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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, Pioneer Investment 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, 2015 through June 30, 2016
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
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Annual Report | June 30, 2016
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Ticker Symbols:
Class A PIOBX
Class C PCYBX
Class K PBFKX
Class R PBFRX
Class Y PICYX
[LOGO] PIONEER
Investments(R)
visit us: us.pioneerinvestments.com
Table of Contents
President's Letter 2
Portfolio Management Discussion 4
Portfolio Summary 11
Prices and Distributions 12
Performance Update 13
Comparing Ongoing Fund Expenses 18
Schedule of Investments 20
Financial Statements 92
Notes to Financial Statements 101
Report of Independent Registered Public Accounting Firm 116
Trustees, Officers and Service Providers 118
Pioneer Bond Fund | Annual Report | 6/30/16 1
President's Letter
Dear Shareowner,
The first half of 2016 has featured some remarkable twists and turns in the
global economy. The year began on shaky footing as surging market volatility
brought about by fears of weaker global economic growth as well as falling oil
prices depressed returns for investors. In the US, both equity and fixed-income
markets declined significantly through the first six weeks of the year, only to
recover the losses by the end of the first quarter when market sentiment
shifted, due in part to accommodative monetary policies from the world's central
banks.
Midway through the first quarter, for example, the US Federal Reserve System
(the Fed) backed off plans to raise interest rates four times in 2016, and the
European Central Bank announced a more comprehensive asset-purchasing program in
the hopes of encouraging lending, and boosting both inflation and economic
growth. The markets responded with a solid rally. By the end of May, in fact, US
equities, as measured by the Standard & Poor's 500 Index, had generated a solid
year-to-date (YTD) return of 3.55%, and the YTD return (as of 5/31/16) of the
Barclays Aggregate Bond Index, a common measure of the US fixed-income market,
was 3.45%.
As markets began to settle down, the Brexit vote - the vote confirming that the
United Kingdom (UK) would exit the European Union (EU) - surprised many, and the
rollercoaster ride began once again. The market sold off sharply in the first
few days after the vote, then rallied as investors sought bargains created by
the initial post-Brexit sell-off, and as more, less ominous information about
the implications of the Brexit results came to light.
From a macroeconomic perspective, Pioneer believes the negative economic impact
of Brexit on the US should be more limited compared with its effects on the UK
and Europe. However, we expect reduced global demand due to a higher level of
uncertainty and risk aversion among investors. While the spillover effects on
the US economy are unclear, we think it possible that, in the event of a
significant negative economic impact, the Fed might consider other monetary
policy options. Globally, we believe that central banks are ready to act and
that their initial focus will be to stabilize the markets and provide liquidity,
if needed.
While the Brexit vote is now official, the expectation is that the actual
process of separating the UK from the EU could take at least two years. Only in
the next several months may we begin to see signs of what path Europe will
follow as it adapts to the reality of an EU without one of its most prominent
members. Over the medium-term, however, we believe uncertainties over the future
of Europe and central banks' reactions will likely dominate financial markets,
and we believe the news flow surrounding Brexit will continue to weigh on
riskier assets. Competing for headlines, too, is the current financial condition
of many European banks. Ultimately, we think that the political and monetary
policy responses will be the major variables when it comes to managing an
orderly
2 Pioneer Bond Fund | Annual Report | 6/30/16
Brexit. In addition, as the second half of 2016 gets underway, we continue to
see central bank policies as generally supportive of the US economy -- for which
we maintain an expectation of modest growth this year.
Aside from the Brexit-caused uncertainties, economies around the world in both
developed and emerging markets are experiencing deep structural changes. Current
challenges include incomplete debt deleveraging in both emerging and developed
markets, where debt levels continue to grow, the transition of many emerging
markets economies from export/investment-driven models to more domestic
demand-driven models, and aging populations, which are reducing productivity and
limiting economic growth potential (primarily in the developed markets but also
in emerging markets such as China). Geopolitical instability on many fronts, the
rising risk of policy mistakes, and market liquidity issues combine to increase
the possibility of sharp swings in asset values. Meanwhile, in the US, as always
in a presidential election year, the political rhetoric of 2016 has the
potential to impact domestic sectors such as health care.
Throughout Pioneer's history, we have believed in the importance of active
management. During periods of market volatility, we view the value of active
management as even more compelling. Our experienced and tenured investment teams
focus on identifying value across global markets using proprietary research,
careful risk management, and a long-term perspective. We believe our shareowners
can benefit from the experience and tenure of our investment teams as well as
the insights generated from our extensive research process.
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.
Sincerely,
/s/ Lisa M. Jones
Lisa M. Jones
President and CEO
Pioneer Investment Management USA Inc.
June 30, 2016
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 | 6/30/16 3
Portfolio Management Discussion | 6/30/16
Credit-sensitive debt struggled early in the 12-month period ended June 30,
2016, before staging a brisk rally over the final few months. In what was an
atypical period for the fixed-income markets, Treasuries and other high-quality
securities also delivered lackluster returns early in the period as rising
interest rates undermined prices, but then recovered in the second half as
market interest rates fell and bond prices rose. In the following interview,
Kenneth J. Taubes and Charles Melchreit review the factors that affected the
performance of Pioneer Bond Fund during the 12-month period ended June 30, 2016.
Mr. Taubes, Executive Vice President, Chief Investment Officer, U.S., and a
portfolio manager at Pioneer Investments, is responsible for the daily
management of the Fund, along with Mr. Melchreit, Director of Investment-Grade
Management, a senior vice president, and a portfolio manager at Pioneer.
Q How did the Fund perform during the 12-month period ended June 30, 2016?
A Pioneer Bond Fund's Class A shares returned 3.93% at net asset value during
the 12-month period ended June 30, 2016, while the Fund's benchmark, the
Barclays Aggregate Bond Index (the Barclays Index), returned 6.00%. During
the same period, the average return of the 46 mutual funds in Lipper's
Corporate Debt, A-rated Underlying Funds Category was 6.77%, and the
average return of the 1,061 mutual funds in Morningstar's Intermediate-Term
Bond Funds Category was 4.63%.
Q How would you describe the investment environment during the 12 months
ended 2016?
A The environment for investing in fixed-income securities changed
dramatically over the course of the 12-month period. Falling oil and
commodity prices, fears of an economic slowdown, and concerns that that the
US Federal Reserve (Fed) would become less accommodative and act
aggressively to hike short-term interest rates dominated investor sentiment
during the first seven months of the period, from July 2015 through January
2016. As a result, credit-sensitive sectors tended to underperform during
that timeframe; meanwhile, expectations that the Fed was preparing to
tighten monetary policy in the US put pressure on market interest rates,
which moved higher and undermined the performance of longer- and
intermediate-term Treasuries as well as other higher-quality debt. In
4 Pioneer Bond Fund | Annual Report | 6/30/16
December 2015, just before the start of the Fund's fiscal year, the Fed did
enact a modest 0.25% increase in the Federal funds rate, further stoking
the market's fears that more monetary tightening was on the horizon that
potentially could put a brake on the already-slow pace of domestic economic
growth.
We were less pessimistic than the overall market, though, as we believed
the outlook for the energy sector was stabilizing, and thought it unlikely
that the United States would fall into recession. We also saw upside
potential in Europe and believed there were early signs of economic
stabilization in China and the emerging markets. Because of those views, we
maintained the Fund's overweighted position in corporate debt, while
underweighting Treasuries and other government securities.
In February (February 11, to be exact), the equity market bottomed before
starting to rise again. Energy prices began stabilizing and then began to
increase. The yield spreads on corporate debt finally began to tighten,
leading to better price performance than that of Treasuries. (Credit
spreads are commonly defined as the differences in yield between Treasuries
and other types of fixed-income securities with similar maturities.)
High-yield corporates led the post-February 11 advance in the fixed-income
market, but investment-grade corporates and asset-backed securities (ABS)
also performed well as investors recognized the unusual value available and
the wide yield advantages risk-related assets held over low-risk government
debt. The credit-sensitive securities continued to recover in price over
most of the period's final four months.
Two developments in June briefly reversed the upward market trends. The
first development was an unexpectedly weak job-creation report in the US
for May, which caused new worries about the possibility of an economic
downturn. That led to declines in stock prices and wider spreads in credit-
sensitive debt, with Treasuries rallying during an investor flight to
quality. Then, in a referendum on June 23, a majority of British voters
supported a plan ("Brexit") to exit the European Union. Risk-related assets
immediately fell into a tailspin, but the declines were short-lived and the
rally in stocks and credit-sensitive securities, especially on the domestic
front, resumed within a few days and continued through the end of 12-month
period. At the same time, the rally in US Treasuries continued, as
international investors allocated additional money to the United States in
light of the
Pioneer Bond Fund | Annual Report | 6/30/16 5
uncertainty in Europe created by the Brexit vote. After a brief leveling
off, the US dollar (USD) also began strengthening against foreign
currencies once again, as investors balked at the negative interest rates
offered by sovereign bonds of several European nations as well as Japan.
Over the full 12 months, the yield curve flattened, with longer and
intermediate rates falling, while rates on the short part of the curve rose
slightly in response to the Fed's December tightening action. During the
period, the yield on the 30-year US Treasury declined from 3.12% to 2.29%,
while the yield on the 10-year Treasury fell from 2.35% to 1.47%. Yields of
three-month Treasuries, meanwhile, moved higher, from 0.01% to 0.26%. The
result was a rally in longer- and intermediate-term Treasuries and
government bonds. Credit-sensitive sectors, on the other hand, recovered
their losses from earlier in the period and wound up generating healthy,
positive returns for the full 12 months, led by high-yield US corporates.
Fueling the rally in the credit sectors was investors' increasing
recognition that economic growth in the United States was sustainable, and
that the Fed was not likely to act too aggressively with regard to raising
short-term interest rates (which would have the effect of increasing the
cost of corporate borrowing). While at the beginning of 2016 several Fed
board members suggested that the Fed would likely raise short-term rates
four times during the calendar year, by the end of the 12-month period,
market consensus had changed to an expectation of zero rate hikes this
year, with a single rate move still seen as a possibility.
Q What factors had the greatest influence on the Fund's performance relative
to the benchmark Barclays Index during the 12-month period ended June 30,
2016?
A The Fund's underperformance of the Barclays Index during the period derived
mainly from the portfolio's short-duration position. (Duration is a measure
of the sensitivity of the price, or the value of principal, of a fixed-
income investment to a change in interest rates, expressed as a number of
years.) We had positioned the portfolio with a shorter duration to protect
assets should interest rates rise, but, as market rates fell over the
course of the 12-month period, the short-duration positioning (-1.1 years
on average, compared with the Barclays Index) detracted from the Fund's
benchmark-relative results. Offsetting, to some extent, the negative
effects of the
6 Pioneer Bond Fund | Annual Report | 6/30/16
short-duration stance was the Fund's bar-belled positioning on the yield
curve, as we underweighted the portfolio to two-year and five-year debt,
and held an overweight to bonds with 30-year maturities. At the end of the
period on June 30, 2016, the effective duration of Fund's investments was
4.39 years.
In addition to the short-duration position, other factors that held back
the Fund's benchmark-relative results during the period included the
portfolio's allocations to Treasury Inflation Protected Securities (TIPS),
which underperformed nominal Treasuries as inflation expectations remained
muted over the 12-month period, and to debt securities issued by banks and
financial firms. In banking and finance, we emphasized subordinated debt
instruments that are lower in the capital structures of those institutions,
and the performance of the securities lagged as investors worried that the
effects of the Brexit vote might filter down to some banks.
Our focus on investments in the credit sectors - with a particular emphasis
on bonds in the industrials sector - had a positive impact on the Fund's
benchmark-relative performance during the period. Industrial bonds
outperformed the Barclays Index over the 12 months, despite lagging in the
early part of the period. Within industrials, we focused on holding
lower-quality securities in the portfolio, and those positions fared well
after oil prices stabilized and then started rising. Among the Fund's asset
allocations, exposure to industrial bonds made the second-largest positive
contribution to benchmark-relative returns during the period, trailing only
the effects of the portfolio's out-of-benchmark position in event-linked
securities (ILS) issued by property-and-casualty insurers. The Fund's ILS
holdings, also referred to as "catastrophe" bonds because they share in the
risks of damage caused by natural disasters, performed strongly during a
benign hurricane season in 2015. Allocations to floating-rate bank loans,
which also are not a component of the Barclays Index, made the third-
largest positive contribution to the Fund's benchmark-relative performance
during the 12-month period.
Pioneer Bond Fund | Annual Report | 6/30/16 7
Q Did you invest the Fund in any derivative securities during the 12-month
period ended June 30, 2016? If so, did the exposure have a material effect
on performance?
A The Fund's primary derivatives exposure during the period was to Treasury
futures contracts, which we used as part of our effort to maintain a
relatively short duration. Because the short-duration positioning detracted
from benchmark-relative performance, the exposure to Treasury futures held
back the Fund's results. The portfolio also had some investments in credit
default swaps as part of a strategy to increase exposure to the credit
sectors during the six-month period. That exposure slightly detracted from
the Fund's benchmark-relative performance during the period.
Q What factors affected the Fund's yield during the 12-month period ended
June 30, 2016?
A As the yields on securities in all parts of the fixed-income market
declined during the period, the portfolio's level of current income fell,
causing a reduction in the Fund's yield.
Q What is your investment outlook?
A We continue to have an optimistic view of the fundamental strength of the
domestic economy, and we have a mixed opinion about the fixed-income credit
markets. However, we think the capital markets may be volatile as investors
react to events.
One of the major factors that could cause market volatility is the Brexit
vote. We do not yet know how the vote will affect government policy in
Europe, or the real economy, but we do think Brexit-related developments
will cause continuous waves of market volatility. The most likely immediate
impact of Brexit is weaker growth and, potentially, a recession in the
United Kingdom, although we anticipate there should be minimal impact on
the US economy. The US presidential election also could affect investor
sentiment as the year progresses.
We anticipate that the domestic economy should continue on its present
trajectory of stable growth, with gross domestic product (GDP) expanding at
around 2.00% during 2016, supported by sustained improvements in personal
consumption. While some observers worry about the slow pace of
8 Pioneer Bond Fund | Annual Report | 6/30/16
job creation in the economy, we take a different view. We believe the recent
slowing of new-job creation is an indication of a tight labor market as well as
the presence of a relatively small number of qualified workers in the economy,
rather than a sign of an overall hiring slowdown. The stabilization of energy
prices also reduces risk, and we believe energy supply/demand relationships
should be more in balance by the end of the year, following a long period during
which supply outstripped demand.
The moderate growth of the US economy, combined with slow expansion of the labor
market, probably means that the Fed can leave short-term interest rates "lower
for longer." While we think the Fed would like to raise rates from current,
extraordinarily low levels, we think it will act cautiously and may increase
rates just once during 2016.
Pioneer Bond Fund | Annual Report | 6/30/16 9
Please refer to the Schedule of Investments on pages 20-91 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 Pioneer Investments for a prospectus or
summary prospectus containing this information. Read it carefully.
Any information in this shareholder report regarding market or economic trends
or the factors influencing the Fund's historical or future performance are
statements of opinion as of the date of this report. Past performance is no
guarantee of future results.
10 Pioneer Bond Fund | Annual Report | 6/30/16
Portfolio Summary | 6/30/16
Portfolio Diversification*
--------------------------------------------------------------------------------
(As a percentage of total investment portfolio)
[THE FOLLOWING DATA WAS REPRESENTED AS A PIE CHART IN THE PRINTED MATERIAL]
U.S. Government Securities 30.8%
U.S. Corporate Bonds 29.1%
Collateralized Mortgage Obligations 17.2%
International Corporate Bonds 10.5%
Asset Backed Securities 4.0%
Senior Secured Loans 3.5%
Temporary Cash Investments 2.8%
Municipal Bonds 1.0%
U.S. Preferred Stocks 0.7%
Convertible Preferred Stocks 0.2%
Foreign Government Bond 0.2%
* Includes investments in insurance linked securities totaling 2.6% of total
investment portfolio.
10 Largest Holdings
--------------------------------------------------------------------------------
(As a percentage of total long-term holdings)*
1. U.S. Treasury Inflation Indexed Bond, 0.75%, 2/15/45 1.57%
--------------------------------------------------------------------------------
2. Fannie Mae, 3.5%, 7/14/16 1.52
--------------------------------------------------------------------------------
3. U.S. Treasury Inflation Indexed Bond, 1.0%, 2/15/46 1.35
--------------------------------------------------------------------------------
4. U.S. Treasury Notes, Floating Rate Note, 7/31/17 1.26
--------------------------------------------------------------------------------
5. Government National Mortgage Association I, 3.5%, 7/20/16 0.82
--------------------------------------------------------------------------------
6. U.S. Treasury Bonds, 3.0%, 5/15/42 0.68
--------------------------------------------------------------------------------
7. Fannie Mae, 4.0%, 7/14/16 0.61
--------------------------------------------------------------------------------
8. Fannie Mae, 3.0%, 8/1/42 0.53
--------------------------------------------------------------------------------
9. U.S. Treasury Notes, Floating Rate Note, 4/30/18 0.49
--------------------------------------------------------------------------------
10. Fannie Mae, 5.0%, 2/1/45 0.47
--------------------------------------------------------------------------------
* This list excludes temporary cash investments and derivative instruments.
The Fund is actively managed, and current holdings may be different. The
holdings listed should not be considered recommendations to buy or sell any
security listed.
Pioneer Bond Fund | Annual Report | 6/30/16 11
Prices and Distributions | 6/30/16
Net Asset Value per Share
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Class 6/30/16 6/30/15
--------------------------------------------------------------------------------
A $9.76 $9.68
--------------------------------------------------------------------------------
C $9.66 $9.57
--------------------------------------------------------------------------------
K $9.76 $9.68
--------------------------------------------------------------------------------
R $9.85 $9.77
--------------------------------------------------------------------------------
Y $9.67 $9.59
--------------------------------------------------------------------------------
Distributions per Share: 7/1/15-6/30/16
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net Investment Short-Term Long-Term
Class Income Capital Gains Capital Gains
--------------------------------------------------------------------------------
A $0.2704 $ -- $0.0211
--------------------------------------------------------------------------------
C $0.1969 $ -- $0.0211
--------------------------------------------------------------------------------
K $0.3070 $ -- $0.0211
--------------------------------------------------------------------------------
R $0.2486 $ -- $0.0211
--------------------------------------------------------------------------------
Y $0.2939 $ -- $0.0211
--------------------------------------------------------------------------------
Index Definition
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The Barclays Aggregate Bond Index is an unmanaged measure of the US bond market.
Index returns are calculated monthly, assume reinvestment of dividends and,
unlike Fund returns, do not reflect any fees, expenses or sales charges. It is
not possible to invest directly in an index.
The index defined here pertains to the "Value of $10,000 Investment" and "Value
of $5 Million Investment" charts on pages 13-17.
12 Pioneer Bond Fund | Annual Report | 6/30/16
Performance Update | 6/30/16 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 Barclays Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2016)
--------------------------------------------------------------------------------
Net Public Barclays
Asset Offering Aggregate
Value Price Bond
Period (NAV) (POP) Index
--------------------------------------------------------------------------------
10 years 5.64% 5.15% 5.13%
5 years 4.10 3.13 3.76
1 year 3.93 -0.79 6.00
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2015)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
0.93% 0.85%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Pioneer Bond Barclays Aggregate
Fund Bond Index
6/06 $ 9,550 $10,000
6/07 $10,056 $10,612
6/08 $10,723 $11,368
6/09 $11,007 $12,055
6/10 $12,626 $13,200
6/11 $13,520 $13,715
6/12 $14,319 $14,741
6/13 $14,779 $14,639
6/14 $15,694 $15,279
6/15 $15,900 $15,563
6/16 $16,525 $16,497
Call 1-800-225-6292 or visit us.pioneerinvestments.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. 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, 2017, for Class A shares. There can be no assurance
that 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.
Pioneer Bond Fund | Annual Report | 6/30/16 13
Performance Update | 6/30/16 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 Barclays Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2016)
--------------------------------------------------------------------------------
Barclays
Aggregate
If If Bond
Period Held Redeemed Index
--------------------------------------------------------------------------------
10 years 4.74% 4.74% 5.13%
5 years 3.27 3.27 3.76
1 year 3.28 3.28 6.00
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2015)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
1.63%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Pioneer Bond Barclays Aggregate
Fund Bond Index
6/06 $10,000 $10,000
6/07 $10,439 $10,612
6/08 $11,044 $11,368
6/09 $11,223 $12,055
6/10 $12,753 $13,200
6/11 $13,526 $13,715
6/12 $14,218 $14,741
6/13 $14,550 $14,639
6/14 $15,306 $15,279
6/15 $15,381 $15,563
6/16 $15,886 $16,497
Call 1-800-225-6292 or visit us.pioneerinvestments.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.
14 Pioneer Bond Fund | Annual Report | 6/30/16
Performance Update | 6/30/16 Class K Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $10,000
investment made in Class K shares of Pioneer Bond Fund during the periods shown,
compared to that of the Barclays Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2016)
--------------------------------------------------------------------------------
Net Barclays
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 5.76% 5.13%
5 years 4.34 3.76
1 year 4.32 6.00
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2015)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
0.47%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Pioneer Bond Barclays Aggregate
Fund Bond Index
6/06 $10,000 $10,000
6/07 $10,531 $10,612
6/08 $11,230 $11,368
6/09 $11,527 $12,055
6/10 $13,223 $13,200
6/11 $14,159 $13,715
6/12 $14,996 $14,741
6/13 $15,503 $14,639
6/14 $16,490 $15,279
6/15 $16,787 $15,563
6/16 $17,513 $16,497
Call 1-800-225-6292 or visit us.pioneerinvestments.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.
Pioneer Bond Fund | Annual Report | 6/30/16 15
Performance Update | 6/30/16 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 Barclays Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2016)
--------------------------------------------------------------------------------
Net Barclays
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 5.27% 5.13%
5 years 3.76 3.76
1 year 3.66 6.00
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2015)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
1.21% 1.10%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Pioneer Bond Barclays Aggregate
Fund Bond Index
6/06 $10,000 $10,000
6/07 $10,504 $10,612
6/08 $11,150 $11,368
6/09 $11,413 $12,055
6/10 $13,030 $13,200
6/11 $13,900 $13,715
6/12 $14,675 $14,741
6/13 $15,086 $14,639
6/14 $15,953 $15,279
6/15 $16,123 $15,563
6/16 $16,713 $16,497
Call 1-800-225-6292 or visit us.pioneerinvestments.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, 2017, for Class R shares. There can be no assurance
that 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.
16 Pioneer Bond Fund | Annual Report | 6/30/16
Performance Update | 6/30/16 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 Barclays Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2016)
--------------------------------------------------------------------------------
Net Barclays
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 5.91% 5.13%
5 years 4.35 3.76
1 year 4.22 6.00
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2015)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
0.58%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Pioneer Bond Barclays Aggregate
Fund Bond Index
6/06 $5,000,000 $5,000,000
6/07 $5,282,639 $5,306,035
6/08 $5,647,868 $5,683,991
6/09 $5,814,476 $6,027,695
6/10 $6,690,107 $6,600,223
6/11 $7,175,180 $6,857,727
6/12 $7,625,259 $7,370,252
6/13 $7,879,681 $7,319,565
6/14 $8,384,944 $7,639,674
6/15 $8,517,926 $7,781,606
6/16 $8,877,353 $8,248,610
Call 1-800-225-6292 or visit us.pioneerinvestments.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 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.
Pioneer Bond Fund | Annual Report | 6/30/16 17
Comparing Ongoing Fund Expenses
As a shareowner in the Fund, you incur two types of costs:
(1) ongoing costs, including management fees, distribution and/or service
(12b-1) fees, and other Fund expenses; and
(2) transaction costs, including sales charges (loads) on purchase payments.
This example is intended to help you understand your ongoing expenses (in
dollars) of investing in the Fund and to compare these costs with the ongoing
costs of investing in other mutual funds. The example is based on an investment
of $1,000 at the beginning of the Fund's latest six-month period and held
throughout the six months.
Using the Tables
--------------------------------------------------------------------------------
Actual Expenses
The first table below provides information about actual account values and
actual expenses. You may use the information in this table, together with the
amount you invested, to estimate the expenses that you paid over the period as
follows:
(1) Divide your account value by $1,000
Example: an $8,600 account value (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, 2016 through June 30, 2016.
--------------------------------------------------------------------------------
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 1/1/16
--------------------------------------------------------------------------------
Ending Account $1,039.30 $1,032.80 $1,043.20 $1,036.60 $1,042.20
Value (after
expenses)
on 6/30/16
--------------------------------------------------------------------------------
Expenses Paid $ 4.31 $ 8.11 $ 2.39 $ 5.58 $ 2.95
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized expense ratio of 0.85%, 1.60%,
0.47%, 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 182/366 (to reflect the one-half year period).
18 Pioneer Bond Fund | Annual Report | 6/30/16
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, 2016 through June 30, 2016.
--------------------------------------------------------------------------------
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 1/1/16
--------------------------------------------------------------------------------
Ending Account $1,020.64 $1,016.91 $1,022.53 $1,019.39 $1,021.98
Value (after
expenses)
on 6/30/16
--------------------------------------------------------------------------------
Expenses Paid $ 4.27 $ 8.02 $ 2.36 $ 5.52 $ 2.92
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized expense ratio of 0.85%, 1.60%,
0.47%, 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 182/366 (to reflect the one-half year period).
Pioneer Bond Fund | Annual Report | 6/30/16 19
Schedule of Investments | 6/30/16
------------------------------------------------------------------------------------------------------
Shares Value
------------------------------------------------------------------------------------------------------
PREFERRED STOCKS -- 0.1%
BANKS -- 0.0%+
Diversified Banks -- 0.0%+
30,353 7.01 Citigroup Capital XIII, Floating Rate Note, 10/30/40 $ 791,303
--------------
Total Banks $ 791,303
------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.1%
Asset Management & Custody Banks -- 0.1%
92,400 5.35 State Street Corp., Floating Rate Note,
12/31/49 (Perpetual) $ 2,480,016
--------------
Total Diversified Financials $ 2,480,016
------------------------------------------------------------------------------------------------------
TOTAL PREFERRED STOCKS
(Cost $3,127,149) $ 3,271,319
------------------------------------------------------------------------------------------------------
CONVERTIBLE PREFERRED STOCK -- 0.3%
BANKS -- 0.3%
Diversified Banks -- 0.3%
8,746 Wells Fargo & Co., 7.5% (Perpetual) $ 11,362,803
------------------------------------------------------------------------------------------------------
TOTAL CONVERTIBLE PREFERRED STOCK
(Cost $9,486,742) $ 11,362,803
------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited)
------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- 4.2%
CONSUMER SERVICES -- 0.0%+
Hotels, Resorts & Cruise Lines -- 0.0%+
608,544 Westgate Resorts 2012-A LLC, 3.75%,
8/20/25 (144A) $ 607,747
1,864,281 Westgate Resorts 2015-1 LLC, 2.75%,
5/20/27 (144A) 1,856,212
$ 2,463,959
--------------
Total Consumer Services $ 2,463,959
------------------------------------------------------------------------------------------------------
FOOD & STAPLES RETAILING -- 0.1%
Food Retail -- 0.1%
3,732,705 CKE Restaurant Holdings, Inc., 4.474%,
3/20/43 (144A) $ 3,735,668
--------------
Total Food & Staples Retailing $ 3,735,668
------------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.0%+
Health Care Distributors -- 0.0%+
1,600,000 OneMain Financial Issuance Trust 2015-1, 3.19%,
3/18/26 (144A) $ 1,616,478
--------------
Total Health Care Equipment & Services $ 1,616,478
------------------------------------------------------------------------------------------------------
BANKS -- 3.2%
Thrifts & Mortgage Finance -- 3.2%
1,035,117 Access Point Funding I 2015-A LLC, 2.61%,
4/15/20 (144A) $ 1,034,794
The accompanying notes are an integral part of these financial statements.
20 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,200,000 1.79 American Homes 4 Rent 2014-SFR1, Floating
Rate Note, 6/17/31 $ 2,165,307
2,800,000 American Homes 4 Rent 2014-SFR3 Trust,
4.596%, 12/18/36 (144A) 2,975,655
700,000 American Homes 4 Rent 2014-SFR3 Trust,
5.04%, 12/18/36 (144A) 744,055
1,300,000 American Homes 4 Rent 2015-SFR1, 4.11%,
4/18/52 (144A) 1,330,148
2,600,000 Applebee's Funding LLC/ IHOP Funding LLC,
4.277%, 9/5/44 (144A) 2,646,214
2,200,000 Ascentium Equipment Receivables 2015-1 LLC,
3.24%, 1/10/22 (144A) 2,216,522
699,990 Axis Equipment Finance Receivables III LLC, 3.41%,
4/20/20 (144A) 693,142
1,039,329 B2R Mortgage Trust 2015-1, 2.524%, 5/15/48 (144A) 1,045,494
177,045 0.95 Bayview Financial Mortgage Pass-Through Trust
2005-C, Floating Rate Note, 6/28/44 176,207
627,887 Bayview Financial Mortgage Pass-Through Trust
2006-A, 5.865%, 2/28/41 (Step) 688,054
148,227 0.90 Bayview Financial Mortgage Pass-Through Trust
Series 2005-B, Floating Rate Note, 4/28/39 147,917
1,650,000 BCC Funding Corp X, 3.622%, 11/20/20 (144A) 1,660,758
939,082 1.20 Bear Stearns Asset Backed Securities I Trust
2005-FR1, Floating Rate Note, 6/25/35 932,789
630,986 0.94 Bear Stearns Asset Backed Securities Trust
2006-SD2, Floating Rate Note, 6/25/36 617,948
2,161,815 BXG Receivables Note Trust 2015-A, 2.88%,
5/2/30 (144A) 2,187,613
3,000,000 Capital Automotive Real Estate Investment Trust,
3.66%, 10/17/44 (144A) 2,890,772
400,000 1.66 Chesapeake Funding LLC, Floating Rate Note,
3/9/26 (144A) 396,953
1,400,000 CIT Equipment Collateral 2014-VT1, 2.65%,
10/20/22 (144A) 1,415,444
597,127 1.20 Citigroup Mortgage Loan Trust, Inc., Floating Rate
Note, 5/25/35 (144A) 594,744
5,344,970 Colony American Finance 2015-1, Ltd., 2.896%,
10/18/47 (144A) 5,441,118
3,200,000 2.29 Colony American Homes 2014-1, Floating Rate
Note, 5/19/31 (144A) 3,146,340
639,537 Consumer Credit Origination Loan Trust 2015-1,
2.82%, 3/15/21 (144A) 639,523
1,201,833 4.79 Countrywide Asset-Backed Certificates, Floating
Rate Note, 12/25/35 1,212,663
1,500,000 Credit Acceptance Auto Loan Trust 2016-2, 4.29%,
11/15/24 (144A) 1,508,758
537,994 0.75 Credit-Based Asset Servicing and Securitization
LLC, Floating Rate Note, 7/25/36 534,730
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 21
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,750,000 CRG Issuer 2015-1, 4.07%, 7/11/22 (144A) $ 1,736,875
524,355 1.50 CWABS Asset-Backed Certificates Trust 2004-7,
Floating Rate Note, 12/25/34 520,413
3,752,500 DB Master Finance LLC 2015-1, 3.98%,
2/20/45 (144A) 3,853,442
2,300,000 2.35 DRB Prime Student Loan Trust 2016-B, Floating
Rate Note, 6/25/40 (144A) 2,299,965
850,683 3.48 Drug Royalty II LP 2, Floating Rate Note,
7/15/23 (144A) 856,929
2,000,000 DT Auto Owner Trust 2015-1, 4.26%, 2/15/22 (144A) 2,003,297
582,157 GMAT 2013-1 Trust, 3.9669%, 8/25/53 (Step) 582,016
425,088 1.20 GSAMP Trust 2005-HE1, Floating Rate Note, 12/25/34 421,293
1,187,149 1.80 GSRPM Mortgage Loan Trust 2003-2, Floating
Rate Note, 6/25/33 1,143,362
516,421 0.75 GSRPM Mortgage Loan Trust 2006-2, Floating
Rate Note, 9/25/36 (144A) 492,904
2,943,250 HOA Funding LLC, 4.846%, 8/22/44 (144A) 2,604,188
198,500 0.83 Home Equity Asset Trust 2005-7, Floating Rate
Note, 1/25/36 198,015
1,090,156 0.82 Home Equity Mortgage Loan Asset-Backed Trust
Series INABS 2005-C, Floating Rate Note, 10/25/35 1,080,207
1,388,389 Icon Brand Holdings LLC, 4.229%, 1/26/43 (144A) 1,265,538
315,722 Icon Brand Holdings LLC, 4.352%, 1/25/43 (144A) 298,693
1,696,573 1.64 Invitation Homes 2014-SFR3 Trust, Floating Rate
Note, 12/17/31 (144A) 1,684,480
52,988 Irwin Home Equity Loan Trust 2005-1, 5.82%,
6/25/35 (Step) 52,689
389,975 1.95 Irwin Whole Loan Home Equity Trust 2003-C,
Floating Rate Note, 6/25/28 385,403
850,000 Leaf Receivables Funding 10 LLC, 2.74%,
3/15/21 (144A) 849,795
1,200,000 Leaf Receivables Funding 11 LLC, 4.89%,
1/15/23 (144A) 1,207,422
188,071 Lehman ABS Manufactured Housing Contract
Trust 2001-B, 3.01%, 5/15/41 187,125
318,507 Lehman ABS Manufactured Housing Contract
Trust 2001-B, 5.873%, 5/15/41 328,960
949,015 Nations Equipment Finance Funding II LLC,
3.276%, 1/22/19 (144A) 938,732
140,087 0.60 Nationstar Home Equity Loan Trust 2007-A,
Floating Rate Note, 3/25/37 137,967
1,000,000 5.95 NCF Dealer Floorplan Master Trust, Floating Rate
Note, 3/21/22 (144A) 972,007
908,073 1.15 New Century Home Equity Loan Trust 2005-1,
Floating Rate Note, 3/25/35 902,579
1,050,000 NextGear Floorplan Master Owner Trust, 1.92%,
10/15/19 (144A) 1,045,565
The accompanying notes are an integral part of these financial statements.
