UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02864
Pioneer Bond Fund
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Terrence J. Cullen, Amundi Pioneer Asset Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: June 30
Date of reporting period: July 1, 2018 through June 30, 2019
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, 2019
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Ticker Symbols:
Class A PIOBX
Class C PCYBX
Class K PBFKX
Class R PBFRX
Class Y PICYX
Beginning in February 2021, as permitted by regulations adopted by the
Securities and Exchange Commission, paper copies of the Fund's shareholder
reports like this one will no longer be sent by mail, unless you specifically
request paper copies of the reports from the Fund or from your financial
intermediary, such as a broker-dealer, bank or insurance company. Instead, the
reports will be made available on the Fund's website, and you will be notified
by mail each time a report is posted and provided with a website link to access
the report.
If you already elected to receive shareholder reports electronically, you will
not be affected by this change and you need not take any action. You may elect
to receive shareholder reports and other communications electronically by
contacting your financial intermediary or, if you invest directly with the
Fund, by calling 1-800-225-6292.
You may elect to receive all future reports in paper free of charge. If you
invest directly with the Fund, you can inform the Fund that you wish to
continue receiving paper copies of your shareholder reports by calling
1-800-225-6292. If you invest through a financial intermediary, you can contact
your financial intermediary to request that you continue to receive paper
copies of your shareholder reports. Your election to receive reports in paper
will apply to all funds held in your account if you invest through your
financial intermediary or all funds held within the Pioneer Fund complex if you
invest directly.
[LOGO] Amundi Pioneer
==============
ASSET MANAGEMENT
visit us: www.amundipioneer.com/us
Table of Contents
President's Letter 2
Portfolio Management Discussion 4
Portfolio Summary 10
Prices and Distributions 11
Performance Update 12
Comparing Ongoing Fund Expenses 17
Schedule of Investments 19
Financial Statements 90
Notes to Financial Statements 99
Report of Independent Registered Public Accounting Firm 115
Additional Information 117
Trustees, Officers and Service Providers 118
Pioneer Bond Fund | Annual Report | 6/30/19 1
President's Letter
Since 1928, active portfolio management based on in-depth, fundamental
research, has been the foundation of Amundi Pioneer's investment approach. We
believe an active management investment strategy is a prudent approach to
investing, especially during periods of market volatility, which can result
from any number of risk factors, including slow U.S. economic growth, rising
interest rates, and geopolitical factors. Of course, in today's global economy,
risk factors extend well beyond U.S. borders. In fact, it's not unusual for
political and economic issues on the international front to cause or contribute
to volatility in U.S. markets.
At Amundi Pioneer, each security under consideration is researched by our team
of experienced investment professionals, who communicate directly with the
management teams of those companies. At the end of this research process, if we
have conviction in a company's business model and management team, and regard
the security as a potentially solid investment opportunity, an Amundi Pioneer
portfolio manager makes an active decision to invest in that security. The
portfolio resulting from these decisions represents an expression of his or her
convictions, and strives to balance overall risk and return opportunity.
As an example, the Standard & Poor's 500 Index -- the predominant benchmark for
many U.S. Large-Cap Core Equity funds -- has 500 stocks. An Amundi Pioneer
portfolio manager chooses to invest in only those companies that he or she
believes can offer the most attractive opportunities to pursue the fund's
investment objective, thus potentially benefiting the fund's shareowners. This
process results in a portfolio that does not own all 500 stocks, but a much
narrower universe.
The same active decision to invest in a company is also applied when we decide
to sell a security, either due to changing fundamentals, valuation concerns, or
market risks. We apply this active decision-making across all of our equity,
fixed-income, and global portfolios.
Today, as investors, we have many options. It is our view that active
management can serve shareholders well not only when markets are thriving, but
also during periods of market volatility and uncertainty, thus making it a
compelling investment choice. As you consider the many choices today, 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.
2 Pioneer Bond Fund | Annual Report | 6/30/19
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
Head of the Americas, President and CEO of U.S.
Amundi Pioneer Asset Management USA, Inc.
June 30, 2019
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 | 6/30/19 3
Portfolio Management Discussion | 6/30/19
In the following interview, Brad Komenda discusses the factors that affected
the performance of Pioneer Bond Fund during the 12-month period ended June 30,
2019. Mr. Komenda, Senior Vice President, Deputy Director of Investment-Grade
Corporates, and a portfolio manager at Amundi Pioneer Asset Management, Inc.
(Amundi Pioneer), is responsible for the day-to-day management of the Fund,
along with Kenneth J. Taubes, Executive Vice President and Chief Investment
Officer, U.S., and a portfolio manager at Amundi Pioneer, and Timothy Rowe,
Managing Director, Director of Multisector Fixed Income, and a portfolio
manager at Amundi Pioneer.
Q How did the Fund perform during the 12-month period ended June 30, 2019?
A Pioneer Bond Fund's Class A shares returned 6.93% at net asset value
during the 12-month period ended June 30, 2019, while the Fund's
benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index (the Bloomberg
Barclays Index), returned 7.87%. During the same period, the average
return of the 623 mutual funds in Morningstar's Intermediate Core-Plus
Bond Funds Category was 7.35%.
Q How would you describe the investment environment in the fixed-income
markets during the 12-month period ended June 30, 2019?
A Entering the period in July 2018, robust economic data and corporate
earnings results boosted credit-market sentiment, outweighing concerns
over U.S. trade disputes with some of its key trading partners, especially
China. The markets continued to focus heavily on economic growth and
inflation indicators in the effort to glean future U.S. Federal Reserve
(Fed) policy. Expectations at the time were for two additional
quarter-point federal funds rate increases by year-end, for a total of
four in 2018. Treasury yields rose in advance of the Fed's meeting on
September 25, 2018, which resulted in an increase of 0.25% in the upper
band for the benchmark overnight lending rate, from 2.00% to 2.25%.
Investment-grade corporate bonds led performance within the Fund's
benchmark, the Bloomberg Barclays Index, for the third quarter of 2018,
though high-yield corporate bonds outperformed the investment grade for
that quarter, given the "risk-on" attitude of many market participants.
Market conditions reversed dramatically in the fourth quarter of 2018,
however, with much of the damage coming in December. Investors' risk
sentiment weakened from the outset of the quarter, due to concerns
regarding the outlook for continued Fed tightening of monetary policy, the
4 Pioneer Bond Fund | Annual Report | 6/30/19
escalating U.S.-China trade dispute, and mounting evidence of slowing
economic growth overseas. In early October, equities embarked on a
downward trajectory that would persist essentially through the end of the
calendar year. The price of oil also fell on an unfavorable supply/demand
outlook. Nonetheless, the Fed in mid-December met expectations and raised
short-term interest rates by another quarter-point, up to the 2.25% to
2.50% range, while signaling the likelihood of two additional hikes in
2019. Market volatility for riskier assets spiked as participants feared
the Fed would "overshoot" on interest rates, given the uncertain outlook
on global economic growth. The 10-year Treasury yield declined from 3.01%
to 2.69% in December 2018, driven down by a global flight-to-safety trade.
Risk-oriented assets then rebounded sharply in January of 2019 as the Fed
pivoted to a less aggressive tone with regard to monetary policy,
announcing an early end to its balance-sheet reduction program (a partial
unwinding of its quantitative easing bond-purchasing initiatives of years
past), while indicating it was leaning toward putting interest-rate
increases on pause. In addition, weak economic data out of the euro zone
and China led to renewed accommodation from the European Central Bank
(ECB) and the People's Bank of China, to go along with the Fed's actions.
Modest progress on trade matters, a firming in oil prices, and positive
corporate earnings reports also helped boost investor sentiment for
credit-sensitive assets.
While there was some interim market volatility, credit-sensitive assets
generally maintained a firm tone through the end of April 2019, before
wavering in May after President Trump's announcement of plans to institute
a 25% tariff on some $200 billion worth of Chinese goods. In response to
the escalation in the U.S.-China trade dispute, which threatened an
already fragile economic growth backdrop, the Fed signaled a willingness
to implement one or more cuts in the federal funds rate before the end of
2019, and the policy reversal spurred a strong rally in the bond markets
over the final weeks of the period.
For the 12 months ended June 30, 2019, the investment-grade corporate bond
market posted a positive return of 10.72%, while high-yield corporate
bonds returned 7.48% (according to the Bloomberg Barclays U.S. Corporate
Bond Index and the Bloomberg Barclays U.S. Corporate High Yield Index,
respectively). Treasury bond performance was strong, too, as yields
declined along the length of the curve, while modestly trailing corporate
credit. Securitized assets, including mortgage-backed securities (MBS),
asset-backed securities (ABS), and commercial MBS (CMBS), delivered
notable positive returns for the period, while lagging the performance of
both corporate bonds and Treasury issues.
Pioneer Bond Fund | Annual Report | 6/30/19 5
Q What factors influenced the Fund's performance relative to the Bloomberg
Barclays Index during the 12-month period ended June 30, 2019?
A The Fund's absolute return was solid for the 12-month period, though it
lagged the return of the Bloomberg Barclays Index. Our tactical shifts
with respect to the Fund's credit exposure throughout the period made a
meaningful, positive contribution to benchmark-relative returns. As credit
spreads approached their widest point in late 2018, we began to add risk
to the portfolio, both in the investment-grade and high-yield corporate
sectors. We continued to add riskier assets into March 2019 as recession
fears abated, allowing the Fund's relative returns to benefit from the
strong performance of corporate credit. (Credit spreads are commonly
defined as the differences in yield between Treasuries and other types of
fixed-income securities with similar maturities.)
Conversely, a portfolio underweight to U.S. Treasuries and a corresponding
overweighting of securitized assets held back the Fund's returns relative
to the benchmark, as Treasury performance received a boost from declining
rates along the yield curve over the 12-month period. (When Treasury
yields decline, the prices of Treasuries typically increase.) Market
sentiment with respect to the securitized asset class received support
from strong consumer fundamentals over the period, but the sector's
performance did not benefit from the decline in interest rates to the same
degree as Treasury securities.
Another modest detractor from the Fund's benchmark-relative performance
during the 12-month period was interest-rate positioning. In particular,
the Fund was slightly underweight (or short compared to the benchmark)
overall portfolio duration for most of the first half of the period, which
limited relative returns as the 10-year Treasury yield declined. (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.)
Additionally, a non-benchmark portfolio position in Treasury Inflation-
Protected Securities (TIPS) was a drag on the Fund's benchmark-relative
returns. The performance of TIPS lagged nominal Treasuries for the period
as inflation expectations declined in late 2018. Moreover, similar to the
situation with securitized assets, TIPS did not benefit to the same degree
as comparable-maturity Treasuries from declining interest rates during the
period. Another non-benchmark Fund allocation that detracted from relative
performance was a small position in floating-rate bank loans, as the Fed's
policy shift from tightening (rate hikes) to potential easing (rate cuts)
limited gains for the asset class. (Bank loans have tended to perform well
during periods of rising interest rates due to their floating-rate
features.)
6 Pioneer Bond Fund | Annual Report | 6/30/19
We have maintained a modest, strategic Fund exposure to insurance-linked
securities (ILS). ILS are sponsored by property-and-casualty insurers
seeking to transfer some of the risk of having to pay damage claims in the
wake of a natural disaster. We believe ILS can offer a valuable source of
portfolio diversification* and incremental income. The Fund's allocation
to ILS was a modest detractor from benchmark-relative performance over the
12-month period, as initial damage-loss estimates for Typhoon Jebi, which
hit Japan in September of 2018, turned out to be greatly understated. In
addition, the asset class has experienced some recent outflows, which has
led to spread widening. Despite the underperformance over the period, we
decided to increase the Fund's ILS exposure on pricing weakness, which
created an attractive buying opportunity.
Q Did the Fund have any investments in derivative securities during the
12-month period ended June 30, 2019? If so, did the derivatives have any
material impact on performance?
A Yes, we invested the Fund in Treasury futures and credit-default swaps
(CDS) during the period. We typically invest in Treasury futures as part
of our duration-management strategy for the portfolio. We believe the use
of Treasury futures allows us to express our views on duration and
yield-curve positioning in the most efficient manner. We use CDS
investments to either increase or reduce the Fund's exposure to corporate
bonds very quickly, as cash-bond transactions take a little more time. The
use of derivatives did not have a material impact on the Fund's
performance during the period, as they were used as hedging instruments.
Q What factors affected the Fund's yield, or distributions** to
shareholders, during the 12-month period ended June 30, 2019?
A The overall decline in Treasury yields contributed to a lower portfolio
yield, as did the tightening of credit spreads over the 12-month period.
Q What is your investment outlook, and how is the Fund positioned heading
into its new fiscal year?
A In our view, the current level of uncertainty, coupled with extended
credit valuations, warrants a somewhat conservative investment stance. We
are not predicting that a recession is around the corner, but the risks
appear to be higher. At the end of June, yields on short-term Treasuries
exceeded those on the 10-year Treasury bond. Such an "inversion" of the
yield curve
* Diversification does not assure a profit nor protect against loss.
** Distributions are not guaranteed.
Pioneer Bond Fund | Annual Report | 6/30/19 7
is generally viewed as a sign that investors are pessimistic about the
economy's prospects and are thus bidding up prices for longer-term
Treasuries as part of a flight to safety.
As the second quarter of 2019 progressed, we reduced the Fund's risk
profile as spreads approached their earlier tight levels and the yield
curve's inversion increased in the wake of the Trump administration's
public statements on the trade situation. We trimmed exposure to corporate
credit over the second quarter, while increasing the portfolio's
allocation to out-of-benchmark securitized sectors, including non-agency
MBS and ABS, based on the view that the strong employment backdrop and
healthy household balance sheets make the fundamental outlook for
consumers favorable, relative to the outlook for companies. While the
Fund's allocation to securitized assets has weighed on benchmark-relative
performance of late, we believe their low correlation with credit-market
performance and their generally higher quality offer a good offset to
higher-risk sectors. We saw that scenario play out in the fourth quarter
of 2018, in fact, when MBS outperformed most non-government fixed-income
asset classes.
The Fund ended the month of June slightly underweight versus the benchmark
to investment-grade corporates, although it was overweight energy within
the sector, based on attractive valuations. Our focus in that area is on
midstream issuers, which have tended to be less vulnerable to energy-price
volatility. We have reduced the portfolio's floating-rate bank loan
position given the outlook for stable-to-declining short-term interest
rates, and based on our view that the potential upside for the loan asset
class is limited, as current valuations are near par (face) value.
Outside the United States, the Fund continues to hold a meaningful
position in core European bank issuers, with a tilt toward bonds that are
lower in the capital structure. We believe those issues are attractive
from a relative-valuation standpoint.
Given the recent decline in interest rates, we returned the portfolio to a
modest short-duration stance versus the Bloomberg Barclays Index as of
period-end. That said, the Fund is overweight at the long end of the yield
curve, as the curve is reasonably steep between the 10-year and 30-year
maturities.
8 Pioneer Bond Fund | Annual Report | 6/30/19
Please refer to the Schedule of Investments on pages 19-89 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
failure of the issuers of the underlying securities and their inability to meet
their debt obligations.
Prepayment risk is the chance that an issuer may exercise its right to prepay
its security, if falling interest rates prompt the issuer to do so. Forced to
reinvest the unanticipated proceeds at lower interest rates, the Fund would
experience a decline in income and lose the opportunity for additional price
appreciation.
Investments in high-yield or lower-rated securities are subject to
greater-than-average price volatility, illiquidity and possibility of default.
The securities issued by U.S. Government-sponsored entities (i.e., Fannie Mae,
Freddie Mac) are neither guaranteed nor issued by the U.S. Government.
The portfolio may invest in mortgage-backed securities, which during times of
fluctuating interest rates may increase or decrease more than other
fixed-income securities. Mortgage-backed securities are also subject to
pre-payments.
At times, the Fund's investments may represent industries or industry sectors
that are interrelated or have common risks, making the Fund more susceptible to
any economic, political, or regulatory developments or other risks affecting
those industries and sectors.
These risks may increase share price volatility.
Before investing, consider the product's investment objectives, risks, charges
and expenses. Contact your advisor or Amundi Pioneer Asset Management, Inc.,
for a prospectus or summary prospectus containing this information. Read it
carefully.
Any information in this shareholder report regarding market or economic trends
or the factors influencing the Fund's historical or future performance are
statements of opinion as of the date of this report. Past performance is no
guarantee of future results.
Pioneer Bond Fund | Annual Report | 6/30/19 9
Portfolio Summary | 6/30/19
Portfolio Diversification
--------------------------------------------------------------------------------
(As a percentage of total investments)*
[THE FOLLOWING DATA WAS REPRESENTED AS A PIE CHART IN THE PRINTED MATERIAL]
U.S. Government and Agency Obligations 32.2%
Corporate Bonds 27.5%
Collateralized Mortgage Obligations 22.7%
Asset Backed Securities 11.8%
Insurance-Linked Securities 3.1%
Senior Secured Floating Rate Loan Interests 1.7%
Convertible Preferred Stocks 0.5%
Municipal Bonds 0.3%
Foreign Government Bonds 0.2%
10 Largest Holdings
--------------------------------------------------------------------------------
(As a percentage of total investments)*
1. U.S. Treasury Bills, 7/23/19 1.80%
--------------------------------------------------------------------------------
2. U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46 1.43
--------------------------------------------------------------------------------
3. U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/48 1.22
--------------------------------------------------------------------------------
4. U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 1.17
--------------------------------------------------------------------------------
5. U.S. Treasury Bills, 7/9/19 1.17
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6. U.S. Treasury Bonds, 3.0%, 2/15/49 1.02
--------------------------------------------------------------------------------
7. U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/49 0.99
--------------------------------------------------------------------------------
8. Fannie Mae, 5.0%, 7/1/49 (TBA) 0.91
--------------------------------------------------------------------------------
9. Fannie Mae, 4.0%, 7/1/49 (TBA) 0.80
--------------------------------------------------------------------------------
10. U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 0.53
--------------------------------------------------------------------------------
* Excludes temporary cash investments and all derivative contracts except
for options purchased. The Fund is actively managed, and current holdings
may be different. The holdings listed should not be considered
recommendations to buy or sell any securities.
10 Pioneer Bond Fund | Annual Report | 6/30/19
Prices and Distributions | 6/30/19
Net Asset Value per Share
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--------------------------------------------------------------------------------
Class 6/30/19 6/30/18
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A $9.79 $9.45
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C $9.68 $9.35
--------------------------------------------------------------------------------
K $9.78 $9.45
--------------------------------------------------------------------------------
R $9.88 $9.54
--------------------------------------------------------------------------------
Y $9.70 $9.36
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Distributions per Share: 7/1/18-6/30/19
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net Investment Short-Term Long-Term
Class Income Capital Gains Capital Gains
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A $0.3008 $ -- $ --
--------------------------------------------------------------------------------
C $0.2310 $ -- $ --
--------------------------------------------------------------------------------
K $0.3418 $ -- $ --
--------------------------------------------------------------------------------
R $0.2793 $ -- $ --
--------------------------------------------------------------------------------
Y $0.3279 $ -- $ --
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Index Definition
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The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged measure of the
U.S. bond market. Index returns are calculated monthly, assume reinvestment of
dividends and, unlike Fund returns, do not reflect any fees, expenses or sales
charges. It is not possible to invest directly in an index.
The index defined here pertains to the "Value of $10,000 Investment" and "Value
of $5 Million Investment" charts on pages 12-16.
Pioneer Bond Fund | Annual Report | 6/30/19 11
Performance Update | 6/30/19 Class A Shares
Investment Returns
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The mountain chart on the right shows the change in value of a $10,000
investment made in Class A shares of Pioneer Bond Fund at public offering price
during the periods shown, compared to that of the Bloomberg Barclays U.S.
Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2019)
--------------------------------------------------------
Bloomberg
Net Public Barclays U.S.
Asset Offering Aggregate
Value Price Bond
Period (NAV) (POP) Index
--------------------------------------------------------
10 years 5.12% 4.64% 3.90%
5 years 2.93 1.99 2.95
1 year 6.93 2.11 7.87
--------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2018)
--------------------------------------------------------
Gross
--------------------------------------------------------
0.85%
--------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/09 $ 9,550 $10,000
6/10 $10,955 $10,950
6/11 $11,730 $11,377
6/12 $12,423 $12,227
6/13 $12,822 $12,143
6/14 $13,616 $12,674
6/15 $13,795 $12,910
6/16 $14,337 $13,685
6/17 $14,693 $13,641
6/18 $14,715 $13,587
6/19 $15,734 $14,657
Call 1-800-225-6292 or visit www.amundipioneer.com/us for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
NAV results represent the percent change in net asset value per share. NAV
returns would have been lower had sales charges been reflected. POP returns
reflect deduction of maximum 4.50% sales charge. All results are historical and
assume the reinvestment of dividends and capital gains. Other share classes are
available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers
may not be in effect for all funds. Certain fee waivers are contractual through
a specified period. Otherwise, fee waivers can be rescinded at any time. See
the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
12 Pioneer Bond Fund | Annual Report | 6/30/19
Performance Update | 6/30/19 Class C Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $10,000
investment made in Class C shares of Pioneer Bond Fund during the periods shown,
compared to that of the Bloomberg Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2019)
--------------------------------------------------------
Bloomberg
Barclays U.S.
Aggregate
If If Bond
Period Held Redeemed Index
--------------------------------------------------------
10 years 4.26% 4.26% 3.90%
5 years 2.17 2.17 2.95
1 year 6.10 6.10 7.87
--------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2018)
--------------------------------------------------------
Gross
--------------------------------------------------------
1.49%
--------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/09 $10,000 $10,000
6/10 $11,363 $10,950
6/11 $12,052 $11,377
6/12 $12,669 $12,227
6/13 $12,964 $12,143
6/14 $13,638 $12,674
6/15 $13,704 $12,910
6/16 $14,153 $13,685
6/17 $14,383 $13,641
6/18 $14,308 $13,587
6/19 $15,181 $14,657
Call 1-800-225-6292 or visit www.amundipioneer.com/us for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class C shares held for less than one year are 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. NAV returns would have been lower had sales
charges been reflected. All results are historical and assume the reinvestment
of dividends and capital gains. Other share classes are available for which
performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers
may not be in effect for all funds. Certain fee waivers are contractual through
a specified period. Otherwise, fee waivers can be rescinded at any time. See
the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/19 13
Performance Update | 6/30/19 Class K Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $5 million
investment made in Class K shares of Pioneer Bond Fund during the periods shown,
compared to that of the Bloomberg Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2019)
--------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------
10 years 5.36% 3.90%
5 years 3.34 2.95
1 year 7.28 7.87
--------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2018)
--------------------------------------------------------
Gross
--------------------------------------------------------
0.35%
--------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/09 $5,000,000 $5,000,000
6/10 $5,735,497 $5,474,923
6/11 $6,141,533 $5,688,540
6/12 $6,504,415 $6,113,678
6/13 $6,724,502 $6,071,640
6/14 $7,152,850 $6,337,157
6/15 $7,281,638 $6,454,908
6/16 $7,596,410 $6,842,283
6/17 $7,814,744 $6,820,747
6/18 $7,857,069 $6,793,673
6/19 $8,428,905 $7,328,284
Call 1-800-225-6292 or visit www.amundipioneer.com/us for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
The performance shown for Class K shares for the period prior to the
commencement of operations of Class K shares on December 20, 2012, is the net
asset value performance of the Fund's Class A shares, which has not been
restated to reflect any differences in expenses, including Rule 12b-1 fees
applicable to Class A shares. Since fees for Class A shares generally are
higher than those of Class K shares, the performance of Class K shares prior to
their inception would have been higher than the performance shown. Class K
shares are not subject to sales charges and are available for limited groups of
eligible investors, including institutional investors. All results are
historical and assume the reinvestment of dividends and capital gains.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers
may not be in effect for all funds. Certain fee waivers are contractual through
a specified period. Otherwise, fee waivers can be rescinded at any time. See
the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
14 Pioneer Bond Fund | Annual Report | 6/30/19
Performance Update | 6/30/19 Class R Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $10,000
investment made in Class R shares of Pioneer Bond Fund during the periods shown,
compared to that of the Bloomberg Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2019)
--------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------
10 years 4.78% 3.90%
5 years 2.67 2.95
1 year 6.62 7.87
--------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2018)
--------------------------------------------------------
Gross
--------------------------------------------------------
1.10%
--------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $10,000 Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/09 $10,000 $10,000
6/10 $11,418 $10,950
6/11 $12,179 $11,377
6/12 $12,859 $12,227
6/13 $13,219 $12,143
6/14 $13,979 $12,674
6/15 $14,128 $12,910
6/16 $14,645 $13,685
6/17 $14,971 $13,641
6/18 $14,960 $13,587
6/19 $15,950 $14,657
Call 1-800-225-6292 or visit www.amundipioneer.com/us for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class R shares are not subject to sales charges and are available for limited
groups of eligible investors, including institutional investors. All results
are historical and assume the reinvestment of dividends and capital gains.
Other share classes are available for which performance and expenses will
differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers
may not be in effect for all funds. Certain fee waivers are contractual through
a specified period. Otherwise, fee waivers can be rescinded at any time. See
the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/19 15
Performance Update | 6/30/19 Class Y Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $5 million
investment made in Class Y shares of Pioneer Bond Fund during the periods shown,
compared to that of the Bloomberg Barclays U.S. Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2019)
--------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------
10 years 5.39% 3.90%
5 years 3.23 2.95
1 year 7.30 7.87
--------------------------------------------------------
Expense Ratio
(Per prospectus dated November 1, 2018)
--------------------------------------------------------
Gross
--------------------------------------------------------
0.47%
--------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/09 $5,000,000 $5,000,000
6/10 $5,752,975 $5,474,923
6/11 $6,170,100 $5,688,540
6/12 $6,557,133 $6,113,678
6/13 $6,775,957 $6,071,640
6/14 $7,210,450 $6,337,157
6/15 $7,324,828 $6,454,908
6/16 $7,633,936 $6,842,283
6/17 $7,844,772 $6,820,747
6/18 $7,876,186 $6,793,673
6/19 $8,451,119 $7,328,284
Call 1-800-225-6292 or visit www.amundipioneer.com/us for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class Y shares are not subject to sales charges and are available for limited
groups of eligible investors, including institutional investors. All results
are historical and assume the reinvestment of dividends and capital gains.
Other share classes are available for which performance and expenses will
differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers
may not be in effect for all funds. Certain fee waivers are contractual through
a specified period. Otherwise, fee waivers can be rescinded at any time. See
the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
16 Pioneer Bond Fund | Annual Report | 6/30/19
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, 2019 through June 30, 2019.
-----------------------------------------------------------------------------------------------
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 1/1/19
-----------------------------------------------------------------------------------------------
Ending Account $1,069.30 $1,061.00 $1,072.80 $1,066.20 $1,073.00
Value (after
expenses)
on 6/30/19
-----------------------------------------------------------------------------------------------
Expenses Paid $ 4.35 $ 7.76 $ 1.89 $ 5.62 $ 2.51
During Period*
-----------------------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized expense ratio of 0.85%, 1.52%,
0.37%, 1.10%, and 0.49% for Class A, Class C, Class K, Class R, and Class
Y shares, respectively, multiplied by the average account value over the
period, multiplied by 181/365 (to reflect the one-half year period).
Pioneer Bond Fund | Annual Report | 6/30/19 17
Hypothetical Example for Comparison Purposes
The table below provides information about hypothetical account values and
hypothetical expenses based on the Fund's actual expense ratio and an assumed
rate of return of 5% per year before expenses, which is not the Fund's actual
return. The hypothetical account values and expenses may not be used to
estimate the actual ending account balance or expenses you paid for the period.
You may use this information to compare the ongoing costs of investing in the
Fund and other funds. To do so, compare this 5% hypothetical example with the
5% hypothetical examples that appear in the shareholder reports of the other
funds.
Please note that the expenses shown in the tables are meant to highlight your
ongoing costs only and do not reflect any transaction costs, such as sales
charges (loads) that are charged at the time of the transaction. Therefore, the
table below is useful in comparing ongoing costs only and will not help you
determine the relative total costs of owning different funds. In addition, if
these transaction costs were included, your costs would have been higher.
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on a hypothetical 5% per year return before expenses, reflecting the
period from January 1, 2019 through June 30, 2019.
---------------------------------------------------------------------------------------------
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 1/1/19
---------------------------------------------------------------------------------------------
Ending Account $1,020.58 $1,017.26 $1,022.96 $1,019.34 $1,022.36
Value (after
expenses)
on 6/30/19
---------------------------------------------------------------------------------------------
Expenses Paid $ 4.26 $ 7.60 $ 1.86 $ 5.51 $ 2.46
During Period*
---------------------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized expense ratio of 0.85%, 1.52%,
0.37%, 1.10%, and 0.49% for Class A, Class C, Class K, Class R, and Class
Y shares, respectively, multiplied by the average account value over the
period, multiplied by 181/365 (to reflect the one-half year period).
18 Pioneer Bond Fund | Annual Report | 6/30/19
Schedule of Investments | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Shares Value
-----------------------------------------------------------------------------------------------------------------------------------
UNAFFILIATED ISSUERS -- 100.4%
CONVERTIBLE PREFERRED STOCKS -- 0.5%
of Net Assets
Banks -- 0.5%
9,690(a) Bank of America Corp., 7.25% $ 13,294,680
9,656(a) Wells Fargo & Co., 7.5% 13,172,715
--------------
Total Banks $ 26,467,395
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $22,381,605) $ 26,467,395
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($)
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- 11.7%
of Net Assets
689,159(b) 321 Henderson Receivables I LLC, Series 2005-1A,
Class A1, 2.624% (1 Month USD LIBOR + 23 bps),
11/15/40 (144A) $ 673,593
500,000 321 Henderson Receivables III LLC, Series 2008-1A,
Class B, 8.37%, 1/15/46 (144A) 615,705
1,307,517 ACC Trust, Series 2018-1, Class A, 3.7%,
12/21/20 (144A) 1,309,465
4,300,000 Access Point Funding I LLC, Series 2017-A, Class B,
3.97%, 4/15/29 (144A) 4,338,874
4,000,000 American Credit Acceptance Receivables Trust, Series
2019-2, Class E, 4.29%, 6/12/25 (144A) 4,049,736
2,100,000 Ascentium Equipment Receivables Trust, Series
2017-2A, Class D, 3.56%, 10/10/25 (144A) 2,121,803
1,100,000 Ascentium Equipment Receivables Trust, Series
2018-1A, Class D, 3.99%, 12/11/23 (144A) 1,134,044
1,750,000 Avid Automobile Receivables Trust, Series 2018-1,
Class B, 3.85%, 7/15/24 (144A) 1,761,921
800,000 Axis Equipment Finance Receivables IV LLC, Series
2018-1A, Class C, 3.74%, 4/22/24 (144A) 814,169
1,249,999 Axis Equipment Finance Receivables IV LLC, Series
2018-1A, Class D, 3.98%, 4/22/24 (144A) 1,273,400
1,675,000 Axis Equipment Finance Receivables VI LLC, Series
2018-2A, Class C, 4.27%, 1/20/23 (144A) 1,741,118
5,784,000 Axis Equipment Finance Receivables VI LLC, Series
2018-2A, Class D, 4.45%, 6/20/23 (144A) 6,000,481
5,009,064(c) Bayview Koitere Fund Trust, Series 2017-RT4, Class A,
3.5%, 7/28/57 (144A) 5,113,486
1,416,000 BCC Funding XIV LLC, Series 2018-1A, Class B, 3.39%,
8/21/23 (144A) 1,442,622
76,391(b) Bear Stearns Asset Backed Securities Trust, Series
2006-SD2, Class A3, 2.894% (1 Month USD LIBOR +
49 bps), 6/25/36 76,306
944,952 BXG Receivables Note Trust, Series 2015-A, Class A,
2.88%, 5/2/30 (144A) 940,793
5,091,229 Cazenovia Creek Funding II LLC, Series 2018-1A,
Class A, 3.561%, 7/15/30 (144A) 5,123,021
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 19
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
1,400,000 CIG Auto Receivables Trust, Series 2017-1A, Class B,
3.81%, 5/15/23 (144A) $ 1,407,398
8,600,000 CIG Auto Receivables Trust, Series 2019-1A, Class B,
3.59%, 8/15/24 (144A) 8,755,270
1,335,177(b) Commonbond Student Loan Trust, Series 2017-BGS,
Class A2, 3.054% (1 Month USD LIBOR + 65 bps),
9/25/42 (144A) 1,326,577
4,911,780 Commonbond Student Loan Trust, Series 2018-CGS,
Class A1, 3.87%, 2/25/46 (144A) 5,099,556
3,287,034 Conn's Receivables Funding LLC, Series 2019-A,
Class A, 3.4%, 10/16/23 (144A) 3,300,432
3,000,000 CoreVest American Finance Trust, Series 2017-1,
Class C, 3.756%, 10/15/49 (144A) 3,025,938
1,500,000 Credit Acceptance Auto Loan Trust, Series 2016-2A,
Class C, 4.29%, 11/15/24 (144A) 1,502,275
376,305(b) DRB Prime Student Loan Trust, Series 2016-B,
Class A1, 4.204% (1 Month USD LIBOR + 180 bps),
6/25/40 (144A) 385,668
3,750,000 Drive Auto Receivables Trust, Series 2018-1, Class C,
3.22%, 3/15/23 3,764,330
4,000,000 Drive Auto Receivables Trust, Series 2019-1, Class C,
3.78%, 4/15/25 4,080,138
118,539(b) Drug Royalty II LP 2, Series 2014-1, Class A1, 5.637%
(3 Month USD LIBOR + 285 bps), 7/15/23 (144A) 119,019
4,500,000 Elm Trust, Series 2018-2A, Class A2, 4.605%,
10/20/27 (144A) 4,541,754
1,300,000 Engs Commercial Finance Trust, Series 2016-1A,
Class B, 3.45%, 3/22/22 (144A) 1,293,143
1,900,000 Engs Commercial Finance Trust, Series 2016-1A,
Class D, 5.22%, 1/22/24 (144A) 1,891,902
2,000,000 Engs Commercial Finance Trust, Series 2018-1A,
Class B, 3.8%, 2/22/23 (144A) 2,043,420
1,400,000 Engs Commercial Finance Trust, Series 2018-1A,
Class C, 4.05%, 2/22/23 (144A) 1,436,312
1,500,000 Exeter Automobile Receivables Trust, Series 2018-1A,
Class C, 3.03%, 1/17/23 (144A) 1,510,954
4,000,000 ExteNet LLC, Series 2019-1A, Class C, 5.219%,
7/26/49 (144A) 4,000,000
2,373,005 FCI Funding LLC, Series 2019-1A, Class A, 3.63%,
2/18/31 (144A) 2,391,614
2,920,622 FCI Funding LLC, Series 2019-1A, Class B, 4.03%,
2/18/31 (144A) 2,943,695
10,615,373(c) Finance of America Structured Securities Trust, Series
2019-A, Class JR2, 0.0%, 3/25/69 11,055,072
3,000,000(c) Finance of America Structured Securities Trust, Series
2019-HB1, Class M2, 3.676%, 4/25/29 (144A) 2,999,997
1,700,000(c) Finance of America Structured Securities Trust, Series
2019-HB1, Class M3, 3.813%, 4/25/29 (144A) 1,699,996
The accompanying notes are an integral part of these financial statements.
20 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
1,140,000 Ford Credit Auto Owner Trust, Series 2018-2, Class A,
3.47%, 1/15/30 (144A) $ 1,194,075
3,750,000 Foundation Finance Trust, Series 2019-1A, Class B,
4.22%, 11/15/34 (144A) 3,748,363
4,200,000 Four Seas LP, Series 2017-1A, Class A2, 5.927%,
8/28/27 (144A) 4,227,563
1,000,000 Foursight Capital Automobile Receivables Trust, Series
2018-1, Class D, 4.19%, 11/15/23 (144A) 1,026,577
1,750,000 Foursight Capital Automobile Receivables Trust, Series
2019-1, Class D, 3.27%, 6/15/25 (144A) 1,755,966
5,080,000 Genesis Sales Finance Master Trust, Series 2019-AA,
Class A, 4.68%, 8/20/23 (144A) 5,183,834
6,000,000 GLS Auto Receivables Issuer Trust, Series 2019-1A,
Class C, 3.87%, 12/16/24 (144A) 6,144,815
415,000 GLS Auto Receivables Trust, Series 2017-1A, Class B,
2.98%, 12/15/21 (144A) 415,818
18,195(d) GMAT Trust, Series 2013-1A, Class A, 6.967%,
11/25/43 (144A) 18,206
63,985(b) GSRPM Mortgage Loan Trust, Series 2006-2, Class A2,
2.704% (1 Month USD LIBOR + 30 bps),
9/25/36 (144A) 63,977
4,858,288 Hardee's Funding LLC, Series 2018-1A, Class A2II,
4.959%, 6/20/48 (144A) 5,140,651
2,250,000(b) Hertz Fleet Lease Funding LP, Series 2016-1, Class E,
5.912% (1 Month USD LIBOR + 350 bps),
4/10/30 (144A) 2,253,100
1,850,000 Hertz Fleet Lease Funding LP, Series 2018-1, Class C,
3.77%, 5/10/32 (144A) 1,872,748
2,800,000 Hertz Fleet Lease Funding LP, Series 2018-1, Class D,
4.17%, 5/10/32 (144A) 2,836,890
4,344,000 HOA Funding LLC, Series 2014-1A, Class A2, 4.846%,
8/20/44 (144A) 4,347,388
6,117,968(b) Home Partners of America Trust, Series 2018-1,
Class A, 3.294% (1 Month USD LIBOR + 90 bps),
7/17/37 (144A) 6,087,569
755,423 Icon Brand Holdings LLC, Series 2012-1A, Class A,
4.229%, 1/25/43 (144A) 561,400
206,522 Icon Brand Holdings LLC, Series 2013-1A, Class A2,
4.352%, 1/25/43 (144A) 151,461
3,650,000(b) Invitation Homes Trust, Series 2018-SFR1, Class C,
3.644% (1 Month USD LIBOR + 125 bps),
3/17/37 (144A) 3,630,701
4,730,000(b) Invitation Homes Trust, Series 2018-SFR2, Class D,
3.844% (1 Month USD LIBOR + 145 bps),
6/17/37 (144A) 4,691,277
6,860,000(b) Invitation Homes Trust, Series 2018-SFR3, Class D,
4.044% (1 Month USD LIBOR + 165 bps),
7/17/37 (144A) 6,848,641
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 21
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
8,960,000(b) Invitation Homes Trust, Series 2018-SFR3, Class E,
4.394% (1 Month USD LIBOR + 200 bps),
7/17/37 (144A) $ 8,974,020
341,470 JG Wentworth XXII LLC, Series 2010-3A, Class A, 3.82%,
12/15/48 (144A) 353,197
3,925,243 JG Wentworth XLI LLC, Series 2018-1A, Class A, 3.74%,
10/17/72 (144A) 4,167,568
6,500,000 JG Wentworth XLIII LLC, Series 2019-1A, Class A, 3.82%,
8/17/71 (144A) 6,936,050
14,500,000 Kabbage Funding LLC, Series 2019-1, Class B, 4.071%,
3/15/24 (144A) 14,680,713
3,651,216 Marlette Funding Trust, Series 2018-3A, Class A, 3.2%,
9/15/28 (144A) 3,661,690
5,950,000 Marlette Funding Trust, Series 2019-2A, Class C, 4.11%,
7/16/29 (144A) 6,044,056
1,750,000 Marlin Receivables LLC, Series 2018-1A, Class C, 3.7%,
6/20/23 (144A) 1,790,941
8,726,000(c) Mill City Mortgage Loan Trust, Series 2016-1, Class B2,
4.015%, 4/25/57 (144A) 8,905,890
13,991,893(c) Mill City Mortgage Loan Trust, Series 2018-2, Class M1,
3.75%, 5/25/58 (144A) 14,446,858
4,997,105(c) Mill City Mortgage Loan Trust, Series 2018-2, Class M3,
3.75%, 5/25/58 (144A) 4,937,034
24,800,000(c) Mill City Mortgage Loan Trust, Series 2018-4, Class A1B,
3.5%, 4/25/66 (144A) 25,138,981
2,645,000(c) Nationstar HECM Loan Trust, Series 2018-3A, Class M3,
4.353%, 11/25/28 (144A) 2,674,312
3,272,332(b) Newtek Small Business Loan Trust, Series 2017-1,
Class A, 4.404% (1 Month USD LIBOR + 200 bps),
2/15/43 (144A) 3,270,014
1,677,877(b) NovaStar Mortgage Funding Trust, Series 2005-3,
Class M1, 3.079% (1 Month USD LIBOR +
68 bps), 1/25/36 1,675,866
1,775,000 Ocwen Master Advance Receivables Trust, Series
2016-T2, Class BT2, 3.265%, 8/16/49 (144A) 1,774,783
2,673,571 Orange Lake Timeshare Trust, Series 2019-A, Class A,
3.06%, 4/9/38 (144A) 2,711,299
3,888,860 Orange Lake Timeshare Trust, Series 2019-A, Class D,
4.93%, 4/9/38 (144A) 3,946,954
612,077 Oxford Finance Funding LLC, Series 2016-1A, Class A,
3.968%, 6/17/24 (144A) 617,438
3,000,000 Oxford Finance Funding LLC, Series 2019-1A, Class B,
5.438%, 2/15/27 (144A) 3,070,314
3,730,000 Progress Residential Trust, Series 2017-SFR1, Class E,
4.261%, 8/17/34 (144A) 3,828,808
6,180,000 Progress Residential Trust, Series 2017-SFR2, Class E,
4.142%, 12/17/34 (144A) 6,297,830
3,250,000 Progress Residential Trust, Series 2018-SFR2, Class E,
4.656%, 8/17/35 (144A) 3,368,852
The accompanying notes are an integral part of these financial statements.
