UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02864
Pioneer Bond Fund
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Terrence J. Cullen, Pioneer Investment Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: June 30
Date of reporting period: July 1, 2016 through June 30, 2017
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, 2017
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Ticker Symbols:
Class A PIOBX
Class C PCYBX
Class K PBFKX
Class R PBFRX
Class Y PICYX
[LOGO] Amundi Pioneer
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ASSET MANAGEMENT
visit us: amundipioneer.com
Table of Contents
President's Letter 2
Portfolio Management Discussion 4
Portfolio Summary 10
Prices and Distributions 11
Performance Update 12
Comparing Ongoing Fund Expenses 17
Schedule of Investments 19
Financial Statements 96
Notes to Financial Statements 105
Report of Independent Registered Public Accounting Firm 122
Additional Information 123
Approval of New and Interim Management Agreements 125
Trustees, Officers and Service Providers 133
Pioneer Bond Fund | Annual Report | 6/30/17 1
President's Letter
U.S. markets have continued to generate positive returns during the first
several months of 2017, with so-called "risk" assets, such as equities and
credit-sensitive bonds, posting solid gains. U.S. equities, as measured by the
Standard & Poor's 500 Index, returned slightly more than 6% in the first
calendar quarter of the year and more than 3% for the second quarter. Meanwhile,
high-yield securities have dominated bond market performance thus far in 2017.
The post-election market momentum we witnessed in the U.S. during the final
weeks of the fourth quarter of 2016 slowed only when oil prices slumped in
March, due to both higher-than-expected inventories and concerns over whether
OPEC (Organization of Petroleum Exporting Countries) would continue its supply
cuts. Not even the Federal Reserve System's (the Fed's) two rate hikes since
March, nor Britain's trigger of Article 50 to begin the "Brexit" process caused
any dramatic sell-off of risk assets. In fact, we are encouraged by the more
hawkish stance of the Fed with regard to interest rates, in light of our view
that current U.S. bond yields do not fairly reflect the prospective levels of
economic activity and inflation. We expect the Fed to continue to tighten
monetary policy, with at least one more rate hike likely to occur before the end
of 2017.
While U.S. gross domestic product (GDP) did slow in the first quarter, ending up
at 1.4% after revisions, the expectation is for GDP growth to pick-up in the
second quarter, with a solid consumer leading the way. It is our view that the
U.S. economy may lead all developed nations in 2017, with GDP growth in excess
of 2% for the full year, even if proposed tax and regulatory reforms are not
passed into law in the near future. We also believe solid domestic employment
figures should continue to support consumption and the housing market, and that
stronger corporate profits and increased government spending may contribute to
economic growth in 2018 and beyond. In addition, as we monitor global Purchasing
Manager Indices (PMIs), we note that their numbers are increasing, which
suggests that growth in global economies is also improving. (PMIs are used to
measure the economic health of the manufacturing sector.)
There are, as always, some risks to our outlook. First, the market already has
priced in a good deal of the Trump economic reform platform, and that could lead
to near-term disappointment if Congressional follow-through does not happen this
year. The future of the Affordable Care Act (ACA) is another potential concern,
as Congressional leaders have, thus far, failed to generate
2 Pioneer Bond Fund | Annual Report | 6/30/17
enough support to get new health care legislation approved by both houses.
However, if a bill is eventually passed that either eliminates or significantly
alters the ACA, the new law will undoubtedly have an effect on the health care
sector, one of the largest segments of the U.S. economy. Geopolitical risks, of
course, remain a potential headwind, given ongoing strife in the Middle East and
renewed tensions on the Korean Peninsula.
While our current outlook is generally optimistic, conditions can and often do
change, and while passive investment strategies may have a place in one's
overall portfolio, it is our view that all investment decisions are active
choices.
Throughout our history, we have believed in the importance of active management.
The active decisions to invest in equities or fixed-income securities are made
by a team of experienced investment professionals focusing on identifying value
across global markets using proprietary research, careful risk management, and a
long-term perspective. We believe our shareowners can benefit from the
experience and tenure of our investment teams as well as the insights generated
from our extensive research process.
As always, and particularly during times of market uncertainty, we encourage you
to work with your financial advisor to develop an overall investment plan that
addresses both your short- and long-term goals, and to implement such a plan in
a disciplined manner.
We greatly appreciate the trust you have placed in us and look forward to
continuing to serve you in the future.
Sincerely,
/s/ Lisa M. Jones
Lisa M. Jones
Head of the Americas, President and CEO of US
Amundi Pioneer Asset Management USA, Inc.
June 30, 2017
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 | 6/30/17 3
Portfolio Management Discussion | 6/30/17
Important Note: On July 3, 2017, Amundi acquired Pioneer Investments, a group of
asset management companies located throughout the world. Amundi, one of the
world's largest asset managers, is headquartered in Paris, France. As a result
of the transaction, Pioneer Investment Management, Inc., the Fund's investment
adviser, became an indirect wholly owned subsidiary of Amundi and Amundi's
wholly owned subsidiary, Amundi USA, Inc. Prior to July 3, 2017, Pioneer
Investments was owned by Pioneer Global Asset Management S.p.A., a wholly owned
subsidiary of UniCredit S.p.A.
In connection with the transaction, the names of the Fund's investment adviser
and principal underwriter changed. Effective July 3, 2017, the name of Pioneer
Investment Management, Inc. changed to Amundi Pioneer Asset Management, Inc. and
the name of Pioneer Funds Distributor, Inc. changed to Amundi Pioneer
Distributor, Inc.
This transaction does not impact your existing relationship with Pioneer
Investments, your advisor, or the methods you use to communicate with us, as the
investor contact telephone numbers and services you expect will remain the same.
We are excited, however, to be launching a new website representing the combined
company. Come visit us at: www.amundipioneer.com
The bond market passed through several different phases during the 12-month
period ended June 30, 2017, as investors changed their expectations about the
U.S. economy's ability to show accelerated growth rates. In the following
interview, Kenneth J. Taubes and Charles Melchreit discuss the factors that
affected the performance of Pioneer Bond Fund during the 12-month period ended
June 30, 2017. Mr. Taubes, Executive Vice President, Chief Investment Officer,
U.S. Investment Management, and a portfolio manager at Amundi Pioneer Asset
Management, Inc. (Amundi Pioneer), is responsible for the daily management of
the Fund, along with Mr. Melchreit, Director of Investment Grade, a senior vice
president and a portfolio manager at Amundi Pioneer.
Q How did the Fund perform during the 12-month period ended June 30, 2017?
A Pioneer Bond Fund's Class A shares returned 2.48% at net asset value during
the 12-month period ended June 30, 2017, while the Fund's benchmark, the
Bloomberg Barclays U.S. Aggregate Bond Index, returned -0.31%. During the
same period, the average return of the 46 mutual funds in Lipper's
Corporate Debt, A-rated Underlying Funds Category was 1.17%, and the
average return of the 980 mutual funds in Morningstar's Intermediate-Term
Bond Funds Category was 0.94%.
4 Pioneer Bond Fund | Annual Report | 6/30/17
Q How would you describe the investment environment during the 12-month
period ended June 30, 2017?
A Over the 12-month period, investor sentiment reflected varying degrees of
confidence in the underlying strength of the domestic economy. The period
began in July 2016, and the dominant market sentiment at the time was one
of restrained optimism that the U.S. economy would continue to expand
modestly. During that time frame, longer-maturity, higher-quality debt
benefited from declining interest rates and the belief that inflation was
well under control, while lower-rated, more credit-sensitive securities
performed well on the belief that economic growth would persist.
Those market trends changed abruptly in November 2016 with the victory of
Donald Trump in the presidential election as well as assurance of continued
Republican control of Congress. The election results seemed to usher in
greater confidence that the pace of economic growth would accelerate, based
on the expectation that President Trump and the Republicans would enact
growth-oriented fiscal policies. The late-2016 "Trump rally," which saw
Treasury yields rise while credit spreads narrowed, continued into the
first quarter of 2017, but then faded as investors grew less optimistic
that economic growth would intensify any time soon. (Credit spreads are
commonly defined as the differences in yield between Treasuries and other
types of fixed-income securities with similar maturities.) The loss of the
post-election market momentum was based in part on weakening confidence
that Republicans - in the wake of their failure to pass legislation that
would alter or repeal the Affordable Care Act - could quickly reach
agreement on major economic policies such as tax reform and infrastructure
investment. However, the fact that the rate of U.S. economic growth did not
accelerate, but instead continued along at a relatively modest, and even
slower rate in the first quarter of 2017, also contributed to the
less-enthusiastic market sentiment. Despite a consensus view that economic
fundamentals in general remained solid, persistently low wage inflation,
even with healthy gains in employment, was viewed as a sign of potential
weakness. Meanwhile, the U.S. Federal Reserve (the Fed) tightened monetary
policy during the period, raising the key Federal funds rate - which has a
major influence on short-term interest rates - three times between December
2016 and June 2017.
All of those factors led to a climate of lowered expectations that
dominated market sentiment through the final few months of the Fund's
fiscal year.
Pioneer Bond Fund | Annual Report | 6/30/17 5
Over the 12-month period, the yield curve - which reflects the differences
in yields of securities of varying maturities - flattened, as the market
witnessed a change from an environment of exceptionally low rates to one in
which yields of securities with shorter maturities moved higher, while
yields of securities with longer maturities (ranging from 10 to 30 years)
moved lower.
In general, the credit-sensitive sectors, which are more reactive to
changes in the economic picture, performed better than
interest-rate-sensitive securities, the performance of which more closely
reflects changing expectations for interest rates. For example, during the
12-month period, U.S. high-yield securities performed exceptionally well,
returning 12.75%, while the Fund's benchmark, the Bloomberg Barclays U.S.
Aggregate Bond Index (the Bloomberg Barclays Index), a
market-value-weighted measure of Treasury and agency issues, corporate bond
issues, and mortgage-backed securities, returned -0.31%.
Q What were the principal factors that affected the Fund's performance
relative to the benchmark Bloomberg Barclays Index during the 12-month
period ended June 30, 2017?
A The Fund posted solid benchmark-relative performance during the 12-month
period. The main driver of the Fund's outperformance of the Bloomberg
Barclays Index was sector allocation, though security selection results and
duration positioning also contributed to positive benchmark-relative
returns. (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.)
With regard to asset allocation, the portfolio's overweighting of the
spread sectors, which offer yield advantages over Treasuries, was a major
advantage for the Fund, especially our emphasis on owning more
credit-sensitive debt, including corporate bonds, asset-backed securities
(ABS) and non-government mortgages. In investing the Fund in the credit
sectors, we had a bias in the portfolio that favored debt with lower
ratings, which also helped support benchmark-relative results. In addition,
the Fund's significant underweighting of weak-performing U.S. Treasuries,
which comprise 36% of the Bloomberg Barclays Index, was a significant
positive contributor to benchmark-relative results. Within the portfolio's
Treasury allocation, we also invested in some Treasury Inflation Protected
Securities (TIPS), the face values of which adjust based on prevailing
inflation rates. While the Fund's exposure to TIPS did not help relative
returns in the first half of the period,
6 Pioneer Bond Fund | Annual Report | 6/30/17
the TIPS did contribute positively to relative returns over the period's
final six months. A small position in event-linked insurance industry bonds
also aided benchmark-relative performance during the period.
Security selection also was a major positive for the Fund's
benchmark-relative performance during the 12 months, especially among
holdings in financials, including banks and insurance companies, and in
industrial bonds.
The Fund's short-duration positioning relative to the Bloomberg Barclays
Index was another significant positive contributor to benchmark-relative
returns. In addition, our decision to de-emphasize bonds with maturities of
two- to five-years aided relative performance, as those securities
underperformed due to increasing yields, which led to depreciating bond
prices. At the end of the period, on June 30, 2017, the Fund's average
effective duration was 5.30 years.
The one major detractor from the Fund's benchmark-relative performance
during the period was the portfolio's allocation to lower-risk (that is,
shorter duration) commercial mortgage-backed securities (CMBS) within the
lower-rated universe. Those positions struggled as the strong "risk-on"
market environment favored riskier securities.
Q Did the Fund have any investments in derivative securities during the
12-month period ended June 30, 2017? If so, did they have any material
impact on relative performance?
A Yes, we invested the Fund in Treasury futures as part of our strategy to
maintain a shorter-than-benchmark duration. The strategy and the use of the
futures in its implementation helped relative performance. In addition, the
Fund had an allocation to credit default swaps, which were used to gain
additional exposure to the high-yield sector. The swaps had no material
impact on the Fund's benchmark-relative performance.
Q What factors affected the Fund's yield, or distributions to shareholders,
during the 12-month period ended June 30, 2017?
A The Fund's yield rose slightly over the 12 months, primarily as the result
of rising interest rates.
Q What is your investment outlook?
A In preparing for the second half of 2017, we have shortened the Fund's
duration very modestly, as we think it is increasingly likely that interest
rates will rise - especially after the declines in longer- and
intermediate-term rates we have seen of late. In doing this, we have added
to the Fund's positions in securities with five- and 10-year maturities,
while cutting back
Pioneer Bond Fund | Annual Report | 6/30/17 7
on the portfolio's exposure to longer-term securities. The Fund also has a
small position in TIPS, as we noted earlier, as we believe we may begin to
see a slight increase in inflationary pressures over time.
By sector, we have slightly reduced the Fund's exposures to
credit-sensitive bonds such as corporates and ABS, after their good
performance in recent months. While the Fund remains overweight to credit,
we have cut back the portfolio's positions more so due to concerns about
higher relative valuations than because of any worries about the health of
the economy, which appears fundamentally sound. At the same time, we have
maintained increased exposures to securitized mortgages, including
non-government agency mortgages, as we think the domestic housing industry
should do well as the economy expands at a modest pace, with gross domestic
product (GDP) growth averaging roughly 2% annually. We do not expect a
dramatic acceleration in GDP growth, as we remain uncertain that the Trump
administration and the Congress can reach agreement in the near term on any
tax reform or infrastructure spending legislation that would add
significant fiscal stimulus to the economy.
We anticipate that the Fed will continue to gradually tighten monetary
policy. However, that is already widely anticipated, and so we don't expect
the Fed's tightening will have a major impact on the capital markets.
8 Pioneer Bond Fund | Annual Report | 6/30/17
Please refer to the Schedule of Investments on pages 19-95 for a full listing of
Fund securities.
All investments are subject to risk, including the possible loss of principal.
In the past several years, financial markets have experienced increased
volatility, depressed valuations, decreased liquidity and heightened
uncertainty. These conditions may continue, recur, worsen or spread.
When interest rates rise, the prices of fixed-income securities in the Fund will
generally fall. Conversely, when interest rates fall, the prices of fixed-income
securities in the Fund will generally rise.
Investments in the Fund are subject to possible loss due to the financial fail-
ure of the issuers of the underlying securities and their inability to meet
their debt obligations.
Prepayment risk is the chance that an issuer may exercise its right to prepay
its security, if falling interest rates prompt the issuer to do so. Forced to
reinvest the unanticipated proceeds at lower interest rates, the Fund would
experience a decline in income and lose the opportunity for additional price
appreciation.
Investments in high-yield or lower-rated securities are subject to
greater-than-average price volatility, illiquidity and possibility of default.
The securities issued by U.S. Government-sponsored entities (i.e., Fannie Mae,
Freddie Mac) are neither guaranteed nor issued by the U.S. Government.
The portfolio may invest in mortgage-backed securities, which during times of
fluctuating interest rates may increase or decrease more than other fixed-
income securities. Mortgage-backed securities are also subject to pre-payments.
At times, the Fund's investments may represent industries or industry sectors
that are interrelated or have common risks, making the Fund more susceptible to
any economic, political, or regulatory developments or other risks affecting
those industries and sectors.
These risks may increase share price volatility.
Before investing, consider the product's investment objectives, risks, charges
and expenses. Contact your advisor or Amundi Pioneer 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 | 6/30/17 9
Portfolio Summary | 6/30/17
Portfolio Diversification*
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(As a percentage of total investment portfolio)
[THE FOLLOWING DATA WAS REPRESENTED AS A PIE CHART IN THE PRINTED MATERIAL]
U.S. Government Securities 33.9%
U.S. Corporate Bonds 25.1%
Collateralized Mortgage Obligations 18.5%
International Corporate Bonds 9.0%
Asset Backed Securities 5.0%
Senior Secured Loans 3.4%
Temporary Cash Investment 2.1%
Municipal Bonds 1.5%
Convertible Preferred Stocks 0.9%
Foreign Government Bonds 0.6%
* Includes investments in insurance linked securities totaling 2.9% of total
investment portfolio.
10 Largest Holdings
--------------------------------------------------------------------------------
(As a percentage of total long-term holdings)**
1. U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46 1.57%
--------------------------------------------------------------------------------
2. U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 1.29
--------------------------------------------------------------------------------
3. U.S. Treasury Bill, 9/28/17 1.08
--------------------------------------------------------------------------------
4. U.S. Treasury Bill, 7/16/17 0.65
--------------------------------------------------------------------------------
5. Wells Fargo & Co., 7.5% (Perpetual) 0.51
--------------------------------------------------------------------------------
6. Bank of America Corp., 7.25% (Perpetual) 0.50
--------------------------------------------------------------------------------
7. BNP Paribas SA, Floating Rate Note (Perpetual) (144A) 0.41
--------------------------------------------------------------------------------
8. Fannie Mae, 3.0%, 8/1/42 0.39
--------------------------------------------------------------------------------
9. University Of California CA Revenues, 3.063%, 7/01/25 0.37
--------------------------------------------------------------------------------
10. Chase Mortgage Trust 2016-2, Floating Rate Note, 2/25/44 (144A) 0.35
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** This list excludes temporary cash investments and derivative instruments.