22 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,000,000 NextGear Floorplan Master Owner Trust, 2.61%,
10/15/19 (144A) $ 991,771
359,721 2.10 NovaStar Mortgage Funding Trust Series 2004-4,
Floating Rate Note, 3/25/35 356,309
1,600,000 Oportun Funding III LLC, 3.69%, 7/8/21 (144A) 1,599,833
1,900,000 Oxford Finance Funding 2014-1 LLC, 3.475%,
12/15/22 (144A) 1,903,857
2,100,000 Oxford Finance Funding 2016-1 LLC, 3.968%,
6/17/24 (144A) 2,098,713
1,000,000 1.29 PFS Financing Corp., Floating Rate Note,
10/15/19 (144A) 986,519
775,000 Prestige Auto Receivables Trust 2013-1, 3.04%,
7/15/20 (144A) 778,585
3,200,000 Progreso Receivables Funding III LLC, 3.625%,
1/30/25 (144A) 3,194,417
2,000,000 Progreso Receivables Funding IV LLC, 3.0%,
7/8/20 (144A) 1,964,599
180,000 2.69 Progress Residential 2014-SFR1 Trust, Floating
Rate Note, 10/17/31 (144A) 178,855
2,700,000 2.84 Progress Residential 2015-SFR1 Trust, Floating
Rate Note, 2/20/32 (144A) 2,685,905
577,779 0.70 RAAC Series 2006-RP2 Trust, Floating Rate Note,
2/25/37 (144A) 571,727
1,000,000 SCF Equipment Trust 2016-1 LLC, 3.62%,
11/20/21 (144A) 1,000,000
3,360,000 2.49 Silver Bay Realty 2014-1 Trust, Floating Rate Note,
9/18/31 (144A) 3,308,946
491,546 Skopos Auto Receivables Trust 2015-1, 3.1%,
12/15/23 (144A) 490,022
1,256,633 SpringCastle America Funding LLC, 2.7%,
5/25/23 (144A) 1,260,906
849,122 Springleaf Funding Trust 2014-A, 2.41%,
12/15/22 (144A) 849,634
1,391,833 STORE Master Funding I LLC, 3.75%, 4/20/45 (144A) 1,352,874
1,977,875 STORE Master Funding LLC, 5.77%, 8/20/42 (144A) 2,084,147
437,120 0.65 Structured Asset Investment Loan Trust 2006-1,
Floating Rate Note, 1/25/36 429,357
789,123 0.67 Structured Asset Securities Corp., Mortgage Loan Trust
2006-GEL4, Floating Rate Note, 10/25/36 (144A) 784,859
35,766 Structured Asset Securities Corp., 4.77%,
10/25/34 (Step) 36,736
727,080 Sunset Mortgage Loan Co., 2014-NPL2 LLC, 3.721%,
11/16/44 (Step) (144A) 723,226
390,025 SVO 2012-A VOI Mortgage LLC, 2.0%, 9/20/29 (144A) 385,708
771,441 1.39 Terwin Mortgage Trust Series TMTS 2003-8HE,
Floating Rate Note, 12/25/34 753,270
161,581 Terwin Mortgage Trust Series TMTS 2005-12ALT,
4.82637%, 7/25/36 (Step) 161,941
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 23
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,980,329 Terwin Mortgage Trust Series TMTS 2005-16HE,
4.3072%, 9/25/36 (Step) $ 2,024,533
800,000 2.69 Trafigura Securitisation Finance Plc, 2014-1,
Floating Rate Note, 4/16/18 (144A) 792,843
2,140,000 United Auto Credit Securitization Trust 2015-1,
2.92%, 6/17/19 (144A) 2,101,053
2,900,000 VB-S1 Issuer LLC, 3.065%, 6/15/46 (144A) 2,900,000
1,402,151 VOLT XXXI LLC, 3.375%, 2/25/55 (Step) (144A) 1,388,331
2,942,625 VOLT XXXIII LLC, 3.5%, 3/25/55 (Step) (144A) 2,917,416
2,212,787 VOLT XXXVI LLC, 3.625%, 7/25/45 (Step) (144A) 2,197,493
2,850,882 VOLT XXXVII LLC, 3.625%, 7/25/45 (Step) (144A) 2,840,980
1,505,321 Welk Resorts 2015-A LLC, 2.79%, 6/16/31 (144A) 1,495,428
3,746,027 Westgate Resorts 2016-1 LLC, 4.5%, 12/20/28 (144A) 3,718,822
1,000,000 Westlake Automobile Receivables Trust 2015-3,
3.05%, 5/17/21 (144A) 1,006,056
1,000,000 Westlake Automobile Receivables Trust 2016-1,
3.29%, 9/15/21 (144A) 1,010,448
3,630,525 3.50 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 3,736,195
--------------
$ 126,155,837
--------------
Total Banks $ 126,155,837
------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.7%
Other Diversified Financial Services -- 0.3%
500,000 American Credit Acceptance Receivables Trust
2014-1, 5.2%, 4/12/21 (144A) $ 497,095
499,944 AXIS Equipment Finance Receivables II LLC, 4.94%,
7/20/18 (144A) 505,458
9,050 CNH Equipment Trust 2013-A, 0.69%, 6/15/18 9,048
522,379 Diamond Resorts Owner Trust 2015-1, 3.17%,
7/20/27 (144A) 520,159
1,056,745 PFS Tax Lien Trust 2014-1, 1.44%, 5/15/29 (144A) 1,051,033
640,282 Sierra Timeshare 2012-2 Receivables Funding LLC,
2.38%, 3/20/29 (144A) 640,784
131,614 Sierra Timeshare 2012-3 Receivables Funding LLC,
1.87%, 8/20/29 (144A) 131,220
260,240 Small Business Administration Participation
Certificates, 4.2%, 9/1/29 283,716
393,428 Small Business Administration Participation
Certificates, 4.625%, 2/1/25 424,025
405,663 Small Business Administration Participation
Certificates, 4.84%, 5/1/25 441,383
490,290 Small Business Administration Participation
Certificates, 5.37%, 4/1/28 549,944
350,083 Small Business Administration Participation
Certificates, 5.63%, 10/1/28 397,407
The accompanying notes are an integral part of these financial statements.
24 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Other Diversified Financial Services -- (continued)
118,550 Small Business Administration Participation
Certificates, 5.72%, 1/1/29 $ 135,171
580,369 Small Business Administration Participation
Certificates, 6.02%, 8/1/28 662,798
125,536 Small Business Administration Participation
Certificates, 6.14%, 1/1/22 135,999
307,948 Small Business Administration Participation
Certificates, 6.22%, 12/1/28 354,089
3,300,000 Spirit Master Funding LLC, 4.6291%, 1/20/45 (144A) 3,082,405
--------------
$ 9,821,734
------------------------------------------------------------------------------------------------------
Specialized Finance -- 0.3%
5,472,500 Domino's Pizza Master Issuer LLC, 3.484%,
10/25/45 (144A) $ 5,559,077
2,390,596 Domino's Pizza Master Issuer LLC, 5.216%,
1/27/42 (144A) 2,460,402
2,920,000 Hercules Capital Funding Trust 2014-1, 3.524%,
4/16/21 (144A) 2,905,856
570,666 JG Wentworth XXII LLC, 3.82%, 12/15/48 (144A) 593,373
--------------
$ 11,518,708
------------------------------------------------------------------------------------------------------
Consumer Finance -- 0.1%
2,100,000 First Investors Auto Owner Trust 2014-3, 2.97%,
11/16/20 (144A) $ 2,092,915
510,000 First Investors Auto Owner Trust 2015-1, 3.59%,
1/18/22 (144A) 498,267
--------------
$ 2,591,182
------------------------------------------------------------------------------------------------------
Asset Management & Custody Banks -- 0.0%+
655,978 NewStar Commercial Lease Funding 2015-1 LLC,
3.27%, 4/15/19 (144A) $ 654,048
Investment Banking & Brokerage -- 0.0%+
1,600,000 2.21 Chesapeake Funding LLC, Floating Rate Note,
2/8/27 (144A) $ 1,575,607
--------------
Total Diversified Financials $ 26,161,279
------------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.2%
Wireless Telecommunication Services -- 0.2%
6,975,000 3.87 Small Business Administration Participation
Certificates, Floating Rate Note, 10/15/49 (144A) $ 7,137,780
--------------
Total Telecommunication Services $ 7,137,780
------------------------------------------------------------------------------------------------------
TOTAL ASSET BACKED SECURITIES
(Cost $167,033,230) $ 167,271,001
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 25
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE
OBLIGATIONS -- 17.8%
BANKS -- 16.9%
Diversified Banks -- 0.1%
4,225,000 COMM 2015-LC23 Mortgage Trust REMICS, 3.774%,
10/10/53 $ 4,627,732
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- 16.7%
19,891 A10 Securitization 2013-1 LLC, 2.4%,
11/17/25 (144A) $ 19,887
982,876 A10 Term Asset Financing 2013-2 LLC, 2.62%,
11/15/27 (144A) 977,792
6,546,673 3.61 Agate Bay Mortgage Trust 2013-1, Floating Rate
Note, 7/25/43 (144A) 6,399,495
1,806,631 3.90 Agate Bay Mortgage Trust 2014-1 REMICS, Floating
Rate Note, 7/25/44 (144A) 1,769,610
6,249,697 3.50 Agate Bay Mortgage Trust 2015-1, Floating Rate
Note, 1/25/45 (144A) 6,394,103
4,475,370 3.50 Agate Bay Mortgage Trust 2015-2, Floating Rate
Note, 3/27/45 (144A) 4,607,881
4,388,634 3.50 Agate Bay Mortgage Trust 2015-5, Floating Rate
Note, 7/25/45 (144A) 4,512,749
8,328,956 3.50 Agate Bay Mortgage Trust 2015-7, Floating Rate
Note, 10/25/45 (144A) 8,518,308
5,385,308 3.50 Agate Bay Mortgage Trust 2016-1, Floating Rate
Note, 12/25/45 (144A) 5,501,006
262,244 0.90 Alternative Loan Trust 2003-14T1, Floating Rate
Note, 8/25/18 232,698
5,000,000 2.18 Arbor Realty Collateralized Loan Obligation
2015-FL1, Ltd., Floating Rate Note, 3/17/25 (144A) 4,850,000
2,580,000 2.64 BAMLL Commercial Mortgage Securities Trust
2014-FL1, Floating Rate Note, 12/17/31 (144A) 2,548,064
1,600,000 2.38 BAMLL Commercial Mortgage Securities Trust
2014-INLD, Floating Rate Note, 12/17/29 (144A) 1,575,870
4,200,000 2.15 BAMLL Commercial Mortgage Securities Trust
2015-ASHF, Floating Rate Note, 1/18/28 (144A) 4,197,312
5,250,000 2.69 BAMLL Re-REMIC Trust 2014-FRR7, Floating Rate
Note, 10/26/44 (144A) 5,138,570
779,876 Banc of America Alternative Loan Trust 2004-6,
5.0%, 7/25/19 790,758
3,669,612 Banc of America Alternative Loan Trust 2006-2,
5.5%, 3/25/21 3,695,596
540,868 Banc of America Mortgage Trust 2004-11,
5.75%, 1/25/35 548,593
637,324 Banc of America Mortgage Trust 2004-9,
5.5%, 11/25/34 648,375
937,472 5.21 Bear Stearns Commercial Mortgage Securities Trust
2005-PWR7, Floating Rate Note, 2/11/41 936,205
2,500,000 4.95 Bellemeade Re II, Ltd., Floating Rate Note,
4/25/26 (144A) 2,506,250
The accompanying notes are an integral part of these financial statements.
26 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,210,000 2.39 BLCP Hotel Trust, Floating Rate Note, 8/15/29 (144A) $ 2,163,383
3,250,000 CCRESG Commercial Mortgage Trust 2016-HEAT,
3.357%, 4/10/29 (144A) 3,385,200
4,000,000 2.94 CDGJ Commercial Mortgage Trust 2014-BXCH,
Floating Rate Note, 12/15/27 (144A) 3,926,350
11,460,375 3.75 Chase Mortgage Trust 2016-1, Floating Rate Note,
3/26/46 (144A) 11,632,014
394,671 2.87 CHL Mortgage Pass-Through Trust 2003-56, Floating
Rate Note, 12/25/33 396,300
5,000,000 Citigroup Commercial Mortgage Trust 2014-GC25
REMICS, 3.371%, 10/11/47 5,338,110
593,614 3.50 Citigroup Mortgage Loan Trust 2013-J1, Floating
Rate Note, 10/25/43 (144A) 601,359
3,537,688 3.75 Citigroup Mortgage Loan Trust 2015-PS1, Floating
Rate Note, 9/25/42 (144A) 3,639,751
2,342,751 2.63 Citigroup Mortgage Loan Trust, Inc. REMICS, Floating
Rate Note, 8/25/34 2,246,865
2,400,000 Colony American Finance 2016-1, Ltd., 5.972%,
6/15/48 (Step) (144A) 2,413,261
450,000 COMM 2012-CCRE2 Mortgage Trust REMICS,
3.791%, 8/17/45 487,672
915,000 COMM 2012-CCRE4 Mortgage Trust, 2.436%,
10/17/45 938,214
4,000,000 COMM 2012-LC4 Mortgage Trust, 4.063%, 12/12/44 4,373,944
4,200,000 5.34 COMM 2013-CCRE11 Mortgage Trust, Floating Rate
Note, 8/12/50 (144A) 4,515,480
1,900,000 COMM 2013-LC6 Mortgage Trust, 2.941%, 1/10/46 2,001,298
7,325,000 4.66 COMM 2014-CCRE20 Mortgage Trust, Floating Rate
Note, 11/10/47 7,415,895
3,800,000 2.59 COMM 2014-FL5 Mortgage Trust, Floating Rate
Note, 10/15/31 (144A) 3,735,705
4,150,000 2.19 COMM 2014-SAVA Mortgage Trust, Floating Rate
Note, 6/15/34 (144A) 4,056,831
4,100,000 3.42 COMM 2014-Ubs4 Mortgage Trust Series
2014-Ubs4 Cl A4, Floating Rate Note, 8/10/47 4,353,416
1,750,000 3.68 COMM 2015-CCRE23 Mortgage Trust, Floating
Rate Note, 5/12/48 (144A) 1,752,734
5,204,000 4.70 COMM 2015-CCRE25 Mortgage Trust, Floating
Rate Note, 8/12/48 5,747,356
3,375,000 COMM 2015-CCRE26 Mortgage Trust REMICS,
3.63%, 10/13/48 3,652,971
3,850,000 Commercial Mortgage Pass Through Certificates,
2.822%, 10/17/45 4,016,109
2,339,794 Credit Suisse Commercial Mortgage Trust Series
2007-C1, 5.361%, 2/15/40 2,369,750
147,550 Credit Suisse First Boston Mortgage Securities
Corp., 5.5%, 6/25/33 149,155
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 27
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,890,000 CSAIL 2016-C6 Commercial Mortgage Trust,
3.0898%, 1/15/49 $ 1,952,743
2,700,000 2.69 CSMC 2015-TWNI Trust, Floating Rate Note,
3/15/28 (144A) 2,623,182
9,545,318 3.00 CSMC Trust 2012-CIM2, Floating Rate Note,
6/25/42 (144A) 9,718,696
4,760,660 3.59 CSMC Trust 2013-7, Floating Rate Note,
8/25/43 (144A) 4,609,962
6,785,329 1.55 CSMC Trust 2013-IVR2, Floating Rate Note,
4/27/43 (144A) 6,375,991
3,229,910 1.55 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 3,092,060
3,344,379 3.47 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 3,287,143
3,898,060 3.47 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 3,686,634
2,683,921 3.00 CSMC Trust 2013-IVR4, Floating Rate Note,
7/27/43 (144A) 2,685,085
1,914,700 3.00 CSMC Trust 2013-IVR4, Floating Rate Note,
7/27/43 (144A) 1,912,177
3,823,105 3.00 CSMC Trust 2014-WIN1, Floating Rate Note,
8/25/54 (144A) 3,902,851
6,767,353 CSMC Trust 2015-2, 3.0%, 2/25/45 (144A) 6,856,367
4,092,042 CSMC Trust 2015-2, 3.5%, 2/25/45 (144A) 4,257,488
10,154,668 3.50 CSMLT 2015-1 Trust, Floating Rate Note,
5/25/45 (144A) 10,449,215
1,900,000 5.55 DBUBS 2011-LC3 Mortgage Trust, Floating Rate
Note, 8/10/44 (144A) 2,158,669
3,938,064 3.49 EverBank Mortgage Loan Trust REMICS, Floating
Rate Note, 4/25/43 (144A) 3,924,680
4,630,000 3.49 GAHR Commercial Mortgage Trust 2015-NRF,
Floating Rate Note, 12/15/34 (144A) 4,683,414
1,035,831 Global Mortgage Securitization, Ltd., 5.25%,
4/25/32 (144A) 998,693
1,494,750 0.72 Global Mortgage Securitization, Ltd., Floating Rate
Note, 4/25/32 (144A) 1,427,154
2,000,000 4.60 Government National Mortgage Association,
Floating Rate Note, 1/16/50 2,237,783
2,800,000 GS Mortgage Securities Corp., Trust 2012-SHOP,
2.933%, 6/5/31 (144A) 2,896,139
1,250,000 GS Mortgage Securities Corp. II, 3.377%, 5/10/45 1,341,712
1,000,000 GS Mortgage Securities Corp. II, 3.682%,
2/10/46 (144A) 1,053,852
403,359 GS Mortgage Securities Corp. II, 5.56%, 11/10/39 404,427
7,554,000 2.10 Homestar Mortgage Acceptance Corp., Floating
Rate Note, 1/25/35 7,325,871
1,074,593 2.48 Homestar Mortgage Acceptance Corp., Floating
Rate Note, 10/25/34 867,350
The accompanying notes are an integral part of these financial statements.
28 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,100,000 2.14 Hyatt Hotel Portfolio Trust 2015-HYT, Floating Rate
Note, 11/15/29 (144A) $ 2,078,896
850,743 0.65 Impac Secured Assets Trust 2006-5, Floating Rate
Note, 12/25/36 791,701
4,260,234 JP Morgan Chase Commercial Mortgage Securities
Corp., 2.84%, 12/15/47 4,448,743
360,627 0.60 JP Morgan Chase Commercial Mortgage Securities
Trust 2006-LDP9, Floating Rate Note, 5/15/47 358,445
1,600,000 JP Morgan Chase Commercial Mortgage Securities
Trust 2010-C2, 3.6159%, 11/15/43 (144A) 1,638,824
1,350,000 JP Morgan Chase Commercial Mortgage Securities
Trust 2011-C5, 4.1712%, 8/15/46 1,474,268
1,200,000 3.98 JP Morgan Chase Commercial Mortgage Securities
Trust 2012-C8, Floating Rate Note, 10/17/45 (144A) 1,275,867
4,600,000 2.39 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-CBM, Floating Rate Note, 10/15/29 (144A) 4,483,786
2,200,000 2.64 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL4 REMICS, Floating Rate Note,
12/16/30 (144A) 2,179,059
900,000 2.54 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL5 REMICS, Floating Rate Note,
7/15/31 (144A) 887,729
1,260,000 1.79 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL5, Floating Rate Note, 7/15/31 (144A) 1,249,422
4,600,000 2.69 JP Morgan Chase Commercial Mortgage Securities
Trust 2015-COSMO, Floating Rate Note,
1/15/32 (144A) 4,565,369
4,000,000 3.19 JP Morgan Chase Commercial Mortgage Securities
Trust 2015-SGP, Floating Rate Note, 7/15/36 (144A) 3,997,500
182,137 2.62 JP Morgan Mortgage Trust 2003-A1, Floating Rate
Note, 10/25/33 180,269
1,284,234 2.72 JP Morgan Mortgage Trust 2004-A1, Floating Rate
Note, 2/25/34 1,300,233
481,350 2.69 JP Morgan Mortgage Trust 2004-A1, Floating Rate
Note, 2/25/34 470,991
458,698 JP Morgan Mortgage Trust 2004-S1, 5.0%, 9/25/34 469,429
4,845,442 3.00 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 4,907,807
8,814,088 2.50 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 8,931,492
2,037,742 3.00 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 2,070,696
3,699,402 3.52 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 3,777,741
1,188,166 3.50 JP Morgan Mortgage Trust 2013-2, Floating Rate
Note, 5/25/43 (144A) 1,222,511
1,233,352 3.50 JP Morgan Mortgage Trust 2014-1 REMICS, Floating
Rate Note, 1/25/44 (144A) 1,275,971
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 29
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
3,221,349 3.76 JP Morgan Mortgage Trust 2014-1 REMICS, Floating
Rate Note, 1/25/44 (144A) $ 3,432,981
7,002,919 3.00 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 7,201,514
6,241,758 3.42 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 6,474,210
1,347,928 3.43 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 1,329,553
4,590,613 3.00 JP Morgan Mortgage Trust 2014-5, Floating Rate
Note, 10/25/29 (144A) 4,735,144
2,267,924 3.03 JP Morgan Mortgage Trust 2014-5, Floating Rate
Note, 10/25/29 (144A) 2,220,055
5,758,201 4.08 JP Morgan Mortgage Trust 2014-OAK4, Floating
Rate Note, 9/25/44 (144A) 5,947,324
8,223,981 3.50 JP Morgan Mortgage Trust 2015-4, Floating Rate
Note, 6/26/45 (144A) 8,451,423
13,325,000 JP Morgan Mortgage Trust 2016-1, 3.5%,
4/25/45 (144A) 13,750,700
6,517,391 0.95 JP Morgan Seasoned Mortgage Trust 2014-1,
Floating Rate Note, 5/25/33 (144A) 6,208,592
5,133,779 3.00 JP Morgan Trust 2015-3 REMICS, Floating Rate
Note, 5/25/45 (144A) 5,223,502
3,267,475 3.72 JP Morgan Trust 2015-3 REMICS, Floating Rate
Note, 5/25/45 (144A) 3,069,272
4,522,070 3.50 JP Morgan Trust 2015-6, Floating Rate Note,
10/25/45 (144A) 4,649,959
1,481,056 2.50 La Hipotecaria Panamanian Mortgage Trust 2010-1,
Floating Rate Note, 9/8/39 (144A) 1,540,298
3,866,363 3.01 La Hipotecaria Panamanian Mortgage Trust 2014-1,
Floating Rate Note, 11/24/42 (144A) 3,943,690
95,116 LB-UBS Commercial Mortgage Trust 2004-C1,
4.568%, 1/15/31 95,303
3,690,000 3.29 LSTAR Commercial Mortgage Trust 2015-3, Floating
Rate Note, 4/20/48 (144A) 3,773,995
1,391,534 2.44 LSTAR Securities Investment 2016-1, Floating Rate
Note, 1/1/21 (144A) 1,354,380
11,410,169 2.46 LSTAR Securities Investment Trust 2015-1, Floating
Rate Note, 1/2/20 (144A) 11,215,166
6,057,434 2.46 LSTAR Securities Investment Trust 2015-3, Floating
Rate Note, 3/2/20 (144A) 5,933,286
9,392,321 2.46 LSTAR Securities Investment Trust 2015-4, Floating
Rate Note, 4/1/20 (144A) 9,204,474
1,796,088 2.46 LSTAR Securities Investment Trust 2015-5, Floating
Rate Note, 4/1/20 (144A) 1,762,411
623,033 0.88 Mellon Residential Funding Corp. Mortgage
Pass-Through Trust Series 2000-TBC3, Floating Rate
Note, 12/15/30 591,400
The accompanying notes are an integral part of these financial statements.
30 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
583,760 1.60 Merrill Lynch Mortgage Investors Trust Series MLCC
2004-D, Floating Rate Note, 9/25/29 $ 559,055
1,367,472 1.01 Merrill Lynch Mortgage Investors Trust Series MLCC
2004-G, Floating Rate Note, 1/25/30 1,282,249
11,450,000 3.00 Mill City Mortgage Trust 2015-1, Floating Rate Note,
6/25/56 (144A) 11,669,885
2,581,471 3.00 Mill City Mortgage Trust 2015-2, Floating Rate Note,
9/25/57 (144A) 2,608,172
3,880,291 Morgan Stanley Capital I Trust 2007-HQ13,
5.569%, 12/15/44 4,013,646
2,385,000 1.07 Morgan Stanley Mortgage Loan Trust 2005-6AR,
Floating Rate Note, 11/25/35 1,953,834
8,408,189 3.75 New Residential Mortgage Loan Trust 2015-1,
Floating Rate Note, 5/28/52 (144A) 8,452,762
4,071,974 3.32 NRP Mortgage Trust 2013-1, Floating Rate Note,
7/25/43 (144A) 4,068,003
4,536,215 3.25 NRP Mortgage Trust 2013-1, Floating Rate Note,
7/25/43 (144A) 4,556,315
4,534,023 3.25 NRP Mortgage Trust 2013-1, Floating Rate Note,
7/25/43 (144A) 4,649,812
6,178,620 3.32 NRP Mortgage Trust 2013-1, Floating Rate Note,
7/25/43 (144A) 6,237,026
107,430 ORES 2014-LV3 LLC, 3.0%, 3/27/24 (144A) (e) 107,430
370,028 3.50 PMT Loan Trust 2013-J1, Floating Rate Note,
9/25/43 (144A) 379,343
288,995 RAAC Series 2004-SP2 Trust, 6.0%, 1/25/32 292,344
189,715 RALI Series 2003-QS14 Trust, 5.0%, 7/25/18 190,460
526,608 RALI Series 2004-QS3 Trust, 5.0%, 3/25/19 523,759
2,593,509 2.10 RESI Finance LP 2003-CB1, Floating Rate Note,
7/9/35 2,260,690
1,534,284 RREF 2015-LT7 LLC, 3.0%, 12/27/32 (144A) 1,534,284
4,536,254 1.81 Sequoia Mortgage Trust 2012-6, Floating Rate Note,
12/26/42 4,364,022
4,277,820 3.64 Sequoia Mortgage Trust 2013-1, Floating Rate Note,
2/25/43 4,159,896
6,887,486 3.57 Sequoia Mortgage Trust 2013-10, Floating Rate
Note, 8/25/43 (144A) 7,117,121
1,961,332 1.85 Sequoia Mortgage Trust 2013-2, Floating Rate
Note, 2/25/43 1,887,551
7,398,762 3.53 Sequoia Mortgage Trust 2013-3, Floating Rate
Note, 3/25/43 7,408,814
7,052,718 2.33 Sequoia Mortgage Trust 2013-4 REMICS, Floating
Rate Note, 4/27/43 6,937,582
1,155,034 1.55 Sequoia Mortgage Trust 2013-4, Floating Rate
Note, 4/27/43 1,119,428
6,150,744 3.50 Sequoia Mortgage Trust 2013-4, Floating Rate
Note, 4/27/43 6,122,326
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 31
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,748,360 2.50 Sequoia Mortgage Trust 2013-5 REMICS, Floating
Rate Note, 5/25/43 (144A) $ 2,721,632
2,455,221 3.00 Sequoia Mortgage Trust 2013-5 REMICS, Floating
Rate Note, 5/25/43 (144A) 2,491,185
8,181,674 2.50 Sequoia Mortgage Trust 2013-6, Floating Rate
Note, 5/26/43 8,030,771
10,173,087 2.50 Sequoia Mortgage Trust 2013-7, Floating Rate
Note, 6/25/43 10,036,412
3,455,534 3.00 Sequoia Mortgage Trust 2013-7, Floating Rate
Note, 6/25/43 3,499,468
555,332 2.25 Sequoia Mortgage Trust 2013-8, Floating Rate
Note, 6/25/43 555,137
6,977,968 3.00 Sequoia Mortgage Trust 2013-8, Floating Rate
Note, 6/25/43 7,000,339
6,233,694 3.54 Sequoia Mortgage Trust 2013-8, Floating Rate
Note, 6/25/43 6,243,614
1,567,033 Sequoia Mortgage Trust 2013-9, 3.5%,
7/27/43 (144A) 1,610,371
684,964 Sequoia Mortgage Trust 2013-9, 3.5%,
7/27/43 (144A) 710,302
5,584,650 3.00 Sequoia Mortgage Trust 2015-1, Floating Rate Note,
1/25/45 (144A) 5,568,768
9,994,584 3.50 Sequoia Mortgage Trust 2015-2, Floating Rate Note,
5/25/45 (144A) 10,295,980
3,872,126 3.73 Sequoia Mortgage Trust 2015-3, Floating Rate Note,
7/25/45 (144A) 3,750,702
8,224,068 3.00 Sequoia Mortgage Trust 2015-4, Floating Rate Note,
11/25/30 (144A) 8,395,202
37,413 3.00 Sequoia Mortgage Trust, Floating Rate Note, 9/25/42 37,844
750,000 3.79 Springleaf Mortgage Loan Trust 2013-1, Floating
Rate Note, 6/25/58 (144A) 748,903
1,131,932 2.25 Springleaf Mortgage Loan Trust 2013-1, Floating
Rate Note, 6/25/58 (144A) 1,130,213
1,744,839 1.19 Structured Asset Mortgage Investments Trust
2003-AR2, Floating Rate Note, 12/19/33 1,666,991
535,975 0.75 Structured Asset Securities Corp., Trust 2005-14,
Floating Rate Note, 7/25/35 441,053
1,435,000 TimberStar Trust I, 5.7467%, 10/15/36 (144A) 1,443,353
6,119,941 Towd Point Mortgage Trust 2015-1, 2.75%,
11/25/60 (144A) 6,202,384
2,763,853 2.90 Velocity Commercial Capital Loan Trust 2015-1,
Floating Rate Note, 6/25/45 (144A) 2,777,673
29,975 VFC 2015-3 LLC, 2.75%, 12/20/31 (144A) 29,960
1,679,112 VOLT XXX LLC, 3.625%, 10/25/57 (Step) (144A) 1,670,918
1,286,817 WaMu Mortgage Pass-Through Certificates Series
2003-S10, 4.5%, 10/25/18 1,289,107
The accompanying notes are an integral part of these financial statements.
