
Valuation Committee of the Board of Trustees.
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
108 Pioneer Bond Fund | Annual Report | 6/30/18
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.
At June 30, 2018, 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 pricing
model).
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, asset-backed securities
and corporate bonds 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 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. 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, 2018, 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.
Pioneer Bond Fund | Annual Report | 6/30/18 109
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, 2018, the Fund reclassified $12,179,837 to increase
undistributed net investment income and $12,179,837 to increase
accumulated net realized loss on investments to reflect permanent book/tax
differences. These adjustments have no impact on net assets or the results
of operations.
At June 30, 2018, the Fund was permitted to carry forward indefinitely
$10,473,300 of short-term losses and $5,062,126 of long-term losses under
the Regulated Investment Company Modernization Act of 2010 without
limitation.
Included in these amounts are $911,824 of short-term losses and
$6,019,010 of long-term losses which, as a result of the reorganization
with Pioneer Government Income Fund on March 18, 2016 may be subject to
limitations imposed by the Internal Revenue Code. Since unlimited losses
are required to be used first, loss carryforwards that are subject to
expiration may be more likely to expire unused.
The tax character of distributions paid during the years ended
June 30, 2018 and June 30, 2017 were as follows:
---------------------------------------------------------------------------
2018 2017
---------------------------------------------------------------------------
Distributions paid from:
Ordinary income $ 151,100,741 $ 132,660,990
---------------------------------------------------------------------------
Total $ 151,100,741 $ 132,660,990
===========================================================================
The following shows the components of distributable earnings on a
federal income tax basis at June 30, 2018:
---------------------------------------------------------------------------
2018
---------------------------------------------------------------------------
Distributable earnings:
Undistributed ordinary income $ 13,924,346
Capital Loss Carryforward (14,858,738)
Capital Loss Carryforward Limited (676,688)
Current year dividends payable (2,499,401)
Net unrealized depreciation (105,459,327)
---------------------------------------------------------------------------
Total $ (109,569,808)
===========================================================================
110 Pioneer Bond Fund | Annual Report | 6/30/18
The difference between book-basis and tax-basis net unrealized
appreciation is attributable to the tax deferral of losses on wash sales,
adjustments relating to catastrophe bonds, the tax treatment of premium
and amortization and the mark-to-market of futures and swap contracts.
D. Fund Shares
The Fund records sales and repurchases of its shares as of trade date.
The Distributor earned $42,193 in underwriting commissions on the sale of
Class A shares during the year ended June 30, 2018.
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, Class C, and Class R shares of the Fund,
respectively (see Note 4). 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 3).
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, Class K, Class R and
Class Y shares can reflect different transfer agent and distribution
expense rates.
F. 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,
inflation, changes in interest rates, 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.
Pioneer Bond Fund | Annual Report | 6/30/18 111
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 prospectus
contains unaudited information regarding the Fund's principal risks.
Please refer to that document when considering the Fund's principal risks.
Interest rates in the U.S. recently have been historically low, so the
Fund faces a heightened risk that interest rates may continue to rise. 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.
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 Brown Brothers Harriman & Co., the Fund's custodian and
accounting agent, and DST Asset Manager Solutions, Inc., 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 Amundi
Pioneer 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 Amundi Pioneer 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 or receive distributions, loss of or unauthorized access to
private shareowners 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.
G. Insurance-Linked Securities ("ILS")
The Fund invests in event-linked bonds. Event-linked bonds are floating
rate debt obligations for which the return of principal and the payment of
interest are contingent on the non-occurrence of a pre-defined "trigger"
event, such as a hurricane or an earthquake of a specific magnitude. The
trigger event's
112 Pioneer Bond Fund | Annual Report | 6/30/18
magnitude may be based on losses to a company or industry, industry
indexes or readings of scientific instruments, or may be based on
specified actual losses. If a trigger event occurs, as defined within the
terms of an event-linked bond, the Fund may lose a portion or all of its
accrued interest and/or principal invested in such event-linked bond. The
Fund is entitled to receive principal and interest payments so long as no
trigger event occurs of the description and magnitude specified by the
instrument. In addition to the specified trigger events, event-linked
bonds 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 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.