The portfolio is actively managed, and current holdings may be different.
The holdings listed should not be considered recommendations to buy or sell
any securities listed.
10 Pioneer Bond Fund | Annual Report | 6/30/17
Prices and Distributions | 6/30/17
Net Asset Value per Share
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--------------------------------------------------------------------------------
Class 6/30/17 6/30/16
--------------------------------------------------------------------------------
A $9.71 $9.76
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C $9.60 $9.66
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K $9.71 $9.76
--------------------------------------------------------------------------------
R $9.80 $9.85
--------------------------------------------------------------------------------
Y $9.62 $9.67
--------------------------------------------------------------------------------
Distributions per Share: 7/1/16-6/30/17
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net Investment Short-Term Long-Term
Class Income Capital Gains Capital Gains
--------------------------------------------------------------------------------
A $0.2886 $ -- $ --
--------------------------------------------------------------------------------
C $0.2148 $ -- $ --
--------------------------------------------------------------------------------
K $0.3256 $ -- $ --
--------------------------------------------------------------------------------
R $0.2666 $ -- $ --
--------------------------------------------------------------------------------
Y $0.3126 $ -- $ --
--------------------------------------------------------------------------------
Index Definition
--------------------------------------------------------------------------------
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged measure of the
U.S. bond market. Index returns are calculated monthly, assume reinvestment of
dividends and, unlike Fund returns, do not reflect any fees, expenses or sales
charges. It is not possible to invest directly in an index.
The index defined here pertains to the "Value of $10,000 Investment" and "Value
of $5 Million Investment" charts on pages 12-16.
Pioneer Bond Fund | Annual Report | 6/30/17 11
Performance Update | 6/30/17 Class A Shares
Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in value of a $10,000
investment made in Class A shares of Pioneer Bond Fund at public offering price
during the periods shown, compared to that of the Bloomberg Barclays U.S.
Aggregate Bond Index.
Average Annual Total Returns
(As of June 30, 2017)
--------------------------------------------------------------------------------
Bloomberg
Net Public U.S. Barclays
Asset Offering Aggregate
Value Price Bond
Period (NAV) (POP) Index
--------------------------------------------------------------------------------
10 years 5.35% 4.87% 4.48%
5 years 3.41 2.46 2.21
1 year 2.48 -2.13 -0.31
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated April 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
0.98% 0.85%
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[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
6/07 $ 9,550 $10,000
6/08 $10,186 $10,712
6/09 $10,455 $11,360
6/10 $11,993 $12,439
6/11 $12,842 $12,924
6/12 $13,601 $13,890
6/13 $14,038 $13,795
6/14 $14,907 $14,398
6/15 $15,103 $14,666
6/16 $15,696 $15,546
6/17 $16,086 $15,497
Call 1-800-225-6292 or visit www.amundipioneer.com for the most recent month-end
performance results. Current performance may be lower or higher than the
performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
NAV results represent the percent change in net asset value per share. Returns
would have been lower had sales charges been reflected. POP returns reflect
deduction of maximum 4.50% sales charge. All results are historical and assume
the reinvestment of dividends and capital gains. Other share classes are
available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers may
not be in effect for all funds. Certain fee waivers are contractual through a
specified period. Otherwise, fee waivers can be rescinded at any time. See the
prospectus and financial statements for more information.
The net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2018, for Class A shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
see the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
12 Pioneer Bond Fund | Annual Report | 6/30/17
Performance Update | 6/30/17 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, 2017)
--------------------------------------------------------------------------------
Bloomberg
U.S. Barclays
Aggregate
If If Bond
Period Held Redeemed Index
--------------------------------------------------------------------------------
10 years 4.46% 4.46% 4.48%
5 years 2.57 2.57 2.21
1 year 1.62 1.62 -0.31
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated April 1, 2017)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
1.60%
--------------------------------------------------------------------------------
[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
6/07 $10,000 $10,000
6/08 $10,579 $10,712
6/09 $10,751 $11,360
6/10 $12,216 $12,439
6/11 $12,957 $12,924
6/12 $13,620 $13,890
6/13 $13,938 $13,795
6/14 $14,662 $14,398
6/15 $14,734 $14,666
6/16 $15,218 $15,546
6/17 $15,465 $15,497
Call 1-800-225-6292 or visit www.amundipioneer.com for the most recent month-end
performance results. Current performance may be lower or higher than the
performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class C shares held for less than one year are also subject to a 1% contingent
deferred sales charge (CDSC). If you paid a 1% sales charge, your returns would
be lower than those shown above. "If Held" results represent the percent change
in net asset value per share. Returns would have been lower had sales charges
been reflected. All results are historical and assume the reinvestment of
dividends and capital gains. Other share classes are available for which
performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers may
not be in effect for all funds. Certain fee waivers are contractual through a
specified period. Otherwise, fee waivers can be rescinded at any time. See the
prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/17 13
Performance Update | 6/30/17 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, 2017)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 5.52% 4.48%
5 years 3.74 2.21
1 year 2.87 -0.31
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated April 1, 2017)
--------------------------------------------------------------------------------
Gross
--------------------------------------------------------------------------------
0.47%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/07 $5,000,000 $5,000,000
6/08 $5,331,857 $5,356,157
6/09 $5,473,017 $5,680,037
6/10 $6,278,093 $6,219,543
6/11 $6,722,542 $6,462,195
6/12 $7,119,754 $6,945,160
6/13 $7,360,634 $6,897,396
6/14 $7,829,425 $7,199,043
6/15 $7,970,371 $7,332,790
6/16 $8,314,886 $7,772,859
6/17 $8,553,803 $7,748,402
Call 1-800-225-6292 or visit www.amundipioneer.com for the most recent month-end
performance results. Current performance may be lower or higher than the
performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
The performance shown for Class K shares for the period prior to the
commencement of operations of Class K shares on December 20, 2012, is the net
asset value performance of the Fund's Class A shares, which has not been
restated to reflect any differences in expenses, including Rule 12b-1 fees
applicable to Class A shares. Since fees for Class A shares generally are higher
than those of Class K shares, the performance of Class K shares prior to their
inception would have been higher than the performance shown. Class K shares are
not subject to sales charges and are available for limited groups of eligible
investors, including institutional investors. All results are historical and
assume the reinvestment of dividends and capital gains.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers may
not be in effect for all funds. Certain fee waivers are contractual through a
specified period. Otherwise, fee waivers can be rescinded at any time. See the
prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
14 Pioneer Bond Fund | Annual Report | 6/30/17
Performance Update | 6/30/17 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, 2017)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 4.99% 4.48%
5 years 3.09 2.21
1 year 2.23 -0.31
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated April 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
1.21% 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
6/07 $10,000 $10,000
6/08 $10,615 $10,712
6/09 $10,865 $11,360
6/10 $12,405 $12,439
6/11 $13,233 $12,924
6/12 $13,971 $13,890
6/13 $14,362 $13,795
6/14 $15,188 $14,398
6/15 $15,349 $14,666
6/16 $15,911 $15,546
6/17 $16,266 $15,497
Call 1-800-225-6292 or visit www.amundipioneer.com for the most recent month-end
performance results. Current performance may be lower or higher than the
performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class R shares are not subject to sales charges and are available for limited
groups of eligible investors, including institutional investors. All results are
historical and assume the reinvestment of dividends and capital gains. Other
share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers may
not be in effect for all funds. Certain fee waivers are contractual through a
specified period. Otherwise, fee waivers can be rescinded at any time. See the
prospectus and financial statements for more information.
The net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2018, for Class R shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
see the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
Pioneer Bond Fund | Annual Report | 6/30/17 15
Performance Update | 6/30/17 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, 2017)
--------------------------------------------------------------------------------
Bloomberg
Net Barclays U.S.
Asset Aggregate
Value Bond
Period (NAV) Index
--------------------------------------------------------------------------------
10 years 5.62% 4.48%
5 years 3.65 2.21
1 year 2.76 -0.31
--------------------------------------------------------------------------------
Expense Ratio
(Per prospectus dated April 1, 2017)
--------------------------------------------------------------------------------
Gross Net
--------------------------------------------------------------------------------
0.59% 0.58%
--------------------------------------------------------------------------------
[THE FOLLOWING DATA WAS REPRESENTED AS A MOUNTAIN CHART IN THE PRINTED MATERIAL]
Value of $5 Million Investment
Bloomberg Barclays U.S.
Pioneer Bond Fund Aggregate Bond Index
6/07 $5,000,000 $5,000,000
6/08 $5,345,688 $5,356,157
6/09 $5,503,383 $5,680,037
6/10 $6,332,164 $6,219,543
6/11 $6,791,284 $6,462,195
6/12 $7,217,282 $6,945,160
6/13 $7,458,092 $6,897,396
6/14 $7,936,321 $7,199,043
6/15 $8,062,189 $7,332,790
6/16 $8,402,386 $7,772,859
6/17 $8,634,379 $7,748,402
Call 1-800-225-6292 or visit www.amundipioneer.com for the most recent month-end
performance results. Current performance may be lower or higher than the
performance data quoted.
The performance data quoted represents past performance, which is no guarantee
of future results. Investment return and principal value will fluctuate, and
shares, when redeemed, may be worth more or less than their original cost.
Class Y shares are not subject to sales charges and are available for limited
groups of eligible investors, including institutional investors. All results are
historical and assume the reinvestment of dividends and capital gains. Other
share classes are available for which performance and expenses will differ.
Performance results reflect any applicable expense waivers in effect during the
periods shown. Without such waivers Fund performance would be lower. Waivers may
not be in effect for all funds. Certain fee waivers are contractual through a
specified period. Otherwise, fee waivers can be rescinded at any time. See the
prospectus and financial statements for more information.
The net expense ratio reflects the contractual expense limitation currently in
effect through November 1, 2018, for Class Y shares. There can be no assurance
that Amundi Pioneer will extend the expense limitation beyond such time. Please
see the prospectus and financial statements for more information.
The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Fund distributions or the redemption of Fund
shares.
Please refer to the financial highlights for a more current expense ratio.
16 Pioneer Bond Fund | Annual Report | 6/30/17
Comparing Ongoing Fund Expenses
As a shareowner in the Fund, you incur two types of costs:
(1) ongoing costs, including management fees, distribution and/or service
(12b-1) fees, and other Fund expenses; and
(2) transaction costs, including sales charges (loads) on purchase payments.
This example is intended to help you understand your ongoing expenses (in
dollars) of investing in the Fund and to compare these costs with the ongoing
costs of investing in other mutual funds. The example is based on an investment
of $1,000 at the beginning of the Fund's latest six-month period and held
throughout the six months.
Using the Tables
--------------------------------------------------------------------------------
Actual Expenses
The first table below provides information about actual account values and
actual expenses. You may use the information in this table, together with the
amount you invested, to estimate the expenses that you paid over the period as
follows:
(1) Divide your account value by $1,000
Example: an $8,600 account value (divided by) $1,000 = 8.6
(2) Multiply the result in (1) above by the corresponding share class's number
in the third row under the heading entitled "Expenses Paid During Period"
to estimate the expenses you paid on your account during this period.
Expenses Paid on a $1,000 Investment in Pioneer Bond Fund
Based on actual returns from January 1, 2017 through June 30, 2017.
--------------------------------------------------------------------------------
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 1/1/17
--------------------------------------------------------------------------------
Ending Account $1,024.80 $1,016.20 $1,028.70 $1,022.30 $1,027.60
Value (after
expenses)
on 6/30/17
--------------------------------------------------------------------------------
Expenses Paid $ 4.26 $ 7.96 $ 2.36 $ 5.52 $ 2.91
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized net expense ratio of 0.85%,
1.59%, 0.47%, 1.10%, and 0.58% for Class A, Class C, Class K, Class R, and
Class Y shares, respectively, multiplied by the average account value over
the period, multiplied by 181/365 (to reflect the one-half year period).
Pioneer Bond Fund | Annual Report | 6/30/17 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, 2017 through June 30, 2017.
--------------------------------------------------------------------------------
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 1/1/17
--------------------------------------------------------------------------------
Ending Account $1,020.58 $1,016.91 $1,022.46 $1,019.34 $1,021.92
Value (after
expenses)
on 6/30/17
--------------------------------------------------------------------------------
Expenses Paid $ 4.26 $ 7.95 $ 2.36 $ 5.51 $ 2.91
During Period*
--------------------------------------------------------------------------------
* Expenses are equal to the Fund's annualized net expense ratio of 0.85%,
1.59%, 0.47%, 1.10%, and 0.58% for Class A, Class C, Class K, Class R, and
Class Y shares, respectively, multiplied by the average account value over
the period, multiplied by 181/365 (to reflect the one-half year period).
18 Pioneer Bond Fund | Annual Report | 6/30/17
Schedule of Investments | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
CONVERTIBLE PREFERRED STOCKS -- 1.0%
BANKS -- 1.0%
Diversified Banks -- 1.0%
18,315 Bank of America Corp., 7.25% (Perpetual) $ 23,113,347
18,101 Wells Fargo & Co., 7.5% (Perpetual) 23,732,402
--------------
$ 46,845,749
--------------
Total Banks $ 46,845,749
----------------------------------------------------------------------------------------------------
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $44,039,805) $ 46,845,749
----------------------------------------------------------------------------------------------------
ASSET BACKED SECURITIES -- 5.0%
ENERGY -- 0.1%
Oil & Gas Exploration & Production -- 0.1%
2,400,000 Colony American Finance 2016-2, Ltd., 5.028%,
11/15/48 (Step) (144A) $ 2,377,726
--------------
Total Energy $ 2,377,726
----------------------------------------------------------------------------------------------------
MATERIALS -- 0.0%+
Steel -- 0.0%+
472,077 1.51 Home Equity Asset Trust 2005-6, Floating Rate
Note, 12/25/35 $ 472,030
--------------
Total Materials $ 472,030
----------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.0%+
Hotels, Resorts & Cruise Lines -- 0.0%+
1,144,620 Westgate Resorts 2015-1 LLC, 2.75%,
5/20/27 (144A) $ 1,147,154
--------------
Total Consumer Services $ 1,147,154
----------------------------------------------------------------------------------------------------
FOOD & STAPLES RETAILING -- 0.0%+
Food Retail -- 0.0%+
1,116,289 CKE Restaurant Holdings, Inc., 4.474%,
3/20/43 (144A) $ 1,114,096
--------------
Total Food & Staples Retailing $ 1,114,096
----------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.0%+
Health Care Distributors -- 0.0%+
1,500,000 OneMain Financial Issuance Trust 2015-1, 3.19%,
3/18/26 (144A) $ 1,514,951
--------------
Total Health Care Equipment & Services $ 1,514,951
----------------------------------------------------------------------------------------------------
BANKS -- 4.3%
Thrifts & Mortgage Finance -- 4.3%
1,157,134 1.39 321 Henderson Receivables I LLC, Floating Rate
Note, 11/15/40 (144A) $ 1,100,625
2,800,000 American Homes 4 Rent 2014-SFR3 Trust,
4.596%, 12/18/36 (144A) 2,955,896
700,000 American Homes 4 Rent 2014-SFR3 Trust,
5.04%, 12/18/36 (144A) 747,424
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 19
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,300,000 American Homes 4 Rent 2015-SFR1, 4.11%,
4/18/52 (144A) $ 1,330,991
2,600,000 Applebee's Funding LLC/ IHOP Funding LLC,
4.277%, 9/5/44 (144A) 2,559,320
2,200,000 Ascentium Equipment Receivables 2015-1 LLC,
3.24%, 1/10/22 (144A) 2,212,409
1,300,000 Ascentium Equipment Receivables 2016-2 Trust,
4.2%, 9/10/22 (144A) 1,326,386
699,990 Axis Equipment Finance Receivables III LLC,
3.41%, 4/20/20 (144A) 676,515
3,357,637 B2R Mortgage Trust 2015-1, 2.524%,
5/15/48 (144A) 3,334,080
82,953 1.79 Bayview Financial Mortgage Pass-Through Trust
2005-C, Floating Rate Note, 6/28/44 82,779
4,704,772 Bayview Opportunity Master Fund IVA Trust
2016-SPL1, 4.0%, 4/28/55 (144A) 4,885,529
7,245,000 Bayview Opportunity Master Fund IVA Trust
Series 2017-Spl5 Cl A, 3.50% 6/28/57 (144A) 7,433,845
6,681,080 4.00 Bayview Opportunity Master Fund IVB Trust
2016-SPL2, Floating Rate Note, 6/28/53 (144A) 6,951,122
7,027,709 Bayview Opportunity Master Fund IVB Trust
Ser 2017-Spl3 Cl A, 4.00% 11/28/53 (144A) 7,337,496
3,894,140 Bayview Opportunity Master Fund IVB Trust
Series 2017-Spl4 Cl A, 3.50%, 1/28/55 (144A) 3,993,674
1,650,000 BCC Funding Corp X, 3.622%, 11/20/20 (144A) 1,654,422
558,363 1.97 Bear Stearns Asset Backed Securities I
Trust 2005-FR1, Floating Rate Note, 6/25/35 558,363
393,711 1.71 Bear Stearns Asset Backed Securities Trust
2006-SD2, Floating Rate Note, 6/25/36 387,818
1,694,842 BXG Receivables Note Trust 2015-A, 2.88%,
5/2/30 (144A) 1,681,868
1,400,000 CIT Equipment Collateral 2014-VT1, 2.65%,
10/20/22 (144A) 1,401,255
217,532 1.97 Citigroup Mortgage Loan Trust, Inc., Floating Rate
Note, 5/25/35 (144A) 217,143
5,006,872 Colony American Finance 2015-1, Ltd., 2.896%,
10/18/47 (144A) 5,011,449
3,400,000 2.84 Colony American Homes 2014-1, Floating Rate
Note, 5/19/31 (144A) 3,428,456
999,977 Conn's Receivables Funding 2016-B LLC, 3.73%,
10/15/18 (144A) 1,001,568
1,500,000 Credit Acceptance Auto Loan Trust 2016-2, 4.29%,
11/15/24 (144A) 1,542,001
1,248,776 CRG Issuer 2015-1, 4.07%, 7/11/22 (144A) 1,245,654
290,343 2.27 CWABS Asset-Backed Certificates Trust 2004-7,
Floating Rate Note, 12/25/34 291,325
The accompanying notes are an integral part of these financial statements.