32 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,336,392 Wells Fargo Commercial Mortgage Trust 2010-C1,
3.349%, 11/18/43 (144A) $ 1,382,674
1,927,000 Wells Fargo Commercial Mortgage Trust 2012-LC5
REMICS, 3.539%, 10/15/45 2,055,111
4,500,000 Wells Fargo Commercial Mortgage Trust 2014-LC16
REMICS, 3.477%, 8/15/50 4,839,498
5,300,000 2.29 Wells Fargo Commercial Mortgage Trust 2014-TISH
REMICS, Floating Rate Note, 2/15/27 (144A) 5,196,334
3,810,000 Wells Fargo Commercial Mortgage Trust 2015-NXS3,
3.617%, 9/17/57 4,137,766
2,140,472 3.20 Wells Fargo Credit Risk Transfer Securities Trust
2015, Floating Rate Note, 11/25/25 (144A) 2,141,136
350,000 5.39 WF-RBS Commercial Mortgage Trust 2011-C2,
Floating Rate Note, 2/15/44 (144A) 381,978
1,323,000 5.79 WF-RBS Commercial Mortgage Trust 2011-C2,
Floating Rate Note, 2/15/44 (144A) 1,376,840
4,800,000 WFRBS Commercial Mortgage Trust 2013-C16,
4.136%, 9/17/46 5,400,399
547,948 3.50 WinWater Mortgage Loan Trust 2014-1, Floating
Rate Note, 6/20/44 (144A) 562,630
3,448,747 3.50 WinWater Mortgage Loan Trust 2014-2, Floating
Rate Note, 9/20/44 (144A) 3,538,266
5,824,104 3.50 WinWater Mortgage Loan Trust 2015-3 REMICS,
Floating Rate Note, 3/20/45 (144A) 5,982,264
6,940,927 3.50 WinWater Mortgage Loan Trust 2015-4, Floating
Rate Note, 6/20/45 (144A) 7,132,885
7,735,369 3.50 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 7,905,787
4,836,696 3.81 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 4,836,696
4,469,790 3.50 WinWater Mortgage Loan Trust 2016-1, Floating
Rate Note, 1/22/46 (144A) 4,564,988
--------------
$ 656,792,307
--------------
Total Banks $ 661,420,039
------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.3%
Specialized Finance -- 0.1%
1,980,000 2.44 BAMLL Commercial Mortgage Securities Trust
2015-ASHF REMICS, Floating Rate Note,
1/15/28 (144A) $ 1,934,777
------------------------------------------------------------------------------------------------------
Asset Management & Custody Banks -- 0.2%
5,124,591 3.63 Agate Bay Mortgage Trust 2015-5, Floating Rate
Note, 7/25/45 (144A) $ 5,005,845
4,500,000 4.94 COMM 2014-UBS3 Mortgage Trust, Floating Rate
Note, 6/12/47 4,524,218
--------------
$ 9,530,063
--------------
Total Diversified Financials $ 11,464,840
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 33
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Government -- 0.7%
93,643 0.84 Federal Home Loan Mortgage Corp., REMICS,
Floating Rate Note, 12/15/20 $ 94,124
863,306 3.63 Federal National Mortgage Association 2004-T2,
Floating Rate Note, 7/25/43 895,918
1,553 Federal National Mortgage Association REMICS,
10.3%, 4/25/19 1,667
1,509,557 Federal National Mortgage Association REMICS,
3.0%, 6/25/23 1,590,686
540,030 Federal National Mortgage Association REMICS,
4.5%, 6/25/29 583,452
4,504,196 Freddie Mac Whole Loan Securities Trust
2015-SC01, 3.5%, 5/25/45 4,650,668
600,000 5.42 FREMF Mortgage Trust 2010-K8, Floating Rate
Note, 9/25/43 (144A) 663,812
890,000 5.37 FREMF Mortgage Trust 2010-K9 REMICS, Floating
Rate Note, 9/25/45 (144A) 985,720
5,380,000 4.93 FREMF Mortgage Trust 2011-K702, Floating Rate
Note, 4/25/44 (144A) 5,609,060
1,250,000 5.05 FREMF Mortgage Trust 2011-K703, Floating Rate
Note, 7/25/44 (144A) 1,305,854
900,000 3.21 FREMF Mortgage Trust 2013-K502, Floating Rate
Note, 3/27/45 (144A) 904,446
3,000,000 3.16 FREMF Mortgage Trust 2013-K713, Floating Rate
Note, 4/25/46 (144A) 3,048,939
2,684,392 4.47 FREMF Mortgage Trust 2014-KF05 REMICS, Floating
Rate Note, 9/25/21 (144A) 2,493,470
2,010,000 3.95 FREMF Mortgage Trust Class B, Floating Rate Note,
6/25/47 (144A) 2,085,377
838,909 Government National Mortgage Association REMICS,
3.25%, 4/16/27 901,654
1,197,452 Government National Mortgage Association,
3.0%, 4/20/41 1,247,190
926,031 Government National Mortgage Association,
5.25%, 8/16/35 1,035,051
467,804 Vendee Mortgage Trust 2008-1, 5.25%, 1/15/32 520,077
930,322 Vendee Mortgage Trust 2010-1, 4.25%, 2/15/35 1,003,085
--------------
$ 29,620,250
--------------
Total Government $ 29,620,250
------------------------------------------------------------------------------------------------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $697,335,279) $ 702,505,129
------------------------------------------------------------------------------------------------------
CORPORATE BONDS -- 40.9%
ENERGY -- 5.0%
Oil & Gas Drilling -- 0.4%
7,241,000 Ensco Plc, 4.5%, 10/1/24 $ 4,851,470
1,339,000 Pride International, Inc., 6.875%, 8/15/20 1,277,942
6,185,000 Rowan Companies, Inc., 4.75%, 1/15/24 5,025,312
The accompanying notes are an integral part of these financial statements.
34 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Oil & Gas Drilling -- (continued)
5,505,000 Rowan Companies, Inc., 5.85%, 1/15/44 $ 3,688,900
--------------
$ 14,843,624
------------------------------------------------------------------------------------------------------
Oil & Gas Equipment & Services -- 0.1%
2,250,000 Halliburton Co., 7.6%, 8/15/96 (144A) $ 2,947,813
------------------------------------------------------------------------------------------------------
Integrated Oil & Gas -- 0.8%
4,175,000 BP Capital Markets Plc, 3.062%, 3/17/22 $ 4,313,865
5,150,000 Exxon Mobil Corp., 4.114%, 3/1/46 5,808,268
5,965,000 Petroleos Mexicanos, 3.5%, 1/30/23 5,616,644
4,750,000 Sinopec Group Overseas Development 2014, Ltd.,
4.375%, 4/10/24 (144A) 5,132,617
10,050,000 Sinopec Group Overseas Development 2015, Ltd.,
2.5%, 4/28/20 (144A) 10,158,409
--------------
$ 31,029,803
------------------------------------------------------------------------------------------------------
Oil & Gas Exploration & Production -- 0.6%
6,585,000 Canadian Natural Resources, Ltd., 6.25%, 3/15/38 $ 7,158,349
2,830,000 Canadian Natural Resources, Ltd., 6.75%, 2/1/39 3,167,206
5,275,000 CNOOC Nexen Finance 2014 ULC, 4.25%, 4/30/24 5,590,334
2,360,000 Newfield Exploration Co., 5.375%, 1/1/26 2,295,100
1,400,000 Newfield Exploration Co., 5.625%, 7/1/24 1,400,000
172,377 Ras Laffan Liquefied Natural Gas Co., Ltd. III,
5.832%, 9/30/16 (144A) 174,270
4,150,000 WPX Energy, Inc., 7.5%, 8/1/20 4,142,198
--------------
$ 23,927,457
------------------------------------------------------------------------------------------------------
Oil & Gas Refining & Marketing -- 0.4%
5,467,000 EnLink Midstream Partners LP, 4.4%, 4/1/24 $ 5,128,396
3,800,000 Motiva Enterprises LLC, 6.85%, 1/15/40 (144A) 4,554,505
2,925,000 Valero Energy Corp., 6.625%, 6/15/37 3,209,231
2,890,000 Valero Energy Corp., 9.375%, 3/15/19 3,453,616
--------------
$ 16,345,748
------------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- 2.7%
10,900,000 Boardwalk Pipelines LP, 4.95%, 12/15/24 $ 10,720,978
2,575,000 Boardwalk Pipelines LP, 5.95%, 6/1/26 2,704,821
5,425,000 Buckeye Partners LP, 4.15%, 7/1/23 5,459,660
2,338,000 Buckeye Partners LP, 5.85%, 11/15/43 2,272,950
2,900,000 DCP Midstream LLC, 9.75%, 3/15/19 (144A) 3,175,500
3,340,000 5.85 DCP Midstream LLC, Floating Rate Note,
5/21/43 (144A) 2,404,800
11,425,000 Enbridge Energy Partners LP, 7.375%, 10/15/45 13,924,859
4,675,000 Kinder Morgan Energy Partners LP, 4.25%, 9/1/24 4,733,582
8,235,000 Kinder Morgan, Inc. Delaware, 5.05%, 2/15/46 7,827,516
7,335,000 Kinder Morgan, Inc. Delaware, 5.55%, 6/1/45 7,452,932
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 35
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- (continued)
3,650,000 MPLX LP, 4.875%, 12/1/24 (144A) $ 3,555,688
1,720,000 MPLX LP, 4.875%, 6/1/25 (144A) 1,680,996
3,650,000 MPLX LP, 5.5%, 2/15/23 (144A) 3,708,389
9,165,000 Plains All American Pipeline LP, 4.65%, 10/15/25 9,253,415
5,300,000 Plains All American Pipeline LP, 4.9%, 2/15/45 4,737,840
2,475,000 Spectra Energy Capital LLC, 6.2%, 4/15/18 2,633,110
1,500,000 Spectra Energy Capital LLC, 6.75%, 7/15/18 1,601,176
2,200,000 Sunoco Logistics Partners Operations LP,
6.1%, 2/15/42 2,285,279
13,550,000 The Williams Companies, Inc., 5.75%, 6/24/44 11,551,375
2,475,000 The Williams Companies, Inc., 7.75%, 6/15/31 2,499,750
4,425,000 TransCanada PipeLines, Ltd., 1.875%, 1/12/18 4,446,222
--------------
$ 108,630,838
--------------
Total Energy $ 197,725,283
------------------------------------------------------------------------------------------------------
MATERIALS -- 1.9%
Commodity Chemicals -- 0.1%
3,600,000 Methanex Corp., 4.25%, 12/1/24 $ 3,212,669
40,000 NOVA Chemicals Corp., 5.0%, 5/1/25 (144A) 39,600
--------------
$ 3,252,269
------------------------------------------------------------------------------------------------------
Diversified Chemicals -- 0.1%
4,845,000 CF Industries, Inc., 5.15%, 3/15/34 $ 4,730,362
980,000 Eastman Chemical Co., 4.8%, 9/1/42 1,015,785
--------------
$ 5,746,147
------------------------------------------------------------------------------------------------------
Fertilizers & Agricultural Chemicals -- 0.4%
2,800,000 Agrium, Inc., 4.125%, 3/15/35 $ 2,703,963
10,800,000 Agrium, Inc., 5.25%, 1/15/45 11,584,782
--------------
$ 14,288,745
------------------------------------------------------------------------------------------------------
Specialty Chemicals -- 0.1%
3,025,000 The Valspar Corp., 3.3%, 2/1/25 $ 3,048,423
------------------------------------------------------------------------------------------------------
Construction Materials -- 0.3%
10,600,000 CRH America, Inc., 3.875%, 5/18/25 (144A) $ 11,184,770
475,000 Holcim US Finance Sarl & Cie SCS, 6.0%,
12/30/19 (144A) 530,574
--------------
$ 11,715,344
------------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.2%
2,275,000 Ball Corp., 4.0%, 11/15/23 $ 2,240,875
4,000,000 Ball Corp., 5.25%, 7/1/25 4,170,000
1,725,000 Beverage Packaging Holdings Luxembourg II SA,
5.625%, 12/15/16 (144A) 1,729,312
--------------
$ 8,140,187
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
36 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Paper Packaging -- 0.3%
6,975,000 International Paper Co., 3.65%, 6/15/24 $ 7,375,749
1,025,000 International Paper Co., 3.8%, 1/15/26 1,075,676
2,400,000 International Paper Co., 6.0%, 11/15/41 2,844,689
--------------
$ 11,296,114
------------------------------------------------------------------------------------------------------
Diversified Metals & Mining -- 0.1%
1,375,000 Amsted Industries, Inc., 5.375%, 9/15/24 (144A) $ 1,347,500
1,850,000 Freeport-McMoRan, Inc., 3.875%, 3/15/23 1,618,750
1,650,000 Freeport-McMoRan, Inc., 4.55%, 11/14/24 1,443,750
--------------
$ 4,410,000
------------------------------------------------------------------------------------------------------
Steel -- 0.3%
3,550,000 Commercial Metals Co., 4.875%, 5/15/23 $ 3,354,750
1,175,000 Glencore Funding LLC, 4.125%, 5/30/23 (144A) 1,081,000
4,400,000 Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4,498,274
3,135,000 Worthington Industries, Inc., 4.55%, 4/15/26 3,239,709
--------------
$ 12,173,733
------------------------------------------------------------------------------------------------------
Paper Products -- 0.0%+
1,285,000 Clearwater Paper Corp., 4.5%, 2/1/23 $ 1,248,056
--------------
Total Materials $ 75,319,018
------------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 1.7%
Aerospace & Defense -- 0.6%
2,600,000 DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) $ 2,418,000
1,915,000 Lockheed Martin Corp., 3.1%, 1/15/23 2,018,381
7,460,000 Spirit AeroSystems, Inc., 3.85%, 6/15/26 7,709,164
10,250,000 United Technologies Corp., 1.778%, 5/4/18 (Step) 10,342,086
--------------
$ 22,487,631
------------------------------------------------------------------------------------------------------
Building Products -- 0.7%
7,225,000 Fortune Brands Home & Security, Inc., 3.0%, 6/15/20 $ 7,463,418
8,595,000 Masco Corp., 4.375%, 4/1/26 8,865,657
1,050,000 Masco Corp., 4.45%, 4/1/25 1,086,855
825,000 Masco Corp., 5.95%, 3/15/22 922,457
5,150,000 Owens Corning, 4.2%, 12/1/24 5,388,852
3,600,000 5.75 Stanley Black & Decker, Inc., Floating Rate
Note, 12/15/53 3,771,000
--------------
$ 27,498,239
------------------------------------------------------------------------------------------------------
Construction & Engineering -- 0.0%+
1,368,000 Amsted Industries, Inc., 5.0%, 3/15/22 (144A) $ 1,368,000
604,000 Valmont Industries, Inc., 6.625%, 4/20/20 683,797
--------------
$ 2,051,797
------------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.1%
2,950,000 Tyco Electronics Group SA, 6.55%, 10/1/17 $ 3,136,054
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 37
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Construction & Farm Machinery & Heavy
Trucks -- 0.1%
3,727,000 Cummins, Inc., 5.65%, 3/1/98 $ 4,197,083
------------------------------------------------------------------------------------------------------
Trading Companies & Distributors -- 0.2%
2,260,000 GATX Corp., 5.2%, 3/15/44 $ 2,341,435
5,660,000 GATX Corp., 6.0%, 2/15/18 6,020,836
--------------
$ 8,362,271
--------------
Total Capital Goods $ 67,733,075
------------------------------------------------------------------------------------------------------
COMMERCIAL SERVICES & SUPPLIES -- 0.2%
Environmental & Facilities Services -- 0.1%
2,678,000 Republic Services, Inc., 2.9%, 7/1/26 $ 2,715,945
------------------------------------------------------------------------------------------------------
Research & Consulting Services -- 0.1%
5,415,000 Verisk Analytics, Inc., 5.5%, 6/15/45 $ 5,568,553
--------------
Total Commercial Services & Supplies $ 8,284,498
------------------------------------------------------------------------------------------------------
TRANSPORTATION -- 2.6%
Airlines -- 0.8%
4,403,821 Air Canada 2013-1 Class A Pass Through Trust,
4.125%, 11/15/26 (144A) $ 4,535,935
3,962,082 Air Canada 2015-1 Class A Pass Through Trust,
3.6%, 3/15/27 (144A) 4,026,466
4,300,000 American Airlines 2015-2 Class AA Pass Through
Trust, 3.6%, 9/22/27 4,520,375
2,575,000 American Airlines 2015-2 Class B Pass Through
Trust, 4.4%, 9/22/23 2,581,438
4,370,000 Southwest Airlines Co., 2.65%, 11/5/20 4,510,535
2,350,000 Southwest Airlines Co., 2.75%, 11/6/19 2,429,376
6,260,000 United Airlines 2016-1 Class AA Pass Through
Trust, 3.1%, 7/7/28 6,432,150
1,307,314 US Airways 2013-1 Class A Pass Through Trust,
3.95%, 5/15/27 1,379,216
--------------
$ 30,415,491
------------------------------------------------------------------------------------------------------
Railroads -- 1.3%
14,485,000 Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 $ 15,774,571
10,335,000 CSX Corp., 3.35%, 11/1/25 10,983,470
6,650,000 TTX Co., 3.6%, 1/15/25 (144A) 6,953,306
3,250,000 TTX Co., 4.2%, 7/1/46 (144A) 3,400,118
13,215,000 Union Pacific Corp., 3.375%, 2/1/35 13,313,544
--------------
$ 50,425,009
------------------------------------------------------------------------------------------------------
Trucking -- 0.3%
529,000 Asciano Finance, Ltd., 4.625%, 9/23/20 (144A) $ 544,257
1,400,000 Penske Truck Leasing Co., Lp, 3.3%, 4/1/21 (144A) 1,439,164
8,850,000 Penske Truck Leasing Co., Lp, 3.375%, 2/1/22 (144A) 9,025,168
--------------
$ 11,008,589
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
38 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Highways & Railtracks -- 0.2%
3,950,000 ERAC USA Finance LLC, 3.3%, 12/1/26 (144A) $ 4,038,681
1,300,000 ERAC USA Finance LLC, 3.8%, 11/1/25 (144A) 1,390,753
4,600,000 ERAC USA Finance LLC, 4.5%, 2/15/45 (144A) 4,860,139
--------------
$ 10,289,573
--------------
Total Transportation $ 102,138,662
------------------------------------------------------------------------------------------------------
AUTOMOBILES & COMPONENTS -- 0.4%
Automobile Manufacturers -- 0.4%
4,975,000 Ford Motor Credit Co., LLC, 2.24%, 6/15/18 $ 5,025,158
6,425,000 Ford Motor Credit Co., LLC, 3.219%, 1/9/22 6,581,372
5,000,000 Toyota Motor Credit Corp., 2.125%, 7/18/19 5,133,720
--------------
$ 16,740,250
--------------
Total Automobiles & Components $ 16,740,250
------------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.1%
Homebuilding -- 0.1%
5,120,000 Lennar Corp., 4.75%, 4/1/21 $ 5,324,800
--------------
Total Consumer Durables & Apparel $ 5,324,800
------------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Education Services -- 0.2%
2,600,000 President and Fellows of Harvard College,
2.3%, 10/1/23 $ 2,691,616
3,550,000 Tufts University, 5.017%, 4/15/12 4,175,304
--------------
$ 6,866,920
------------------------------------------------------------------------------------------------------
Specialized Consumer Services -- 0.0%+
1,300,000 Sotheby's, 5.25%, 10/1/22 (144A) $ 1,251,250
--------------
Total Consumer Services $ 8,118,170
------------------------------------------------------------------------------------------------------
MEDIA -- 0.9%
Cable & Satellite -- 0.6%
6,995,000 Charter Communications Operating LLC, 6.384%,
10/23/35 (144A) $ 8,283,374
10,310,000 Comcast Corp., 5.65%, 6/15/35 13,423,012
2,440,000 Sirius XM Radio, Inc., 5.375%, 7/15/26 (144A) 2,421,700
650,000 Time Warner Cable, Inc., 6.55%, 5/1/37 757,389
--------------
$ 24,885,475
------------------------------------------------------------------------------------------------------
Movies & Entertainment -- 0.3%
8,300,000 Time Warner, Inc., 4.7%, 1/15/21 $ 9,257,878
--------------
Total Media $ 34,143,353
------------------------------------------------------------------------------------------------------
RETAILING -- 0.9%
Catalog Retail -- 0.2%
7,300,000 QVC, Inc., 4.45%, 2/15/25 $ 7,324,601
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 39
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Internet Retail -- 0.5%
5,900,000 Expedia, Inc., 4.5%, 8/15/24 $ 6,061,129
375,000 Expedia, Inc., 5.0%, 2/15/26 (144A) 388,772
3,800,000 Expedia, Inc., 5.95%, 8/15/20 4,250,562
1,925,000 The Priceline Group, Inc., 3.6%, 6/1/26 1,988,140
7,375,000 The Priceline Group, Inc., 3.65%, 3/15/25 7,812,603
--------------
$ 20,501,206
------------------------------------------------------------------------------------------------------
Home Improvement Retail -- 0.1%
4,520,000 The Home Depot, Inc., 2.625%, 6/1/22 $ 4,730,356
------------------------------------------------------------------------------------------------------
Automotive Retail -- 0.1%
3,800,000 AutoZone, Inc., 2.5%, 4/15/21 $ 3,869,764
--------------
Total Retailing $ 36,425,927
------------------------------------------------------------------------------------------------------
FOOD & STAPLES RETAILING -- 0.3%
Drug Retail -- 0.1%
650,000 CVS Health Corp., 2.25%, 8/12/19 $ 667,536
605,212 CVS Pass-Through Trust, 5.298%, 1/11/27 (144A) 655,922
1,329,704 CVS Pass-Through Trust, 5.773%, 1/10/33 (144A) 1,481,675
--------------
$ 2,805,133
------------------------------------------------------------------------------------------------------
Food Retail -- 0.2%
6,172,000 The Kroger Co., 2.95%, 11/1/21 $ 6,484,729
1,300,000 The Kroger Co., 3.4%, 4/15/22 1,390,627
--------------
$ 7,875,356
--------------
Total Food & Staples Retailing $ 10,680,489
------------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 1.1%
Brewers -- 0.1%
4,350,000 1.90 Anheuser-Busch InBev Finance, Inc., Floating Rate
Note, 2/1/21 $ 4,481,909
------------------------------------------------------------------------------------------------------
Distillers & Vintners -- 0.2%
9,100,000 Pernod Ricard SA, 3.25%, 6/8/26 (144A) $ 9,313,695
------------------------------------------------------------------------------------------------------
Agricultural Products -- 0.1%
5,175,000 Viterra, Inc., 5.95%, 8/1/20 (144A) $ 5,187,477
------------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.5%
9,100,000 Grupo Bimbo SAB de CV, 3.875%, 6/27/24 (144A) $ 9,469,860
8,315,000 Kraft Heinz Foods Co., 3.5%, 6/6/22 8,843,152
--------------
$ 18,313,012
------------------------------------------------------------------------------------------------------
Tobacco -- 0.2%
7,275,000 Reynolds American, Inc., 4.45%, 6/12/25 $ 8,147,549
--------------
Total Food, Beverage & Tobacco $ 45,443,642
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
40 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.8%
Health Care Equipment -- 0.5%
11,300,000 Becton Dickinson and Co., 3.734%, 12/15/24 $ 12,171,705
7,300,000 Medtronic, Inc., 4.625%, 3/15/45 8,584,004
--------------
$ 20,755,709
------------------------------------------------------------------------------------------------------
Health Care Services -- 0.1%
2,600,000 Catholic Health Initiatives, 4.35%, 11/1/42 $ 2,622,846
------------------------------------------------------------------------------------------------------
Health Care Facilities -- 0.1%
1,000,000 HCA, Inc., 5.25%, 6/15/26 $ 1,038,125
2,400,000 NYU Hospitals Center, 4.428%, 7/1/42 2,623,918
--------------
$ 3,662,043
------------------------------------------------------------------------------------------------------
Managed Health Care -- 0.1%
4,325,000 Aetna, Inc., 2.4%, 6/15/21 $ 4,412,720
--------------
Total Health Care Equipment & Services $ 31,453,318
------------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE
SCIENCES -- 1.7%
Biotechnology -- 1.0%
925,000 AbbVie, Inc., 2.85%, 5/14/23 $ 937,571
8,430,000 AbbVie, Inc., 3.6%, 5/14/25 8,833,207
12,900,000 Baxalta, Inc., 3.6%, 6/23/22 13,313,690
3,550,000 Biogen, Inc., 3.625%, 9/15/22 3,768,357
4,275,000 Biogen, Inc., 4.05%, 9/15/25 4,601,828
7,550,000 Gilead Sciences, Inc., 4.5%, 2/1/45 8,229,613
--------------
$ 39,684,266
------------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.4%
3,150,000 Johnson & Johnson, 4.375%, 12/5/33 $ 3,794,821
9,685,000 Mylan NV, 3.95%, 6/15/26 (144A) 9,801,104
3,300,000 Perrigo Finance Unlimited Co., 3.5%, 3/15/21 3,414,569
--------------
$ 17,010,494
------------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.3%
894,000 Agilent Technologies, Inc., 6.5%, 11/1/17 $ 945,662
11,200,000 Thermo Fisher Scientific, Inc., 3.0%, 4/15/23 11,433,766
--------------
$ 12,379,428
--------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 69,074,188
------------------------------------------------------------------------------------------------------
BANKS -- 6.1%
Diversified Banks -- 5.5%
6,485,000 Australia & New Zealand Banking Group, Ltd.,
4.5%, 3/19/24 (144A) $ 6,761,267
------------------------------------------------------------------------------------------------------
4,600,000 9.00 Banco Bilbao Vizcaya Argentaria SA, Floating Rate
Note, 12/31/49 (Perpetual) 4,580,597
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 41
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Diversified Banks -- (continued)
1,150,000 Bank of America Corp., 4.2%, 8/26/24 $ 1,188,776
6,975,000 6.50 Bank of America Corp., Floating Rate Note, 10/23/49 7,428,375
3,950,000 6.10 Bank of America Corp., Floating Rate Note,
12/31/49 (Perpetual) 4,009,250
2,350,000 6.30 Bank of America Corp., Floating Rate Note,
12/31/49 (Perpetual) 2,496,875
9,865,000 Banque Ouest Africaine de Developpement, 5.5%,
5/6/21 (144A) 10,190,940
2,565,000 Barclays Bank Plc, 6.05%, 12/4/17 (144A) 2,686,150
5,250,000 Barclays Plc, 3.65%, 3/16/25 5,048,237
3,000,000 Barclays Plc, 4.375%, 1/12/26 3,029,100
2,400,000 BBVA Bancomer SA Texas, 4.375%, 4/10/24 (144A) 2,509,200
3,815,000 BBVA Bancomer SA Texas, 6.5%, 3/10/21 (144A) 4,186,962
9,350,000 7.62 BNP Paribas SA, Floating Rate Note, 12/31/49
(Perpetual) (144A) 9,350,000
3,860,000 BPCE SA, 4.875%, 4/1/26 (144A) 3,960,194
3,044,000 5.95 Citigroup, Inc., Floating Rate Note (Perpetual) 3,007,852
8,176,000 6.25 Citigroup, Inc., Floating Rate Note,
12/31/49 (Perpetual) 8,400,840
4,485,000 5.90 Citigroup, Inc., Floating Rate Note,
12/31/49 (Perpetual) 4,417,725
3,435,000 Cooperatieve Rabobank UA, 3.875%, 2/8/22 3,731,787
6,425,000 Cooperatieve Rabobank UA, 3.95%, 11/9/22 6,644,613
7,300,000 7.88 Credit Agricole SA, Floating Rate Note, 12/31/49
(Perpetual) (144A) 6,971,500
9,525,000 8.12 Credit Agricole SA, Floating Rate Note, 12/31/49
(Perpetual) (144A) 9,459,887
11,200,000 Credit Suisse Group Funding Guernsey, Ltd.,
3.8%, 9/15/22 11,248,406
7,475,000 Export-Import Bank of Korea, 2.25%, 1/21/20 7,588,755
5,425,000 First Tennessee Bank NA, 2.95%, 12/1/19 5,449,733
1,305,000 HSBC Bank Plc, 7.65%, 5/1/25 1,612,654
3,940,000 HSBC Holdings Plc, 4.25%, 3/14/24 3,986,429
4,525,000 6.88 HSBC Holdings Plc, Floating Rate Note,
12/31/49 (Perpetual) 4,526,317
14,086,000 6.50 ING Groep NV, Floating Rate Note, 12/29/49 12,879,886
1,400,000 Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 1,593,075
8,125,000 7.70 Intesa Sanpaolo S.p.A., Floating Rate Note,
12/29/49 (Perpetual) (144A) 7,007,812
5,125,000 Macquarie Bank, Ltd., 4.875%, 6/10/25 (144A) 5,305,923
840,000 Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 971,059
4,500,000 Nordea Bank AB, 4.25%, 9/21/22 (144A) 4,755,906
5,600,000 6.12 Nordea Bank AB, Floating Rate Note, 12/31/49
(Perpetual) (144A) 5,292,000
3,500,000 Royal Bank of Scotland Group Plc, 4.8%, 4/5/26 3,559,745
The accompanying notes are an integral part of these financial statements.