Structured reinsurance investments, including quota share instruments,
collateralized reinsurance investments and ILWs, generally are subject to
the same risks as event-linked bonds. In addition, where the instruments
are based on the performance of underlying reinsurance contracts, the Fund
has limited transparency into the individual underlying contracts, and
therefore must rely upon the risk assessment and sound underwriting
practices of the issuer. Accordingly, it may be more difficult for the
Adviser to fully evaluate the underlying risk profile of the Fund's
structured reinsurance investments, and therefore the Fund's assets are
placed at greater risk of loss than if the Adviser had more complete
information. Structured reinsurance instruments generally will be
considered illiquid securities by the Fund. These securities may be
difficult to purchase, sell or unwind. Illiquid securities also may be
difficult to value. If the Fund is forced to sell an illiquid asset, the
Fund may be forced to sell at a loss.
H. 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. All futures contracts entered into by the Fund are traded on
a futures exchange. Upon entering into a futures contract, the Fund is
required to deposit with a broker an amount of cash or securities equal to
the minimum
Pioneer Bond Fund | Annual Report | 6/30/18 113
"initial margin" requirements of the associated futures exchange. The
amount of cash deposited with the broker as collateral at June 30, 2018,
is recorded as "Futures collateral" on the Statement of Assets and
Liabilities.
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
minimal 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. The
average market value of contracts open during the year ended June 30,
2018, was $(172,579,744). Open futures contracts outstanding at June 30,
2018 are listed in the Schedule of Investments.
I. 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 as of June 30, 2018 are
disclosed in the Fund's Schedule of Investments.
114 Pioneer Bond Fund | Annual Report | 6/30/18
J. 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 on 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
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.
Pioneer Bond Fund | Annual Report | 6/30/18 115
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 swaps" 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,
2018, 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, 2018 was $(4,949,316). Open credit default swap
contracts at June 30, 2018 are listed in the Schedule of Investments.
2. Management Agreement
The Adviser manages the Fund's portfolio. Management fees are calculated daily
at the annual rate of 0.40% of the Fund's average daily net assets. For the year
ended June 30, 2018, the effective management fee (excluding waivers and/or
assumption of expenses) was equivalent to 0.40% of the Fund's average daily net
assets.
The Adviser has contractually agreed to limit ordinary operating expenses
(ordinary operating expenses means all fund expenses other than extraordinary
expenses, such as litigation, taxes, brokerage commissions and acquired fund
fees and expenses) of the Fund to the extent required to reduce Fund expenses to
0.85%, 1.10%, and 0.58% of the average daily net assets attributable to Class A,
Class R and Class Y shares, respectively. Fees waived and expenses reimbursed
during the year ended June 30, 2018 are reflected on the Statement of
Operations. These expense limitations are in effect through November 1, 2019.
There can be no assurance that the Adviser will extend the expense limitation
agreement for a class of shares beyond the date referred to above.
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
$353,613 in management fees, administrative costs and certain other
reimbursements payable to the Adviser at June 30, 2018.
116 Pioneer Bond Fund | Annual Report | 6/30/18
3. Transfer Agent
DST Asset Manager Solutions, 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, 2018, such out-of-pocket expenses by class of shares were as
follows:
--------------------------------------------------------------------------------
Shareholder Communications
--------------------------------------------------------------------------------
Class A $ 116,070
Class C 13,116
Class K 16,703
Class R 2,883
Class Y 155,283
--------------------------------------------------------------------------------
Total $ 304,055
================================================================================
4. 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
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 also 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 $48,400 in distribution fees payable to the Distributor at June
30, 2018.
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.
Pioneer Bond Fund | Annual Report | 6/30/18 117
In addition, redemptions of each class of shares (except Class K, Class R and
Class Y 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 or Class Y shares. Proceeds
from the CDSCs are paid to the Distributor. For the year ended June 30, 2018,
CDSCs in the amount of $6,433 were paid to the Distributor.
5. Line of Credit Facility
The Fund, along with certain other funds in the Pioneer Family of Funds (the
"Funds"), participates in a committed, unsecured revolving line of 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 facility or
the limits set for borrowing by the Fund's prospectus and the 1940 Act. The Fund
participated in a credit facility that was in the amount of $195 million.