20 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
488,750 DB Master Finance LLC 2015-1, 3.98%,
2/20/45 (144A) $ 501,135
1,344,309 3.02 DRB Prime Student Loan Trust 2016-B, Floating
Rate Note, 6/25/40 (144A) 1,371,721
599,818 4.01 Drug Royalty II LP 2, Floating Rate Note,
7/15/23 (144A) 603,340
2,000,000 DT Auto Owner Trust 2015-1, 4.26%,
2/15/22 (144A) 2,033,436
1,300,000 Engs Commercial Finance Trust 2016-1, 3.45%,
3/22/22 (144A) 1,278,585
1,900,000 Engs Commercial Finance Trust 2016-1, 5.22%,
1/22/24 (144A) 1,869,787
5,823,311 1.46 Fieldstone Mortgage Investment Trust Series
2005-3, Floating Rate Note, 2/25/36 5,735,018
380,867 GMAT 2013-1 Trust, 6.9669%, 8/25/53 (Step) 381,433
1,900,000 Green Tree Agency Advance Funding Trust I,
4.0575%, 10/15/48 (144A) 1,888,391
138,289 1.97 GSAMP Trust 2005-HE1, Floating Rate
Note, 12/25/34 138,289
1,026,772 2.57 GSRPM Mortgage Loan Trust 2003-2, Floating Rate
Note, 6/25/33 1,022,658
303,244 1.52 GSRPM Mortgage Loan Trust 2006-2, Floating Rate
Note, 9/25/36 (144A) 300,504
2,882,250 HOA Funding LLC, 4.846%, 8/22/44 (144A) 2,725,974
38,034 1.60 Home Equity Asset Trust 2005-7, Floating Rate
Note, 1/25/36 38,033
765,461 1.59 Home Equity Mortgage Loan Asset-Backed Trust
Series INABS 2005-C, Floating Rate Note, 10/25/35 763,117
1,255,863 Icon Brand Holdings LLC, 4.229%, 1/26/43 (144A) 1,191,582
271,536 Icon Brand Holdings LLC, 4.352%, 1/25/43 (144A) 252,627
317,653 2.36 Invitation Homes 2014-SFR3 Trust, Floating Rate
Note, 12/17/31 (144A) 318,184
193,740 2.72 Irwin Whole Loan Home Equity Trust 2003-C,
Floating Rate Note, 6/25/28 191,961
3,750,000 Kabbage Asset Securitization LLC Series 2017-1
Cl A, 4.571% 3/15/22 (144A) 3,836,225
850,000 LEAF Receivables Funding 10 LLC, 2.74%,
3/15/21 (144A) 843,917
1,200,000 Leaf Receivables Funding 11 LLC, 4.89%,
1/15/23 (144A) 1,259,927
700,000 Leaf Receivables Funding 12 LLC Series 2017-1
Cl C, 2.83% 4/15/22 (144A) 697,152
800,000 Leaf Receivables Funding 12 LLC Series 2017-1
Cl D, 3.10%, 4/15/22 (144A) 796,762
112,388 Lehman ABS Manufactured Housing Contract
Trust 2001-B, 3.01%, 5/15/41 112,780
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 21
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
949,015 Nations Equipment Finance Funding II LLC,
3.276%, 1/22/19 (144A) $ 949,439
150,757 1.37 Nationstar Home Equity Loan Trust 2007-A,
Floating Rate Note, 3/25/37 150,649
1,000,000 6.71 NCF Dealer Floorplan Master Trust, Floating Rate
Note, 3/21/22 (144A) 983,398
761,456 1.72 New Century Home Equity Loan Trust 2005-1,
Floating Rate Note, 3/25/35 761,217
5,700,000 New Residential Advance Receivables Trust Ad
Series 2016-T2 Cl Bt2, 3.0199%, 10/15/49 (144A) 5,704,342
5,895,120 New Residential Mortgage Loan Trust 2017-1
Series 2017-1A Cl A1, 4.00%, 2/25/57 (144A) 6,128,777
6,570,000 New Residential Mortgage Loan Trust 2017-3
Series 2017-3A Cl A1, 4.00%, 4/25/57 (144A) 6,823,788
1,050,000 NextGear Floorplan Master Owner Trust, 1.92%,
10/15/19 (144A) 1,050,849
1,000,000 NextGear Floorplan Master Owner Trust, 2.61%,
10/15/19 (144A) 999,291
1,200,000 2.09 NextGear Floorplan Master Owner Trust, Floating
Rate Note, 9/15/21 (144A) 1,201,626
88,859 2.87 NovaStar Mortgage Funding Trust Series 2004-4,
Floating Rate Note, 3/25/35 89,040
3,800,000 1.89 NovaStar Mortgage Funding Trust Series 2005-3,
Floating Rate Note, 1/25/36 3,765,689
4,415,303 Novastar Mortgage Funding Trust Series 2006-1
Ser 2006-1 Cl A1, 1.376% , 5/25/36 4,295,653
1,000,000 Ocwen Master Advance Receivables Trust, 2.5207%,
8/17/48 (144A) 995,386
1,600,000 Oportun Funding III LLC, 3.69%, 7/8/21 (144A) 1,615,303
1,200,000 Option One Mortgage Loan Trust 2005-3 Series
2005-3 Cl M2, 1.706%, 8/25/35 1,156,792
2,100,000 Oxford Finance Funding 2016-1 LLC, 3.968%,
6/17/24 (144A) 2,083,386
1,000,000 2.01 PFS Financing Corp., Floating Rate Note,
10/15/19 (144A) 998,382
775,000 Prestige Auto Receivables Trust 2013-1, 3.04%,
7/15/20 (144A) 775,207
2,000,000 Progreso Receivables Funding IV LLC, 3.0%,
7/8/20 (144A) 2,007,618
282,543 1.47 RAAC Series 2006-RP2 Trust, Floating Rate Note,
2/25/37 (144A) 281,124
1,691,697 SCF Equipment Trust 2016-1 LLC, 3.62%,
11/20/21 (144A) 1,700,050
107,301 Skopos Auto Receivables Trust 2015-1, 3.1%,
12/15/23 (144A) 107,379
600,000 Skopos Auto Receivables Trust 2015-1, 5.43%,
12/15/23 (144A) 606,131
The accompanying notes are an integral part of these financial statements.
22 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
1,384,833 STORE Master Funding I LLC, 3.75%,
4/20/45 (144A) $ 1,402,356
1,943,047 STORE Master Funding LLC, 5.77%,
8/20/42 (144A) 1,948,594
195,857 1.42 Structured Asset Investment Loan Trust 2006-1,
Floating Rate Note, 1/25/36 195,089
18,571 Structured Asset Securities Corp., 5.27%,
10/25/34 (Step) 19,120
282,978 SVO 2012-A VOI Mortgage LLC, 2.0%, 9/20/29 (144A) 280,309
1,233,170 Terwin Mortgage Trust Series TMTS 2005-16HE,
4.26762%, 9/25/36 (Step) 1,245,773
2,000,000 Tidewater Sales Finance Master Trust Series 2
Series 2017-Aa Cl A, 4.55%, 5/15/21 (144A) 2,000,488
940,000 Towd Point Mortgage Trust 2015-1 Series 2015-1
Cl A2 3.25%, 10/25/53 (144A) 938,493
10,588,174 Towd Point Mortgage Trust 2015-1 Series 2015-2
Cl 1A13 2.50%, 11/25/60 (144A) 10,584,799
5,952,693 Towd Point Mortgage Trust 2015-3 Series 2015-3
Cl A1A, 3.50% , 3/25/54 (144A) 6,072,580
2,590,713 Towd Point Mortgage Trust 2015-3 Series 2015-3
Cl A4B 3.50%, 3/25/54 (144A) 2,574,385
7,500,000 Towd Point Mortgage Trust 2015-6 Series 2015-6
Cl M1, 3.75 %, 4/25/55 (144A) 7,568,481
667,375 Towd Point Mortgage Trust 2016-2 Series 2016-2
Cl A1A, 2.75%, 8/25/55 (144A) 671,930
481,414 Towd Point Mortgage Trust 2017-2 Series 2017-2
Cl A1, 2.75%, 4/25/57 (144A) 486,003
8,115,000 Towd Point Mortgage Trust 2017-2 Series 2017-2
Cl A2 3.25%, 4/25/57 (144A) 8,270,578
1,070,000 Towd Point Mortgage Trust 2017-2 Series 2017-2
Cl A4, 2.87719%, 4/25/57 (144A) 1,083,849
3,000,000 Trafigura Securitisation Finance Plc 2 Series
2017-1A Cl A1 2.05%, 12/15/20 (144A) 3,000,000
800,000 3.41 Trafigura Securitisation Finance Plc. 2014-1,
Floating Rate Note, 4/16/18 (144A) 799,502
962,509 United Auto Credit Securitization Trust 2015-1,
2.92%, 6/17/19 (144A) 964,138
1,724,570 VOLT XXXIII LLC, 3.5%, 3/25/55 (Step) (144A) 1,730,884
1,166,047 Welk Resorts 2015-A LLC, 2.79%, 6/16/31 (144A) 1,162,603
2,913,725 Westgate Resorts 2016-1 LLC, 4.5%,
12/20/28 (144A) 2,925,866
1,886,719 Westgate Resorts 2017-1 LLC Series 2017-1A Cl A,
3.05%, 12/20/30 (144A) 1,891,453
1,000,000 Westlake Automobile Receivables Trust 2015-3,
3.05%, 5/17/21 (144A) 1,005,081
1,000,000 Westlake Automobile Receivables Trust 2016-1,
3.29%, 9/15/21 (144A) 1,009,933
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 23
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
2,923,658 3.50 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) $ 2,955,292
--------------
$ 203,520,046
--------------
Total Banks $ 203,520,046
----------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.4%
Other Diversified Financial Services -- 0.2%
500,000 American Credit Acceptance Receivables Trust
2014-1, 5.2%, 4/12/21 (144A) $ 500,457
1,000,000 3.31 Colony American Homes 2014-1 REMICS,
Floating Rate Note, 5/17/31 (144A) 1,004,156
324,021 Diamond Resorts Owner Trust 2015-1, 3.17%,
7/20/27 (144A) 324,291
477,737 PFS Tax Lien Trust 2014-1, 1.44%, 5/15/29 (144A) 474,080
85,563 Sierra Timeshare 2012-3 Receivables Funding LLC,
1.87%, 8/20/29 (144A) 85,500
216,090 Small Business Administration Participation
Certificates, 4.2%, 9/1/29 228,438
290,394 Small Business Administration Participation
Certificates, 4.625%, 2/1/25 303,806
275,693 Small Business Administration Participation
Certificates, 4.84%, 5/1/25 289,613
378,409 Small Business Administration Participation
Certificates, 5.37%, 4/1/28 411,855
277,335 Small Business Administration Participation
Certificates, 5.63%, 10/1/28 303,506
96,255 Small Business Administration Participation
Certificates, 5.72%, 1/1/29 105,766
410,646 Small Business Administration Participation
Certificates, 6.02%, 8/1/28 453,142
89,908 Small Business Administration Participation
Certificates, 6.14%, 1/1/22 95,207
220,788 Small Business Administration Participation
Certificates, 6.22%, 12/1/28 244,634
3,300,000 Spirit Master Funding LLC, 4.6291%, 1/20/45 (144A) 3,267,908
--------------
$ 8,092,359
----------------------------------------------------------------------------------------------------
Specialized Finance -- 0.2%
3,530,313 Domino's Pizza Master Issuer LLC, 3.484%,
10/25/45 (144A) $ 3,565,368
1,896,213 Domino's Pizza Master Issuer LLC, 5.216%,
1/27/42 (144A) 1,897,123
1,980,036 Hercules Capital Funding Trust 2014-1, 3.524%,
4/16/21 (144A) 1,984,367
486,764 JG Wentworth XXII LLC, 3.82%, 12/15/48 (144A) 491,687
--------------
$ 7,938,545
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
24 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Consumer Finance -- 0.0%+
2,100,000 First Investors Auto Owner Trust 2014-3, 2.97%,
11/16/20 (144A) $ 2,120,395
510,000 First Investors Auto Owner Trust 2015-1, 3.59%,
1/18/22 (144A) 515,203
--------------
$ 2,635,598
--------------
Total Diversified Financials $ 18,666,502
----------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.2%
Wireless Telecommunication Services -- 0.2%
6,975,000 3.87 Small Business Administration Participation
Certificates, Floating Rate Note, 10/15/49 (144A) $ 7,077,269
--------------
Total Telecommunication Services $ 7,077,269
----------------------------------------------------------------------------------------------------
TOTAL ASSET BACKED SECURITIES
(Cost $235,528,825) $ 235,889,774
----------------------------------------------------------------------------------------------------
COLLATERALIZED MORTGAGE
OBLIGATIONS -- 18.5%
BANKS -- 17.6%
Thrifts & Mortgage Finance -- 17.6%
240,628 A10 Term Asset Financing 2013-2 LLC, 2.62%,
11/15/27 (144A) $ 240,494
1,769,482 3.90 Agate Bay Mortgage Trust 2014-1 REMICS,
Floating Rate Note, 7/25/44 (144A) 1,736,360
1,373,860 Agate Bay Mortgage Trust 2014-1 Series 2014-1
Cl 1A11, 4.00%, 7/25/44 (144A) 1,416,739
4,804,781 3.50 Agate Bay Mortgage Trust 2015-1, Floating
Rate Note, 1/25/45 (144A) 4,856,769
2,872,102 3.50 Agate Bay Mortgage Trust 2015-2, Floating
Rate Note, 3/27/45 (144A) 2,902,170
3,765,679 3.50 Agate Bay Mortgage Trust 2015-5, Floating
Rate Note, 7/25/45 (144A) 3,806,423
6,385,253 3.50 Agate Bay Mortgage Trust 2015-7, Floating
Rate Note, 10/25/45 (144A) 6,506,375
3,656,955 3.50 Agate Bay Mortgage Trust 2016-1, Floating
Rate Note, 12/25/45 (144A) 3,729,523
143,045 1.67 Alternative Loan Trust 2003-14T1, Floating
Rate Note, 8/25/18 111,919
5,000,000 2.91 Arbor Realty Collateralized Loan Obligation
2015-FL1, Ltd., Floating Rate Note, 3/17/25 (144A) 4,999,978
5,200,000 Arbor Realty Commercial Real Estate Notes 20
Series 2017-Fl1 Cl B, 0.658%, 4/15//27 (144A) 5,176,954
5,900,000 3.36 BAMLL Commercial Mortgage Securities Trust
2014-FL1, Floating Rate Note, 12/17/31 (144A) 5,914,814
4,200,000 2.70 BAMLL Commercial Mortgage Securities Trust
2015-ASHF, Floating Rate Note, 1/18/28 (144A) 4,198,333
1,900,000 6.16 Banc of America Commercial Mortgage Trust
2007-4, Floating Rate Note, 2/10/51 (144A) 1,895,314
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 25
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
7,460,000 Bank 2017-Bnk5 Series 2017-Bnk5 Cl As,
3.624%, 6/15/60 $ 7,587,150
6,196,620 Bayview Commercial Asset Trust 2007-2,
7/27/37 (Step) (144A) (h) 6
720,564 2.97 Bayview Opportunity Master Fund IVB Trust
2016-CRT1, Floating Rate Note, 10/27/27 (144A) 720,506
820,491 5.21 Bear Stearns Commercial Mortgage Securities
Trust 2005-PWR7, Floating Rate Note, 2/11/41 819,245
1,102,590 5.72 Bellemeade Re II, Ltd., Floating Rate Note,
4/25/26 (144A) 1,114,649
500,000 2.51 BLCP Hotel Trust, Floating Rate Note, 8/15/29 (144A) 500,472
2,210,000 3.11 BLCP Hotel Trust, Floating Rate Note, 8/15/29 (144A) 2,212,777
3,250,000 CCRESG Commercial Mortgage Trust 2016-HEAT,
3.357%, 4/10/29 (144A) 3,291,571
4,000,000 3.66 CDGJ Commercial Mortgage Trust 2014-BXCH,
Floating Rate Note, 12/15/27 (144A) 3,997,512
16,117,146 3.70 Chase Mortgage Trust 2016-2, Floating Rate Note,
2/25/44 (144A) 16,343,898
273,685 3.40 CHL Mortgage Pass-Through Trust 2003-56,
Floating Rate Note, 12/25/33 277,166
3,400,000 Citigroup Commercial Mortgage Trust 2014-GC19
Series 2014-GC19 Cl B 4.81%, 3/10/47 3,659,791
5,000,000 Citigroup Commercial Mortgage Trust 2014-GC25
REMICS, 3.371%, 10/11/47 5,206,204
6,000,000 Citigroup Commercial Mortgage Trust 2014-GC25
Series 2014-Gc25 Cl B 4.345%, 10/10/47 6,248,495
3,100,000 Citigroup Commercial Mortgage Trust 2015-GC27
Series 2015-GC27 Cl A5, 3.137%, 2/10/48 3,114,182
2,400,000 Colony American Finance 2016-1, Ltd., 5.972%,
6/15/48 (Step) (144A) 2,533,051
1,711,582 3.51 Colony American Homes 2014-2 REMICS, Floating
Rate Note, 7/17/31 (144A) 1,716,562
2,100,000 2.91 Colony Starwood Homes 2016-2 Trust, Floating
Rate Note, 12/19/33 (144A) 2,100,877
450,000 COMM 2012-CCRE2 Mortgage Trust REMICS,
3.791%, 8/17/45 468,546
915,000 COMM 2012-CCRE4 Mortgage Trust, 2.436%, 10/17/45 923,832
5,000,000 5.34 COMM 2013-CCRE11 Mortgage Trust, Floating Rate
Note, 8/12/50 (144A) 5,322,756
1,900,000 COMM 2013-LC6 Mortgage Trust, 2.941%, 1/10/46 1,920,325
7,325,000 4.66 COMM 2014-CCRE20 Mortgage Trust, Floating Rate
Note, 11/10/47 7,456,958
3,800,000 3.31 COMM 2014-FL5 Mortgage Trust, Floating Rate
Note, 10/15/31 (144A) 3,778,659
The accompanying notes are an integral part of these financial statements.