22 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
5,810,000 Progress Residential Trust, Series 2018-SFR3, Class E,
4.873%, 10/17/35 (144A) $ 6,079,272
8,370,000 Progress Residential Trust, Series 2019-SFR2, Class E,
4.142%, 5/17/36 (144A) 8,587,304
2,000,000 Purchasing Power Funding LLC, Series 2018-A, Class A,
3.34%, 8/15/22 (144A) 2,005,115
2,000,000(c) RMF Buyout Issuance Trust, Series 2019-1, Class M3,
3.011%, 7/25/29 (144A) 1,999,999
1,609,386 SCF Equipment Leasing LLC, Series 2017-2A, Class A,
3.41%, 12/20/23 (144A) 1,625,189
2,250,000 SCF Equipment Leasing LLC, Series 2018-1A, Class C,
4.21%, 4/20/27 (144A) 2,368,058
7,400,000 SCF Equipment Leasing LLC, Series 2019-1A, Class C,
3.92%, 11/20/26 (144A) 7,608,327
3,047,933 Spirit Master Funding LLC, Series 2014-4A, Class A2,
4.629%, 1/20/45 (144A) 3,264,988
14,000,000 SpringCastle Funding Asset-Backed Notes, Series
2019-AA, Class A, 3.2%, 5/27/36 (144A) 14,160,583
1,468,750 STORE Master Funding I LLC, Series 2015-1A,
Class A1, 3.75%, 4/20/45 (144A) 1,495,636
3,200,000 Tidewater Auto Receivables Trust, Series 2018-AA,
Class C, 3.84%, 11/15/24 (144A) 3,262,086
1,078,000 Tidewater Auto Receivables Trust, Series 2018-AA,
Class D, 4.3%, 11/15/24 (144A) 1,102,834
472,237 TLF National Tax Lien Trust, Series 2017-1A, Class B,
3.84%, 12/15/29 (144A) 473,510
885,000(c) Towd Point Mortgage Trust, Series 2015-2, Class 1M1,
3.25%, 11/25/60 (144A) 902,197
12,000,000(c) Towd Point Mortgage Trust, Series 2015-4, Class A2,
3.75%, 4/25/55 (144A) 12,356,933
9,375,000(c) Towd Point Mortgage Trust, Series 2015-5, Class M1,
3.5%, 5/25/55 (144A) 9,623,256
10,011,000(c) Towd Point Mortgage Trust, Series 2016-3, Class M1,
3.5%, 4/25/56 (144A) 10,360,658
9,130,000(c) Towd Point Mortgage Trust, Series 2016-4, Class M1,
3.25%, 7/25/56 (144A) 9,154,421
12,600,000(c) Towd Point Mortgage Trust, Series 2017-2, Class M2,
3.75%, 4/25/57 (144A) 12,947,744
22,338,000(c) Towd Point Mortgage Trust, Series 2017-4, Class A2,
3.0%, 6/25/57 (144A) 22,213,591
20,071,000(c) Towd Point Mortgage Trust, Series 2017-6, Class A2,
3.0%, 10/25/57 (144A) 19,926,113
7,000,000(c) Towd Point Mortgage Trust, Series 2017-6, Class M1,
3.25%, 10/25/57 (144A) 6,966,544
19,865,000(c) Towd Point Mortgage Trust, Series 2018-2, Class A2,
3.5%, 3/25/58 (144A) 20,065,410
3,250,000(c) Towd Point Mortgage Trust, Series 2018-3, Class A2,
3.875%, 5/25/58 (144A) 3,396,250
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 23
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
11,936,344(c) Towd Point Mortgage Trust, Series 2018-4, Class A1,
3.0%, 6/25/58 (144A) $ 12,116,627
13,650,000(c) Towd Point Mortgage Trust, Series 2018-4, Class A2,
3.0%, 6/25/58 (144A) 13,308,062
15,025,000(c) Towd Point Mortgage Trust, Series 2018-5, Class A1B,
3.25%, 7/25/58 (144A) 15,085,333
9,215,859(c) Towd Point Mortgage Trust, Series 2018-SJ1, Class A1,
4.0%, 10/25/58 (144A) 9,313,195
2,550,000(c) Towd Point Mortgage Trust, Series 2018-SJ1, Class A2,
4.25%, 10/25/58 (144A) 2,596,152
3,986,841(c) Towd Point Mortgage Trust, Series 2018-SJ1, Class XA,
5.0%, 10/25/58 (144A) 3,980,884
13,500,000(c) Towd Point Mortgage Trust, Series 2019-1, Class A2,
3.75%, 3/25/58 (144A) 13,643,563
25,435,000(c) Towd Point Mortgage Trust, Series 2019-2, Class A2,
3.75%, 12/25/58 (144A) 25,538,464
7,400,000(c) Towd Point Mortgage Trust, Series 2019-3, Class A2,
4.0%, 2/25/59 (144A) 7,811,242
13,515,000(b) Towd Point Mortgage Trust, Series 2019-HY2, Class A2,
3.804% (1 Month USD LIBOR + 140 bps),
5/25/58 (144A) 13,572,222
6,979,665(c) Towd Point Mortgage Trust, Series 2019-SJ1, Class A1,
3.75%, 11/25/58 (144A) 7,058,431
3,000,000(b) Trafigura Securitisation Finance Plc, Series 2017-1A,
Class A1, 3.244% (1 Month USD LIBOR +
85 bps), 12/15/20 (144A) 3,010,162
8,500,000 Tricon American Homes Trust, Series 2017-SFR2,
Class B, 3.275%, 1/17/36 (144A) 8,623,252
1,250,000 United Auto Credit Securitization Trust, Series 2019-1,
Class D, 3.47%, 8/12/24 (144A) 1,260,405
2,125,000 United Auto Credit Securitization Trust, Series 2019-1,
Class E, 4.29%, 8/12/24 (144A) 2,144,411
37,299 United States Small Business Administration,
6.14%, 1/1/22 38,309
163,888 United States Small Business Administration, Series
2005-20B, Class 1, 4.625%, 2/1/25 170,950
146,131 United States Small Business Administration, Series
2005-20E, Class 1, 4.84%, 5/1/25 153,111
221,986 United States Small Business Administration, Series
2008-20D, Class 1, 5.37%, 4/1/28 238,851
239,258 United States Small Business Administration, Series
2008-20H, Class 1, 6.02%, 8/1/28 259,307
148,815 United States Small Business Administration, Series
2008-20J, Class 1, 5.63%, 10/1/28 161,854
127,457 United States Small Business Administration, Series
2008-20L, Class 1, 6.22%, 12/1/28 140,313
56,155 United States Small Business Administration, Series
2009-20A, Class 1, 5.72%, 1/1/29 61,173
The accompanying notes are an integral part of these financial statements.
24 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- (continued)
137,716 United States Small Business Administration, Series
2009-20I, Class 1, 4.2%, 9/1/29 $ 145,908
2,682,578 Upstart Securitization Trust, Series 2018-2, Class A,
3.33%, 12/22/25 (144A) 2,686,452
2,450,000 US Auto Funding LLC, Series 2019-1A, Class B, 3.99%,
12/15/22 (144A) 2,488,859
559,257 Welk Resorts LLC, Series 2015-AA, Class A, 2.79%,
6/16/31 (144A) 559,236
1,986,230 Welk Resorts LLC, Series 2017-AA, Class B, 3.41%,
6/15/33 (144A) 1,987,179
2,500,000 Welk Resorts LLC, Series 2019-AA, Class C, 3.34%,
6/15/38 (144A) 2,505,015
1,299,045 Westgate Resorts LLC, Series 2016-1A, Class B, 4.5%,
12/20/28 (144A) 1,299,423
1,004,675 Westgate Resorts LLC, Series 2017-1A, Class A, 3.05%,
12/20/30 (144A) 1,005,594
5,747,158 Westgate Resorts LLC, Series 2018-1A, Class C, 4.1%,
12/20/31 (144A) 5,803,671
3,870,000 Westlake Automobile Receivables Trust, Series
2018-3A, Class E, 4.9%, 12/15/23 (144A) 3,984,436
2,500,000 WRG Debt Funding II LLC, Series 2017-1, Class A,
4.458%, 3/15/26 (144A) 2,510,645
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSET BACKED SECURITIES
(Cost $636,041,669) $ 651,788,194
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
22.6% of Net Assets
3,190,000 A10 Term Asset Financing LLC, Series 2017-1A,
Class B, 3.15%, 3/15/36 (144A) $ 3,192,603
3,772,936(c) Agate Bay Mortgage Trust, Series 2015-1, Class A13,
3.5%, 1/25/45 (144A) 3,793,393
16,705(b) Alternative Loan Trust, Series 2003-14T1, Class A9,
2.854% (1 Month USD LIBOR + 45 bps), 8/25/18 10,382
2,800,000 American Homes 4 Rent, Series 2014-SFR3, Class C,
4.596%, 12/17/36 (144A) 3,000,950
700,000 American Homes 4 Rent, Series 2014-SFR3, Class D,
5.04%, 12/17/36 (144A) 755,930
1,300,000 American Homes 4 Rent, Series 2015-SFR1, Class C,
4.11%, 4/17/52 (144A) 1,361,167
2,320,000(c) Angel Oak Mortgage Trust I LLC, Series 2019-1,
Class M1, 4.5%, 11/25/48 (144A) 2,414,311
6,700,000(c) Angel Oak Mortgage Trust I LLC, Series 2019-2,
Class M1, 4.065%, 3/25/49 (144A) 6,905,516
5,200,000(b) Arbor Realty Commercial Real Estate Notes, Ltd.,
Series 2017-FL1, Class B, 4.894% (1 Month USD
LIBOR + 250 bps), 4/15/27 (144A) 5,356,000
405,189 B2R Mortgage Trust, Series 2015-1, Class A1, 2.524%,
5/15/48 (144A) 403,532
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 25
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
3,500,000(c) BAMLL Commercial Mortgage Securities Trust, Series
2016-FR14, Class A, 2.981%, 2/27/48 (144A) $ 3,490,504
7,460,000 BANK, Series 2017-BNK5, Class AS, 3.624%, 6/15/60 7,773,183
9,000,000 BANK, Series 2017-BNK7, Class AS, 3.748%, 9/15/60 9,449,359
4,412,656(d)(e) Bayview Commercial Asset Trust, Series 2007-2A,
Class IO, 0.0%, 7/25/37 (144A) --
6,143,918(c) Bayview Opportunity Master Fund IVb Trust, Series
2017-RT2, Class A, 3.5%, 8/28/57 (144A) 6,278,067
2,815,594(c) Bayview Opportunity Master Fund IVb Trust, Series
2017-SPL4, Class A, 3.5%, 1/28/55 (144A) 2,865,444
663,523(c) Bear Stearns Commercial Mortgage Securities Trust,
Series 2005-PWR7, Class B, 5.214%, 2/11/41 661,612
2,839,875(b) Bellemeade Re, Ltd., Series 2017-1, Class M1,
4.104% (1 Month USD LIBOR + 170 bps),
10/25/27 (144A) 2,857,436
6,440,000(b) Bellemeade Re, Ltd., Series 2018-1A, Class M1B,
4.004% (1 Month USD LIBOR + 160 bps),
4/25/28 (144A) 6,463,258
5,430,000(b) Bellemeade Re, Ltd., Series 2018-2A, Class M1B,
3.754% (1 Month USD LIBOR + 135 bps),
8/25/28 (144A) 5,429,995
6,720,000(b) Bellemeade Re, Ltd., Series 2018-3A, Class M1B,
4.254% (1 Month USD LIBOR + 185 bps),
10/25/27 (144A) 6,730,066
5,250,000(b) Bellemeade Re, Ltd., Series 2018-3A, Class M2,
5.154% (1 Month USD LIBOR + 275 bps),
10/25/28 (144A) 5,214,150
4,530,000(b) Bellemeade Re, Ltd., Series 2019-1A, Class M1B,
4.154% (1 Month USD LIBOR + 175 bps),
3/25/29 (144A) 4,563,567
4,060,000(b) Bellemeade Re, Ltd., Series 2019-1A, Class M2,
5.104% (1 Month USD LIBOR + 270 bps),
3/25/29 (144A) 4,065,106
7,000,000 Benchmark Mortgage Trust, Series 2018-B2, Class A4,
3.615%, 2/15/51 7,470,623
4,200,000 Benchmark Mortgage Trust, Series 2018-B5, Class A3,
3.944%, 7/15/51 4,600,433
7,400,000 Benchmark Mortgage Trust, Series 2018-B8, Class A4,
3.963%, 1/15/52 8,119,763
4,700,000(b) BTH-13 Mortgage Backed Securities Trust, Series
2018-13, Class A, 4.94% (1 Month USD LIBOR +
250 bps), 8/18/21 (144A) 4,702,966
4,326,000 Cantor Commercial Real Estate Lending, Series
2019-CF1, Class D, 3.0%, 5/15/52 (144A) 3,901,901
3,945,592(c) Cascade Funding Mortgage Trust, Series 2018-RM2,
Class A, 4.0%, 10/25/68 (144A) 4,029,363
3,076,163(c) Cascade Funding Mortgage Trust, Series 2018-RM2,
Class C, 4.0%, 10/25/68 (144A) 3,020,954
The accompanying notes are an integral part of these financial statements.
26 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
3,250,000 CCRESG Commercial Mortgage Trust, Series 2016-HEAT,
Class A, 3.357%, 4/10/29 (144A) $ 3,277,672
3,675,000 CD Mortgage Trust, Series 2018-CD7, Class A3,
4.013%, 8/15/51 4,047,094
4,000,000 CFCRE Commercial Mortgage Trust, Series 2016-C3,
Class A2, 3.597%, 1/10/48 4,217,501
13,734,221(c) Chase Home Lending Mortgage Trust, Series
2019-ATR1, Class A4, 4.0%, 4/25/49 (144A) 13,973,306
147,375(c) CHL Mortgage Pass-Through Trust, Series 2003-56,
Class 4A2, 4.492%, 12/25/33 153,216
3,400,000(c) Citigroup Commercial Mortgage Trust, Series
2014-GC19, Class B, 4.805%, 3/10/47 3,668,503
6,000,000(c) Citigroup Commercial Mortgage Trust, Series
2014-GC25, Class B, 4.345%, 10/10/47 6,373,093
3,100,000 Citigroup Commercial Mortgage Trust, Series
2015-GC27, Class A5, 3.137%, 2/10/48 3,208,422
6,052,000(c) Citigroup Commercial Mortgage Trust, Series
2015-GC33, Class B, 4.721%, 9/10/58 6,512,706
4,621,000 Citigroup Commercial Mortgage Trust, Series 2016-P5,
Class D, 3.0%, 10/10/49 (144A) 4,085,655
7,700,000 Citigroup Commercial Mortgage Trust, Series
2019-SMRT, Class A, 4.149%, 1/10/24 (144A) 8,251,110
10,285,305(c) Citigroup Mortgage Loan Trust, Series 2018-RP2,
Class A1, 3.5%, 2/25/58 (144A) 10,512,120
12,028,620(c) Citigroup Mortgage Loan Trust, Series 2019-RP1,
Class A1, 3.5%, 1/25/66 (144A) 12,397,705
8,961,556(c) Citigroup Mortgage Loan Trust, Inc., Series 2018-RP1,
Class A1, 3.0%, 9/25/64 (144A) 9,084,530
1,208,288 Colony American Finance, Ltd., Series 2015-1, Class A,
2.896%, 10/15/47 (144A) 1,206,394
2,400,000(d) Colony American Finance, Ltd., Series 2016-1, Class D,
5.972%, 6/15/48 (144A) 2,480,150
2,400,000(d) Colony American Finance, Ltd., Series 2016-2, Class D,
5.028%, 11/15/48 (144A) 2,466,823
2,090,000 COMM Mortgage Trust, Series 2012-CR2, Class AM,
3.791%, 8/15/45 2,155,061
2,933,640 COMM Mortgage Trust, Series 2012-CR3, Class A3,
2.822%, 10/15/45 2,966,422
5,000,000(c) COMM Mortgage Trust, Series 2013-CR11, Class C,
5.286%, 8/10/50 (144A) 5,298,896
1,900,000 COMM Mortgage Trust, Series 2013-LC6, Class A4,
2.941%, 1/10/46 1,937,174
2,500,000(c) COMM Mortgage Trust, Series 2014-CR16, Class C,
5.093%, 4/10/47 2,666,293
7,325,000(c) COMM Mortgage Trust, Series 2014-CR20, Class C,
4.651%, 11/10/47 7,735,290
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 27
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
264,441(b) COMM Mortgage Trust, Series 2014-FL5, Class B,
3.826% (1 Month USD LIBOR + 215 bps),
10/15/31 (144A) $ 264,088
6,360,204 COMM Mortgage Trust, Series 2014-UBS3, Class A3,
3.546%, 6/10/47 6,679,470
4,500,000(c) COMM Mortgage Trust, Series 2014-UBS3, Class C,
4.911%, 6/10/47 4,658,746
4,100,000 COMM Mortgage Trust, Series 2014-UBS4, Class A4,
3.42%, 8/10/47 4,287,408
5,200,000 COMM Mortgage Trust, Series 2015-3BP, Class A,
3.178%, 2/10/35 (144A) 5,402,914
4,000,000(c) COMM Mortgage Trust, Series 2015-CR23, Class CMD,
3.807%, 5/10/48 (144A) 4,004,178
3,104,000(c) COMM Mortgage Trust, Series 2015-CR25, Class B,
4.695%, 8/10/48 3,319,546
6,300,000 COMM Mortgage Trust, Series 2015-CR26, Class A3,
3.359%, 10/10/48 6,582,964
4,500,000(c) COMM Mortgage Trust, Series 2015-DC1, Class B,
4.035%, 2/10/48 4,663,478
15,470,000(b) Connecticut Avenue Securities Trust, Series 2019-R01,
Class 2M2, 4.854% (1 Month USD LIBOR + 245 bps),
7/25/31 (144A) 15,655,997
5,580,000(b) Connecticut Avenue Securities Trust, Series 2019-R02,
Class 1M2, 4.704% (1 Month USD LIBOR + 230 bps),
8/25/31 (144A) 5,628,062
4,480,000(b) Connecticut Avenue Securities Trust, Series 2019-R03,
Class 1M2, 4.554% (1 Month USD LIBOR + 215 bps),
9/25/31 (144A) 4,504,687
8,375,000(b) Credit Suisse Mortgage Capital Certificates, Series
2019-ICE4, Class E, 4.544% (1 Month USD LIBOR +
215 bps), 5/15/36 (144A) 8,403,842
7,120,000(c) CSAIL Commercial Mortgage Trust, Series 2016-C5,
Class C, 4.687%, 11/15/48 7,542,773
2,090,000 CSAIL Commercial Mortgage Trust, Series 2016-C6,
Class A5, 3.09%, 1/15/49 2,142,297
8,007,391(c) CSMC Trust, Series 2013-6, Class 2A3, 3.5%,
8/25/43 (144A) 8,081,828
4,052,007(c) CSMC Trust, Series 2013-IVR3, Class A1, 2.5%,
5/25/43 (144A) 3,977,052
3,469,606(c) CSMC Trust, Series 2013-IVR3, Class B2, 3.451%,
5/25/43 (144A) 3,532,584
2,604,685(c) CSMC Trust, Series 2013-IVR3, Class B4, 3.451%,
5/25/43 (144A) 2,563,316
2,781,368(c) CSMC Trust, Series 2013-IVR5, Class B4, 3.651%,
10/25/43 (144A) 2,817,486
7,763,787(c) CSMC Trust, Series 2013-TH1, Class A1, 2.13%,
2/25/43 (144A) 7,652,967
The accompanying notes are an integral part of these financial statements.
28 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
20,960,812(c) CSMC Trust, Series 2019-RPL1, Class A1A, 3.65%,
7/25/58 (144A) $ 21,589,125
1,403,887(c) Deephaven Residential Mortgage Trust, Series
2017-3A, Class A1, 2.577%, 10/25/47 (144A) 1,400,445
3,352,347(c) Deephaven Residential Mortgage Trust, Series
2018-1A, Class A1, 2.976%, 12/25/57 (144A) 3,360,913
5,470,000(b) Eagle Re, Ltd., Series 2018-1, Class M1, 4.104%
(1 Month USD LIBOR + 170 bps), 11/25/28 (144A) 5,469,995
11,100,000(b) Eagle Re, Ltd., Series 2019-1, Class M1B, 4.204%
(1 Month USD LIBOR + 180 bps), 4/25/29 (144A) 11,108,777
4,467,871(c) EverBank Mortgage Loan Trust, Series 2013-2, Class A,
3.0%, 6/25/43 (144A) 4,472,866
9,907,334(b) Fannie Mae Connecticut Avenue Securities, Series
2016-C05, Class 2M2, 6.854% (1 Month USD LIBOR +
445 bps), 1/25/29 10,550,022
2,159,995(b) Fannie Mae Connecticut Avenue Securities, Series
2018-C01, Class 1M1, 3.004% (1 Month USD LIBOR +
60 bps), 7/25/30 2,158,819
13,220,000(b) Fannie Mae Connecticut Avenue Securities, Series
2018-C03, Class 1M2, 4.554% (1 Month USD LIBOR +
215 bps), 10/25/30 13,308,481
855,037(b) Fannie Mae Connecticut Avenue Securities, Series
2018-C04, Class 2M1, 3.154% (1 Month USD LIBOR +
75 bps), 12/25/30 855,469
6,842,238(b) Fannie Mae Connecticut Avenue Securities, Series
2018-C05, Class 1M1, 3.124% (1 Month USD LIBOR +
72 bps), 1/25/31 6,844,628
3,900,000(b) Fannie Mae Connecticut Avenue Securities, Series
2018-C05, Class 1M2, 4.754% (1 Month USD LIBOR +
235 bps), 1/25/31 3,934,650
5,750,000(b) Fannie Mae Connecticut Avenue Securities, Series
2019-R04, Class 2M2, 4.504% (1 Month USD LIBOR +
210 bps), 6/25/39 (144A) 5,765,100
431,601(c) Fannie Mae Grantor Trust, Series 2004-T2, Class 2A,
4.615%, 7/25/43 455,104
14,565(b) Federal Home Loan Mortgage Corp. REMICS, Series
3780, Class FE, 2.794% (1 Month USD LIBOR +
40 bps), 12/15/20 14,594
12,690,933(b)(e) Federal Home Loan Mortgage Corp. REMICS, Series
4091, Class SH, 4.156% (1 Month USD LIBOR +
655 bps), 8/15/42 2,790,772
1,262,465 Federal Home Loan Mortgage Corp. Whole Loan
Securities Trust, Series 2017-SC02, Class 2A1,
3.5%, 5/25/47 1,276,535
236,905 Federal National Mortgage Association REMICS, Series
2009-36, Class HX, 4.5%, 6/25/29 245,541
890,267 Federal National Mortgage Association REMICS, Series
2013-128, Class DV, 3.0%, 6/25/23 900,095
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 29
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
2,942,834 Finance of America Structured Securities Trust, Series
2018-A, Class JR2, 2.0%, 12/26/68 $ 3,066,985
13,500,000 Finance of America Structured Securities Trust, Series
2019-JR2, 0.0%, 6/25/26 13,755,234
2,197,000(c) FirstKey Mortgage Trust, Series 2015-1, Class B4,
3.924%, 3/25/45 (144A) 2,150,314
5,404,759(c) Flagstar Mortgage Trust, Series 2018-2, Class A14,
3.5%, 4/25/48 (144A) 5,412,640
4,646,079(c) Flagstar Mortgage Trust, Series 2018-3INV, Class B1,
4.516%, 5/25/48 (144A) 5,103,401
4,812,045(c) Flagstar Mortgage Trust, Series 2018-3INV, Class B3,
4.516%, 5/25/48 (144A) 5,050,335
5,425,396(c) Flagstar Mortgage Trust, Series 2018-5, Class A7, 4.0%,
9/25/48 (144A) 5,495,970
4,230,000(b) Freddie Mac Stacr Trust, Series 2018-HQA2, Class B1,
6.654% (1 Month USD LIBOR + 425 bps),
10/25/48 (144A) 4,366,014
9,880,000(b) Freddie Mac Stacr Trust, Series 2018-HQA2, Class M2,
4.704% (1 Month USD LIBOR + 230 bps),
10/25/48 (144A) 9,923,071
11,470,000(b) Freddie Mac Stacr Trust, Series 2019-DNA2, Class M2,
4.854% (1 Month USD LIBOR + 245 bps),
3/25/49 (144A) 11,630,382
4,350,000(b) Freddie Mac Stacr Trust, Series 2019-HQA1, Class B2,
14.654% (1 Month USD LIBOR + 1,225 bps),
2/25/49 (144A) 5,054,505
3,926,000(b) Freddie Mac Stacr Trust, Series 2019-HQA1, Class M2,
4.754% (1 Month USD LIBOR + 235 bps),
2/25/49 (144A) 3,961,970
3,165,000(b) Freddie Mac Stacr Trust, Series 2019-HQA2, Class B2,
13.654% (1 Month USD LIBOR + 1,125 bps),
4/25/49 (144A) 3,517,044
3,530,000(b) Freddie Mac Stacr Trust, Series 2019-HQA2, Class M2,
4.454% (1 Month USD LIBOR + 205 bps),
4/25/49 (144A) 3,546,451
2,107,424(b) Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2016-DNA4, Class M2, 3.704% (1 Month USD
LIBOR + 130 bps), 3/25/29 2,113,134
11,465,925(b) Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2017-DNA2, Class M2, 5.854% (1 Month USD
LIBOR + 345 bps), 10/25/29 12,260,113
8,940,000(b) Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2017-DNA3, Class M2, 4.904% (1 Month USD
LIBOR + 250 bps), 3/25/30 9,140,532
3,306,928(b) Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2018-HQA1, Class M1, 3.104% (1 Month USD
LIBOR + 70 bps), 9/25/30 3,308,238
The accompanying notes are an integral part of these financial statements.
30 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
3,030,406(c) Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2018-SPI3, Class M1, 4.165%,
8/25/48 (144A) $ 3,062,216
890,000(c) FREMF Mortgage Trust, Series 2010-K9, Class B,
5.375%, 9/25/45 (144A) 913,222
902,511(b) FREMF Mortgage Trust, Series 2014-KF05, Class B,
6.431% (1 Month USD LIBOR + 400 bps),
9/25/22 (144A) 921,325
2,653,276(b) FREMF Mortgage Trust, Series 2014-KS02, Class B,
7.431% (1 Month USD LIBOR + 500 bps),
8/25/23 (144A) 2,694,571
3,700,000(c) FREMF Mortgage Trust, Series 2015-K51, Class B,
4.088%, 10/25/48 (144A) 3,866,271
2,623,000(c) FREMF Mortgage Trust, Series 2017-K66, Class B,
4.173%, 7/25/27 (144A) 2,747,869
4,900,000(c) FREMF Mortgage Trust, Series 2019-KJ24, Class B,
7.6%, 10/25/27 (144A) 4,635,909
5,967,087(c) FRESB Mortgage Trust, Series 2018-SB52, Class A7F,
3.39%, 6/25/25 6,263,840
7,465,000(c) FWDSecuritization Trust, Series 2019-INV1, Class A1,
2.81%, 7/25/49 (144A) 7,464,414
2,150,000(c) FWDSecuritization Trust, Series 2019-INV1, Class M1,
3.48%, 7/25/49 (144A) 2,149,371
1,083,622 Government National Mortgage Association, Series
2005-61, Class UZ, 5.25%, 8/16/35 1,138,913
532,800 Government National Mortgage Association, Series
2012-130, Class PA, 3.0%, 4/20/41 537,563
634,073 Government National Mortgage Association, Series
2013-169, Class TE, 3.25%, 4/16/27 650,454
38,522,816(c)(e) Government National Mortgage Association, Series
2017-21, Class IO, 0.795%, 10/16/58 2,728,802
3,660,935 Government National Mortgage Association, Series
2018-20, Class A, 2.5%, 9/16/49 3,624,246
6,500,000 GS Mortgage Securities Trust, Series 2015-GC28,
Class A5, 3.396%, 2/10/48 6,803,477
3,815,335(c) GS Mortgage-Backed Securities Corp. Trust, Series
2019-PJ1, Class A1, 4.0%, 8/25/49 (144A) 3,894,771
2,867,198(c) GS Mortgage-Backed Securities Corp. Trust, Series
2019-PJ1, Class B1, 4.329%, 8/25/49 (144A) 2,956,798
3,547,715(c) GS Mortgage-Backed Securities Trust, Series
2014-EB1A, Class B3, 3.118%, 7/25/44 (144A) 3,554,639
2,364,011 GS Mortgage-Backed Securities Trust, Series
2018-RPL1, Class A1A, 3.75%, 10/25/57 (144A) 2,442,222
750,000(b) Home Partners of America Trust, Series 2017-1,
Class B, 3.744% (1 Month USD LIBOR + 135 bps),
7/17/34 (144A) 750,761
2,270,000(b) Home Re, Ltd., Series 2018-1, Class M1, 3.83%
(1 Month USD LIBOR + 160 bps), 10/25/28 (144A) 2,266,183
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 31
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
7,040,000(b) Home Re, Ltd., Series 2019-1, Class M1, 4.054%
(1 Month USD LIBOR + 165 bps), 5/25/29 (144A) $ 7,039,993
8,951,000 ILPT Trust, Series 2019-SURF, Class A, 4.145%,
2/11/41 (144A) 9,938,086
767,435 JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2011-C5, Class A3, 4.171%, 8/15/46 791,105
1,900,000(c) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2012-C8, Class B, 3.977%,
10/15/45 (144A) 1,960,848
4,555,234 JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2012-LC9, Class A5, 2.84%, 12/15/47 4,632,291
5,925,000(c) JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2018-BCON, Class C, 3.881%,
1/5/31 (144A) 6,121,880
6,700,000 JP Morgan Chase Commercial Mortgage Securities
Trust, Series 2018-WPT, Class AFX, 4.248%,
7/5/33 (144A) 7,162,639
6,540,396(c) JP Morgan Mortgage Trust, Series 2013-1, Class 2A2,
2.5%, 3/25/43 (144A) 6,520,467
2,329,684(c) JP Morgan Mortgage Trust, Series 2013-1, Class 2A3,
3.0%, 3/25/43 (144A) 2,348,559
70,349(c) JP Morgan Mortgage Trust, Series 2016-3, Class AM,
3.377%, 10/25/46 (144A) 71,491
6,991,549(c) JP Morgan Mortgage Trust, Series 2016-4, Class A13,
3.5%, 10/25/46 (144A) 7,058,273
10,555,000(c) JP Morgan Mortgage Trust, Series 2017-1, Class A6,
3.5%, 1/25/47 (144A) 10,728,661
2,376,919(c) JP Morgan Mortgage Trust, Series 2017-2, Class A4,
3.0%, 5/25/47 (144A) 2,374,495
4,639,907(c) JP Morgan Mortgage Trust, Series 2017-3, Class 1A13,
3.5%, 8/25/47 (144A) 4,689,524
5,625,192(c) JP Morgan Mortgage Trust, Series 2017-4, Class A6,
3.0%, 11/25/48 (144A) 5,664,568
4,161,277(c) JP Morgan Mortgage Trust, Series 2017-5, Class A1A,
3.0%, 10/26/48 (144A) 4,188,975
1,670,928(c) JP Morgan Mortgage Trust, Series 2017-5, Class A2,
3.182%, 10/26/48 (144A) 1,666,926
4,401,269(c) JP Morgan Mortgage Trust, Series 2017-5, Class B1,
3.182%, 10/26/48 (144A) 4,368,301
9,985,043(c) JP Morgan Mortgage Trust, Series 2017-6, Class B1,
3.84%, 12/25/48 (144A) 10,314,084
2,912,449(c) JP Morgan Mortgage Trust, Series 2018-1, Class B1,
3.765%, 6/25/48 (144A) 3,041,450
3,797,804(c) JP Morgan Mortgage Trust, Series 2018-3, Class B1,
3.778%, 9/25/48 (144A) 3,893,896
13,815,000(c) JP Morgan Mortgage Trust, Series 2018-4, Class A17,
3.5%, 10/25/48 (144A) 14,056,609
The accompanying notes are an integral part of these financial statements.
32 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
3,102,524(c) JP Morgan Mortgage Trust, Series 2018-9, Class A5,
4.0%, 2/25/49 (144A) $ 3,156,533
12,482,956(c) JP Morgan Mortgage Trust, Series 2019-1, Class A4,
4.0%, 5/25/49 (144A) 12,700,259
7,852,268(c) JP Morgan Mortgage Trust, Series 2019-2, Class A6,
4.0%, 8/25/49 (144A) 8,041,651
13,200,000(c) JP Morgan Mortgage Trust, Series 2019-5, Class A3,
4.0%, 11/25/49 (144A) 13,505,639
4,500,000(c) JP Morgan Mortgage Trust, Series 2019-5, Class A15,
4.0%, 11/25/49 (144A) 4,578,867
8,073,098(c) JP Morgan Mortgage Trust, Series 2019-LTV1, Class A3,
4.0%, 6/25/49 (144A) 8,230,685
8,687,754(c) JP Morgan Mortgage Trust, Series 2019-LTV1, Class A15,
4.0%, 6/25/49 (144A) 8,909,675
4,191,936(c) JP Morgan Trust, Series 2015-3, Class B3, 3.671%,
5/25/45 (144A) 4,249,665
7,850,000 JPMBB Commercial Mortgage Securities Trust, Series
2015-C32, Class A4, 3.329%, 11/15/48 8,190,166
3,450,000(c) JPMDB Commercial Mortgage Securities Trust, Series
2016-C2, Class B, 3.99%, 6/15/49 3,644,803
6,650,000 JPMDB Commercial Mortgage Securities Trust, Series
2016-C4, Class A3, 3.141%, 12/15/49 6,877,243
2,000,000(c) JPMDB Commercial Mortgage Securities Trust, Series
2016-C4, Class D, 3.22%, 12/15/49 (144A) 1,786,344
7,640,000 JPMDB Commercial Mortgage Securities Trust, Series
2018-C8, Class A4, 4.211%, 6/15/51 8,489,031
45,714,000(c)(e) JPMDB Commercial Mortgage Securities Trust, Series
2018-C8, Class XB, 0.193%, 6/15/51 531,910
1,782,606 La Hipotecaria El Salvadorian Mortgage Trust, Series
2016-1A, Class A, 3.358%, 1/15/46 (144A) 1,838,312
840,450(b) La Hipotecaria Panamanian Mortgage Trust, Series
2010-1GA, Class A, 2.75% (Panamanian Mortgage
Reference Rate + 300 bps), 9/8/39 (144A) 842,552
2,678,781(b) La Hipotecaria Panamanian Mortgage Trust, Series
2014-1A, Class A1, 3.508% (Panamanian Mortgage
Reference Rate + 224 bps), 11/24/42 (144A) 2,780,492
4,789,746(c) Metlife Securitization Trust, Series 2019-1A, Class A1A,
3.75%, 4/25/58 (144A) 4,975,689
10,000,000(c) Mill City Mortgage Loan Trust, Series 2019-1, Class A1,
3.25%, 10/25/69 (144A) 10,191,660
4,900,241 Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2012-C6, Class A4, 2.858%, 11/15/45 4,974,746
3,563,500(c) Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2015-C21, Class C, 4.297%, 3/15/48 3,659,732
6,900,000 Morgan Stanley Capital I Trust, Series 2018-MP, Class A,
4.418%, 7/11/40 (144A) 7,723,668
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 33
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
4,857,729(b) New Residential Mortgage Loan Trust, Series 2018-4A,
Class A1S, 3.154% (1 Month USD LIBOR + 75 bps),
1/25/48 (144A) $ 4,854,353
3,634,232(c) New Residential Mortgage Loan Trust, Series 2018-5A,
Class A1, 4.75%, 12/25/57 (144A) 3,815,005
114,932(c) New Residential Mortgage Loan Trust, Series
2018-RPL1, Class A1, 3.5%, 12/25/57 (144A) 117,498
14,890,831(c) New Residential Mortgage Loan Trust, Series 2019-2A,
Class A1, 4.25%, 12/25/57 (144A) 15,471,911
5,538,478(c) NRP Mortgage Trust, Series 2013-1, Class B1, 3.315%,
7/25/43 (144A) 5,600,609
4,259,980(c) NRP Mortgage Trust, Series 2013-1, Class B2, 3.315%,
7/25/43 (144A) 4,284,068
2,457,000(b) Oaktown Re II, Ltd., Series 2018-1A, Class M2, 5.254%
(1 Month USD LIBOR + 285 bps), 7/25/28 (144A) 2,478,306
2,553,836(c) OBX Trust, Series 2018-EXP1, Class 1A6, 4.5%,
4/25/48 (144A) 2,602,157
5,148,800(c) OBX Trust, Series 2019-EXP1, Class 1A3, 4.0%,
1/25/59 (144A) 5,233,858
10,200,000(c) OBX Trust, Series 2019-INV1, Class A10, 4.0%,
11/25/48 (144A) 10,562,699
13,250,000(c) OBX Trust, Series 2019-INV2, Class A5, 4.0%,
5/27/49 (144A) 13,652,018
253,214(b) Pepper Residential Securities Trust No. 18, Series 18A,
Class A1UA, 3.363% (1 Month USD LIBOR + 95 bps),
3/12/47 (144A) 253,113
11,762,823(c) PMT Loan Trust, Series 2013-J1, Class A1, 3.5%,
9/25/43 (144A) 11,883,198
8,498,040(c) PMT Loan Trust, Series 2013-J1, Class A11, 3.5%,
9/25/43 (144A) 8,620,162
4,800,000 Progress Residential Trust, Series 2017-SFR1, Class B,
3.017%, 8/17/34 (144A) 4,822,887
700,000 Progress Residential Trust, Series 2017-SFR1, Class D,
3.565%, 8/17/34 (144A) 709,444
5,135,000 Progress Residential Trust, Series 2017-SFR2, Class B,
3.196%, 12/17/34 (144A) 5,174,586
4,890,411(b) Radnor Re, Ltd., Series 2018-1, Class M1, 3.804%
(1 Month USD LIBOR + 140 bps), 3/25/28 (144A) 4,902,838
11,160,000(b) Radnor Re, Ltd., Series 2019-1, Class M1B, 4.354%
(1 Month USD LIBOR + 195 bps), 2/25/29 (144A) 11,238,024
3,437,000(b) Radnor Re, Ltd., Series 2019-1, Class M2, 5.604%
(1 Month USD LIBOR + 320 bps), 2/25/29 (144A) 3,471,613
2,924 RALI Trust, Series 2003-QS14, Class A1, 5.0%, 7/25/18 2,854
327,554(b) RESIMAC Premier, Series 2017-1A, Class A1A, 3.362%
(1 Month USD LIBOR + 95 bps), 9/11/48 (144A) 327,100
6,716,728 Seasoned Loans Structured Transaction, Series 2019-1,
Class A1, 3.5%, 5/25/29 6,986,004
The accompanying notes are an integral part of these financial statements.