Effective August 1, 2018 the Fund participates in a credit facility that is in
the amount of $250 million. Under such facility, depending on the type of loan,
interest on borrowings is payable at the London Interbank Offered Rate ("LIBOR")
plus 0.85% on an annualized basis, or the Alternate Base Rate, which is the
greater of (a) the facility's administrative agent's daily announced prime rate
on the borrowing date, (b) 2% plus the Federal Funds Rate on the borrowing date,
or (c) 2% plus the overnight Eurodollar rate on the borrowing date. The Funds
pay an annual commitment fee to participate in a credit facility. The commitment
fee is allocated among participating Funds based on an allocation schedule set
forth in the credit agreement. For the year ended June 30, 2018, the Fund had no
borrowings under the credit facility.
6. Assets and Liabilities Offsetting
The Fund has entered into an International Swaps and Derivatives Association,
Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with
substantially all its derivative counterparties. An ISDA Master Agreement is a
bilateral agreement between the Fund and a counterparty that governs the trading
of certain Over the Counter ("OTC") derivatives and typically contains, among
other things, close-out and set-off provisions which apply upon the occurrence
of an event of default and/or a termination event as defined under the relevant
ISDA Master Agreement. The ISDA Master Agreement may also give a party the right
to terminate all transactions traded under such agreement if, among other
things, there is deterioration in the credit quality of the other party.
118 Pioneer Bond Fund | Annual Report | 6/30/18
Upon an event of default or a termination of the ISDA Master Agreement, the
non-defaulting party has the right to close out all transactions under such
agreement and to net amounts owed under each transaction to determine one net
amount payable by one party to the other. The right to close out and net
payments across all transactions under the ISDA Master Agreement could result in
a reduction of the Fund's credit risk to its counterparty equal to any amounts
payable by the Fund under the applicable transactions, if any. However, the
Fund's right to setoff may be restricted or prohibited by the bankruptcy or
insolvency laws of the particular jurisdiction to which each specific ISDA of
each counterparty is subject.
The collateral requirements for derivatives transactions under an ISDA Master
Agreement are governed by a credit support annex to the ISDA Master Agreement.
Collateral requirements are generally determined at the close of business each
day and are typically based on changes in market values for each transaction
under an ISDA Master Agreement and netted into one amount for such agreement.
Generally, the amount of collateral due from or to a counterparty is subject to
threshold (a "minimum transfer amount") before a transfer is required, which may
vary by counterparty. Collateral pledged for the benefit of the Fund and/or
counterparty is held in segregated accounts by the Fund's custodian and cannot
be sold, re-pledged, assigned or otherwise used while pledged. Cash that has
been segregated to cover the Fund's collateral obligations, if any, will be
reported separately on the Statement of Assets and Liabilities as "Swaps
collateral". Securities pledged by the Fund as collateral, if any, are
identified as such in the Schedule of Investments.
Financial instruments subject to an enforceable master netting agreement such as
an ISDA Master Agreement have been offset on the Statement of Assets and
Liabilities. The following charts show gross assets and liabilities of the Fund
as of June 30, 2018.
--------------------------------------------------------------------------------------------------------
Derivative Assets Derivatives Non-Cash Cash Net Amount
Subject to Master Available for Collateral Collateral of Derivative
Counterparty Netting Agreement Offset Received (a) Received (a) Assets (b)
--------------------------------------------------------------------------------------------------------
JPMorgan Chase
Bank NA $ 154,887 $ -- $ -- $ -- $ 154,887
--------------------------------------------------------------------------------------------------------
Total $ 154,887 $ -- $ -- $ -- $ 154,887
========================================================================================================
--------------------------------------------------------------------------------------------------------
Derivative Liabilities Derivatives Non-Cash Cash Net Amount
Subject to Master Available for Collateral Collateral of Derivative
Counterparty Netting Agreement Offset Pledged (a) Pledged (a) Liabilities (c)
--------------------------------------------------------------------------------------------------------
JPMorgan Chase
Bank NA $ -- $ -- $ -- $ -- $ --
--------------------------------------------------------------------------------------------------------
Total $ -- $ -- $ -- $ -- $ --
========================================================================================================
(a) The amount presented here may be less than the total amount of
collateral received/pledged as the net amount of derivative assets and
liabilities cannot be less than $0.
(b) Represents the net amount due from the counterparty in the event of
default.
(c) Represents the net amount payable to the counterparty in the event of
default.
Pioneer Bond Fund | Annual Report | 6/30/18 119
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.