26 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
4,500,000 4.94 COMM 2014-UBS3 Mortgage Trust, Floating Rate
Note, 6/12/47 $ 4,387,778
4,100,000 COMM 2014-UBS4 Mortgage Trust, 3.42%, 8/10/47 4,190,283
1,750,000 3.81 COMM 2015-CCRE23 Mortgage Trust, Floating
Rate Note, 5/12/48 (144A) 1,744,732
3,104,000 4.70 COMM 2015-CCRE25 Mortgage Trust, Floating
Rate Note, 8/12/48 3,274,965
3,375,000 COMM 2015-CCRE26 Mortgage Trust REMICS,
3.63%, 10/13/48 3,495,678
4,225,000 COMM 2015-LC23 Mortgage Trust REMICS,
3.774%, 10/10/53 4,419,999
3,850,000 Commercial Mortgage Pass Through Certificates,
2.822%, 10/17/45 3,892,864
104,325 Credit Suisse First Boston Mortgage Securities
Corp., 5.5%, 6/25/33 105,507
5,700,000 4.69 CSAIL 2016-C5 Commercial Mortgage Trust
REMICS, Floating Rate Note, 11/15/48 5,789,807
2,090,000 CSAIL 2016-C6 Commercial Mortgage Trust,
3.0898%, 1/15/49 2,074,228
2,700,000 3.41 CSMC 2015-TWNI Trust, Floating Rate Note,
3/15/28 (144A) 2,698,816
2,487,024 CSMC Trust 2013-6 Series 2013-6 Cl 1A1,
2.50%, 7/25/28 (144A) 2,448,650
10,117,278 3.50 CSMC Trust 2013-6, Floating Rate Note,
8/25/43 (144A) 10,291,164
4,522,851 3.50 CSMC Trust 2013-7, Floating Rate Note,
8/25/43 (144A) 4,571,788
5,222,204 3.58 CSMC Trust 2013-7, Floating Rate Note,
8/25/43 (144A) 5,071,419
5,621,180 1.55 CSMC Trust 2013-IVR2, Floating Rate Note,
4/27/43 (144A) 5,308,858
4,963,569 CSMC Trust 2013-IVR3 Series 2013- Cl A1:
CSMC FLT, 2.50%, 5/25/43 (144A) 4,717,331
2,846,602 CSMC Trust 2013-IVR3 Series 2013 Cl B4,
3.459%, 5/25/43 (144A) 2,766,072
2,501,800 1.55 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 2,408,484
3,253,260 3.46 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 3,332,722
3,791,855 3.46 CSMC Trust 2013-IVR3, Floating Rate Note,
5/25/43 (144A) 3,824,759
2,109,396 3.00 CSMC Trust 2013-IVR4, Floating Rate Note,
7/27/43 (144A) 2,108,122
2,976,765 CSMC Trust 2013-IVR5 Series 2013 Cl B4, 3.66%,
10/25/43 (144A) 2,954,452
10,436,536 CSMC Trust 2013-Th1 Series 2013-Th1 Cl A1
2.13%, 2/25/43, (144A) 9,977,756
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 27
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
3,241,785 3.50 CSMC Trust 2014-IVR3 REMICS, Floating Rate
Note, 7/25/44 (144A) $ 3,267,557
1,602,401 3.00 CSMC Trust 2014-OAK1, Floating Rate Note,
11/25/44 (144A) 1,599,591
5,313,024 3.94 CSMC Trust 2014-WIN1, Floating Rate Note,
9/25/44 (144A) 4,916,057
2,860,036 4.01 CSMC Trust 2014-WIN2, Floating Rate Note,
10/25/44 (144A) 2,849,716
10,851,200 CSMC Trust 2015-2, 3.0%, 2/25/45 (144A) 10,702,389
4,353,510 CSMC Trust 2015-2, 3.0%, 2/25/45 (144A) 4,352,490
3,121,118 CSMC Trust 2015-2, 3.5%, 2/25/45 (144A) 3,159,766
2,770,637 3.87 CSMC Trust 2015-WIN1, Floating Rate Note,
12/25/44 (144A) 2,666,502
8,700,899 3.50 CSMLT 2015-1 Trust, Floating Rate Note,
5/25/45 (144A) 8,832,544
38,329 3.91 CSMLT 2015-2 Trust, Floating Rate Note,
8/25/45 (144A) 36,666
4,143,932 3.50 CSMLT 2015-2 Trust, Floating Rate Note,
8/28/45 (144A) 4,188,770
4,390,000 DBJPM 16-C3 Mortgage Trust, 2.89%, 9/10/49 4,314,775
3,777,825 3.48 EverBank Mortgage Loan Trust REMICS, Floating
Rate Note, 4/25/43 (144A) 3,747,528
4,630,000 3.49 GAHR Commercial Mortgage Trust 2015-NRF,
Floating Rate Note, 12/15/34 (144A) 4,714,054
777,748 Global Mortgage Securitization, Ltd., 5.25%,
4/25/32 (144A) 764,206
1,516,385 4.68 Government National Mortgage Association,
Floating Rate Note, 1/16/50 1,572,945
2,800,000 GS Mortgage Securities Corp., Trust 2012-SHOP,
2.933%, 6/5/31 (144A) 2,848,070
1,000,000 GS Mortgage Securities Corp., II, 3.682%,
2/10/46 (144A) 1,024,162
3,770,278 GS Mortgage-Backed Securities Trust Series
2014-EB1A Cl B3, 3.14%, 7/25/44 (144A) 3,693,294
750,000 Home Partners Of America 2017-1 Trust
Series 2017-1 Cl B, 2.435 %, 7/17/34 (144A) 752,408
2,100,000 2.86 Hyatt Hotel Portfolio Trust 2015-HYT, Floating
Rate Note, 11/15/29 (144A) 2,102,646
324,678 1.31 JP Morgan Chase Commercial Mortgage Securities
Trust 2006-LDP9, Floating Rate Note, 5/15/47 323,821
1,136,995 JP Morgan Chase Commercial Mortgage Securities
Trust 2011-C5, 4.1712%, 8/15/46 1,210,468
1,200,000 3.98 JP Morgan Chase Commercial Mortgage Securities
Trust 2012-C8, Floating Rate Note, 10/17/45 (144A) 1,244,541
4,555,234 JP Morgan Chase Commercial Mortgage Securities
Trust 2012-LC9, 2.84%, 12/15/47 4,609,592
The accompanying notes are an integral part of these financial statements.
28 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
4,600,000 3.11 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-CBM, Floating Rate Note,
10/15/29 (144A) $ 4,608,592
2,200,000 3.36 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL4 REMICS, Floating Rate Note,
12/16/30 (144A) 2,181,576
900,000 3.26 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL5 REMICS, Floating Rate Note,
7/15/31 (144A) 888,746
1,260,000 2.51 JP Morgan Chase Commercial Mortgage Securities
Trust 2014-FL5, Floating Rate Note, 7/15/31 (144A) 1,265,668
4,000,000 3.91 JP Morgan Chase Commercial Mortgage Securities
Trust 2015-SGP, Floating Rate Note, 7/15/36 (144A) 4,024,923
4,801,790 3.00 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 4,783,222
10,813,413 2.50 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 10,761,455
3,906,239 3.00 JP Morgan Mortgage Trust 2013-1, Floating Rate
Note, 3/25/43 (144A) 3,950,489
2,191,983 JP Morgan Mortgage Trust 2013-2 Series 2013-2
Cl B4, 3.659%, 5/25/43 (144A) 2,078,651
883,816 3.50 JP Morgan Mortgage Trust 2013-2, Floating Rate
Note, 5/25/43 (144A) 896,693
4,693,057 3.50 JP Morgan Mortgage Trust 2014-1 REMICS,
Floating Rate Note, 1/25/44 (144A) 4,761,435
3,017,935 3.75 JP Morgan Mortgage Trust 2014-1 REMICS,
Floating Rate Note, 1/25/44 (144A) 2,902,422
989,240 3.50 JP Morgan Mortgage Trust 2014-1 REMICS,
Floating Rate Note, 1/25/44 (144A) 1,001,180
3,144,224 3.75 JP Morgan Mortgage Trust 2014-1 REMICS,
Floating Rate Note, 1/25/44 (144A) 3,047,374
313,304 JP Morgan Mortgage Trust 2014-2 Series 2014-2
Cl B1, 3.424%, 6/25/29 (144A) 314,134
5,882,201 3.00 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 5,935,965
5,029,969 3.40 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 5,076,212
1,222,228 3.42 JP Morgan Mortgage Trust 2014-2, Floating Rate
Note, 6/25/29 (144A) 1,162,775
3,494,054 3.00 JP Morgan Mortgage Trust 2014-5, Floating Rate
Note, 10/25/29 (144A) 3,527,083
2,073,522 3.00 JP Morgan Mortgage Trust 2014-5, Floating Rate
Note, 10/25/29 (144A) 1,985,422
435,403 JP Morgan Mortgage Trust 2015-4 Series 2015-4
Cl B1, 3.625%, 6/25/45 (144A) 429,215
6,809,364 3.50 JP Morgan Mortgage Trust 2015-4, Floating Rate
Note, 6/26/45 (144A) 6,904,320
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 29
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
10,655,648 JP Morgan Mortgage Trust 2016-1, 3.5%,
5/25/46 (144A) $ 10,804,241
4,200,811 3.90 JP Morgan Mortgage Trust 2016-1, Floating Rate
Note, 5/25/46 (144A) 4,101,228
11,125,291 JP Morgan Mortgage Trust 2016-2, 2.690842%,
6/25/46 (144A) 10,972,710
13,421,292 3.00 JP Morgan Mortgage Trust 2016-3, Floating Rate
Note, 10/25/46 (144A) 13,565,598
9,244,860 3.50 JP Morgan Mortgage Trust 2016-4, Floating Rate
Note, 10/25/46 (144A) 9,416,758
7,121,633 3.50 JP Morgan Mortgage Trust 2017-1, Floating Rate
Note, 1/25/47 (144A) 7,216,493
9,000,000 3.50 JP Morgan Mortgage Trust 2017-1, Floating Rate
Note, 1/25/47 (144A) 9,045,279
13,444,326 JP Morgan Mortgage Trust 2017-2 Series 2017-2
Cl A3, 3.50%, 5/25/47 (144A) 13,639,672
1,465,547 JP Morgan Mortgage Trust 2017-2 Series 2017-2
Cl B1, 3.763%, 5/25/47, (144A) 1,470,382
11,641,701 2.60 JP Morgan Mortgage Trust, Floating Rate Note,
12/25/46 (144A) 11,617,508
7,856,984 2.62 JP Morgan Trust 2015-1 REMICS, Floating Rate
Note, 12/25/44 (144A) 7,803,776
3,671,268 3.00 JP Morgan Trust 2015-3 REMICS, Floating Rate
Note, 5/25/45 (144A) 3,678,222
3,203,127 3.70 JP Morgan Trust 2015-3 REMICS, Floating Rate
Note, 5/25/45 (144A) 3,230,336
4,377,768 3.70 JP Morgan Trust 2015-3 REMICS, Floating Rate
Note, 5/25/45 (144A) 4,165,435
313,329 JP Morgan Trust 2015-6 Series 2015-6 Cl B1,
3.621% , 10/25/45, (144A) 310,850
3,676,192 3.50 JP Morgan Trust 2015-6, Floating Rate Note,
10/25/45 (144A) 3,727,456
4,050,000 JPMBB Commercial Mortgage Securities Trust
2014-C22 REMICS, 3.8012%, 9/15/47 4,238,589
2,000,000 3.22 JPMDB Commercial Mortgage Securities Trust
2016-C4, Floating Rate Note, 12/15/49 (144A) 1,547,578
2,142,952 La Hipotecaria El Salvadorian Mortgage Trust
2016-1, 3.3575%, 1/15/46 (144A) 2,168,475
1,282,235 2.25 La Hipotecaria Panamanian Mortgage Trust
2010-1, Floating Rate Note, 9/8/39 (144A) 1,327,514
3,476,825 3.01 La Hipotecaria Panamanian Mortgage Trust
2014-1, Floating Rate Note, 11/24/42 (144A) 3,496,383
3,690,000 3.35 LSTAR Commercial Mortgage Trust 2015-3,
Floating Rate Note, 4/20/48 (144A) 3,680,749
1,865,102 Marketplace Loan Trust 2016-BS1 Series
2016 Cl A, 4.50%, 1/15/21 (144A) 1,868,599
The accompanying notes are an integral part of these financial statements.