34 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
2,475,382(c) Sequoia Mortgage Trust, Series 2012-6, Class A2,
1.808%, 12/25/42 $ 2,445,025
2,697,542(c) Sequoia Mortgage Trust, Series 2012-6, Class B3,
3.73%, 12/25/42 2,731,442
3,535,637(c) Sequoia Mortgage Trust, Series 2013-2, Class A,
1.874%, 2/25/43 3,291,407
6,906,450(c) Sequoia Mortgage Trust, Series 2013-4, Class A1,
2.325%, 4/25/43 6,659,902
7,092,762(c) Sequoia Mortgage Trust, Series 2013-5, Class A1,
2.5%, 5/25/43 (144A) 6,856,408
14,566,139(c) Sequoia Mortgage Trust, Series 2013-5, Class A2,
3.0%, 5/25/43 (144A) 14,527,917
7,175,802(c) Sequoia Mortgage Trust, Series 2013-6, Class A1,
2.5%, 5/25/43 7,047,148
10,850,720(c) Sequoia Mortgage Trust, Series 2013-6, Class A2,
3.0%, 5/25/43 10,854,935
8,069,271(c) Sequoia Mortgage Trust, Series 2013-7, Class A1,
2.5%, 6/25/43 7,714,229
9,948,156(c) Sequoia Mortgage Trust, Series 2013-7, Class A2,
3.0%, 6/25/43 9,926,891
9,974,092(c) Sequoia Mortgage Trust, Series 2013-8, Class A1,
3.0%, 6/25/43 9,990,505
16,171,048(c) Sequoia Mortgage Trust, Series 2013-10, Class A1,
3.5%, 8/25/43 (144A) 16,405,106
2,949,402(c) Sequoia Mortgage Trust, Series 2017-1, Class B2,
3.635%, 2/25/47 (144A) 2,971,590
2,176,718(c) Sequoia Mortgage Trust, Series 2017-CH2, Class A1,
4.0%, 12/25/47 (144A) 2,255,952
10,283,602(c) Sequoia Mortgage Trust, Series 2018-6, Class A22,
4.0%, 7/25/48 (144A) 10,462,357
8,017,714(c) Sequoia Mortgage Trust, Series 2018-8, Class A4,
4.0%, 11/25/48 (144A) 8,162,097
4,031,617(c) Sequoia Mortgage Trust, Series 2018-CH1, Class A1,
4.0%, 2/25/48 (144A) 4,170,077
4,344,853(c) Sequoia Mortgage Trust, Series 2018-CH3, Class A1,
4.5%, 8/25/48 (144A) 4,508,323
3,190,439(c) Sequoia Mortgage Trust, Series 2018-CH4, Class A10,
4.5%, 10/25/48 (144A) 3,277,006
4,621,462(b) STACR Trust, Series 2018-DNA3, Class M1, 3.154%
(1 Month USD LIBOR + 75 bps), 9/25/48 (144A) 4,625,493
10,870,000(b) STACR Trust, Series 2018-DNA3, Class M2, 4.504%
(1 Month USD LIBOR + 210 bps), 9/25/48 (144A) 10,870,039
11,220,000(b) STACR Trust, Series 2018-HRP2, Class B1, 6.604%
(1 Month USD LIBOR + 420 bps), 2/25/47 (144A) 11,536,135
6,450,000(b) STACR Trust, Series 2018-HRP2, Class M3, 4.804%
(1 Month USD LIBOR + 240 bps), 2/25/47 (144A) 6,582,976
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 35
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE OBLIGATIONS --
(continued)
2,950,000(b) Starwood Waypoint Homes Trust, Series 2017-1,
Class B, 3.564% (1 Month USD LIBOR + 117 bps),
1/17/35 (144A) $ 2,946,980
4,638,391 Toro Mortgage Funding Trust, Series 2017-RJ1,
4.0%, 4/25/74 4,639,841
7,540,000(c) Towd Point Mortgage Trust, Series 2015-6, Class M1,
3.75%, 4/25/55 (144A) 7,865,410
5,485,000(c) Towd Point Mortgage Trust, Series 2017-1, Class M1,
3.75%, 10/25/56 (144A) 5,670,174
12,015,000(c) Towd Point Mortgage Trust, Series 2017-2, Class A2,
3.25%, 4/25/57 (144A) 12,125,294
10,055,000(c) Towd Point Mortgage Trust, Series 2017-3, Class A2,
3.0%, 7/25/57 (144A) 9,954,334
5,315,616(c) Towd Point Mortgage Trust, Series 2017-5, Class XA,
3.5%, 2/25/57 (144A) 5,290,815
192,845 Vendee Mortgage Trust, Series 2008-1, Class GD,
5.25%, 1/15/32 199,363
326,575 Vendee Mortgage Trust, Series 2010-1, Class DA,
4.25%, 2/15/35 333,434
3,810,000 Wells Fargo Commercial Mortgage Trust, Series
2015-NXS3, Class A4, 3.617%, 9/15/57 4,039,180
8,200,000 Wells Fargo Commercial Mortgage Trust, Series
2016-C32, Class A3, 3.294%, 1/15/59 8,542,310
10,000,000 Wells Fargo Commercial Mortgage Trust, Series
2016-LC24, Class A3, 2.684%, 10/15/49 10,028,208
4,200,000(c) WFRBS Commercial Mortgage Trust, Series 2013-C12,
Class D, 4.556%, 3/15/48 (144A) 4,036,582
6,200,000 WFRBS Commercial Mortgage Trust, Series 2013-C16,
Class A4, 4.136%, 9/15/46 6,608,892
2,857,677(c) WinWater Mortgage Loan Trust, Series 2014-2,
Class B4, 4.101%, 9/20/44 (144A) 2,944,002
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $1,238,811,958) $1,260,022,981
-----------------------------------------------------------------------------------------------------------------------------------
CORPORATE BONDS -- 27.4% of Net Assets
Aerospace & Defense -- 0.9%
9,785,000 Boeing Co., 2.7%, 5/1/22 $ 9,925,825
14,425,000 Boeing Co., 3.9%, 5/1/49 15,076,428
13,470,000 Rockwell Collins, Inc., 3.2%, 3/15/24 13,868,943
7,910,000 United Technologies Corp., 4.125%, 11/16/28 8,689,938
--------------
Total Aerospace & Defense $ 47,561,134
-----------------------------------------------------------------------------------------------------------------------------------
Agriculture -- 0.7%
7,795,000 Altria Group, Inc., 5.375%, 1/31/44 $ 8,359,920
12,540,000 Philip Morris International, Inc., 3.25%, 11/10/24 12,986,532
14,708,000 Reynolds American, Inc., 4.45%, 6/12/25 15,596,364
--------------
Total Agriculture $ 36,942,816
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
36 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Airlines -- 0.1%
6,743,822 Air Canada 2017-1 Class AA Pass Through Trust,
3.3%, 1/15/30 (144A) $ 6,795,925
--------------
Total Airlines $ 6,795,925
-----------------------------------------------------------------------------------------------------------------------------------
Auto Manufacturers -- 0.9%
6,885,000 Ford Motor Credit Co. LLC, 5.584%, 3/18/24 $ 7,390,206
2,300,000 General Motors Financial Co., Inc., 3.7%, 11/24/20 2,329,721
10,710,000 General Motors Financial Co., Inc., 4.0%, 1/15/25 10,870,972
12,300,000 Hyundai Capital Services, Inc., 3.0%, 8/29/22 (144A) 12,328,389
3,590,000 Nissan Motor Acceptance Corp., 2.15%,
7/13/20 (144A) 3,575,145
7,495,000 Nissan Motor Acceptance Corp., 3.15%,
3/15/21 (144A) 7,557,314
7,040,000 Volkswagen Group of America Finance LLC, 4.0%,
11/12/21 (144A) 7,266,235
--------------
Total Auto Manufacturers $ 51,317,982
-----------------------------------------------------------------------------------------------------------------------------------
Banks -- 4.5%
16,040,000(c) AIB Group Plc, 4.263% (3 Month USD LIBOR +
187 bps), 4/10/25 (144A) $ 16,516,515
1,150,000 Bank of America Corp., 4.2%, 8/26/24 1,222,451
10,345,000(b) Bank of New York Mellon Corp., 3.633% (3 Month
USD LIBOR + 105 bps), 10/30/23 10,529,706
6,525,000(a)(c) Barclays Plc, 7.75% (5 Year USD Swap Rate + 484 bps) 6,688,125
5,205,000(a)(c) Barclays Plc, 8.0% (5 Year CMT Index + 567 bps) 5,458,744
13,875,000(a)(c) BNP Paribas SA, 6.625% (5 Year USD Swap Rate +
415 bps) (144A) 14,447,344
6,900,000 BPCE SA, 2.25%, 1/27/20 6,893,615
3,860,000 BPCE SA, 4.875%, 4/1/26 (144A) 4,152,189
21,955,000(b) Canadian Imperial Bank of Commerce, 2.891%
(3 Month USD LIBOR + 32 bps), 2/2/21 21,988,147
3,435,000 Cooperatieve Rabobank UA, 3.875%, 2/8/22 3,574,884
7,175,000 Cooperatieve Rabobank UA, 3.95%, 11/9/22 7,442,711
11,725,000(a)(c) Credit Suisse Group AG, 7.125% (5 Year USD Swap
Rate + 511 bps) 12,443,156
7,300,000 Credit Suisse Group Funding Guernsey, Ltd.,
3.8%, 9/15/22 7,567,922
5,337,000 Danske Bank AS, 5.375%, 1/12/24 (144A) 5,768,592
4,700,000(a)(c) Danske Bank AS, 6.125% (7 Year USD Swap
Rate + 390 bps) 4,556,086
3,888,000(c) DBS Group Holdings, Ltd., 4.52% (5 Year USD 1100
Run ICE Swap Rate + 159 bps), 12/11/28 (144A) 4,120,134
7,891,000(c) Goldman Sachs Group, Inc., 3.272% (3 Month USD
LIBOR + 120 bps), 9/29/25 8,075,615
6,335,000(c) Goldman Sachs Group, Inc., 4.223% (3 Month USD
LIBOR + 130 bps), 5/1/29 6,794,340
1,305,000 HSBC Bank Plc, 7.65%, 5/1/25 1,561,360
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 37
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Banks -- (continued)
2,400,000(b) HSBC Holdings Plc, 3.52% (3 Month USD LIBOR +
100 bps), 5/18/24 $ 2,406,392
5,550,000(a)(c) Intesa Sanpaolo S.p.A., 7.7% (5 Year USD Swap
Rate + 546 bps) (144A) 5,452,875
7,378,000 KeyCorp, 5.1%, 3/24/21 7,713,622
8,675,000 Lloyds Banking Group Plc, 4.65%, 3/24/26 9,057,459
5,450,000 Morgan Stanley, 4.1%, 5/22/23 5,737,020
4,500,000 Nordea Bank Abp, 4.25%, 9/21/22 (144A) 4,688,461
8,524,000 Nordea Bank Abp, 4.875%, 5/13/21 (144A) 8,845,834
10,505,000(a)(c) Royal Bank of Scotland Group Plc, 8.625% (5 Year
USD Swap Rate + 760 bps) 11,321,764
9,051,000(a)(c) Societe Generale SA, 7.375% (5 Year USD Swap
Rate + 624 bps) (144A) 9,515,316
12,575,000 SunTrust Bank, 2.45%, 8/1/22 12,612,742
2,250,000(c) Turkiye Garanti Bankasi AS, 6.125% (5 Year USD
Swap Rate + 422 bps), 5/24/27 (144A) 1,900,710
4,900,000 UBS AG, 7.625%, 8/17/22 5,496,379
11,650,000(a)(c) UBS Group Funding Switzerland AG, 7.0% (5 Year
USD Swap Rate + 434 bps) (144A) 12,376,028
4,497,000(a)(c) UBS Group Funding Switzerland AG, 7.125% (5 Year
USD Swap Rate + 588 bps) 4,721,850
--------------
Total Banks $ 251,648,088
-----------------------------------------------------------------------------------------------------------------------------------
Beverages -- 0.5%
17,710,000 Anheuser-Busch InBev Worldwide, Inc.,
5.55%, 1/23/49 $ 21,703,744
7,630,000 Bacardi, Ltd., 5.3%, 5/15/48 (144A) 8,030,467
--------------
Total Beverages $ 29,734,211
-----------------------------------------------------------------------------------------------------------------------------------
Biotechnology -- 0.4%
3,990,000 Baxalta, Inc., 3.6%, 6/23/22 $ 4,094,417
3,550,000 Biogen, Inc., 3.625%, 9/15/22 3,664,243
11,735,000 Biogen, Inc., 5.2%, 9/15/45 13,180,412
--------------
Total Biotechnology $ 20,939,072
-----------------------------------------------------------------------------------------------------------------------------------
Building Materials -- 0.5%
1,882,000 American Woodmark Corp., 4.875%, 3/15/26 (144A) $ 1,858,475
11,000,000 CRH America, Inc., 3.875%, 5/18/25 (144A) 11,505,673
7,680,000 Fortune Brands Home & Security, Inc., 3.0%, 6/15/20 7,705,324
3,250,000 Fortune Brands Home & Security, Inc., 4.0%, 9/21/23 3,420,869
4,385,000 Standard Industries, Inc., 5.5%, 2/15/23 (144A) 4,505,587
--------------
Total Building Materials $ 28,995,928
-----------------------------------------------------------------------------------------------------------------------------------
Chemicals -- 0.4%
1,567,000 CF Industries, Inc., 4.95%, 6/1/43 $ 1,402,465
6,830,000 CF Industries, Inc., 5.375%, 3/15/44 6,405,174
6,365,000 Chemours Co., 7.0%, 5/15/25 6,651,425
The accompanying notes are an integral part of these financial statements.
38 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Chemicals -- (continued)
4,479,000 Dow Chemical Co., 4.8%, 5/15/49 (144A) $ 4,829,659
2,803,000 NOVA Chemicals Corp., 4.875%, 6/1/24 (144A) 2,901,105
--------------
Total Chemicals $ 22,189,828
-----------------------------------------------------------------------------------------------------------------------------------
Commercial Services -- 0.3%
3,950,000 ERAC USA Finance LLC, 3.3%, 12/1/26 (144A) $ 4,002,874
1,300,000 ERAC USA Finance LLC, 3.8%, 11/1/25 (144A) 1,376,535
2,400,000 Moody's Corp., 3.25%, 6/7/21 2,433,943
2,600,000 President & Fellows of Harvard College, 2.3%, 10/1/23 2,625,034
5,942,000 Verisk Analytics, Inc., 5.5%, 6/15/45 6,970,913
--------------
Total Commercial Services $ 17,409,299
-----------------------------------------------------------------------------------------------------------------------------------
Diversified Financial Services -- 1.0%
800,000(b) AIG Global Funding, 2.8% (3 Month USD LIBOR +
48 bps), 7/2/20 (144A) $ 802,628
3,075,000 Ally Financial, Inc., 3.875%, 5/21/24 3,148,031
2,980,000 Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,018,350
1,465,000 Capital One Bank USA NA, 8.8%, 7/15/19 1,468,194
4,885,000 Capital One Financial Corp., 3.3%, 10/30/24 5,010,806
9,675,000 Capital One Financial Corp., 3.75%, 4/24/24 10,152,942
5,200,000 Capital One Financial Corp., 4.25%, 4/30/25 5,572,444
4,031,000 GE Capital International Funding Co. Unlimited Co.,
2.342%, 11/15/20 4,011,863
2,350,000 GTP Acquisition Partners I LLC, 2.35%, 6/15/20 (144A) 2,342,282
6,200,000 TD Ameritrade Holding Corp., 3.3%, 4/1/27 6,396,940
11,625,000 USAA Capital Corp., 2.45%, 8/1/20 (144A) 11,659,202
4,550,000 Visa, Inc., 2.2%, 12/14/20 4,557,140
--------------
Total Diversified Financial Services $ 58,140,822
-----------------------------------------------------------------------------------------------------------------------------------
Electric -- 1.9%
2,159,000(c) AES Gener SA, 7.125% (5 Year USD Swap Rate +
464 bps), 3/26/79 (144A) $ 2,303,675
8,385,000 Consolidated Edison Co. of New York, Inc.,
4.625%, 12/1/54 9,405,085
2,700,000 Dominion Energy, Inc., 2.75%, 1/15/22 2,720,062
4,027,000(d) Dominion Energy, Inc., 3.071%, 8/15/24 4,059,492
925,000 Edison International, 2.4%, 9/15/22 881,066
2,150,000(a)(c) Electricite de France SA, 5.25% (10 Year USD Swap
Rate + 371 bps) (144A) 2,193,000
4,170,000(c) Enel S.p.A., 8.75% (5 Year USD Swap Rate + 588 bps),
9/24/73 (144A) 4,805,925
6,365,000 Exelon Corp., 2.85%, 6/15/20 6,385,161
4,655,000 Iberdrola International BV, 6.75%, 7/15/36 6,138,522
2,725,000 Indiana Michigan Power Co., 4.55%, 3/15/46 3,063,977
610,000 Israel Electric Corp., Ltd., 9.375%, 1/28/20 (144A) 633,168
460,957 Kiowa Power Partners LLC, 5.737%, 3/30/21 (144A) 468,876
10,270,000 NextEra Energy Capital Holdings, Inc., 3.55%, 5/1/27 10,721,538
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 39
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Electric -- (continued)
2,327,000 NRG Energy, Inc., 5.75%, 1/15/28 $ 2,495,707
195,567 OrCal Geothermal, Inc., 6.21%, 12/30/20 (144A) 196,304
11,910,000 PPL Capital Funding, Inc, 3.1%, 5/15/26 11,821,988
1,435,714 San Diego Gas & Electric Co., 1.914%, 2/1/22 1,405,605
9,720,000 Sempra Energy, 3.4%, 2/1/28 9,703,787
2,839,286 Southern California Edison Co., 1.845%, 2/1/22 2,789,430
8,605,000 Southern California Edison Co., 4.875%, 3/1/49 9,675,412
11,475,000 Southwestern Electric Power Co., 3.9%, 4/1/45 11,438,524
--------------
Total Electric $ 103,306,304
-----------------------------------------------------------------------------------------------------------------------------------
Electronics -- 0.6%
8,412,000 Amphenol Corp., 3.125%, 9/15/21 $ 8,535,269
3,065,000 Amphenol Corp., 3.2%, 4/1/24 3,140,957
7,391,000 Amphenol Corp., 4.35%, 6/1/29 7,998,904
5,780,000 Flex, Ltd., 4.75%, 6/15/25 5,992,198
9,510,000 Flex, Ltd., 4.875%, 6/15/29 9,690,334
--------------
Total Electronics $ 35,357,662
-----------------------------------------------------------------------------------------------------------------------------------
Energy-Alternate Sources -- 0.0%+
416,249 Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A) $ 466,785
--------------
Total Energy-Alternate Sources $ 466,785
-----------------------------------------------------------------------------------------------------------------------------------
Environmental Control -- 0.0%+
2,678,000 Republic Services, Inc., 2.9%, 7/1/26 $ 2,692,267
--------------
Total Environmental Control $ 2,692,267
-----------------------------------------------------------------------------------------------------------------------------------
Food -- 0.6%
12,410,000 Conagra Brands, Inc., 4.3%, 5/1/24 $ 13,164,931
4,119,000 Mondelez International Holdings Netherlands BV,
2.0%, 10/28/21 (144A) 4,081,116
2,500,000 Smithfield Foods, Inc., 2.65%, 10/3/21 (144A) 2,464,279
7,555,000 Smithfield Foods, Inc., 2.7%, 1/31/20 (144A) 7,539,300
3,430,000(b) Tyson Foods, Inc., 2.972% (3 Month USD LIBOR +
45 bps), 8/21/20 3,429,211
3,075,000(b) Tyson Foods, Inc., 3.07% (3 Month USD LIBOR +
55 bps), 6/2/20 3,078,085
--------------
Total Food $ 33,756,922
-----------------------------------------------------------------------------------------------------------------------------------
Forest Products & Paper -- 0.1%
1,275,000 International Paper Co., 4.8%, 6/15/44 $ 1,308,728
2,575,000 International Paper Co., 6.0%, 11/15/41 3,018,346
--------------
Total Forest Products & Paper $ 4,327,074
-----------------------------------------------------------------------------------------------------------------------------------
Gas -- 0.1%
3,060,000 Boston Gas Co., 3.15%, 8/1/27 (144A) $ 3,108,987
1,931,530 Nakilat, Inc., 6.267%, 12/31/33 (144A) 2,216,817
--------------
Total Gas $ 5,325,804
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
40 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Healthcare-Products -- 0.4%
4,155,000 Abbott Laboratories, 3.75%, 11/30/26 $ 4,492,371
3,522,000(b) Becton Dickinson & Co., 3.194% (3 Month USD
LIBOR + 88 bps), 12/29/20 3,522,521
11,200,000 Thermo Fisher Scientific, Inc., 3.0%, 4/15/23 11,484,985
--------------
Total Healthcare-Products $ 19,499,877
-----------------------------------------------------------------------------------------------------------------------------------
Healthcare-Services -- 0.3%
6,585,000 Anthem, Inc., 3.35%, 12/1/24 $ 6,812,269
4,506,000 Anthem, Inc., 3.65%, 12/1/27 4,684,139
1,140,000 Anthem, Inc., 4.101%, 3/1/28 1,219,547
3,630,000 Humana, Inc., 3.95%, 3/15/27 3,784,650
2,400,000 NYU Hospitals Center, 4.428%, 7/1/42 2,705,146
--------------
Total Healthcare-Services $ 19,205,751
-----------------------------------------------------------------------------------------------------------------------------------
Home Builders -- 0.1%
4,320,000 Meritage Homes Corp., 6.0%, 6/1/25 $ 4,644,000
--------------
Total Home Builders $ 4,644,000
-----------------------------------------------------------------------------------------------------------------------------------
Household Products & Wares -- 0.1%
8,203,000 Church & Dwight Co., Inc., 2.45%, 8/1/22 $ 8,219,870
--------------
Total Household Products & Wares $ 8,219,870
-----------------------------------------------------------------------------------------------------------------------------------
Insurance -- 1.8%
2,335,000 AXA SA, 8.6%, 12/15/30 $ 3,321,537
1,480,000 CNO Financial Group, Inc., 5.25%, 5/30/29 1,602,100
1,850,000 Delphi Financial Group, Inc., 7.875%, 1/31/20 1,902,847
2,960,000(c) Farmers Exchange Capital III, 5.454% (3 Month USD
LIBOR + 345 bps), 10/15/54 (144A) 3,196,800
9,610,000(c) Farmers Insurance Exchange, 4.747% (3 Month USD
LIBOR + 323 bps), 11/1/57 (144A) 9,239,150
5,045,000 Great-West Lifeco Finance 2018 LP, 4.581%,
5/17/48 (144A) 5,683,384
15,248,000 Liberty Mutual Insurance Co., 7.697%,
10/15/97 (144A) 22,036,849
13,250,000 MassMutual Global Funding II, 2.75%, 6/22/24 (144A) 13,504,658
6,200,000 MassMutual Global Funding II, 2.95%, 1/11/25 (144A) 6,335,293
7,265,000 New York Life Global Funding, 2.875%, 4/10/24 (144A) 7,427,030
7,300,000 New York Life Insurance Co., 4.45%, 5/15/69 (144A) 8,052,008
10,395,000 Protective Life Corp., 4.3%, 9/30/28 (144A) 10,949,423
4,250,000 Protective Life Corp., 7.375%, 10/15/19 4,306,690
1,090,000 Prudential Financial, Inc., 4.5%, 11/16/21 1,145,964
690,000 Teachers Insurance & Annuity Association of America,
6.85%, 12/16/39 (144A) 977,989
1,465,000 Torchmark Corp., 4.55%, 9/15/28 1,600,530
--------------
Total Insurance $ 101,282,252
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 41
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Internet -- 0.5%
7,170,000 Booking Holdings, Inc., 3.55%, 3/15/28 $ 7,473,147
1,925,000 Booking Holdings, Inc., 3.6%, 6/1/26 2,029,853
7,875,000 Booking Holdings, Inc., 3.65%, 3/15/25 8,323,196
4,125,000 Expedia Group, Inc., 3.8%, 2/15/28 4,198,794
5,900,000 Expedia Group, Inc., 4.5%, 8/15/24 6,276,894
950,000 Expedia Group, Inc., 5.0%, 2/15/26 1,034,774
--------------
Total Internet $ 29,336,658
-----------------------------------------------------------------------------------------------------------------------------------
Iron & Steel -- 0.1%
3,550,000 Commercial Metals Co., 4.875%, 5/15/23 $ 3,576,625
1,525,000 Commercial Metals Co., 5.75%, 4/15/26 1,522,331
--------------
Total Iron & Steel $ 5,098,956
-----------------------------------------------------------------------------------------------------------------------------------
Media -- 0.2%
7,745,000 Comcast Corp., 4.15%, 10/15/28 $ 8,536,155
3,450,000 Videotron, Ltd., 5.375%, 6/15/24 (144A) 3,691,500
--------------
Total Media $ 12,227,655
-----------------------------------------------------------------------------------------------------------------------------------
Mining -- 0.3%
1,325,000 Anglo American Capital Plc, 4.0%, 9/11/27 (144A) $ 1,330,114
1,993,000 Anglo American Capital Plc, 4.5%, 3/15/28 (144A) 2,066,749
2,750,000 Anglo American Capital Plc, 4.75%, 4/10/27 (144A) 2,912,789
6,600,000 Anglo American Capital Plc, 4.875%, 5/14/25 (144A) 7,111,800
3,605,000 Freeport-McMoRan, Inc., 5.45%, 3/15/43 3,298,575
--------------
Total Mining $ 16,720,027
-----------------------------------------------------------------------------------------------------------------------------------
Miscellaneous Manufacturers -- 0.1%
3,485,000 Amsted Industries, Inc., 5.375%, 9/15/24 (144A) $ 3,567,769
1,392,000 General Electric Co., 5.3%, 2/11/21 1,442,196
--------------
Total Miscellaneous Manufacturers $ 5,009,965
-----------------------------------------------------------------------------------------------------------------------------------
Multi-National -- 0.3%
11,165,000 Africa Finance Corp., 4.375%, 4/17/26 (144A) $ 11,522,727
2,230,000 Banque Ouest Africaine de Developpement, 5.0%,
7/27/27 (144A) 2,296,900
4,450,000 Banque Ouest Africaine de Developpement, 5.5%,
5/6/21 (144A) 4,633,563
--------------
Total Multi-National $ 18,453,190
-----------------------------------------------------------------------------------------------------------------------------------
Oil & Gas -- 1.5%
1,480,000 Apache Corp., 4.25%, 1/15/30 $ 1,526,154
13,130,000 Apache Corp., 4.375%, 10/15/28 13,721,056
6,360,000 BP Capital Markets Plc, 3.062%, 3/17/22 6,506,638
5,275,000 CNOOC Nexen Finance 2014 ULC, 4.25%, 4/30/24 5,598,083
14,000,000 EQT Corp., 3.9%, 10/1/27 13,292,051
215,000 Motiva Enterprises LLC, 5.75%, 1/15/20 (144A) 218,069
1,770,000 Newfield Exploration Co., 5.375%, 1/1/26 1,939,514
The accompanying notes are an integral part of these financial statements.
42 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Oil & Gas -- (continued)
1,400,000 Newfield Exploration Co., 5.625%, 7/1/24 $ 1,547,980
12,720,000 Noble Energy, Inc., 5.25%, 11/15/43 13,706,072
4,750,000 Sinopec Group Overseas Development 2014, Ltd.,
4.375%, 4/10/24 (144A) 5,078,840
10,050,000 Sinopec Group Overseas Development 2015, Ltd.,
2.5%, 4/28/20 (144A) 10,049,737
8,468,000 Valero Energy Corp., 6.625%, 6/15/37 10,728,254
--------------
Total Oil & Gas $ 83,912,448
-----------------------------------------------------------------------------------------------------------------------------------
Oil & Gas Services -- 0.1%
2,250,000 Halliburton Co., 7.6%, 8/15/96 (144A) $ 3,043,866
--------------
Total Oil & Gas Services $ 3,043,866
-----------------------------------------------------------------------------------------------------------------------------------
Pharmaceuticals -- 1.6%
12,975,000 AbbVie, Inc., 4.875%, 11/14/48 $ 13,656,203
4,900,000 Bayer US Finance II LLC, 4.25%, 12/15/25 (144A) 5,184,582
14,240,000 Bristol-Myers Squibb Co., 2.9%, 7/26/24 (144A) 14,573,504
12,950,000 Cardinal Health, Inc., 3.079%, 6/15/24 13,037,317
6,225,000 Cigna Corp., 4.375%, 10/15/28 (144A) 6,715,937
461,661 CVS Pass-Through Trust, 5.298%, 1/11/27 (144A) 491,100
2,511,654 CVS Pass-Through Trust, 5.773%, 1/10/33 (144A) 2,801,847
1,738,440 CVS Pass-Through Trust, 5.926%, 1/10/34 (144A) 1,975,729
3,156,465 CVS Pass-Through Trust, 6.036%, 12/10/28 3,534,421
4,623,226 CVS Pass-Through Trust, 8.353%, 7/10/31 (144A) 5,810,941
1,391,000 Perrigo Finance Unlimited Co., 3.5%, 3/15/21 1,387,514
4,570,000 Perrigo Finance Unlimited Co., 3.9%, 12/15/24 4,536,864
3,084,000 Shire Acquisitions Investments Ireland, DAC,
3.2%, 9/23/26 3,109,866
7,150,000 Takeda Pharmaceutical Co., Ltd., 4.0%,
11/26/21 (144A) 7,398,104
6,382,000 Teva Pharmaceutical Finance Netherlands III BV,
3.15%, 10/1/26 4,946,050
--------------
Total Pharmaceuticals $ 89,159,979
-----------------------------------------------------------------------------------------------------------------------------------
Pipelines -- 3.4%
9,940,000 Andeavor Logistics LP/Tesoro Logistics Finance Corp.,
4.25%, 12/1/27 $ 10,499,740
5,595,000 Cheniere Energy Partners LP, 5.25%, 10/1/25 5,783,831
750,000 DCP Midstream Operating LP, 5.35%, 3/15/20 (144A) 760,313
3,450,000 DCP Midstream Operating LP, 5.375%, 7/15/25 3,635,437
4,025,000 DCP Midstream Operating LP, 5.6%, 4/1/44 3,783,500
3,629,000 Enable Midstream Partners LP, 4.4%, 3/15/27 3,657,564
14,441,000 Enable Midstream Partners LP, 4.95%, 5/15/28 15,138,142
10,550,000 Enbridge, Inc., 3.7%, 7/15/27 10,896,218
1,149,000 Energy Transfer Operating LP, 5.5%, 6/1/27 1,284,384
5,130,000 Energy Transfer Operating LP, 6.0%, 6/15/48 5,855,503
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 43
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Pipelines -- (continued)
4,207,000 Energy Transfer Operating LP, 6.5%, 2/1/42 $ 4,973,266
510,000 EnLink Midstream LLC, 5.375%, 6/1/29 522,750
8,316,000 EnLink Midstream Partners LP, 5.45%, 6/1/47 7,110,180
1,590,000 EnLink Midstream Partners LP, 5.6%, 4/1/44 1,458,825
3,573,000 Enterprise Products Operating LLC, 2.8%, 2/15/21 3,597,778
10,830,000 Kinder Morgan, Inc., 5.05%, 2/15/46 11,801,481
4,724,000 Midwest Connector Capital Co. LLC, 4.625%,
4/1/29 (144A) 5,062,950
3,875,000 MPLX LP, 4.875%, 12/1/24 4,215,355
3,045,000 MPLX LP, 4.875%, 6/1/25 3,309,373
6,920,000 MPLX LP, 5.5%, 2/15/49 7,859,543
12,125,000 Phillips 66 Partners LP, 3.75%, 3/1/28 12,362,606
10,675,000 Sabine Pass Liquefaction LLC, 5.0%, 3/15/27 11,704,658
6,730,000 Sunoco Logistics Partners Operations LP,
5.35%, 5/15/45 6,998,988
10,876,000 Sunoco Logistics Partners Operations LP, 5.4%, 10/1/47 11,551,449
786,000 Sunoco Logistics Partners Operations LP, 6.1%, 2/15/42 870,357
2,713,000 Targa Resources Partners LP/Targa Resources Partners
Finance Corp., 5.0%, 1/15/28 2,719,782
8,870,000 Texas Eastern Transmission LP, 3.5%, 1/15/28 (144A) 9,013,719
17,007,000 Williams Cos., Inc., 5.75%, 6/24/44 19,848,583
2,475,000 Williams Cos., Inc., 7.75%, 6/15/31 3,263,170
--------------
Total Pipelines $ 189,539,445
-----------------------------------------------------------------------------------------------------------------------------------
Real Estate -- 0.2%
10,250,000(a)(c) AT Securities BV, 5.25% (5 Year USD Swap
Rate + 355 bps) $ 10,029,625
--------------
Total Real Estate $ 10,029,625
-----------------------------------------------------------------------------------------------------------------------------------
REITs -- 1.5%
2,681,000 Alexandria Real Estate Equities, Inc., 2.75%, 1/15/20 $ 2,682,117
2,768,000 Alexandria Real Estate Equities, Inc., 3.9%, 6/15/23 2,903,367
1,350,000 Alexandria Real Estate Equities, Inc., 3.95%, 1/15/27 1,416,229
3,415,000 Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22 3,600,219
3,450,000 Duke Realty LP, 3.625%, 4/15/23 3,568,749
8,560,000 Duke Realty LP, 3.75%, 12/1/24 8,957,392
9,500,000 Essex Portfolio LP, 3.5%, 4/1/25 9,812,504
1,480,000 Essex Portfolio LP, 3.625%, 5/1/27 1,537,165
6,805,000 Healthcare Trust of America Holdings LP, 3.5%, 8/1/26 6,875,063
4,675,000 Healthcare Trust of America Holdings LP, 3.75%, 7/1/27 4,818,365
2,032,000 Highwoods Realty LP, 3.2%, 6/15/21 2,046,369
3,390,000 Highwoods Realty LP, 3.625%, 1/15/23 3,463,460
7,105,000 Highwoods Realty LP, 4.125%, 3/15/28 7,400,895
1,800,000 SBA Tower Trust, 2.877%, 7/9/21 (144A) 1,803,263
6,975,000 SBA Tower Trust, 3.869%, 10/8/24 (144A) 7,202,287
The accompanying notes are an integral part of these financial statements.