42 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Diversified Banks -- (continued)
8,075,000 7.50 Royal Bank of Scotland Group Plc, Floating Rate
Note, 12/31/49 (Perpetual) $ 7,388,625
315,789 3.40 SBP DPR Finance Co., Floating Rate Note,
3/15/17 (144A) 315,646
2,600,000 4.50 Scotiabank Peru SAA, Floating Rate Note,
12/13/27 (144A) 2,626,000
4,800,000 Standard Chartered Plc, 3.95%, 1/11/23 (144A) 4,653,998
1,800,000 Sumitomo Mitsui Banking Corp., 1.75%, 1/16/18 1,811,108
11,675,000 The Bank of Tokyo-Mitsubishi UFJ, Ltd., 2.3%,
3/5/20 (144A) 11,859,045
3,540,000 Wells Fargo Bank NA, 6.0%, 11/15/17 3,766,656
--------------
$ 218,258,905
------------------------------------------------------------------------------------------------------
Regional Banks -- 0.5%
7,000,000 Credit Suisse AG New York NY, 1.75%, 1/29/18 $ 7,005,817
7,378,000 KeyCorp, 5.1%, 3/24/21 8,299,682
1,435,000 PNC Bank NA, 6.0%, 12/7/17 1,521,747
1,025,000 SunTrust Banks, Inc., 3.5%, 1/20/17 1,036,413
890,000 6.75 The PNC Financial Services Group, Inc., Floating
Rate Note (Perpetual) 993,374
--------------
$ 18,857,033
------------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- 0.1%
2,300,000 Astoria Financial Corp., 5.0%, 6/19/17 $ 2,357,212
--------------
Total Banks $ 239,473,150
------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 3.9%
Other Diversified Financial Services -- 0.5%
5,930,000 Carlyle Holdings II Finance LLC, 5.625%,
3/30/43 (144A) $ 6,518,754
1,392,000 General Electric Co., 5.3%, 2/11/21 1,614,982
1,835,618 Grain Spectrum Funding II LLC, 3.29%,
10/10/19 (144A) 1,837,912
7,189,000 6.75 JPMorgan Chase & Co., Floating Rate Note, 8/29/49 7,916,886
1,250,000 0.00 Tiers Trust, Floating Rate Note, 10/15/97 (144A) (d) 1,232,242
--------------
$ 19,120,776
------------------------------------------------------------------------------------------------------
Specialized Finance -- 0.7%
3,725,000 Aviation Capital Group Corp., 6.75%, 4/6/21 (144A) $ 4,209,250
3,200,000 BM&FBovespa SA - Bolsa de Valores Mercadorias e
Futuros, 5.5%, 7/16/20 (144A) 3,352,000
2,980,000 Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,344,430
2,000,000 National Rural Utilities Cooperative Finance Corp.,
5.45%, 2/1/18 2,133,618
5,480,000 Nationstar Mortgage LLC, 6.5%, 6/1/22 4,548,400
11,625,000 USAA Capital Corp., 2.45%, 8/1/20 (144A) 12,013,891
--------------
$ 29,601,589
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 43
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Consumer Finance -- 1.0%
2,250,000 Ally Financial, Inc., 4.625%, 3/30/25 $ 2,213,438
5,050,000 Ally Financial, Inc., 5.125%, 9/30/24 5,144,688
1,125,000 Ally Financial, Inc., 5.75%, 11/20/25 1,127,812
7,695,000 American Honda Finance Corp., 1.2%, 7/14/17 7,706,088
1,465,000 Capital One Bank USA NA, 8.8%, 7/15/19 1,730,679
6,650,000 Capital One Financial Corp., 3.75%, 4/24/24 6,937,852
2,300,000 General Motors Financial Co., Inc., 3.7%, 11/24/20 2,363,041
6,525,000 General Motors Financial Co., Inc., 4.0%, 1/15/25 6,602,060
2,245,000 Hyundai Capital America, 1.45%, 2/6/17 (144A) 2,247,681
3,125,000 Hyundai Capital America, 2.0%, 3/19/18 (144A) 3,144,594
--------------
$ 39,217,933
------------------------------------------------------------------------------------------------------
Asset Management & Custody Banks -- 0.9%
2,525,000 Affiliated Managers Group, Inc., 4.25%, 2/15/24 $ 2,672,733
1,725,000 Blackstone Holdings Finance Co., LLC, 5.0%,
6/15/44 (144A) 1,871,285
6,925,000 Blackstone Holdings Finance Co., LLC, 6.25%,
8/15/42 (144A) 8,641,444
733,000 Eaton Vance Corp., 6.5%, 10/2/17 773,838
7,475,000 KKR Group Finance Co., II LLC, 5.5%, 2/1/43 (144A) 7,789,638
2,400,000 Legg Mason, Inc., 3.95%, 7/15/24 2,426,124
2,425,000 Legg Mason, Inc., 4.75%, 3/15/26 2,557,162
4,290,000 Legg Mason, Inc., 5.625%, 1/15/44 4,407,585
4,250,000 Neuberger Berman Group LLC, 4.875%,
4/15/45 (144A) 3,756,707
--------------
$ 34,896,516
------------------------------------------------------------------------------------------------------
Investment Banking & Brokerage -- 0.5%
1,650,000 KKR Group Finance Co., III LLC, 5.125%,
6/1/44 (144A) $ 1,667,351
2,730,000 Macquarie Group, Ltd., 6.0%, 1/14/20 (144A) 3,043,393
5,100,000 Morgan Stanley, 4.1%, 5/22/23 5,287,996
300,000 Morgan Stanley, 4.875%, 11/1/22 328,517
2,900,000 5.55 Morgan Stanley, Floating Rate Note,
12/31/49 (Perpetual) 2,872,740
643,000 North American Development Bank, 2.3%, 10/10/18 657,362
4,400,000 UBS AG, 7.625%, 8/17/22 4,983,000
--------------
$ 18,840,359
------------------------------------------------------------------------------------------------------
Diversified Capital Markets -- 0.3%
4,031,000 GE Capital International Funding Co., Unlimited Co.,
2.342%, 11/15/20 (144A) $ 4,152,579
6,900,000 2.29 ICBCIL Finance Co., Ltd., Floating Rate Note,
11/13/18 (144A) 6,938,247
--------------
$ 11,090,826
--------------
Total Diversified Financials $ 152,767,999
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
44 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
INSURANCE -- 5.0%
Insurance Brokers -- 0.1%
5,000,000 Brown & Brown, Inc., 4.2%, 9/15/24 $ 5,099,170
------------------------------------------------------------------------------------------------------
Life & Health Insurance -- 0.8%
7,000,000 Aflac, Inc., 3.625%, 11/15/24 $ 7,497,175
2,425,000 Principal Life Global Funding II, 1.5%, 4/18/19 (144A) 2,434,428
4,250,000 Protective Life Corp., 7.375%, 10/15/19 4,932,180
1,090,000 Prudential Financial, Inc., 4.5%, 11/16/21 1,224,255
1,500,000 5.62 Prudential Financial, Inc., Floating Rate Note, 6/15/43 1,564,230
2,140,000 8.88 Prudential Financial, Inc., Floating Rate Note, 6/15/68 2,354,000
1,800,000 5.88 Prudential Financial, Inc., Floating Rate Note, 9/15/42 1,946,250
6,980,000 Teachers Insurance & Annuity Association of America,
6.85%, 12/16/39 (144A) 9,482,023
--------------
$ 31,434,541
------------------------------------------------------------------------------------------------------
Multi-line Insurance -- 0.4%
5,985,000 AIG, 3.875%, 1/15/35 $ 5,730,422
2,335,000 AXA SA, 8.6%, 12/15/30 3,198,950
5,325,000 Liberty Mutual Insurance Co., 7.697%, 10/15/97
(Perpetual) (144A) 6,799,264
--------------
$ 15,728,636
------------------------------------------------------------------------------------------------------
Property & Casualty Insurance -- 0.7%
9,000,000 CNA Financial Corp., 4.5%, 3/1/26 $ 9,579,654
1,850,000 Delphi Financial Group, Inc., 7.875%, 1/31/20 2,140,478
1,300,000 The Allstate Corp., 5.95%, 4/1/36 1,729,650
5,573,000 6.50 The Allstate Corp., Floating Rate Note, 5/15/57 6,018,840
7,300,000 The Hanover Insurance Group, Inc., 4.5%, 4/15/26 7,536,323
--------------
$ 27,004,945
------------------------------------------------------------------------------------------------------
Reinsurance -- 3.0%
450,000 4.05 Acorn Re, Ltd., Floating Rate Note, 7/17/18
(Cat Bond) (144A) $ 464,400
2,750,000 5.78 Alamo Re, Ltd., Floating Rate Note, 6/7/18
(Cat Bond) (144A) 2,833,875
974,064 Altair Re, Variable Rate Notes, 6/30/17 (f)(g) 162,669
500,000 0.00 Aozora Re, Ltd., Floating Rate Note, 4/7/23
(Cat Bond) (144A) 501,150
900,000 Arlington Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 8/31/16 (f)(g) 1,036,980
750,000 Arlington Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 8/31/17 (f)(g) 754,875
500,000 3.82 Atlas IX Capital DAC, Floating Rate Note, 1/17/19
(Cat Bond) (144A) 508,700
2,000,000 Berwick 2016-1 Segregated Account (Kane SAC
Ltd.), Variable Rate Notes, 2/1/18 (f)(g) 2,050,200
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 45
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
800,000 Berwick Segregated Account (Kane SAC Ltd.),
Variable Rate Note, 1/22/16 (f)(g) $ 24,000
1,200,000 0.00 Blue Halo Re, Ltd., Floating Rate Note, 6/21/19
(Cat Bond) (144A) 1,197,840
1,350,000 5.76 Caelus Re IV, Ltd., Floating Rate Note, 3/6/20
(Cat Bond) (144A) 1,382,940
2,350,000 7.11 Caelus Re, Ltd., Floating Rate Note, 4/7/17
(Cat Bond) (144A) 2,396,530
3,600,000 Carnosutie 2016-N,Segregated Account (Kane
SAC Ltd.), Variance Rate Notes, 11/30/20 (f)(g) 3,710,160
3,000,000 Carnoustie Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 2/19/16 (f)(g) 61,200
250,000 4.68 Citrus Re, Ltd., Floating Rate Note, 4/18/17
(Cat Bond) (144A) 248,000
550,000 4.50 Citrus Re, Ltd., Floating Rate Note, 4/24/17
(Cat Bond) (144A) 544,775
925,000 Eden Re II, Ltd., Variable Rate Notes 4/23/19
(144A) (f)(g) 949,142
2,155 Eden Re II, Ltd., Variable Rate Notes, 4/19/18
(144A) (f)(g) 131,152
2,475,000 Eden Re II, Ltd., Variable Rate Notes, 4/23/19 (f)(g) 2,542,072
1,200,000 7.62 Galileo Re, Ltd., Floating Rate Note, 1/9/17
(Cat Bond) (144A) 1,206,840
3,500,000 Gleneagles Segregated Account (Kane SAC Ltd),
Variable Rate Notes, 11/30/20 (f)(g) 3,635,800
2,800,000 2.42 Golden State Re II, Ltd., Floating Rate Note, 1/8/19
(Cat Bond) (144A) 2,765,000
5,100,000 Gullane Segregated Account (Kane SAC Ltd.),
Variable Rate Note 11/30/20 (f)(g) 5,424,870
700,000 3.98 Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19
(Cat Bond) (144A) 709,030
3,000,000 6.96 Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19
(Cat Bond) (144A) 3,043,500
1,500,000 9.46 Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19
(Cat Bond) (144A) 1,517,700
350,000 4.73 Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18
(Cat Bond) (144A) 349,685
3,700,000 4.98 Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18
(Cat Bond) (144A) 3,688,530
3,600,000 Kingsbarns Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 5/15/17 (f)(g) 3,360,240
1,000,000 Lahinch Re, Variable Rate Notes, 5/10/21 (f)(g) 970,600
250,000 9.98 Loma Reinsurance, Ltd., Bermuda, Floating Rate
Note, 1/8/18 (Cat Bond) (144A) 252,775
4,000,000 3.75 Longpoint Re, Ltd. III, Floating Rate Note, 5/23/18
(Cat Bond) (144A) 4,041,600
1,300,000 Lorenz Re, Ltd., Variable Rate Notes, 3/31/18 (f)(g) 91,000
4,050,000 Lorenz Re, Ltd., Variable Rate Notes, 3/31/19 (f)(g) 4,088,880
The accompanying notes are an integral part of these financial statements.
46 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
2,000,000 Madison Re, Variable Rate Notes, 3/31/19 $ 2,018,800
1,000,000 2.30 Merna Re V, Ltd., Floating Rate Note, 4/7/17
(Cat Bond) (144A) 996,400
1,800,000 9.03 Mythen Re, Ltd., Series 2012-2 Class A, Floating
Rate Note, 1/5/17 (Cat Bond) (144A) 1,801,440
1,100,000 7.48 Northshore Re, Ltd., Floating Rate Note, 7/5/16
(Cat Bond) (144A) 1,100,000
3,600,000 Pangaea Re, Series 2015-1, Principal at Risk Notes,
2/1/19 (f)(g) 141,120
4,000,000 Pangaea Re, Series 2015-2, Principal at Risk Notes,
11/30/19 (f)(g) 417,600
3,000,000 Pangaea Re, Variable Rate Notes, 11/30/20 (f)(g) 3,023,400
2,000,000 Pangaea Re, Variable Rate Notes, 12/20/16 (f)(g) 1,837,000
4,500,000 Pangaea Re., Variable Rate Notes, 2/1/20 (f)(g) 4,584,600
2,000,000 Pangaea Re., Variable Rate Notes, 7/1/18 (f)(g) 36,000
3,200,000 4.61 PennUnion Re, Ltd., Floating Rate Note, 12/7/18
(Cat Bond) (144A) 3,216,960
1,000,000 Prestwick Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 7/1/16 (f)(g) 74,900
2,000,000 6.24 Queen Street XI Re Dac, Floating Rate Note,
6/7/19 (Cat Bond) (144A) 2,020,800
1,650,000 6.02 Residential Reinsurance 2012, Ltd., Floating Rate
Note, 12/6/16 (Cat Bond) (144A) 1,638,120
2,800,000 4.77 Residential Reinsurance 2012, Ltd., Floating Rate
Note, 12/6/16 (Cat Bond) (144A) 2,782,080
600,000 9.52 Residential Reinsurance 2013, Ltd., Floating Rate
Note, 6/6/17 (Cat Bond) (144A) 613,980
3,600,000 Resilience Re, Ltd., Variable Rate Notes 4/7/17 3,292,920
1,800,000 Resilience Re, Ltd., Variable Rate Notes, 6/12/17 1,695,240
1,799,960 4.50 Resilience Re, Ltd., Floating Rate Note, 1/9/17 1,799,960
2,550,000 3.23 Sanders Re, Ltd., Floating Rate Note, 5/25/18
(Cat Bond) (144A) 2,523,735
1,250,000 4.21 Sanders Re, Ltd., Floating Rate Note, 5/5/17
(Cat Bond) (144A) 1,240,000
1,200,000 3.73 Sanders Re, Ltd., Floating Rate Note, 5/5/17
(Cat Bond) (144A) 1,190,400
2,000,000 4.03 Sanders Re, Ltd., Floating Rate Note, 6/7/17
(Cat Bond) (144A) 1,991,400
2,400,000 Sector Re V, Ltd., Variable Rate Notes 3/1/21 (f)(g) 2,413,440
400,000 Sector Re V, Ltd., Variable Rate Notes 3/1/21
(144A) (f)(g) 403,640
1,100,000 Sector Re V, Ltd., Variable Rate Notes, 12/1/20
(144A) (f)(g) 1,144,440
1,711 Sector Re V, Ltd., Variable Rate Notes, 3/1/20
(144A) (f)(g) 98,934
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 47
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
12,500 Sector Re V, Ltd., Variable Rate Notes, 3/1/20
(144A) (f)(g) $ 401,852
250,000 Silverton Re, Ltd., Variable Rate Notes, 9/16/16
(144A) (f)(g) 650
1,000,000 Silverton Re, Ltd., Variable Rate Notes, 9/18/17
(144A) (f)(g) 24,700
1,700,000 Silverton Re, Ltd., Variable Rate Notes, 9/18/18
(144A) (f)(g) 1,804,210
1,300,000 St. Andrews Segregated Account (Kane SAC Ltd.),
Variable Rate Notes, 1/22/16 (f)(g) 25,610
2,000,000 St. Andrews Segregated Account (Kane SAC Ltd.),
Variance Rate Notes, 2/1/18 (f)(g) 2,060,200
500,000 5.00 Ursa Re, Ltd., Floating Rate Note, 9/21/18
(Cat Bond) (144A) 505,300
4,000,000 Versutus 2016, Class A-1, Variable Rate Notes,
11/30/20 (f)(g) 3,940,000
2,500,000 Versutus Ltd., Series 2015-A, Variable Rate Notes,
12/31/2017 (f)(g) 36,500
500,000 2.96 Vitality Re IV, Ltd., Floating Rate Note, 1/9/17
(Cat Bond) (144A) 500,100
1,750,000 1.96 Vitality Re V, Ltd., Floating Rate Note, 1/7/19
(Cat Bond) (144A) 1,734,425
2,900,000 2.38 Vitality Re VII, Ltd., Floating Rate Note, 1/7/20
(Cat Bond) (144A) 2,904,350
1,000,000 0.00 Vitality Re VII, Ltd., Floating Rate Note, 1/7/20
(Cat Bond) (144A) 1,016,100
1,400,000 5.88 Wilton Re Finance LLC, Floating Rate Note,
3/30/33 (144A) 1,438,192
--------------
$ 117,136,208
--------------
Total Insurance $ 196,403,500
------------------------------------------------------------------------------------------------------
REAL ESTATE -- 1.9%
Diversified REIT -- 0.9%
8,600,000 Boston Properties LP, 3.65%, 2/1/26 $ 9,165,158
1,475,000 DCT Industrial Operating Partnership LP, 4.5%,
10/15/23 1,562,254
2,175,000 Duke Realty LP, 3.625%, 4/15/23 2,269,267
7,050,000 Duke Realty LP, 3.75%, 12/1/24 7,408,415
9,125,000 Essex Portfolio LP, 3.5%, 4/1/25 9,418,095
3,800,000 Ventas Realty LP, 3.125%, 6/15/23 3,876,627
--------------
$ 33,699,816
------------------------------------------------------------------------------------------------------
Office REIT -- 0.5%
1,225,000 Alexandria Real Estate Equities, Inc., 2.75%, 1/15/20 $ 1,235,737
1,093,000 Alexandria Real Estate Equities, Inc., 3.9%, 6/15/23 1,134,780
1,350,000 Alexandria Real Estate Equities, Inc., 3.95%, 1/15/27 1,391,495
3,095,000 Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22 3,348,171
2,032,000 Highwoods Realty LP, 3.2%, 6/15/21 2,049,713
The accompanying notes are an integral part of these financial statements.
48 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Office REIT -- (continued)
3,325,000 Highwoods Realty LP, 3.625%, 1/15/23 $ 3,372,431
5,377,000 Piedmont Operating Partnership LP, 3.4%, 6/1/23 5,318,896
--------------
$ 17,851,223
------------------------------------------------------------------------------------------------------
Health Care REIT -- 0.3%
4,660,000 Healthcare Realty Trust, Inc., 3.875%, 5/1/25 $ 4,688,510
605,000 Healthcare Realty Trust, Inc., 5.75%, 1/15/21 678,907
7,175,000 Welltower, Inc., 4.25%, 4/1/26 7,713,340
--------------
$ 13,080,757
------------------------------------------------------------------------------------------------------
Residential REIT -- 0.2%
8,750,000 UDR, Inc., 4.0%, 10/1/25 $ 9,483,985
--------------
Total Real Estate $ 74,115,781
------------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.8%
Data Processing & Outsourced Services -- 0.3%
3,750,000 Automatic Data Processing, Inc., 2.25%, 9/15/20 $ 3,896,145
3,000,000 Cardtronics, Inc., 5.125%, 8/1/22 2,970,000
4,550,000 Visa, Inc., 2.2%, 12/14/20 4,691,419
--------------
$ 11,557,564
------------------------------------------------------------------------------------------------------
Application Software -- 0.2%
8,100,000 Adobe Systems, Inc., 3.25%, 2/1/25 $ 8,529,859
------------------------------------------------------------------------------------------------------
Systems Software -- 0.3%
10,600,000 Oracle Corp., 2.5%, 5/15/22 $ 10,831,006
--------------
Total Software & Services $ 30,918,429
------------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.5%
Communications Equipment -- 0.1%
3,840,000 Brocade Communications Systems, Inc.,
4.625%, 1/15/23 $ 3,700,800
------------------------------------------------------------------------------------------------------
Computer Hardware Storage & Peripherals -- 0.2%
4,600,000 NCR Corp., 4.625%, 2/15/21 $ 4,554,000
1,425,000 NCR Corp., 6.375%, 12/15/23 1,453,500
--------------
$ 6,007,500
------------------------------------------------------------------------------------------------------
Electronic Components -- 0.1%
3,675,000 Amphenol Corp., 3.125%, 9/15/21 $ 3,798,892
------------------------------------------------------------------------------------------------------
Electronic Manufacturing Services -- 0.1%
5,500,000 Flextronics International, Ltd., 4.75%, 6/15/25 $ 5,555,000
--------------
Total Technology Hardware & Equipment $ 19,062,192
------------------------------------------------------------------------------------------------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 0.4%
Semiconductor Equipment -- 0.1%
2,500,000 Entegris, Inc., 6.0%, 4/1/22 (144A) $ 2,559,375
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 49
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Semiconductors -- 0.3%
11,075,000 Intel Corp., 4.8%, 10/1/41 $ 12,578,365
--------------
Total Semiconductors & Semiconductor Equipment $ 15,137,740
------------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 1.7%
Integrated Telecommunication Services -- 1.4%
6,200,000 AT&T, Inc., 3.8%, 3/15/22 $ 6,586,403
9,690,000 AT&T, Inc., 3.95%, 1/15/25 10,299,927
2,250,000 AT&T, Inc., 4.75%, 5/15/46 2,305,964
1,895,000 CenturyLink, Inc., 7.5%, 4/1/24 1,911,581
1,445,000 Frontier Communications Corp., 10.5%, 9/15/22 1,528,991
4,300,000 Frontier Communications Corp., 7.125%, 1/15/23 3,848,500
130,000 Frontier Communications Corp., 8.875%, 9/15/20 138,775
4,800,000 GTP Acquisition Partners I LLC, 2.35%, 6/15/45 (144A) 4,789,728
2,750,000 Telefonica Emisiones SAU, 6.221%, 7/3/17 2,871,140
1,500,000 Unison Ground Lease Funding LLC, 2.981%,
3/16/43 (144A) 1,478,535
1,938,000 Verizon Communications, Inc., 5.012%, 8/21/54 2,049,536
5,100,000 Verizon Communications, Inc., 5.15%, 9/15/23 5,939,593
7,254,000 Verizon Communications, Inc., 6.55%, 9/15/43 9,773,938
--------------
$ 53,522,611
------------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.3%
3,015,000 Crown Castle Towers LLC, 4.883%, 8/15/20 (144A) $ 3,286,751
1,625,000 Crown Castle Towers LLC, 6.113%, 1/15/20 (144A) 1,807,585
2,900,000 SBA Tower Trust, 2.877%, 7/15/21 (144A) 2,900,000
3,585,000 T-Mobile USA, Inc., 6.0%, 4/15/24 3,710,475
--------------
$ 11,704,811
--------------
Total Telecommunication Services $ 65,227,422
------------------------------------------------------------------------------------------------------
UTILITIES -- 2.9%
Electric Utilities -- 2.1%
980,000 Commonwealth Edison Co., 6.15%, 9/15/17 $ 1,038,884
488,844 Crockett Cogeneration LP, 5.869%, 3/30/25 (144A) 520,879
4,250,000 Electricite de France SA, 6.0%, 1/22/14 (144A) 4,546,948
2,150,000 5.25 Electricite de France SA, Floating Rate Note
(Perpetual) (144A) 2,063,785
3,365,000 Enel Finance International NV, 5.125%,
10/7/19 (144A) 3,716,198
2,320,000 8.13 Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,641,900
4,250,000 Exelon Corp., 2.85%, 6/15/20 4,384,164
507,799 FPL Energy American Wind LLC, 6.639%,
6/20/23 (144A) 510,416
30,652 FPL Energy Wind Funding LLC, 6.876%,
6/27/17 (144A) 29,119
4,475,000 Iberdrola International BV, 6.75%, 7/15/36 5,889,109
2,725,000 Indiana Michigan Power Co., 4.55%, 3/15/46 3,028,470
5,450,000 Israel Electric Corp., Ltd., 5.0%, 11/12/24 5,817,875
The accompanying notes are an integral part of these financial statements.
50 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Electric Utilities -- (continued)
1,925,000 Israel Electric Corp., Ltd., 7.25%, 1/15/19 (144A) $ 2,139,156
610,000 Israel Electric Corp., Ltd., 9.375%, 1/28/20 (144A) 742,980
910,000 Nevada Power Co., 6.5%, 8/1/18 1,008,373
6,215,000 NextEra Energy Capital Holdings, Inc., 2.3%, 4/1/19 6,335,484
420,612 OrCal Geothermal, Inc., 6.21%, 12/30/20 (144A) 434,808
8,300,000 PPL Capital Funding, Inc., 3.1%, 5/15/26 8,390,196
2,690,000 Public Service Co. of New Mexico, 7.95%, 5/15/18 2,995,622
5,314,286 Southern California Edison Co., 1.845%, 2/1/22 5,280,104
5,425,000 6.25 Southern California Edison Co., Floating Rate
Note (Perpetual) 5,967,500
10,800,000 Southwestern Electric Power Co., 3.9%, 4/1/45 10,714,648
3,731,000 Talen Energy Supply LLC, 6.5%, 6/1/25 3,096,730
--------------
$ 81,293,348
------------------------------------------------------------------------------------------------------
Gas Utilities -- 0.1%
2,125,000 DCP Midstream Operating LP, 5.6%, 4/1/44 $ 1,816,875
2,113,073 Nakilat, Inc., 6.267%, 12/31/33 (144A) 2,358,718
--------------
$ 4,175,593
------------------------------------------------------------------------------------------------------
Multi-Utilities -- 0.4%
7,800,000 Consolidated Edison Co. of New York, Inc.,
4.625%, 12/1/54 $ 8,941,109
5,055,000 New York State Electric & Gas Corp., 6.15%,
12/15/17 (144A) 5,311,966
189,678 Ormat Funding Corp., 8.25%, 12/30/20 187,782
2,700,000 San Diego Gas & Electric Co., 1.914%, 2/1/22 2,702,265
--------------
$ 17,143,122
------------------------------------------------------------------------------------------------------
Independent Power Producers & Energy
Traders -- 0.3%
504,782 Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A) $ 519,894
4,300,000 Colbun SA, 4.5%, 7/10/24 (144A) 4,489,153
1,267,301 Kiowa Power Partners LLC, 5.737%, 3/30/21 (144A) 1,346,831
750,000 NRG Energy, Inc., 7.25%, 5/15/26 (144A) 746,250
782,000 NRG Energy, Inc., 7.875%, 5/15/21 809,370
1,075,000 NRG Energy, Inc., 8.25%, 9/1/20 1,111,625
2,115,085 Panoche Energy Center LLC, 6.885%, 7/31/29 (144A) 2,226,015
--------------
$ 11,249,138
--------------
Total Utilities $ 113,861,201
------------------------------------------------------------------------------------------------------
TOTAL CORPORATE BONDS
(Cost $1,566,904,697) $1,615,572,087
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- 32.0%
307,320 Fannie Mae, 2.5%, 12/1/42 $ 311,150
3,071,627 Fannie Mae, 2.5%, 2/1/43 3,109,905
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 51
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
1,737,046 Fannie Mae, 2.5%, 7/1/30 $ 1,803,380
1,746,577 Fannie Mae, 2.5%, 7/1/30 1,811,135
2,895,482 Fannie Mae, 2.5%, 7/1/30 3,005,994
3,777,915 Fannie Mae, 3.0%, 10/1/30 3,985,267
1,626,705 Fannie Mae, 3.0%, 12/1/42 1,706,445
2,997,582 Fannie Mae, 3.0%, 2/1/43 3,144,135
1,157,957 Fannie Mae, 3.0%, 3/1/45 1,209,306
1,682,646 Fannie Mae, 3.0%, 4/1/31 1,764,987
10,186,781 Fannie Mae, 3.0%, 5/1/30 10,685,273
843,704 Fannie Mae, 3.0%, 5/1/43 884,954
732,583 Fannie Mae, 3.0%, 5/1/46 767,722
1,169,734 Fannie Mae, 3.0%, 5/1/46 1,222,599
8,264,476 Fannie Mae, 3.0%, 6/1/45 8,698,435
2,762,439 Fannie Mae, 3.0%, 7/1/30 2,897,619
818,926 Fannie Mae, 3.0%, 7/1/43 851,594
3,900,000 Fannie Mae, 3.0%, 7/19/16 (TBA) 4,088,602
20,045,813 Fannie Mae, 3.0%, 8/1/42 20,858,837
1,941,426 Fannie Mae, 3.0%, 8/1/43 2,018,958
4,857,019 Fannie Mae, 3.0%, 9/1/28 5,132,908
5,681,396 Fannie Mae, 3.0%, 9/1/42 5,954,826
5,526,814 Fannie Mae, 3.0%, 9/1/43 5,747,392
723,171 Fannie Mae, 3.5%, 10/1/41 774,434
1,986,968 Fannie Mae, 3.5%, 10/1/45 2,105,860
1,532,875 Fannie Mae, 3.5%, 11/1/40 1,620,402
288,996 Fannie Mae, 3.5%, 11/1/42 308,803
14,729,394 Fannie Mae, 3.5%, 11/1/45 15,832,636
1,528,871 Fannie Mae, 3.5%, 12/1/26 1,621,814
695,086 Fannie Mae, 3.5%, 12/1/42 742,717
708,068 Fannie Mae, 3.5%, 12/1/42 756,875
6,040,917 Fannie Mae, 3.5%, 12/1/45 6,379,313
2,955,359 Fannie Mae, 3.5%, 2/1/29 3,133,735
7,631,606 Fannie Mae, 3.5%, 2/1/44 8,062,229
4,207,210 Fannie Mae, 3.5%, 2/1/46 4,441,801
6,878,571 Fannie Mae, 3.5%, 2/1/46 7,263,931
2,436,616 Fannie Mae, 3.5%, 3/1/46 2,573,264
1,103,157 Fannie Mae, 3.5%, 4/1/26 1,169,740
9,449,213 Fannie Mae, 3.5%, 4/1/45 9,973,076
3,136,632 Fannie Mae, 3.5%, 5/1/46 3,354,569
3,777,136 Fannie Mae, 3.5%, 6/1/28 4,006,519
4,330,739 Fannie Mae, 3.5%, 7/1/45 4,572,171
57,125,000 Fannie Mae, 3.5%, 7/14/16 (TBA) 60,275,798
3,917,589 Fannie Mae, 3.5%, 8/1/42 4,145,104
The accompanying notes are an integral part of these financial statements.
52 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
2,628,952 Fannie Mae, 3.5%, 8/1/45 $ 2,775,065
3,820,376 Fannie Mae, 3.5%, 8/1/45 4,036,742
9,901,480 Fannie Mae, 3.5%, 8/1/45 10,647,107
623,023 Fannie Mae, 3.5%, 9/1/26 662,839
4,125,132 Fannie Mae, 3.5%, 9/1/44 4,353,601
6,655,164 Fannie Mae, 3.5%, 9/1/45 7,023,758
10,196,076 Fannie Mae, 3.5%, 9/1/45 10,766,200
1,223,947 Fannie Mae, 3.763%, 12/1/20 1,332,367
567,128 Fannie Mae, 4.0%, 1/1/42 609,740
4,738,545 Fannie Mae, 4.0%, 1/1/42 5,100,628
170,662 Fannie Mae, 4.0%, 1/1/44 182,908
129,399 Fannie Mae, 4.0%, 1/1/45 138,741
265,002 Fannie Mae, 4.0%, 1/1/45 284,024
620,453 Fannie Mae, 4.0%, 1/1/45 665,129
3,277,625 Fannie Mae, 4.0%, 1/1/46 3,530,166
2,220,014 Fannie Mae, 4.0%, 10/1/41 2,389,631
4,178,306 Fannie Mae, 4.0%, 10/1/45 4,489,232
137,290 Fannie Mae, 4.0%, 11/1/44 147,427
179,908 Fannie Mae, 4.0%, 11/1/44 192,817
411,764 Fannie Mae, 4.0%, 11/1/44 441,588
8,591,208 Fannie Mae, 4.0%, 11/1/44 9,207,639
143,725 Fannie Mae, 4.0%, 11/1/45 154,097
5,580,908 Fannie Mae, 4.0%, 11/1/45 6,011,059
1,587,035 Fannie Mae, 4.0%, 12/1/40 1,748,526
1,771,973 Fannie Mae, 4.0%, 12/1/41 1,904,897
5,464,233 Fannie Mae, 4.0%, 12/1/43 5,915,688
79,587 Fannie Mae, 4.0%, 12/1/44 85,316
678,974 Fannie Mae, 4.0%, 12/1/44 727,720
8,602,337 Fannie Mae, 4.0%, 2/1/42 9,246,554
8,578,685 Fannie Mae, 4.0%, 2/1/44 9,194,217
66,124 Fannie Mae, 4.0%, 2/1/45 70,915
313,239 Fannie Mae, 4.0%, 2/1/45 335,764
629,854 Fannie Mae, 4.0%, 2/1/45 675,047
8,252,846 Fannie Mae, 4.0%, 2/1/46 8,891,117
1,564,893 Fannie Mae, 4.0%, 3/1/42 1,698,261
431,353 Fannie Mae, 4.0%, 4/1/25 459,035
3,770,250 Fannie Mae, 4.0%, 4/1/39 4,051,617
1,000,270 Fannie Mae, 4.0%, 4/1/41 1,091,443
1,371,167 Fannie Mae, 4.0%, 4/1/41 1,469,898
541,529 Fannie Mae, 4.0%, 4/1/42 581,465
828,126 Fannie Mae, 4.0%, 4/1/42 890,131
3,406,687 Fannie Mae, 4.0%, 4/1/42 3,669,675
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 53
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
1,994,598 Fannie Mae, 4.0%, 4/1/46 $ 2,143,594
1,193,469 Fannie Mae, 4.0%, 5/1/41 1,283,091
202,793 Fannie Mae, 4.0%, 6/1/42 218,081
675,265 Fannie Mae, 4.0%, 6/1/42 724,090
149,112 Fannie Mae, 4.0%, 6/1/44 159,811
200,414 Fannie Mae, 4.0%, 6/1/44 214,794
14,155 Fannie Mae, 4.0%, 7/1/18 14,659
249,197 Fannie Mae, 4.0%, 7/1/42 267,216
4,763,533 Fannie Mae, 4.0%, 7/1/42 5,198,807
489,983 Fannie Mae, 4.0%, 7/1/44 525,140
8,370,571 Fannie Mae, 4.0%, 7/1/44 8,971,170
22,650,000 Fannie Mae, 4.0%, 7/1/46 (TBA) 24,284,397
11,310,435 Fannie Mae, 4.0%, 8/1/42 12,180,776
342,312 Fannie Mae, 4.0%, 8/1/44 366,874
391,887 Fannie Mae, 4.0%, 8/1/44 420,005
2,149,833 Fannie Mae, 4.0%, 8/1/44 2,313,831
6,570,504 Fannie Mae, 4.0%, 8/1/44 7,055,262
4,233,823 Fannie Mae, 4.0%, 8/1/45 4,592,472
43,004 Fannie Mae, 4.0%, 9/1/20 44,575
8,941,007 Fannie Mae, 4.0%, 9/1/43 9,583,627
67,476 Fannie Mae, 4.0%, 9/1/44 72,317
581,227 Fannie Mae, 4.0%, 9/1/44 623,151
651,919 Fannie Mae, 4.0%, 9/1/44 698,695
10,127,088 Fannie Mae, 4.0%, 9/1/44 10,975,141
5,864,807 Fannie Mae, 4.5%, 1/1/42 6,422,674
7,606,304 Fannie Mae, 4.5%, 1/1/42 8,338,438
8,746,230 Fannie Mae, 4.5%, 1/1/44 9,540,552
123,667 Fannie Mae, 4.5%, 10/1/35 134,898
239,505 Fannie Mae, 4.5%, 10/1/35 262,171
18,351 Fannie Mae, 4.5%, 11/1/20 18,936
264,113 Fannie Mae, 4.5%, 11/1/20 273,983
2,535,817 Fannie Mae, 4.5%, 11/1/40 2,779,560
234,174 Fannie Mae, 4.5%, 12/1/40 258,067
4,121,769 Fannie Mae, 4.5%, 12/1/43 4,574,514
8,971,695 Fannie Mae, 4.5%, 12/1/43 9,786,493
11,514,884 Fannie Mae, 4.5%, 12/1/43 12,568,218
944,065 Fannie Mae, 4.5%, 2/1/41 1,034,878
348,069 Fannie Mae, 4.5%, 2/1/44 380,706
2,247,459 Fannie Mae, 4.5%, 4/1/41 2,463,703
119,378 Fannie Mae, 4.5%, 5/1/41 130,533
3,096,762 Fannie Mae, 4.5%, 5/1/41 3,394,805
4,088,628 Fannie Mae, 4.5%, 5/1/41 4,482,047
The accompanying notes are an integral part of these financial statements.