30 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
546,935 1.60 Mellon Residential Funding Corp. Mortgage
Pass-Through Trust Series 2000-TBC3, Floating
Rate Note, 12/15/30 $ 529,442
11,260,000 Mill City Mortgage Loan Trust 2017-2 Series
2017-2 Cl A1, 2.75 %, 7/25/59 (144A) 11,364,211
5,750,000 Morgan Stanley Bank of America Merrill Lynch
Trust 2012-C6, 2.858%, 11/15/45 5,834,333
9,231,000 Morgan Stanley Bank of America Merrill Lynch
Trust 2016-C31, 3.527%, 10/15/26 9,372,163
2,850,883 Morgan Stanley Capital I Trust 2007-HQ13,
5.569%, 12/15/44 2,866,276
5,309,000 Morgan Stanley Capital I Trust 2016-UBS12,
3.596%, 12/15/49 5,487,236
6,059,645 3.75 New Residential Mortgage Loan Trust 2015-1,
Floating Rate Note, 5/28/52 (144A) 6,170,806
4,917,280 3.75 New Residential Mortgage Loan Trust 2015-2,
Floating Rate Note, 8/25/55 (144A) 4,966,988
10,369,444 New Residential Mortgage Loan Trust 2017-2
Series 2017-2A Cl A, 4.00%, 3/25/57 (144A) 10,796,819
10,312,883 New Residential Mortgage Loan Trust 2017-2
Series 2017-2A Cl A4, 4.00%, 3/25/57 (144A) 10,714,693
4,563,800 3.31 NRP Mortgage Trust 2013-1, Floating Rate
Note, 7/25/43 (144A) 4,386,841
6,427,468 3.25 NRP Mortgage Trust 2013-1, Floating Rate
Note, 7/25/43 (144A) 6,432,237
6,024,837 3.31 NRP Mortgage Trust 2013-1, Floating Rate
Note, 7/25/43 (144A) 5,833,622
1,353,713 Pepper Residential Securities Trust No 18
Series 18A Cl A1UA, 2.1088%, 3/12/47 1,365,526
5,007,571 3.56 PMT Loan Trust 2013-J1, Floating Rate Note,
9/25/43 (144A) 4,784,620
256,404 RAAC Series 2004-SP2 Trust, 6.0%, 1/25/32 256,309
80,905 RALI Series 2003-QS14 Trust, 5.0%, 7/25/18 80,999
1,307,843 2.77 RESI Finance LP 2003-CB1, Floating Rate
Note, 7/9/35 1,206,093
948,349 Resimac Premier Seriesies 2017-1 Series
2017-1A Cl A1A, 2.077%, 9/11/48 (144A) 949,405
50,386 RREF 2015-LT7 LLC, 3.0%, 12/27/32 (144A) 50,386
1,502,358 Sequoia Mortgage Trust 2017-1 Series 2017-1
Cl A4, 3.50% , 2/25/47 (144A) 1,534,084
3,472,536 1.81 Sequoia Mortgage Trust 2012-6, Floating Rate
Note, 12/26/42 3,245,749
4,103,028 3.65 Sequoia Mortgage Trust 2013-1, Floating Rate
Note, 2/25/43 4,116,266
6,703,845 3.56 Sequoia Mortgage Trust 2013-10, Floating Rate
Note, 8/25/43 (144A) 6,672,419
1,985,341 1.87 Sequoia Mortgage Trust 2013-2, Floating Rate
Note, 2/25/43 1,901,042
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 31
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
6,418,774 2.33 Sequoia Mortgage Trust 2013-4 REMICS, Floating
Rate Note, 4/27/43 $ 6,177,296
1,268,983 1.55 Sequoia Mortgage Trust 2013-4, Floating Rate
Note, 4/27/43 1,234,506
5,979,557 3.49 Sequoia Mortgage Trust 2013-4, Floating Rate
Note, 4/27/43 5,965,364
5,708,758 2.50 Sequoia Mortgage Trust 2013-5 REMICS, Floating
Rate Note, 5/25/43 (144A) 5,538,611
9,402,963 3.00 Sequoia Mortgage Trust 2013-5 REMICS, Floating
Rate Note, 5/25/43 (144A) 9,364,604
7,109,572 2.50 Sequoia Mortgage Trust 2013-6, Floating Rate
Note, 5/26/43 6,900,338
9,699,392 2.50 Sequoia Mortgage Trust 2013-7, Floating Rate
Note, 6/25/43 9,213,171
3,088,787 3.00 Sequoia Mortgage Trust 2013-7, Floating Rate
Note, 6/25/43 3,053,677
405,198 2.25 Sequoia Mortgage Trust 2013-8, Floating Rate
Note, 6/25/43 390,367
9,502,897 3.00 Sequoia Mortgage Trust 2013-8, Floating Rate
Note, 6/25/43 9,377,174
1,309,677 Sequoia Mortgage Trust 2013-9, 3.5%, 7/27/43 (144A) 1,307,477
666,605 Sequoia Mortgage Trust 2013-9, 3.5%, 7/27/43 (144A) 663,695
4,612,529 3.00 Sequoia Mortgage Trust 2015-1, Floating Rate
Note, 1/25/45 (144A) 4,519,624
8,286,591 3.50 Sequoia Mortgage Trust 2015-2, Floating Rate
Note, 5/25/45 (144A) 8,376,252
3,775,366 3.72 Sequoia Mortgage Trust 2015-3, Floating Rate
Note, 7/25/45 (144A) 3,598,018
9,304,923 3.00 Sequoia Mortgage Trust 2015-4, Floating Rate
Note, 11/25/30 (144A) 9,387,067
4,804,367 3.50 Sequoia Mortgage Trust 2016-2, Floating Rate
Note, 8/25/46 (144A) 4,800,178
3,907,995 3.77 Sequoia Mortgage Trust 2016-2, Floating Rate
Note, 8/25/46 (144A) 3,788,863
10,401,577 3.50 Sequoia Mortgage Trust 2017-2, Floating Rate
Note, 3/25/47 (144A) 10,641,541
8,228,710 Sequoia Mortgage Trust 2017-3 Series 2017-3
Cl A1, 3.50% , 4/25/47 (144A) 8,318,063
3,560,000 Sequoia Mortgage Trust 2017-4 Series 2017-4
Cl A4 3.50%, 7/25/47 (144A) 3,635,080
3,288,464 3.50 Sequoia Mortgage Trust, Floating Rate Note, 9/25/42 3,329,800
291,779 Shellpoint Co-Originator Trust 2016-1 Series
2016-1 Cl 1A10, 3.50%, 11/25/46 (144A) 296,873
6,853,272 3.00 Shellpoint Co-Originator Trust 2016-1, Floating
Rate Note, 10/25/31 (144A) 6,894,498
The accompanying notes are an integral part of these financial statements.
32 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Thrifts & Mortgage Finance -- (continued)
7,018,349 Shellpoint Co-Originator Trust 2017-1 Series 2017-1
Cl A1, 3.50% , 4/25/47 (144A) $ 7,097,046
3,087,421 3.00 Sofi Mortgage Trust 2016-1, Floating Rate Note,
11/25/46 (144A) 3,011,322
420,490 1.32 Structured Asset Securities Corp. Trust 2005-14,
Floating Rate Note, 7/25/35 335,189
1,669,158 3.65 Velocity Commercial Capital Loan Trust 2015-1,
Floating Rate Note, 6/25/45 (144A) 1,680,604
1,015,053 Wells Fargo Commercial Mortgage Trust 2010-C1,
3.349%, 11/18/43 (144A) 1,034,660
4,500,000 Wells Fargo Commercial Mortgage Trust
2014-LC16 REMICS, 3.477%, 8/15/50 4,699,730
5,300,000 2.84 Wells Fargo Commercial Mortgage Trust 2014-TISH
REMICS, Floating Rate Note, 2/15/27 (144A) 5,309,517
3,810,000 Wells Fargo Commercial Mortgage Trust 2015-NXS3,
3.617%, 9/17/57 3,943,516
891,640 3.97 Wells Fargo Credit Risk Transfer Securities Trust
2015, Floating Rate Note, 11/25/25 (144A) 895,351
1,710,864 4.07 Wells Fargo Credit Risk Transfer Securities Trust
2015, Floating Rate Note, 11/25/25 (144A) 1,719,307
3,900,000 4.49 WFRBS Commercial Mortgage Trust 2013-C12,
Floating Rate Note, 3/15/48 (144A) 3,630,535
6,200,000 WFRBS Commercial Mortgage Trust 2013-C16,
4.136%, 9/17/46 6,651,158
8,341,850 3.91 WinWater Mortgage Loan Trust 2015-2, Floating
Rate Note, 2/20/45 (144A) 7,890,951
4,617,338 3.50 WinWater Mortgage Loan Trust 2015-3 REMICS,
Floating Rate Note, 3/20/45 (144A) 4,667,298
8,454,695 3.50 WinWater Mortgage Loan Trust 2015-4, Floating
Rate Note, 6/20/45 (144A) 8,585,806
6,229,286 3.50 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 6,244,127
4,744,011 3.80 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 4,760,708
4,500,182 3.80 WinWater Mortgage Loan Trust 2015-5, Floating
Rate Note, 8/20/45 (144A) 4,230,129
1,000,358 Winwater Mortgage Loan Trust 2015-A Series
2015-A Cl A5 3.50%, 6/20/45 (144A) 1,018,333
3,570,920 3.50 WinWater Mortgage Loan Trust 2016-1, Floating
Rate Note, 1/22/46 (144A) 3,614,021
--------------
$ 828,449,540
--------------
Total Banks $ 828,449,540
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 33
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.0%+
Specialized Finance -- 0.0%+
1,980,000 2.99 BAMLL Commercial Mortgage Securities Trust
2015-ASHF REMICS, Floating Rate Note,
1/15/28 (144A) $ 1,986,011
--------------
Total Diversified Financials $ 1,986,011
----------------------------------------------------------------------------------------------------
GOVERNMENT -- 0.9%
63,333 1.39 Federal Home Loan Mortgage Corp. REMICS,
Floating Rate Note, 12/15/20 $ 63,608
693,590 3.62 Federal National Mortgage Association 2004-T2,
Floating Rate Note, 7/25/43 734,226
748 Federal National Mortgage Association REMICS,
10.3%, 4/25/19 783
1,309,280 Federal National Mortgage Association REMICS,
3.0%, 6/25/23 1,341,011
402,859 Federal National Mortgage Association REMICS,
4.5%, 6/25/29 428,408
7,714,886 Freddie Mac Whole Loan Securities Trust
2015-SC01, 3.5%, 5/25/45 7,763,528
890,000 5.37 FREMF Mortgage Trust 2010-K9 REMICS, Floating
Rate Note, 9/25/45 (144A) 963,143
1,250,000 5.05 FREMF Mortgage Trust 2011-K703, Floating Rate
Note, 7/25/44 (144A) 1,278,416
2,221,785 5.06 FREMF Mortgage Trust 2014-KF05 REMICS,
Floating Rate Note, 9/25/21 (144A) 2,242,361
3,771,758 3.57 FREMF Mortgage Trust 2014-KS02 REMICS,
Floating Rate Note, 8/25/23 (144A) 3,757,727
2,010,000 3.94 FREMF Mortgage Trust Class B, Floating Rate
Note, 6/25/47 (144A) 2,065,831
772,834 Government National Mortgage Association
REMICS, 3.25%, 4/16/27 795,473
953,879 Government National Mortgage Association,
3.0%, 4/20/41 972,866
975,835 Government National Mortgage Association,
5.25%, 8/16/35 1,071,245
69,987,088 0.80 Government National Mortgage Association,
Floating Rate Note, 10/16/58 (h) 5,906,665
12,158,904 Seasoned Credit Risk Transfer Trust Series 2016-1,
3.0%, 9/25/55 12,186,434
364,403 Vendee Mortgage Trust 2008-1, 5.25%, 1/15/32 385,971
671,225 Vendee Mortgage Trust 2010-1, 4.25%, 2/15/35 688,341
--------------
$ 42,646,037
--------------
Total Government $ 42,646,037
----------------------------------------------------------------------------------------------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $879,554,236) $ 873,081,588
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
34 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
CORPORATE BONDS -- 33.9%
ENERGY -- 4.3%
Oil & Gas Drilling -- 0.2%
1,850,000 Freeport-McMoRan, Inc., 3.875%, 3/15/23 $ 1,720,500
1,650,000 Freeport-McMoRan, Inc., 4.55%, 11/14/24 1,555,125
6,185,000 Rowan Companies, Inc., 4.75%, 1/15/24 5,257,250
3,605,000 Rowan Companies, Inc., 5.85%, 1/15/44 2,676,712
--------------
$ 11,209,587
----------------------------------------------------------------------------------------------------
Oil & Gas Equipment & Services -- 0.1%
2,250,000 Halliburton Co., 7.6%, 8/15/96 (144A) $ 2,919,964
----------------------------------------------------------------------------------------------------
Integrated Oil & Gas -- 0.7%
6,360,000 BP Capital Markets Plc, 3.062%, 3/17/22 $ 6,500,995
5,965,000 Petroleos Mexicanos, 3.5%, 1/30/23 5,717,452
3,525,000 Petroleos Mexicanos, 6.5%, 3/13/27 (144A) 3,786,731
4,750,000 Sinopec Group Overseas Development 2014, Ltd.,
4.375%, 4/10/24 (144A) 5,051,046
10,050,000 Sinopec Group Overseas Development 2015, Ltd.,
2.5%, 4/28/20 (144A) 10,097,322
--------------
$ 31,153,546
----------------------------------------------------------------------------------------------------
Oil & Gas Exploration & Production -- 0.4%
6,585,000 Canadian Natural Resources, Ltd., 6.25%, 3/15/38 $ 7,675,002
2,830,000 Canadian Natural Resources, Ltd., 6.75%, 2/1/39 3,372,053
5,275,000 CNOOC Nexen Finance 2014 ULC, 4.25%, 4/30/24 5,550,471
1,400,000 Newfield Exploration Co., 5.625%, 7/1/24 1,459,500
--------------
$ 18,057,026
----------------------------------------------------------------------------------------------------
Oil & Gas Refining & Marketing -- 0.4%
5,827,000 EnLink Midstream Partners LP, 4.4%, 4/1/24 $ 5,915,565
1,800,000 EnLink Midstream Partners LP, 4.85%, 7/15/26 1,872,752
3,800,000 Motiva Enterprises LLC, 6.85%, 1/15/40 (144A) 4,588,272
4,655,000 Valero Energy Corp., 6.625%, 6/15/37 5,749,390
2,890,000 Valero Energy Corp., 9.375%, 3/15/19 3,234,107
--------------
$ 21,360,086
----------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- 2.5%
10,945,000 Boardwalk Pipelines LP, 4.95%, 12/15/24 $ 11,594,925
2,575,000 Boardwalk Pipelines LP, 5.95%, 6/1/26 2,867,296
2,900,000 DCP Midstream Operating LP, 9.75%, 3/15/19 (144A) 3,240,750
8,250,000 Enable Midstream Partner, 3.90%, 5/15/24 8,181,393
8,585,000 Enbridge Energy Partners LP, 7.375%, 10/15/45 10,933,229
3,275,000 Energy Transfer Equity LP, 5.875%, 1/15/24 3,471,500
4,675,000 Kinder Morgan Energy Partners LP, 4.25%, 9/1/24 4,830,360
8,235,000 Kinder Morgan, Inc. Delaware, 5.05%, 2/15/46 8,269,620
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 35
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- (continued)
7,335,000 Kinder Morgan, Inc. Delaware, 5.55%, 6/1/45 $ 7,773,083
3,875,000 MPLX LP, 4.875%, 12/1/24 4,131,393
3,045,000 MPLX LP, 4.875%, 6/1/25 3,228,912
3,875,000 MPLX LP, 5.5%, 2/15/23 3,978,734
9,165,000 Plains All American Pipeline LP, 4.65%, 10/15/25 9,394,033
5,300,000 Plains All American Pipeline LP, 4.7%, 6/15/44 4,831,167
10,675,000 Sabine Pass Liquefaction LLC, 5.00%, 3/15/27 11,363,239
2,475,000 Spectra Energy Capital LLC, 6.2%, 4/15/18 2,554,789
1,500,000 Spectra Energy Capital LLC, 6.75%, 7/15/18 1,566,093
786,000 Sunoco Logistics Partners Operations LP,
6.1%, 2/15/42 825,872
2,475,000 The Williams Companies, Inc., 7.75%, 6/15/31 2,945,250
5,115,000 TransCanada PipeLines, Ltd., 1.875%, 1/12/18 5,121,849
8,230,000 Williams Partners LP, 5.1%, 9/15/45 8,526,296
--------------
$ 119,629,783
--------------
Total Energy $ 204,329,992
----------------------------------------------------------------------------------------------------
MATERIALS -- 1.2%
Commodity Chemicals -- 0.1%
2,890,000 Nova Chemicals Corp., 4.875%, 6/1/24 (144A) $ 2,879,162
----------------------------------------------------------------------------------------------------
Diversified Chemicals -- 0.2%
10,255,000 CF Industries, Inc., 5.375%, 3/15/44 $ 9,152,588
----------------------------------------------------------------------------------------------------
Fertilizers & Agricultural Chemicals -- 0.3%
2,800,000 Agrium, Inc., 4.125%, 3/15/35 $ 2,786,400
10,800,000 Agrium, Inc., 5.25%, 1/15/45 12,260,743
--------------
$ 15,047,143
----------------------------------------------------------------------------------------------------
Construction Materials -- 0.2%
10,600,000 CRH America, Inc., 3.875%, 5/18/25 (144A) $ 11,015,743
----------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.1%
4,650,000 Crown America, 4.25%, 9/30/26 (144A) $ 4,638,375
----------------------------------------------------------------------------------------------------
Paper Packaging -- 0.1%
1,275,000 International Paper Co., 4.80%, 6/15/44 $ 1,360,960
2,575,000 International Paper Co., 6.0%, 11/15/41 3,140,205
--------------
$ 4,501,165
----------------------------------------------------------------------------------------------------
Steel -- 0.1%
3,550,000 Commercial Metals Co., 4.875%, 5/15/23 $ 3,589,938
--------------
Total Materials $ 50,824,114
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
36 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 2.2%
Aerospace & Defense -- 1.3%
3,625,000 Embraer Netherlands Finance BV, 5.4%, 2/1/27 $ 3,788,125
7,472,000 L3 Technologies, Inc., 3.95%, 5/28/24 7,682,875
11,310,000 Lockheed Martin Corp., 3.1%, 1/15/23 11,571,182
4,825,000 Meccanica Holdings USA, Inc., 6.25%, 1/15/40 (144A) 5,404,000