44 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
REITs -- (continued)
1,520,000 UDR, Inc., 2.95%, 9/1/26 $ 1,511,179
6,077,000 UDR, Inc., 4.0%, 10/1/25 6,460,009
5,300,000 UDR, Inc., 4.4%, 1/26/29 5,790,914
--------------
Total REITs $ 81,849,546
-----------------------------------------------------------------------------------------------------------------------------------
Retail -- 0.2%
7,040,000 Alimentation Couche-Tard, Inc., 3.55%, 7/26/27 (144A) $ 7,182,410
3,994,000 AutoZone, Inc., 2.5%, 4/15/21 4,003,223
--------------
Total Retail $ 11,185,633
-----------------------------------------------------------------------------------------------------------------------------------
Semiconductors -- 0.1%
4,470,000 Broadcom, Inc., 3.625%, 10/15/24 (144A) $ 4,492,220
3,485,000 Broadcom, Inc., 4.25%, 4/15/26 (144A) 3,536,841
--------------
Total Semiconductors $ 8,029,061
-----------------------------------------------------------------------------------------------------------------------------------
Software -- 0.2%
5,501,000 Fiserv, Inc., 3.8%, 10/1/23 $ 5,786,449
5,650,000 salesforce.com, Inc., 3.7%, 4/11/28 6,091,469
--------------
Total Software $ 11,877,918
-----------------------------------------------------------------------------------------------------------------------------------
Telecommunications -- 0.2%
5,227,000 CommScope Technologies LLC, 5.0%, 3/15/27 (144A) $ 4,547,490
3,989,000 Level 3 Financing, Inc., 5.375%, 1/15/24 4,078,753
--------------
Total Telecommunications $ 8,626,243
-----------------------------------------------------------------------------------------------------------------------------------
Transportation -- 0.3%
13,715,000 Union Pacific Corp., 3.375%, 2/1/35 $ 13,650,188
--------------
Total Transportation $ 13,650,188
-----------------------------------------------------------------------------------------------------------------------------------
Trucking & Leasing -- 0.3%
6,623,000 Penske Truck Leasing Co. LP/PTL Finance Corp., 2.7%,
3/14/23 (144A) $ 6,620,271
4,825,000 Penske Truck Leasing Co. LP/PTL Finance Corp.,
3.375%, 2/1/22 (144A) 4,918,793
4,615,000 Penske Truck Leasing Co. LP/PTL Finance Corp., 4.2%,
4/1/27 (144A) 4,797,107
--------------
Total Trucking & Leasing $ 16,336,171
-----------------------------------------------------------------------------------------------------------------------------------
Water -- 0.1%
3,340,000 Aqua America, Inc., 3.566%, 5/1/29 $ 3,470,901
--------------
Total Water $ 3,470,901
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL CORPORATE BONDS
(Cost $1,467,257,093) $1,527,317,148
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 45
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
FOREIGN GOVERNMENT BOND -- 0.2%
of Net Assets
Mexico -- 0.2%
13,425,000 Mexico Government International Bond, 4.6%, 2/10/48 $ 13,827,884
--------------
Total Mexico $ 13,827,884
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL FOREIGN GOVERNMENT BOND
(Cost $12,361,309) $ 13,827,884
-----------------------------------------------------------------------------------------------------------------------------------
INSURANCE-LINKED SECURITIES -- 3.1%
of Net Assets(f)
Catastrophe Linked Bonds -- 1.0%
Earthquakes -- California -- 0.1%
2,700,000(b) Ursa Re, 5.587% (3 Month U.S. Treasury Bill +
350 bps), 5/27/20 (144A) $ 2,672,730
3,000,000(b) Ursa Re, 6.087% (3 Month U.S. Treasury Bill +
400 bps), 12/10/19 (144A) 2,960,700
800,000(b) Ursa Re, 8.087% (3 Month U.S. Treasury Bill +
600 bps), 5/27/20 (144A) 791,760
--------------
$ 6,425,190
-----------------------------------------------------------------------------------------------------------------------------------
Earthquakes -- Chile -- 0.0%+
1,500,000(b) International Bank for Reconstruction & Development,
4.818% (3 Month USD LIBOR + 250 bps),
2/15/21 (144A) $ 1,486,200
-----------------------------------------------------------------------------------------------------------------------------------
Earthquakes -- Colombia -- 0.0%+
1,250,000(b) International Bank for Reconstruction & Development,
5.318% (3 Month USD LIBOR + 300 bps),
2/15/21 (144A) $ 1,236,125
-----------------------------------------------------------------------------------------------------------------------------------
Earthquakes -- Mexico -- 0.0%+
1,050,000(b) International Bank for Reconstruction & Development,
4.818% (3 Month USD LIBOR + 250 bps),
2/14/20 (144A) $ 1,040,760
-----------------------------------------------------------------------------------------------------------------------------------
Earthquakes -- U.S. -- 0.1%
1,150,000(b) Acorn Re, 5.151% (3 Month USD LIBOR + 275 bps),
11/10/21 (144A) $ 1,136,200
700,000(b) Kilimanjaro Re, 5.837% (3 Month U.S. Treasury Bill +
375 bps), 11/25/19 (144A) 694,400
--------------
$ 1,830,600
-----------------------------------------------------------------------------------------------------------------------------------
Health -- U.S. -- 0.1%
2,900,000(b) Vitality Re VII, 4.237% (3 Month U.S. Treasury Bill +
215 bps), 1/7/20 (144A) $ 2,906,960
1,000,000(b) Vitality Re VII, 4.737% (3 Month U.S. Treasury Bill +
265 bps), 1/7/20 (144A) 1,005,600
--------------
$ 3,912,560
-----------------------------------------------------------------------------------------------------------------------------------
Flood -- U.S. -- 0.0%+
250,000(b) FloodSmart Re, 13.337% (3 Month U.S. Treasury Bill +
1,125 bps), 3/7/22 (144A) $ 249,750
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
46 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- U.S. -- 0.4%
2,000,000(b) Bowline Re, 6.587% (3 Month U.S. Treasury Bill +
450 bps), 5/23/22 (144A) $ 1,936,000
1,350,000(b) Caelus Re IV, 7.337% (3 Month U.S. Treasury Bill +
525 bps), 3/6/20 (144A) 1,329,750
750,000(b) Caelus Re V, 5.217% (3 Month U.S. Treasury Bill +
313 bps), 6/5/20 (144A) 674,925
1,000,000(b) Caelus Re V, 6.847% (1 Month U.S. Treasury Bill +
476 bps), 6/5/20 (144A) 250,000
2,000,000(b) Kilimanjaro Re, 7.338% (3 Month USD LIBOR +
494 bps), 5/6/22 (144A) 1,930,200
3,000,000(b) Kilimanjaro Re, 8.837% (3 Month U.S. Treasury Bill +
675 bps), 12/6/19 (144A) 2,964,300
1,500,000(b) Kilimanjaro Re, 11.337% (3 Month U.S. Treasury Bill +
925 bps), 12/6/19 (144A) 1,465,500
2,600,000(b) Kilimanjaro II Re, 7.633% (6 Month USD LIBOR +
630 bps), 4/20/21 (144A) 2,568,800
3,500,000(b) Kilimanjaro II Re, 9.823% (6 Month USD LIBOR +
791 bps), 4/20/21 (144A) 3,445,050
1,250,000+(b) Panthera Re, 5.587% (3 Month U.S. Treasury Bill +
350 bps), 3/9/20 (144A) 1,253,375
2,500,000(b) Residential Reinsurance 2016, 6.057% (3 Month U.S.
Treasury Bill + 397 bps), 12/6/20 (144A) 2,418,250
1,600,000(b) Sanders Re, 5.271% (6 Month USD LIBOR +
307 bps), 12/6/21 (144A) 1,556,640
1,000,000(b) Skyline Re, 4.587% (3 Month U.S. Treasury Bill +
250 bps), 1/6/20 (144A) 1,000,000
--------------
$ 22,792,790
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- U.S. Regional -- 0.1%
2,500,000(b) Long Point Re III, 2.75% (ZERO + 275 bps),
6/1/22 (144A) $ 2,463,750
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- 0.2%
1,300,000(b) Galilei Re, 7.306% (6 Month USD LIBOR + 479 bps),
1/8/20 (144A) $ 1,288,430
1,500,000(b) Galilei Re, 7.326% (6 Month USD LIBOR + 479 bps),
1/8/21 (144A) 1,489,350
1,300,000(b) Galilei Re, 8.116% (6 Month USD LIBOR + 560 bps),
1/8/20 (144A) 1,285,700
1,200,000(b) Galilei Re, 8.136% (6 Month USD LIBOR + 560 bps),
1/8/21 (144A) 1,179,960
1,400,000(b) Galilei Re, 9.296% (6 Month USD LIBOR + 678 bps),
1/8/20 (144A) 1,386,000
1,500,000(b) Galilei Re, 9.316% (6 Month USD LIBOR + 678 bps),
1/8/21 (144A) 1,485,750
--------------
$ 8,115,190
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 47
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Pandemic -- Worldwide -- 0.0%+
1,700,000(b) International Bank for Reconstruction & Development,
9.365% (6 Month USD LIBOR + 690 bps),
7/15/20 (144A) $ 1,705,100
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- Florida -- 0.0%+
1,400,000(b) Casablanca Re, 6.127% (6 Month USD LIBOR +
402 bps), 6/4/20 (144A) $ 1,403,640
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- Japan -- 0.0%+
500,000(b) Aozora Re, 4.343% (6 Month USD LIBOR + 229 bps),
4/7/20 (144A) $ 493,000
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- Texas -- 0.0%+
1,700,000(b) Alamo Re, 5.897% (3 Month U.S. Treasury Bill +
381 bps), 6/8/20 (144A) $ 1,684,870
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- U.S. Multistate -- 0.0%+
1,000,000(b) Citrus Re, 2.587% (1 Month U.S. Treasury Bill +
50 bps), 4/9/20 (144A) $ 250,000
--------------
Total Catastrophe Linked Bonds $ 55,089,525
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Face
Amount
USD ($)
-----------------------------------------------------------------------------------------------------------------------------------
Collateralized Reinsurance -- 0.4%
Earthquakes -- California -- 0.0%+
1,600,000+(g)(h) Resilience Re, 10/8/19 $ 1,747,040
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Massachusetts -- 0.1%
5,000,000+(g)(h) Denning Re 2018, 7/15/19 $ 5,041,996
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- U.S. -- 0.1%
600,000+(g)(h) Dingle Re 2019, 2/1/20 $ 558,055
2,800,000+(g)(h) Kingsbarns Re 2017, 5/19/20 2,828
2,000,000+(g)(h) Port Royal Re 2019, 5/31/20 1,951,580
1,600,000+(g)(h) Riviera Re 2019, 5/31/20 1,519,977
--------------
$ 4,032,440
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- U.S. Regional -- 0.1%
2,500,000+(g)(h) Ailsa Re 2019, 6/30/20 $ 2,510,000
1,000,000+(g)(h) EC0012 Re, 9/15/19 999,000
2,500,000+(g)(h) Ocean View Re 2019, 6/30/20 2,368,851
--------------
$ 5,877,851
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- 0.1%
4,918,415+(h) Kilarney Re 2018, 4/15/20 $ 2,482,816
28,000+(h) Limestone Re 2016-1, 8/31/21 68,631
82,000+(h) Limestone Re 2016-1, 8/31/21 200,990
2,000,000+(h) Resilience Re, 7/26/19 16,000
3,600,000+(h) Resilience Re, 4/6/20 360
The accompanying notes are an integral part of these financial statements.
48 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Face
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- (continued)
567,400+(h) Seminole Re 2018, 1/15/20 $ 234,052
142,857+(g)(h) Seminole Re 2019, 1/31/20 124,342
553,333+(h) Walton Health Re 2018, 6/15/20 276,667
--------------
$ 3,403,858
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- Florida -- 0.0%+
1,500,000+(h) Formby Re 2018, 8/31/19 $ 1,543,300
511,212+(g)(h) Formby Re 2018-2, 9/30/19 4,192
--------------
$ 1,547,492
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- North Carolina -- 0.0%+
1,500,000+(g)(h) Lahinch Re 2019, 5/31/20 $ 1,467,000
-----------------------------------------------------------------------------------------------------------------------------------
Windstorm -- U.S. Regional -- 0.0%+
1,000,000+(g)(h) Oakmont Re 2017, 4/15/20 $ 29,400
2,500,000+(g)(h) Oakmont Re 2019, 4/30/20 2,347,801
250,000+(g)(h) Resilience Re, 6/15/20 121,250
--------------
$ 2,498,451
--------------
Total Collateralized Reinsurance $ 25,616,128
-----------------------------------------------------------------------------------------------------------------------------------
Industry Loss Warranties -- 0.1%
Multiperil -- U.S. -- 0.1%
4,257,500+(h) Cypress Re 2018, 7/15/19 $ 310,797
2,300,000+(g)(h) Cypress Re 2019, 1/31/20 2,173,575
--------------
Total Industry Loss Warranties $ 2,484,372
-----------------------------------------------------------------------------------------------------------------------------------
Reinsurance Sidecars -- 1.6%
Multiperil -- U.S. -- 0.2%
3,000,000+(g)(h) Carnoustie Re 2015, 7/31/20 $ 9,600
3,600,000+(g)(h) Carnoustie Re 2016, 11/30/20 97,200
4,500,000+(g)(h) Carnoustie Re 2017, 11/30/21 1,143,900
2,000,000+(g)(h) Carnoustie Re 2018, 12/31/21 199,600
1,139,928+(g)(h) Carnoustie Re 2019, 12/31/22 1,160,511
1,300,000+(g)(h) Castle Stuart Re 2018, 12/1/21 1,096,420
2,000,000+(g)(i) Harambee Re 2018, 12/31/21 371,674
5,000,000+(g)(i) Harambee Re 2019, 12/31/22 5,095,000
1,000,000+(g)(h) Prestwick Re 2015-1, 7/31/20 17,000
1,200,007+(g)(h) Sector Re V, Series 7, Class G, 3/1/22 (144A) 860,322
--------------
$ 10,051,227
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- 1.4%
550,000+(g)(h) Alturas Re 2019-1, 3/10/23 $ 575,025
2,800,000+(g)(h) Alturas Re 2019-2, 3/10/22 2,847,880
250,000+(g)(h) Alturas Re 2019-3, 9/12/23 250,000
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 49
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Face
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- (continued)
900,000+(g)(h) Arlington Re 2015, 2/1/20 $ 43,740
2,000,000+(g)(h) Bantry Re 2016, 3/30/20 161,200
1,500,000+(g)(h) Bantry Re 2017, 3/31/20 475,650
2,000,000+(g)(h) Bantry Re 2018, 12/31/21 122,800
5,000,000+(g)(h) Bantry Re 2019, 12/31/22 5,114,411
2,000,000+(g)(h) Berwick Re 2017-1, 2/1/20 66,200
10,192,268+(h) Berwick Re 2018-1, 12/31/21 1,682,743
7,846,828+(g)(h) Berwick Re 2019-1, 12/31/22 8,102,109
1,250,000+(g)(i) Blue Lotus Re 2018, 12/31/21 1,339,500
125,000+(g)(h) Eden Re II, 3/22/22 (144A) 297,038
185,850+(g)(h) Eden Re II, 3/22/22 (144A) 394,355
600,000+(g)(h) Eden Re II, 3/22/23 (144A) 636,420
5,906,150+(g)(h) Eden Re II, 3/22/23 (144A) 6,261,110
3,500,000+(g)(h) Gleneagles Re 2016, 11/30/20 109,340
1,000,000+(g)(h) Gleneagles Re 2018, 12/31/21 118,300
886,832+(g)(h) Gleneagles Re 2019, 12/31/22 914,797
2,118,314+(h) Gullane Re 2018, 12/31/21 1,998,841
2,500,000+(g)(h) Limestone Re 2018, 3/1/22 2,688,750
500,000+(g)(h) Limestone Re 2019, 9/9/22 516,100
500,000+(g)(i) Lion Rock Re 2019, 1/31/20 517,950
3,000,000+(g)(i) Lorenz Re 2017, 3/31/20 51,300
5,000,000+(g)(i) Lorenz Re 2018, 7/1/21 3,699,000
420,872+(g)(i) Lorenz Re 2019, 6/30/22 420,872
7,000,000+(g)(h) Merion Re 2018-2, 12/31/21 7,013,300
1,000,000+(g)(i) NCM Re 2019, 12/31/22 1,047,400
3,600,000+(h) Pangaea Re 2015-1, 2/1/20 4,680
4,000,000+(h) Pangaea Re 2015-2, 11/30/19 3,600
4,500,000+(h) Pangaea Re 2016-1, 11/30/20 14,850
3,000,000+(h) Pangaea Re 2016-2, 11/30/20 10,800
3,000,000+(h) Pangaea Re 2017-1, 11/30/21 48,300
3,800,000+(g)(h) Pangaea Re 2018-1, 12/31/21 223,440
6,500,000+(g)(h) Pangaea Re 2018-3, 7/1/22 5,101,850
4,017,011+(g)(h) Pangaea Re 2019-1, 2/1/23 4,099,323
2,100,000+(g)(h) Sector Re V, Series 7, Class A, 12/1/23 (144A) 2,188,718
300,000+(g)(h) Sector Re V, Series 7, Class C, 12/1/22 (144A) 145,900
300,000+(g)(h) Sector Re V, Series 7, Class C, 12/1/22 (144A) 145,900
400,000+(g)(h) Sector Re V, Series 8, Class D, 12/1/23 (144A) 416,899
758+(g)(h) Sector Re V, Series 8, Class F, 3/1/23 (144A) 39,743
2,557+(g)(h) Sector Re V, Series 8, Class G, 3/1/23 (144A) 96,140
1,500,000+(g)(h) Sector Re V, Series 9, Class A, 3/1/24 (144A) 1,536,192
900,000+(g)(h) Sector Re V, Series 9, Class G, 3/1/24 (144A) 912,489
2,000,000+(g)(h) Silverton Re 2017, 9/16/19 (144A) 24,400
3,000,000+(g)(h) St. Andrews Re 2017-1, 2/1/20 203,400
The accompanying notes are an integral part of these financial statements.
50 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Face
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Multiperil -- Worldwide -- (continued)
1,737,984+(g)(h) St. Andrews Re 2017-4, 6/1/20 $ 171,018
500,000+(g)(i) Thopas Re 2018, 12/31/21 90,550
3,000,000+(g)(i) Thopas Re 2019, 12/31/22 3,132,600
4,000,000+(h) Versutus Re 2017, 11/30/21 30,400
2,000,000+(g)(h) Versutus Re 2018, 12/31/21 4,600
1,734,905+(g)(h) Versutus Re 2019-B, 12/31/21 1,774,461
1,765,095+(g)(h) Versutus Re 2019-A, 12/31/21 1,805,339
1,000,000+(g)(i) Viribus Re 2018, 12/31/21 238,400
3,650,000+(g)(i) Viribus Re 2019, 12/31/22 3,925,575
1,623,326+(h) Woburn Re 2018, 12/31/21 689,914
4,979,452+(g)(h) Woburn Re 2019, 12/31/22 5,167,622
--------------
$ 79,713,234
--------------
Total Reinsurance Sidecars $ 89,764,461
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL INSURANCE-LINKED SECURITIES
(Cost $178,914,867) $ 172,954,486
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($)
-----------------------------------------------------------------------------------------------------------------------------------
MUNICIPAL BONDS -- 0.3% of Net Assets(j)
Municipal General Obligation -- 0.1%
2,335,000 Virginia Commonwealth Transportation Board,
Transportation Capital Projects, 4.0%, 5/15/32 $ 2,541,554
--------------
Total Municipal General Obligation $ 2,541,554
-----------------------------------------------------------------------------------------------------------------------------------
Municipal Higher Education -- 0.2%
525,000 Amherst College, 3.794%, 11/1/42 $ 546,025
7,425,000 Massachusetts Development Finance Agency, Harvard
University, Series A, 5.0%, 7/15/40 10,363,518
--------------
Total Municipal Higher Education $ 10,909,543
-----------------------------------------------------------------------------------------------------------------------------------
Municipal Transportation -- 0.0%+
600,000 Port Authority of New York & New Jersey,
Consolidated-174th, 4.458%, 10/1/62 $ 719,070
--------------
Total Municipal Transportation $ 719,070
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL MUNICIPAL BONDS
(Cost $13,892,320) $ 14,170,167
-----------------------------------------------------------------------------------------------------------------------------------
SENIOR SECURED FLOATING RATE LOAN
INTERESTS -- 1.7% of Net Assets*(b)
Automobile -- 0.2%
4,108,813 American Axle & Manufacturing, Inc., Tranche B Term
Loan, 4.721% (LIBOR + 225 bps), 4/6/24 $ 4,028,177
1,347,124 Cooper-Standard Automotive, Inc., Additional Term B-1
Loan, 4.402% (LIBOR + 200 bps), 11/2/23 1,296,607
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 51
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Automobile -- (continued)
1,431,664 CWGS Group LLC (aka Camping World, Inc.), Term
Loan, 5.19% (LIBOR + 275 bps), 11/8/23 $ 1,324,289
1,396,667 Goodyear Tire & Rubber Co., Second Lien Term Loan,
4.4% (LIBOR + 200 bps), 3/3/25 1,379,208
729,488 Navistar, Inc., Tranche B Term Loan, 5.91% (LIBOR +
350 bps), 11/6/24 729,792
1,334,117 TI Group Automotive Systems LLC, Initial US Term
Loan, 4.902% (LIBOR + 250 bps), 6/30/22 1,324,520
--------------
Total Automobile $ 10,082,593
-----------------------------------------------------------------------------------------------------------------------------------
Beverage, Food & Tobacco -- 0.1%
1,673,075 Darling Ingredients, Inc. (fka Darling International, Inc.),
Term B Loan, 4.41% (LIBOR + 200 bps), 12/18/24 $ 1,675,585
3,729,449 JBS USA Lux SA (fka JBS USA LLC), New Term Loan,
4.902% (LIBOR + 250 bps), 5/1/26 3,727,636
--------------
Total Beverage, Food & Tobacco $ 5,403,221
-----------------------------------------------------------------------------------------------------------------------------------
Broadcasting & Entertainment -- 0.0%+
408,127 UPC Financing Partnership, Facility AR, 4.894%
(LIBOR + 250 bps), 1/15/26 $ 408,040
--------------
Total Broadcasting & Entertainment $ 408,040
-----------------------------------------------------------------------------------------------------------------------------------
Buildings & Real Estate -- 0.0%+
143,237 Builders FirstSource, Inc., Refinancing Term Loan,
5.33% (LIBOR + 300 bps), 2/29/24 $ 142,958
1,592,632 Uniti Group, Inc., Shortfall Term Loan, 7.402%
(LIBOR + 500 bps), 10/24/22 1,556,201
--------------
Total Buildings & Real Estate $ 1,699,159
-----------------------------------------------------------------------------------------------------------------------------------
Chemicals -- 0.0%+
409,195 Allnex (Luxembourg) & Cy SCA (fka AI Chem & Cy
SCA), Tranche B-2 Term Loan, 5.771% (LIBOR +
325 bps), 9/13/23 $ 402,034
308,296 Allnex (Luxembourg) & Cy SCA (fka AI Chem & Cy
SCA), Tranche B-3 Term Loan, 5.771% (LIBOR +
325 bps), 9/13/23 302,901
--------------
Total Chemicals $ 704,935
-----------------------------------------------------------------------------------------------------------------------------------
Chemicals, Plastics & Rubber -- 0.1%
994,962 Axalta Coating Systems Dutch Holding B BV (Axalta
Coating Systems U.S. Holdings, Inc.), Term B-3 Dollar
Loan, 4.08% (LIBOR + 175 bps), 6/1/24 $ 985,013
488,750 Berry Global, Inc. (fka Berry Plastics Corp.), Term R
Loan, 4.412% (LIBOR + 200 bps), 1/19/24 484,779
235,216 Element Solutions, Inc. (Macdermid, Inc.), Initial Term
Loan, 4.652% (LIBOR + 225 bps), 1/30/26 234,873
384,378 Infiltrator Water Technologies LLC, First Lien Term B-2
Loan, 5.33% (LIBOR + 300 bps), 5/27/22 382,936
The accompanying notes are an integral part of these financial statements.
52 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Chemicals, Plastics & Rubber -- (continued)
514,929 Omnova Solutions, Inc., Term B-2 Loan, 5.652%
(LIBOR + 325 bps), 8/25/23 $ 515,253
1,431,110 Tronox Finance LLC, First Lien Initial Dollar Term Loan,
5.374% (LIBOR + 300 bps), 9/23/24 1,418,290
--------------
Total Chemicals, Plastics & Rubber $ 4,021,144
-----------------------------------------------------------------------------------------------------------------------------------
Computers & Electronics -- 0.1%
1,060,366 Energy Acquisition LP (aka Electrical Components
International), First Lien Initial Term Loan,
6.58% (LIBOR + 425 bps), 6/26/25 $ 1,033,857
2,135,722 Microchip Technology, Inc., Initial Term Loan, 4.41%
(LIBOR + 200 bps), 5/29/25 2,128,771
798,040 ON Semiconductor Corp., 2018 New Replacement
Term B-3 Loan, 4.152% (LIBOR + 175 bps), 3/31/23 788,785
--------------
Total Computers & Electronics $ 3,951,413
-----------------------------------------------------------------------------------------------------------------------------------
Diversified & Conglomerate Service -- 0.2%
563,714 Bright Horizons Family Solutions LLC (fka Bright
Horizons Family Solutions, Inc.), Term B Loan, 4.158%
(LIBOR + 175bps/PRIME + 75 bps), 11/7/23 $ 564,591
1,244,750 Change Healthcare Holdings, Inc. (fka Emdeon, Inc.),
Closing Date Term Loan, 5.152% (LIBOR +
275 bps), 3/1/24 1,236,711
637,000 Constellis Holdings LLC, First Lien Term B Loan, 7.583%
(LIBOR + 500 bps), 4/21/24 487,305
499,065 Filtration Group Corp., Initial Dollar Term Loan, 5.402%
(LIBOR + 300 bps), 3/29/25 498,619
2,328,120 NVA Holdings, Inc., First Lien Term B-3 Loan, 5.152%
(LIBOR + 275 bps), 2/2/25 2,327,149
1,075,250 Team Health Holdings, Inc., Initial Term Loan, 5.152%
(LIBOR + 275 bps), 2/6/24 947,564
--------------
Total Diversified & Conglomerate Service $ 6,061,939
-----------------------------------------------------------------------------------------------------------------------------------
Electric & Electrical -- 0.0%+
1,243,687 Dell International LLC (EMC Corp.), Refinancing
Term B Loan, 4.41% (LIBOR + 200 bps), 9/7/23 $ 1,238,609
224,359 Micron Technology, Inc., Term Loan, 4.16% (LIBOR +
175 bps), 4/26/22 224,429
460,605 Rackspace Hosting, Inc., First Lien Term B Loan,
5.576% (LIBOR + 300 bps), 11/3/23 425,714
--------------
Total Electric & Electrical $ 1,888,752
-----------------------------------------------------------------------------------------------------------------------------------
Electronics -- 0.2%
167,514 Avast Software BV, 2018 Refinancing Dollar Term
Loan, 4.58% (LIBOR + 225 bps), 9/29/23 $ 167,451
1,341,753 Rovi Solutions Corp./Rovi Guides, Inc., Term B Loan,
4.91% (LIBOR + 250 bps), 7/2/21 1,317,434
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 53
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Electronics -- (continued)
4,948,186 Scientific Games International, Inc., Initial Term B-5
Loan, 5.216% (LIBOR + 275 bps), 8/14/24 $ 4,880,148
4,641,499 Western Digital Corp., U.S. Term B-4 Loan, 4.152%
(LIBOR + 175 bps), 4/29/23 4,549,829
--------------
Total Electronics $ 10,914,862
-----------------------------------------------------------------------------------------------------------------------------------
Environmental Services -- 0.0%+
955,615 GFL Environmental, Inc., Effective Date Incremental
Term Loan, 5.402% (LIBOR + 300 bps), 5/30/25 $ 941,041
--------------
Total Environmental Services $ 941,041
-----------------------------------------------------------------------------------------------------------------------------------
Finance -- 0.0%+
1,318,874 Trans Union LLC, 2017 Replacement Term B-3 Loan,
4.402% (LIBOR + 200 bps), 4/10/23 $ 1,318,756
--------------
Total Finance $ 1,318,756
-----------------------------------------------------------------------------------------------------------------------------------
Financial Services -- 0.1%
2,411,395 RPI Finance Trust, Initial Term B-6 Loan, 4.402%
(LIBOR + 200 bps), 3/27/23 $ 2,416,562
--------------
Total Financial Services $ 2,416,562
-----------------------------------------------------------------------------------------------------------------------------------
Healthcare & Pharmaceuticals -- 0.2%
717,895 Alkermes, Inc., 2023 Term Loan, 4.67% (LIBOR +
225 bps), 3/27/23 $ 715,651
491,250 Alphabet Holding Co., Inc. (aka Nature's Bounty),
First Lien Initial Term Loan, 5.902% (LIBOR +
350 bps), 9/26/24 464,999
240,994 DaVita, Inc. (fka DaVita HealthCare Partners, Inc.),
Tranche B Term Loan, 5.135% (LIBOR +
275 bps), 6/24/21 241,145
4,996,272 Endo Luxembourg Finance Co. I S.a r.l., Initial Term
Loan, 6.688% (LIBOR + 425 bps), 4/29/24 4,699,618
398,941 Gentiva Health Services, Inc., First Lien Closing Date
Initial Term Loan, 6.188% (LIBOR +
375 bps), 7/2/25 399,679
708,687 Grifols Worldwide Operations, Ltd., Tranche B Term
Loan, 4.635% (LIBOR + 225 bps), 1/31/25 707,479
1,409,024 HCA, Inc., Tranche B-11 Term Loan, 4.08% (LIBOR +
175 bps), 3/17/23 1,411,078
719,081 Sterigenics-Nordion Holdings LLC, Incremental Term
Loan, 5.402% (LIBOR + 300 bps), 5/15/22 711,591
--------------
Total Healthcare & Pharmaceuticals $ 9,351,240
-----------------------------------------------------------------------------------------------------------------------------------
Healthcare, Education & Childcare -- 0.1%
770,000 Alliance HealthCare Services, Inc., First Lien Initial Term
Loan, 6.902% (LIBOR + 450 bps), 10/24/23 $ 743,050
566,162 Bausch Health Cos., Inc. (fka Valeant Pharmaceuticals
International, Inc.), Initial Term Loan, 5.412%
(LIBOR + 300 bps), 6/2/25 566,516
The accompanying notes are an integral part of these financial statements.
54 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Healthcare, Education & Childcare -- (continued)
2,194,004 KUEHG Corp. (fka KC MergerSub, Inc.) (aka KinderCare),
Term B-3 Loan, 6.08% (LIBOR + 375 bps), 2/21/25 $ 2,190,164
1,044,863 Select Medical Corp., Tranche B Term Loan, 4.85%
(LIBOR + 250 bps), 3/6/25 1,043,531
--------------
Total Healthcare, Education & Childcare $ 4,543,261
-----------------------------------------------------------------------------------------------------------------------------------
Home & Office Furnishings -- 0.0%+
653 Serta Simmons Bedding LLC, First Lien Initial Term
Loan, 5.908% (LIBOR + 350 bps), 11/8/23 $ 422
--------------
Total Home & Office Furnishings $ 422
-----------------------------------------------------------------------------------------------------------------------------------
Hotel, Gaming & Leisure -- 0.0%+
1,670,358 1011778 BC Unlimited Liability Co. (New Red
Finance, Inc.) (aka Burger King/Tim Hortons),
Term B-3 Loan, 4.652% (LIBOR + 225 bps), 2/16/24 $ 1,661,223
--------------
Total Hotel, Gaming & Leisure $ 1,661,223
-----------------------------------------------------------------------------------------------------------------------------------
Insurance -- 0.1%
3,829,438 Asurion LLC (fka Asurion Corp.), New Term B-7 Loan,
5.402% (LIBOR + 300 bps), 11/3/24 $ 3,825,846
420,807 MPH Acquisition Holdings LLC, Initial Term Loan,
5.08% (LIBOR + 275 bps), 6/7/23 403,361
835,125 USI, Inc. (fka Compass Investors, Inc.), 2017 New
Term Loan, 5.33% (LIBOR + 300 bps), 5/16/24 815,813
--------------
Total Insurance $ 5,045,020
-----------------------------------------------------------------------------------------------------------------------------------
Leasing -- 0.1%
941,582 Avolon TLB Borrower 1 (US) LLC, Term B-3 Loan,
4.133% (LIBOR + 175 bps), 1/15/25 $ 941,681
2,715,625 IBC Capital I, Ltd. (aka Goodpack, Ltd.), First Lien
Tranche B-1 Term Loan, 6.152% (LIBOR +
375 bps), 9/11/23 2,713,363
--------------
Total Leasing $ 3,655,044
-----------------------------------------------------------------------------------------------------------------------------------
Leisure & Entertainment -- 0.0%+
550,279 AMC Entertainment Holdings, Inc. (fka AMC
Entertainment, Inc.), Term B-1 Loan, 5.23% (LIBOR +
300 bps), 4/22/26 $ 549,978
375,088 Fitness International LLC, Term B Loan, 5.652%
(LIBOR + 325 bps), 4/18/25 373,056
1,257,239 Six Flags Theme Parks, Inc., Tranche B Term Loan,
4.41% (LIBOR + 200 bps), 4/17/26 1,259,596
--------------
Total Leisure & Entertainment $ 2,182,630
-----------------------------------------------------------------------------------------------------------------------------------
Machinery -- 0.0%+
1,159,642 NN, Inc., Tranche B Term Loan, 6.152% (LIBOR +
375 bps), 10/19/22 $ 1,144,663
--------------
Total Machinery $ 1,144,663
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 55
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
Metals & Mining -- 0.0%+
500,778 BWay Holding Co., Initial Term Loan, 5.854% (LIBOR +
325 bps), 4/3/24 $ 484,659
--------------
Total Metals & Mining $ 484,659
-----------------------------------------------------------------------------------------------------------------------------------
Printing & Publishing -- 0.0%+
1,274,000 Nielsen Finance LLC (VNU, Inc.), Class B-4 Term Loan,
4.412% (LIBOR + 200 bps), 10/4/23 $ 1,263,307
--------------
Total Printing & Publishing $ 1,263,307
-----------------------------------------------------------------------------------------------------------------------------------
Professional & Business Services -- 0.0%+
587,534 GW Honos Security Corp. (Garda World Security Corp.),
Term B Loan, 6.025% (LIBOR + 350bps/PRIME +
250 bps), 5/24/24 $ 584,376
987,500 Lamar Media Corp., Term B Loan, 4.125% (LIBOR +
175 bps), 3/14/25 989,963
--------------
Total Professional & Business Services $ 1,574,339
-----------------------------------------------------------------------------------------------------------------------------------
Retail -- 0.0%+
535,000 Staples, Inc., 2019 Refinancing New Term B-2 Loan,
7.101% (LIBOR + 450 bps), 9/12/24 $ 525,972
--------------
Total Retail $ 525,972
-----------------------------------------------------------------------------------------------------------------------------------
Telecommunications -- 0.1%
4,115,949 CenturyLink, Inc., Initial Term B Loan, 5.152% (LIBOR +
275 bps), 1/31/25 $ 4,024,625
895,500 Ciena Corp., Refinancing Term Loan, 4.383% (LIBOR +
200 bps), 9/26/25 896,480
904,891 Go Daddy Operating Co. LLC (GD Finance Co., Inc.),
Tranche B-1 Term Loan, 4.402% (LIBOR +
200 bps), 2/15/24 905,941
1,200,000 Level 3 Financing, Inc., Tranche B 2024 Term Loan,
4.652% (LIBOR + 225 bps), 2/22/24 1,191,625
1,270,750 Sprint Communications, Inc., Initial Term Loan, 4.938%
(LIBOR + 250 bps), 2/2/24 1,253,807
--------------
Total Telecommunications $ 8,272,478
-----------------------------------------------------------------------------------------------------------------------------------
Utilities -- 0.1%
938,698 Eastern Power LLC (Eastern Covert Midco LLC)
(aka TPF II LC LLC), Term Loan, 6.152% (LIBOR +
375 bps), 10/2/23 $ 939,088
1,481,735 Vistra Operations Co. LLC (fka Tex Operations Co. LLC),
Initial Term Loan, 4.402% (LIBOR +
200 bps), 8/4/23 1,481,646
--------------
Total Utilities $ 2,420,734
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SENIOR SECURED FLOATING RATE
LOAN INTERESTS
(Cost $93,031,879) $ 91,937,409
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
56 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
32.1% of Net Assets
1,040,449 Fannie Mae, 2.5%, 7/1/30 $ 1,048,325
1,101,042 Fannie Mae, 2.5%, 7/1/30 1,109,881
1,838,124 Fannie Mae, 2.5%, 7/1/30 1,852,866
220,410 Fannie Mae, 2.5%, 12/1/42 219,223
229,747 Fannie Mae, 2.5%, 12/1/42 229,048
213,639 Fannie Mae, 2.5%, 1/1/43 212,989
86,357 Fannie Mae, 2.5%, 2/1/43 86,094
111,880 Fannie Mae, 2.5%, 2/1/43 111,090
2,343,606 Fannie Mae, 2.5%, 2/1/43 2,336,476
326,211 Fannie Mae, 2.5%, 3/1/43 325,219
118,790 Fannie Mae, 2.5%, 4/1/43 118,428
288,088 Fannie Mae, 2.5%, 8/1/43 287,211
226,967 Fannie Mae, 2.5%, 12/1/43 226,277
162,194 Fannie Mae, 2.5%, 3/1/44 161,701
198,806 Fannie Mae, 2.5%, 4/1/45 197,401
305,011 Fannie Mae, 2.5%, 4/1/45 302,856
410,679 Fannie Mae, 2.5%, 4/1/45 407,777
430,367 Fannie Mae, 2.5%, 4/1/45 427,326
496,118 Fannie Mae, 2.5%, 4/1/45 492,612
523,817 Fannie Mae, 2.5%, 4/1/45 520,115
1,177,757 Fannie Mae, 2.5%, 4/1/45 1,169,434
1,369,780 Fannie Mae, 2.5%, 4/1/45 1,360,101
69,821 Fannie Mae, 2.5%, 5/1/45 69,328
75,525 Fannie Mae, 2.5%, 7/1/45 74,991
249,863 Fannie Mae, 2.5%, 8/1/45 248,097
86,664 Fannie Mae, 2.5%, 1/1/46 86,052
2,888,993 Fannie Mae, 3.0%, 9/1/28 2,960,972
2,613,306 Fannie Mae, 3.0%, 10/1/30 2,673,009
1,072,590 Fannie Mae, 3.0%, 4/1/31 1,096,400
15,158,877 Fannie Mae, 3.0%, 8/1/42 15,420,030
3,602,141 Fannie Mae, 3.0%, 9/1/42 3,673,108
1,081,996 Fannie Mae, 3.0%, 12/1/42 1,103,984
2,164,206 Fannie Mae, 3.0%, 2/1/43 2,208,185
589,241 Fannie Mae, 3.0%, 5/1/43 601,215
8,004,047 Fannie Mae, 3.0%, 5/1/43 8,141,969
555,052 Fannie Mae, 3.0%, 7/1/43 564,616
1,372,911 Fannie Mae, 3.0%, 8/1/43 1,396,567
3,868,163 Fannie Mae, 3.0%, 9/1/43 3,934,815
711,324 Fannie Mae, 3.0%, 3/1/45 725,329
5,990,398 Fannie Mae, 3.0%, 6/1/45 6,115,739
623,322 Fannie Mae, 3.0%, 5/1/46 637,146
801,518 Fannie Mae, 3.0%, 5/1/46 817,807
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 57
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
4,394,756 Fannie Mae, 3.0%, 9/1/46 $ 4,452,591
8,090,891 Fannie Mae, 3.0%, 10/1/46 8,196,534
8,196,739 Fannie Mae, 3.0%, 11/1/46 8,303,344
6,970,266 Fannie Mae, 3.0%, 1/1/47 7,124,850
2,566,226 Fannie Mae, 3.0%, 3/1/47 2,599,471
2,230,340 Fannie Mae, 3.5%, 6/1/28 2,309,856
943,916 Fannie Mae, 3.5%, 11/1/40 973,279
481,100 Fannie Mae, 3.5%, 10/1/41 500,231
404,883 Fannie Mae, 3.5%, 6/1/42 420,359
2,492,735 Fannie Mae, 3.5%, 7/1/42 2,587,860
2,637,194 Fannie Mae, 3.5%, 8/1/42 2,738,010
210,020 Fannie Mae, 3.5%, 11/1/42 218,959
433,355 Fannie Mae, 3.5%, 12/1/42 451,793
458,743 Fannie Mae, 3.5%, 12/1/42 478,255
4,468,731 Fannie Mae, 3.5%, 2/1/44 4,637,959
2,340,365 Fannie Mae, 3.5%, 9/1/44 2,424,396
4,992,451 Fannie Mae, 3.5%, 2/1/45 5,204,585
1,481,486 Fannie Mae, 3.5%, 4/1/45 1,535,300
5,647,243 Fannie Mae, 3.5%, 6/1/45 5,839,323
2,192,278 Fannie Mae, 3.5%, 8/1/45 2,261,103
7,034,091 Fannie Mae, 3.5%, 8/1/45 7,365,538
5,305,747 Fannie Mae, 3.5%, 9/1/45 5,455,989
6,412,362 Fannie Mae, 3.5%, 9/1/45 6,613,662
1,323,288 Fannie Mae, 3.5%, 10/1/45 1,368,299
10,723,746 Fannie Mae, 3.5%, 11/1/45 11,229,058
2,186,834 Fannie Mae, 3.5%, 12/1/45 2,253,465
2,332,613 Fannie Mae, 3.5%, 12/1/45 2,403,686
4,128,168 Fannie Mae, 3.5%, 12/1/45 4,257,759
4,758,985 Fannie Mae, 3.5%, 1/1/46 4,907,621
6,360,523 Fannie Mae, 3.5%, 1/1/46 6,560,207
2,650,984 Fannie Mae, 3.5%, 2/1/46 2,733,372
4,332,336 Fannie Mae, 3.5%, 2/1/46 4,467,644
1,754,829 Fannie Mae, 3.5%, 3/1/46 1,809,636
3,738,225 Fannie Mae, 3.5%, 4/1/46 3,854,404
2,375,337 Fannie Mae, 3.5%, 5/1/46 2,472,390
5,316,542 Fannie Mae, 3.5%, 7/1/46 5,473,308
8,111,247 Fannie Mae, 3.5%, 9/1/46 8,354,596
446,478 Fannie Mae, 3.5%, 10/1/46 461,456
983,237 Fannie Mae, 3.5%, 10/1/46 1,012,282
1,113,261 Fannie Mae, 3.5%, 11/1/46 1,146,146
4,183,876 Fannie Mae, 3.5%, 12/1/46 4,307,458
2,079,644 Fannie Mae, 3.5%, 1/1/47 2,141,030
4,244,468 Fannie Mae, 3.5%, 1/1/47 4,369,762
The accompanying notes are an integral part of these financial statements.