The fair value of open derivative instruments (not considered to be hedging
instruments for accounting disclosure purposes) by risk exposure at June 30,
2018 was as follows:
--------------------------------------------------------------------------------------------------
Foreign
Statement of Assets Interest Credit Exchange Equity Commodity
and Liabilities Rate Risk Risk Rate Risk Risk Risk
--------------------------------------------------------------------------------------------------
Liabilities:
Net unrealized
depreciation on
futures contracts $ 2,321,682 $ -- $ -- $ -- $ --
Swap contracts, at value -- 4,703,123 -- -- --
--------------------------------------------------------------------------------------------------
Total Value $ 2,321,682 $ 4,703,123 $ -- $ -- $ --
==================================================================================================
120 Pioneer Bond Fund | Annual Report | 6/30/18
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, 2018 was as follows:
--------------------------------------------------------------------------------------------------
Foreign
Interest Credit Exchange Equity Commodity
Statement of Operations Rate Risk Risk Rate Risk Risk Risk
--------------------------------------------------------------------------------------------------
Net realized gain (loss) on:
Futures contracts $ 20,531,791 $ -- $ -- $ -- $ --
Swap contracts -- (2,014,273) -- -- --
--------------------------------------------------------------------------------------------------
Total Value $ 20,531,791 $ (2,014,273) $ -- $ -- $ --
==================================================================================================
Change in net
unrealized appreciation
(depreciation) on:
Futures contracts $ (5,171,993) $ -- $ -- $ -- $ --
Swap contracts -- 126,180 -- -- --
--------------------------------------------------------------------------------------------------
Total Value $ (5,171,993) $ 126,180 $ -- $ -- $ --
==================================================================================================
8. Unfunded Loan Commitments
The Fund may enter into unfunded loan commitments. Unfunded loan commitments may
be partially or wholly unfunded. During the contractual period, the Fund is
obliged to provide funding to the borrower upon demand. A fee is earned by the
Fund on the unfunded commitment and is recorded as interest income on the
Statement of Operations.
As of June 30, 2018, the Fund had the following unfunded loan commitments
outstanding:
--------------------------------------------------------------------------------------------
Unrealized
Appreciation/
Loan Principal Cost Value (Depreciation)
--------------------------------------------------------------------------------------------
Gentiva Health Services, Inc. $ 158,177 $ 156,595 $ 158,572 $ 1,977
GFLl Environmental, Inc. 106,630 106,630 106,097 (533)
--------------------------------------------------------------------------------------------
Total Value $ 264,807 $ 263,225 $ 264,669 $ 1,444
============================================================================================
Pioneer Bond Fund | Annual Report | 6/30/18 121
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and the Shareowners 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,
2018, and the related statements of operations, changes in net assets and the
financial highlights for the year then ended and the related notes and the
statement of changes in net assets and financial highlights for the year ended
June 30, 2017 (collectively referred to as the "financial statements"). The
financial highlights for periods ended June 30, 2014, June 30, 2015 and June 30,
2016 were audited by another independent registered public accounting firm whose
report, dated August 25, 2016, expressed an unqualified opinion on those
financial highlights. In our opinion, the financial statements present fairly,
in all material respects, the financial position of the Fund at June 30, 2018,
the results of its operations, the changes in its net assets, and the financial
highlights for the year ended and the statement of changes in net assets and
financial highlights for the year ended June 30, 2017, 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 audit 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.
122 Pioneer Bond Fund | Annual Report | 6/30/18
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 including
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, 2018, by correspondence with the custodian and brokers. 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 audit provides a reasonable basis
for our opinion.
/s/ Ernst & Young LLP
Boston, Massachusetts
We have served as the Fund's auditor since 2017.
August 24, 2018
Pioneer Bond Fund | Annual Report | 6/30/18 123
ADDITIONAL INFORMATION
Change in Independent Registered Public Accounting Firm
Prior to July 3, 2017 Pioneer Investment Management, Inc. (the "Adviser"), the
Fund's investment adviser, was an indirect, wholly owned subsidiary of UniCredit
S.p.A. ("UniCredit"). On that date, UniCredit completed the sale of its Pioneer
Investments business, which includes the Adviser, to Amundi (the "Transaction").
As a result of the Transaction, the Adviser became an indirect, wholly owned
subsidiary of Amundi. Amundi is controlled by Credit Agricole S.A. Amundi is
headquartered in Paris, France, and, as of September 30, 2016, had more than
$1.1 trillion in assets under management worldwide.