13,470,000 Rockwell Collins Inc., 3.20%, 3/15/24 13,653,892
7,855,000 Spirit AeroSystems, Inc., 3.85%, 6/15/26 7,929,159
10,344,000 United Technologies Corp., 1.778%, 5/4/18 (Step) 10,357,271
--------------
$ 60,386,504
----------------------------------------------------------------------------------------------------
Building Products -- 0.6%
7,680,000 Fortune Brands Home & Security, Inc., 3.0%, 6/15/20 $ 7,777,528
5,500,000 Masco Corp., 4.375%, 4/1/26 5,866,850
1,050,000 Masco Corp., 4.45%, 4/1/25 1,121,505
626,000 Masco Corp., 5.95%, 3/15/22 706,656
5,675,000 Owens Corning, 3.4%, 8/15/26 5,590,465
5,150,000 Owens Corning, 4.2%, 12/1/24 5,392,488
4,385,000 Standard Industries Inc., 5.50%, 2/15/23 (144A) 4,626,175
--------------
$ 31,081,667
----------------------------------------------------------------------------------------------------
Construction & Engineering -- 0.1%
1,368,000 Amsted Industries, Inc., 5.0%, 3/15/22 (144A) $ 1,412,460
1,375,000 Amsted Industries, Inc., 5.375%, 9/15/24 (144A) 1,423,125
--------------
$ 2,835,585
----------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.1%
1,392,000 General Electric Co., 5.3%, 2/11/21 $ 1,539,403
2,950,000 Tyco Electronics Group SA, 6.55%, 10/1/17 2,984,949
--------------
$ 4,524,352
----------------------------------------------------------------------------------------------------
Trading Companies & Distributors -- 0.1%
5,660,000 GATX Corp., 6.0%, 2/15/18 $ 5,804,443
--------------
Total Capital Goods $ 104,632,551
----------------------------------------------------------------------------------------------------
COMMERCIAL SERVICES & SUPPLIES -- 0.2%
Environmental & Facilities Services -- 0.1%
2,678,000 Republic Services, Inc., 2.9%, 7/1/26 $ 2,625,567
----------------------------------------------------------------------------------------------------
Research & Consulting Services -- 0.1%
5,942,000 Verisk Analytics, Inc., 5.5%, 6/15/45 $ 6,601,550
--------------
Total Commercial Services & Supplies $ 9,227,117
----------------------------------------------------------------------------------------------------
TRANSPORTATION -- 1.1%
Airlines -- 0.1%
2,475,000 Delta Air Lines, Inc., 2.875%, 3/13/20 $ 2,507,362
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 37
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Railroads -- 0.8%
14,485,000 Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 $ 15,141,460
6,650,000 TTX Co., 3.6%, 1/15/25 (144A) 6,696,776
3,250,000 TTX Co., 4.2%, 7/1/46 (144A) 3,250,611
13,215,000 Union Pacific Corp., 3.375%, 2/1/35 13,069,146
--------------
$ 38,157,993
----------------------------------------------------------------------------------------------------
Highways & Railtracks -- 0.2%
3,950,000 ERAC USA Finance LLC, 3.3%, 12/1/26 (144A) $ 3,845,996
1,300,000 ERAC USA Finance LLC, 3.8%, 11/1/25 (144A) 1,325,113
4,600,000 ERAC USA Finance LLC, 4.5%, 2/15/45 (144A) 4,534,261
--------------
$ 9,705,370
--------------
Total Transportation $ 50,370,725
----------------------------------------------------------------------------------------------------
AUTOMOBILES & COMPONENTS -- 0.6%
Automobile Manufacturers -- 0.6%
4,975,000 Ford Motor Credit Co., LLC, 2.24%, 6/15/18 $ 4,987,114
6,425,000 Ford Motor Credit Co., LLC, 3.219%, 1/9/22 6,482,118
8,230,000 Ford Motor Credit Co., LLC, 4.389%, 1/8/26 8,477,336
10,045,000 Toyota Motor Credit Corp., 2.125%, 7/18/19 10,114,712
--------------
$ 30,061,280
--------------
Total Automobiles & Components $ 30,061,280
----------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.1%
Homebuilding -- 0.1%
5,120,000 Lennar Corp., 4.75%, 4/1/21 $ 5,427,200
--------------
Total Consumer Durables & Apparel $ 5,427,200
----------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Education Services -- 0.2%
1,100,000 Massachusetts Institute of Technology,
5.6%, 7/1/11 $ 1,436,919
2,600,000 President & Fellows of Harvard College,
2.3%, 10/1/23 2,585,396
3,550,000 Tufts University, 5.017%, 4/15/12 3,650,461
--------------
$ 7,672,776
--------------
Total Consumer Services $ 7,672,776
----------------------------------------------------------------------------------------------------
MEDIA -- 0.8%
Cable & Satellite -- 0.8%
8,845,000 Charter Communications Operating LLC,
6.384%, 10/23/35 $ 10,484,447
10,310,000 Comcast Corp., 5.65%, 6/15/35 12,634,390
11,875,000 Cox Communications Inc., 3.35%, 9/15/26 (144A) 11,660,609
650,000 Time Warner Cable LLC, 6.55%, 5/1/37 776,175
3,450,000 Videotron, Ltd., 5.375%, 6/15/24 (144A) 3,644,062
--------------
$ 39,199,683
--------------
Total Media $ 39,199,683
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
38 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
RETAILING -- 0.6%
Internet Retail -- 0.4%
5,900,000 Expedia, Inc., 4.5%, 8/15/24 $ 6,208,859
950,000 Expedia, Inc., 5.0%, 2/15/26 1,040,208
3,800,000 Expedia, Inc., 5.95%, 8/15/20 4,152,610
1,925,000 The Priceline Group, Inc., 3.6%, 6/1/26 1,948,610
7,375,000 The Priceline Group, Inc., 3.65%, 3/15/25 7,567,967
--------------
$ 20,918,254
----------------------------------------------------------------------------------------------------
Home Improvement Retail -- 0.1%
4,520,000 The Home Depot, Inc., 2.625%, 6/1/22 $ 4,588,333
----------------------------------------------------------------------------------------------------
Automotive Retail -- 0.1%
3,994,000 AutoZone, Inc., 2.5%, 4/15/21 $ 3,983,572
--------------
Total Retailing $ 29,490,159
----------------------------------------------------------------------------------------------------
FOOD & STAPLES RETAILING -- 0.2%
Drug Retail -- 0.2%
650,000 CVS Health Corp., 2.25%, 8/12/19 $ 653,925
559,867 CVS Pass-Through Trust, 5.298%, 1/11/27 (144A) 604,041
2,741,942 CVS Pass-Through Trust, 5.773%, 1/10/33 (144A) 3,115,666
1,880,296 CVS Pass-Through Trust, 5.926%, 1/10/34 (144A) 2,155,560
3,628,502 CVS Pass-Through Trust, 6.036%, 12/10/28 4,093,129
--------------
$ 10,622,321
--------------
Total Food & Staples Retailing $ 10,622,321
----------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 1.3%
Brewers -- 0.1%
4,350,000 2.29 Anheuser-Busch InBev Finance, Inc., Floating Rate
Note, 2/1/21 $ 4,505,151
----------------------------------------------------------------------------------------------------
Distillers & Vintners -- 0.4%
8,525,000 Constellation Brands, Inc., 3.7%, 12/6/26 $ 8,676,072
5,300,000 Pernod Ricard SA, 3.25%, 6/8/26 (144A) 5,300,228
4,277,000 Pernod Ricard SA, 4.45%, 1/15/22 (144A) 4,585,722
--------------
$ 18,562,022
----------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.5%
5,687,000 Kraft Heinz Foods Co., 3.5%, 6/6/22 $ 5,875,808
4,353,000 Kraft Heinz Foods Co., 3.95%, 7/15/25 4,476,059
4,119,000 Mondelez International Holdings Co., 2.00%,
10/28/21 (144A) 4,013,216
6,375,000 Smithfield Foods, Inc., 2.7%, 1/31/20 (144A) 6,408,611
3,075,000 Tyson Foods Inc., 1.76%, 6/2/20 3,088,917
--------------
$ 23,862,611
----------------------------------------------------------------------------------------------------
Tobacco -- 0.3%
14,708,000 Reynolds American, Inc., 4.45%, 6/12/25 $ 15,757,416
--------------
Total Food, Beverage & Tobacco $ 62,687,200
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 39
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.6%
Health Care Equipment -- 0.2%
8,016,000 Becton Dickinson and Co., 3.734%, 12/15/24 $ 8,147,350
----------------------------------------------------------------------------------------------------
Health Care Distributors -- 0.2%
8,000,000 Cardinal Health, Inc., 3.079% , 6/15/24 $ 8,019,296
----------------------------------------------------------------------------------------------------
Health Care Facilities -- 0.0%+
2,400,000 NYU Hospitals Center, 4.428%, 7/1/42 $ 2,472,374
----------------------------------------------------------------------------------------------------
Managed Health Care -- 0.2%
3,630,000 Humana Inc., 3.95%, 3/15/27 $ 3,783,026
4,155,000 Molina Healthcare, Inc., 5.375%, 11/15/22 4,399,106
--------------
$ 8,182,132
--------------
Total Health Care Equipment & Services $ 26,821,152
----------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES -- 2.0%
Biotechnology -- 1.0%
925,000 AbbVie, Inc., 2.85%, 5/14/23 $ 922,935
1,370,000 AbbVie, Inc., 3.2%, 5/14/26 1,353,822
12,760,000 AbbVie, Inc., 3.6%, 5/14/25 13,016,017
8,035,000 Amgen, Inc., 4.4%, 5/1/45 8,253,142
2,350,000 Amgen, Inc., 5.375%, 5/15/43 2,661,015
12,900,000 Baxalta, Inc., 3.6%, 6/23/22 13,358,363
3,550,000 Biogen, Inc., 3.625%, 9/15/22 3,712,803
4,275,000 Biogen, Inc., 4.05%, 9/15/25 4,513,498
--------------
$ 47,791,595
----------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.7%
3,150,000 Johnson & Johnson, 4.375%, 12/5/33 $ 3,582,652
11,155,000 Mylan NV, 3.95%, 6/15/26 11,302,681
1,391,000 Perrigo Finance Unlimited Co., 3.5%, 3/15/21 1,437,012
4,570,000 Perrigo Finance Unlimited Co., 3.9%, 12/15/24 4,640,314
2,481,000 Perrigo Finance Unlimited Co., 4.375%, 3/15/26 2,558,764
10,140,000 Teva Pharmaceutical Finance Netherlands III BV,
2.8%, 7/21/23 9,862,620
--------------
$ 33,384,043
----------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.3%
894,000 Agilent Technologies, Inc., 6.5%, 11/1/17 $ 906,840
11,200,000 Thermo Fisher Scientific, Inc., 3.0%, 4/15/23 11,290,922
--------------
$ 12,197,762
--------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 93,373,400
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
40 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
BANKS -- 3.8%
Diversified Banks -- 3.4%
6,485,000 Australia & New Zealand Banking Group, Ltd.,
4.5%, 3/19/24 (144A) $ 6,774,289
4,600,000 9.00 Banco Bilbao Vizcaya Argentaria SA, Floating Rate
Note (Perpetual) 4,806,945
1,150,000 Bank of America Corp., 4.2%, 8/26/24 1,193,820
3,950,000 6.10 Bank of America Corp., Floating Rate Note (Perpetual) 4,291,082
4,450,000 Banque Ouest Africaine de Developpement,
5.5%, 5/6/21 (144A) 4,715,487
2,565,000 Barclays Bank Plc, 6.05%, 12/4/17 (144A) 2,609,018
5,250,000 Barclays Plc, 3.65%, 3/16/25 5,223,902
3,000,000 Barclays Plc, 4.375%, 1/12/26 3,117,348
1,200,000 BBVA Bancomer SA Texas, 4.375%, 4/10/24 (144A) 1,245,600
1,915,000 BBVA Bancomer SA Texas, 6.5%, 3/10/21 (144A) 2,108,894
17,005,000 7.62 BNP Paribas SA, Floating Rate Note (Perpetual) (144A) 18,705,500
3,860,000 BPCE SA, 4.875%, 4/1/26 (144A) 4,075,870
11,776,000 6.25 Citigroup, Inc., Floating Rate Note (Perpetual) 13,064,000
1,985,000 5.90 Citigroup, Inc., Floating Rate Note (Perpetual) 2,124,446
3,435,000 Cooperatieve Rabobank UA, 3.875%, 2/8/22 3,644,147
6,425,000 Cooperatieve Rabobank UA, 3.95%, 11/9/22 6,710,347
11,200,000 Credit Suisse Group Funding Guernsey, Ltd.,
3.8%, 9/15/22 11,636,587
3,416,000 Danske Bank, 6.125%, 12/31/49 3,569,720
1,305,000 HSBC Bank Plc, 7.65%, 5/1/25 1,618,864
4,525,000 6.88 HSBC Holdings Plc, Floating Rate Note (Perpetual) 4,887,000
11,106,000 6.50 ING Groep NV, Floating Rate Note, 12/29/49 11,670,185
2,749,000 JPMorgan Chase & Co., 5.625%, 8/16/43 3,302,632
5,125,000 Macquarie Bank, Ltd., 4.875%, 6/10/25 (144A) 5,397,537
840,000 Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 946,622
4,500,000 Nordea Bank AB, 4.25%, 9/21/22 (144A) 4,772,115
5,600,000 6.12 Nordea Bank AB, Floating Rate Note (Perpetual) (144A) 5,852,000
10,505,000 8.62 Royal Bank of Scotland Group Plc, Floating Rate
Note (Perpetual) 11,450,450
2,600,000 4.50 Scotiabank Peru SAA, Floating Rate Note,
12/13/27 (144A) 2,664,610
2,400,000 7.38 Societe Generale SA, Floating Rate Note
(Perpetual) (144A) 2,580,000
4,800,000 Standard Chartered Plc, 3.95%, 1/11/23 (144A) 4,840,901
2,250,000 Turkiye Garanti Bankasi, 6.125%, 5/24/27 (144A) 2,227,347
3,540,000 Wells Fargo Bank NA, 6.0%, 11/15/17 3,596,010
--------------
$ 165,423,275
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 41
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Regional Banks -- 0.4%
7,000,000 Credit Suisse AG New York NY, 1.75%, 1/29/18 $ 7,003,787
7,378,000 KeyCorp, 5.1%, 3/24/21 8,072,550
1,435,000 PNC Bank NA, 6.0%, 12/7/17 1,461,052
--------------
$ 16,537,389
--------------
Total Banks $ 181,960,664
----------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 3.0%
Other Diversified Financial Services -- 0.0%+
1,250,000 0.00 Tiers Trust, Floating Rate Note, 10/15/97 (144A) (d) $ 1,547,747
----------------------------------------------------------------------------------------------------
Specialized Finance -- 0.7%
2,980,000 Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) $ 3,281,132
13,250,000 2.75 Mass Mutual Global Funding, Inc., 2.75%,
6/22/24 (144A) 13,152,109
2,000,000 National Rural Utilities Cooperative Finance Corp.,
5.45%, 2/1/18 2,043,650
11,625,000 USAA Capital Corp., 2.45%, 8/1/20 (144A) 11,728,358
--------------
$ 30,205,249
----------------------------------------------------------------------------------------------------
Consumer Finance -- 0.9%
2,250,000 Ally Financial, Inc., 4.625%, 3/30/25 $ 2,304,405
5,050,000 Ally Financial, Inc., 5.125%, 9/30/24 5,327,346
7,695,000 American Honda Finance Corp., 1.2%, 7/14/17 7,694,638
1,465,000 Capital One Bank USA NA, 8.8%, 7/15/19 1,644,903
7,275,000 Capital One Financial Corp., 3.75%, 4/24/24 7,433,821
2,300,000 General Motors Financial Co., Inc., 3.7%, 11/24/20 2,379,741
10,710,000 General Motors Financial Co., Inc., 4.0%, 1/15/25 10,755,550
6,200,000 Hyundai Capital America, 2.0%, 3/19/18 (144A) 6,204,173
--------------
$ 43,744,577
----------------------------------------------------------------------------------------------------
Asset Management & Custody Banks -- 0.5%
1,725,000 Blackstone Holdings Finance Co., LLC, 5.0%,
6/15/44 (144A) $ 1,876,665
6,445,000 Blackstone Holdings Finance Co., LLC, 6.25%,
8/15/42 (144A) 8,027,860
2,400,000 Legg Mason, Inc., 3.95%, 7/15/24 2,434,901
2,175,000 Legg Mason, Inc., 4.75%, 3/15/26 2,298,103
10,345,000 2.22 The Bank of New York Mellon Corp., Floating Rate
Note, 10/30/23 10,577,711
--------------
$ 25,215,240
----------------------------------------------------------------------------------------------------
Investment Banking & Brokerage -- 0.4%
5,450,000 Morgan Stanley, 4.1%, 5/22/23 $ 5,689,582
300,000 Morgan Stanley, 4.875%, 11/1/22 325,724
643,000 North American Development Bank, 2.3%, 10/10/18 647,050
The accompanying notes are an integral part of these financial statements.