58 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
5,884,713 Fannie Mae, 3.5%, 1/1/47 $ 6,123,331
9,770,921 Fannie Mae, 3.5%, 1/1/47 10,098,481
5,390,411 Fannie Mae, 3.5%, 2/1/47 5,549,524
6,753,519 Fannie Mae, 3.5%, 5/1/47 6,952,884
7,607,481 Fannie Mae, 3.5%, 5/1/47 7,832,003
270,254 Fannie Mae, 3.5%, 7/1/47 278,183
2,597,727 Fannie Mae, 3.5%, 7/1/47 2,674,415
7,858,235 Fannie Mae, 3.5%, 7/1/47 8,081,016
10,733,909 Fannie Mae, 3.5%, 7/1/47 11,050,765
1,272,936 Fannie Mae, 3.5%, 8/1/47 1,310,514
17,246,670 Fannie Mae, 3.5%, 8/1/47 17,755,815
2,946,204 Fannie Mae, 3.5%, 11/1/47 3,033,172
6,884,495 Fannie Mae, 3.5%, 12/1/47 7,087,732
11,641,954 Fannie Mae, 3.5%, 12/1/47 11,980,562
14,820,958 Fannie Mae, 3.5%, 12/1/47 15,254,873
3,785,185 Fannie Mae, 3.5%, 1/1/48 3,888,503
2,922,982 Fannie Mae, 3.5%, 2/1/48 3,005,312
805,547 Fannie Mae, 3.771%, 12/1/20 821,302
9,457 Fannie Mae, 4.0%, 9/1/20 9,817
188,874 Fannie Mae, 4.0%, 4/1/25 196,422
208,698 Fannie Mae, 4.0%, 11/1/34 219,803
2,073,191 Fannie Mae, 4.0%, 4/1/39 2,185,678
5,644,571 Fannie Mae, 4.0%, 10/1/40 5,996,654
1,026,593 Fannie Mae, 4.0%, 12/1/40 1,090,024
1,028,158 Fannie Mae, 4.0%, 4/1/41 1,084,344
675,093 Fannie Mae, 4.0%, 5/1/41 711,986
1,323,578 Fannie Mae, 4.0%, 10/1/41 1,395,908
909,869 Fannie Mae, 4.0%, 12/1/41 959,597
326,070 Fannie Mae, 4.0%, 1/1/42 343,892
2,165,515 Fannie Mae, 4.0%, 1/1/42 2,283,887
1,997,393 Fannie Mae, 4.0%, 2/1/42 2,109,038
5,499,721 Fannie Mae, 4.0%, 2/1/42 5,800,303
117,365 Fannie Mae, 4.0%, 4/1/42 123,781
523,274 Fannie Mae, 4.0%, 4/1/42 551,875
2,210,263 Fannie Mae, 4.0%, 4/1/42 2,331,072
4,013,024 Fannie Mae, 4.0%, 5/1/42 4,231,293
91,827 Fannie Mae, 4.0%, 6/1/42 96,846
272,314 Fannie Mae, 4.0%, 6/1/42 283,314
138,000 Fannie Mae, 4.0%, 7/1/42 145,544
6,329,501 Fannie Mae, 4.0%, 8/1/42 6,675,438
1,230,923 Fannie Mae, 4.0%, 10/1/42 1,298,199
3,676,471 Fannie Mae, 4.0%, 8/1/43 3,866,308
4,619,469 Fannie Mae, 4.0%, 9/1/43 4,862,233
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 59
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
2,879,976 Fannie Mae, 4.0%, 11/1/43 $ 3,051,392
105,758 Fannie Mae, 4.0%, 1/1/44 110,994
4,475,133 Fannie Mae, 4.0%, 2/1/44 4,696,376
65,445 Fannie Mae, 4.0%, 6/1/44 68,543
80,319 Fannie Mae, 4.0%, 6/1/44 84,133
239,438 Fannie Mae, 4.0%, 7/1/44 250,697
4,317,470 Fannie Mae, 4.0%, 7/1/44 4,521,131
171,602 Fannie Mae, 4.0%, 8/1/44 179,592
198,612 Fannie Mae, 4.0%, 8/1/44 207,950
1,016,789 Fannie Mae, 4.0%, 8/1/44 1,064,284
3,078,955 Fannie Mae, 4.0%, 8/1/44 3,225,626
34,657 Fannie Mae, 4.0%, 9/1/44 36,287
269,867 Fannie Mae, 4.0%, 9/1/44 282,431
350,351 Fannie Mae, 4.0%, 9/1/44 366,716
1,307,350 Fannie Mae, 4.0%, 10/1/44 1,368,814
83,143 Fannie Mae, 4.0%, 11/1/44 87,002
89,421 Fannie Mae, 4.0%, 11/1/44 93,557
174,366 Fannie Mae, 4.0%, 11/1/44 182,401
4,249,243 Fannie Mae, 4.0%, 11/1/44 4,446,421
32,034 Fannie Mae, 4.0%, 12/1/44 33,506
413,162 Fannie Mae, 4.0%, 12/1/44 432,144
59,278 Fannie Mae, 4.0%, 1/1/45 62,020
182,415 Fannie Mae, 4.0%, 1/1/45 190,879
276,865 Fannie Mae, 4.0%, 1/1/45 289,585
43,502 Fannie Mae, 4.0%, 2/1/45 45,500
150,315 Fannie Mae, 4.0%, 2/1/45 157,471
324,893 Fannie Mae, 4.0%, 2/1/45 340,366
3,435,748 Fannie Mae, 4.0%, 3/1/45 3,593,588
2,350,558 Fannie Mae, 4.0%, 10/1/45 2,461,445
3,493,618 Fannie Mae, 4.0%, 10/1/45 3,654,126
4,039,742 Fannie Mae, 4.0%, 10/1/45 4,225,345
56,344 Fannie Mae, 4.0%, 11/1/45 58,933
2,817,590 Fannie Mae, 4.0%, 11/1/45 2,947,040
4,748,098 Fannie Mae, 4.0%, 12/1/45 4,966,236
1,945,916 Fannie Mae, 4.0%, 1/1/46 2,035,282
5,269,081 Fannie Mae, 4.0%, 2/1/46 5,521,755
1,310,157 Fannie Mae, 4.0%, 4/1/46 1,371,956
4,485,011 Fannie Mae, 4.0%, 6/1/46 4,691,036
4,812,483 Fannie Mae, 4.0%, 7/1/46 5,033,546
6,516,437 Fannie Mae, 4.0%, 7/1/46 6,815,724
3,677,239 Fannie Mae, 4.0%, 8/1/46 3,846,156
4,617,673 Fannie Mae, 4.0%, 8/1/46 4,829,790
1,373,207 Fannie Mae, 4.0%, 11/1/46 1,436,977
The accompanying notes are an integral part of these financial statements.
60 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
11,417,202 Fannie Mae, 4.0%, 1/1/47 $ 11,932,653
2,867,907 Fannie Mae, 4.0%, 4/1/47 2,994,741
2,912,555 Fannie Mae, 4.0%, 4/1/47 3,050,607
4,446,219 Fannie Mae, 4.0%, 4/1/47 4,656,978
516,790 Fannie Mae, 4.0%, 6/1/47 541,287
1,757,490 Fannie Mae, 4.0%, 6/1/47 1,840,799
2,730,116 Fannie Mae, 4.0%, 6/1/47 2,849,525
4,522,175 Fannie Mae, 4.0%, 6/1/47 4,716,614
8,126,414 Fannie Mae, 4.0%, 6/1/47 8,469,166
2,605,226 Fannie Mae, 4.0%, 7/1/47 2,728,720
2,654,986 Fannie Mae, 4.0%, 7/1/47 2,765,879
2,575,907 Fannie Mae, 4.0%, 8/1/47 2,685,606
4,662,629 Fannie Mae, 4.0%, 8/1/47 4,857,376
6,166,649 Fannie Mae, 4.0%, 12/1/47 6,416,020
8,395,806 Fannie Mae, 4.0%, 4/1/48 8,726,560
42,921,000 Fannie Mae, 4.0%, 7/1/49 (TBA) 44,360,362
3,282 Fannie Mae, 4.5%, 11/1/20 3,350
53,383 Fannie Mae, 4.5%, 11/1/20 54,615
155,497 Fannie Mae, 4.5%, 10/1/35 166,745
376,593 Fannie Mae, 4.5%, 8/1/40 404,466
820,128 Fannie Mae, 4.5%, 8/1/40 880,864
1,369,974 Fannie Mae, 4.5%, 11/1/40 1,467,196
517,927 Fannie Mae, 4.5%, 2/1/41 556,268
1,222,648 Fannie Mae, 4.5%, 4/1/41 1,313,121
65,100 Fannie Mae, 4.5%, 5/1/41 69,920
1,768,328 Fannie Mae, 4.5%, 5/1/41 1,899,292
2,294,016 Fannie Mae, 4.5%, 5/1/41 2,463,904
2,908,903 Fannie Mae, 4.5%, 5/1/41 3,139,998
870,601 Fannie Mae, 4.5%, 7/1/41 935,075
1,156,158 Fannie Mae, 4.5%, 7/1/41 1,241,790
3,223,208 Fannie Mae, 4.5%, 1/1/42 3,460,732
4,187,348 Fannie Mae, 4.5%, 1/1/42 4,497,035
422,730 Fannie Mae, 4.5%, 11/1/43 450,511
3,468,772 Fannie Mae, 4.5%, 12/1/43 3,694,150
5,730,732 Fannie Mae, 4.5%, 12/1/43 6,110,349
4,144,615 Fannie Mae, 4.5%, 1/1/44 4,413,892
2,238,947 Fannie Mae, 4.5%, 2/1/44 2,380,955
2,762,362 Fannie Mae, 4.5%, 2/1/44 2,939,539
4,396,750 Fannie Mae, 4.5%, 5/1/46 4,653,403
505,415 Fannie Mae, 4.5%, 1/1/47 532,546
426,992 Fannie Mae, 4.5%, 2/1/47 451,523
3,105,609 Fannie Mae, 4.5%, 2/1/47 3,273,584
4,160,000 Fannie Mae, 4.5%, 7/1/49 (TBA) 4,346,997
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 61
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
3,166 Fannie Mae, 5.0%, 1/1/20 $ 3,239
11,462 Fannie Mae, 5.0%, 1/1/20 11,728
1,573 Fannie Mae, 5.0%, 2/1/20 1,609
32,797 Fannie Mae, 5.0%, 10/1/20 33,557
3,352 Fannie Mae, 5.0%, 2/1/22 3,439
33,044 Fannie Mae, 5.0%, 2/1/22 33,810
36,946 Fannie Mae, 5.0%, 3/1/23 37,803
143,443 Fannie Mae, 5.0%, 5/1/23 149,537
34,808 Fannie Mae, 5.0%, 7/1/34 36,070
145,791 Fannie Mae, 5.0%, 10/1/34 155,847
564,328 Fannie Mae, 5.0%, 2/1/39 616,470
432,747 Fannie Mae, 5.0%, 6/1/40 467,082
488,525 Fannie Mae, 5.0%, 6/1/40 530,765
337,984 Fannie Mae, 5.0%, 7/1/40 367,294
502,849 Fannie Mae, 5.0%, 7/1/40 546,457
773,485 Fannie Mae, 5.0%, 7/1/40 840,549
601,521 Fannie Mae, 5.0%, 8/1/40 653,685
2,237,682 Fannie Mae, 5.0%, 2/1/41 2,431,735
7,794,643 Fannie Mae, 5.0%, 12/1/44 8,463,826
47,890,000 Fannie Mae, 5.0%, 7/1/49 (TBA) 50,622,162
4,893 Fannie Mae, 5.5%, 9/1/19 4,887
14,917 Fannie Mae, 5.5%, 6/1/33 16,465
65,097 Fannie Mae, 5.5%, 7/1/33 71,865
398,175 Fannie Mae, 5.5%, 7/1/34 442,276
197,907 Fannie Mae, 5.5%, 3/1/36 216,212
82,124 Fannie Mae, 5.5%, 5/1/36 89,692
120,713 Fannie Mae, 5.5%, 6/1/36 134,054
43,338 Fannie Mae, 5.72%, 11/1/28 43,923
23,534 Fannie Mae, 5.72%, 6/1/29 23,579
19,591 Fannie Mae, 5.9%, 11/1/27 19,608
67,760 Fannie Mae, 5.9%, 4/1/28 69,319
616 Fannie Mae, 6.0%, 9/1/29 686
2,760 Fannie Mae, 6.0%, 1/1/32 3,114
9,810 Fannie Mae, 6.0%, 2/1/32 10,980
3,903 Fannie Mae, 6.0%, 3/1/32 4,425
2,538 Fannie Mae, 6.0%, 8/1/32 2,875
290 Fannie Mae, 6.0%, 9/1/32 327
33,643 Fannie Mae, 6.0%, 10/1/32 38,122
5,706 Fannie Mae, 6.0%, 2/1/33 6,246
49,242 Fannie Mae, 6.0%, 3/1/33 55,834
54,774 Fannie Mae, 6.0%, 4/1/33 60,341
32,473 Fannie Mae, 6.0%, 7/1/33 35,547
103,183 Fannie Mae, 6.0%, 7/1/33 114,052
The accompanying notes are an integral part of these financial statements.
62 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
23,746 Fannie Mae, 6.0%, 11/1/33 $ 26,898
85,360 Fannie Mae, 6.0%, 8/1/34 96,770
4,371 Fannie Mae, 6.0%, 9/1/34 4,952
17,201 Fannie Mae, 6.0%, 9/1/34 19,538
27,860 Fannie Mae, 6.0%, 9/1/34 31,517
85,288 Fannie Mae, 6.0%, 9/1/34 94,318
8,174 Fannie Mae, 6.0%, 10/1/34 9,264
7,550 Fannie Mae, 6.0%, 11/1/34 8,561
115,280 Fannie Mae, 6.0%, 11/1/34 127,474
2,676 Fannie Mae, 6.0%, 2/1/35 3,031
6,175 Fannie Mae, 6.0%, 2/1/35 7,003
119,117 Fannie Mae, 6.0%, 4/1/35 135,031
18,467 Fannie Mae, 6.0%, 5/1/35 20,279
80,803 Fannie Mae, 6.0%, 10/1/35 88,459
149,191 Fannie Mae, 6.0%, 12/1/35 168,257
14,652 Fannie Mae, 6.0%, 12/1/37 16,576
164,920 Fannie Mae, 6.0%, 6/1/38 186,662
28,880 Fannie Mae, 6.0%, 7/1/38 32,016
5,965 Fannie Mae, 6.5%, 7/1/29 6,616
1,225 Fannie Mae, 6.5%, 1/1/31 1,359
1,690 Fannie Mae, 6.5%, 4/1/31 1,875
3,397 Fannie Mae, 6.5%, 5/1/31 3,768
61,235 Fannie Mae, 6.5%, 6/1/31 67,922
7,845 Fannie Mae, 6.5%, 8/1/31 8,702
2,735 Fannie Mae, 6.5%, 9/1/31 3,034
3,069 Fannie Mae, 6.5%, 9/1/31 3,404
2,460 Fannie Mae, 6.5%, 10/1/31 2,728
112,907 Fannie Mae, 6.5%, 12/1/31 125,236
4,229 Fannie Mae, 6.5%, 2/1/32 4,690
34,567 Fannie Mae, 6.5%, 3/1/32 38,341
76,085 Fannie Mae, 6.5%, 7/1/32 85,775
64,118 Fannie Mae, 6.5%, 10/1/32 71,119
26,654 Fannie Mae, 6.5%, 7/1/34 29,564
76,202 Fannie Mae, 6.5%, 11/1/37 89,316
20,236 Fannie Mae, 6.5%, 11/1/47 21,667
567 Fannie Mae, 7.0%, 12/1/30 587
5,958 Fannie Mae, 7.0%, 12/1/30 6,658
5,110 Fannie Mae, 7.0%, 4/1/31 5,990
6,649 Fannie Mae, 7.0%, 9/1/31 7,760
14,264 Fannie Mae, 7.0%, 12/1/31 14,558
12,755 Fannie Mae, 7.0%, 1/1/32 15,062
2,301,701 Federal Home Loan Mortgage Corp., 3.0%, 8/1/29 2,357,365
2,099,433 Federal Home Loan Mortgage Corp., 3.0%, 10/1/29 2,147,271
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 63
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
890,387 Federal Home Loan Mortgage Corp., 3.0%, 9/1/42 $ 908,481
5,608,323 Federal Home Loan Mortgage Corp., 3.0%, 11/1/42 5,722,111
659,463 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 673,684
1,692,974 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 1,729,477
1,852,327 Federal Home Loan Mortgage Corp., 3.0%, 5/1/43 1,889,982
1,380,271 Federal Home Loan Mortgage Corp., 3.0%, 5/1/45 1,404,040
1,133,188 Federal Home Loan Mortgage Corp., 3.0%, 8/1/45 1,150,136
4,409,693 Federal Home Loan Mortgage Corp., 3.0%, 6/1/46 4,499,328
3,651,358 Federal Home Loan Mortgage Corp., 3.0%, 9/1/46 3,701,312
1,215,690 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 1,240,402
1,886,823 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 1,910,449
5,386,179 Federal Home Loan Mortgage Corp., 3.0%, 2/1/47 5,457,232
756,517 Federal Home Loan Mortgage Corp., 3.0%, 3/1/47 764,976
355,658 Federal Home Loan Mortgage Corp., 3.0%, 7/1/47 359,278
183,684 Federal Home Loan Mortgage Corp., 3.5%, 3/1/26 189,692
1,334,998 Federal Home Loan Mortgage Corp., 3.5%, 4/1/42 1,386,619
2,376,518 Federal Home Loan Mortgage Corp., 3.5%, 8/1/43 2,468,721
5,765,299 Federal Home Loan Mortgage Corp., 3.5%, 7/1/44 5,982,512
666,085 Federal Home Loan Mortgage Corp., 3.5%, 8/1/44 690,804
493,097 Federal Home Loan Mortgage Corp., 3.5%, 9/1/44 513,790
2,028,603 Federal Home Loan Mortgage Corp., 3.5%, 10/1/44 2,101,594
97,056 Federal Home Loan Mortgage Corp., 3.5%, 11/1/44 100,275
5,327,708 Federal Home Loan Mortgage Corp., 3.5%, 12/1/44 5,510,376
2,584,367 Federal Home Loan Mortgage Corp., 3.5%, 3/1/45 2,667,152
636,832 Federal Home Loan Mortgage Corp., 3.5%, 4/1/45 657,232
6,382,040 Federal Home Loan Mortgage Corp., 3.5%, 6/1/45 6,649,943
166,713 Federal Home Loan Mortgage Corp., 3.5%, 7/1/45 173,910
5,558,540 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 5,791,883
6,288,300 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 6,489,752
6,387,316 Federal Home Loan Mortgage Corp., 3.5%, 11/1/45 6,608,684
3,430,230 Federal Home Loan Mortgage Corp., 3.5%, 3/1/46 3,534,082
5,591,429 Federal Home Loan Mortgage Corp., 3.5%, 5/1/46 5,759,571
5,682,042 Federal Home Loan Mortgage Corp., 3.5%, 7/1/46 5,926,428
8,062,910 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 8,399,803
8,405,986 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 8,713,773
10,153,333 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 10,546,923
3,375,275 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 3,477,655
9,840,383 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 10,245,989
2,015,832 Federal Home Loan Mortgage Corp., 3.5%, 1/1/47 2,076,632
568,895 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 588,839
1,899,047 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 1,956,327
3,660,853 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 3,771,274
8,612,294 Federal Home Loan Mortgage Corp., 3.5%, 7/1/47 8,872,068
The accompanying notes are an integral part of these financial statements.
64 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
8,290,862 Federal Home Loan Mortgage Corp., 3.5%, 8/1/47 $ 8,540,937
9,996,710 Federal Home Loan Mortgage Corp., 3.5%, 10/1/47 10,293,886
3,312,286 Federal Home Loan Mortgage Corp., 3.5%, 11/1/47 3,410,746
4,497,104 Federal Home Loan Mortgage Corp., 3.5%, 11/1/47 4,632,747
3,143,256 Federal Home Loan Mortgage Corp., 3.5%, 1/1/48 3,232,439
6,521,447 Federal Home Loan Mortgage Corp., 3.5%, 1/1/48 6,712,161
7,841,088 Federal Home Loan Mortgage Corp., 4.0%, 11/1/41 8,377,152
271,769 Federal Home Loan Mortgage Corp., 4.0%, 6/1/42 286,805
93,597 Federal Home Loan Mortgage Corp., 4.0%, 7/1/42 98,775
3,651,515 Federal Home Loan Mortgage Corp., 4.0%, 10/1/42 3,853,248
57,979 Federal Home Loan Mortgage Corp., 4.0%, 11/1/42 61,186
1,368,278 Federal Home Loan Mortgage Corp., 4.0%, 1/1/44 1,438,474
3,869,028 Federal Home Loan Mortgage Corp., 4.0%, 5/1/44 4,055,709
3,607,314 Federal Home Loan Mortgage Corp., 4.0%, 6/1/44 3,780,975
5,222,504 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 5,473,118
2,079,582 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 2,178,418
1,419,873 Federal Home Loan Mortgage Corp., 4.0%, 12/1/44 1,486,050
997,932 Federal Home Loan Mortgage Corp., 4.0%, 4/1/45 1,044,439
3,959,457 Federal Home Loan Mortgage Corp., 4.0%, 12/1/45 4,143,957
1,497,711 Federal Home Loan Mortgage Corp., 4.0%, 1/1/46 1,567,500
223,730 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 231,400
451,722 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 471,545
3,325,764 Federal Home Loan Mortgage Corp., 4.0%, 6/1/46 3,480,746
4,285,009 Federal Home Loan Mortgage Corp., 4.0%, 7/1/46 4,484,690
3,688,013 Federal Home Loan Mortgage Corp., 4.0%, 8/1/46 3,859,803
55,411 Federal Home Loan Mortgage Corp., 4.0%, 10/1/46 57,311
1,152,122 Federal Home Loan Mortgage Corp., 4.0%, 3/1/47 1,205,255
1,976,427 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 2,071,421
3,079,705 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 3,227,728
5,928,150 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 6,196,678
6,613,648 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 6,931,511
9,143,458 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 9,553,894
10,936,333 Federal Home Loan Mortgage Corp., 4.0%, 5/1/47 11,426,665
1,221,968 Federal Home Loan Mortgage Corp., 4.0%, 6/1/47 1,274,817
2,865,386 Federal Home Loan Mortgage Corp., 4.0%, 7/1/47 2,989,316
6,497,072 Federal Home Loan Mortgage Corp., 4.0%, 10/1/47 6,765,761
7,504 Federal Home Loan Mortgage Corp., 4.5%, 3/1/20 7,662
38,078 Federal Home Loan Mortgage Corp., 4.5%, 10/1/20 38,883
2,129,767 Federal Home Loan Mortgage Corp., 4.5%, 11/1/40 2,288,958
1,335,720 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 1,435,416
3,052,348 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 3,280,217
117,032 Federal Home Loan Mortgage Corp., 4.5%, 11/1/43 124,813
5,485,383 Federal Home Loan Mortgage Corp., 4.5%, 5/1/47 5,781,080
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 65
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
73,051 Federal Home Loan Mortgage Corp., 5.0%, 10/1/20 $ 74,778
4,315 Federal Home Loan Mortgage Corp., 5.0%, 12/1/21 4,422
8,192 Federal Home Loan Mortgage Corp., 5.0%, 11/1/34 8,967
54,444 Federal Home Loan Mortgage Corp., 5.0%, 6/1/35 57,581
227,832 Federal Home Loan Mortgage Corp., 5.0%, 9/1/38 247,497
221,223 Federal Home Loan Mortgage Corp., 5.0%, 10/1/38 240,328
140,655 Federal Home Loan Mortgage Corp., 5.5%, 9/1/33 156,033
7,943 Federal Home Loan Mortgage Corp., 5.5%, 1/1/34 8,800
5,551 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 5,920
71,988 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 80,018
87,841 Federal Home Loan Mortgage Corp., 5.5%, 8/1/35 96,963
18,069 Federal Home Loan Mortgage Corp., 5.5%, 11/1/35 20,053
758,220 Federal Home Loan Mortgage Corp., 5.5%, 6/1/41 842,715
41,828 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 45,926
52,970 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 58,317
3,306 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 3,727
31,818 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 36,089
10,746 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 11,770
100,465 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 113,988
70,473 Federal Home Loan Mortgage Corp., 6.0%, 9/1/33 79,920
11,661 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 13,225
29,182 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 32,467
8,241 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 9,027
110,674 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 121,497
19,399 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 22,004
32,943 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 36,304
119,870 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 132,601
305,633 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 346,794
59,608 Federal Home Loan Mortgage Corp., 6.0%, 8/1/34 65,783
14,694 Federal Home Loan Mortgage Corp., 6.0%, 4/1/35 16,095
44,266 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 48,485
48,379 Federal Home Loan Mortgage Corp., 6.0%, 4/1/36 53,140
7,312 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 8,297
31,510 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 34,520
20,329 Federal Home Loan Mortgage Corp., 6.0%, 12/1/36 22,483
46,532 Federal Home Loan Mortgage Corp., 6.0%, 1/1/38 52,807
53,549 Federal Home Loan Mortgage Corp., 6.0%, 7/1/38 59,651
285 Federal Home Loan Mortgage Corp., 6.5%, 11/1/30 316
141 Federal Home Loan Mortgage Corp., 6.5%, 1/1/31 157
316 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 351
1,160 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 1,287
4,682 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 5,196
4,891 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 5,524
The accompanying notes are an integral part of these financial statements.
66 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
471 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 $ 533
3,589 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 3,984
113 Federal Home Loan Mortgage Corp., 6.5%, 6/1/32 125
7,754 Federal Home Loan Mortgage Corp., 6.5%, 7/1/32 8,953
102 Federal Home Loan Mortgage Corp., 6.5%, 1/1/33 113
25,506 Federal Home Loan Mortgage Corp., 6.5%, 10/1/33 29,588
7,400 Federal Home Loan Mortgage Corp., 7.0%, 8/1/22 7,437
39,702 Federal Home Loan Mortgage Corp., 7.0%, 9/1/22 40,960
1,916 Federal Home Loan Mortgage Corp., 7.0%, 11/1/30 2,214
1,367 Federal Home Loan Mortgage Corp., 7.0%, 6/1/31 1,369
72,647 Federal Home Loan Mortgage Corp., 7.0%, 10/1/46 74,838
11,385,000 Government National Mortgage Association, 4.0%,
7/1/49 (TBA) 11,802,154
6,702,382 Government National Mortgage Association I,
3.5%, 11/15/41 6,958,754
5,203,204 Government National Mortgage Association I,
3.5%, 7/15/42 5,420,703
1,212,172 Government National Mortgage Association I,
3.5%, 10/15/42 1,260,939
764,176 Government National Mortgage Association I,
3.5%, 1/15/44 793,424
8,376,518 Government National Mortgage Association I,
3.5%, 1/15/45 8,659,173
2,293,360 Government National Mortgage Association I,
3.5%, 8/15/46 2,370,746
7,314 Government National Mortgage Association I,
4.0%, 5/15/39 7,628
2,981 Government National Mortgage Association I,
4.0%, 6/15/39 3,166
4,870 Government National Mortgage Association I,
4.0%, 8/15/40 5,174
216,925 Government National Mortgage Association I,
4.0%, 8/15/40 226,262
5,173 Government National Mortgage Association I,
4.0%, 9/15/40 5,497
92,830 Government National Mortgage Association I,
4.0%, 9/15/40 96,826
5,029 Government National Mortgage Association I,
4.0%, 10/15/40 5,343
5,869 Government National Mortgage Association I,
4.0%, 11/15/40 6,121
30,739 Government National Mortgage Association I,
4.0%, 11/15/40 32,359
15,368 Government National Mortgage Association I,
4.0%, 1/15/41 16,331
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 67
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
51,092 Government National Mortgage Association I,
4.0%, 1/15/41 $ 54,290
7,569 Government National Mortgage Association I,
4.0%, 2/15/41 8,043
47,012 Government National Mortgage Association I,
4.0%, 6/15/41 49,900
110,684 Government National Mortgage Association I,
4.0%, 7/15/41 117,624
2,108 Government National Mortgage Association I,
4.0%, 9/15/41 2,199
294,312 Government National Mortgage Association I,
4.0%, 9/15/41 312,702
5,300 Government National Mortgage Association I,
4.0%, 10/15/41 5,529
6,100 Government National Mortgage Association I,
4.0%, 10/15/41 6,417
3,072 Government National Mortgage Association I,
4.0%, 11/15/41 3,232
3,131 Government National Mortgage Association I,
4.0%, 11/15/41 3,266
5,002 Government National Mortgage Association I,
4.0%, 12/15/41 5,314
18,006 Government National Mortgage Association I,
4.0%, 2/15/42 19,113
204,932 Government National Mortgage Association I,
4.0%, 2/15/42 213,753
947,066 Government National Mortgage Association I,
4.0%, 8/15/43 1,006,066
18,576 Government National Mortgage Association I,
4.0%, 11/15/43 19,534
8,511 Government National Mortgage Association I,
4.0%, 3/15/44 8,956
135,050 Government National Mortgage Association I,
4.0%, 3/15/44 141,272
536,513 Government National Mortgage Association I,
4.0%, 3/15/44 569,833
3,072,006 Government National Mortgage Association I,
4.0%, 3/15/44 3,263,417
3,291 Government National Mortgage Association I,
4.0%, 4/15/44 3,433
21,091 Government National Mortgage Association I,
4.0%, 4/15/44 22,401
2,127,686 Government National Mortgage Association I,
4.0%, 4/15/44 2,259,816
307,310 Government National Mortgage Association I,
4.0%, 8/15/44 326,465
The accompanying notes are an integral part of these financial statements.
68 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
56,125 Government National Mortgage Association I,
4.0%, 9/15/44 $ 59,623
189,720 Government National Mortgage Association I,
4.0%, 9/15/44 199,701
209,920 Government National Mortgage Association I,
4.0%, 9/15/44 219,878
381,526 Government National Mortgage Association I,
4.0%, 9/15/44 401,469
1,953,366 Government National Mortgage Association I,
4.0%, 9/15/44 2,075,196
75,347 Government National Mortgage Association I,
4.0%, 10/15/44 78,843
348,942 Government National Mortgage Association I,
4.0%, 11/15/44 367,202
1,585,567 Government National Mortgage Association I,
4.0%, 12/15/44 1,668,901
355,626 Government National Mortgage Association I,
4.0%, 1/15/45 377,678
1,102,686 Government National Mortgage Association I,
4.0%, 1/15/45 1,170,612
1,125,039 Government National Mortgage Association I,
4.0%, 1/15/45 1,184,104
1,783,017 Government National Mortgage Association I,
4.0%, 1/15/45 1,876,326
768,701 Government National Mortgage Association I,
4.0%, 2/15/45 808,662
1,293,622 Government National Mortgage Association I,
4.0%, 2/15/45 1,361,357
90,260 Government National Mortgage Association I,
4.0%, 3/15/45 94,145
1,486,313 Government National Mortgage Association I,
4.0%, 3/15/45 1,564,245
2,723,714 Government National Mortgage Association I,
4.0%, 4/15/45 2,893,025
1,372,034 Government National Mortgage Association I,
4.0%, 5/15/45 1,457,393
3,750,987 Government National Mortgage Association I,
4.0%, 6/15/45 3,983,956
576,738 Government National Mortgage Association I,
4.0%, 7/15/45 612,596
542,305 Government National Mortgage Association I,
4.0%, 8/15/45 576,066
138 Government National Mortgage Association I,
4.5%, 8/15/19 138
1,681 Government National Mortgage Association I,
4.5%, 12/15/19 1,700
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 69
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
146,012 Government National Mortgage Association I,
4.5%, 6/15/25 $ 150,451
40,315 Government National Mortgage Association I,
4.5%, 7/15/33 42,918
134,247 Government National Mortgage Association I,
4.5%, 9/15/33 144,181
134,991 Government National Mortgage Association I,
4.5%, 10/15/33 142,272
142,380 Government National Mortgage Association I,
4.5%, 10/15/33 152,061
21,297 Government National Mortgage Association I,
4.5%, 2/15/34 22,548
14,873 Government National Mortgage Association I,
4.5%, 3/15/35 15,680
50,756 Government National Mortgage Association I,
4.5%, 3/15/35 53,521
19,317 Government National Mortgage Association I,
4.5%, 4/15/35 20,368
133,092 Government National Mortgage Association I,
4.5%, 4/15/35 141,927
5,338 Government National Mortgage Association I,
4.5%, 9/15/35 5,627
70,725 Government National Mortgage Association I,
4.5%, 10/15/35 75,306
45,832 Government National Mortgage Association I,
4.5%, 4/15/38 48,304
798,902 Government National Mortgage Association I,
4.5%, 12/15/39 860,160
291,965 Government National Mortgage Association I,
4.5%, 1/15/40 314,788
172,223 Government National Mortgage Association I,
4.5%, 9/15/40 185,633
656,195 Government National Mortgage Association I,
4.5%, 10/15/40 707,218
349,685 Government National Mortgage Association I,
4.5%, 4/15/41 375,707
715,841 Government National Mortgage Association I,
4.5%, 5/15/41 771,165
705,724 Government National Mortgage Association I,
4.5%, 6/15/41 759,990
238,126 Government National Mortgage Association I,
4.5%, 7/15/41 256,532
722,200 Government National Mortgage Association I,
4.5%, 8/15/41 778,014
134 Government National Mortgage Association I,
5.0%, 7/15/19 135
49,985 Government National Mortgage Association I,
5.0%, 7/15/33 54,122
The accompanying notes are an integral part of these financial statements.
70 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
52,723 Government National Mortgage Association I,
5.0%, 9/15/33 $ 57,194
55,463 Government National Mortgage Association I,
5.0%, 4/15/34 60,168
322,848 Government National Mortgage Association I,
5.0%, 4/15/35 350,253
139,713 Government National Mortgage Association I,
5.0%, 7/15/40 153,686
280 Government National Mortgage Association I,
5.5%, 8/15/19 280
1,307 Government National Mortgage Association I,
5.5%, 10/15/19 1,307
6,998 Government National Mortgage Association I,
5.5%, 11/15/19 7,000
43,201 Government National Mortgage Association I,
5.5%, 1/15/29 46,002
9,074 Government National Mortgage Association I,
5.5%, 6/15/33 9,907
46,523 Government National Mortgage Association I,
5.5%, 7/15/33 52,466
47,289 Government National Mortgage Association I,
5.5%, 7/15/33 53,271
13,820 Government National Mortgage Association I,
5.5%, 8/15/33 15,578
22,136 Government National Mortgage Association I,
5.5%, 8/15/33 24,947
115,723 Government National Mortgage Association I,
5.5%, 8/15/33 130,040
38,987 Government National Mortgage Association I,
5.5%, 9/15/33 41,670
40,280 Government National Mortgage Association I,
5.5%, 9/15/33 42,892
31,583 Government National Mortgage Association I,
5.5%, 10/15/33 33,733
42,234 Government National Mortgage Association I,
5.5%, 10/15/33 47,562
234,946 Government National Mortgage Association I,
5.5%, 7/15/34 265,064
21,909 Government National Mortgage Association I,
5.5%, 10/15/34 23,949
279,681 Government National Mortgage Association I,
5.5%, 11/15/34 314,280
96,451 Government National Mortgage Association I,
5.5%, 1/15/35 108,585
17,421 Government National Mortgage Association I,
5.5%, 2/15/35 19,009
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 71
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
35,721 Government National Mortgage Association I,
5.5%, 2/15/35 $ 38,045
28,985 Government National Mortgage Association I,
5.5%, 6/15/35 30,875
325,710 Government National Mortgage Association I,
5.5%, 7/15/35 366,212
31,572 Government National Mortgage Association I,
5.5%, 10/15/35 33,964
108,998 Government National Mortgage Association I,
5.5%, 10/15/35 122,403
27,350 Government National Mortgage Association I,
5.5%, 2/15/37 30,725
5,757 Government National Mortgage Association I,
5.72%, 4/15/29 6,183
986 Government National Mortgage Association I,
6.0%, 9/15/19 984
79,584 Government National Mortgage Association I,
6.0%, 12/15/23 84,683
6,602 Government National Mortgage Association I,
6.0%, 1/15/24 7,221
26,300 Government National Mortgage Association I,
6.0%, 4/15/28 29,507
112,426 Government National Mortgage Association I,
6.0%, 9/15/28 124,391
5,551 Government National Mortgage Association I,
6.0%, 10/15/28 6,116
45,906 Government National Mortgage Association I,
6.0%, 2/15/29 51,557
52,232 Government National Mortgage Association I,
6.0%, 2/15/29 57,766
24,511 Government National Mortgage Association I,
6.0%, 6/15/31 26,811
14,147 Government National Mortgage Association I,
6.0%, 11/15/31 16,048
940 Government National Mortgage Association I,
6.0%, 3/15/32 1,069
4,512 Government National Mortgage Association I,
6.0%, 8/15/32 5,088
51,078 Government National Mortgage Association I,
6.0%, 9/15/32 56,364
83,041 Government National Mortgage Association I,
6.0%, 9/15/32 90,876
116,874 Government National Mortgage Association I,
6.0%, 9/15/32 128,012
5,913 Government National Mortgage Association I,
6.0%, 10/15/32 6,468
The accompanying notes are an integral part of these financial statements.