54 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
1,636,843 Fannie Mae, 4.5%, 7/1/41 $ 1,794,778
1,693,958 Fannie Mae, 4.5%, 7/1/41 1,867,793
1,928,514 Fannie Mae, 4.5%, 7/1/41 2,106,030
702,690 Fannie Mae, 4.5%, 8/1/40 769,380
1,115,087 Fannie Mae, 4.5%, 8/1/40 1,219,452
68,317 Fannie Mae, 5.0%, 1/1/20 70,876
183,721 Fannie Mae, 5.0%, 1/1/20 188,724
268,846 Fannie Mae, 5.0%, 10/1/20 281,190
223,673 Fannie Mae, 5.0%, 10/1/34 244,946
35,095 Fannie Mae, 5.0%, 2/1/20 36,297
13,853 Fannie Mae, 5.0%, 2/1/22 14,821
190,006 Fannie Mae, 5.0%, 2/1/22 201,005
1,082,546 Fannie Mae, 5.0%, 2/1/39 1,207,600
4,072,613 Fannie Mae, 5.0%, 2/1/41 4,538,229
16,716,842 Fannie Mae, 5.0%, 2/1/45 18,642,107
95,533 Fannie Mae, 5.0%, 3/1/23 102,623
397,926 Fannie Mae, 5.0%, 5/1/23 427,631
804,888 Fannie Mae, 5.0%, 6/1/40 898,417
891,393 Fannie Mae, 5.0%, 6/1/40 992,474
162,289 Fannie Mae, 5.0%, 7/1/34 176,633
661,653 Fannie Mae, 5.0%, 7/1/40 736,832
991,866 Fannie Mae, 5.0%, 7/1/40 1,104,648
1,258,436 Fannie Mae, 5.0%, 7/1/40 1,400,100
52,897 Fannie Mae, 5.0%, 8/1/18 54,416
64,132 Fannie Mae, 5.5%, 12/1/17 65,538
381,760 Fannie Mae, 5.5%, 3/1/36 432,310
164,111 Fannie Mae, 5.5%, 5/1/36 184,242
28,070 Fannie Mae, 5.5%, 6/1/33 31,676
236,120 Fannie Mae, 5.5%, 6/1/36 265,944
107,667 Fannie Mae, 5.5%, 7/1/33 122,058
751,261 Fannie Mae, 5.5%, 7/1/34 853,125
165,689 Fannie Mae, 5.5%, 9/1/19 173,030
58,893 Fannie Mae, 5.72%, 11/1/28 61,096
41,450 Fannie Mae, 5.72%, 6/1/29 42,503
61,035 Fannie Mae, 5.75%, 3/1/33 64,067
28,826 Fannie Mae, 5.9%, 11/1/27 29,003
1,925 Fannie Mae, 5.9%, 2/1/28 1,930
84,852 Fannie Mae, 5.9%, 4/1/28 89,435
4,366 Fannie Mae, 6.0%, 1/1/32 5,046
63,540 Fannie Mae, 6.0%, 10/1/32 73,594
16,585 Fannie Mae, 6.0%, 10/1/34 19,052
169,724 Fannie Mae, 6.0%, 10/1/35 193,863
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 55
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
33,856 Fannie Mae, 6.0%, 11/1/33 $ 39,133
13,446 Fannie Mae, 6.0%, 11/1/34 15,489
255,760 Fannie Mae, 6.0%, 11/1/34 292,903
202,893 Fannie Mae, 6.0%, 12/1/35 231,744
35,061 Fannie Mae, 6.0%, 12/1/37 40,122
21,064 Fannie Mae, 6.0%, 2/1/32 24,271
9,070 Fannie Mae, 6.0%, 2/1/33 10,358
4,895 Fannie Mae, 6.0%, 2/1/35 5,623
11,457 Fannie Mae, 6.0%, 2/1/35 13,194
7,146 Fannie Mae, 6.0%, 3/1/32 8,265
88,640 Fannie Mae, 6.0%, 3/1/33 102,431
95,003 Fannie Mae, 6.0%, 4/1/33 109,170
220,614 Fannie Mae, 6.0%, 4/1/35 255,157
45,227 Fannie Mae, 6.0%, 5/1/35 51,646
343,831 Fannie Mae, 6.0%, 6/1/38 396,857
192,580 Fannie Mae, 6.0%, 7/1/33 222,565
377,056 Fannie Mae, 6.0%, 7/1/33 432,972
61,743 Fannie Mae, 6.0%, 7/1/38 70,689
4,467 Fannie Mae, 6.0%, 8/1/32 5,167
156,120 Fannie Mae, 6.0%, 8/1/34 180,815
1,165 Fannie Mae, 6.0%, 9/1/29 1,345
510 Fannie Mae, 6.0%, 9/1/32 590
11,514 Fannie Mae, 6.0%, 9/1/34 13,225
31,913 Fannie Mae, 6.0%, 9/1/34 36,673
50,124 Fannie Mae, 6.0%, 9/1/34 57,242
95,058 Fannie Mae, 6.0%, 9/1/34 109,170
2,804 Fannie Mae, 6.5%, 1/1/31 3,226
8,359 Fannie Mae, 6.5%, 10/1/31 9,619
72,854 Fannie Mae, 6.5%, 10/1/32 83,840
152,934 Fannie Mae, 6.5%, 11/1/37 175,995
50,752 Fannie Mae, 6.5%, 11/1/47 56,834
131,650 Fannie Mae, 6.5%, 12/1/31 151,501
4,829 Fannie Mae, 6.5%, 2/1/32 5,558
62,187 Fannie Mae, 6.5%, 3/1/32 71,564
2,774 Fannie Mae, 6.5%, 4/1/31 3,207
6,370 Fannie Mae, 6.5%, 5/1/31 7,330
72,928 Fannie Mae, 6.5%, 6/1/31 83,924
8,431 Fannie Mae, 6.5%, 7/1/29 9,702
113,470 Fannie Mae, 6.5%, 7/1/32 131,931
29,704 Fannie Mae, 6.5%, 7/1/34 34,183
8,988 Fannie Mae, 6.5%, 8/1/31 10,343
4,040 Fannie Mae, 6.5%, 9/1/31 4,649
The accompanying notes are an integral part of these financial statements.
56 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
8,086 Fannie Mae, 6.5%, 9/1/31 $ 9,429
20,148 Fannie Mae, 7.0%, 1/1/32 24,776
731 Fannie Mae, 7.0%, 12/1/30 780
7,206 Fannie Mae, 7.0%, 12/1/30 8,313
25,190 Fannie Mae, 7.0%, 12/1/31 27,030
9,355 Fannie Mae, 7.0%, 4/1/31 11,542
10,771 Fannie Mae, 7.0%, 9/1/31 12,085
418,478 Federal Home Loan Mortgage Corp., 2.5%, 1/1/30 434,603
245,093 Federal Home Loan Mortgage Corp., 2.5%, 4/1/30 254,556
3,955,699 Federal Home Loan Mortgage Corp., 3.0%, 10/1/29 4,154,171
8,433,487 Federal Home Loan Mortgage Corp., 3.0%, 11/1/42 8,836,312
2,312,020 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 2,427,326
2,075,266 Federal Home Loan Mortgage Corp., 3.0%, 5/1/45 2,162,282
5,669,487 Federal Home Loan Mortgage Corp., 3.0%, 6/1/46 5,916,873
3,861,979 Federal Home Loan Mortgage Corp., 3.0%, 8/1/29 4,082,023
1,553,098 Federal Home Loan Mortgage Corp., 3.0%, 8/1/45 1,611,596
1,216,969 Federal Home Loan Mortgage Corp., 3.0%, 9/1/42 1,273,881
3,467,098 Federal Home Loan Mortgage Corp., 3.5%, 10/1/44 3,656,542
3,488,345 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 3,727,238
10,011,845 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 10,574,791
2,006,702 Federal Home Loan Mortgage Corp., 3.5%, 11/1/28 2,151,194
166,731 Federal Home Loan Mortgage Corp., 3.5%, 11/1/44 175,897
9,570,786 Federal Home Loan Mortgage Corp., 3.5%, 11/1/45 10,138,436
9,277,506 Federal Home Loan Mortgage Corp., 3.5%, 12/1/44 9,784,434
411,793 Federal Home Loan Mortgage Corp., 3.5%, 3/1/26 436,280
4,359,220 Federal Home Loan Mortgage Corp., 3.5%, 3/1/45 4,599,275
2,105,800 Federal Home Loan Mortgage Corp., 3.5%, 4/1/42 2,223,501
1,070,411 Federal Home Loan Mortgage Corp., 3.5%, 4/1/45 1,129,600
10,102,775 Federal Home Loan Mortgage Corp., 3.5%, 7/1/44 10,654,796
252,834 Federal Home Loan Mortgage Corp., 3.5%, 7/1/45 270,382
3,600,972 Federal Home Loan Mortgage Corp., 3.5%, 8/1/43 3,798,142
1,137,309 Federal Home Loan Mortgage Corp., 3.5%, 8/1/44 1,199,453
766,052 Federal Home Loan Mortgage Corp., 3.5%, 9/1/44 818,493
2,505,455 Federal Home Loan Mortgage Corp., 4.0%, 1/1/44 2,682,789
12,948,281 Federal Home Loan Mortgage Corp., 4.0%, 11/1/41 14,254,172
158,653 Federal Home Loan Mortgage Corp., 4.0%, 11/1/42 170,618
2,283,682 Federal Home Loan Mortgage Corp., 4.0%, 12/1/44 2,448,780
671,787 Federal Home Loan Mortgage Corp., 4.0%, 2/1/44 727,179
2,082,665 Federal Home Loan Mortgage Corp., 4.0%, 4/1/45 2,230,321
7,497,770 Federal Home Loan Mortgage Corp., 4.0%, 5/1/44 8,023,040
532,882 Federal Home Loan Mortgage Corp., 4.0%, 6/1/42 572,006
6,953,798 Federal Home Loan Mortgage Corp., 4.0%, 6/1/44 7,440,014
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 57
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
165,740 Federal Home Loan Mortgage Corp., 4.0%, 7/1/42 $ 178,240
1,420,648 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,537,739
1,949,402 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 2,110,112
2,237,745 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 2,422,249
9,964,325 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 10,662,039
4,037,505 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 4,320,515
9,544,229 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 10,307,777
259,276 Federal Home Loan Mortgage Corp., 4.5%, 10/1/20 271,307
4,099,907 Federal Home Loan Mortgage Corp., 4.5%, 11/1/40 4,503,297
270,247 Federal Home Loan Mortgage Corp., 4.5%, 11/1/43 294,673
108,669 Federal Home Loan Mortgage Corp., 4.5%, 3/1/20 113,390
2,405,343 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 2,639,530
6,402,935 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 7,032,201
679,428 Federal Home Loan Mortgage Corp., 5.0%, 10/1/20 710,551
444,981 Federal Home Loan Mortgage Corp., 5.0%, 10/1/38 491,096
15,518 Federal Home Loan Mortgage Corp., 5.0%, 11/1/34 17,239
20,739 Federal Home Loan Mortgage Corp., 5.0%, 12/1/21 22,067
170,775 Federal Home Loan Mortgage Corp., 5.0%, 6/1/35 188,473
455,693 Federal Home Loan Mortgage Corp., 5.0%, 9/1/38 502,919
15,377 Federal Home Loan Mortgage Corp., 5.5%, 1/1/34 17,353
23,260 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 25,888
128,273 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 144,866
38,268 Federal Home Loan Mortgage Corp., 5.5%, 11/1/35 42,747
136,926 Federal Home Loan Mortgage Corp., 5.5%, 12/1/18 141,517
1,540,322 Federal Home Loan Mortgage Corp., 5.5%, 6/1/41 1,729,806
192,500 Federal Home Loan Mortgage Corp., 5.5%, 8/1/35 215,922
266,026 Federal Home Loan Mortgage Corp., 5.5%, 9/1/33 300,651
59,242 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 67,274
109,954 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 126,889
35,235 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 40,689
36,774 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 41,765
100,826 Federal Home Loan Mortgage Corp., 6.0%, 1/1/38 114,851
20,524 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 23,696
41,432 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 47,726
9,195 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 10,443
118,547 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 134,638
123,847 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 140,657
47,223 Federal Home Loan Mortgage Corp., 6.0%, 12/1/36 54,206
4,808 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 5,548
60,769 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 70,051
37,860 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 42,989
184,446 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 212,962
6,102 Federal Home Loan Mortgage Corp., 6.0%, 4/1/33 6,929
The accompanying notes are an integral part of these financial statements.
58 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
34,580 Federal Home Loan Mortgage Corp., 6.0%, 4/1/35 $ 39,275
227,942 Federal Home Loan Mortgage Corp., 6.0%, 4/1/36 263,124
15,077 Federal Home Loan Mortgage Corp., 6.0%, 5/1/17 15,255
168,345 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 191,190
541,291 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 624,983
111,100 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 126,185
123,878 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 140,619
16,002 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 18,377
53,406 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 60,656
118,654 Federal Home Loan Mortgage Corp., 6.0%, 7/1/38 134,760
7,857 Federal Home Loan Mortgage Corp., 6.0%, 8/1/18 8,917
128,559 Federal Home Loan Mortgage Corp., 6.0%, 8/1/34 145,940
124,143 Federal Home Loan Mortgage Corp., 6.0%, 9/1/33 142,630
164 Federal Home Loan Mortgage Corp., 6.5%, 1/1/31 189
311 Federal Home Loan Mortgage Corp., 6.5%, 1/1/33 357
39,575 Federal Home Loan Mortgage Corp., 6.5%, 10/1/33 46,207
346 Federal Home Loan Mortgage Corp., 6.5%, 11/1/30 397
3,515 Federal Home Loan Mortgage Corp., 6.5%, 2/1/33 4,038
497 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 571
5,858 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 6,729
5,384 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 6,185
9,430 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 11,327
223 Federal Home Loan Mortgage Corp., 6.5%, 6/1/32 256
12,849 Federal Home Loan Mortgage Corp., 6.5%, 7/1/32 15,102
882 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 1,065
4,154 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 4,772
74,849 Federal Home Loan Mortgage Corp., 7.0%, 10/1/46 85,528
2,947 Federal Home Loan Mortgage Corp., 7.0%, 11/1/30 3,591
3,763 Federal Home Loan Mortgage Corp., 7.0%, 6/1/31 3,775
73,184 Federal Home Loan Mortgage Corp., 7.0%, 8/1/22 79,474
137,235 Federal Home Loan Mortgage Corp., 7.0%, 9/1/22 146,207
679,949 Federal National Mortgage Association, 3.0%, 12/1/21 713,373
7,285,009 Federal National Mortgage Association, 4.0%, 10/1/45 7,815,203
390,512 Federal National Mortgage Association, 4.0%, 11/1/34 422,850
1,020,828 Federal National Mortgage Association, 5.0%, 8/1/40 1,136,524
897,700 Government National Mortgage Association I,
3.5%, 1/15/44 961,162
16,422,149 Government National Mortgage Association I,
3.5%, 1/15/45 17,445,789
11,011,205 Government National Mortgage Association I,
3.5%, 7/15/42 11,729,725
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 59
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
30,710,000 Government National Mortgage Association I,
3.5%, 7/20/16 (TBA) $ 32,598,186
31,736 Government National Mortgage Association I,
4.0%, 1/15/41 34,214
109,134 Government National Mortgage Association I,
4.0%, 1/15/41 117,638
554,874 Government National Mortgage Association I,
4.0%, 1/15/45 602,140
2,643,750 Government National Mortgage Association I,
4.0%, 1/15/45 2,839,369
3,209,858 Government National Mortgage Association I,
4.0%, 1/15/45 3,450,172
3,638,841 Government National Mortgage Association I,
4.0%, 1/15/45 3,910,061
9,326 Government National Mortgage Association I,
4.0%, 10/15/40 10,051
2,453 Government National Mortgage Association I,
4.0%, 10/15/41 2,636
8,324 Government National Mortgage Association I,
4.0%, 10/15/41 8,943
8,761 Government National Mortgage Association I,
4.0%, 10/15/41 9,414
216,363 Government National Mortgage Association I,
4.0%, 10/15/44 232,370
12,065 Government National Mortgage Association I,
4.0%, 11/15/40 12,969
55,028 Government National Mortgage Association I,
4.0%, 11/15/40 59,183
5,470 Government National Mortgage Association I,
4.0%, 11/15/41 5,875
6,342 Government National Mortgage Association I,
4.0%, 11/15/41 6,822
26,368 Government National Mortgage Association I,
4.0%, 11/15/43 28,334
906,055 Government National Mortgage Association I,
4.0%, 11/15/44 973,653
8,754 Government National Mortgage Association I,
4.0%, 12/15/41 9,435
3,129,705 Government National Mortgage Association I,
4.0%, 12/15/44 3,361,511
12,951 Government National Mortgage Association I,
4.0%, 2/15/41 13,938
35,065 Government National Mortgage Association I,
4.0%, 2/15/42 37,663
485,607 Government National Mortgage Association I,
4.0%, 2/15/42 523,391
The accompanying notes are an integral part of these financial statements.
60 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
2,386,466 Government National Mortgage Association I,
4.0%, 2/15/45 $ 2,563,021
2,784,040 Government National Mortgage Association I,
4.0%, 2/15/45 2,990,009
21,692 Government National Mortgage Association I,
4.0%, 3/15/44 23,297
690,198 Government National Mortgage Association I,
4.0%, 3/15/44 741,261
1,398,144 Government National Mortgage Association I,
4.0%, 3/15/44 1,501,581
5,850,726 Government National Mortgage Association I,
4.0%, 3/15/44 6,283,573
280,842 Government National Mortgage Association I,
4.0%, 3/15/45 301,620
3,548,435 Government National Mortgage Association I,
4.0%, 3/15/45 3,810,955
15,008 Government National Mortgage Association I,
4.0%, 4/15/44 16,118
52,064 Government National Mortgage Association I,
4.0%, 4/15/44 55,917
3,686,277 Government National Mortgage Association I,
4.0%, 4/15/44 3,958,995
7,982 Government National Mortgage Association I,
4.0%, 5/15/39 8,578
4,024,533 Government National Mortgage Association I,
4.0%, 5/15/45 4,323,428
6,926 Government National Mortgage Association I,
4.0%, 6/15/39 7,443
90,184 Government National Mortgage Association I,
4.0%, 6/15/41 97,149
211,090 Government National Mortgage Association I,
4.0%, 7/15/41 227,466
910,040 Government National Mortgage Association I,
4.0%, 7/15/45 979,226
10,527 Government National Mortgage Association I,
4.0%, 8/15/40 11,313
379,055 Government National Mortgage Association I,
4.0%, 8/15/40 408,718
1,771,281 Government National Mortgage Association I,
4.0%, 8/15/43 1,902,393
664,462 Government National Mortgage Association I,
4.0%, 8/15/44 713,852
836,490 Government National Mortgage Association I,
4.0%, 8/15/45 905,479
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 61
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
9,519 Government National Mortgage Association I,
4.0%, 9/15/40 $ 10,230
100,252 Government National Mortgage Association I,
4.0%, 9/15/40 107,785
7,535 Government National Mortgage Association I,
4.0%, 9/15/41 8,114
640,562 Government National Mortgage Association I,
4.0%, 9/15/41 690,342
128,211 Government National Mortgage Association I,
4.0%, 9/15/44 137,710
363,565 Government National Mortgage Association I,
4.0%, 9/15/44 390,585
489,614 Government National Mortgage Association I,
4.0%, 9/15/44 526,002
949,340 Government National Mortgage Association I,
4.0%, 9/15/44 1,019,574
4,193,950 Government National Mortgage Association I,
4.0%, 9/15/44 4,504,544
502,676 Government National Mortgage Association I,
4.5%, 1/15/40 560,628
166,515 Government National Mortgage Association I,
4.5%, 10/15/33 183,450
206,398 Government National Mortgage Association I,
4.5%, 10/15/33 228,955
146,301 Government National Mortgage Association I,
4.5%, 10/15/35 161,528
20,154 Government National Mortgage Association I,
4.5%, 12/15/19 20,912
1,195,834 Government National Mortgage Association I,
4.5%, 12/15/39 1,317,454
36,821 Government National Mortgage Association I,
4.5%, 2/15/34 40,705
16,661 Government National Mortgage Association I,
4.5%, 3/15/35 18,355
61,161 Government National Mortgage Association I,
4.5%, 3/15/35 67,381
14,882 Government National Mortgage Association I,
4.5%, 4/15/18 15,198
42,955 Government National Mortgage Association I,
4.5%, 4/15/20 44,760
21,578 Government National Mortgage Association I,
4.5%, 4/15/35 23,773
211,548 Government National Mortgage Association I,
4.5%, 4/15/35 234,195
117,536 Government National Mortgage Association I,
4.5%, 4/15/38 129,511
The accompanying notes are an integral part of these financial statements.
62 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
915,445 Government National Mortgage Association I,
4.5%, 4/15/41 $ 1,009,179
1,400,887 Government National Mortgage Association I,
4.5%, 5/15/41 1,546,361
33,765 Government National Mortgage Association I,
4.5%, 6/15/19 34,729
235,290 Government National Mortgage Association I,
4.5%, 6/15/25 252,763
1,126,893 Government National Mortgage Association I,
4.5%, 6/15/41 1,243,225
85,806 Government National Mortgage Association I,
4.5%, 7/15/33 94,988
462,852 Government National Mortgage Association I,
4.5%, 7/15/41 510,420
9,137 Government National Mortgage Association I,
4.5%, 8/15/19 9,398
1,379,302 Government National Mortgage Association I,
4.5%, 8/15/41 1,519,582
233,001 Government National Mortgage Association I,
4.5%, 9/15/33 260,246
25,363 Government National Mortgage Association I,
4.5%, 9/15/35 28,085
315,423 Government National Mortgage Association I,
4.5%, 9/15/40 349,223
70,287 Government National Mortgage Association I,
5.0%, 10/15/18 73,603
44,554 Government National Mortgage Association I,
5.0%, 2/15/19 46,838
114,245 Government National Mortgage Association I,
5.0%, 4/15/34 129,267
475,879 Government National Mortgage Association I,
5.0%, 4/15/35 540,968
826 Government National Mortgage Association I,
5.0%, 7/15/19 865
71,107 Government National Mortgage Association I,
5.0%, 7/15/19 74,792
97,217 Government National Mortgage Association I,
5.0%, 7/15/33 109,987
255,240 Government National Mortgage Association I,
5.0%, 7/15/40 285,655
97,845 Government National Mortgage Association I,
5.0%, 9/15/33 110,672
53,606 Government National Mortgage Association I,
5.5%, 1/15/29 60,295
140,276 Government National Mortgage Association I,
5.5%, 1/15/35 160,413
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 63
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
16,019 Government National Mortgage Association I,
5.5%, 10/15/17 $ 16,286
43,532 Government National Mortgage Association I,
5.5%, 10/15/17 44,204
43,769 Government National Mortgage Association I,
5.5%, 10/15/19 45,636
71,545 Government National Mortgage Association I,
5.5%, 10/15/33 82,057
81,170 Government National Mortgage Association I,
5.5%, 10/15/33 93,409
55,761 Government National Mortgage Association I,
5.5%, 10/15/34 63,881
115,694 Government National Mortgage Association I,
5.5%, 10/15/35 131,763
197,478 Government National Mortgage Association I,
5.5%, 10/15/35 226,330
27,281 Government National Mortgage Association I,
5.5%, 11/15/18 28,120
217,112 Government National Mortgage Association I,
5.5%, 11/15/19 226,939
487,219 Government National Mortgage Association I,
5.5%, 11/15/34 557,758
18,922 Government National Mortgage Association I,
5.5%, 12/15/18 19,516
55,353 Government National Mortgage Association I,
5.5%, 2/15/18 56,548
76,922 Government National Mortgage Association I,
5.5%, 2/15/18 78,386
38,652 Government National Mortgage Association I,
5.5%, 2/15/35 44,259
39,588 Government National Mortgage Association I,
5.5%, 2/15/35 44,542
50,253 Government National Mortgage Association I,
5.5%, 2/15/37 57,099
1,378 Government National Mortgage Association I,
5.5%, 4/15/19 1,429
17,065 Government National Mortgage Association I,
5.5%, 4/15/19 17,608
38,346 Government National Mortgage Association I,
5.5%, 4/15/31 43,109
15,899 Government National Mortgage Association I,
5.5%, 6/15/18 16,282
14,610 Government National Mortgage Association I,
5.5%, 6/15/33 16,621
66,972 Government National Mortgage Association I,
5.5%, 6/15/35 75,252
The accompanying notes are an integral part of these financial statements.
64 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
80,225 Government National Mortgage Association I,
5.5%, 7/15/33 $ 92,345
86,283 Government National Mortgage Association I,
5.5%, 7/15/33 99,302
403,590 Government National Mortgage Association I,
5.5%, 7/15/34 464,550
552,844 Government National Mortgage Association I,
5.5%, 7/15/35 646,843
107,469 Government National Mortgage Association I,
5.5%, 8/15/19 112,043
118,424 Government National Mortgage Association I,
5.5%, 8/15/19 122,772
24,692 Government National Mortgage Association I,
5.5%, 8/15/33 28,415
36,409 Government National Mortgage Association I,
5.5%, 8/15/33 41,328
182,205 Government National Mortgage Association I,
5.5%, 8/15/33 209,665
114,442 Government National Mortgage Association I,
5.5%, 9/15/19 119,170
64,539 Government National Mortgage Association I,
5.5%, 9/15/33 73,065
158,435 Government National Mortgage Association I,
5.5%, 9/15/33 178,883
18,152 Government National Mortgage Association I,
5.72%, 4/15/29 20,534
1,366 Government National Mortgage Association I,
6.0%, 1/15/17 1,373
13,747 Government National Mortgage Association I,
6.0%, 1/15/19 14,003
15,592 Government National Mortgage Association I,
6.0%, 1/15/24 17,828
35,923 Government National Mortgage Association I,
6.0%, 1/15/33 42,023
45,863 Government National Mortgage Association I,
6.0%, 1/15/33 52,451
189,847 Government National Mortgage Association I,
6.0%, 1/15/33 222,280
7,594 Government National Mortgage Association I,
6.0%, 10/15/28 8,785
18,337 Government National Mortgage Association I,
6.0%, 10/15/32 20,991
35,743 Government National Mortgage Association I,
6.0%, 10/15/32 40,918
41,655 Government National Mortgage Association I,
6.0%, 10/15/32 48,843
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 65
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
53,825 Government National Mortgage Association I,
6.0%, 10/15/33 $ 63,132
65,847 Government National Mortgage Association I,
6.0%, 10/15/34 75,474
84,520 Government National Mortgage Association I,
6.0%, 10/15/34 98,885
366,740 Government National Mortgage Association I,
6.0%, 10/15/34 428,951
127,601 Government National Mortgage Association I,
6.0%, 10/15/36 148,307
34,507 Government National Mortgage Association I,
6.0%, 11/15/31 40,394
6,816 Government National Mortgage Association I,
6.0%, 11/15/32 7,800
7,666 Government National Mortgage Association I,
6.0%, 11/15/32 8,772
139,486 Government National Mortgage Association I,
6.0%, 11/15/33 160,344
133,497 Government National Mortgage Association I,
6.0%, 11/15/34 156,524
50,703 Government National Mortgage Association I,
6.0%, 11/15/37 58,057
160,928 Government National Mortgage Association I,
6.0%, 12/15/23 183,935
17,019 Government National Mortgage Association I,
6.0%, 12/15/32 19,954
19,505 Government National Mortgage Association I,
6.0%, 12/15/32 22,869
94,060 Government National Mortgage Association I,
6.0%, 12/15/32 108,971
148,647 Government National Mortgage Association I,
6.0%, 12/15/32 170,093
211,255 Government National Mortgage Association I,
6.0%, 12/15/32 242,067
226,092 Government National Mortgage Association I,
6.0%, 12/15/32 258,517
413,058 Government National Mortgage Association I,
6.0%, 12/15/32 483,455
71,360 Government National Mortgage Association I,
6.0%, 2/15/29 82,808
115,298 Government National Mortgage Association I,
6.0%, 2/15/29 135,242
27,438 Government National Mortgage Association I,
6.0%, 2/15/33 31,408
37,841 Government National Mortgage Association I,
6.0%, 2/15/33 44,077
The accompanying notes are an integral part of these financial statements.
66 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
94,655 Government National Mortgage Association I,
6.0%, 2/15/33 $ 108,359
100,144 Government National Mortgage Association I,
6.0%, 2/15/33 115,955
150,014 Government National Mortgage Association I,
6.0%, 2/15/33 177,913
5,045 Government National Mortgage Association I,
6.0%, 3/15/17 5,074
9,080 Government National Mortgage Association I,
6.0%, 3/15/17 9,124
29,354 Government National Mortgage Association I,
6.0%, 3/15/19 33,551
2,100 Government National Mortgage Association I,
6.0%, 3/15/32 2,464
44,779 Government National Mortgage Association I,
6.0%, 3/15/33 52,488
55,650 Government National Mortgage Association I,
6.0%, 3/15/33 64,023
104,037 Government National Mortgage Association I,
6.0%, 3/15/33 122,078
131,092 Government National Mortgage Association I,
6.0%, 3/15/33 153,792
176,333 Government National Mortgage Association I,
6.0%, 3/15/33 206,900
203,322 Government National Mortgage Association I,
6.0%, 3/15/33 236,765
292,306 Government National Mortgage Association I,
6.0%, 3/15/33 342,409
397,062 Government National Mortgage Association I,
6.0%, 3/15/33 468,317
190,913 Government National Mortgage Association I,
6.0%, 3/15/34 225,471
2,283 Government National Mortgage Association I,
6.0%, 4/15/18 2,288
52,071 Government National Mortgage Association I,
6.0%, 4/15/28 60,924
38,305 Government National Mortgage Association I,
6.0%, 4/15/33 44,067
46,806 Government National Mortgage Association I,
6.0%, 4/15/33 53,978
48,558 Government National Mortgage Association I,
6.0%, 4/15/33 55,681
5,055 Government National Mortgage Association I,
6.0%, 5/15/17 5,085
13,684 Government National Mortgage Association I,
6.0%, 5/15/17 13,841
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 67
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
30,849 Government National Mortgage Association I,
6.0%, 5/15/33 $ 35,289
155,268 Government National Mortgage Association I,
6.0%, 5/15/33 182,863
1,190 Government National Mortgage Association I,
6.0%, 6/15/17 1,197
111,845 Government National Mortgage Association I,
6.0%, 6/15/31 128,166
12,896 Government National Mortgage Association I,
6.0%, 6/15/33 15,134
68,767 Government National Mortgage Association I,
6.0%, 6/15/34 80,255
7,798 Government National Mortgage Association I,
6.0%, 8/15/32 9,133
40,371 Government National Mortgage Association I,
6.0%, 8/15/34 46,386
162,878 Government National Mortgage Association I,
6.0%, 8/15/34 186,671
285,639 Government National Mortgage Association I,
6.0%, 8/15/36 331,031
97,444 Government National Mortgage Association I,
6.0%, 8/15/38 111,528
39,638 Government National Mortgage Association I,
6.0%, 9/15/19 40,922
223,167 Government National Mortgage Association I,
6.0%, 9/15/28 260,622
75,304 Government National Mortgage Association I,
6.0%, 9/15/32 87,624
94,744 Government National Mortgage Association I,
6.0%, 9/15/32 108,457
243,502 Government National Mortgage Association I,
6.0%, 9/15/32 278,994
16,747 Government National Mortgage Association I,
6.0%, 9/15/33 19,159
17,768 Government National Mortgage Association I,
6.0%, 9/15/33 20,680
61,176 Government National Mortgage Association I,
6.0%, 9/15/33 71,756
27,434 Government National Mortgage Association I,
6.0%, 9/15/34 32,202
67,066 Government National Mortgage Association I,
6.0%, 9/15/34 77,168
179,480 Government National Mortgage Association I,
6.0%, 9/15/34 210,265
866,883 Government National Mortgage Association I,
6.0%, 9/15/35 1,016,673
The accompanying notes are an integral part of these financial statements.