Deloitte & Touche LLP ("D&T"), the Fund's previous independent registered public
accounting firm, informed the Audit Committee and the Board that it would no
longer be independent with respect to the Fund upon the completion of the
Transaction as a result of certain services being provided to Amundi and Credit
Agricole, and, accordingly, that it intended to resign as the Fund's independent
registered public accounting firm upon the completion of the Transaction. D&T's
resignation was effective on July 3, 2017, when the Transaction was completed.
During the periods as to which D&T has served as the Fund's independent
registered public accounting firm, D&T's reports on the Fund's financial
statements have not contained an adverse opinion or disclaimer of opinion and
have not been qualified or modified as to uncertainty, audit scope or accounting
principles. Further, there have been no disagreements with D&T on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which, if not resolved to the satisfaction of D&T, would
have caused D&T to make reference to the subject matter of the disagreement in
connection with its report on the financial statements. In addition, there have
been no reportable events of the kind described in Item 304(a)(1)(v) of
Regulation S-K under the Securities Exchange Act of 1934.
Effective immediately following the completion of the Transaction on July 3,
2017, the Board, acting upon the recommendation of the Audit Committee, engaged
an independent registered public accounting firm, Ernst & Young LLP ("EY").
Prior to its engagement, EY had advised the Fund's Audit Committee that EY had
identified the following matters, in each case relating to services rendered by
other member firms of Ernst & Young Global Limited, all of which are located
outside the United States, to UniCredit and certain of its subsidiaries during
the period commencing July 1, 2016, that it determined to be
124 Pioneer Bond Fund | Annual Report | 6/30/18
inconsistent with the auditor independence rules set forth by the Securities and
Exchange Commission ("SEC"): (a) project management support services to
UniCredit in the Czech Republic, Germany, Italy, Serbia and Slovenia in relation
to twenty-two projects, that were determined to be inconsistent with Rule
2-01(c)(4)(vi) of Regulation S-X (management functions); (b) two engagements for
UniCredit in Italy where fees were contingent/success based and that were
determined to be inconsistent with Rule 2-01(c)(5) of Regulation S-X (contingent
fees); (c) four engagements where legal and expert services were provided to
UniCredit in the Czech Republic and Germany, and twenty engagements where the
legal advisory services were provided to UniCredit in Austria, Czech Republic,
Italy and Poland, that were determined to be inconsistent with Rule
2-01(c)(4)(ix) and (x) of Regulation S-X (legal and expert services); and (d)
two engagements for UniCredit in Italy involving assistance in the sale of
certain assets, that were determined to be inconsistent with Rule
2-01(c)(4)(viii) of Regulation S-X (broker-dealer, investment adviser or
investment banking services). None of the foregoing services involved the Fund,
any of the other funds in the Pioneer Family of Funds or any other Pioneer
entity sold by UniCredit in the Transaction.
EY advised the Audit Committee that it had considered the matters described
above and had concluded that such matters would not impair EY's ability to
exercise objective and impartial judgment in connection with the audits of the
financial statements of the Fund under the SEC and Public Company Accounting
Oversight Board independence rules, and that a reasonable investor with
knowledge of all relevant facts and circumstances would reach the same
conclusion. Management and the Audit Committee considered these matters and
discussed the matters with EY and, based upon EY's description of the matters
and statements made by EY, Management and the Audit Committee believe that EY
will be capable of exercising objective and impartial judgment in connection
with the audits of the financial statements of the Fund, and Management further
believes that a reasonable investor with knowledge of all relevant facts and
circumstances would reach the same conclusion.
Pioneer Bond Fund | Annual Report | 6/30/18 125
Trustees, Officers and Service Providers
Investment Adviser
Amundi Pioneer Asset Management, Inc.
Custodian and Sub-Administrator
Brown Brothers Harriman & Co.
Independent Registered Public Accounting Firm
Ernst & Young LLP
Principal Underwriter
Amundi Pioneer Distributor, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Shareowner Services and Transfer Agent
DST Asset Manager Solutions, 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.amundipioneer.com. 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 44 U.S. registered investment
portfolios for which Amundi Pioneer 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.