72 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
22,543 Government National Mortgage Association I,
6.0%, 10/15/32 $ 24,749
5,771 Government National Mortgage Association I,
6.0%, 11/15/32 6,316
6,182 Government National Mortgage Association I,
6.0%, 11/15/32 6,765
7,559 Government National Mortgage Association I,
6.0%, 12/15/32 8,319
8,109 Government National Mortgage Association I,
6.0%, 12/15/32 8,982
49,151 Government National Mortgage Association I,
6.0%, 12/15/32 53,783
107,625 Government National Mortgage Association I,
6.0%, 12/15/32 117,823
148,887 Government National Mortgage Association I,
6.0%, 12/15/32 163,171
158,213 Government National Mortgage Association I,
6.0%, 12/15/32 173,335
262,623 Government National Mortgage Association I,
6.0%, 12/15/32 289,637
18,194 Government National Mortgage Association I,
6.0%, 1/15/33 19,901
31,092 Government National Mortgage Association I,
6.0%, 1/15/33 34,813
106,578 Government National Mortgage Association I,
6.0%, 1/15/33 121,570
19,608 Government National Mortgage Association I,
6.0%, 2/15/33 22,232
63,314 Government National Mortgage Association I,
6.0%, 2/15/33 69,828
67,812 Government National Mortgage Association I,
6.0%, 2/15/33 77,099
85,260 Government National Mortgage Association I,
6.0%, 2/15/33 94,676
27,998 Government National Mortgage Association I,
6.0%, 3/15/33 30,653
39,034 Government National Mortgage Association I,
6.0%, 3/15/33 44,274
70,212 Government National Mortgage Association I,
6.0%, 3/15/33 76,961
68,180 Government National Mortgage Association I,
6.0%, 3/15/33 77,780
75,560 Government National Mortgage Association I,
6.0%, 3/15/33 86,187
93,744 Government National Mortgage Association I,
6.0%, 3/15/33 106,948
158,379 Government National Mortgage Association I,
6.0%, 3/15/33 180,544
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 73
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
268,494 Government National Mortgage Association I,
6.0%, 3/15/33 $ 305,374
13,351 Government National Mortgage Association I,
6.0%, 4/15/33 14,604
15,052 Government National Mortgage Association I,
6.0%, 4/15/33 16,464
31,928 Government National Mortgage Association I,
6.0%, 4/15/33 35,066
16,943 Government National Mortgage Association I,
6.0%, 5/15/33 18,537
100,723 Government National Mortgage Association I,
6.0%, 5/15/33 112,294
7,263 Government National Mortgage Association I,
6.0%, 6/15/33 8,064
12,226 Government National Mortgage Association I,
6.0%, 9/15/33 13,620
13,685 Government National Mortgage Association I,
6.0%, 9/15/33 14,978
39,850 Government National Mortgage Association I,
6.0%, 9/15/33 45,441
35,576 Government National Mortgage Association I,
6.0%, 10/15/33 40,321
89,206 Government National Mortgage Association I,
6.0%, 11/15/33 97,727
161,855 Government National Mortgage Association I,
6.0%, 3/15/34 184,020
37,384 Government National Mortgage Association I,
6.0%, 6/15/34 42,639
27,135 Government National Mortgage Association I,
6.0%, 8/15/34 30,957
42,395 Government National Mortgage Association I,
6.0%, 8/15/34 46,374
20,813 Government National Mortgage Association I,
6.0%, 9/15/34 23,666
35,452 Government National Mortgage Association I,
6.0%, 9/15/34 38,818
98,082 Government National Mortgage Association I,
6.0%, 9/15/34 111,431
43,128 Government National Mortgage Association I,
6.0%, 10/15/34 47,192
45,251 Government National Mortgage Association I,
6.0%, 10/15/34 49,539
94,736 Government National Mortgage Association I,
6.0%, 10/15/34 103,683
87,278 Government National Mortgage Association I,
6.0%, 11/15/34 97,501
560,786 Government National Mortgage Association I,
6.0%, 9/15/35 639,057
The accompanying notes are an integral part of these financial statements.
74 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
149,135 Government National Mortgage Association I,
6.0%, 8/15/36 $ 170,325
101,626 Government National Mortgage Association I,
6.0%, 10/15/36 116,053
32,155 Government National Mortgage Association I,
6.0%, 11/15/37 36,720
30,781 Government National Mortgage Association I,
6.0%, 8/15/38 35,078
12,131 Government National Mortgage Association I,
6.5%, 10/15/24 13,062
2,111 Government National Mortgage Association I,
6.5%, 2/15/28 2,319
5,872 Government National Mortgage Association I,
6.5%, 4/15/28 6,451
31,270 Government National Mortgage Association I,
6.5%, 4/15/28 34,353
6,125 Government National Mortgage Association I,
6.5%, 6/15/28 6,935
5,203 Government National Mortgage Association I,
6.5%, 8/15/28 5,716
2,228 Government National Mortgage Association I,
6.5%, 10/15/28 2,448
12,377 Government National Mortgage Association I,
6.5%, 10/15/28 13,597
19,598 Government National Mortgage Association I,
6.5%, 1/15/29 21,530
886 Government National Mortgage Association I,
6.5%, 2/15/29 973
4,234 Government National Mortgage Association I,
6.5%, 2/15/29 4,652
10,850 Government National Mortgage Association I,
6.5%, 2/15/29 11,934
4,059 Government National Mortgage Association I,
6.5%, 3/15/29 4,459
4,746 Government National Mortgage Association I,
6.5%, 3/15/29 5,214
6,028 Government National Mortgage Association I,
6.5%, 3/15/29 6,622
15,535 Government National Mortgage Association I,
6.5%, 3/15/29 17,067
66,016 Government National Mortgage Association I,
6.5%, 3/15/29 72,526
1,588 Government National Mortgage Association I,
6.5%, 5/15/29 1,745
3,011 Government National Mortgage Association I,
6.5%, 5/15/29 3,308
40,630 Government National Mortgage Association I,
6.5%, 5/15/29 46,167
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 75
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
21,746 Government National Mortgage Association I,
6.5%, 6/15/29 $ 23,891
38,866 Government National Mortgage Association I,
6.5%, 4/15/31 44,644
10,662 Government National Mortgage Association I,
6.5%, 5/15/31 12,270
11,508 Government National Mortgage Association I,
6.5%, 5/15/31 13,369
34,780 Government National Mortgage Association I,
6.5%, 5/15/31 38,210
5,645 Government National Mortgage Association I,
6.5%, 6/15/31 6,223
11,790 Government National Mortgage Association I,
6.5%, 7/15/31 12,953
30,330 Government National Mortgage Association I,
6.5%, 8/15/31 33,320
16,149 Government National Mortgage Association I,
6.5%, 9/15/31 17,741
4,325 Government National Mortgage Association I,
6.5%, 10/15/31 4,751
12,197 Government National Mortgage Association I,
6.5%, 10/15/31 13,399
52,787 Government National Mortgage Association I,
6.5%, 10/15/31 57,992
2,670 Government National Mortgage Association I,
6.5%, 11/15/31 2,933
39,634 Government National Mortgage Association I,
6.5%, 11/15/31 43,542
16,345 Government National Mortgage Association I,
6.5%, 1/15/32 17,957
70,416 Government National Mortgage Association I,
6.5%, 1/15/32 80,108
7,523 Government National Mortgage Association I,
6.5%, 2/15/32 8,326
11,522 Government National Mortgage Association I,
6.5%, 2/15/32 13,060
14,612 Government National Mortgage Association I,
6.5%, 2/15/32 17,064
18,495 Government National Mortgage Association I,
6.5%, 2/15/32 20,319
26,054 Government National Mortgage Association I,
6.5%, 2/15/32 30,288
9,424 Government National Mortgage Association I,
6.5%, 3/15/32 10,353
71,005 Government National Mortgage Association I,
6.5%, 3/15/32 79,213
4,246 Government National Mortgage Association I,
6.5%, 4/15/32 4,664
The accompanying notes are an integral part of these financial statements.
76 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
8,033 Government National Mortgage Association I,
6.5%, 4/15/32 $ 8,925
8,407 Government National Mortgage Association I,
6.5%, 4/15/32 9,247
48,711 Government National Mortgage Association I,
6.5%, 4/15/32 56,209
3,238 Government National Mortgage Association I,
6.5%, 5/15/32 3,557
4,906 Government National Mortgage Association I,
6.5%, 5/15/32 5,389
8,096 Government National Mortgage Association I,
6.5%, 5/15/32 9,340
8,483 Government National Mortgage Association I,
6.5%, 5/15/32 9,378
8,366 Government National Mortgage Association I,
6.5%, 6/15/32 9,191
9,305 Government National Mortgage Association I,
6.5%, 6/15/32 10,223
9,221 Government National Mortgage Association I,
6.5%, 6/15/32 10,260
8,045 Government National Mortgage Association I,
6.5%, 7/15/32 8,839
9,128 Government National Mortgage Association I,
6.5%, 7/15/32 10,028
94,317 Government National Mortgage Association I,
6.5%, 7/15/32 110,411
3,465 Government National Mortgage Association I,
6.5%, 8/15/32 3,823
27,571 Government National Mortgage Association I,
6.5%, 8/15/32 32,275
39,795 Government National Mortgage Association I,
6.5%, 8/15/32 44,311
14,368 Government National Mortgage Association I,
6.5%, 9/15/32 16,458
33,478 Government National Mortgage Association I,
6.5%, 9/15/32 36,780
35,496 Government National Mortgage Association I,
6.5%, 9/15/32 39,572
38,154 Government National Mortgage Association I,
6.5%, 10/15/32 41,916
36,234 Government National Mortgage Association I,
6.5%, 11/15/32 42,253
224,694 Government National Mortgage Association I,
6.5%, 12/15/32 263,430
2,444 Government National Mortgage Association I,
6.5%, 1/15/33 2,818
245,082 Government National Mortgage Association I,
6.5%, 1/15/33 287,058
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 77
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
28,102 Government National Mortgage Association I,
6.5%, 5/15/33 $ 30,925
1,490 Government National Mortgage Association I,
6.5%, 10/15/33 1,649
1,872 Government National Mortgage Association I,
6.5%, 2/15/34 2,057
102,717 Government National Mortgage Association I,
6.5%, 6/15/34 113,662
3,721 Government National Mortgage Association I,
6.5%, 9/15/34 4,088
37,272 Government National Mortgage Association I,
6.5%, 4/15/35 40,948
6,001 Government National Mortgage Association I,
6.5%, 6/15/35 6,593
16,840 Government National Mortgage Association I,
6.5%, 7/15/35 18,500
60,035 Government National Mortgage Association I,
6.5%, 7/15/35 65,955
867 Government National Mortgage Association I,
6.75%, 4/15/26 952
10,955 Government National Mortgage Association I,
7.0%, 8/15/23 11,460
34,087 Government National Mortgage Association I,
7.0%, 9/15/24 36,826
13,240 Government National Mortgage Association I,
7.0%, 7/15/25 14,175
5,184 Government National Mortgage Association I,
7.0%, 11/15/26 5,733
12,889 Government National Mortgage Association I,
7.0%, 6/15/27 14,389
15,072 Government National Mortgage Association I,
7.0%, 1/15/28 16,419
9,589 Government National Mortgage Association I,
7.0%, 2/15/28 10,348
11,054 Government National Mortgage Association I,
7.0%, 3/15/28 11,236
4,501 Government National Mortgage Association I,
7.0%, 4/15/28 4,508
10,902 Government National Mortgage Association I,
7.0%, 7/15/28 12,022
909 Government National Mortgage Association I,
7.0%, 8/15/28 1,017
11,270 Government National Mortgage Association I,
7.0%, 11/15/28 12,975
30,165 Government National Mortgage Association I,
7.0%, 11/15/28 34,369
19,775 Government National Mortgage Association I,
7.0%, 4/15/29 20,260
The accompanying notes are an integral part of these financial statements.
78 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
21,956 Government National Mortgage Association I,
7.0%, 4/15/29 $ 23,610
20,344 Government National Mortgage Association I,
7.0%, 5/15/29 20,666
2,924 Government National Mortgage Association I,
7.0%, 6/15/29 2,929
7,052 Government National Mortgage Association I,
7.0%, 7/15/29 7,840
39,173 Government National Mortgage Association I,
7.0%, 11/15/29 42,999
1,771 Government National Mortgage Association I,
7.0%, 12/15/30 1,797
5,566 Government National Mortgage Association I,
7.0%, 12/15/30 5,766
25,208 Government National Mortgage Association I,
7.0%, 12/15/30 29,270
34,657 Government National Mortgage Association I,
7.0%, 12/15/30 35,049
38,854 Government National Mortgage Association I,
7.0%, 1/15/31 39,203
4,810 Government National Mortgage Association I,
7.0%, 3/15/31 4,892
18,742 Government National Mortgage Association I,
7.0%, 6/15/31 22,061
2,292 Government National Mortgage Association I,
7.0%, 7/15/31 2,685
102,611 Government National Mortgage Association I,
7.0%, 8/15/31 120,697
10,572 Government National Mortgage Association I,
7.0%, 9/15/31 10,993
27,326 Government National Mortgage Association I,
7.0%, 9/15/31 30,375
7,419 Government National Mortgage Association I,
7.0%, 11/15/31 7,706
44,939 Government National Mortgage Association I,
7.0%, 3/15/32 49,871
33,625 Government National Mortgage Association I,
7.0%, 4/15/32 37,221
68,720 Government National Mortgage Association I,
7.0%, 5/15/32 82,024
3,325 Government National Mortgage Association I,
7.5%, 3/15/23 3,441
19,526 Government National Mortgage Association I,
7.5%, 10/15/23 20,667
1,101 Government National Mortgage Association I,
7.5%, 6/15/24 1,115
7,650 Government National Mortgage Association I,
7.5%, 8/15/25 7,721
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 79
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
3,372 Government National Mortgage Association I,
7.5%, 9/15/25 $ 3,623
3,141 Government National Mortgage Association I,
7.5%, 12/15/25 3,192
8,786 Government National Mortgage Association I,
7.5%, 2/15/27 9,530
22,151 Government National Mortgage Association I,
7.5%, 3/15/27 25,180
33,010 Government National Mortgage Association I,
7.5%, 10/15/27 36,476
13,576 Government National Mortgage Association I,
7.5%, 6/15/29 15,001
2,439 Government National Mortgage Association I,
7.5%, 8/15/29 2,467
7,331 Government National Mortgage Association I,
7.5%, 8/15/29 7,397
14,620 Government National Mortgage Association I,
7.5%, 9/15/29 14,649
2,015 Government National Mortgage Association I,
7.5%, 10/15/29 2,034
5,220 Government National Mortgage Association I,
7.5%, 10/15/29 5,369
13,031 Government National Mortgage Association I,
7.5%, 2/15/31 13,147
14,408 Government National Mortgage Association I,
7.5%, 2/15/31 14,775
6,474 Government National Mortgage Association I,
7.5%, 3/15/31 6,628
39,910 Government National Mortgage Association I,
7.5%, 12/15/31 41,401
1,989 Government National Mortgage Association I,
7.75%, 2/15/30 2,011
114 Government National Mortgage Association I,
8.25%, 5/15/20 114
838 Government National Mortgage Association I,
8.5%, 8/15/21 840
51 Government National Mortgage Association I,
9.0%, 12/15/19 51
57 Government National Mortgage Association I,
9.0%, 9/15/21 58
1,147 Government National Mortgage Association I,
9.0%, 6/15/22 1,161
524,742 Government National Mortgage Association II,
3.5%, 3/20/45 542,280
493,423 Government National Mortgage Association II,
3.5%, 4/20/45 510,609
The accompanying notes are an integral part of these financial statements.
80 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
767,960 Government National Mortgage Association II,
3.5%, 4/20/45 $ 793,178
1,084,928 Government National Mortgage Association II,
3.5%, 4/20/45 1,122,316
1,401,838 Government National Mortgage Association II,
3.5%, 3/20/46 1,452,721
5,935,931 Government National Mortgage Association II,
4.0%, 7/20/44 6,258,963
161,046 Government National Mortgage Association II,
4.0%, 9/20/44 169,816
1,389,564 Government National Mortgage Association II,
4.0%, 10/20/44 1,459,732
5,384,522 Government National Mortgage Association II,
4.0%, 10/20/46 5,649,244
1,923,848 Government National Mortgage Association II,
4.0%, 2/20/48 2,028,507
1,953,478 Government National Mortgage Association II,
4.0%, 4/20/48 2,060,187
49,965 Government National Mortgage Association II,
4.5%, 12/20/34 52,545
188,358 Government National Mortgage Association II,
4.5%, 1/20/35 197,566
31,548 Government National Mortgage Association II,
4.5%, 3/20/35 33,151
938,677 Government National Mortgage Association II,
4.5%, 9/20/41 1,001,495
4,911,835 Government National Mortgage Association II,
4.5%, 9/20/44 5,129,005
1,367,522 Government National Mortgage Association II,
4.5%, 10/20/44 1,450,754
2,831,962 Government National Mortgage Association II,
4.5%, 11/20/44 3,003,914
6,906,837 Government National Mortgage Association II,
4.5%, 2/20/48 7,257,630
1,150 Government National Mortgage Association II,
5.0%, 1/20/20 1,177
1,690 Government National Mortgage Association II,
5.5%, 10/20/19 1,689
137,565 Government National Mortgage Association II,
5.5%, 3/20/34 150,561
117,029 Government National Mortgage Association II,
5.5%, 4/20/34 128,057
87,609 Government National Mortgage Association II,
5.5%, 10/20/37 93,198
65,001 Government National Mortgage Association II,
5.75%, 6/20/33 69,460
22,233 Government National Mortgage Association II,
5.9%, 1/20/28 23,928
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 81
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
53,624 Government National Mortgage Association II,
5.9%, 7/20/28 $ 57,302
12,996 Government National Mortgage Association II,
6.0%, 10/20/31 14,739
64,188 Government National Mortgage Association II,
6.0%, 1/20/33 73,628
69,783 Government National Mortgage Association II,
6.0%, 10/20/33 79,993
39,790 Government National Mortgage Association II,
6.0%, 6/20/34 45,623
44,018 Government National Mortgage Association II,
6.45%, 7/20/32 47,356
76,954 Government National Mortgage Association II,
6.45%, 1/20/33 82,788
12,449 Government National Mortgage Association II,
6.5%, 1/20/24 12,981
28,919 Government National Mortgage Association II,
6.5%, 8/20/28 32,762
1,353 Government National Mortgage Association II,
6.5%, 2/20/29 1,548
544 Government National Mortgage Association II,
6.5%, 3/20/29 620
16,507 Government National Mortgage Association II,
6.5%, 4/20/29 18,783
9,156 Government National Mortgage Association II,
6.5%, 4/20/31 10,638
6,347 Government National Mortgage Association II,
6.5%, 6/20/31 7,380
29,597 Government National Mortgage Association II,
6.5%, 10/20/32 34,677
42,098 Government National Mortgage Association II,
6.5%, 3/20/34 49,790
4,596 Government National Mortgage Association II,
7.0%, 5/20/26 5,036
12,421 Government National Mortgage Association II,
7.0%, 8/20/27 14,083
14,077 Government National Mortgage Association II,
7.0%, 6/20/28 16,104
46,189 Government National Mortgage Association II,
7.0%, 11/20/28 52,922
48,743 Government National Mortgage Association II,
7.0%, 1/20/29 55,985
4,721 Government National Mortgage Association II,
7.0%, 2/20/29 5,414
1,369 Government National Mortgage Association II,
7.0%, 12/20/30 1,583
7,082 Government National Mortgage Association II,
7.0%, 1/20/31 8,314
The accompanying notes are an integral part of these financial statements.
82 Pioneer Bond Fund | Annual Report | 6/30/19
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY OBLIGATIONS --
(continued)
3,575 Government National Mortgage Association II,
7.0%, 3/20/31 $ 4,200
19,794 Government National Mortgage Association II,
7.0%, 7/20/31 23,313
7,691 Government National Mortgage Association II,
7.0%, 11/20/31 9,094
8,076 Government National Mortgage Association II,
7.5%, 5/20/30 9,430
2,513 Government National Mortgage Association II,
7.5%, 6/20/30 2,937
5,876 Government National Mortgage Association II,
7.5%, 7/20/30 6,724
8,359 Government National Mortgage Association II,
7.5%, 8/20/30 9,974
4,250 Government National Mortgage Association II,
7.5%, 12/20/30 5,083
14 Government National Mortgage Association II,
8.0%, 5/20/25 15
1,372 Government National Mortgage Association II,
9.0%, 3/20/22 1,376
186 Government National Mortgage Association II,
9.0%, 4/20/22 186
1,811 Government National Mortgage Association II,
9.0%, 11/20/24 1,816
480,857 Tennessee Valley Authority, 4.929%, 1/15/21 496,617
25,000,000(k) U.S. Treasury Bills, 7/2/19 24,998,653
65,000,000(k) U.S. Treasury Bills, 7/9/19 64,972,050
20,000,000(k) U.S. Treasury Bills, 7/16/19 19,982,927
100,000,000(k) U.S. Treasury Bills, 7/23/19 99,873,795
51,545,000 U.S. Treasury Bonds, 3.0%, 2/15/49 56,610,907
14,000,000 U.S. Treasury Bonds, 3.125%, 5/15/48 15,709,531
29,957,222 U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 29,632,795
63,904,804 U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 65,108,752
75,738,365 U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46 79,351,714
64,121,063 U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/48 67,451,797
51,985,149 U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/49 54,984,410
18,575,000 U.S. Treasury Notes, 2.25%, 4/30/24 18,996,565
15,488,000 U.S. Treasury Notes, 2.625%, 2/15/29 16,332,580
12,430,000 U.S. Treasury Notes, 2.875%, 5/15/28 13,347,198
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS
(Cost $1,766,605,827) $1,785,996,247
-----------------------------------------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 83
Schedule of Investments | 6/30/19 (continued)
-----------------------------------------------------------------------------------------------------------------------------------
Principal
Amount
USD ($) Value
-----------------------------------------------------------------------------------------------------------------------------------
TEMPORARY CASH INVESTMENTS -- 0.8%
of Net Assets
REPURCHASE AGREEMENTS -- 0.8%
14,400,000 $14,400,000 RBC Capital Markets LLC, 2.48%,
dated 6/28/19 plus accrued interest on 7/1/19
collateralized by the following:
$7,012,124 Federal National Mortgage Association,
3.0% -- 4.0%, 11/1/32 -- 11/1/48
$7,674,667 Freddie Mac Giant, 3.5% -- 4.5%,
2/1/44 -- 3/1/49
$4,245 Government National Mortgage
Association, 4.0%, 10/15/47 $ 14,400,000
16,230,000 $16,230,000 ScotiaBank, 2.45%, dated 6/28/19
plus accrued interest on 7/1/19 collateralized by
the following:
$158,130 Federal National Mortgage Association,
2.5% -- 6.4%, 2/1/21 -- 5/1/48
$16,388,309 Freddie Mac Giant, 3.0% -- 4.5%,
11/1/48 -- 6/1/49
$11,548 U.S. Treasury Notes, 2.0%, 5/31/24 16,230,000
8,670,000 $8,670,000 TD Securities USA LLC, 2.49%,
dated 6/28/19 plus accrued interest on
7/1/19 collateralized by $8,843,457 U.S. Treasury
Notes, 2.6%, 6/15/21 8,670,000
7,580,000 $7,580,000 TD Securities USA LLC, 2.51%,
dated 6/28/19 plus accrued interest on 7/1/19
collateralized by $7,731,601 Freddie Mac Giant,
4.0%, 10/1/48 7,580,000
--------------
$ 46,880,000
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $46,880,000) $ 46,880,000
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS IN UNAFFILIATED
ISSUERS -- 100.4%
(Cost $5,476,178,527) $5,591,361,911
-----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS AND LIABILITIES -- (0.4)% $ (22,999,642)
-----------------------------------------------------------------------------------------------------------------------------------
NET ASSETS -- 100.0% $5,568,362,269
===================================================================================================================================
bps Basis Points.
FREMF Freddie Mac Multifamily Fixed-Rate Mortgage Loans.
FRESB Freddie Mac Multifamily Small Balance Certificates.
ICE Intercontinental Exchange.
LIBOR London Interbank Offered Rate.
PRIME U.S. Federal Funds Rate.
REIT Real Estate Investment Trust.
REMICS Real Estate Mortgage Investment Conduits.
ZERO Zero Constant Index.
The accompanying notes are an integral part of these financial statements.
84 Pioneer Bond Fund | Annual Report | 6/30/19
(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, 2019, the value of these securities amounted to
$2,045,107,678, or 36.7% of net assets.
(TBA) "To Be Announced" Securities.
+ Amount rounds to less than 0.1%.
* Senior secured floating rate loan interests in which the Fund invests
generally pay interest at rates that are periodically redetermined by
reference to a base lending rate plus a premium. These base lending
rates are generally (i) the lending rate offered by one or more major
European banks, such as LIBOR, (ii) the prime rate offered by one or
more major United States banks, (iii) the rate of a certificate of
deposit or (iv) other base lending rates used by commercial lenders.
The interest rate shown is the rate accruing at June 30, 2019.
+ Security that used significant unobservable inputs to determine their
value.
(a) Security is perpetual in nature and has no stated maturity date.
(b) Floating rate note. Coupon rate, reference index and spread shown at
June 30, 2019.
(c) The interest rate is subject to change periodically. The interest rate
and/or reference index and spread is shown at June 30, 2019.
(d) Debt obligation initially issued at one coupon which converts to a
higher coupon at a specific date. The rate shown is the rate at June
30, 2019.
(e) Security represents the interest-only portion payments on a pool of
underlying mortgages or mortgage-backed securities.
(f) Securities are restricted as to resale.
(g) Non-income producing security.
(h) Issued as participation notes.
(i) Issued as preference shares.
(j) Consists of Revenue Bonds unless otherwise indicated.
(k) Security issued with a zero coupon. Income is recognized through
accretion of discount.
FUTURES CONTRACTS
FIXED INCOME INTEREST RATE FUTURES CONTRACTS
----------------------------------------------------------------------------------------
Number of
Contracts Expiration Notional Unrealized
Long Description Date Amount Market Value Appreciation
----------------------------------------------------------------------------------------
1,062 U.S. 2 Year 9/30/19 $227,078,922 $228,520,829 $1,441,907
Note (CBT)
3,394 U.S. 5 Year 9/30/19 396,912,391 401,022,313 4,109,922
Note (CBT)
263 U.S. Ultra 9/19/19 45,612,008 46,698,938 1,086,930
Bond (CBT)
----------------------------------------------------------------------------------------
$669,603,321 $676,242,080 $6,638,759
========================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 85
Schedule of Investments | 6/30/19 (continued)
---------------------------------------------------------------------------------------
Number of
Contracts Expiration Notional Unrealized
Short Description Date Amount Market Value (Depreciation)
---------------------------------------------------------------------------------------
1,457 U.S. 10 Year 9/19/19 $183,725,953 $186,450,469 $(2,724,516)
Note (CBT)
1,178 U.S. 10 Year 9/19/19 159,711,031 162,711,250 (3,000,219)
Ultra
342 U.S. Long 9/19/19 52,102,860 53,213,063 (1,110,203)
Bond (CBT)
---------------------------------------------------------------------------------------
$395,539,844 $402,374,782 $(6,834,938)
---------------------------------------------------------------------------------------
TOTAL FUTURES CONTRACTS $274,063,477 $273,867,298 $ (196,179)
=======================================================================================
SWAP CONTRACTS
OVER THE COUNTER (OTC) CREDIT DEFAULT SWAP CONTRACTS -- SELL PROTECTION
----------------------------------------------------------------------------------------------------------------------
Obligation Annual
Notional Reference/ Pay/ Fixed Expiration Premiums Unrealized Market
Amount ($)(1) Counterparty Index Receive(2) Rate Date (Received) Appreciation Value
----------------------------------------------------------------------------------------------------------------------
3,979,000 JPMorgan Chase Simon Receive 1.00% 6/20/22 $(13,137) $102,350 $ 89,213
Bank NA Property
Group LP
2,851,000 JPMorgan Chase Simon Receive 1.00% 6/20/22 (8,072) 71,993 63,921
Bank NA Property
Group LP
----------------------------------------------------------------------------------------------------------------------
TOTAL OVER THE COUNTER (OTC) CREDIT DEFAULT SWAP CONTRACTS --
SELL PROTECTION $(21,209) $174,343 $153,134
----------------------------------------------------------------------------------------------------------------------
TOTAL SWAP CONTRACTS $(21,209) $174,343 $153,134
======================================================================================================================
(1) The notional amount is the maximum amount that a seller of credit
protection would be obligated to pay upon occurrence of a credit event.
(2) Receives Quarterly.
Purchases and sales of securities (excluding temporary cash investments) for
the year ended June 30, 2019, were as follows:
---------------------------------------------------------------------------------------------------------
Purchases Sales
---------------------------------------------------------------------------------------------------------
Long-Term U.S. Government Securities $ 501,191,019 $ 491,715,593
Other Long-Term Securities $2,250,249,529 $2,074,656,817
The Fund is permitted to engage in purchase and sale transactions ("cross
trades") with certain funds and accounts for which Amundi Pioneer Asset
Management, Inc., (the "Adviser") serves as the Fund's investment adviser, as
set forth in Rule 17a-7 under the Investment Company Act of 1940, pursuant to
procedures adopted by the Board of Trustees. Under these procedures, cross
trades are effected at current market prices. During the year ended June 30,
2019, the Fund engaged in sales of $8,233,202 which resulted in a net realized
gain/(loss) of $(6,345). During the year ended June 30, 2019, the Fund did not
engage in purchases pursuant to these procedures.
The accompanying notes are an integral part of these financial statements.
86 Pioneer Bond Fund | Annual Report | 6/30/19
At June 30, 2019, the net unrealized appreciation on investments based on cost
for federal tax purposes of $5,485,996,749 was as follows:
Aggregate gross unrealized appreciation for all investments in which
there is an excess of value over tax cost $144,316,207
Aggregate gross unrealized depreciation for all investments in which
there is an excess of tax cost over value (38,994,090)
------------
Net unrealized appreciation $105,322,117
============
Various inputs are used in determining the value of the Fund's investments.
These inputs are summarized in the three broad levels below.
Level 1 - quoted prices in active markets for identical securities.
Level 2 - other significant observable inputs (including quoted prices for
similar securities, interest rates, prepayment speeds, credit
risks, etc.). See Notes to Financial Statements -- Note 1A.
Level 3 - significant unobservable inputs (including the Fund's own
assumptions in determining fair value of investments). See Notes to
Financial Statements -- Note 1A.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 87
Schedule of Investments | 6/30/19 (continued)
The following is a summary of the inputs used as of June 30, 2019, in valuing
the Fund's investments:
----------------------------------------------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
----------------------------------------------------------------------------------------------------------------
Convertible Preferred Stocks $26,467,395 $ -- $ -- $ 26,467,395
Asset Backed Securities -- 651,788,194 -- 651,788,194
Collateralized Mortgage
Obligations -- 1,260,022,981 -- 1,260,022,981
Corporate Bonds -- 1,527,317,148 -- 1,527,317,148
Foreign Government Bond -- 13,827,884 -- 13,827,884
Insurance-Linked Securities
Catastrophe Linked Bonds
Multiperil - U.S. -- 21,539,415 1,253,375 22,792,790
Collateralized Reinsurance
Earthquakes - California -- -- 1,747,040 1,747,040
Multiperil - Massachusetts -- -- 5,041,996 5,041,996
Multiperil - U.S. -- -- 4,032,440 4,032,440
Multiperil - U.S. Regional -- -- 5,877,851 5,877,851
Multiperil - Worldwide -- -- 3,403,858 3,403,858
Windstorm - Florida -- -- 1,547,492 1,547,492
Windstorm - North Carolina -- -- 1,467,000 1,467,000
Windstorm - U.S. Regional -- -- 2,498,451 2,498,451
Industry Loss Warranties
Multiperil - U.S. -- -- 2,484,372 2,484,372
Reinsurance Sidecars
Multiperil - U.S. -- -- 10,051,227 10,051,227
Multiperil - Worldwide -- -- 79,713,234 79,713,234
All Other Insurance-Linked
Securities -- 32,296,735 -- 32,296,735
Municipal Bonds -- 14,170,167 -- 14,170,167
Senior Secured Floating Rate
Loan Interests -- 91,937,409 -- 91,937,409
U.S. Government and Agency
Obligations -- 1,785,996,247 -- 1,785,996,247
Repurchase Agreements -- 46,880,000 -- 46,880,000
----------------------------------------------------------------------------------------------------------------
Total Investments in Securities $26,467,395 $5,445,776,180 $119,118,336 $5,591,361,911
----------------------------------------------------------------------------------------------------------------
Other Financial Instruments
Net unrealized depreciation
on futures contracts $ (196,179) $ -- $ -- $ (196,179)
Swap contracts, at value -- 153,134 -- 153,134
----------------------------------------------------------------------------------------------------------------
Total Other
Financial Instruments $ (196,179) $ 153,134 $ -- $ (43,045)
================================================================================================================
The accompanying notes are an integral part of these financial statements.
88 Pioneer Bond Fund | Annual Report | 6/30/19
The following is a reconciliation of assets valued using significant
unobservable inputs (Level 3):
-------------------------------------------------------------------------------------
Insurance-
Linked
Securities
-------------------------------------------------------------------------------------
Balance as of 6/30/18(a) $107,644,478
Realized gain (loss)(1) (876,968)
Changed in unrealized appreciation (depreciation)(2) (4,100,464)
Accrued discounts/premiums (57,162)
Purchases 87,193,409
Sales (70,684,957)
Transfers in to Level 3* --
Transfers out of Level 3* --
-------------------------------------------------------------------------------------
Balance as of 6/30/19 $119,118,336
=====================================================================================
(a) Securities were classified as Corporate Bonds on the June 30, 2018
financial statements.
(1) Realized gain (loss) on these securities is included in the realized gain
(loss) from investments on the Statement of Operations.
(2) Unrealized appreciation (depreciation) on these securities is included in
the change in unrealized appreciation (depreciation) from investments on
the Statement of Operations.
* Transfers are calculated on the beginning of period values. For the year
ended June 30, 2019, there were no transfers between Levels 1, 2 and 3.
Net change in unrealized appreciation (depreciation) of Level 3
investments still held and considered Level 3 at June 30, 2019: $(4,096,733)
-----------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 89
Statement of Assets and Liabilities | 6/30/19
ASSETS:
Investments in unaffiliated issuers, at value (cost $5,476,178,527) $5,591,361,911
Cash 83,654,309
Futures collateral 1,741,389
Swap contracts, at value (net premiums received $(21,209)) 153,134
Receivables --
Investment securities sold 21,474,397
Fund shares sold 13,896,986
Dividends 175,631
Interest 26,440,735
Other assets 75,091
--------------------------------------------------------------------------------------------------
Total assets $5,738,973,583
==================================================================================================
LIABILITIES:
Payables --
Investment securities purchased $ 154,261,292
Fund shares repurchased 10,443,886
Distributions 2,986,562
Trustees' fees 7,146
Due to broker for futures 470,187
Variation margin for futures contracts 130,390
Net unrealized depreciation on futures contracts 196,179
Due to affiliates 292,417
Accrued expenses 1,823,255
--------------------------------------------------------------------------------------------------
Total liabilities $ 170,611,314
==================================================================================================
NET ASSETS:
Paid-in capital $5,491,067,466
Distributable earnings 77,294,803
--------------------------------------------------------------------------------------------------
Net assets $5,568,362,269
==================================================================================================
NET ASSET VALUE PER SHARE:
No par value (unlimited number of shares authorized)
Class A (based on $979,874,009/100,096,841 shares) $ 9.79
Class C (based on $62,446,858/6,447,897 shares) $ 9.68
Class K (based on $1,273,821,407/130,185,478 shares) $ 9.78
Class R (based on $198,457,330/20,088,403 shares) $ 9.88
Class Y (based on $3,053,762,665/314,821,780 shares) $ 9.70
MAXIMUM OFFERING PRICE PER SHARE:
Class A (based on $9.79 net asset value per share/100%-4.50%
maximum sales charge) $ 10.25
==================================================================================================
The accompanying notes are an integral part of these financial statements.
90 Pioneer Bond Fund | Annual Report | 6/30/19
Statement of Operations
For the Year Ended 6/30/19
INVESTMENT INCOME:
Interest from unaffiliated issuers $185,073,998
Dividends from unaffiliated issuers 6,251,082
---------------------------------------------------------------------------------------------------------
Total investment income $191,325,080
=========================================================================================================
EXPENSES:
Management fees $ 15,997,027
Administrative expense 1,380,221
Transfer agent fees
Class A 2,444,875
Class C 83,330
Class K 6,907
Class R 475,421
Class Y 3,147,968
Distribution fees
Class A 2,509,049
Class C 661,529
Class R 930,110
Shareowner communications expense 262,900
Custodian fees 235,504
Registration fees 233,556
Professional fees 321,927
Printing expense 83,705
Pricing expense 250,313
Trustees' fees 245,411
Insurance expense 64,747
Miscellaneous 106,246
---------------------------------------------------------------------------------------------------------
Total expenses $ 29,440,746
Less fees waived and expenses reimbursed
by the Adviser (291,088)
---------------------------------------------------------------------------------------------------------
Net expenses $ 29,149,658
---------------------------------------------------------------------------------------------------------
Net investment income $162,175,422
---------------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Investments in unaffiliated issuers $ (3,413,982)
Futures contracts (13,842,373)
Swap contracts 3,509,578 $(13,746,777)
---------------------------------------------------------------------------------------------------------
Change in net unrealized appreciation (depreciation) on:
Investments in unaffiliated issuers $210,908,601
Futures contracts 2,125,503
Swap contracts (40,995)
Unfunded loan commitments (1,444) $212,991,665
---------------------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments $199,244,888
---------------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $361,420,310
=========================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 91
Statements of Changes in Net Assets
------------------------------------------------------------------------------------------------------------------
Year Ended Year Ended
6/30/19 6/30/18
------------------------------------------------------------------------------------------------------------------
FROM OPERATIONS:
Net investment income (loss) $ 162,175,422 $ 143,173,744
Net realized gain (loss) on investments (13,746,777) 10,923,996
Change in net unrealized appreciation (depreciation)
on investments 212,991,665 (140,359,697)
------------------------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $ 361,420,310 $ 13,738,043
------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS TO SHAREOWNERS:
Class A ($0.30 and $0.28 per share, respectively) $ (31,768,715) $ (32,824,981)*
Class C ($0.23 and $0.20 per share, respectively) (1,624,633) (1,902,820)*
Class K ($0.34 and $0.31 per share, respectively) (38,746,201) (27,240,137)*
Class R ($0.28 and $0.25 per share, respectively) (5,436,508) (4,692,437)*
Class Y ($0.33 and $0.30 per share, respectively) (96,979,642) (84,440,366)*
------------------------------------------------------------------------------------------------------------------
Total distributions to shareowners $ (174,555,699) $ (151,100,741)
------------------------------------------------------------------------------------------------------------------
FROM FUND SHARE TRANSACTIONS:
Net proceeds from sales of shares $ 2,280,096,185 $ 1,964,162,519
Reinvestment of distributions 140,968,997 119,480,660
Cost of shares repurchased (2,027,763,106) (1,674,666,408)
------------------------------------------------------------------------------------------------------------------
Net increase in net assets resulting from
Fund share transactions $ 393,302,076 $ 408,976,771
------------------------------------------------------------------------------------------------------------------
Net increase in net assets $ 580,166,687 $ 271,614,073
NET ASSETS:**
Beginning of year $ 4,988,195,582 $ 4,716,581,509
------------------------------------------------------------------------------------------------------------------
End of year $ 5,568,362,269 $ 4,988,195,582
==================================================================================================================
* For the year ended June 30, 2018, distributions to shareowners were
presented as net investment income.