68 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
24,453 Government National Mortgage Association I,
6.5%, 1/15/29 $ 27,897
28,024 Government National Mortgage Association I,
6.5%, 1/15/32 31,971
91,986 Government National Mortgage Association I,
6.5%, 1/15/32 111,634
4,103 Government National Mortgage Association I,
6.5%, 1/15/33 4,958
412,404 Government National Mortgage Association I,
6.5%, 1/15/33 504,692
15,228 Government National Mortgage Association I,
6.5%, 1/15/34 17,373
625 Government National Mortgage Association I,
6.5%, 1/15/35 674
28,347 Government National Mortgage Association I,
6.5%, 10/15/24 32,340
5,335 Government National Mortgage Association I,
6.5%, 10/15/28 6,086
19,213 Government National Mortgage Association I,
6.5%, 10/15/28 21,919
7,650 Government National Mortgage Association I,
6.5%, 10/15/31 8,727
28,323 Government National Mortgage Association I,
6.5%, 10/15/31 32,312
101,916 Government National Mortgage Association I,
6.5%, 10/15/31 117,045
105,712 Government National Mortgage Association I,
6.5%, 10/15/32 121,483
2,077 Government National Mortgage Association I,
6.5%, 10/15/33 2,379
5,233 Government National Mortgage Association I,
6.5%, 11/15/31 5,970
45,113 Government National Mortgage Association I,
6.5%, 11/15/31 51,467
62,007 Government National Mortgage Association I,
6.5%, 11/15/32 75,134
392,070 Government National Mortgage Association I,
6.5%, 12/15/32 478,815
10,780 Government National Mortgage Association I,
6.5%, 2/15/28 12,298
1,178 Government National Mortgage Association I,
6.5%, 2/15/29 1,344
9,167 Government National Mortgage Association I,
6.5%, 2/15/29 10,459
21,753 Government National Mortgage Association I,
6.5%, 2/15/29 24,817
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 69
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
10,068 Government National Mortgage Association I,
6.5%, 2/15/32 $ 11,536
17,224 Government National Mortgage Association I,
6.5%, 2/15/32 20,830
20,403 Government National Mortgage Association I,
6.5%, 2/15/32 23,276
30,058 Government National Mortgage Association I,
6.5%, 2/15/32 34,292
46,788 Government National Mortgage Association I,
6.5%, 2/15/32 55,225
8,958 Government National Mortgage Association I,
6.5%, 2/15/34 10,220
9,244 Government National Mortgage Association I,
6.5%, 3/15/29 10,546
16,932 Government National Mortgage Association I,
6.5%, 3/15/29 19,317
79,021 Government National Mortgage Association I,
6.5%, 3/15/29 90,310
85,976 Government National Mortgage Association I,
6.5%, 3/15/29 98,086
11,929 Government National Mortgage Association I,
6.5%, 3/15/31 13,609
16,293 Government National Mortgage Association I,
6.5%, 3/15/32 18,588
85,380 Government National Mortgage Association I,
6.5%, 3/15/32 97,407
3,069 Government National Mortgage Association I,
6.5%, 4/15/17 3,088
8,633 Government National Mortgage Association I,
6.5%, 4/15/28 9,849
38,777 Government National Mortgage Association I,
6.5%, 4/15/28 44,238
74,719 Government National Mortgage Association I,
6.5%, 4/15/31 89,768
7,344 Government National Mortgage Association I,
6.5%, 4/15/32 8,379
9,669 Government National Mortgage Association I,
6.5%, 4/15/32 11,031
15,577 Government National Mortgage Association I,
6.5%, 4/15/32 18,125
78,168 Government National Mortgage Association I,
6.5%, 4/15/32 91,269
29,677 Government National Mortgage Association I,
6.5%, 4/15/33 33,857
41,312 Government National Mortgage Association I,
6.5%, 4/15/35 47,131
The accompanying notes are an integral part of these financial statements.
70 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,588 Government National Mortgage Association I,
6.5%, 5/15/29 $ 4,093
6,275 Government National Mortgage Association I,
6.5%, 5/15/29 7,159
71,497 Government National Mortgage Association I,
6.5%, 5/15/29 85,140
18,572 Government National Mortgage Association I,
6.5%, 5/15/31 22,261
19,742 Government National Mortgage Association I,
6.5%, 5/15/31 22,522
39,918 Government National Mortgage Association I,
6.5%, 5/15/31 45,540
4,836 Government National Mortgage Association I,
6.5%, 5/15/32 5,517
5,954 Government National Mortgage Association I,
6.5%, 5/15/32 6,793
11,832 Government National Mortgage Association I,
6.5%, 5/15/32 13,651
16,291 Government National Mortgage Association I,
6.5%, 5/15/32 19,755
31,890 Government National Mortgage Association I,
6.5%, 5/15/33 36,382
5,489 Government National Mortgage Association I,
6.5%, 6/15/17 5,503
10,137 Government National Mortgage Association I,
6.5%, 6/15/28 12,028
26,588 Government National Mortgage Association I,
6.5%, 6/15/29 30,333
8,100 Government National Mortgage Association I,
6.5%, 6/15/31 9,243
10,513 Government National Mortgage Association I,
6.5%, 6/15/32 11,994
13,480 Government National Mortgage Association I,
6.5%, 6/15/32 15,378
14,091 Government National Mortgage Association I,
6.5%, 6/15/32 16,076
114,013 Government National Mortgage Association I,
6.5%, 6/15/34 130,073
6,631 Government National Mortgage Association I,
6.5%, 6/15/35 7,565
33,235 Government National Mortgage Association I,
6.5%, 7/15/31 37,917
9,100 Government National Mortgage Association I,
6.5%, 7/15/32 10,381
10,378 Government National Mortgage Association I,
6.5%, 7/15/32 11,839
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 71
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
30,788 Government National Mortgage Association I,
6.5%, 7/15/32 $ 35,124
143,462 Government National Mortgage Association I,
6.5%, 7/15/32 172,496
51,899 Government National Mortgage Association I,
6.5%, 7/15/35 59,209
65,532 Government National Mortgage Association I,
6.5%, 7/15/35 74,763
8,009 Government National Mortgage Association I,
6.5%, 8/15/28 9,165
61,532 Government National Mortgage Association I,
6.5%, 8/15/31 70,556
3,904 Government National Mortgage Association I,
6.5%, 8/15/32 4,454
45,255 Government National Mortgage Association I,
6.5%, 8/15/32 55,099
54,976 Government National Mortgage Association I,
6.5%, 8/15/32 63,233
19,094 Government National Mortgage Association I,
6.5%, 9/15/31 21,784
20,240 Government National Mortgage Association I,
6.5%, 9/15/32 24,379
40,711 Government National Mortgage Association I,
6.5%, 9/15/32 46,729
43,978 Government National Mortgage Association I,
6.5%, 9/15/32 50,477
4,102 Government National Mortgage Association I,
6.5%, 9/15/34 4,680
6,572 Government National Mortgage Association I,
6.75%, 4/15/26 7,498
18,525 Government National Mortgage Association I,
7.0%, 1/15/28 20,880
139,027 Government National Mortgage Association I,
7.0%, 1/15/31 149,607
505 Government National Mortgage Association I,
7.0%, 10/15/16 505
7,037 Government National Mortgage Association I,
7.0%, 10/15/31 7,296
10,804 Government National Mortgage Association I,
7.0%, 11/15/26 12,827
17,666 Government National Mortgage Association I,
7.0%, 11/15/28 21,492
53,185 Government National Mortgage Association I,
7.0%, 11/15/28 64,952
66,121 Government National Mortgage Association I,
7.0%, 11/15/29 75,728
The accompanying notes are an integral part of these financial statements.
72 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
8,460 Government National Mortgage Association I,
7.0%, 11/15/31 $ 8,951
4,004 Government National Mortgage Association I,
7.0%, 12/15/30 4,265
10,824 Government National Mortgage Association I,
7.0%, 12/15/30 12,204
40,030 Government National Mortgage Association I,
7.0%, 12/15/30 41,000
41,503 Government National Mortgage Association I,
7.0%, 12/15/30 51,037
20,950 Government National Mortgage Association I,
7.0%, 2/15/28 23,384
25,869 Government National Mortgage Association I,
7.0%, 3/15/28 28,914
17,145 Government National Mortgage Association I,
7.0%, 3/15/31 19,530
56,295 Government National Mortgage Association I,
7.0%, 3/15/32 63,853
13,440 Government National Mortgage Association I,
7.0%, 4/15/28 14,351
23,657 Government National Mortgage Association I,
7.0%, 4/15/29 24,624
27,697 Government National Mortgage Association I,
7.0%, 4/15/29 30,909
7,340 Government National Mortgage Association I,
7.0%, 4/15/31 7,485
46,848 Government National Mortgage Association I,
7.0%, 4/15/32 53,647
39,113 Government National Mortgage Association I,
7.0%, 5/15/29 41,539
8,433 Government National Mortgage Association I,
7.0%, 5/15/31 8,958
83,556 Government National Mortgage Association I,
7.0%, 5/15/32 103,362
23,708 Government National Mortgage Association I,
7.0%, 6/15/27 28,036
4,721 Government National Mortgage Association I,
7.0%, 6/15/29 4,738
32,261 Government National Mortgage Association I,
7.0%, 6/15/31 39,966
29,545 Government National Mortgage Association I,
7.0%, 7/15/25 33,816
6,035 Government National Mortgage Association I,
7.0%, 7/15/28 6,056
21,915 Government National Mortgage Association I,
7.0%, 7/15/28 25,550
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 73
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
13,382 Government National Mortgage Association I,
7.0%, 7/15/29 $ 15,411
3,789 Government National Mortgage Association I,
7.0%, 7/15/31 4,672
21,813 Government National Mortgage Association I,
7.0%, 8/15/23 23,749
1,413 Government National Mortgage Association I,
7.0%, 8/15/28 1,705
162,490 Government National Mortgage Association I,
7.0%, 8/15/31 202,791
66,208 Government National Mortgage Association I,
7.0%, 9/15/24 76,232
13,324 Government National Mortgage Association I,
7.0%, 9/15/31 14,259
35,944 Government National Mortgage Association I,
7.0%, 9/15/31 40,766
38,076 Government National Mortgage Association I,
7.5%, 10/15/23 42,537
54,270 Government National Mortgage Association I,
7.5%, 10/15/27 63,174
6,172 Government National Mortgage Association I,
7.5%, 10/15/29 6,506
13,189 Government National Mortgage Association I,
7.5%, 10/15/29 15,083
4,264 Government National Mortgage Association I,
7.5%, 12/15/25 4,432
45,407 Government National Mortgage Association I,
7.5%, 12/15/31 48,153
1,770 Government National Mortgage Association I,
7.5%, 2/15/26 1,851
15,380 Government National Mortgage Association I,
7.5%, 2/15/27 16,806
14,856 Government National Mortgage Association I,
7.5%, 2/15/31 15,106
16,417 Government National Mortgage Association I,
7.5%, 2/15/31 17,093
9,164 Government National Mortgage Association I,
7.5%, 3/15/23 9,987
38,504 Government National Mortgage Association I,
7.5%, 3/15/27 47,042
7,652 Government National Mortgage Association I,
7.5%, 3/15/31 7,968
1,618 Government National Mortgage Association I,
7.5%, 6/15/24 1,679
16,855 Government National Mortgage Association I,
7.5%, 6/15/29 19,304
The accompanying notes are an integral part of these financial statements.
74 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
10,737 Government National Mortgage Association I,
7.5%, 8/15/25 $ 11,039
1,020 Government National Mortgage Association I,
7.5%, 8/15/29 1,027
2,881 Government National Mortgage Association I,
7.5%, 8/15/29 2,956
17,819 Government National Mortgage Association I,
7.5%, 8/15/29 18,924
2,619 Government National Mortgage Association I,
7.5%, 9/15/25 2,628
5,595 Government National Mortgage Association I,
7.5%, 9/15/25 6,309
20,081 Government National Mortgage Association I,
7.5%, 9/15/29 20,080
2,301 Government National Mortgage Association I,
7.75%, 2/15/30 2,353
26,503 Government National Mortgage Association I,
8.25%, 5/15/20 28,430
1,864 Government National Mortgage Association I,
8.5%, 8/15/21 1,873
6,966 Government National Mortgage Association I,
9.0%, 1/15/20 7,080
1,040 Government National Mortgage Association I,
9.0%, 12/15/19 1,120
2,070 Government National Mortgage Association I,
9.0%, 6/15/22 2,158
238 Government National Mortgage Association I,
9.0%, 9/15/21 259
8,530,483 Government National Mortgage Association II,
3.5%, 1/20/46 9,066,726
1,206,455 Government National Mortgage Association II,
3.5%, 3/20/45 1,282,302
1,795,580 Government National Mortgage Association II,
3.5%, 3/20/46 1,933,224
558,962 Government National Mortgage Association II,
3.5%, 4/20/45 596,677
1,440,332 Government National Mortgage Association II,
3.5%, 4/20/45 1,539,318
1,756,873 Government National Mortgage Association II,
3.5%, 4/20/45 1,871,586
5,491,774 Government National Mortgage Association II,
3.5%, 8/20/45 5,835,473
2,912,859 Government National Mortgage Association II,
4.0%, 10/20/44 3,114,961
12,202,705 Government National Mortgage Association II,
4.0%, 7/20/44 13,050,209
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 75
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
332,825 Government National Mortgage Association II,
4.0%, 9/20/44 $ 355,933
306,645 Government National Mortgage Association II,
4.5%, 1/20/35 331,671
108,028 Government National Mortgage Association II,
4.5%, 12/20/34 116,165
55,920 Government National Mortgage Association II,
4.5%, 3/20/35 60,517
1,793,833 Government National Mortgage Association II,
4.5%, 9/20/41 1,958,459
26,585 Government National Mortgage Association II,
5.0%, 1/20/20 28,026
71,676 Government National Mortgage Association II,
5.0%, 12/20/18 74,981
38,444 Government National Mortgage Association II,
5.0%, 2/20/19 40,367
233,867 Government National Mortgage Association II,
5.5%, 10/20/19 244,174
180,531 Government National Mortgage Association II,
5.5%, 10/20/37 197,963
233,618 Government National Mortgage Association II,
5.5%, 3/20/34 268,661
205,946 Government National Mortgage Association II,
5.5%, 4/20/34 231,902
66,474 Government National Mortgage Association II,
5.75%, 4/20/33 73,910
151,261 Government National Mortgage Association II,
5.75%, 6/20/33 168,172
27,737 Government National Mortgage Association II,
5.9%, 1/20/28 31,061
50,393 Government National Mortgage Association II,
5.9%, 11/20/27 56,419
94,606 Government National Mortgage Association II,
5.9%, 7/20/28 105,211
101,102 Government National Mortgage Association II,
6.0%, 1/20/33 119,533
23,234 Government National Mortgage Association II,
6.0%, 10/20/31 26,535
115,167 Government National Mortgage Association II,
6.0%, 10/20/33 135,779
29,539 Government National Mortgage Association II,
6.0%, 12/20/18 30,347
66,885 Government National Mortgage Association II,
6.0%, 6/20/34 79,044
3,808 Government National Mortgage Association II,
6.0%, 7/20/17 3,862
The accompanying notes are an integral part of these financial statements.
76 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
15,625 Government National Mortgage Association II,
6.0%, 7/20/19 $ 16,010
87,809 Government National Mortgage Association II,
6.45%, 1/20/33 100,257
46,854 Government National Mortgage Association II,
6.45%, 11/20/32 53,485
49,696 Government National Mortgage Association II,
6.45%, 7/20/32 56,735
27,844 Government National Mortgage Association II,
6.5%, 1/20/24 31,757
49,515 Government National Mortgage Association II,
6.5%, 10/20/32 59,840
2,348 Government National Mortgage Association II,
6.5%, 2/20/29 2,798
946 Government National Mortgage Association II,
6.5%, 3/20/29 1,102
66,049 Government National Mortgage Association II,
6.5%, 3/20/34 81,215
30,741 Government National Mortgage Association II,
6.5%, 4/20/29 36,676
15,270 Government National Mortgage Association II,
6.5%, 4/20/31 18,519
10,971 Government National Mortgage Association II,
6.5%, 6/20/31 13,074
50,795 Government National Mortgage Association II,
6.5%, 8/20/28 59,565
78,692 Government National Mortgage Association II,
7.0%, 1/20/29 95,787
12,181 Government National Mortgage Association II,
7.0%, 1/20/31 15,175
76,234 Government National Mortgage Association II,
7.0%, 11/20/28 93,358
11,627 Government National Mortgage Association II,
7.0%, 11/20/31 14,370
2,198 Government National Mortgage Association II,
7.0%, 12/20/30 2,698
7,972 Government National Mortgage Association II,
7.0%, 2/20/29 9,339
5,988 Government National Mortgage Association II,
7.0%, 3/20/31 7,331
11,057 Government National Mortgage Association II,
7.0%, 5/20/26 12,885
23,028 Government National Mortgage Association II,
7.0%, 6/20/28 28,013
29,407 Government National Mortgage Association II,
7.0%, 7/20/31 36,707
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 77
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
21,971 Government National Mortgage Association II,
7.0%, 8/20/27 $ 26,467
7,391 Government National Mortgage Association II,
7.5%, 12/20/30 9,331
11,740 Government National Mortgage Association II,
7.5%, 5/20/30 14,071
3,777 Government National Mortgage Association II,
7.5%, 6/20/30 4,781
11,324 Government National Mortgage Association II,
7.5%, 7/20/30 12,814
12,961 Government National Mortgage Association II,
7.5%, 8/20/30 16,387
45 Government National Mortgage Association II,
8.0%, 5/20/25 50
2,589 Government National Mortgage Association II,
9.0%, 11/20/24 2,601
2,574 Government National Mortgage Association II,
9.0%, 3/20/22 2,586
362 Government National Mortgage Association II,
9.0%, 4/20/22 363
468 Government National Mortgage Association II,
9.0%, 9/20/21 468
18,163 Government National Mortgage Association,
6.5%, 3/15/29 20,721
968,184 Tennessee Valley Authority, 4.929%, 1/15/21 1,066,744
23,200,000 U.S. Treasury Bonds, 3.0%, 5/15/42 26,797,810
2,500,000 U.S. Treasury Bonds, 4.25%, 5/15/39 3,494,140
6,865,000 U.S. Treasury Bonds, 4.375%, 11/15/39 9,757,952
3,700,000 U.S. Treasury Bonds, 4.375%, 5/15/40 5,264,116
62,121,297 U.S. Treasury Inflation Indexed Bonds,
0.75%, 2/15/45 62,385,798
49,464,073 U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46 53,400,573
16,800,000 0.43 U.S. Treasury Notes, Floating Rate Note, 10/31/17 16,811,206
16,395,000 0.33 U.S. Treasury Notes, Floating Rate Note, 4/30/17 16,397,410
50,000,000 0.34 U.S. Treasury Notes, Floating Rate Note, 7/31/17 50,001,900
1,500,000 U.S. Treasury Notes, 0.625%, 5/31/17 1,501,347
1,500,000 U.S. Treasury Notes, 1.125%, 1/15/19 1,516,816
5,200,000 U.S. Treasury Notes, 1.875%, 8/31/17 5,280,033
4,400,000 U.S. Treasury Notes, 2.0%, 2/15/25 4,603,500
3,400,000 U.S. Treasury Notes, 2.0%, 8/15/25 3,554,462
4,250,000 U.S. Treasury Notes, 2.125%, 5/15/25 4,489,228
5,400,000 U.S. Treasury Notes, 2.625%, 11/15/20 5,785,592
The accompanying notes are an integral part of these financial statements.
78 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
9,580,000 0.53 U.S. Treasury Note, Floating Rate Note, 1/31/18 $ 9,598,135
19,250,000 0.45 U.S. Treasury Note, Floating Rate Note, 4/30/18 19,252,137
--------------
$1,261,317,002
------------------------------------------------------------------------------------------------------
TOTAL U.S. GOVERNMENT AND
AGENCY OBLIGATIONS
(Cost $1,227,385,878) $1,261,317,002
------------------------------------------------------------------------------------------------------
FOREIGN GOVERNMENT BONDS -- 0.4%
7,600,000 Abu Dhabi Government International Bond,
3.125%, 5/3/26 (144A) $ 7,783,251
4,550,000 Africa Finance Corp., 4.375%, 4/29/20 (144A) 4,615,975
1,500,000 Provincia de Cordoba, 7.125%, 6/10/21 (144A) 1,503,750
--------------
$ 13,902,976
------------------------------------------------------------------------------------------------------
TOTAL FOREIGN GOVERNMENT BONDS
(Cost $13,596,720) $ 13,902,976
------------------------------------------------------------------------------------------------------
MUNICIPAL BONDS -- 1.1%
Municipal Development -- 0.1%
4,500,000 New Jersey Economic Development Authority,
2/15/18 (c) $ 4,369,455
------------------------------------------------------------------------------------------------------
Municipal Education -- 0.0%+
525,000 Amherst College, 3.794%, 11/1/42 $ 559,792
------------------------------------------------------------------------------------------------------
Municipal General -- 0.4%
4,075,000 JobsOhio Beverage System, 3.985%, 1/1/29 $ 4,601,205
1,035,000 JobsOhio Beverage System, 4.532%, 1/1/35 1,210,432
1,050,000 Texas Municipal Gas Acquisition & Supply Corp. III,
5.0%, 12/15/30 1,206,324
2,100,000 Texas Municipal Gas Acquisition & Supply Corp. III,
5.0%, 12/15/31 2,399,187
2,325,000 Virginia Commonwealth Transportation Board,
4.0%, 5/15/31 2,654,918
2,335,000 Virginia Commonwealth Transportation Board,
4.0%, 5/15/32 2,653,611
--------------
$ 14,725,677
------------------------------------------------------------------------------------------------------
Higher Municipal Education -- 0.2%
1,025,000 Baylor University, 4.313%, 3/1/42 $ 1,151,352
1,100,000 Massachusetts Institute of Technology,
5.6%, 7/1/11 1,565,378
1,900,000 The George Washington University, 1.827%, 9/15/17 1,913,974
3,100,000 University of Virginia, Green Bond Series A,
5.0%, 4/1/45 3,846,046
--------------
$ 8,476,750
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 79
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Municipal Medical -- 0.1%
550,000 Massachusetts Development Finance Agency,
Broad Institute -Series A, 5.375%, 4/1/41 $ 645,953
1,765,000 Ohio Higher Educational Facility Commission,
5.0%, 1/1/42 2,089,919
--------------
$ 2,735,872
------------------------------------------------------------------------------------------------------
Municipal School District -- 0.1%
2,800,000 Frisco Independent School District, 4.0%, 8/15/40 $ 3,165,736
1,750,000 Frisco Independent School District, 4.0%, 8/15/45 1,972,740
--------------
$ 5,138,476
------------------------------------------------------------------------------------------------------
Municipal Transportation -- 0.1%
600,000 Port Authority of New York & New Jersey,
4.458%, 10/1/62 $ 686,442
1,000,000 Texas Transportation Commission State Highway Fund,
5.0%, 4/1/33 1,228,130
--------------
$ 1,914,572
------------------------------------------------------------------------------------------------------
Municipal Obligation -- 0.1%
3,150,000 State of Texas, 4.0%, 10/1/44 $ 3,535,245
1,600,000 State of Washington, 5.0%, 7/1/30 2,004,864
--------------
$ 5,540,109
------------------------------------------------------------------------------------------------------
TOTAL MUNICIPAL BONDS
(Cost $39,763,708) $ 43,460,703
------------------------------------------------------------------------------------------------------
SENIOR FLOATING RATE LOAN
INTERESTS -- 3.7%**
ENERGY -- 0.0%+
Oil & Gas Refining & Marketing -- 0.0%+
573,563 3.21 Pilot Travel Centers LLC, 2016 Refinancing
Tranche B Term Loan, 5/18/23 $ 574,727
--------------
Total Energy $ 574,727
------------------------------------------------------------------------------------------------------
MATERIALS -- 0.2%
Commodity Chemicals -- 0.1%
748,106 4.00 Axiall Holdco, Inc., Initial Loan, 2/27/22 $ 748,729
757,059 4.50 Tronox Pigments Holland BV, New Term
Loan, 3/19/20 725,200
--------------
$ 1,473,929
------------------------------------------------------------------------------------------------------
Specialty Chemicals -- 0.1%
3,857 3.50 Chemtura Corp., New Term Loan, 8/29/16 $ 3,855
249,565 3.54 Huntsman International LLC, 2015 Extended
Term B Dollar Loan, 4/19/19 248,941
902,223 5.50 MacDermid, Inc., Tranche B Term Loan
(First Lien), 6/7/20 891,885
The accompanying notes are an integral part of these financial statements.
80 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Specialty Chemicals -- (continued)
472,500 4.25 OMNOVA Solutions, Inc., Term B-1 Loan, 5/31/18 $ 470,728
391,974 2.75 WR Grace & Co-Conn, U.S. Term Loan, 1/23/21 391,190
--------------
$ 2,006,599
------------------------------------------------------------------------------------------------------
Construction Materials -- 0.0%+
965,911 4.25 CeramTec Service GmbH, Initial Dollar Term B-1
Loan, 8/30/20 $ 964,100
------------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.0%+
771,764 5.56 BWay Intermediate, Initial Term Loan, 8/14/20 $ 769,352
------------------------------------------------------------------------------------------------------
Aluminum -- 0.0%+
693,000 4.00 Novelis, Inc., Initial Term Loan, 5/28/22 $ 688,062
------------------------------------------------------------------------------------------------------
Diversified Metals & Mining -- 0.0%+
232,916 4.25 Fortescue Metals Group Ltd., Bank Loan, 6/30/19 $ 223,454
--------------
Total Materials $ 6,125,496
------------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 0.6%
Aerospace & Defense -- 0.2%
3,414,112 4.75 DigitalGlobe, Inc., Term Loan, 1/25/20 $ 3,423,358
562,080 7.00 Engility Corp., New Term Loan (First Lien), 5/23/20 563,134
1,138,510 7.00 TASC, Inc., First Lien Term Loan, 2/28/17 1,140,645
1,439,885 5.75 The SI Organization, Inc., Term Loan (First
Lien), 11/19/19 1,437,485
--------------
$ 6,564,622
------------------------------------------------------------------------------------------------------
Building Products -- 0.2%
497,703 6.00 Builders FirstSource, Inc., Initial Term Loan, 7/24/22 $ 498,512
1,749,437 4.30 NCI Building Systems, Inc., Tranche B Term
Loan, 6/24/19 1,742,740
1,362,107 3.50 Nortek, Inc., Incremental-1 Loan, 10/30/20 1,348,486
1,974,260 4.25 Unifrax Corp., New Term B Loan, 12/31/19 1,925,726
--------------
$ 5,515,464
------------------------------------------------------------------------------------------------------
Electrical Components & Equipment -- 0.1%
1,100,000 0.00 Dell International LLC, Term Loan B, 6/2/23 $ 1,097,709
2,015,369 3.00 Southwire Co., Term Loan, 1/31/21 2,005,292
--------------
$ 3,103,001
------------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.0%+
104,818 4.25 CeramTec Acquisition Corp., Initial Dollar Term B-2
Loan, 8/30/20 $ 104,621
294,776 4.25 CeramTec GmbH, Dollar Term B-3 Loan, 8/30/20 294,223
--------------
$ 398,844
------------------------------------------------------------------------------------------------------
Construction & Farm Machinery & Heavy
Trucks -- 0.0%+
748,120 6.50 Navistar, Inc., Tranche B Term Loan, 8/17/17 $ 709,467
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 81
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Industrial Machinery -- 0.1%
3,478,612 5.75 NN, Inc., Initial Term Loan, 10/2/22 $ 3,469,915
1,992,314 6.25 Xerium Technologies, Inc., Initial Term Loan, 5/17/19 1,989,824
--------------
$ 5,459,739
------------------------------------------------------------------------------------------------------
Trading Companies & Distributors -- 0.0%+
590,405 3.90 WESCO Distribution, Inc., Tranche B-1
Loan, 12/12/19 $ 592,066
--------------
Total Capital Goods $ 22,343,203
------------------------------------------------------------------------------------------------------
COMMERCIAL SERVICES & SUPPLIES -- 0.1%
Diversified Support Services -- 0.1%
1,505,953 4.00 MTL Publishing LLC, Term B-3 Loan, 8/14/22 $ 1,501,954
------------------------------------------------------------------------------------------------------
Security & Alarm Services -- 0.0%+
784,531 4.00 Garda World Security Corp., Term B Loan, 11/1/20 $ 764,918
200,694 4.00 Garda World Security Corp., Term B Loan, 11/8/20 195,677
--------------
$ 960,595
--------------
Total Commercial Services & Supplies $ 2,462,549
------------------------------------------------------------------------------------------------------
TRANSPORTATION -- 0.0%+
Airlines -- 0.0%+
794,000 3.25 Delta Air Lines Inc., Term Loan (First Lien), 8/24/22 $ 794,579
------------------------------------------------------------------------------------------------------
Marine -- 0.0%+
613,463 5.25 Navios Maritime Partners LP, Term Loan, 6/27/18 $ 535,247
--------------
Total Transportation $ 1,329,826
------------------------------------------------------------------------------------------------------
AUTOMOBILES & COMPONENTS -- 0.4%
Auto Parts & Equipment -- 0.3%
1,119,945 3.50 Allison Transmission, Inc., Term B-3 Loan, 8/23/19 $ 1,120,868
2,356,298 4.00 Cooper Standard Intermediate Holdco 2 LLC,
Term Loan, 3/28/21 2,355,316
1,209,291 5.75 Electrical Components International, Inc.,
Loan, 4/17/21 1,209,291
1,407,999 4.75 Federal-Mogul Corp., Tranche C Term, 4/15/21 1,310,319
4,505,130 3.75 MPG Holdco I, Inc., Tranche B-1 Term Loan
(2015), 10/20/21 4,483,411
236,923 4.25 Schaeffler AG, Facility B-USD, 5/15/20 238,354
1,772,078 4.50 TI Group Automotive Systems LLC, Initial US Term
Loan, 6/25/22 1,741,066
--------------
$ 12,458,625
------------------------------------------------------------------------------------------------------
Tires & Rubber -- 0.0%+
2,095,000 3.75 The Goodyear Tire & Rubber Co., Term Loan
(Second Lien), 3/27/19 $ 2,099,364
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
82 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Automobile Manufacturers -- 0.1%
2,190,335 3.50 Chrysler Group LLC, Term Loan B, 5/24/17 $ 2,192,291
--------------
Total Automobiles & Components $ 16,750,280
------------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.1%
Home Furnishings -- 0.1%
1,550,976 4.25 Serta Simmons Bedding LLC, Term Loan, 10/1/19 $ 1,552,673
------------------------------------------------------------------------------------------------------
Apparel, Accessories & Luxury Goods -- 0.0%+
493,750 3.25 Hanesbrands, Inc., New Term B Loan, 4/15/22 $ 495,756
--------------
Total Consumer Durables & Apparel $ 2,048,429
------------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Casinos & Gaming -- 0.1%
174,667 3.63 Pinnacle Entertainment, Inc., Term B Facility
Loan, 3/30/23 $ 174,667
4,284,750 6.00 Scientific Games, Initial Term B-2, 10/1/21 4,230,522
--------------
$ 4,405,189
------------------------------------------------------------------------------------------------------
Leisure Facilities -- 0.0%+
1,292,915 3.50 Six Flags Theme Parks, Inc., Tranche B Term
Loan, 6/30/22 $ 1,295,608
------------------------------------------------------------------------------------------------------
Restaurants -- 0.0%+
360,640 3.75 1011778 BC ULC, Term B-2 Loan, 12/12/21 $ 360,490
------------------------------------------------------------------------------------------------------
Education Services -- 0.1%
579,685 3.75 Bright Horizons Family Solutions, Inc., Term B
Loan, 1/14/20 $ 580,500
997,481 4.00 Houghton Mifflin Harcourt Publishers, Inc., Term
Loan, 5/11/21 980,649
--------------
$ 1,561,149
------------------------------------------------------------------------------------------------------
Specialized Consumer Services -- 0.0%+
246,825 5.25 GENEX Holdings, Inc., Term B Loan (First
Lien), 5/22/21 $ 243,122
--------------
Total Consumer Services $ 7,865,558
------------------------------------------------------------------------------------------------------
MEDIA -- 0.3%
Advertising -- 0.0%+
1,048,836 6.75 Affinion Group, Inc., Tranche B Term Loan, 4/30/18 $ 948,759
------------------------------------------------------------------------------------------------------
Broadcasting -- 0.1%
2,230,156 4.00 Univision Communications, Inc., Replacement
First-Lien Term Loan (C-4), 3/1/20 $ 2,219,204
------------------------------------------------------------------------------------------------------
Cable & Satellite -- 0.1%
1,673,250 3.00 Charter Communications Operating LLC, Term F
Loan, 1/1/21 $ 1,664,884
720,343 3.75 Intelsat Jackson Holdings SA, Tranche B-2 Term
Loan, 6/30/19 654,612
--------------
$ 2,319,496
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 83
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Movies & Entertainment -- 0.1%
410,432 5.00 CDS US Intermediate Holdings, Inc., Initial Term
Loan (First Lien), 6/25/22 $ 401,198
132,796 3.75 Cinedigm Digital Funding 1 LLC, Term Loan, 2/28/18 132,464
1,385,813 3.50 Live Nation Entertainment, Inc., Term B-1
Loan, 8/17/20 1,386,679
897,739 3.50 Regal Cinemas Corp., Refinancing Term Loan, 4/1/22 898,636
3,211,832 3.75 Rovi Solutions Corp., Term B Loan, 7/2/21 3,157,633
--------------
$ 5,976,610
--------------
Total Media $ 11,464,069
------------------------------------------------------------------------------------------------------
RETAILING -- 0.1%
General Merchandise Stores -- 0.0%+
459,646 3.50 Dollar Tree, Inc., Term B-1 Loan, 3/9/22 $ 460,139
------------------------------------------------------------------------------------------------------
Specialty Stores -- 0.0%+
1,155,592 4.25 PetSmart, Inc., Tranche B-1 Loan, 3/10/22 $ 1,152,769
------------------------------------------------------------------------------------------------------
Automotive Retail -- 0.1%
1,474,951 5.75 CWGS Group LLC, Term Loan, 2/20/20 $ 1,462,045
--------------
Total Retailing $ 3,074,953
------------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 0.2%
Agricultural Products -- 0.0%+
1,972,946 3.25 Darling International, Inc., Term B USD
Loan, 12/10/21 $ 1,976,004
------------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.2%
3,579,682 4.00 JBS USA LLC, 2015 Incremental Term Loan, 9/18/22 $ 3,576,328
3,313,333 5.25 Keurig Green Mountain, Inc., Term B USD
Loan, 2/10/23 3,322,306
20,755 3.25 Pinnacle Foods Finance LLC, Tranche G Term
Loan, 4/29/20 20,783
--------------
$ 6,919,417
--------------
Total Food, Beverage & Tobacco $ 8,895,421
------------------------------------------------------------------------------------------------------
HOUSEHOLD & PERSONAL PRODUCTS -- 0.0%+
Personal Products -- 0.0%+
511,468 5.00 NBTY, Inc., Dollar Term B Loan, 4/27/23 $ 509,390
950,350 4.00 Revlon Consumer Products Corp., Acquisition
Term Loan, 8/19/19 951,242
--------------
$ 1,460,632
--------------
Total Household & Personal Products $ 1,460,632
------------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.4%
Health Care Supplies -- 0.1%
2,891,561 5.00 Kinetic Concepts, Inc., Dollar Term F Loan, 11/30/20 $ 2,884,332
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
84 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Health Care Services -- 0.0%+
921,132 4.25 Alliance HealthCare Services, Inc., Initial Term
Loan, 6/3/19 $ 878,530
183,760 6.50 Ardent Legacy Acquisitions, Inc., Term Loan, 7/31/21 183,760
248,604 3.50 DaVita HealthCare Partners, Inc., Tranche B Loan
(First Lien), 6/19/21 249,407
--------------
$ 1,311,697
------------------------------------------------------------------------------------------------------
Health Care Facilities -- 0.3%
521,798 3.92 CHS, Incremental 2018 Term F Loan, 12/31/18 $ 518,537
1,108,679 3.38 CHS, Incremental 2019 Term G Loan, 12/31/19 1,080,529
2,039,940 4.00 CHS, Incremental 2021 Term H Loan, 1/27/21 1,991,491
727,333 3.38 HCA, Inc., Tranche B-4 Term Loan, 5/1/18 728,903
1,730,872 3.71 HCA, Inc., Tranche B-6 Term Loan, 3/8/23 1,739,391
547,210 4.25 Kindred Healthcare, Inc., Tranche B Loan (First
Lien), 4/10/21 533,530
1,172,063 6.00 Select Medical Corp., Series F Tranche B Term
Loan, 3/4/21 1,169,836
1,970,063 6.25 Vizient, Inc., Initial Term Loan, 2/9/23 1,982,375
--------------
$ 9,744,592
------------------------------------------------------------------------------------------------------
Health Care Technology -- 0.0%+
1,591,100 3.50 IMS Health, Inc., Term B Dollar Loan, 3/17/21 $ 1,581,654
--------------
Total Health Care Equipment & Services $ 15,522,275
------------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE
SCIENCES -- 0.2%
Biotechnology -- 0.0%+
738,491 3.50 Alkermes, Inc., 2019 Term Loan, 9/25/19 $ 736,645
------------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.1%
1,641,750 5.25 Concordia Healthcare Corp., Initial Dollar Term
Loan, 10/20/21 $ 1,589,419
381,225 3.46 Grifols Worldwide Operations USA, Inc., U.S.