126 Pioneer Bond Fund | Annual Report | 6/30/18
Independent Trustees
------------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Thomas J. Perna (67) Trustee since 2006. Private investor (2004 - 2008 and 2013 - Director, Broadridge Financial
Chairman of the Board Serves until a present); Chairman (2008 - 2013) and Chief Solutions, Inc. (investor
and Trustee successor trustee is Executive Officer (2008 - 2012), Quadriserv, communications and securities
elected or earlier Inc. (technology products for securities processing provider for
retirement or lending industry); and Senior Executive Vice financial services industry)
removal. President, The Bank of New York (financial and (2009 - present); Director,
securities services) (1986 - 2004) Quadriserv, Inc. (2005 -
2013); and Commissioner, New
Jersey State Civil Service
Commission (2011 - 2015)
------------------------------------------------------------------------------------------------------------------------------------
David R. Bock (74) Trustee since 2005. Managing Partner, Federal City Capital Director of New York Mortgage
Trustee Serves until a Advisors (corporate advisory services company) Trust (publicly-traded
successor trustee is (1997 - 2004 and 2008 - present); Interim mortgage REIT) (2004 - 2009,
elected or earlier Chief Executive Officer, Oxford Analytica, 2012 - present); Director of
retirement or Inc. (privately held research and consulting The Swiss Helvetia Fund, Inc.
removal. company) (2010); Executive Vice President and (closed-end fund) (2010 -
Chief Financial Officer, I-trax, Inc. 2017); Director of Oxford
(publicly traded health care services company) Analytica, Inc. (2008 -
(2004 - 2007); and Executive Vice President present); and Director of
and Chief Financial Officer, Pedestal Inc. Enterprise Community
(internet-based mortgage trading company) Investment, Inc.
(2000 - 2002); Private Consultant (1995 - (privately-held affordable
1997); Managing Director, Lehman Brothers housing finance company) (1985
(1992 - 1995); and Executive, The World Bank - 2010)
(1979 - 1992)
------------------------------------------------------------------------------------------------------------------------------------
Benjamin M. Friedman (73) Trustee since 2008. William Joseph Maier Professor of Political Trustee, Mellon Institutional
Trustee Serves until a Economy, Harvard University (1972 - present) Funds Investment Trust and
successor trustee is Mellon Institutional Funds
elected or earlier Master Portfolio (oversaw 17
retirement or portfolios in fund complex)
removal. (1989 - 2008)
------------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/18 127
Interested Trustees
------------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Margaret B.W. Graham (71) Trustee since 1996. Founding Director, Vice-President and None
Trustee Serves until a Corporate Secretary, The Winthrop Group, Inc.
successor trustee is (consulting firm) (1982 - present); Desautels
elected or earlier Faculty of Management, McGill University (1999
retirement or - 2017); and Manager of Research Operations
removal. and Organizational Learning, Xerox PARC,
Xerox's advance research center (1990-1994)
------------------------------------------------------------------------------------------------------------------------------------
Lorraine H. Monchak (62) Trustee since 2017. Chief Investment Officer, 1199 SEIU Funds None
Trustee (Advisory Trustee (healthcare workers union pension funds) (2001
from 2014 - 2017) - present); Vice President - International
Serves until a Investments Group, American International
successor trustee is Group, Inc. (insurance company) (1993 - 2001);
elected or earlier Vice President - Corporate Finance and
retirement or Treasury Group, Citibank, N.A. (1980 - 1986
removal. and 1990 - 1993); Vice President -
Asset/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);
and Mortgage Strategies Group, Drexel Burnham
Lambert, Ltd. (investment bank) (1986 - 1987)
------------------------------------------------------------------------------------------------------------------------------------
Marguerite A. Piret (70) Trustee since 1996. President and Chief Executive Officer, Newbury Director of New America High
Trustee Serves until a Piret Company (investment banking firm) (1981 Income Fund, Inc. (closed-end
successor trustee is - present) investment company) (2004 -
elected or earlier present); and Member, Board of
retirement or Governors, Investment Company
removal. Institute (2000 - 2006)
------------------------------------------------------------------------------------------------------------------------------------
Fred J. Ricciardi (71) Trustee since 2014. Consultant (investment company services) (2012 None
Trustee Serves until a - present); Executive Vice President, BNY
successor trustee is Mellon (financial and investment company
elected or earlier services) (1969 - 2012); Director, BNY
retirement or International Financing Corp. (financial
removal. services) (2002 - 2012); and Director, Mellon
Overseas Investment Corp. (financial services)
(2009 - 2012)
------------------------------------------------------------------------------------------------------------------------------------
128 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Lisa M. Jones (56)* Trustee since 2017. Director, CEO and President of Amundi Pioneer None
Trustee, President and Serves until a Asset Management USA, Inc. (since September
Chief Executive Officer successor trustee is 2014); Director, CEO and President of Amundi
elected or earlier Pioneer Asset Management, Inc. (since
retirement or September 2014); Director, CEO and President
removal of Amundi Pioneer Distributor, Inc. (since
September 2014); Director, CEO and President
of Amundi Pioneer Institutional Asset
Management, Inc. (since September 2014);
Chair, Amundi Pioneer Asset Management USA,
Inc., Amundi Pioneer Distributor, Inc. and
Amundi Pioneer Institutional Asset Management,
Inc. (September 2014 - 2018); Managing
Director, Morgan Stanley Investment Management
(2010 - 2013); and Director of Institutional
Business, CEO of International, Eaton Vance
Management (2005 - 2010)
------------------------------------------------------------------------------------------------------------------------------------
Kenneth J. Taubes (60)* Trustee since 2014. Director and Executive Vice President (since None
Trustee Serves until a 2008), and Chief Investment Officer, U.S.