** For the year ended June 30, 2018, undistributed net investment income was
presented as follows: $6,240,063.
The accompanying notes are an integral part of these financial statements.
92 Pioneer Bond Fund | Annual Report | 6/30/19
--------------------------------------------------------------------------------------------------------------
Year Ended Year Ended Year Ended Year Ended
6/30/19 6/30/19 6/30/18 6/30/18
Shares Amount Shares Amount
--------------------------------------------------------------------------------------------------------------
Class A
Shares sold 26,995,582 $ 255,919,620 32,509,729 $ 313,658,795
Reinvestment of distributions 2,394,810 22,690,254 2,370,359 22,839,925
Less shares repurchased (43,647,656) (412,375,791) (39,650,187) (381,172,700)
--------------------------------------------------------------------------------------------------------------
Net decrease (14,257,264) $ (133,765,917) (4,770,099) $ (44,673,980)
==============================================================================================================
Class C
Shares sold 1,620,055 $ 15,140,871 1,175,621 $ 11,253,310
Reinvestment of distributions 129,683 1,215,362 152,545 1,453,906
Less shares repurchased (3,785,268) (35,370,201) (2,897,968) (27,587,924)
--------------------------------------------------------------------------------------------------------------
Net decrease (2,035,530) $ (19,013,968) (1,569,802) $ (14,880,708)
==============================================================================================================
Class K
Shares sold 80,341,266 $ 760,556,110 45,145,368 $ 434,364,284
Reinvestment of distributions 3,212,139 30,464,825 2,183,632 20,998,540
Less shares repurchased (52,786,664) (497,673,237) (22,716,260) (217,864,913)
--------------------------------------------------------------------------------------------------------------
Net increase 30,766,741 $ 293,347,698 24,612,740 $ 237,497,911
==============================================================================================================
Class R
Shares sold 4,802,537 $ 45,936,991 6,423,616 $ 62,506,249
Reinvestment of distributions 525,321 5,026,777 411,975 4,003,314
Less shares repurchased (4,077,850) (38,900,021) (6,238,265) (60,823,043)
--------------------------------------------------------------------------------------------------------------
Net increase 1,250,008 $ 12,063,747 597,326 $ 5,686,520
==============================================================================================================
Class Y
Shares sold 128,196,595 $ 1,202,542,593 119,625,124 $1,142,379,881
Reinvestment of distributions 8,677,520 81,571,779 7,353,829 70,184,975
Less shares repurchased (111,303,616) (1,043,443,856) (103,621,965) (987,217,828)
--------------------------------------------------------------------------------------------------------------
Net increase (decrease) 25,570,499 $ 240,670,516 23,356,988 $ 225,347,028
==============================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 93
Financial Highlights
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/19 6/30/18 6/30/17 6/30/16* 6/30/15*
------------------------------------------------------------------------------------------------------------------------------------
Class A
Net asset value, beginning of period $ 9.45 $ 9.71 $ 9.76 $ 9.68 $ 9.88
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.27(a) $ 0.26(a) $ 0.25(a) $ 0.25(a) $ 0.27
Net realized and unrealized gain (loss) on investments 0.37 (0.24) (0.01) 0.12 (0.14)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.64 $ 0.02 $ 0.24 $ 0.37 $ 0.13
------------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.30) $ (0.28) $ (0.29) $ (0.27) $ (0.29)
Net realized gain -- -- -- (0.02) (0.04)
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.30) $ (0.28) $ (0.29) $ (0.29) $ (0.33)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.34 $ (0.26) $ (0.05) $ 0.08 $ (0.20)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.79 $ 9.45 $ 9.71 $ 9.76 $ 9.68
====================================================================================================================================
Total return (b) 6.93% 0.14% 2.48% 3.93% 1.32%
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 2.88% 2.71% 2.60% 2.58% 2.68%
Portfolio turnover rate 52% 45% 44% 43% 81%
Net assets, end of period (in thousands) $979,874 $1,081,121 $1,156,940 $1,177,941 $1,044,659
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 0.87% 0.96% 0.99% 0.98% 0.93%
Net investment income (loss) to average net assets 2.86% 2.60% 2.46% 2.45% 2.60%
====================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales
charges. Total return would be reduced if sales charges were taken into
account.
The accompanying notes are an integral part of these financial statements.
94 Pioneer Bond Fund | Annual Report | 6/30/19
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/19 6/30/18 6/30/17 6/30/16* 6/30/15*
------------------------------------------------------------------------------------------------------------------------------------
Class C
Net asset value, beginning of period $ 9.35 $ 9.60 $ 9.66 $ 9.57 $ 9.77
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.21(a) $ 0.19(a) $ 0.18(a) $ 0.17(a) $ 0.19
Net realized and unrealized gain (loss) on investments 0.35 (0.24) (0.03) 0.14 (0.14)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.56 $ (0.05) $ 0.15 $ 0.31 $ 0.05
------------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.23) $ (0.20) $ (0.21) $ (0.20) $ (0.21)
Net realized gain -- -- -- (0.02) (0.04)
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.23) $ (0.20) $ (0.21) $ (0.22) $ (0.25)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.33 $ (0.25) $ (0.06) $ 0.09 $ (0.20)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.68 $ 9.35 $ 9.60 $ 9.66 $ 9.57
====================================================================================================================================
Total return (b) 6.10% (0.52)% 1.62% 3.28% 0.49%
Ratio of net expenses to average net assets 1.52% 1.60% 1.59% 1.60% 1.63%
Ratio of net investment income (loss) to average net assets 2.21% 1.96% 1.84% 1.84% 1.89%
Portfolio turnover rate 52% 45% 44% 43% 81%
Net assets, end of period (in thousands) $62,447 $79,308 $96,547 $134,299 $114,222
====================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales
charges. Total return would be reduced if sales charges were taken into
account.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 95
Financial Highlights (continued)
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/19 6/30/18 6/30/17 6/30/16* 6/30/15*
------------------------------------------------------------------------------------------------------------------------------------
Class K
Net asset value, beginning of period $ 9.45 $ 9.71 $ 9.76 $ 9.68 $ 9.87
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.32(a) $ 0.30(a) $ 0.29(a) $ 0.29(a) $ 0.30
Net realized and unrealized gain (loss) on investments 0.35 (0.25) (0.01) 0.12 (0.13)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.67 $ 0.05 $ 0.28 $ 0.41 $ 0.17
------------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.34) $ (0.31) $ (0.33) $ (0.31) $ (0.32)
Net realized gain -- -- -- (0.02) (0.04)
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.34) $ (0.31) $ (0.33) $ (0.33) $ (0.36)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.33 $ (0.26) $ (0.05) $ 0.08 $ (0.19)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.78 $ 9.45 $ 9.71 $ 9.76 $ 9.68
====================================================================================================================================
Total return (b) 7.28% 0.54% 2.87% 4.32% 1.80%
Ratio of net expenses to average net assets 0.37% 0.46% 0.47% 0.47% 0.47%
Ratio of net investment income (loss) to average net assets 3.37% 3.11% 3.01% 2.98% 3.03%
Portfolio turnover rate 52% 45% 44% 43% 81%
Net assets, end of period (in thousands) $1,273,821 $939,272 $726,063 $340,096 $179,135
====================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
96 Pioneer Bond Fund | Annual Report | 6/30/19
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/19 6/30/18 6/30/17 6/30/16* 6/30/15*
------------------------------------------------------------------------------------------------------------------------------------
Class R
Net asset value, beginning of period $ 9.54 $ 9.80 $ 9.85 $ 9.77 $ 9.97
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.25(a) $ 0.24(a) $ 0.23(a) $ 0.23(a) $ 0.25
Net realized and unrealized gain (loss) on investments 0.37 (0.25) (0.01) 0.12 (0.15)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.62 $ (0.01) $ 0.22 $ 0.35 $ 0.10
------------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.28) $ (0.25) $ (0.27) $ (0.25) $ (0.26)
Net realized gain -- -- -- (0.02) (0.04)
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.28) $ (0.25) $ (0.27) $ (0.27) $ (0.30)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.34 $ (0.26) $ (0.05) $ 0.08 $ (0.20)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.88 $ 9.54 $ 9.80 $ 9.85 $ 9.77
====================================================================================================================================
Total return (b) 6.62% (0.08)% 2.23% 3.66% 1.06%
Ratio of net expenses to average net assets 1.10% 1.10% 1.10% 1.10% 1.10%
Ratio of net investment income (loss) to average net assets 2.64% 2.46% 2.35% 2.33% 2.43%
Portfolio turnover rate 52% 45% 44% 43% 81%
Net assets, end of period (in thousands) $198,457 $179,729 $178,770 $156,110 $116,815
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 1.12% 1.21% 1.24% 1.21% 1.21%
Net investment income (loss) to average net assets 2.62% 2.35% 2.21% 2.22% 2.32%
====================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/19 97
Financial Highlights (continued)
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/19 6/30/18 6/30/17 6/30/16* 6/30/15*
------------------------------------------------------------------------------------------------------------------------------------
Class Y
Net asset value, beginning of period $ 9.36 $ 9.62 $ 9.67 $ 9.59 $ 9.79
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.31(a) $ 0.28(a) $ 0.28(a) $ 0.27(a) $ 0.30
Net realized and unrealized gain (loss) on investments 0.36 (0.24) (0.02) 0.12 (0.15)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.67 $ 0.04 $ 0.26 $ 0.39 $ 0.15
------------------------------------------------------------------------------------------------------------------------------------
Distributions to shareowners:
Net investment income $ (0.33) $ (0.30) $ (0.31) $ (0.29) $ (0.31)
Net realized gain -- -- -- (0.02) (0.04)
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.33) $ (0.30) $ (0.31) $ (0.31) $ (0.35)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ 0.34 $ (0.26) $ (0.05) $ 0.08 $ (0.20)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.70 $ 9.36 $ 9.62 $ 9.67 $ 9.59
====================================================================================================================================
Total return (b) 7.30% 0.40% 2.76% 4.22% 1.59%
Ratio of net expenses to average net assets 0.49% 0.58% 0.58% 0.58% 0.58%
Ratio of net investment income (loss) to average net assets 3.26% 2.98% 2.87% 2.85% 2.95%
Portfolio turnover rate 52% 45% 44% 43% 81%
Net assets, end of period (in thousands) $3,053,763 $2,708,766 $2,558,262 $2,136,681 $1,644,161
Ratios with no waiver of fees and assumption of expenses by the
Adviser and no reduction for fees paid indirectly:
Total expenses to average net assets 0.49% 0.58% 0.59% 0.59% 0.58%
Net investment income (loss) to average net assets 3.26% 2.98% 2.86% 2.84% 2.95%
====================================================================================================================================
* The Fund was audited by an independent registered public accounting firm
other than Ernst & Young LLP.
(a) The per-share data presented above is based on the average shares
outstanding for the period presented.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions and the complete redemption of
the investment at net asset value at the end of each period.
The accompanying notes are an integral part of these financial statements.
98 Pioneer Bond Fund | Annual Report | 6/30/19
Notes to Financial Statements | 6/30/19
1. Organization and Significant Accounting Policies
Pioneer Bond Fund (the "Fund") is a Delaware statutory trust. The Fund is
registered under the Investment Company Act of 1940 as a diversified, open-end
management investment company. The investment objective of the Fund is to seek
current income consistent with preservation of capital.
The Fund offers five classes of shares designated as Class A, Class C, Class K,
Class R and Class Y shares. Each class of shares represents an interest in the
same portfolio of investments of the Fund and has identical rights (based on
relative net asset values) to assets and liquidation proceeds. Share classes can
bear different rates of class-specific fees and expenses such as transfer agent
and distribution fees. Differences in class-specific fees and expenses will
result in differences in net investment income and, therefore, the payment of
different dividends from net investment income earned by each class. The Amended
and Restated Declaration of Trust of the Fund gives the Board of Trustees the
flexibility to specify either per-share voting or dollar-weighted voting when
submitting matters for shareowner approval. Under per-share voting, each share
of a class of the Fund is entitled to one vote. Under dollar-weighted voting, a
shareowner's voting power is determined not by the number of shares owned, but
by the dollar value of the shares on the record date. Each share class has
exclusive voting rights with respect to matters affecting only that class,
including with respect to the distribution plan for that class. There is no
distribution plan for Class K or Class Y shares.
Amundi Pioneer Asset Management, Inc., an indirect, wholly owned subsidiary of
Amundi and Amundi's wholly owned subsidiary, Amundi USA, Inc., serves as the
Fund's investment adviser (the "Adviser"). Amundi Pioneer Distributor, Inc., an
affiliate of Amundi Pioneer Asset Management, Inc., serves as the Fund's
distributor (the "Distributor").
In August 2018, the Securities and Exchange Commission ("SEC") released a
Disclosure Update and Simplification Final Rule. The Final Rule amends
Regulation S-X disclosures requirements to conform them to U.S. Generally
Accepted Accounting Principles ("U.S. GAAP") for investment companies. The
Fund's financial statements were prepared in compliance with the new amendments
to Regulation S-X.
The Fund is an investment company and follows investment company accounting and
reporting guidance under U.S. GAAP. U.S. GAAP requires the management of the
Fund to make estimates and assumptions that affect the reported amounts of
assets and liabilities, the disclosure of contingent assets
Pioneer Bond Fund | Annual Report | 6/30/19 99
and liabilities at the date of the financial statements, and the reported
amounts of income, expenses and gain or loss on investments during the reporting
period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the
Fund in the preparation of its financial statements:
A. Security Valuation
The net asset value of the Fund is computed once daily, on each day the
New York Stock Exchange ("NYSE") is open, as of the close of regular
trading on the NYSE.
Fixed-income securities are valued by using prices supplied by independent
pricing services, which consider such factors as market prices, market
events, quotations from one or more brokers, Treasury spreads, yields,
maturities and ratings, or may use a pricing matrix or other fair value
methods or techniques to provide an estimated value of the security or
instrument. A pricing matrix is a means of valuing a debt security on the
basis of current market prices for other debt securities, historical
trading patterns in the market for fixed-income securities and/or other
factors. Non-U.S. debt securities that are listed on an exchange will be
valued at the bid price obtained from an independent third party pricing
service. When independent third party pricing services are unable to
supply prices, or when prices or market quotations are considered to be
unreliable, the value of that security may be determined using quotations
from one or more broker-dealers.
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
100 Pioneer Bond Fund | Annual Report | 6/30/19
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.
Futures contracts are generally valued at the closing settlement price
established by the exchange on which they are traded.
Swap contracts, including interest rate swaps, caps and floors (other than
centrally cleared swap contracts), are valued at the dealer quotations
obtained from reputable International Swap Dealers Association members.
Centrally cleared swaps are valued at the daily settlement price provided
by the central clearing counterparty.
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 or
broker-dealers are unable to supply prices or for which market prices
and/or quotations are not readily available or are considered to be
unreliable are valued by a fair valuation team comprised of certain
personnel of the Adviser pursuant to procedures adopted by the Fund's
Board of Trustees. The Adviser's fair valuation team uses fair value
methods approved by the Valuation Committee of the Board of Trustees. The
Adviser's fair valuation team is responsible for monitoring developments
that may impact fair valued securities and for discussing and assessing
fair values on an ongoing basis, and at least quarterly, with the
Valuation Committee of the Board of Trustees.
Inputs used when applying fair value methods to value a security may
include credit ratings, the financial condition of the company, current
market conditions and comparable securities. The Fund may use fair value
methods if it is determined that a significant event has occurred after
the close of the exchange or market on which the security trades and prior
to the determination of the Fund's net asset value. Examples of a
significant event 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, 2019, no securities were valued using fair value methods
(other to than securities valued using prices supplied by independent
pricing services, broker-dealers or using a third party insurance industry
pricing model).
Pioneer Bond Fund | Annual Report | 6/30/19 101
B. Investment Income and Transactions
Dividend income is recorded on the ex-dividend date, except that certain
dividends from foreign securities where the ex-dividend date may have
passed are recorded as soon as the Fund becomes aware of the ex-dividend
data in the exercise of reasonable diligence.
Interest income, including interest on income-bearing cash accounts, is
recorded on the accrual basis. Dividend and interest income are reported
net of unrecoverable foreign taxes withheld at the applicable country
rates and net of income accrued on defaulted securities.
Interest and dividend income payable by delivery of additional shares is
reclassified as PIK (payment-in-kind) income upon receipt and is included
in interest and dividend income, respectively.
Principal amounts of mortgage-backed securities, asset-backed securities
and corporate bonds are adjusted for monthly paydowns. Premiums and
discounts related to certain mortgage-backed securities are amortized or
accreted in proportion to the monthly paydowns. All discounts/premiums on
purchase prices of debt securities are accreted/amortized for financial
reporting purposes over the life of the respective securities, and such
accretion/amortization is included in interest income.
Security transactions are recorded as of trade date. Gains and losses on
sales of investments are calculated on the identified cost method for both
financial reporting and federal income tax purposes.
C. Federal Income Taxes
It is the Fund's policy to comply with the requirements of the Internal
Revenue Code applicable to regulated investment companies and to
distribute all of its net taxable income and net realized capital gains,
if any, to its shareowners. Therefore, no provision for federal income
taxes is required. As of June 30, 2019, the Fund did not accrue any
interest or penalties with respect to uncertain tax positions, which, if
applicable, would be recorded as an income tax expense on the Statement of
Operations. Tax returns filed within the prior three years remain subject
to examination by federal and state tax authorities.
The amount and character of income and capital gain distributions to
shareowners are determined in accordance with federal income tax rules,
which may differ from U.S. GAAP. Distributions in excess of net investment
income or net realized gains are temporary over distributions for
financial statement purposes resulting from differences in the recognition
or classification of income or distributions for financial statement and
tax
102 Pioneer Bond Fund | Annual Report | 6/30/19
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, 2019, the Fund was permitted to carry forward indefinitely
$4,364,357 of short-term losses and $32,138,057 of long-term losses under
the Regulated Investment Company Modernization Act of 2010 without
limitation.
The tax character of distributions paid during the years ended June 30,
2019 and June 30, 2018, were as follows:
--------------------------------------------------------------------------
2019 2018
--------------------------------------------------------------------------
Distributions paid from:
Ordinary income $174,555,699 $151,100,741
--------------------------------------------------------------------------
Total $174,555,699 $151,100,741
==========================================================================
The following shows the components of distributable earnings on a federal
income tax basis at June 30, 2019:
--------------------------------------------------------------------------
2019
--------------------------------------------------------------------------
Distributable earnings:
Undistributed ordinary income $ 11,461,661
Capital Loss Carryforward (36,502,414)
Current year dividends payable (2,986,562)
Net unrealized depreciation 105,322,118
--------------------------------------------------------------------------
Total $ 77,294,803
==========================================================================
The difference between book basis and tax basis unrealized depreciation is
attributable to the tax deferral of losses on wash sales, adjustments
relating to catastrophe bonds, swaps, the tax treatment of premium and
amortization and the mark to market of futures contracts.
D. Fund Shares
The Fund records sales and repurchases of its shares as of trade date. The
Distributor earned $36,259 in underwriting commissions on the sale of
Class A shares during the year ended June 30, 2019.
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.
Pioneer Bond Fund | Annual Report | 6/30/19 103
Distribution fees are calculated based on the average daily net asset
value attributable to Class A, Class C, and Class R shares of the Fund,
respectively (see Note 4). Class K and Class Y shares do not pay
distribution fees. All expenses and fees paid to the Fund's transfer agent
for its services are allocated among the classes of shares based on the
number of accounts in each class and the ratable allocation of related
out-of-pocket expenses (see Note 3).
The Fund declares as daily dividends substantially all of its net
investment income. All dividends are paid on a monthly basis. Short-term
capital gain distributions, if any, may be declared with the daily
dividends. Distributions to shareowners are recorded as of the ex-dividend
date. Distributions paid by the Fund with respect to each class of shares
are calculated in the same manner and at the same time, except that net
investment income dividends to Class A, Class C, Class K, Class R and
Class Y shares can reflect different transfer agent and distribution
expense rates.
F. Risks
The value of securities held by the Fund may go up or down, sometimes
rapidly or unpredictably, due to general market conditions, such as real
or perceived adverse economic, political or regulatory conditions,
inflation, changes in interest rates, lack of liquidity in the bond
markets or adverse investor sentiment. In the past several years,
financial markets have experienced increased volatility, depressed
valuations, decreased liquidity and heightened uncertainty. These
conditions may continue, recur, worsen or spread. A general rise in
interest rates could adversely affect the price and liquidity of
fixed-income securities and could also result in increased redemptions
from the Fund.
At times, the Fund's investments may represent industries or industry
sectors that are interrelated or have common risks, making the Fund more
susceptible to any economic, political, or regulatory developments or
other risks affecting those industries and sectors. The Fund's investments
in foreign markets and countries with limited developing markets may
subject the Fund to a greater degree of risk than investments in a
developed market. These risks include disruptive political or economic
conditions and the imposition of adverse governmental laws or currency
exchange restrictions.
The Fund invests in below investment grade (high yield) debt securities
and preferred stocks. Some of these high yield securities may be
convertible into equity securities of the issuer. Debt securities rated
below investment grade are commonly referred to as "junk bonds" and are
considered speculative.
104 Pioneer Bond Fund | Annual Report | 6/30/19
These securities involve greater risk of loss, are subject to greater
price volatility, and are less liquid, especially during periods of
economic uncertainty or change, than higher rated debt securities.
With the increased use of technologies such as the Internet to conduct
business, the Fund is susceptible to operational, information security and
related risks. While the Fund's Adviser has established business
continuity plans in the event of, and risk management systems to prevent,
limit or mitigate, such cyber-attacks, there are inherent limitations in
such plans and systems, including the possibility that certain risks have
not been identified. Furthermore, the Fund cannot control the
cybersecurity plans and systems put in place by service providers to the
Fund such as Brown Brothers Harriman & Co., the Fund's custodian and
accounting agent, and DST Asset Manager Solutions, Inc., the Fund's
transfer agent. In addition, many beneficial owners of Fund shares hold
them through accounts at broker-dealers, retirement platforms and other
financial market participants over which neither the Fund nor Amundi
Pioneer exercises control. Each of these may in turn rely on service
providers to them, which are also subject to the risk of cyber-attacks.
Cybersecurity failures or breaches at Amundi Pioneer or the Fund's service
providers or intermediaries have the ability to cause disruptions and
impact business operations, potentially resulting in financial losses,
interference with the Fund's ability to calculate its net asset value,
impediments to trading, the inability of Fund shareowners to effect share
purchases, redemptions or exchanges or receive distributions, loss of or
unauthorized access to private shareowner information and violations of
applicable privacy and other laws, regulatory fines, penalties,
reputational damage, or additional compliance costs. Such costs and losses
may not be covered under any insurance. In addition, maintaining vigilance
against cyber-attacks may involve substantial costs over time, and system
enhancements may themselves be subject to cyber-attacks.
The Fund's prospectus contains unaudited information regarding the Fund's
principal risks. Please refer to that document when considering the Fund's
principal risks.
G. Insurance-Linked Securities ("ILS")
The Fund invests in ILS. The Fund could lose a portion or all of the
principal it has invested in an ILS, and the right to additional interest
or dividend payments with respect to the security, upon the occurrence of
one or more trigger events, as defined within the terms of an
insurance-linked security. Trigger events, generally, are hurricanes,
earthquakes, or other natural events of a specific size or magnitude that
occur in a designated geographic region during a specified time period,
and/or that involve losses or other metrics that exceed a specific amount.
There is no way to accurately predict whether a
Pioneer Bond Fund | Annual Report | 6/30/19 105
trigger event will occur, and accordingly, ILS carry significant risk. The
Fund is entitled to receive principal, and interest and/or dividend
payments so long as no trigger event occurs of the description and
magnitude specified by the instrument. In addition to the specified
trigger events, ILS may expose the Fund to other risks, including but not
limited to issuer (credit) default, adverse regulatory or jurisdictional
interpretations and adverse tax consequences.
The Fund's investments in ILS may include event-linked bonds. ILS also may
include special purpose vehicles ("SPVs") or similar instruments
structured to comprise a portion of a reinsurer's catastrophe-oriented
business, known as quota share instruments (sometimes referred to as
reinsurance sidecars), or to provide reinsurance relating to specific
risks to insurance or reinsurance companies through a collateralized
instrument, known as collateralized reinsurance. Structured reinsurance
investments also may include industry loss warranties ("ILWs"). A
traditional ILW takes the form of a bilateral reinsurance contract, but
there are also products that take the form of derivatives, collateralized
structures, or exchange-traded instruments.
Where the ILS are based on the performance of underlying reinsurance
contracts, the Fund has limited transparency into the individual
underlying contracts, and therefore must rely upon the risk assessment and
sound underwriting practices of the issuer. Accordingly, it may be more
difficult for the Adviser to fully evaluate the underlying risk profile of
the Fund's structured reinsurance investments, and therefore the Fund's
assets are placed at greater risk of loss than if the Adviser had more
complete information. Structured reinsurance instruments generally will be
considered illiquid securities by the Fund. These securities may be
difficult to purchase, sell or unwind. Illiquid securities also may be
difficult to value. If the Fund is forced to sell an illiquid asset, the
Fund may be forced to sell at a loss.
H. Repurchase Agreements
Repurchase agreements are arrangements under which the Fund purchases
securities from a broker-dealer or a bank, called the counterparty, upon
the agreement of the counterparty to repurchase the securities from the
Fund at a later date, and at a specific price, which is typically higher
than the purchase price paid by the Fund. The securities purchased serve
as the Fund's collateral for the obligation of the counterparty to
repurchase the securities. The value of the collateral, including accrued
interest, is required to be equal to or in excess of the repurchase price.
The collateral for all repurchase agreements is held in safekeeping in the
customer-only account of the Fund's custodian or a sub-custodian of the
Fund. The Adviser is responsible for determining that
106 Pioneer Bond Fund | Annual Report | 6/30/19
the value of the collateral remains at least equal to the repurchase
price. In the event of a default by the counterparty, the Fund is entitled
to sell the securities, but the Fund may not be able to sell them for the
price at which they were purchased, thus causing a loss to the Fund.
Additionally, if the counterparty becomes insolvent, there is some risk
that the Fund will not have a right to the securities, or the immediate
right to sell the securities.
Open repurchase agreements as of June 30, 2019 are disclosed in the Fund's
Schedule of Investments.
I. 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, 2019, is recorded as "Futures collateral" on the Statement of
Assets and Liabilities.
Subsequent payments for futures contracts ("variation margin") are paid or
received by the Fund, depending on the daily fluctuation in the value of
the contracts, and are recorded by the Fund as unrealized appreciation or
depreciation. Cash received from or paid to the broker related to previous
margin movement is held in a segregated account at the broker and is
recorded as either "Due from broker for futures" or "Due to broker for
futures" on the Statement of Assets and Liabilities. When the contract is
closed, the Fund realizes a gain or loss equal to the difference between
the opening and closing value of the contract as well as any fluctuation
in foreign currency exchange rates where applicable. Futures contracts are
subject to market risk, interest rate risk and currency exchange rate
risk. Changes in value of the contracts may not directly correlate to the
changes in value of the underlying securities. With futures, there is
reduced counterparty credit risk to the Fund since futures are
exchange-traded and the exchange's clearinghouse, as counterparty to all
exchange-traded futures, guarantees the futures against default.
The average market value of futures contracts open during the year ended
June 30, 2019, was $197,240,467. Open futures contracts outstanding at
June 30, 2019, are listed in the Schedule of Investments.
Pioneer Bond Fund | Annual Report | 6/30/19 107
J. Credit Default Swap Contracts
A credit default swap is a contract between a buyer of protection and a
seller of protection against a pre-defined credit event or an underlying
reference obligation, which may be a single security or a basket or index
of securities. The Fund may buy or sell credit default swap contracts to
seek to increase the Fund's income, or to attempt to hedge the risk of
default on portfolio securities. A credit default swap index is used to
hedge risk or take a position on a basket of credit entities or indices.
As a seller of protection, the Fund would be required to pay the notional
(or other agreed-upon) value of the referenced debt obligation to the
counterparty in the event of a default by a U.S. or foreign corporate
issuer of a debt obligation, which would likely result in a loss to the
Fund. In return, the Fund would receive from the counterparty a periodic
stream of payments during the term of the contract, provided that no event
of default occurred. The maximum exposure of loss to the seller would be
the notional value of the credit default swaps outstanding. If no default
occurs, the Fund would keep the stream of payments and would have no
payment obligation. The Fund may also buy credit default swap contracts in
order to hedge against the risk of default of debt securities, in which
case the Fund would function as the counterparty referenced above.
As a buyer of protection, the Fund makes an upfront or periodic payment to
the protection seller in exchange for the right to receive a contingent
payment. An upfront payment made by the Fund, as the protection buyer, is
recorded within the "Swap contracts, at value" line item on the Statement
of Assets and Liabilities. Periodic payments received or paid by the Fund
are recorded as realized gains or losses on the Statement of Operations.
Credit default swap contracts are marked-to-market daily using valuations
supplied by independent sources, and the change in value, if any, is
recorded within the "Swap contracts, at value" line item on the Statement
of Assets and Liabilities. Payments received or made as a result of a
credit event or upon termination of the contract are recognized, net of
the appropriate amount of the upfront payment, as realized gains or losses
on the Statement of Operations.
Credit default swap contracts involving the sale of protection may involve
greater risks than if the Fund had invested in the referenced debt
instrument directly. Credit default swap contracts are subject to general
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,
108 Pioneer Bond Fund | Annual Report | 6/30/19
resulting in a loss to the Fund. In addition, obligations under sell
protection credit default swaps may be partially offset by net amounts
received from settlement of buy protection credit default swaps entered
into by the Fund for the same reference obligation with the same
counterparty.
Certain swap contracts that are cleared through a central clearinghouse
are referred to as centrally cleared swaps. All payments made or received
by the Fund are pursuant to a centrally cleared swap contract with the
central clearing party rather than the original counterparty. Upon
entering into a centrally cleared swap contract, the Fund is required to
make an initial margin deposit, either in cash or in securities. The daily
change in value on open centrally cleared contracts is recorded as
"Variation margin for centrally cleared swaps" on the Statement of Assets
and Liabilities. Cash received from or paid to the broker related to
previous margin movement is held in a segregated account at the broker and
is recorded as either "Due from broker for swaps" or "Due to broker for
swaps" on the Statement of Assets and Liabilities.
The average market value of credit default swap contracts open during the
year ended June 30, 2019, was $(1,725,245). Open credit default swap
contracts at June 30, 2019, are listed in the Schedule of Investments.
2. Management Agreement
The Adviser manages the Fund's portfolio. Effective October 1, 2018, management
fees are calculated daily at the annual rate of 0.40% of the Fund's average
daily net assets up to $500 million, 0.35% of the next $500 million of the
Fund's average daily net assets, 0.30% of the next $1 billion of the Fund's
average daily net assets, 0.25% of the next $8 billion of the Fund's average
daily net assets, and 0.225% of the Fund's average daily net assets over $10
billion. The fee is accrued daily and paid monthly. Prior to October 1, 2018,
the management fee was calculated daily at the annual rate of 0.40% of the
Fund's average daily net assets. For the year ended June 30, 2019, the
effective management fee (excluding waivers and/or assumption of expenses) was
equivalent to 0.31% of the Fund's average daily net assets.
The Adviser has contractually agreed to limit ordinary operating expenses
(ordinary operating expenses means all fund expenses other than extraordinary
expenses, such as litigation, taxes, brokerage commissions and acquired fund
fees and expenses) 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, 2019 are reflected on the Statement of Operations.
These expense limitations are in effect through November 1, 2019. There can be
no assurance that the Adviser will extend the expense limitation agreement for
a class of shares beyond the date referred to above.
Pioneer Bond Fund | Annual Report | 6/30/19 109
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
$236,683 in management fees, administrative costs and certain other
reimbursements payable to the Adviser at June 30, 2019.
3. Transfer Agent
DST Asset Manager Solutions, Inc. serves as the transfer agent to the Fund at
negotiated rates. Transfer agent fees and payables shown on the Statement of
Operations and the Statement of Assets and Liabilities, respectively, include
sub-transfer agent expenses incurred through the Fund's omnibus relationship
contracts.
In addition, the Fund reimbursed the transfer agent for out-of-pocket expenses
incurred by the transfer agent related to shareowner communications activities
such as proxy and statement mailings, and outgoing phone calls. For the year
ended June 30, 2019, such out-of-pocket expenses by class of shares were as
follows:
--------------------------------------------------------------------------------
Shareowner Communications
--------------------------------------------------------------------------------
Class A $ 89,292
Class C 11,989
Class K 18,291
Class R 393
Class Y 142,935
--------------------------------------------------------------------------------
Total $262,900
================================================================================
4. Distribution and Service Plans
The Fund has adopted a distribution plan (the "Plan") pursuant to Rule 12b-1 of
the Investment Company Act of 1940 with respect to its Class A, Class C and
Class R shares. Pursuant to the Plan, the Fund pays the Distributor 0.25% of
the average daily net assets attributable to Class A shares as compensation for
personal services and/or account maintenance services or distribution services
with regard to Class A shares. Pursuant to the Plan, the Fund also pays the
Distributor 1.00% of the average daily net assets attributable to Class C
shares. The fee for Class C shares consists of a 0.25% service fee and a 0.75%
distribution fee paid as compensation for personal services and/or account
maintenance services or distribution services with regard to Class C shares.
Pursuant to the Plan, the Fund also pays the Distributor 0.50% of the average
daily net assets attributable to Class R shares for distribution services.
Included in "Due to affiliates" reflected on the Statement of Assets and
Liabilities is $55,734 in distribution fees payable to the Distributor at June
30, 2019.
110 Pioneer Bond Fund | Annual Report | 6/30/19
The Fund also has adopted a separate service plan for Class R shares (the
"Service Plan"). The Service Plan authorizes the Fund to pay securities
dealers, plan administrators or other service organizations that agree to
provide certain services to retirement plans or plan participants holding
shares of the Fund a service fee of up to 0.25% of the Fund's average daily net
assets attributable to Class R shares held by such plans.
In addition, redemptions of Class A and Class C shares may be subject to a
contingent deferred sales charge ("CDSC"). A CDSC of 1.00% may be imposed on
redemptions of certain net asset value purchases of Class A shares within
12 months of purchase. Redemptions of Class C shares within 12 months of
purchase are subject to a CDSC of 1.00%, based on the lower of cost or market
value of shares being redeemed. Shares purchased as part of an exchange remain
subject to any CDSC that applied to the original purchase of those shares.
There is no CDSC for Class K, Class R or Class Y shares. Proceeds from the
CDSCs are paid to the Distributor. For the year ended June 30, 2019, CDSCs in
the amount of $9,378 were paid to the Distributor.
5. Line of Credit Facility
The Fund, along with certain other funds in the Pioneer Family of Funds (the
"Funds"), participates in a committed, unsecured revolving line of credit
facility. Borrowings are used solely for temporary or emergency purposes. The
Fund may borrow up to the lesser of the amount available under the credit
facility or the limits set for borrowing by the Fund's prospectus and the 1940
Act. Effective August 1, 2018 the Fund participates in a credit facility in the
amount of $250 million. Under such facility, depending on the type of loan,
interest on borrowings is payable at the London Interbank Offered Rate
("LIBOR") plus 0.90% on an annualized basis, or the Alternate Base Rate, which
is the greater of (a) the facility's administrative agent's daily announced
prime rate on the borrowing date, (b) 2% plus the Federal Funds Rate on the
borrowing date, or (c) 2% plus the overnight Eurodollar rate on the borrowing
date. The Funds pay an annual commitment fee to participate in a credit
facility. The commitment fee is allocated among participating Funds based on an
allocation schedule set forth in the credit agreement. For the year ended June
30, 2019, the Fund had no borrowings under the credit facility.
Pioneer Bond Fund | Annual Report | 6/30/19 111
6. Master Netting Agreements
The Fund has entered into an International Swaps and Derivatives Association,
Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with
substantially all of its derivative counterparties. An ISDA Master Agreement is
a bilateral agreement between the Fund and a counterparty that governs the
trading of certain Over the Counter ("OTC") derivatives and typically contains,
among other things, close-out and set-off provisions which apply upon the
occurrence of an event of default and/or a termination event as defined under
the relevant ISDA Master Agreement. The ISDA Master Agreement may also give a
party the right to terminate all transactions traded under such agreement if,
among other things, there is deterioration in the credit quality of the other
party.
Upon an event of default or a termination of the ISDA Master Agreement, the
non-defaulting party has the right to close-out all transactions under such
agreement and to net amounts owed under each transaction to determine one net
amount payable by one party to the other. The right to close out and net
payments across all transactions under the ISDA Master Agreement could result
in a reduction of the Fund's credit risk to its counterparty equal to any
amounts payable by the Fund under the applicable transactions, if any. However,
the Fund's right to set-off may be restricted or prohibited by the bankruptcy
or insolvency laws of the particular jurisdiction to which each specific ISDA
Master Agreement of each counterparty is subject.
The collateral requirements for derivatives transactions under an ISDA Master
Agreement are governed by a credit support annex to the ISDA Master Agreement.
Collateral requirements are generally determined at the close of business each
day and are typically based on changes in market values for each transaction
under an ISDA Master Agreement and netted into one amount for such agreement.
Generally, the amount of collateral due from or to a counterparty is subject to
threshold (a "minimum transfer amount") before a transfer is required, which
may vary by counterparty. Collateral pledged for the benefit of the Fund and/or
counterparty is held in segregated accounts by the Fund's custodian and cannot
be sold, re-pledged, assigned or otherwise used while pledged. Cash that has
been segregated to cover the Fund's collateral obligations, if any, will be
reported separately on the Statement of Assets and Liabilities as "Swaps
collateral". Securities pledged by the Fund as collateral, if any, are
identified as such in the Schedule of Investments.
112 Pioneer Bond Fund | Annual Report | 6/30/19
Financial instruments subject to an enforceable master netting agreement, such
as an ISDA Master Agreement, have been offset on the Statement of Assets and
Liabilities. The following chart shows gross assets and liabilities of the Fund
as of June 30, 2019.