Tranche B Term Loam, 4/1/21 381,615
847,837 3.25 Mallinckrodt International Finance SA, Initial
Term B Loan, 3/6/21 838,034
1,632,004 3.50 RPI Finance Trust, Term B-4 Term Loan, 11/9/20 1,634,410
516,901 4.75 Valeant Pharmaceuticals International, Inc.,
Series C-2 Tranche B Term Loan, 12/11/19 503,333
952,832 5.00 Valeant Pharmaceuticals, Series F-1, 3/11/22 927,952
--------------
$ 5,874,763
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 85
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.1%
1,250,000 5.75 Albany Molecular Research, Inc., Term Loan, 7/14/21 $ 1,239,062
1,620,587 4.25 Catalent Pharma Solutions, Dollar Term
Loan, 5/20/21 1,622,487
--------------
$ 2,861,549
--------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 9,472,957
------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.1%
Other Diversified Financial Services -- 0.1%
1,244,835 3.50 Fly Funding II Sarl, Loan, 8/9/19 $ 1,242,695
600,000 5.25 Neon Holding Co., LLC, Initial Term Loan, 5/17/23 600,375
997,455 5.00 Nord Anglia Education, Initial Term Loan, 3/31/21 993,715
--------------
$ 2,836,785
------------------------------------------------------------------------------------------------------
Specialized Finance -- 0.0%+
1,477,336 3.50 Trans Union LLC, 2016 Incremental Term B-2
Commitment, 4/9/21 $ 1,466,256
--------------
Total Diversified Financials $ 4,303,041
------------------------------------------------------------------------------------------------------
INSURANCE -- 0.2%
Insurance Brokers -- 0.2%
1,149,536 4.50 National Financial Partners Corp., Tranche B Term
Loan (First Lien), 7/1/20 $ 1,140,627
6,114,582 4.25 USI Insurance Services LLC, Term B Loan, 12/30/19 6,063,372
--------------
$ 7,203,999
--------------
Total Insurance $ 7,203,999
------------------------------------------------------------------------------------------------------
REAL ESTATE -- 0.1%
Retail REIT -- 0.0%+
1,000,000 4.25 DTZ US Borrower LLC, 2015-1 Additional Term
Loan (First Lien), 11/4/21 $ 991,000
------------------------------------------------------------------------------------------------------
Specialized REIT -- 0.1%
1,641,709 5.00 Communications Sales & Leasing, Inc., Term
Loan, 10/16/22 $ 1,626,318
--------------
Total Real Estate $ 2,617,318
------------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.1%
IT Consulting & Other Services -- 0.0%+
479,881 3.75 NXP BV, Tranche B Loan, 10/30/20 $ 481,455
539,247 7.00 TaxAct, Inc., Initial Term Loan, 12/31/22 539,247
--------------
$ 1,020,702
------------------------------------------------------------------------------------------------------
Data Processing & Outsourced Services -- 0.1%
243,404 4.45 First Data Corp., 2021 Extended Dollar Term
Loan, 3/24/21 $ 243,008
1,375,000 4.20 First Data Corp., 2022 Dollar Term Loan, 7/10/22 1,364,114
--------------
$ 1,607,122
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
86 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Application Software -- 0.0%+
350,000 6.25 STG-Fairway Acquisitions, Inc., Term Loan (First
Lien), 6/30/22 $ 344,312
------------------------------------------------------------------------------------------------------
Systems Software -- 0.0%+
600,850 5.75 AVG Technologies N.V., Term Loan, 10/15/20 $ 601,226
------------------------------------------------------------------------------------------------------
Home Entertainment Software -- 0.0%+
195,575 3.25 Activision Blizzard, Inc., Term Loan, 7/26/20 $ 196,309
--------------
Total Software & Services $ 3,769,671
------------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.0%+
Communications Equipment -- 0.0%+
333,333 3.41 Belden Finance 2013 LP, Initial Term Loan, 9/9/20 $ 332,812
248,023 3.54 CommScope, Inc., Tranche 4 Term Loan, 1/14/18 248,100
--------------
$ 580,912
--------------
Total Technology Hardware & Equipment $ 580,912
------------------------------------------------------------------------------------------------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 0.1%
Semiconductor Equipment -- 0.0%+
1,154,511 2.88 Sensata Technologies BV, Sixth Amendment Term
Loan, 10/14/21 $ 1,155,665
------------------------------------------------------------------------------------------------------
Semiconductors -- 0.1%
324,188 4.25 Avago Technologies Finance, Term Loan (First
Lien), 11/13/22 $ 324,570
435,200 5.25 Microsemi Corp., Closing Date Term B
Loan, 12/17/22 434,973
1,725,000 5.25 ON Semiconductor Corp., Term Loan (First
Lien), 3/31/23 1,737,013
--------------
$ 2,496,556
--------------
Total Semiconductors & Semiconductor Equipment $ 3,652,221
------------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.1%
Integrated Telecommunication Services -- 0.1%
1,901,238 4.00 Cincinnati Bell, Inc., Tranche B Term Loan, 9/10/20 $ 1,893,712
1,199,813 4.00 GCI Holdings, Inc., New Term B Loan, 2/2/22 1,202,438
--------------
$ 3,096,150
------------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.0%+
1,863,025 4.25 Altice US Finance I Corp., Initial Term
Loan, 12/14/22 $ 1,862,094
282,407 4.00 Syniverse Holdings, Inc., Initial Term Loan, 4/23/19 213,217
504,555 4.00 Syniverse Holdings, Inc., Tranche B Term
Loan, 4/23/19 380,939
--------------
$ 2,456,250
--------------
Total Telecommunication Services $ 5,552,400
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 87
Schedule of Investments | 6/30/16 (continued)
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
UTILITIES -- 0.2%
Electric Utilities -- 0.1%
1,683,796 3.00 Calpine Construction Finance Co., LP, Term B-1
Loan, 5/3/20 $ 1,653,628
2,235,660 3.75 Texas Competitive Electric Holdings Co., LLC, DIP
Term Loan, 11/7/16 2,234,727
968,882 5.50 TPF II Power, LLC, Term Loan, 10/2/21 966,663
--------------
$ 4,855,018
------------------------------------------------------------------------------------------------------
Independent Power Producers & Energy
Traders -- 0.1%
1,000,000 4.64 Dynegyn Inc., Term Loan B, 6/27/23 $ 987,250
1,008,194 4.00 Dynegy, Inc., Tranche B-2 Term Loan, 4/23/20 988,870
1,305,644 2.75 NRG Energy, Inc., Term Loan (2013), 7/1/18 1,303,741
690,600 5.25 NSG Holdings LLC, New Term Loan, 12/11/19 688,873
--------------
$ 3,968,734
--------------
Total Utilities $ 8,823,752
------------------------------------------------------------------------------------------------------
TOTAL SENIOR FLOATING RATE LOAN INTERESTS
(Cost $144,698,340) $ 145,893,689
------------------------------------------------------------------------------------------------------
TEMPORARY CASH INVESTMENTS -- 2.9%
Repurchase Agreements -- 1.8%
50,705,000 $50,705,000 RBC Capital Markets LLC, 0.42%,
dated 6/30/16 plus accrued interest on 7/1/16
collateralized by the following:
$1,883,995 Freddie Mac Giant, 3.5%,
2/1/30-2/1/41
$20,083,983 Federal Home Loan Mortgage Corp.,
2.191-3.499%, 1/1/37-5/1/45
$8,678,396 Federal National Mortgage Association
(ARM), 2.125% - 3.829%, 11/1/21-11/1/45
$7,152,399 Federal National Mortgage Association,
2.5% - 4.5%, 7/1/31-6/1/46
$13,920,396 Government National Mortgage
Association, 2.5% - 4.5%, 1/20/45 - 6/20/46 $ 50,705,000
17,245,000 $17,245,000 ScotiaBank, 0.42%, dated 6/30/16
plus accrued interest on 7/1/16
collateralized by the following:
$2,954,669 U.S. Treasury Notes, 0.125%, 4/15/17
$14,635,464 Federal National Mortgage Association,
3.5% - 4.0%, 9/1/45 - 2/1/46 17,245,000
4,740,000 $4,740,000 TD Securities USA LLC, 0.35%, dated
6/30/16 plus accrued interest on 7/1/16
collateralized by the following:
$4,834,884 U.S. Treasury Notes, 2.25%,
11/30/17 - 11/15/24 4,740,000
--------------
$ 72,690,000
------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
88 Pioneer Bond Fund | Annual Report | 6/30/16
------------------------------------------------------------------------------------------------------
Floating
Principal Rate (b)
Amount ($) (unaudited) Value
------------------------------------------------------------------------------------------------------
Commercial Paper -- 1.1%
14,750,000 BNP Paribas SA, Commercial Paper, 7/1/16 (c) $ 14,749,860
20,765,000 Microsoft Corp., Commercial Paper, 7/1/16 (c) 20,764,836
8,025,000 Prudential Funding, Inc., Commercial
Paper, 7/1/16 (c) 8,024,928
--------------
$ 43,539,624
------------------------------------------------------------------------------------------------------
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $116,230,000) $ 116,229,624
------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN SECURITIES -- 103.4%
(Cost $3,985,561,743) (a) $4,080,786,333
------------------------------------------------------------------------------------------------------
OTHER ASSETS & LIABILITIES -- (3.4)% $ (135,659,063)
------------------------------------------------------------------------------------------------------
NET ASSETS -- 100.0% $3,945,127,270
======================================================================================================
REIT Real Estate Investment Trust.
+ Rounds to less than 0.01%.
(Perpetual) Security with no stated maturity date.
(ARM) Adjustable Rate Mortgage.
(Cat Bond) Catastrophe or event linked bond. At June 30, 2016 the value
of these securities amounted to $55,428,460 or 1.4% of net assets.
See Notes to Financial Statements -- 1F.
REMICS Real Estate Mortgage Investment Conduits.
(Step) Bond issued with an initial coupon rate which converts to a higher
rate at a later date.
(TBA) "To Be Announced" Securities.
(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, 2016, the value of these securities
amounted to $1,127,767,074 or 28.6% of total net assets.
** Senior 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 (London InterBank Offered
Rate), (ii) the prime rate offered by one or more major U.S. banks,
(iii) the rate of a certificate of deposit or (iv) other base
lending rates used by commercial lenders. The rate shown is the
coupon rate at period end.
(a) At June 30, 2016, the net unrealized appreciation on investments
based on cost for federal income tax purposes of $3,991,870,999 was
as follows:
Aggregate gross unrealized appreciation for all investments in which
there is an excess of value over tax cost $111,296,612
Aggregate gross unrealized depreciation for all investments in
which there is an excess of tax cost over value (22,381,278)
-------------
Net unrealized appreciation $ 88,915,334
=============
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 89
Schedule of Investments | 6/30/16 (continued)
(b) Debt obligation with a variable interest rate. Rate shown is rate at
end of period.
(c) Security issued with a zero coupon. Income is earned through
accretion of discount.
(d) Security is valued using fair value methods (other than prices
supplied by independent pricing services or broker-dealers). See
Notes to Financial Statements -- Note 1A.
(f) Structured reinsurance investment. At June 30, 2016, the value of
these securities amounted to $51,462,636 or 1.3% of net assets. See
Notes to Financial Statements -- Note 1F.
(g) Rate to be determined.
Purchases and sales of securities (excluding temporary cash investments) for the
year ended June 30, 2016 were as follows:
---------------------------------------------------------------------------------------
Purchases Sales
---------------------------------------------------------------------------------------
Long-Term U.S. Government Securities $ 890,457,385 $642,199,742
Other Long-Term Securities 1,283,004,027 793,145,804
The Fund is permitted to engage in purchase and sale transactions ("cross
trades") with certain funds and accounts for which PIM 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, 2016, the Fund engaged in purchases and sales
pursuant to these procedures amounting to $72,112,752 and $17,005,059,
respectively.
Various inputs are used in determining the value of the Fund's investments.
These inputs are summarized in the three broad levels listed 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
risk, etc.) See Notes to Financial Statements -- Note 1A.
Level 3 - significant unobservable inputs (including the Fund's own
assumptions in determining fair value of investments) See Notes
to Financial Statements -- Note 1A.
The following is a summary of the inputs used as of June 30, 2016, in valuing
the Fund's assets:
-------------------------------------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
-------------------------------------------------------------------------------------------------------
Preferred Stock $ 3,271,319 $ -- $ -- $ 3,271,319
Convertible Preferred Stock 11,362,803 -- -- 11,362,803
Asset Backed Securities -- 167,271,001 -- 167,271,001
Collateralized Mortgage Obligations -- 702,505,129 -- 702,505,129
Corporate Bonds
Diversified Financials
Other Diversified
Financial Services -- 17,888,534 1,232,242 19,120,776
Insurance
Reinsurance -- 55,668,812 60,269,556 115,938,368
All Other Corporate Bonds -- 1,480,512,943 -- 1,480,512,943
U.S. Government Agency Obligations -- 1,261,317,002 -- 1,261,317,002
Foreign Government Bonds -- 13,902,976 -- 13,902,976
Municipal Bonds -- 43,460,703 -- 43,460,703
Senior Floating Rate Loan Interests -- 145,893,689 -- 145,893,689
Repurchase Agreements -- 72,690,000 -- 72,690,000
Commercial Paper -- 43,539,624 -- 43,539,624
-------------------------------------------------------------------------------------------------------
Total $14,634,122 $ 4,004,650,413 $ 61,501,798 $4,080,786,333
=======================================================================================================
The accompanying notes are an integral part of these financial statements.
90 Pioneer Bond Fund | Annual Report | 6/30/16
-----------------------------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
-----------------------------------------------------------------------------------------------
Other Financial Instruments
Net unrealized depreciation on
Futures Contracts $ (17,302,798) $ -- $ -- $ (17,302,798)
-----------------------------------------------------------------------------------------------
Total Other Financial
Instruments $ (17,302,798) $ -- $ -- $ (17,302,798)
===============================================================================================
The following is a summary of the fair valuation of certain Fund's assets and
liabilities as of June 30, 2016.
---------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
---------------------------------------------------------------------------
Assets:
Restricted cash $ -- $7,288,843 $ -- $7,288,843
---------------------------------------------------------------------------
Total: $ -- $7,288,843 $ -- $7,288,843
===========================================================================
Following is a reconciliation of assets using significant unobservable inputs
(Level 3):
-------------------------------------------------------------------------------------
Preferred Corporate
Stocks Bonds Total
-------------------------------------------------------------------------------------
Balance as of 6/30/15 $ 36,000 $ 45,277,300 $ 45,313,300
Realized gain (loss)(1) -- 18,396 18,396
Change in unrealized appreciation
(depreciation)(2) -- 1,632,173 1,632,173
Purchases -- 56,358,746 56,358,746
Sales -- (44,380,817) (44,380,817)
Transfers in to Level 3* -- 2,560,000 2,560,000
Transfers out of Level 3* -- -- --
Transfers in and out of Level 3 categories (36,000) 36,000 --
-------------------------------------------------------------------------------------
Balance as of 6/30/16 $ -- $ 61,501,798 $ 61,501,798
=====================================================================================
(1) Realized gain (loss) on these securities is included in the net realized
gain (loss) from investments in the Statement of Operations.
(2) Unrealized appreciation (depreciation) on these securities is included in
the change in unrealized appreciation (depreciation) on investments in the
Statement of Operations.
* Transfers are calculated on beginning of period values. During the year
ended June 30, 2016, an investment having a value of $2,560,000 was
transferred from Level 2 to Level 3. The change in the level designation
within the fair value hierarchy was due to a change in classification from
a Catastrophe Bond to a Sidecar. There were no other transfers between
levels 1, 2 and 3.
Net change in unrealized appreciation (depreciation) of investments
still held as of 6/30/16 $2,205,405
----------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 91
Statement of Assets and Liabilities | 6/30/16
ASSETS:
Investment in securities (cost $3,985,561,743) $ 4,080,786,333
Cash 21,951,385
Restricted cash* 7,288,843
Receivables --
Investment securities sold 426,515
Fund shares sold 11,533,607
Interest 22,734,731
Due from Pioneer Investment Management, Inc. 339,020
Variation margin for futures contracts 213,422
Other assets 55,713
-----------------------------------------------------------------------------------------------------
$ 4,145,329,569
=====================================================================================================
LIABILITIES:
Payables --
Investment securities purchased $ 188,013,365
Fund shares repurchased 9,154,587
Dividends 1,986,884
Due to affiliates 121,524
Accrued expenses 925,939
-----------------------------------------------------------------------------------------------------
$ 200,202,299
=====================================================================================================
NET ASSETS:
Paid-in capital $ 3,896,406,316
Undistributed net investment income 3,684,926
Accumulated net realized loss on investments and futures contracts (32,885,764)
Net unrealized appreciation on investments 95,224,590
Net unrealized depreciation on futures contracts (17,302,798)
-----------------------------------------------------------------------------------------------------
$ 3,945,127,270
=====================================================================================================
NET ASSET VALUE PER SHARE:
(No par value, unlimited number of shares authorized)
Class A (based on $1,177,941,288/120,635,566 shares) $ 9.76
Class C (based on $134,298,830/13,908,846 shares) $ 9.66
Class K (based on $340,095,726/34,841,493 shares) $ 9.76
Class R (based on $156,109,974/15,843,594 shares) $ 9.85
Class Y (based on $2,136,681,452/220,881,175 shares) $ 9.67
MAXIMUM OFFERING PRICE:
Class A ($9.76 / 95.5%) $ 10.22
=====================================================================================================
* Represents restricted cash deposited at the counterparty for derivative
contracts
The accompanying notes are an integral part of these financial statements.
92 Pioneer Bond Fund | Annual Report | 6/30/16
Statement of Operations
For the Year Ended 6/30/16
INVESTMENT INCOME:
Interest $ 117,066,862
Dividends 1,293,345
---------------------------------------------------------------------------------------------------
Total investment income $118,360,207
===================================================================================================
EXPENSES:
Management fees $ 13,785,228
Transfer agent fees
Class A 192,732
Class C 22,334
Class K 2,215
Class R 8,081
Class Y 35,102
Class Z 488
Distribution fees
Class A 2,681,407
Class C 1,208,923
Class R 686,616
Shareholder communications expense 5,277,663
Administrative expense 1,104,227
Custodian fees 190,834
Registration fees 228,709
Professional fees 232,606
Printing expense 68,604
Fees and expenses of nonaffiliated Trustees 163,338
Miscellaneous 333,355
---------------------------------------------------------------------------------------------------
Total expenses $ 26,222,462
Less fees waived and expenses reimbursed
by Pioneer Investment Management, Inc. (1,683,040)
---------------------------------------------------------------------------------------------------
Net expenses $ 24,539,422
---------------------------------------------------------------------------------------------------
Net investment income $ 93,820,785
---------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
FUTURES CONTRACTS AND SWAP CONTRACTS:
Net realized gain (loss) on:
Investments $ 4,001,623
Futures contracts (10,251,460)
Swap contracts 6,433 $ (6,243,404)
---------------------------------------------------------------------------------------------------
Change in net unrealized appreciation (depreciation) on:
Investments $ 81,657,259
Futures contracts (22,131,454)
Swap contracts (34,098) $ 59,491,707
---------------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments,
futures contracts and swap contracts $ 53,248,303
---------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $147,069,088
===================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 93
Statements of Changes in Net Assets
-------------------------------------------------------------------------------------------------------
Year Ended Year Ended
6/30/16 6/30/15
-------------------------------------------------------------------------------------------------------
FROM OPERATIONS:
Net investment income $ 93,820,785 $ 68,993,276
Net realized gain (loss) on investments, futures contracts
and swap contracts (6,243,404) 23,395,756
Change in net unrealized appreciation (depreciation)
on investments, futures contracts and swap contracts 59,491,707 (65,942,035)
-------------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $ 147,069,088 $ 26,446,997
-------------------------------------------------------------------------------------------------------
DISTRIBUTIONS TO SHAREOWNERS:
Net investment income:
Class A ($0.27 and $0.29 per share, respectively) $ (30,130,801) $ (26,434,196)
Class B* ($0.00 and $0.07 per share, respectively) -- (34,683)
Class C ($0.20 and $0.21 per share, respectively) (2,503,533) (2,016,609)
Class K ($0.31 and $0.32 per share, respectively) (8,577,930) (2,711,408)
Class R ($0.25 and $0.26 per share, respectively) (3,514,545) (2,060,446)
Class Y ($0.29 and $0.31 per share, respectively) (56,701,826) (39,612,426)
Class Z** ($0.03 and $0.31 per share, respectively) (184,669) (1,526,702)
Net realized gains
Class A ($0.02 and $0.04 per share, respectively) (2,297,989) (3,819,881)
Class C ($0.02 and $0.04 per share, respectively) (256,680) (406,576)
Class K ($0.02 and $0.04 per share, respectively) (632,921) (45,156)
Class R ($0.02 and $0.04 per share, respectively) (289,802) (285,304)
Class Y ($0.02 and $0.04 per share, respectively) (3,842,000) (4,943,141)
Class Z** ($0.00 and $0.04 per share, respectively) -- (218,854)
-------------------------------------------------------------------------------------------------------
Total distributions to shareowners $ (108,932,696) $ (84,115,382)
-------------------------------------------------------------------------------------------------------
FROM FUND SHARE TRANSACTIONS
Net proceeds from sale or exchange of shares $1,673,600,863 $ 2,251,662,439
Shares issued in reorganization 103,289,215 --
Reinvestment of distributions 82,738,583 65,229,520
Cost of shares repurchased (1,113,066,216) (813,633,836)
-------------------------------------------------------------------------------------------------------
Net increase in net assets resulting from
Fund share transactions $ 746,562,445 $ 1,503,258,123
-------------------------------------------------------------------------------------------------------
Net increase in net assets $ 784,698,837 $ 1,445,589,738
NET ASSETS:
Beginning of year $3,160,428,433 $ 1,714,838,695
-------------------------------------------------------------------------------------------------------
End of year $3,945,127,270 $ 3,160,428,433
-------------------------------------------------------------------------------------------------------
Undistributed (distributions in excess of)
net investment income $ 3,684,926 $ (189,809)
-------------------------------------------------------------------------------------------------------
* Class B shares converted to Class A shares on November 10, 2014.
** Class Z shares converted to Class Y shares on August 7, 2015.
The accompanying notes are an integral part of these financial statements.
94 Pioneer Bond Fund | Annual Report | 6/30/16
-------------------------------------------------------------------------------------------------------
Year Ended Year Ended Year Ended Year Ended
6/30/16 6/30/16 6/30/15 6/30/15
Shares Amount Shares Amount
-------------------------------------------------------------------------------------------------------
Class A
Shares sold 39,520,516 $ 381,082,323 73,397,739 $ 722,362,397
Shares issued in reorganization 8,687,202 83,223,137 -- --
Reinvestment of distributions 2,429,101 23,363,971 2,437,923 23,964,170
Less shares repurchased (37,895,940) (364,153,575) (39,490,108) (388,662,183)
-------------------------------------------------------------------------------------------------------
Net increase 12,740,879 $ 123,515,856 36,345,554 $ 357,664,384
=======================================================================================================
Class B*
Shares exchanged -- $ -- 12,531 $ 122,811
Reinvestment of distributions -- -- 2,761 27,063
Less shares repurchased -- -- (561,244) (5,495,479)
-------------------------------------------------------------------------------------------------------
Net decrease -- $ -- (545,952) $ (5,345,605)
=======================================================================================================
Class C
Shares sold 3,590,552 $ 34,068,700 6,453,693 $ 62,788,125
Shares issued in reorganization 1,566,042 14,846,083 -- --
Reinvestment of distributions 171,403 1,630,270 159,439 1,549,668
Less shares repurchased (3,349,111) (31,797,823) (2,176,700) (21,155,723)
-------------------------------------------------------------------------------------------------------
Net increase 1,978,886 $ 18,747,230 4,436,432 $ 43,182,070
=======================================================================================================
Class K
Shares sold 22,645,768 $ 217,799,806 19,313,507 $ 189,643,402
Reinvestment of distributions 418,685 4,026,426 110,358 1,081,971
Less shares repurchased (6,730,820) (64,517,198) (1,361,429) (13,348,774)
-------------------------------------------------------------------------------------------------------
Net increase 16,333,633 $ 157,309,034 18,062,436 $ 177,376,599
=======================================================================================================
Class R
Shares sold 7,857,134 $ 76,161,586 8,339,063 $ 82,666,234
Reinvestment of distributions 332,632 3,227,431 217,675 2,158,016
Less shares repurchased (4,303,242) (41,715,627) (1,440,815) (14,287,736)
-------------------------------------------------------------------------------------------------------
Net increase 3,886,524 $ 37,673,390 7,115,923 $ 70,536,514
=======================================================================================================
Class Y
Shares sold 101,127,077 $ 963,277,766 116,221,047 $ 1,131,771,954
Shares issued in reorganization 550,053 5,219,995 -- --
Reinvestment of distributions 5,283,365 50,341,027 3,565,174 34,708,672
Less shares repurchased (57,493,210) (547,987,984) (37,432,755) (364,339,899)
-------------------------------------------------------------------------------------------------------
Net increase 49,467,285 $ 470,850,804 82,353,466 $ 802,140,727
=======================================================================================================
Class Z**
Shares sold 125,036 $ 1,210,682 6,317,443 $ 62,307,516
Reinvestment of distributions 15,392 149,458 176,815 1,739,960
Less shares repurchased (6,477,629) (62,894,009) (644,582) (6,344,042)
-------------------------------------------------------------------------------------------------------
Net increase (decrease) (6,337,201) $ (61,533,869) 5,849,676 $ 57,703,434
=======================================================================================================
* Class B shares converted to Class A shares on November 10, 2014.
** Class Z shares converted to Class Y shares on August 7, 2015.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 95
Financial Highlights
----------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/16 6/30/15 6/30/14 6/30/13 6/30/12
----------------------------------------------------------------------------------------------------------------------------
Class A
Net asset value, beginning of period $ 9.68 $ 9.88 $ 9.67 $ 9.73 $ 9.66
----------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.25(a) $ 0.27 $ 0.35 $ 0.38 $ 0.42
Net realized and unrealized gain (loss) on investments 0.12 (0.14) 0.24 (0.07) 0.13
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.37 $ 0.13 $ 0.59 $ 0.31 $ 0.55
----------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.27) $ (0.29) $ (0.38) $ (0.37) $ (0.43)
Net realized gain (0.02) (0.04) -- -- (0.05)
----------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.29) $ (0.33) $ (0.38) $ (0.37) $ (0.48)
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.08 $ (0.20) $ 0.21 $ (0.06) $ 0.07
----------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.76 $ 9.68 $ 9.88 $ 9.67 $ 9.73
============================================================================================================================
Total return* 3.93% 1.32% 6.19% 3.21% 5.91%
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 2.58% 2.68% 3.52% 3.77% 4.35%
Portfolio turnover rate 43% 81% 41% 28% 21%
Net assets, end of period (in thousands) $1,177,941 $1,044,659 $706,962 $565,569 $453,772
Ratios with no waiver of fees and assumption of expenses by
the Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 0.98% 0.93% 1.00% 1.01% 1.03%
Net investment income (loss) to average net assets 2.45% 2.60% 3.37% 3.61% 4.17%
============================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales
charges. Total return would be reduced if sales charges were taken into
account.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
96 Pioneer Bond Fund | Annual Report | 6/30/16
----------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/16 6/30/15 6/30/14 6/30/13 6/30/12
----------------------------------------------------------------------------------------------------------------------------
Class C
Net asset value, beginning of period $ 9.57 $ 9.77 $ 9.57 $ 9.63 $ 9.55
----------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.17(a) $ 0.19 $ 0.26 $ 0.29 $ 0.33
Net realized and unrealized gain (loss) on investments 0.14 (0.14) 0.23 (0.06) 0.15
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.31 $ 0.05 $ 0.49 $ 0.23 $ 0.48
----------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.20) $ (0.21) $ (0.29) $ (0.29) $ (0.35)
Net realized gain (0.02) (0.04) -- -- (0.05)
----------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.22) $ (0.25) $ (0.29) $ (0.29) $ (0.40)
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.09 $ (0.20) $ 0.20 $ (0.06) $ 0.08
----------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.66 $ 9.57 $ 9.77 $ 9.57 $ 9.63
============================================================================================================================
Total return* 3.28% 0.49% 5.20% 2.33% 5.12%
Ratio of net expenses to average net assets 1.60% 1.63% 1.73% 1.72% 1.73%
Ratio of net investment income (loss) to average net assets 1.84% 1.89% 2.69% 2.93% 3.47%
Portfolio turnover rate 43% 81% 41% 28% 21%
Net assets, end of period (in thousands) $134,299 $114,222 $73,224 $87,763 $93,737
============================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales
charges. Total return would be reduced if sales charges were taken into
account.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 97
Financial Highlights (continued)
-------------------------------------------------------------------------------------------------------------------------
Year Year Year 12/20/12
Ended Ended Ended to
6/30/16 6/30/15 6/30/14 6/30/13
-------------------------------------------------------------------------------------------------------------------------
Class K
Net asset value, beginning of period $ 9.68 $ 9.87 $ 9.67 $ 9.94
-------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.29(b) $ 0.30 $ 0.40 $ 0.20
Net realized and unrealized gain (loss) on investments 0.12 (0.13) 0.20 (0.26)
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.41 $ 0.17 $ 0.60 $ (0.06)
-------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.31) $ (0.32) $ (0.40) $ (0.21)
Net realized gain (0.02) (0.04) -- --
-------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.33) $ (0.36) $ (0.40) $ (0.21)
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.08 $ (0.19) $ 0.20 $ (0.27)
-------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.76 $ 9.68 $ 9.87 $ 9.67
=========================================================================================================================
Total return* 4.32% 1.80% 6.37% (0.61)%(a)
Ratio of net expenses to average net assets 0.47% 0.47% 0.56% 0.57%**
Ratio of net investment income (loss) to average net assets 2.98% 3.03% 3.59% 3.86%**
Portfolio turnover rate 43% 81% 41% 28%
Net assets, end of period (in thousands) $340,096 $179,135 $ 4,398 $ 10
=========================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period.