successor trustee is (since 2010) of Amundi Pioneer Asset
elected or earlier Management USA, Inc.; Executive Vice President
retirement or and Chief Investment Officer, U.S. of Amundi
removal Pioneer (since 2008); Executive Vice President
of Amundi Pioneer Institutional Asset
Management, Inc. (since 2009); and Portfolio
Manager of Amundi Pioneer (since 1999)
------------------------------------------------------------------------------------------------------------------------------------
* 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 | 6/30/18 129
Fund Officers
------------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Christopher J. Kelley (53) Since 2010. Serves Vice President and Associate General Counsel None
Secretary and Chief Legal at the discretion of of Amundi Pioneer since January 2008;
Officer the Board Secretary and Chief Legal Officer of all of
the Pioneer Funds since June 2010; Assistant
Secretary of all of the Pioneer Funds from
September 2003 to May 2010; and Vice President
and Senior Counsel of Amundi Pioneer from July
2002 to December 2007
------------------------------------------------------------------------------------------------------------------------------------
Carol B. Hannigan (57) Since 2010. Serves Fund Governance Director of Amundi Pioneer None
Assistant Secretary at the discretion of since December 2006 and Assistant Secretary of
the Board all the Pioneer Funds since June 2010; Manager
- Fund Governance of Amundi Pioneer from
December 2003 to November 2006; and Senior
Paralegal of Amundi Pioneer from January 2000
to November 2003
------------------------------------------------------------------------------------------------------------------------------------
Thomas Reyes (55) Since 2010. Serves Senior Counsel of Amundi Pioneer since May None
Assistant Secretary at the discretion of 2013 and Assistant Secretary of all the
the Board Pioneer Funds since June 2010; and Counsel of
Amundi Pioneer from June 2007 to May 2013
------------------------------------------------------------------------------------------------------------------------------------
Mark E. Bradley (58) Since 2008. Serves Vice President - Fund Treasury of Amundi None
Treasurer and Chief at the discretion of Pioneer; Treasurer of all of the Pioneer Funds
Financial and Accounting the Board since March 2008; Deputy Treasurer of Amundi
Officer Pioneer from March 2004 to February 2008; and
Assistant Treasurer of all of the Pioneer
Funds from March 2004 to February 2008
------------------------------------------------------------------------------------------------------------------------------------
Luis I. Presutti (53) Since 2000. Serves Director - Fund Treasury of Amundi Pioneer; None
Assistant Treasurer at the discretion of and Assistant Treasurer of all of the Pioneer
the Board Funds
------------------------------------------------------------------------------------------------------------------------------------
Gary Sullivan (60) Since 2002. Serves Senior Manager - Fund Treasury of Amundi None
Assistant Treasurer at the discretion of Pioneer; and Assistant Treasurer of all of the
the Board Pioneer Funds
------------------------------------------------------------------------------------------------------------------------------------
David F. Johnson (38) Since 2009. Serves Senior Manager - Fund Treasury of Amundi None
Assistant Treasurer at the discretion of Pioneer since November 2008; Assistant
the Board Treasurer of all of the Pioneer Funds since
January 2009; and Client Service Manager -
Institutional Investor Services at State
Street Bank from March 2003 to March 2007
------------------------------------------------------------------------------------------------------------------------------------
130 Pioneer Bond Fund | Annual Report | 6/30/18
------------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Jean M. Bradley (65) Since 2010. Serves Chief Compliance Officer of Amundi Pioneer and None
Chief Compliance Officer at the discretion of of all the Pioneer Funds since March 2010;
the Board Chief Compliance Officer of Amundi Pioneer
Institutional Asset Management, Inc. since
January 2012; Chief Compliance Officer of
Vanderbilt Capital Advisors, LLC since July
2012: Director of Adviser and Portfolio
Compliance at Amundi Pioneer since October
2005; and Senior Compliance Officer for
Columbia Management Advisers, Inc. from
October 2003 to October 2005
------------------------------------------------------------------------------------------------------------------------------------
Kelly O'Donnell (47) Since 2006. Serves Vice President - Investor Services Group of None
Anti-Money at the discretion of Amundi Pioneer and Anti-Money Laundering
Laundering Officer the Board Officer of all the Pioneer Funds since 2006
------------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/18 131
This page is for your notes.