---------------------------------------------------------------------------------------------------------
Derivative Assets Derivatives Non-Cash Cash Net Amount
Subject to Master Available for Collateral Collateral of Derivative
Counterparty Netting Agreement Offset Received (a) Received (a) Assets (b)
---------------------------------------------------------------------------------------------------------
JPMorgan Chase
Bank NA $174,343 $ -- $ -- $ -- $174,343
---------------------------------------------------------------------------------------------------------
Total $174,343 $ -- $ -- $ -- $174,343
=========================================================================================================
(a) The amount presented here may be less than the total amount of collateral
received/pledged, as the net amount of derivative assets and liabilities
cannot be less than $0.
(b) Represents the net amount due from the counterparty in the event of
default.
7. Additional Disclosures about Derivative Instruments and Hedging Activities
The Fund's use of derivatives may enhance or mitigate the Fund's exposure to
the following risks:
Interest rate risk relates to the fluctuations in the value of interest-bearing
securities due to changes in the prevailing levels of market interest rates.
Credit risk relates to the ability of the issuer of a financial instrument to
make further principal or interest payments on an obligation or commitment that
it has to the Fund.
Foreign exchange rate risk relates to fluctuations in the value of an asset or
liability due to changes in currency exchange rates.
Equity risk relates to the fluctuations in the value of financial instruments
as a result of changes in market prices (other than those arising from interest
rate risk or foreign exchange rate risk), whether caused by factors specific to
an individual investment, its issuer, or all factors affecting all instruments
traded in a market or market segment.
Commodity risk relates to the risk that the value of a commodity or commodity
index will fluctuate based on increases or decreases in the commodities market
and factors specific to a particular industry or commodity.
Pioneer Bond Fund | Annual Report | 6/30/19 113
The fair value of open derivative instruments (not considered to be hedging
instruments for accounting disclosure purposes) by risk exposure at June 30,
2019 was as follows:
--------------------------------------------------------------------------------
Foreign
Statement of Assets Interest Credit Exchange Equity Commodity
and Liabilities Rate Risk Risk Rate Risk Risk Risk
--------------------------------------------------------------------------------
Assets:
Swap contracts,
at value $ -- $153,134 $ -- $ -- $ --
--------------------------------------------------------------------------------
Total Value $ -- $153,134 $ -- $ -- $ --
================================================================================
Liabilities:
Net unrealized
depreciation on
futures contracts $(196,179) $ -- $ -- $ -- $ --
--------------------------------------------------------------------------------
Total Value $(196,179) $ -- $ -- $ -- $ --
================================================================================
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, 2019 was as follows:
--------------------------------------------------------------------------------------------
Foreign
Interest Credit Exchange Equity Commodity
Statement of Operations Rate Risk Risk Rate Risk Risk Risk
--------------------------------------------------------------------------------------------
Net realized gain
(loss) on:
Futures contracts $(13,842,373) $ -- $ -- $ -- $ --
Swap contracts -- 3,509,578 -- -- --
--------------------------------------------------------------------------------------------
Total Value $(13,842,373) $3,509,578 $ -- $ -- $ --
============================================================================================
Change in net
unrealized appreciation
(depreciation) on:
Futures contracts $ 2,125,503 $ -- $ -- $ -- $ --
Swap contracts -- (40,995) -- -- --
--------------------------------------------------------------------------------------------
Total Value $ 2,125,503 $ (40,995) $ -- $ -- $ --
============================================================================================
114 Pioneer Bond Fund | Annual Report | 6/30/19
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and the Shareholders of
Pioneer Bond Fund:
--------------------------------------------------------------------------------
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities of Pioneer
Bond Fund (the "Fund"), including the schedule of investments, as of June 30,
2019, and the related statement of operations for the year then ended, the
statements 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 (collectively referred to as the "financial statements"). The
financial highlights for the periods ended June 30, 2015 and June 30, 2016 were
audited by another independent registered public accounting firm whose report,
dated August 25, 2016, expressed an unqualified opinion on those financial
highlights. In our opinion, the financial statements present fairly, in all
material respects, the financial position of Pioneer Bond Fund at June 30,
2019, 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 U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Fund's management. Our
responsibility is to express an opinion on the Fund's financial statements
based on our audits. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) ("PCAOB") and are required
to be independent with respect to the Fund in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and
Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those
standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement, whether due to error or fraud. The Fund is not required to have,
nor were we engaged to perform, an audit of the Fund's internal control over
financial reporting. As part of our audits, we are required to obtain an
understanding of internal control over financial reporting, but not for the
purpose of expressing an opinion on the effectiveness of the Fund's internal
control over financial reporting. Accordingly, we express no such opinion.
Pioneer Bond Fund | Annual Report | 6/30/19 115
Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and
performing procedures that respond to those risks. Such procedures included
examining, on a test basis, evidence regarding the amounts and disclosures in
the financial statements. Our procedures included confirmation of securities
owned as of June 30, 2019, by correspondence with the custodian and brokers.
Our audits also included evaluating the accounting principles used and
significant estimates made by management, as well as evaluating the overall
presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.
/s/ Ernst & Young LLP
We have served as the Fund's auditor since 2017.
Boston, Massachusetts
August 27, 2019
116 Pioneer Bond Fund | Annual Report | 6/30/19
ADDITIONAL INFORMATION (unaudited)
Qualified interest income is exempt from nonresident alien (NRA) tax
withholding. The percentage of the Fund's ordinary income distributions derived
from qualified interest income was 82.86%.
Pioneer Bond Fund | Annual Report | 6/30/19 117
Trustees, Officers and Service Providers
Investment Adviser and Administrator
Amundi Pioneer Asset Management, Inc.
Custodian and Sub-Administrator
Brown Brothers Harriman & Co.
Independent Registered Public Accounting Firm
Ernst & Young LLP
Principal Underwriter
Amundi Pioneer Distributor, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Transfer Agent
DST Asset Manager Solutions, Inc.
Proxy Voting Policies and Procedures of the Fund are available without charge,
upon request, by calling our toll free number (1-800-225-6292). Information
regarding how the Fund voted proxies relating to portfolio securities during
the most recent 12-month period ended June 30 is publicly available to
shareowners at www.amundipioneer.com/us. This information is also available on
the Securities and Exchange Commission's web site at www.sec.gov.
Trustees and Officers
The Fund's Trustees and officers are listed below, together with their
principal occupations and other directorships they have held during at least
the past five years. Trustees who are interested persons of the Fund within the
meaning of the 1940 Act are referred to as Interested Trustees. Trustees who
are not interested persons of the Fund are referred to as Independent Trustees.
Each of the Trustees, except for Ms. Durnin, serves as a Trustee of each of the
43 U.S. registered investment portfolios for which Amundi Pioneer serves as
investment adviser (the "Pioneer Funds"). Ms. Durnin serves as a Trustee of 38
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 | 6/30/19
Independent Trustees
Name, Age and Position Term of Office and Other Directorships
Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Thomas J. Perna (68) Trustee since 2006. Private investor (2004 - Director, Broadridge Financial Solutions,
Chairman of the Board Serves until a successor 2008 and 2013 - present); Inc. (investor communications and
and Trustee trustee is elected or earlier Chairman (2008 - 2013) and securities processing provider for financial
retirement or removal. Chief Executive Officer services industry) (2009 - present);
(2008 - 2012), Quadriserv, Director, Quadriserv, Inc. (2005 - 2013);
Inc. (technology products for and Commissioner, New Jersey State Civil
securities lending industry); Service Commission (2011 - 2015)
and Senior Executive Vice
President, The Bank of
New York (financial and
securities services)
(1986 - 2004)
------------------------------------------------------------------------------------------------------------------------------------
David R. Bock (75) Trustee since 2005. Managing Partner, Federal Director of New York Mortgage Trust
Trustee Serves until a successor City Capital Advisors (publicly-traded mortgage REIT)
trustee is elected or earlier (corporate advisory services (2004 - 2009, 2012 - present); Director
retirement or removal. company) (1997 - 2004 and of The Swiss Helvetia Fund, Inc.
2008 - present); Interim (closed-end fund) (2010 - 2017);
Chief Executive Officer, Director of Oxford Analytica, Inc.
Oxford Analytica, Inc. (2008 - 2015); and Director of Enterprise
(privately held research and Community Investment, Inc. (privately-held
consulting company) (2010); affordable housing finance company)
Executive Vice President and (1985 - 2010)
Chief Financial Officer,
I-trax, Inc. (publicly traded
health care services company)
(2004 - 2007); and Executive
Vice President and Chief
Financial Officer, Pedestal
Inc. (internet-based mortgage
trading company) (2000 -
2002); Private Consultant
(1995 - 1997); Managing
Director, Lehman Brothers
(1992 - 1995); and Executive,
The World Bank (1979 - 1992)
------------------------------------------------------------------------------------------------------------------------------------
Diane Durnin (62) Trustee since 2019. Managing Director - Head of None
Trustee Serves until a successor Product Strategy and
trustee is elected or earlier Development, BNY Mellon
retirement or removal. Investment Management
(2012-2018); Vice Chairman -
The Dreyfus Corporation
(2005 - 2018): Executive Vice
President Head of Product,
BNY Mellon Investment
Management (2007 - 2012);
Executive Director- Product
Strategy, Mellon Asset
Management (2005 - 2007);
Executive Vice President Head
of Products, Marketing and
Client Service, Dreyfus
Corporation (2000 - 2005);
and Senior Vice President -
Strategic Product and
Business Development, Dreyfus
Corporation (1994 - 2000)
------------------------------------------------------------------------------------------------------------------------------------
Benjamin M. Friedman (74) Trustee since 2008. William Joseph Maier Trustee, Mellon Institutional Funds
Trustee Serves until a successor Professor of Political Investment Trust and Mellon Institutional
trustee is elected or earlier Economy, Harvard University Funds Master Portfolio (oversaw 17
retirement or removal. (1972 - present) portfolios in fund complex) (1989 - 2008)
------------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/19 119
Independent Trustees (continued)
Name, Age and Position Term of Office and Other Directorships
Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Margaret B.W. Graham (72) Trustee since 1996. Founding Director, None
Trustee Serves until a successor Vice-President and Corporate
trustee is elected or earlier Secretary, The Winthrop
retirement or removal. Group, Inc. (consulting firm)
(1982 - present); Desautels
Faculty of Management,
McGill University (1999 -
2017); and Manager of
Research Operations and
Organizational Learning,
Xerox PARC, Xerox's advance
research center (1990-1994)
------------------------------------------------------------------------------------------------------------------------------------
Lorraine H. Monchak (62) Trustee since 2017. Chief Investment Officer, None
Trustee (Advisory Trustee from 1199 SEIU Funds (healthcare
2014 - 2017) Serves workers union pension funds)
until a successor trustee (2001 - present); Vice
is elected or earlier President - International
retirement or removal. Investments Group, American
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)
------------------------------------------------------------------------------------------------------------------------------------
Marguerite A. Piret (71) Trustee since 1996. President and Chief Executive Director of New America High Income
Trustee Serves until a successor Officer, Metric Financial Fund, Inc. (closed-end investment
trustee is elected or earlier Inc. (formerly known as company) (2004 - present); and Member,
retirement or removal. NewburyPiret Company) Board of Governors, Investment Company
(investment banking firm) Institute (2000 - 2006)
(1981 - present)
------------------------------------------------------------------------------------------------------------------------------------
Fred J. Ricciardi (72) Trustee since 2014. Consultant (investment None
Trustee Serves until a successor company services) (2012 -
trustee is elected or earlier present); Executive Vice
retirement or removal. President, BNY Mellon
(financial and investment
company services) (1969 -
2012); Director, BNY
International Financing Corp.
(financial services) (2002 -
2012); Director, Mellon
Overseas Investment Corp.
(financial services) (2009 -
2012); Director, Financial
Models (technology) (2005 -
2007); Director, BNY Hamilton
Funds, Ireland (offshore
investment companies) (2004 -
2007); Chairman/Director,
AIB/BNY Securities Services,
Ltd., Ireland (financial
services) (1999 - 2006); and
Chairman, BNY Alternative
Investment Services, Inc.
(financial services)
(2005 - 2007)
------------------------------------------------------------------------------------------------------------------------------------
120 Pioneer Bond Fund | Annual Report | 6/30/19
Interested Trustees
Name, Age and Position Term of Office and Other Directorships
Held With the Fund Length of Service Principal Occupation Held by Trustee
------------------------------------------------------------------------------------------------------------------------------------
Lisa M. Jones (57)* Trustee since 2017. Director, CEO and President None
Trustee, President and Serves until a successor of Amundi Pioneer Asset
Chief Executive Officer trustee is elected or earlier Management USA, Inc.
retirement or removal (since September 2014);
Director, CEO and
President of Amundi
Pioneer Asset Management,
Inc. (since September
2014); Director, CEO and
President of Amundi
Pioneer Distributor, Inc.
(since September 2014);
Director, CEO and
President of Amundi
Pioneer Institutional
Asset Management, Inc.
(since September 2014);
Chair, Amundi Pioneer
Asset Management USA, Inc.,
Amundi Pioneer Distributor,
Inc. and Amundi Pioneer
Institutional Asset
Management, Inc. (September
2014 - 2018); Managing
Director, Morgan Stanley
Investment Management (2010 -
2013); Director of
Institutional Business, CEO
of International, Eaton Vance
Management (2005 - 2010); and
Director of Amundi USA, Inc.
(since 2017)
------------------------------------------------------------------------------------------------------------------------------------
Kenneth J. Taubes (61)* Trustee since 2014. Director and Executive Vice None
Trustee Serves until a successor President (since 2008) and
trustee is elected or earlier Chief Investment Officer,
retirement or removal U.S. (since 2010) of Amundi
Pioneer Asset Management USA,
Inc.; Director and Executive
Vice President and Chief
Investment Officer, U.S. of
Amundi Pioneer (since 2008);
Executive Vice President and
Chief Investment Officer,
U.S. of Amundi Pioneer
Institutional Asset
Management, Inc. (since 2009);
Portfolio Manager of Amundi
Pioneer (since 1999); and
Director of Amundi USA, Inc.
(since 2017)
------------------------------------------------------------------------------------------------------------------------------------
* Ms. Jones and Mr. Taubes are Interested Trustees because they are officers or
directors of the Fund's investment adviser and certain of its affiliates.
Pioneer Bond Fund | Annual Report | 6/30/19 121
Fund Officers
Name, Age and Position Term of Office and Other Directorships
Held With the Fund Length of Service Principal Occupation Held by Officer
------------------------------------------------------------------------------------------------------------------------------------
Christopher J. Kelley (54) Since 2010. Serves Vice President and Associate None
Secretary and Chief at the discretion of General Counsel of Amundi
Legal Officer the Board Pioneer since January 2008;
Secretary and Chief Legal
Officer of all of the Pioneer
Funds since June 2010;
Assistant Secretary of all of
the Pioneer Funds from
September 2003 to May 2010;
and Vice President and Senior
Counsel of Amundi Pioneer
from July 2002 to
December 2007
------------------------------------------------------------------------------------------------------------------------------------
Carol B. Hannigan (58) Since 2010. Serves Fund Governance Director of None
Assistant Secretary at the discretion of Amundi Pioneer since December
the Board 2006 and Assistant Secretary
of all the Pioneer Funds
since June 2010; Manager -
Fund Governance of Amundi
Pioneer from December 2003 to
November 2006; and Senior
Paralegal of Amundi Pioneer
from January 2000 to
November 2003
------------------------------------------------------------------------------------------------------------------------------------
Thomas Reyes (56) Since 2010. Serves Senior Counsel of Amundi None
Assistant Secretary at the discretion of Pioneer since May 2013 and
the Board Assistant Secretary of all
the Pioneer Funds since June
2010; and Counsel of Amundi
Pioneer from June 2007 to
May 2013
------------------------------------------------------------------------------------------------------------------------------------
Mark E. Bradley (59) Since 2008. Serves Vice President - Fund None
Treasurer and Chief at the discretion of Treasury of Amundi Pioneer;
Financial and Accounting the Board Treasurer of all of the
Officer Pioneer Funds since March
2008; Deputy Treasurer of
Amundi Pioneer from March
2004 to February 2008; and
Assistant Treasurer of all
of the Pioneer Funds from
March 2004 to February 2008
------------------------------------------------------------------------------------------------------------------------------------
Luis I. Presutti (54) Since 2000. Serves Director - Fund Treasury of None
Assistant Treasurer at the discretion of Amundi Pioneer; and Assistant
the Board Treasurer of all of the
Pioneer Funds
------------------------------------------------------------------------------------------------------------------------------------
122 Pioneer Bond Fund | Annual Report | 6/30/19
Name, Age and Position Term of Office and Other Directorships
Held With the Fund Length of Service Principal Occupation Held by Officer
------------------------------------------------------------------------------------------------------------------------------------
Gary Sullivan (61) Since 2002. Serves Senior Manager - Fund None
Assistant Treasurer at the discretion of Treasury of Amundi Pioneer;
the Board and Assistant Treasurer of
all of the Pioneer Funds
------------------------------------------------------------------------------------------------------------------------------------
David F. Johnson (39) Since 2009. Serves Senior Manager - Fund None
Assistant Treasurer at the discretion of Treasury of Amundi Pioneer
the Board since November 2008;
Assistant 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
------------------------------------------------------------------------------------------------------------------------------------
John Malone (48) Since 2018. Serves Managing Director, Chief None
Chief Compliance Officer at the discretion of Compliance Officer of Amundi
the Board Pioneer Asset Management;
Amundi Pioneer Institutional
Asset Management, Inc.; and
the Pioneer Funds since
September 2018; and Chief
Compliance Officer of Amundi
Pioneer Distributor, Inc.
since January 2014.
------------------------------------------------------------------------------------------------------------------------------------
Kelly O'Donnell (48) Since 2006. Serves Vice President - Amundi None
Anti-Money Laundering at the discretion of Pioneer Asset Management; and
Officer the Board Anti-Money Laundering
Officer of all the Pioneer
Funds since 2006
------------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/19 123
This page is for your notes.
124 Pioneer Bond Fund | Annual Report | 6/30/19
How to Contact Amundi Pioneer
We are pleased to offer a variety of convenient ways for you to contact us for
assistance or information.
Call us for:
--------------------------------------------------------------------------------
Account Information, including existing accounts,
new accounts, prospectuses, applications
and service forms 1-800-225-6292
FactFoneSM for automated fund yields, prices,
account information and transactions 1-800-225-4321
Retirement plans information 1-800-622-0176
Write to us:
--------------------------------------------------------------------------------
Amundi Pioneer
P.O. Box 219427
Kansas City, MO 64121-9427
Our toll-free fax 1-800-225-4240
Our internet e-mail address us.askamundipioneer@amundipioneer.com
(for general questions about Amundi Pioneer only)
Visit our web site: www.amundipioneer.com/us
This report must be preceded or accompanied by a prospectus.
The Fund files a complete schedule of portfolio holdings with the Securities
and Exchange Commission for the first and third quarters of each fiscal year as
an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form
N-PORT by visiting the Commission's web site at https://www.sec.gov.
[LOGO] Amundi Pioneer
==============
ASSET MANAGEMENT
Amundi Pioneer Asset Management, Inc.
60 State Street
Boston, MA 02109
www.amundipioneer.com/us
Securities offered through Amundi Pioneer Distributor, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
[C] 2019 Amundi Pioneer Asset Management 19398-13-0819
ITEM 2. CODE OF ETHICS.
(a) Disclose whether, as of the end of the period covered by the report, the
registrant has adopted a code of ethics that applies to the registrant's
principal executive officer, principal financial officer, principal accounting
officer or controller, or persons performing similar functions, regardless of
whether these individuals are employed by the registrant or a third party. If
the registrant has not adopted such a code of ethics, explain why it has not
done so.
The registrant has adopted, as of the end of the period covered by this report,
a code of ethics that applies to the registrant's principal executive officer,
principal financial officer, principal accounting officer and controller.
(b) For purposes of this Item, the term "code of ethics" means written standards
that are reasonably designed to deter wrongdoing and to promote:
(1) Honest and ethical conduct, including the ethical handling of actual
or apparent conflicts of interest between personal and professional
relationships;
(2) Full, fair, accurate, timely, and understandable disclosure in
reports and documents that a registrant files with, or submits to, the
Commission and in other public communications made by the registrant;
(3) Compliance with applicable governmental laws, rules, and
regulations;
(4) The prompt internal reporting of violations of the code to an
appropriate person or persons identified in the code; and
(5) Accountability for adherence to the code.
(c) The registrant must briefly describe the nature of any amendment, during the
period covered by the report, to a provision of its code of ethics that applies
to the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, and that relates to any element of the code of
ethics definition enumerated in paragraph (b) of this Item. The registrant must
file a copy of any such amendment as an exhibit pursuant to Item 10(a), unless
the registrant has elected to satisfy paragraph (f) of this Item by posting its
code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by
undertaking to provide its code of ethics to any person without charge, upon
request, pursuant to paragraph (f)(3) of this Item.
The registrant has made no amendments to the code of ethics during the period
covered by this report.
(d) If the registrant has, during the period covered by the report, granted a
waiver, including an implicit waiver, from a provision of the code of ethics to
the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, that relates to one or more of the items set forth
in paragraph (b) of this Item, the registrant must briefly describe the nature
of the waiver, the name of the person to whom the waiver was granted, and the
date of the waiver.
Not applicable.
(e) If the registrant intends to satisfy the disclosure requirement under
paragraph (c) or (d) of this Item regarding an amendment to, or a waiver from,
a provision of its code of ethics that applies to the registrant's principal
executive officer, principal financial officer, principal accounting officer or
controller, or persons performing similar functions and that relates to any
element of the code of ethics definition enumerated in paragraph (b) of this
Item by posting such information on its Internet website, disclose the
registrant's Internet address and such intention.
Not applicable.
(f) The registrant must:
(1) File with the Commission, pursuant to Item 12(a)(1), a copy of
its code of ethics that applies to the registrant's principal
executive officer,principal financial officer, principal accounting
officer or controller, or persons performing similar functions,
as an exhibit to its annual
report on this Form N-CSR (see attachment);
(2) Post the text of such code of ethics on its Internet website and
disclose, in its most recent report on this Form N-CSR, its Internet
address and the fact that it has posted such code of ethics on its
Internet website; or
(3) Undertake in its most recent report on this Form N-CSR to provide to
any person without charge, upon request, a copy of such code of ethics
and explain the manner in which such request may be made.
See Item 10(2)
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant's board of trustees has determined that
the registrant either:
(i) Has at least one audit committee financial expert serving on its audit
committee; or
(ii) Does not have an audit committee financial expert serving on its audit
committee.
The registrant's Board of Trustees has determined that the registrant has at
least one audit committee financial expert.
(2) If the registrant provides the disclosure required by paragraph
(a)(1)(i) of this Item, it must disclose the name of the audit committee
financial expert and whether that person is "independent." In order to be
considered "independent" for purposes of this Item, a member of an audit
committee may not, other than in his or her capacity as a member of the audit
committee, the board of trustees, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other
compensatory fee from the issuer; or
(ii) Be an "interested person" of the investment company as defined in
Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
Mr. David R. Bock, 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.
Pioneer Bond Fund:
The audit fees for the Fund were $60,000
payable to Ernst & Young LLP for the year ended
June 30, 2019 and $60,000 payable
for the year ended June 30, 2018.
(b) Disclose, under the caption AUDIT-RELATED FEES, the aggregate fees billed in
each of the last two fiscal years for assurance and related services by the
principal accountant that are reasonably related to the performance of the audit
of the registrant's financial statements and are not reported under
paragraph (a) of this Item. Registrants shall describe the nature of the
services comprising the fees disclosed under this category.
Pioneer Bond Fund:
Audit-Related Fees
There were no audit-related services in 2019 or 2018.
(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.
Pioneer Bond Fund:
The tax fees for the Fund were $17,197
payable to Ernst & Young LLP for the year ended
June 30, 2019 and $17,197
for the year ended June 30, 2018.
(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.
Pioneer Bond Fund:
Other Fees
There were no other fees in 2019 or 2018.
(e) (1) Disclose the audit committee's pre-approval policies and procedures
described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
PIONEER FUNDS
APPROVAL OF AUDIT, AUDIT-RELATED, TAX AND OTHER SERVICES
PROVIDED BY THE INDEPENDENT AUDITOR
SECTION I - POLICY PURPOSE AND APPLICABILITY
The Pioneer Funds recognize the importance of maintaining the independence of
their outside auditors. Maintaining independence is a shared responsibility
involving Amudi Pioneer Asset Management, Inc, the audit committee and
the independent auditors.
The Funds recognize that a Fund's independent auditors: 1) possess knowledge of
the Funds, 2) are able to incorporate certain services into the scope of the
audit, thereby avoiding redundant work, cost and disruption of Fund personnel
and processes, and 3) have expertise that has value to the Funds. As a result,
there are situations where it is desirable to use the Fund's independent
auditors for services in addition to the annual audit and where the potential
for conflicts of interests are minimal. Consequently, this policy, which is
intended to comply with Rule 210.2-01(C)(7), sets forth guidelines and
procedures to be followed by the Funds when retaining the independent audit firm
to perform audit, audit-related tax and other services under those
circumstances, while also maintaining independence.
Approval of a service in accordance with this policy for a Fund shall also
constitute approval for any other Fund whose pre-approval is required pursuant
to Rule 210.2-01(c)(7)(ii).
In addition to the procedures set forth in this policy, any non-audit services
that may be provided consistently with Rule 210.2-01 may be approved by the
Audit Committee itself and any pre-approval that may be waived in accordance
with Rule 210.2-01(c)(7)(i)(C) is hereby waived.
Selection of a Fund's independent auditors and their compensation shall be
determined by the Audit Committee and shall not be subject to this policy.
SECTION II - POLICY
---------------- -------------------------------- -------------------------------------------------
SERVICE SERVICE CATEGORY DESCRIPTION SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
CATEGORY
---------------- -------------------------------- -------------------------------------------------
I. AUDIT Services that are directly o Accounting research assistance
SERVICES related to performing the o SEC consultation, registration
independent audit of the Funds statements, and reporting
o Tax accrual related matters
o Implementation of new accounting
standards
o Compliance letters (e.g. rating agency
letters)
o Regulatory reviews and assistance
regarding financial matters
o Semi-annual reviews (if requested)
o Comfort letters for closed end
offerings
---------------- -------------------------------- -------------------------------------------------
II. Services which are not o AICPA attest and agreed-upon procedures
AUDIT-RELATED prohibited under Rule o Technology control assessments
SERVICES 210.2-01(C)(4) (the "Rule") o Financial reporting control assessments
and are related extensions of o Enterprise security architecture
the audit services support the assessment
audit, or use the
knowledge/expertise gained
from the audit procedures as a
foundation to complete the
project. In most cases, if
the Audit-Related Services are
not performed by the Audit
firm, the scope of the Audit
Services would likely
increase. The Services are
typically well-defined and
governed by accounting
professional standards (AICPA,
SEC, etc.)
---------------- -------------------------------- -------------------------------------------------
------------------------------------- ------------------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- ------------------------------------
o "One-time" pre-approval o A summary of all such
for the audit period for all services and related fees
pre-approved specific service reported at each regularly
subcategories. Approval of the scheduled Audit Committee
independent auditors as meeting.
auditors for a Fund shall
constitute pre approval for
these services.
------------------------------------- ------------------------------------
o "One-time" pre-approval o A summary of all such
for the fund fiscal year within services and related fees
a specified dollar limit (including comparison to
for all pre-approved specified dollar limits)
specific service subcategories reported quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limit for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for Audit-Related
Services not denoted as
"pre-approved", or
to add a specific service
subcategory as "pre-approved"
------------------------------------- ------------------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- --------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
III. TAX SERVICES Services which are not o Tax planning and support
prohibited by the Rule, o Tax controversy assistance
if an officer of the Fund o Tax compliance, tax returns, excise
determines that using the tax returns and support
Fund's auditor to provide o Tax opinions
these services creates
significant synergy in
the form of efficiency,
minimized disruption, or
the ability to maintain a
desired level of
confidentiality.
----------------------- --------------------------- -----------------------------------------------
------------------------------------- -------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- -------------------------
------------------------------------- -------------------------
o "One-time" pre-approval o A summary of
for the fund fiscal year all such services and
within a specified dollar limit related fees
(including comparison
to specified dollar
limits) reported
quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limits for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for tax services not
denoted as pre-approved, or to add a specific
service subcategory as
"pre-approved"
------------------------------------- -------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- --------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
IV. OTHER SERVICES Services which are not o Business Risk Management support
prohibited by the Rule, o Other control and regulatory
A. SYNERGISTIC, if an officer of the Fund compliance projects
UNIQUE QUALIFICATIONS determines that using the
Fund's auditor to provide
these services creates
significant synergy in
the form of efficiency,
minimized disruption,
the ability to maintain a
desired level of
confidentiality, or where
the Fund's auditors
posses unique or superior
qualifications to provide
these services, resulting
in superior value and
results for the Fund.
----------------------- --------------------------- -----------------------------------------------
--------------------------------------- ------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- --------------------------
o "One-time" pre-approval o A summary of
for the fund fiscal year within all such services and
a specified dollar limit related fees
(including comparison
to specified dollar
limits) reported
quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limits for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for "Synergistic" or
"Unique Qualifications" Other
Services not denoted as
pre-approved to the left, or to
add a specific service
subcategory as "pre-approved"
------------------------------------- --------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- ------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PROHIBITED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- ------------------------- -----------------------------------------------
PROHIBITED SERVICES Services which result 1. Bookkeeping or other services
in the auditors losing related to the accounting records or
independence status financial statements of the audit
under the Rule. client*
2. Financial information systems design
and implementation*
3. Appraisal or valuation services,
fairness* opinions, or
contribution-in-kind reports
4. Actuarial services (i.e., setting
actuarial reserves versus actuarial
audit work)*
5. Internal audit outsourcing services*
6. Management functions or human
resources
7. Broker or dealer, investment
advisor, or investment banking services
8. Legal services and expert services
unrelated to the audit
9. Any other service that the Public
Company Accounting Oversight Board
determines, by regulation, is
impermissible
----------------------- ------------------------- -----------------------------------------------
------------------------------------------- ------------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------------- ------------------------------
o These services are not to be o A summary of all
performed with the exception of the(*) services and related
services that may be permitted fees reported at each
if they would not be subject to audit regularly scheduled
procedures at the audit client (as Audit Committee meeting
defined in rule 2-01(f)(4)) level will serve as continual
the firm providing the service. confirmation that has
not provided any
restricted services.
------------------------------------------- ------------------------------
--------------------------------------------------------------------------------
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
o For all projects, the officers of the Funds and the Fund's auditors will each
make an assessment to determine that any proposed projects will not impair
independence.
o Potential services will be classified into the four non-restricted service
categories and the "Approval of Audit, Audit-Related, Tax and Other
Services" Policy above will be applied. Any services outside the specific
pre-approved service subcategories set forth above must be specifically
approved by the Audit Committee.
o At least quarterly, the Audit Committee shall review a report summarizing the
services by service category, including fees, provided by the Audit firm as
set forth in the above policy.
--------------------------------------------------------------------------------
(2) Disclose the percentage of services described in each of paragraphs (b)
through (d) of this Item that were approved by the audit committee pursuant
to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
Non-Audit Services
Beginning with non-audit service contracts entered
into on or after May 6, 2003, the effective date of the
new SEC pre-approval rules, the Fund's audit
committee is required to pre-approve services to
affiliates defined by SEC rules to the extent that the
services are determined to have a direct impact on the
operations or financial reporting of the Fund. For the
years ended June 30, 2019 and 2018, there were no
services provided to an affiliate that required the
Fund's audit committee pre-approval.
(f) If greater than 50 percent, disclose the percentage of hours expended on the
principal accountants engagement to audit the registrant's financial statements
for the most recent fiscal year that were attributed to work performed by
persons other than the principal accountant's full-time, permanent employees.
N/A
(g) Disclose the aggregate non-audit fees billed by the registrants accountant
for services rendered to the registrant, and rendered to the registrants
investment adviser (not including any sub-adviser whose role is primarily
portfolio management and is subcontracted with or overseen by another investment
adviser), and any entity controlling, controlled by, or under common control
with the adviser that provides ongoing services to the registrant for each of
the last two fiscal years of the registrant.
The aggregate non-audit fees for the Fund were $17,197
payable to Ernst & Young LLP for the year ended
June 30, 2019 and $17,197 for the year ended
June 30, 2018.
(h) Disclose whether the registrants audit committee of the board of trustees
has considered whether the provision of non-audit services that were rendered to
the registrants investment adviser (not including any subadviser whose role is
primarily portfolio management and is subcontracted with or overseen by another
investment adviser), and any entity controlling, controlled by, or under common
control with the investment adviser that provides ongoing services to the
registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of
Rule 2-01 of Regulation S-X is compatible with maintaining the principal
accountant's independence.
The Fund's audit committee of the Board of Trustees
has considered whether the provision of non-audit
services that were rendered to the Affiliates (as
defined) that were not pre- approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is
compatible with maintaining the principal accountant's
independence.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
(a) If the registrant is a listed issuer as defined in Rule 10A-3
under the Exchange Act (17 CFR 240.10A-3), state whether
or not the registrant has a separately-designated standing
audit committee established in accordance with Section
3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)).
If the registrant has such a committee, however designated,
identify each committee member. If the entire board of directors
is acting as the registrant's audit committee as specified in
Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)),
so state.
N/A
(b) If applicable, provide the disclosure required by Rule 10A-3(d)
under the Exchange Act (17 CFR 240.10A-3(d)) regarding an exemption
from the listing standards for audit committees.
N/A
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule of Investments in securities of unaffiliated issuers
as of the close of the reporting period as set forth in 210.1212
of Regulation S-X [17 CFR 210.12-12], unless the schedule is
included as part of the report to shareholders filed under Item
1 of this Form.
Included in Item 1
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR
CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
A closed-end management investment company that is filing an annual report on
this Form N-CSR must, unless it invests exclusively in non-voting securities,
describe the policies and procedures that it uses to determine how to vote
proxies relating to portfolio securities, including the procedures that the
company uses when a vote presents a conflict between the interests of its
shareholders, on the one hand, and those of the company's investment adviser;
principal underwriter; or any affiliated person (as defined in Section 2(a)(3)
of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules
thereunder) of the company, its investment adviser, or its principal
underwriter, on the other. Include any policies and procedures of the company's
investment adviser, or any other third party, that the company uses, or that are
used on the company's behalf, to determine how to vote proxies relating to
portfolio securities.
Not applicable to open-end management investment companies.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
(a) If the registrant is a closed-end management investment company that
is filing an annual report on this Form N-CSR,provide the following
information:
(1) State the name, title, and length of service of the person or persons
employed by or associated with the registrant or an investment adviser
of the registrant who are primarily responsible for the day-to-day management
of the registrant's portfolio ("Portfolio Manager"). Also state each Portfolio
Manager's business experience during the past 5 years.
Not applicable to open-end management investment companies.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a) If the registrant is a closed-end management investment company,
in the following tabular format, provide the information specified in
paragraph (b) of this Item with respect to any purchase made by or on
behalf of the registrant or any affiliated purchaser, as defined in
Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of
shares or other units of any class of the registrant's equity securities
that is registered by the registrant pursuant to Section 12 of the
Exchange Act (15 U.S.C. 781).
Not applicable to open-end management investment companies.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders
may recommend nominees to the registrant's board of directors, where
those changes were implemented after the registrant last provided
disclosure in response to the requirements of Item 407(c)(2)(iv) of
Regulation S-R(17 CFR 229.407)(as required by Item 22(b)(15))
of Schedule 14A (17 CFR 240.14a-101), or this Item.
There have been no material changes to the procedures by which the
shareholders may recommend nominees to the registrant's board of
directors since the registrant last provided disclosure in response
to the requirements of Item 407(c)(2)(iv) of Regulation S-R of Schedule 14(A)
in its definitive proxy statement, or this item.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive and
principal financials officers, or persons performing similar functions,
regarding the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph,
based on the evaluation of these controls and procedures required by Rule
30a-3(b) under the Act (17 CFR 270.30(a)-3(b) and Rules 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The registrant's principal executive officer
and principal financial officer have
concluded that the registrant's disclosure
controls and procedures are effective based
on the evaluation of these controls and
procedures as of a date within 90 days of the
filing date of this report.
(b) Disclose any change in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that
occured during the second fiscal quarter of the period covered by this report
that has materially affected, or is reasonably likely to materially affect,
the registrant's internal control over financial reporting.
There were no significant changes in the
registrant's internal control over financial
reporting that occurred during the second
fiscal quarter of the period covered by this
report that have materially affected, or are
reasonably likely to materially affect, the
registrant's internal control over financial
reporting.
The registrant's principal executive officer and principal financial
officer, however, voluntarily are reporting the following information:
In August of 2006 the registrant's investment adviser
enhanced its internal procedures for reporting performance
information required to be included in prospectuses.
Those enhancements involved additional internal controls
over the appropriateness of performance data
generated for this purpose. Such enhancements were made
following an internal review which identified
prospectuses relating to certain classes of shares of
a limited number of registrants where, inadvertently,
performance information not reflecting the deduction of
applicable sales charges was included. Those prospectuses
were revised, and the revised prospectuses were distributed to
shareholders.
Item 12. Disclosure of Securities Lending Activities for Closed-End
Management Investment Companies.
(a) If the registrant is a closed-end management investment company,
provide the following dollar amounts of income and compensation related
to the securities lending activities of the registrant during its most
recent fiscal year:
N/A
(1) Gross income from securities lending activities;
N/A
(2) All fees and/or compensation for each of the following securities
lending activities and related services: any share of revenue generated
by the securities lending program paid to the securities lending agent(s)
(revenue split); fees paid for cash collateral management services
(including fees deducted from a pooled cash collateral reinvestment
vehicle) that are not included in the revenue split; administrative
fees that are not included in the revenue split; fees for
indemnification that are not included in the revenue split; rebates
paid to borrowers; and any other fees relating to the securities lending
program that are not included in the revenue split, including a description
of those other fees;
N/A
(3) The aggregate fees/compensation disclosed pursuant to paragraph (2); and
N/A
(4) Net income from securities lending activities (i.e., the dollar amount in
paragraph (1) minus the dollar amount in paragraph (3)).
If a fee for a service is included in the revenue split, state that the fee
is included in the revenue split.
N/A
(b) If the registrant is a closed-end management investment company, describe
the services provided to the registrant by the securities lending agent in
the registrants most recent fiscal year.
N/A
ITEM 13. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the
exhibits in the sequence indicated.
(1) Any code of ethics, or amendment thereto, that is the subject of the
disclosure required by Item 2, to the extent that the registrant intends to
satisfy the Item 2 requirements through filing of an exhibit.
(2) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2(a) under the Act
(17 CFR 270.30a-2(a)) , exactly as set forth below:
Filed herewith.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Bond Fund
By (Signature and Title)* /s/ Lisa M. Jones
Lisa M. Jones, President & Chief Executive Officer
Date August 29, 2019
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, 2019
By (Signature and Title)* /s/ Mark E. Bradley
Mark E. Bradley, Treasurer & Chief Accounting & Financial Officer
Date August 29, 2019
* Print the name and title of each signing officer under his or her signature.