42 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Investment Banking & Brokerage -- (continued)
6,200,000 TD Ameritrade Holding Co., 3.30%, 4/1/27 $ 6,192,194
4,400,000 UBS AG, 7.625%, 8/17/22 5,165,600
--------------
$ 18,020,150
----------------------------------------------------------------------------------------------------
Diversified Capital Markets -- 0.5%
4,115,000 Credit Suisse Group AG, 7.125%, 7/29/65 $ 4,425,682
4,031,000 GE Capital International Funding Co Unlimited
Co., 2.342%, 11/15/20 4,063,228
6,900,000 2.85 ICBCIL Finance Co., Ltd., Floating Rate Note,
11/13/18 (144A) 6,960,368
2,730,000 Macquarie Group, Ltd., 6.0%, 1/14/20 (144A) 2,965,705
2,355,000 UBS Group AG, 7.125% , 8/1/65 2,541,045
--------------
$ 20,956,028
--------------
Total Diversified Financials $ 139,688,991
----------------------------------------------------------------------------------------------------
INSURANCE -- 4.5%
Insurance Brokers -- 0.2%
10,625,000 Brown & Brown, Inc., 4.2%, 9/15/24 $ 11,146,209
----------------------------------------------------------------------------------------------------
Life & Health Insurance -- 0.8%
7,000,000 Aflac, Inc., 3.625%, 11/15/24 $ 7,330,428
800,000 AIG Global Funding, 7/2/20 (144A) (c) 800,944
2,425,000 Principal Life Global Funding II, 1.5%,
4/18/19 (144A) 2,402,632
4,250,000 Protective Life Corp., 7.375%, 10/15/19 4,732,060
1,090,000 Prudential Financial, Inc., 4.5%, 11/16/21 1,182,235
1,500,000 5.62 Prudential Financial, Inc., Floating Rate
Note, 6/15/43 1,648,125
8,043,000 5.88 Prudential Financial, Inc., Floating Rate
Note, 9/15/42 8,961,511
690,000 Teachers Insurance & Annuity Association of
America, 6.85%, 12/16/39 (144A) 944,820
3,950,000 Teachers Insurance & Annuity, 4.27%,
5/15/47 (144A) 4,043,651
4,120,000 Teachers Insurance & Annuity, 4.90%,
9/15/44 (144A) 4,611,442
--------------
$ 36,657,848
----------------------------------------------------------------------------------------------------
Multi-line Insurance -- 0.3%
5,985,000 AIG, 3.875%, 1/15/35 $ 5,802,230
2,335,000 AXA SA, 8.6%, 12/15/30 3,292,350
5,325,000 Liberty Mutual Insurance Co., 7.697%
(Perpetual) (144A) 7,507,957
--------------
$ 16,602,537
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 43
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Property & Casualty Insurance -- 0.2%
9,100,000 CNA Financial Corp., 4.5%, 3/1/26 $ 9,762,753
1,850,000 Delphi Financial Group, Inc., 7.875%, 1/31/20 2,077,050
--------------
$ 11,839,803
----------------------------------------------------------------------------------------------------
Reinsurance -- 3.0%
1,350,000 Ailsa 2017 Segregated Account (Artex SAC Ltd.),
6/15/18 (e)(f) $ 1,288,035
1,700,000 0.50 Alamo Re, Ltd., Floating Rate Note, 6/8/20 (Cat
Bond) (144A) 1,702,040
2,750,000 6.13 Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat
Bond) (144A) 2,788,225
500,000 3.36 Aozora Re, Ltd., Floating Rate Note, 4/7/23 (Cat
Bond) (144A) 507,500
900,000 Arlington Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 8/31/16 (e)(f) 43,740
750,000 Arlington Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 8/31/17 (e)(f) 97,875
2,000,000 Berwick Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 2/1/19 (e)(f) 2,060,400
500,000 4.34 Atlas IX Capital DAC, Floating Rate Note, 1/17/19
(Cat Bond) (144A) 508,300
2,000,000 Berwick 2016-1 Segregated Account (Artex SAC
Ltd.), Variable Rate Notes, 2/1/18 (e)(f) 95,000
800,000 Berwick Segregated Account (Artex SAC Ltd.),
Variable Rate Note, 1/22/16 (e)(f) 24,000
1,350,000 5.85 Caelus Re IV, Ltd., Floating Rate Note, 3/6/20 (Cat
Bond) (144A) 1,406,835
750,000 0.05 Caelus Re IV, Ltd., Floating Rate Note, 6/5/20 (Cat
Bond) (144A) 750,300
1,000,000 0.50 Caelus Re IV, Ltd., Floating Rate Note, 6/5/20 (Cat
Bond) (144A) 1,004,600
3,600,000 Carnoustie 2016-N,Segregated Account (Artex
SAC Ltd.), Variable Rate Notes, 11/30/20 (e)(f) 389,520
3,000,000 Carnoustie Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 2/19/16 (e)(f) 61,200
4,500,000 Carnoustie Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 11/30/21 (e)(f) 4,612,050
1,400,000 Casablanca Re, Variable Rate Notes, 6/4/20 (Cat
Bond) 1,401,120
3,366,000 Eden Re II, Ltd., Variable Rate Notes, 3/22/21 (e)(f) 3,476,741
1,590,000 Eden Re II, Ltd., Variable Rate Notes, 3/22/21
(144A) (e)(f) 1,641,834
3,060 Eden Re II, Ltd., Variable Rate Notes, 4/23/19
(144A) (e)(f) 67,038
2,176 Eden Re II, Variable Rate Notes, 4/23/19 (e)(f) 174,354
The accompanying notes are an integral part of these financial statements.
44 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
1,300,000 5.48 Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat
Bond) (144A) $ 1,293,110
1,300,000 6.34 Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat
Bond) (144A) 1,297,790
1,400,000 7.34 Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat
Bond) (144A) 1,404,060
1,500,000 5.51 Galilei Re, Ltd., Floating Rate Note, 1/8/21 (Cat
Bond) (144A) 1,500,750
1,200,000 6.26 Galilei Re, Ltd., Floating Rate Note, 1/8/21 (Cat
Bond) (144A) 1,201,320
1,500,000 7.26 Galilei Re, Ltd., Floating Rate Note, 1/8/21 (Cat
Bond) (144A) 1,514,850
3,500,000 Gleneagles Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 11/30/20 (e)(f) 410,200
2,800,000 2.52 Golden State Re II, Ltd., Floating Rate Note, 1/8/19
(Cat Bond) (144A) 2,785,720
1,800,000 Gulfstream Segregated Account, (Artex SAC Ltd.),
6/12/18 (e)(f) 1,694,520
5,100,000 Gullane Segregated Account (Artex SAC Ltd.),
Variable Rate Note 11/30/20 (e)(f) 111,180
5,100,000 Gullane Segregated Account (Artex SAC Ltd.),
Variable Rate Note 11/30/21 (e)(f) 5,370,810
1,700,000 0.00 International Bank For Reconstruction & Development,
Series A, Floating Rate Note, 6/15/20 (Cat Bond) 1,700,000
2,600,000 Kilimanjaro Re, Ltd., 7.166%, 4/20/21
(Cat Bond) (144A) 2,633,540
3,500,000 Kilimanjaro Re, Ltd., 8.62%, 4/20/21
(Cat Bond) (144A) 3,552,500
700,000 4.50 Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19
(Cat Bond) (144A) 711,550
3,000,000 7.25 Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19
(Cat Bond) (144A) 3,032,100
1,500,000 9.41 Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19
(Cat Bond) (144A) 1,496,700
350,000 5.25 Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18
(Cat Bond) (144A) 349,685
3,700,000 5.50 Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18
(Cat Bond) (144A) 3,687,790
2,800,000 Kingsbarns 2017 Segregated Account (Artex
SAC Ltd.), 5/15/18 (e)(f) 2,667,560
1,000,000 Lahinch Re, Variable Rate Notes, 5/10/21 (e)(f) 17,800
600,000 0.00 Limestone Re, Ltd., 8/31/21 (e)(f) 607,800
1,750,000 0.00 Limestone Re, Ltd., 8/31/21 (e)(f) 1,772,750
250,000 10.54 Loma Reinsurance Bermuda, Ltd., Floating Rate
Note, 1/8/18 (Cat Bond) (144A) 248,150
4,000,000 4.05 Long Point Re III, Ltd., Floating Rate Note, 5/23/18
(Cat Bond) (144A) 4,026,800
3,000,000 Lorenz Re 2017, Ltd., Variable Rate Notes,
3/31/20 (e)(f) 3,060,300
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 45
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
1,300,000 Lorenz Re, Ltd., Variable Rate Notes, 3/31/18 (e)(f) $ 7,540
4,050,000 Lorenz Re, Ltd., Variable Rate Notes, 3/31/19 (e)(f) 226,800
1,500,000 Madison Re, Variable Rate Notes,, 12/31/19 (e)(f) 1,528,650
2,000,000 Madison Re, Variable Rate Notes, 3/31/19 (e)(f) 127,000
1,000,000 Oakmont Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 4/13/18 (e)(f) 922,600
3,000,000 Pangaea Re Series, 11/30/21 (e)(f) 3,117,600
3,600,000 Pangaea Re, Series 2015-1, Principal at Risk
Notes, 2/1/19 (e)(f) 16,200
4,000,000 Pangaea Re, Series 2015-2, Principal at Risk
Notes, 11/30/19 (e)(f) 307,600
3,000,000 Pangaea Re, Series 2016-2, Principal at Risk
Notes, 11/30/20 (e)(f) 161,400
4,500,000 Pangaea Re., Variable Rate Notes, 2/1/20 (e)(f) 413,550
3,200,000 5.15 PennUnion Re, Ltd., Floating Rate Note, 12/7/18
(Cat Bond) (144A) 3,212,480
4,000,000 Artex Sac Ltd., Pinehurst Segregated Account
(Artex SAC Ltd.), Variable Rate Notes, 1/16/18 (e)(f) 3,884,800
1,000,000 Prestwick Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 7/1/16 (e)(f) 17,000
2,000,000 7.13 Queen Street XI Re Dac, Floating Rate Note, 6/7/19
(Cat Bond) (144A) 2,010,400
2,500,000 3.93 Residential Reinsurance 2016, Ltd., Floating Rate
Note, 12/6/23 (Cat Bond) (144A) 2,458,500
3,600,000 0.00 Resilience Re, Ltd., Floating Rate Note, 4/7/18
(e)(f) (144A) 3,300,840
3,600,000 0.00 Resilience Re, Ltd., Floating Rate Note, 4/7/17
(e)(f) 77,400
3,600,000 4.50 Resilience Re, Ltd., Floating Rate Note, 1/9/19
(e)(f) 3,600,000
2,200,000 3.30 Resilience Re, Ltd., Floating Rate Note, 1/9/19
(e)(f) 2,200,000
1,600,000 4.13 Sanders Re, Ltd., Floating Rate Note, 12/6/21
(Cat Bond) (144A) 1,600,320
2,550,000 3.75 Sanders Re, Ltd., Floating Rate Note, 5/25/18
(Cat Bond) (144A) 2,545,155
2,400,000 Sector Re V Ltd., Variable Rate Notes, 3/1/22
(144A) (e)(f) 2,422,800
1,399 Sector Re V, Ltd., Variable Rate Notes, 3/1/21
(144A) (e)(f) 70,357
1,100,000 Sector Re V, Ltd., Variable Rate Notes, 12/1/21
(144A) (e)(f) 1,155,440
3,874 Sector Re V, Ltd., Variable Rate Notes, 3/1/21 (e)(f) 297,753
5,213 Sector Re V, Ltd., Variable Rate Notes, 12/1/20
(144A) (e)(f) 38,672
2,000,000 Shenandoah 2017-1 Segregated Account (Artex
SAC Ltd.), Variable Rate Notes, 7/7/17 (e)(f) 2,000,000
The accompanying notes are an integral part of these financial statements.
46 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Reinsurance -- (continued)
2,000,000 Silverton Re, Ltd., Variable Rate Notes, 9/18/19
(144A) (e)(f) $ 2,149,800
1,000,000 Silverton Re, Ltd., Variable Rate Notes, 9/18/17
(144A) (e)(f) 2,000
1,700,000 Silverton Re, Ltd., Variable Rate Notes, 9/18/18
(144A) (e)(f) 82,960
1,000,000 3.03 Skyline Re, Ltd., Floating Rate Note, 1/6/20
(Cat Bond) 996,800
3,000,000 St. Andrews Segregated Account (Artex SAC, Ltd.),
Variable Rate Notes, 2/1/19 (e)(f) 3,157,800
1,520,000 St. Andrews 2017-4 Segregated Account (Artex
SAC Ltd.), 1/16/18 (e)(f) 1,435,184
1,737,984 St. Andrews 2017-4 Segregated Account (Artex
SAC Ltd.), 6/1/19 (e)(f) 1,747,195
1,300,000 St. Andrews Segregated Account (Artex SAC Ltd.),
Variable Rate Notes, 1/22/16 (e)(f) 25,610
2,000,000 St. Andrews Segregated Account (Artex SAC Ltd.),
Varianble Rate Notes, 2/1/18 (e)(f) 281,200
2,700,000 0.00 Ursa Re, Ltd., Floating Rate Note, 5/20/27 (Cat
Bond) (144A) 2,702,430
800,000 6.00 Ursa Re, Ltd., Floating Rate Note, 5/27/20 (Cat
Bond) (144A) 800,640
3,000,000 4.53 Ursa Re, Ltd., Floating Rate Note, 12/10/19 (Cat
Bond) (144A) 3,009,900
4,000,000 Versutus 2016 Class A, Variable Rate Notes,
11/30/21 (e)(f) 4,103,600
4,000,000 Versutus 2016, Class A-1, Variable Rate Notes,
11/30/20 (e)(f) 174,800
1,750,000 2.01 Vitality Re V, Ltd., Floating Rate Note, 1/7/19 (Cat
Bond) (144A) 1,745,100
2,900,000 2.47 Vitality Re VII, Ltd., Floating Rate Note, 1/7/20
(Cat Bond) (144A) 2,926,100
1,000,000 3.15 Vitality Re VII, Ltd., Floating Rate Note, 1/7/20
(Cat Bond) (144A) 1,017,100
--------------
$ 136,329,118
--------------
Total Insurance $ 212,575,515
----------------------------------------------------------------------------------------------------
REAL ESTATE -- 1.5%
Diversified REIT -- 0.6%
1,480,000 Essex Portfolio LP, 3.625%, 5/1/27 $ 1,476,350
2,175,000 Duke Realty LP, 3.625%, 4/15/23 2,227,133
8,560,000 Duke Realty LP, 3.75%, 12/1/24 8,791,171
9,500,000 Essex Portfolio LP, 3.5%, 4/1/25 9,497,862
3,985,000 Ventas Realty LP, 3.125%, 6/15/23 3,961,353
--------------
$ 25,953,869
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 47
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Office REIT -- 0.5%
2,681,000 Alexandria Real Estate Equities, Inc., 2.75%, 1/15/20 $ 2,699,408
2,768,000 Alexandria Real Estate Equities, Inc., 3.9%, 6/15/23 2,859,917
1,350,000 Alexandria Real Estate Equities, Inc., 3.95%, 1/15/27 1,374,967
3,415,000 Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22 3,649,341
2,032,000 Highwoods Realty LP, 3.2%, 6/15/21 2,052,558
3,390,000 Highwoods Realty LP, 3.625%, 1/15/23 3,427,395
7,325,000 Piedmont Operating Partnership LP, 3.4%, 6/1/23 7,142,659
--------------
$ 23,206,245
----------------------------------------------------------------------------------------------------
Health Care REIT -- 0.2%
4,675,000 Healthcare Trust Of America, 3.75%, 7/1/27 $ 4,621,032
6,805,000 Healthcare Trust of America Holdings LP, 3.5%, 8/1/26 6,654,433
--------------
$ 11,275,465
----------------------------------------------------------------------------------------------------
Residential REIT -- 0.2%
10,450,000 UDR, Inc., 4.0%, 10/1/25 $ 10,807,244
--------------
Total Real Estate $ 71,242,823
----------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.8%
IT Consulting & Other Services -- 0.1%
3,045,000 J2 Cloud LLC/Global Inc., 6.00%, 7/15/25 (144A) $ 3,136,350
----------------------------------------------------------------------------------------------------
Data Processing & Outsourced Services -- 0.1%
3,000,000 Cardtronics, Inc., 5.125%, 8/1/22 $ 3,045,000
4,550,000 Visa, Inc., 2.2%, 12/14/20 4,588,043