132 Pioneer Bond Fund | Annual Report | 6/30/18
How to Contact Amundi Pioneer
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
FactFone(SM) for automated fund yields, prices,
account information and transactions 1-800-225-4321
Retirement plans information 1-800-622-0176
Write to us:
--------------------------------------------------------------------------------
Amundi Pioneer
P.O. Box 55014
Boston, Massachusetts 02205-5014
Our toll-free fax 1-800-225-4240
Our internet e-mail address us.askamundipioneer@amundipioneer.com
(for general questions about Amundi Pioneer only)
Visit our web site: www.amundipioneer.com
This report must be preceded or accompanied by a prospectus.
The Fund files a complete schedule of investments with the Securities and
Exchange Commission for the first and third quarters for each fiscal year on
Form N-Q. Shareholders may view the filed Form N-Q by visiting the Commission's
web site at http://www.sec.gov. The filed form may also be viewed and copied at
the Commission's Public Reference Room in Washington, DC. Information regarding
the operations of the Public Reference Room may be obtained by calling
1-800-SEC-0330.
[LOGO] Amundi Pioneer
==============
ASSET MANAGEMENT
Amundi Pioneer Asset Management, Inc.
60 State Street
Boston, MA 02109
www.amundipioneer.com
Securities offered through Amundi Pioneer Distributor, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
(C) 2018 Amundi Pioneer Asset Management 19398-12-0818
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)).
Ms. Marguerite A. Piret, 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 was $60,000
payable to Ernst & Young LLP for the year ended
June 30, 2018 and $45,000 payable
for the year ended June 30, 2018.
(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 2018 or 2017.
(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 tax fees for the Fund were $17,197
payable to Ernst & Young LLP for the year ended
June 30, 2018 and $10,115
for the year ended June 30, 2017.
(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 2018 or 2017.
(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 Amudi Pioneer Asset Management, 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 SERVICE CATEGORY DESCRIPTION SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
CATEGORY
---------------- -------------------------------- -------------------------------------------------
I. AUDIT Services that are directly o Accounting research assistance
SERVICES 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. Services which are not o AICPA attest and agreed-upon procedures
AUDIT-RELATED prohibited under Rule o Technology control assessments
SERVICES 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 SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
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 SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
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 SPECIFIC PROHIBITED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- ------------------------- -----------------------------------------------
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 2018 and 2017, 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 aggregate non-audit fees for the Fund were $17,197
payable to Ernst & Young LLP for the year ended
June 30, 2018 and $10,115 for the year ended
June 30, 2017.
(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 second fiscal quarter of 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 second
fiscal quarter of 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.
The registrant's principal executive officer and principal financial
officer, however, voluntarily are reporting the following information:
In August of 2006 the registrant's investment adviser
enhanced its internal procedures for reporting performance
information required to be included in prospectuses.
Those enhancements involved additional internal controls
over the appropriateness of performance data
generated for this purpose. Such enhancements were made
following an internal review which identified
prospectuses relating to certain classes of shares of
a limited number of registrants where, inadvertently,
performance information not reflecting the deduction of
applicable sales charges was included. Those prospectuses
were revised, and the revised prospectuses were distributed to
shareholders.
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 & Chief Executive Officer
Date August 29, 2018
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 & Chief Executive Officer
Date August 29, 2018
By (Signature and Title)* /s/ Mark E. Bradley
Mark E. Bradley, Treasurer & Chief Accounting & Financial Officer
Date August 29, 2018
* Print the name and title of each signing officer under his or her signature.