** Annualized.
(a) Not Annualized.
(b) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
98 Pioneer Bond Fund | Annual Report | 6/30/16
----------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/16 6/30/15 6/30/14 6/30/13 6/30/12
----------------------------------------------------------------------------------------------------------------------------
Class R
Net asset value, beginning of period $ 9.77 $ 9.97 $ 9.76 $ 9.82 $ 9.74
----------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.23(a) $ 0.25 $ 0.32 $ 0.34 $ 0.39
Net realized and unrealized gain (loss) on investments 0.12 (0.15) 0.23 (0.06) 0.14
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.35 $ 0.10 $ 0.55 $ 0.28 $ 0.53
----------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.25) $ (0.26) $ (0.34) $ (0.34) $ (0.40)
Net realized gain (0.02) (0.04) -- -- (0.05)
----------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.27) $ (0.30) $ (0.34) $ (0.34) $ (0.45)
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.08 $ (0.20) $ 0.21 $ (0.06) $ 0.08
----------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.85 $ 9.77 $ 9.97 $ 9.76 $ 9.82
============================================================================================================================
Total return* 3.66% 1.06% 5.75% 2.80% 5.58%
Ratio of net expenses to average net assets 1.10% 1.10% 1.25% 1.25% 1.25%
Ratio of net investment income (loss) to average net assets 2.33% 2.43% 3.12% 3.36% 3.94%
Portfolio turnover rate 43% 81% 41% 28% 21%
Net assets, end of period (in thousands) $156,110 $116,815 $48,264 $31,169 $23,892
Ratios with no waiver of fees and assumption of expenses by
the Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 1.21% 1.21% 1.32% 1.35% 1.35%
Net investment income (loss) to average net assets 2.22% 2.32% 3.05% 3.26% 3.84%
============================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/16 99
Financial Highlights (continued)
----------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/16 6/30/15 6/30/14 6/30/13 6/30/12
----------------------------------------------------------------------------------------------------------------------------
Class Y
Net asset value, beginning of period $ 9.59 $ 9.79 $ 9.58 $ 9.65 $ 9.57
----------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.27(a) $ 0.30 $ 0.36 $ 0.39 $ 0.44
Net realized and unrealized gain (loss) on investments 0.12 (0.15) 0.24 (0.07) 0.14
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.39 $ 0.15 $ 0.60 $ 0.32 $ 0.58
----------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.29) $ (0.31) $ (0.39) $ (0.39) $ (0.45)
Net realized gain (0.02) (0.04) -- -- (0.05)
----------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.31) $ (0.35) $ (0.39) $ (0.39) $ (0.50)
----------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.08 $ (0.20) $ 0.21 $ (0.07) $ 0.08
----------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.67 $ 9.59 $ 9.79 $ 9.58 $ 9.65
============================================================================================================================
Total return* 4.22% 1.59% 6.41% 3.34% 6.27%
Ratio of net expenses to average net assets 0.58% 0.58% 0.66% 0.66% 0.65%
Ratio of net investment income (loss) to average net assets 2.85% 2.95% 3.72% 3.97% 4.55%
Portfolio turnover rate 43% 81% 41% 28% 21%
Net assets, end of period (in thousands) $2,136,681 $1,644,161 $871,801 $916,182 $847,072
Ratios with no waiver of fees and assumption of expenses by
the Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 0.59% 0.58% 0.66% 0.66% 0.65%
Net investment income (loss) to average net assets 2.84% 2.95% 3.72% 3.97% 4.55%
============================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
100 Pioneer Bond Fund | Annual Report | 6/30/16
Notes to Financial Statements | 6/30/16
1. Organization and Significant Accounting Policies
Pioneer Bond Fund (the Fund) is a Delaware statutory trust. The Fund is
registered under the Investment Company Act of 1940 as a diversified, open-end
management investment company. The investment objective of the Fund is to seek
current income consistent with preservation of capital.
The Fund offers five classes of shares designated as Class A, Class C, Class K,
Class R and Class Y shares. Class B shares were converted to Class A shares as
of the close of business on November 10, 2014. Class Z shares were converted to
Class Y shares on August 7, 2015. 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 shareholder approval. Under per-share voting, each share
of a class of the Fund is entitled to one vote. Under dollar-weighted voting, a
shareholder'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.
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, among other things, 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 gains and losses 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 accounting
policies followed by the Fund in the preparation of its financial statements:
Pioneer Bond Fund | Annual Report | 6/30/16 101
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. Valuations may be supplemented by dealers and other sources, as
required. 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.
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.
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.
102 Pioneer Bond Fund | Annual Report | 6/30/16
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 Dealer 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 interests for which independent pricing services 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 Pioneer Investment
Management, Inc. (PIM), the Fund's investment adviser, pursuant to
procedures adopted by the Fund's Board of Trustees. PIM's fair valuation
team uses fair value methods approved by the Valuation Committee of the
Board of Trustees. PIM'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 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, 2016, one security was valued using fair value methods (in
addition to securities valued using prices supplied by independent pricing
services, broker-dealers or using a third party insurance industry pricing
model) representing less than 0.1% of net assets.
B. Investment Income and Transactions
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
Pioneer Bond Fund | Annual Report | 6/30/16 103
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.
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.
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, 2016, 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 in the Statement of Operations.
Tax returns filed within the prior three years remain subject to
examination by Federal and State tax authorities.
Distributions in excess of net investment income or net realized gains are
temporary overdistributions 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, 2016, the Fund reclassified $11,667,408 to increase undistributed
net investment income and $11,667,408 to increase accumulated net realized
loss on investments, swap contracts and futures contracts to reflect
permanent book/tax differences. These adjustments have no impact on net
assets or the results of operations.
At June 30, 2016, the Fund was permitted to carry forward indefinitely
$17,281,850 of short-term losses and $29,813,382 in 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
104 Pioneer Bond Fund | Annual Report | 6/30/16
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,
2016 and June 30, 2015 were as follows:
-------------------------------------------------------------------------------
2016 2015
-------------------------------------------------------------------------------
Distributions paid from:
Ordinary income $101,613,304 $74,396,470
Long-term capital gain 7,319,392 9,718,912
-------------------------------------------------------------------------------
Total $108,932,696 $84,115,382
===============================================================================
The following shows the components of distributable earnings on a federal
income tax basis at June 30, 2016:
-------------------------------------------------------------------------------
2016
-------------------------------------------------------------------------------
Distributable earnings:
Undistributed ordinary income $ 8,887,736
Capital Loss Carryforward (47,095,232)
Current year dividends payable (1,986,884)
Net unrealized appreciation 88,915,334
-------------------------------------------------------------------------------
Total $ 48,720,954
===============================================================================
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 contracts.
D. Fund Shares
The Fund records sales and repurchases of its shares as of trade date.
Pioneer Funds Distributor, Inc. (PFD), the principal underwriter for the
Fund and a wholly owned indirect subsidiary of UniCredit S.p.A.
(UniCredit), earned $71,806 in underwriting commissions on the sale of
Class A shares during the year ended June 30, 2016.
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
Pioneer Bond Fund | Annual Report | 6/30/16 105
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. 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 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, as defined within the terms of
an event-linked bond occurs, 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
106 Pioneer Bond Fund | Annual Report | 6/30/16
must rely upon the risk assessment and sound underwriting practices of the
issuer. Accordingly, it may be more difficult for PIM 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
PIM 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.
G. Risks
Interest rates in the U.S. recently have been historically low, so the Fund
faces a heightened risk that interest rates may rise. A general rise in
interest rates may cause investors to move out of fixed income securities
on a large scale, which could adversely affect the price and liquidity of
fixed income securities and could also result in increased redemptions from
the Fund.
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.
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 "initial margin" requirements of the associated futures
exchange. The amount of cash deposited with the broker as collateral at
June 30, 2016 was $7,260,450 and is included in "Restricted Cash" in 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. 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. The use of futures
contracts are subject to market risk, interest rate risk and currency
exchange rate risk. Changes in value of the contracts may not
Pioneer Bond Fund | Annual Report | 6/30/16 107
directly correlate to the changes in value of the underlying securities.
The average value of contracts open during the year ended June 30, 2016 was
$(617,719,044).
At June 30, 2016, open futures contracts were as follows:
---------------------------------------------------------------------------------------------------
Number of
Contracts Unrealized
Long/ Settlement Appreciation
Description Counterparty (Short) Month Value (Depreciation)
---------------------------------------------------------------------------------------------------
U.S. Long Bond (CBT) Citibank NA 434 9/16 $ 74,797,188 $ 4,374,084
U.S. Ultra Bond (CBT) Citibank NA 96 9/16 17,892,000 1,078,242
U.S. 10 Year Ultra
Bond (CBT) Citibank NA (833) 9/16 (121,344,672) (4,313,030)
U.S. 10 Year Note (CBT) Citibank NA (5,431) 9/16 (722,238,141) (19,093,360)
U.S. 2 Year Note (CBT) Citibank NA 450 9/16 98,697,657 689,063
U.S. 5 Year Note (CBT) Citibank NA (416) 9/16 (50,820,250) (37,797)
---------------------------------------------------------------------------------------------------
Total $(703,016,218) $ (17,302,798)
===================================================================================================
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 subcustodian of the
Fund. PIM 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.
J. Credit Default Swap Agreements
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 sell or buy 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
108 Pioneer Bond Fund | Annual Report | 6/30/16
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.
When the Fund enters into a credit default swap contract, the protection
buyer 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 as an asset in the
Statement of Assets and Liabilities. Periodic payments received or paid by
the Fund are recorded as realized gains or losses in 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 as unrealized appreciation or depreciation in 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 in
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.
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 on
centrally cleared swaps on the Statement of Assets and Liabilities.
Pioneer Bond Fund | Annual Report | 6/30/16 109
There were no open credit default swap contracts as of June 30, 2016. The
average value of swap contracts open during the year ended June 30, 2016
was $51,498.
2. Management Agreement
PIM, a wholly owned indirect subsidiary of UniCredit, 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, 2016, the
effective management fee (excluding waivers and/or assumption of expenses) was
equal to 0.40% of the Fund's average daily net assets.
PIM has contractually agreed to limit ordinary operating expenses 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, 2016 are
reflected on the Statement of Operations. These expense limitations are in
effect through November 1, 2017. There can be no assurance that PIM will extend
the expense limitation agreement for a class of shares beyond the dates 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
$93,876 in management fees, administrative costs and certain other
reimbursements payable to PIM at June 30, 2016.
3. Transfer Agent
Prior to November 2, 2015, Pioneer Investment Management Shareholder Services,
Inc. (PIMSS), a wholly owned indirect subsidiary of UniCredit, provided
substantially all transfer agent and shareowner services to the Fund at
negotiated rates.
Effective November 2, 2015, Boston Financial Data services serves as the
transfer agent to the fund at negotiated rates.
110 Pioneer Bond Fund | Annual Report | 6/30/16
In addition, the Fund reimbursed the transfer agent for out-of-pocket expenses
incurred by the transfer agent related to shareholder communications activities
such as proxy and statement mailings, outgoing phone calls and omnibus
relationship contracts. For the year ended June 30, 2016, such out-of-pocket
expenses by class of shares were as follows:
-------------------------------------------------------------------------------
Shareholder Communications:
-------------------------------------------------------------------------------
Class A $2,651,468
Class C 137,691
Class K 3,484
Class R 329,820
Class Y 2,148,175
Class Z 7,025
-------------------------------------------------------------------------------
Total $5,277,623
===============================================================================
4. Distribution and Service Plans
The Fund has adopted a Distribution 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 PFD 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 PFD 1.00% of the
average daily net assets attributable to Class C shares. The fee for Class C
shares consists of a 0.25% service fee and a 0.75% distribution fee paid as
compensation for personal services and/or account maintenance services or
distribution services with regard to Class C shares. Pursuant to the Plan, the
Fund further pays PFD 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 $27,648 in distribution
fees payable to PFD at June 30, 2016.
The Fund also has adopted a separate service plan for Class R shares (Service
Plan). The Service Plan authorizes the Fund to pay securities dealers, plan
administrators or other service organizations that agree to provide certain
services to retirement plans or plan participants holding shares of the Fund a
service fee of up to 0.25% of the Fund's average daily net assets attributable
to Class R shares held by such plans.
In addition, redemptions of 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%,
Pioneer Bond Fund | Annual Report | 6/30/16 111
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 R or Class Y
shares. Proceeds from the CDSC are paid to PFD. For the year ended June 30,
2016, CDSC in the amount of $23,383 were paid to PFD.
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
credit facility in effect until February 10, 2016 was in the amount of $240
million. As of February 10, 2016, the facility is in the amount of $220 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 and (c) 2% plus the overnight
eurodollar rate on the borrowing date. The Funds pay an annual commitment fee to
participate in the credit facility. The commitment fee is allocated among
participating Funds based on an allocation schedule set forth in the credit
agreement. During the year ended June 30, 2016, the Fund had no borrowings under
the credit agreement.
6. Additional Disclosures about Derivative Instruments and Hedging Activities:
The Fund's use of derivatives subjects it 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 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.
112 Pioneer Bond Fund | Annual Report | 6/30/16
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,
2016 was as follows:
-----------------------------------------------------------------------------------------
Foreign
Statement of Assets Interest Exchange Equity Commodity
and Liabilities Rate Risk Credit Risk Rate Risk Risk Risk
-----------------------------------------------------------------------------------------
Liabilities
Net unrealized
depreciation on
futures contracts* $(17,302,798) $ -- $ -- $ -- $ --
-----------------------------------------------------------------------------------------
Total Value $(17,302,798) $ -- $ -- $ -- $ --
=========================================================================================
* Reflects net unrealized appreciation/depreciation of futures contracts (see
Note 1H). The current day's variation margin is disclosed on the Statement
of Assets and Liabilities.
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, 2016 was as follows:
---------------------------------------------------------------------------------
Foreign
Statement of Interest Credit Exchange Equity Commodity
Operations Rate Risk Risk Rate Risk Risk Risk
---------------------------------------------------------------------------------
Net realized
gain (loss)
Futures contracts $(10,251,460) $ -- $ -- $ -- $ --
Swap contracts -- 6,433 -- -- --
---------------------------------------------------------------------------------
Total Value $(10,251,460) $ 6,433 $ -- $ -- $ --
=================================================================================
Change in net
unrealized
appreciation
(depreciation) on
Futures contracts $(22,131,454) $ -- $ -- $ -- $ --
Swap contracts -- (34,098) -- -- --
---------------------------------------------------------------------------------
Total Value $(22,131,454) $(34,098) $ -- $ -- $ --
=================================================================================
7. Reorganization Information
On March 18, 2016 ("Closing Date"), Pioneer Government Income Fund (the
"predecessor fund") was reorganized into the Fund. The purpose of this
transaction was to combine two funds (managed by PIM) with similar investment
objectives.
This tax-free reorganization was accomplished by exchanging the assets and
liabilities of the predecessor fund for shares of the Fund. Shareowners holding
Class A, Class C and Class Y of the predecessor fund received Class A, Class C
Pioneer Bond Fund | Annual Report | 6/30/16 113
and Class Y shares of the Fund, respectively, in the reorganization. The
investment portfolio of the predecessor fund, with an aggregate value of
$100,781,776 and an identified cost of $96,686,438 at March 18, 2016, was the
principal asset acquired by the Fund.
For financial reporting purposes, assets received and shares issued by the Fund
were recorded at net asset value, however, the cost basis of the investments
received from the predecessor fund was carried forward to align ongoing
reporting of the Fund's realized and unrealized gains and losses with amounts
distributable to shareowners for tax reporting purposes.
The following charts shows the details of the reorganization as of the Closing
Date:
------------------------------------------------------------------------------------------------
Pioneer Government
Income Fund Pioneer Bond Fund Pioneer Bond Fund
(Pre-Reorganization) (Pre-Reorganization) (Post-Reorganization)
------------------------------------------------------------------------------------------------
Net Assets
Class A $ 83,223,137 $1,052,667,521 $1,135,890,658
Class C 14,846,083 117,661,581 132,507,664
Class K -- 311,330,352 311,330,352
Class R -- 146,651,259 146,651,259
Class Y 5,219,995 1,927,283,548 1,932,503,543
------------------------------------------------------------------------------------------------
Total Net Assets $103,289,215 $3,555,594,261 $3,658,883,476
------------------------------------------------------------------------------------------------
Shares Outstanding
Class A 8,893,098 109,849,580 118,536,782
Class C 1,584,984 12,417,206 13,983,248
Class K -- 32,499,467 32,499,467
Class R -- 15,165,715 15,165,715
Class Y 558,355 203,011,669 203,561,722
------------------------------------------------------------------------------------------------
Shares issued
Exchange Ratio in reorganization
------------------------------------------------------------------------------------------------
Class A 0.9768 8,687,202
Class C 0.9880 1,566,042
Class Y 0.9851 550,053
------------------------------------------------------------------------------------------------
Unrealized
Appreciation on Accumulated Gain
Closing Date (Loss) on Closing Date
------------------------------------------------------------------------------------------------
Fund $11,796,814 $ 818,031
Predecessor Fund 4,095,338 (9,616,481)
114 Pioneer Bond Fund | Annual Report | 6/30/16
Assuming the Reorganization had been completed on July 1, 2015, the pro-forma
results of operations for the fiscal year ended June 30, 2016, were as follows:
Net Investment income (loss) $ 95,529,990
Net realized and unrealized gain (loss) 51,270,329
--------------------------------------------------------------------------------------------
Change in net assets resulting from operations $ 146,800,319
--------------------------------------------------------------------------------------------
Because the combined investment portfolios have been managed as a single
integrated portfolio since the reorganization was completed, it is not practical
to separate the amounts of revenue and earnings of the Fund that have been
included in the Statements of Operations since the Reorganization was
consummated.
Pioneer Bond Fund | Annual Report | 6/30/16 115
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and the Shareowners of Pioneer Bond Fund:
-------------------------------------------------------------------------------
We have audited the accompanying statement of assets and liabilities, including
the schedule of investments, of Pioneer Bond Fund (the "Fund") as of June 30,
2016, and the related statement of operations for the year then ended, the
statements of changes in net assets for each of the two years in the period then
ended, and the financial highlights for each of the three years in the period
then ended. These financial statements and financial highlights are the
responsibility of the Fund's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits. The financial highlights for the years ended June 30, 2013, and 2012,
were audited by other auditors. Those auditors expressed an unqualified opinion
on those financial statements and financial highlights in their report dated
August 22, 2013.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial highlights are free of material misstatement. The Fund
is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting. Our audits included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, 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. An audit also
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. Our procedures included confirmation
of securities owned as of June 30, 2016, by correspondence with the custodian,
brokers and agent banks; where replies were not received from brokers and agent
banks, we performed other auditing procedures. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
Pioneer Bond Fund as of June 30, 2016, the results of its operations for the
year then ended, the changes in its net assets for each of the two years in the
period then ended, and the financial highlights for each of the three years in
the period then ended, in conformity with accounting principles generally
accepted in the United States of America.
/s/ Deloitte & Touche LLP
Boston, Massachusetts
August 25, 2016
116 Pioneer Bond Fund | Annual Report | 6/30/16
ADDITIONAL INFORMATION (unaudited)
The percentages of the Fund's ordinary income distributions that are exempt from
nonresident alien (NRA) tax withholding resulting from qualified interest income
was 80.58%.
Pioneer Bond Fund | Annual Report | 6/30/16 117
Trustees, Officers and Service Providers
Investment Adviser
Pioneer Investment Management, Inc.
Custodian and Sub-Administrator
Brown Brothers Harriman & Co.
Independent Registered Public Accounting Firm
Deloitte & Touche LLP
Principal Underwriter
Pioneer Funds Distributor, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Shareowner Services and Transfer Agent
Boston Financial Data Services, 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 us.pioneerinvestments.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 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 50 U.S. registered investment portfolios for which 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.
118 Pioneer Bond Fund | Annual Report | 6/30/16
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 (66) Trustee since 2006. Private investor (2004 - 2008 and 2013 - Director, Broadridge
Chairman of the Board Serves until a successor present); Chairman (2008 - 2013) and Chief Financial Solutions, Inc.
and Trustee trustee is elected or Executive Officer (2008 - 2012), (investor communications and
earlier retirement or Quadriserv, Inc. (technology products for securities processing
removal. securities lending industry); and Senior provider for financial
Executive Vice President, The Bank of New services industry) (2009 -
York (financial and securities services) present); Director,
(1986 - 2004) Quadriserv, Inc. (2005 -
2013); and Commissioner, New
Jersey State Civil Service
Commission (2011 - present)
-----------------------------------------------------------------------------------------------------------------------------------
David R. Bock (72) Trustee since 2005. Managing Partner, Federal City Capital Director of New York Mortgage
Trustee Serves until a successor Advisors (corporate advisory services Trust (publicly-traded
trustee is elected or company) (1997 - 2004 and 2008 - present); mortgage REIT) (2004 - 2009,
earlier retirement or Interim Chief Executive Officer, Oxford 2012 - present); Director of
removal. Analytica, Inc. (privately-held research The Swiss Helvetia Fund, Inc.
and consulting company) (2010); Executive (closed-end fund) (2010 -
Vice President and Chief Financial present); Director of Oxford
Officer, I-trax, Inc. (publicly traded Analytica, Inc. (2008 -
health care services company) (2004 - present); and Director of
2007); and Executive Vice President and Enterprise Community
Chief Financial Officer, Pedestal Inc. Investment, Inc.
(internet-based mortgage trading company) (privately-held affordable
(2000 - 2002); Private consultant housing finance company)
(1995-1997), Managing Director, Lehman (1985 - 2010)
Brothers (investment banking firm)
(1992-1995); and Executive, The World Bank
(1979-1992)
-----------------------------------------------------------------------------------------------------------------------------------
Benjamin M. Friedman (71) Trustee since 2008. William Joseph Maier Professor of Trustee, Mellon Institutional
Trustee Serves until a successor Political Economy, Harvard University Funds Investment Trust and
trustee is elected or (1972 - present) Mellon Institutional Funds
earlier retirement or Master Portfolio (oversaw 17
removal. portfolios in fund complex)
(1989-2008)
-----------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/16 119
Independent Trustees (continued)
-----------------------------------------------------------------------------------------------------------------------------------
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 (69) Trustee since 1996. Founding Director, Vice President and None
Trustee Serves until a successor Corporate Secretary, The Winthrop Group,
trustee is elected or Inc. (consulting firm) (1982 - present);
earlier retirement or Desautels Faculty of Management, McGill
removal. University (1999 - present); and Manager of
Research Operations and Organizational
Learning, Xerox PARC, Xerox's advance
research center (1990-1994)
-----------------------------------------------------------------------------------------------------------------------------------
Marguerite A. Piret (68) Trustee since 1996. President and Chief Executive Officer, Director of New America High
Trustee Serves until a successor Newbury, Piret & Company, Inc. (investment Income Fund, Inc. (closed-end
trustee is elected or banking firm) (1981 - present) investment company) (2004 -
earlier retirement or present); and Member, Board of
removal. Governors, Investment Company
Institute (2000 - 2006)
-----------------------------------------------------------------------------------------------------------------------------------
Fred J. Ricciardi (69) Trustee since 2014. Consultant (investment company services) None
Trustee Serves until a successor (2012 - present); Executive Vice President,
trustee is elected or BNY Mellon (financial and investment
earlier retirement or company services) (1969 - 2012); Director,
removal. BNY International Financing Corp.
(financial services) (2002 - 2012); and
Director, Mellon Overseas Investment Corp.
(financial services) (2009 - 2012)
-----------------------------------------------------------------------------------------------------------------------------------
120 Pioneer Bond Fund | Annual Report | 6/30/16
Interested Trustee
-----------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Trustee
-----------------------------------------------------------------------------------------------------------------------------------
Kenneth J. Taubes (58)* Trustee since 2014. Director and Executive Vice President None
Trustee Serves until a successor (since 2008) and Chief Investment Officer,
trustee is elected or U.S. (since 2010) of PIM-USA; Executive
earlier retirement or Vice President of Pioneer (since 2008);
removal. Executive Vice President of Pioneer
Institutional Asset Management, Inc. (since
2009); and Portfolio Manager of Pioneer
(since 1999)
-----------------------------------------------------------------------------------------------------------------------------------
* Mr. Taubes is an Interested Trustee because he is an officer of the Fund's
investment adviser and certain of its affiliates.
Pioneer Bond Fund | Annual Report | 6/30/16 121
Advisory Trustee
-----------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Trustee
-----------------------------------------------------------------------------------------------------------------------------------
Lorraine Monchak (60)** Advisory Trustee since Chief Investment Officer, 1199 SEIU Funds Trustee of Pioneer closed-end
Advisory Trustee 2014. (healthcare workers union pension funds) investment investment
(2001 - present); Vice President - companies (5 portfolios)
International Investments Group, American (Sept. 2015 - present)
International Group, Inc. (insurance
company) (1993 - 2001); Vice President
Corporate Finance and Treasury Group,
Citibank, N.A. (1980 - 1986 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)
-----------------------------------------------------------------------------------------------------------------------------------
** Ms. Monchak is a non-voting advisory trustee.
122 Pioneer Bond Fund | Annual Report | 6/30/16
Fund Officers
-----------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Officer
-----------------------------------------------------------------------------------------------------------------------------------
Lisa M. Jones (54) Since 2014. Serves at Chair, Director, CEO and President of Trustee of Pioneer
President and Chief the discretion of the Pioneer Investment Management-USA (since closed-end investment
Executive Officer Board. September 2014); Chair, Director, CEO and companies (5 portfolios)
President of Pioneer Investment Management, (Sept. 2015 - present)
Inc. (since September 2014); Chair,
Director, CEO and President of Pioneer
Funds Distributor, Inc. (since September
2014); Chair, Director, CEO and President
of Pioneer Institutional Asset Management,
Inc. (since September 2014); and Chair,
Director, and CEO of Pioneer Investment
Management Shareholder Services, Inc.
(since September 2014); Managing Director,
Morgan Stanley Investment Management (2010
- 2013); and Director of Institutional
Business, CEO of International, Eaton Vance
Management (2005 - 2010)
-----------------------------------------------------------------------------------------------------------------------------------
Christopher J. Kelley (51) Since 2003. Serves at Vice President and Associate General None
Secretary and Chief the discretion of the Counsel of Pioneer since January 2008;
Legal Officer 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
Pioneer from July 2002 to December 2007
-----------------------------------------------------------------------------------------------------------------------------------
Carol B. Hannigan (55) Since 2010. Serves at Fund Governance Director of Pioneer since None
Assistant Secretary the discretion of the December 2006 and Assistant Secretary of
Board. all the Pioneer Funds since June 2010;
Manager - Fund Governance of Pioneer from
December 2003 to November 2006; and Senior
Paralegal of Pioneer from January 2000 to
November 2003
-----------------------------------------------------------------------------------------------------------------------------------
Thomas Reyes (53) Since 2010. Serves at Senior Counsel of Pioneer since May 2013 None
Assistant Secretary the discretion of the and Assistant Secretary of all the Pioneer
Board. Funds since June 2010; and Counsel of
Pioneer from June 2007 to May 2013
-----------------------------------------------------------------------------------------------------------------------------------
Mark E. Bradley (56) Since 2008. Serves at Vice President - Fund Treasury of Pioneer; None
Treasurer and Chief the discretion of the Treasurer of all of the Pioneer Funds since
Financial and Board. March 2008; Deputy Treasurer of Pioneer
Accounting Officer from March 2004 to February 2008; and
Assistant Treasurer of all of the Pioneer
Funds from March 2004 to February 2008
-----------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/16 123
Fund Officers (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Officer
-----------------------------------------------------------------------------------------------------------------------------------
Luis I. Presutti (51) Since 2000. Serves at Director - Fund Treasury of Pioneer; and None
Assistant Treasurer the discretion of the Assistant Treasurer of all of the Pioneer
Board. Funds
-----------------------------------------------------------------------------------------------------------------------------------
Gary Sullivan (58) Since 2002. Serves at Fund Accounting Manager - Fund Treasury of None
Assistant Treasurer the discretion of the Pioneer; and Assistant Treasurer of all of
Board. the Pioneer Funds
-----------------------------------------------------------------------------------------------------------------------------------
David F. Johnson (36) Since 2009. Serves at Fund Administration Manager - Fund Treasury None
Assistant Treasurer the discretion of the of Pioneer since November 2008; Assistant
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
-----------------------------------------------------------------------------------------------------------------------------------
Jean M. Bradley (63) Since 2010. Serves at Chief Compliance Officer of Pioneer and of None
Chief Compliance Officer the discretion of the all the Pioneer Funds since March 2010;
Board. Chief Compliance Officer of 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 Pioneer since October 2005;
and Senior Compliance Officer for Columbia
Management Advisers, Inc. from October 2003
to October 2005
-----------------------------------------------------------------------------------------------------------------------------------
Kelly O'Donnell (45) Since 2006. Serves at Director - Transfer Agency Compliance of None
Anti-Money the discretion of the Pioneer and Anti-Money Laundering Officer
Laundering Officer Board. of all the Pioneer Funds since 2006
-----------------------------------------------------------------------------------------------------------------------------------
124 Pioneer Bond Fund | Annual Report | 6/30/16
How to Contact 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:
--------------------------------------------------------------------------------
Pioneer Funds
P.O. Box 55014
Boston, Massachusetts 02205-5014
Our toll-free fax 1-800-225-4240
Our internet e-mail address ask.pioneer@pioneerinvestments.com
(for general questions about Pioneer only)
Visit our web site: us.pioneerinvestments.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] PIONEER
Investments(R)
Pioneer Investment Management, Inc.
60 State Street
Boston, MA 02109
us.pioneerinvestments.com
Securities offered through Pioneer Funds Distributor, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
(C) 2016 Pioneer Investments 19398-10-0816
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 were $62,185
payable to Deloitte & Touche LLP for the year ended
June 30, 2016 and $56,422 for the year ended June 30, 2015.
(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 2016 or 2015.
(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 $8,778
payable to Deloitte & Touche LLP for the year ended
June 30, 2016 and $8,750 for the year ended June 30, 2015.
(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 2016 or 2015.
(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 Pioneer Investment Management, Inc ("PIM"), 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 2016 and 2015, 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 $8,778
payable to Deloitte & Touche LLP for the year ended
June 30, 2016 and $8,750 for the year ended June 30, 2015.
(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. 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, 2016
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, 2016
By (Signature and Title)* /s/ Mark E. Bradley
Mark E. Bradley, Treasurer & Chief Accounting & Financial Officer
Date August 29, 2016
* Print the name and title of each signing officer under his or her signature.