--------------
$ 7,633,043
----------------------------------------------------------------------------------------------------
Application Software -- 0.2%
8,560,000 Adobe Systems, Inc., 3.25%, 2/1/25 $ 8,749,125
----------------------------------------------------------------------------------------------------
Systems Software -- 0.4%
4,770,000 CA Inc., 3.60%, 8/15/22 $ 4,823,524
5,225,000 Microsoft Corp., 2.0%, 8/8/23 5,091,648
10,600,000 Oracle Corp., 2.5%, 5/15/22 10,700,594
--------------
$ 20,615,766
--------------
Total Software & Services $ 40,134,284
----------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.5%
Computer Hardware Storage & Peripherals -- 0.1%
4,600,000 NCR Corp., 4.625%, 2/15/21 $ 4,692,000
----------------------------------------------------------------------------------------------------
Electronic Components -- 0.3%
3,065,000 Amphenol Corp., 3.20%, 4/1/24 $ 3,096,229
8,412,000 Amphenol Corp., 3.125%, 9/15/21 8,607,579
--------------
$ 11,703,808
----------------------------------------------------------------------------------------------------
Electronic Manufacturing Services -- 0.1%
5,780,000 Flex, Ltd., 4.75%, 6/15/25 $ 6,139,412
--------------
Total Technology Hardware & Equipment $ 22,535,220
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
48 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 0.5%
Semiconductors -- 0.5%
10,545,000 Broadcom Corp., 3.625%, 1/15/24 (144A) $ 10,787,514
11,075,000 Intel Corp., 4.8%, 10/1/41 12,686,379
--------------
$ 23,473,893
--------------
Total Semiconductors & Semiconductor Equipment $ 23,473,893
----------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.8%
Integrated Telecommunication Services -- 0.6%
2,035,000 CenturyLink, Inc., 5.8%, 3/15/22 $ 2,116,400
14,575,000 Deutsche Telekom International Finance BV,
3.6%, 1/19/27 (144A) 14,829,013
4,300,000 Frontier Communications Corp., 7.125%, 1/15/23 3,579,750
4,800,000 GTP Acquisition Partners I LLC, 2.35%, 6/15/45 (144A) 4,745,808
2,750,000 Telefonica Emisiones SAU, 6.221%, 7/3/17 2,750,000
1,500,000 Unison Ground Lease Funding LLC, 2.981%,
3/16/43 (144A) 1,470,522
--------------
$ 29,491,493
----------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.2%
2,200,000 Crown Castle Towers LLC, 4.883%, 8/15/20 (144A) $ 2,347,662
1,625,000 Crown Castle Towers LLC, 6.113%, 1/15/20 (144A) 1,747,024
3,100,000 SBA Tower Trust, 2.877%, 7/15/21 (144A) 3,093,645
--------------
$ 7,188,331
--------------
Total Telecommunication Services $ 36,679,824
----------------------------------------------------------------------------------------------------
UTILITIES -- 3.1%
Electric Utilities -- 2.1%
980,000 Commonwealth Edison Co., 6.15%, 9/15/17 $ 988,874
5,000,000 Edp Finance BV, 3.625%, 7/15/24 (144A) 4,936,690
4,250,000 Electricite de France SA, 6.0%, 1/22/14 (144A) 4,677,146
2,150,000 5.25 Electricite de France SA, Floating Rate Note
(Perpetual) (144A) 2,205,900
2,800,000 Enel Finance International NV, 4.75%,
5/25/47 (144A) 2,881,085
3,365,000 Enel Finance International NV, 5.125%,
10/7/19 (144A) 3,580,407
2,320,000 8.13 Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,760,800
6,365,000 Exelon Corp., 2.85%, 6/15/20 6,466,394
416,827 FPL Energy American Wind LLC, 6.639%,
6/20/23 (144A) 427,247
4,655,000 Iberdrola International BV, 6.75%, 7/15/36 6,058,706
2,725,000 Indiana Michigan Power Co., 4.55%, 3/15/46 2,980,878
5,450,000 Israel Electric Corp, Ltd., 5.0%, 11/12/24 5,856,025
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 49
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Electric Utilities -- (continued)
1,925,000 Israel Electric Corp., Ltd., 7.25%, 1/15/19 (144A) $ 2,064,355
610,000 Israel Electric Corp., Ltd., 9.375%, 1/28/20 (144A) 713,670
910,000 Nevada Power Co., 6.5%, 8/1/18 956,525
6,536,000 NextEra Energy Capital Holdings, Inc., 2.3%, 4/1/19 6,566,000
10,270,000 Nextera Energy Capital, 3.55%, 5/1/27 10,433,129
337,003 OrCal Geothermal, Inc., 6.21%, 12/30/20 (144A) 331,948
11,910,000 PPL Capital Funding, Inc., 3.1%, 5/15/26 11,656,174
2,690,000 Public Service Co. of New Mexico, 7.95%, 5/15/18 2,830,604
4,428,571 Southern California Edison Co., 1.845%, 2/1/22 4,372,833
5,720,000 6.25 Southern California Edison Co., Floating Rate
Note (Perpetual) 6,334,900
10,800,000 Southwestern Electric Power Co., 3.9%, 4/1/45 10,592,813
--------------
$ 100,673,103
----------------------------------------------------------------------------------------------------
Gas Utilities -- 0.1%
2,215,000 AmeriGas Partners LP, 5.5%, 5/20/25 $ 2,259,300
2,125,000 DCP Midstream Operating LP, 5.6%, 4/1/44 2,002,812
2,043,789 Nakilat, Inc., 6.267%, 12/31/33 (144A) 2,319,700
--------------
$ 6,581,812
----------------------------------------------------------------------------------------------------
Multi-Utilities -- 0.6%
8,385,000 Consolidated Edison Co. of New York, Inc.,
4.625%, 12/1/54 $ 9,253,443
6,728,000 Dominion Energy Inc., 2.579 % 7/1/20 6,762,757
2,700,000 Dominion Resources, Inc. Virginia, 2.75%, 1/15/22 2,714,683
5,055,000 New York State Electric & Gas Corp., 6.15%,
12/15/17 (144A) 5,149,104
137,401 Ormat Funding Corp., 8.25%, 12/30/20 137,401
2,392,857 San Diego Gas & Electric Co., 1.914%, 2/1/22 2,366,727
--------------
$ 26,384,115
----------------------------------------------------------------------------------------------------
Independent Power Producers & Energy
Traders -- 0.3%
471,946 Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A) $ 534,787
2,850,000 Calpine Corp., 5.25%, 6/1/26 (144A) 2,793,000
3,005,000 Calpine Corp., 5.75%, 1/15/25 2,817,188
942,269 Kiowa Power Partners LLC, 5.737%, 3/30/21 (144A) 977,634
4,035,000 NRG Energy, Inc., 6.625%, 3/15/23 4,145,962
750,000 NRG Energy, Inc., 7.25%, 5/15/26 776,250
182,000 NRG Energy, Inc., 7.875%, 5/15/21 187,915
--------------
$ 12,232,736
--------------
Total Utilities $ 145,871,766
----------------------------------------------------------------------------------------------------
TOTAL CORPORATE BONDS
(Cost $1,549,794,313) $1,598,902,650
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
50 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- 33.8%
260,913 Fannie Mae, 2.5%, 1/1/43 $ 252,804
136,314 Fannie Mae, 2.5%, 1/1/46 131,529
284,091 Fannie Mae, 2.5%, 12/1/42 275,260
300,594 Fannie Mae, 2.5%, 12/1/42 291,253
242,249 Fannie Mae, 2.5%, 12/1/43 234,396
104,056 Fannie Mae, 2.5%, 2/1/43 100,826
120,292 Fannie Mae, 2.5%, 2/1/43 116,153
2,839,815 Fannie Mae, 2.5%, 2/1/43 2,751,543
382,080 Fannie Mae, 2.5%, 3/1/43 370,212
172,033 Fannie Mae, 2.5%, 3/1/44 166,696
127,876 Fannie Mae, 2.5%, 4/1/43 123,903
320,971 Fannie Mae, 2.5%, 4/1/45 309,697
513,181 Fannie Mae, 2.5%, 4/1/45 495,167
614,032 Fannie Mae, 2.5%, 4/1/45 592,465
684,234 Fannie Mae, 2.5%, 4/1/45 660,206
791,292 Fannie Mae, 2.5%, 4/1/45 763,507
1,338,030 Fannie Mae, 2.5%, 4/1/45 1,291,071
1,639,154 Fannie Mae, 2.5%, 4/1/45 1,581,607
75,146 Fannie Mae, 2.5%, 5/1/45 72,508
1,509,115 Fannie Mae, 2.5%, 7/1/30 1,522,358
1,515,874 Fannie Mae, 2.5%, 7/1/30 1,529,174
2,550,870 Fannie Mae, 2.5%, 7/1/30 2,573,237
91,143 Fannie Mae, 2.5%, 7/1/45 87,944
376,794 Fannie Mae, 2.5%, 8/1/43 365,085
285,845 Fannie Mae, 2.5%, 8/1/45 275,820
8,373,703 Fannie Mae, 3.0%, 1/1/47 8,409,000
3,417,961 Fannie Mae, 3.0%, 10/1/30 3,512,118
9,573,506 Fannie Mae, 3.0%, 10/1/46 9,567,345
9,669,071 Fannie Mae, 3.0%, 11/1/46 9,662,849
1,395,767 Fannie Mae, 3.0%, 12/1/42 1,403,846
2,708,430 Fannie Mae, 3.0%, 2/1/43 2,724,082
1,060,386 Fannie Mae, 3.0%, 3/1/45 1,062,991
2,840,374 Fannie Mae, 3.0%, 3/1/47 2,838,546
8,112,038 Fannie Mae, 3.0%, 5/1/30 8,331,606
7,536,326 Fannie Mae, 3.0%, 5/1/31 7,754,903
744,179 Fannie Mae, 3.0%, 5/1/43 748,470
10,366,423 Fannie Mae, 3.0%, 5/1/43 10,409,317
704,751 Fannie Mae, 3.0%, 5/1/46 707,697
1,031,348 Fannie Mae, 3.0%, 5/1/46 1,034,221
7,637,126 Fannie Mae, 3.0%, 6/1/45 7,665,934
2,339,244 Fannie Mae, 3.0%, 7/1/30 2,402,561
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 51
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
705,467 Fannie Mae, 3.0%, 7/1/43 $ 708,339
18,069,800 Fannie Mae, 3.0%, 8/1/42 18,146,251
1,722,133 Fannie Mae, 3.0%, 8/1/43 1,728,979
4,061,989 Fannie Mae, 3.0%, 9/1/28 4,183,674
4,694,431 Fannie Mae, 3.0%, 9/1/42 4,717,151
4,864,151 Fannie Mae, 3.0%, 9/1/43 4,883,517
5,106,866 Fannie Mae, 3.0%, 9/1/46 5,103,580
6,462,186 Fannie Mae, 3.5%, 1/1/46 6,641,183
8,101,967 Fannie Mae, 3.5%, 1/1/46 8,326,384
2,806,383 Fannie Mae, 3.5%, 1/1/47 2,884,117
5,180,677 Fannie Mae, 3.5%, 1/1/47 5,324,177
7,419,099 Fannie Mae, 3.5%, 1/1/47 7,663,594
12,040,659 Fannie Mae, 3.5%, 1/1/47 12,399,220
620,347 Fannie Mae, 3.5%, 10/1/41 641,712
1,745,511 Fannie Mae, 3.5%, 10/1/45 1,797,242
616,259 Fannie Mae, 3.5%, 10/1/46 634,583
1,109,834 Fannie Mae, 3.5%, 10/1/46 1,140,575
1,232,540 Fannie Mae, 3.5%, 11/1/40 1,273,303
264,870 Fannie Mae, 3.5%, 11/1/42 273,534
13,437,161 Fannie Mae, 3.5%, 11/1/45 13,936,915
1,227,265 Fannie Mae, 3.5%, 11/1/46 1,261,259
1,206,357 Fannie Mae, 3.5%, 12/1/26 1,255,958
578,857 Fannie Mae, 3.5%, 12/1/42 597,789
649,331 Fannie Mae, 3.5%, 12/1/42 670,563
2,691,321 Fannie Mae, 3.5%, 12/1/45 2,765,868
3,014,923 Fannie Mae, 3.5%, 12/1/45 3,098,433
5,374,849 Fannie Mae, 3.5%, 12/1/45 5,523,727
4,936,622 Fannie Mae, 3.5%, 12/1/46 5,073,362
2,253,236 Fannie Mae, 3.5%, 2/1/29 2,345,908
5,833,783 Fannie Mae, 3.5%, 2/1/44 5,996,604
6,309,983 Fannie Mae, 3.5%, 2/1/45 6,515,501
3,460,399 Fannie Mae, 3.5%, 2/1/46 3,556,249
5,726,954 Fannie Mae, 3.5%, 2/1/46 5,885,585
6,281,278 Fannie Mae, 3.5%, 2/1/47 6,455,264
2,256,129 Fannie Mae, 3.5%, 3/1/46 2,318,622
867,691 Fannie Mae, 3.5%, 4/1/26 903,367
1,900,604 Fannie Mae, 3.5%, 4/1/45 1,961,090
4,631,916 Fannie Mae, 3.5%, 4/1/46 4,760,216
2,848,162 Fannie Mae, 3.5%, 5/1/46 2,941,937
8,138,703 Fannie Mae, 3.5%, 5/1/47 8,364,137
8,696,820 Fannie Mae, 3.5%, 5/1/47 8,937,714
The accompanying notes are an integral part of these financial statements.
52 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,163,931 Fannie Mae, 3.5%, 6/1/28 $ 3,294,558
553,158 Fannie Mae, 3.5%, 6/1/42 571,309
7,349,578 Fannie Mae, 3.5%, 6/1/45 7,567,194
3,224,230 Fannie Mae, 3.5%, 7/1/42 3,325,519
12,305,836 Fannie Mae, 3.5%, 7/1/46 12,646,695
12,454,522 Fannie Mae, 3.5%, 7/1/47 12,849,564
3,408,942 Fannie Mae, 3.5%, 8/1/42 3,514,281
3,080,855 Fannie Mae, 3.5%, 8/1/45 3,166,191
8,966,472 Fannie Mae, 3.5%, 8/1/45 9,299,944
9,088,450 Fannie Mae, 3.5%, 8/1/46 9,340,191
496,366 Fannie Mae, 3.5%, 9/1/26 517,466
3,137,693 Fannie Mae, 3.5%, 9/1/44 3,224,604
6,701,936 Fannie Mae, 3.5%, 9/1/45 6,924,422
8,670,926 Fannie Mae, 3.5%, 9/1/45 8,911,102
9,536,663 Fannie Mae, 3.5%, 9/1/46 9,800,820
1,098,209 Fannie Mae, 3.763%, 12/1/20 1,153,851
419,665 Fannie Mae, 4.0%, 1/1/42 442,769
3,410,572 Fannie Mae, 4.0%, 1/1/42 3,598,600
132,178 Fannie Mae, 4.0%, 1/1/44 139,014
84,994 Fannie Mae, 4.0%, 1/1/45 89,390
226,798 Fannie Mae, 4.0%, 1/1/45 238,526
423,409 Fannie Mae, 4.0%, 1/1/45 445,305
2,818,646 Fannie Mae, 4.0%, 1/1/46 2,964,411
14,392,445 Fannie Mae, 4.0%, 1/1/47 15,141,421
7,481,179 Fannie Mae, 4.0%, 10/1/40 7,997,417
1,720,714 Fannie Mae, 4.0%, 10/1/41 1,818,605
1,681,796 Fannie Mae, 4.0%, 10/1/42 1,774,680
12,067,072 Fannie Mae, 4.0%, 10/1/43 12,770,761
1,869,042 Fannie Mae, 4.0%, 10/1/44 1,965,698
3,489,631 Fannie Mae, 4.0%, 10/1/45 3,670,096
5,379,456 Fannie Mae, 4.0%, 10/1/45 5,657,652
3,842,191 Fannie Mae, 4.0%, 11/1/43 4,079,094
108,331 Fannie Mae, 4.0%, 11/1/44 113,934
147,850 Fannie Mae, 4.0%, 11/1/44 155,496
282,649 Fannie Mae, 4.0%, 11/1/44 297,266
6,091,719 Fannie Mae, 4.0%, 11/1/44 6,406,749
111,509 Fannie Mae, 4.0%, 11/1/45 117,276
4,405,152 Fannie Mae, 4.0%, 11/1/45 4,632,962
9,569,389 Fannie Mae, 4.0%, 11/1/45 10,157,125
1,664,243 Fannie Mae, 4.0%, 11/1/46 1,750,308
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 53
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
1,359,418 Fannie Mae, 4.0%, 12/1/40 $ 1,453,343
1,292,146 Fannie Mae, 4.0%, 12/1/41 1,363,467
4,586,776 Fannie Mae, 4.0%, 12/1/43 4,867,260
58,073 Fannie Mae, 4.0%, 12/1/44 61,076
520,110 Fannie Mae, 4.0%, 12/1/44 547,007
6,926,618 Fannie Mae, 4.0%, 12/1/45 7,284,825
2,740,965 Fannie Mae, 4.0%, 2/1/42 2,891,542
6,999,789 Fannie Mae, 4.0%, 2/1/42 7,385,454
6,319,720 Fannie Mae, 4.0%, 2/1/44 6,646,541
52,279 Fannie Mae, 4.0%, 2/1/45 54,982
225,964 Fannie Mae, 4.0%, 2/1/45 237,682
471,236 Fannie Mae, 4.0%, 2/1/45 495,605
7,238,644 Fannie Mae, 4.0%, 2/1/46 7,617,493
618,068 Fannie Mae, 4.0%, 2/1/47 654,569
1,297,221 Fannie Mae, 4.0%, 3/1/42 1,373,323
5,474,769 Fannie Mae, 4.0%, 3/1/45 5,757,894
340,460 Fannie Mae, 4.0%, 4/1/25 358,393
2,991,809 Fannie Mae, 4.0%, 4/1/39 3,162,563
818,626 Fannie Mae, 4.0%, 4/1/41 869,191
1,205,408 Fannie Mae, 4.0%, 4/1/41 1,271,812
290,521 Fannie Mae, 4.0%, 4/1/42 305,837
698,202 Fannie Mae, 4.0%, 4/1/42 736,637
2,954,744 Fannie Mae, 4.0%, 4/1/42 3,117,686
1,846,708 Fannie Mae, 4.0%, 4/1/46 1,942,209
3,497,528 Fannie Mae, 4.0%, 4/1/47 3,696,322
3,564,225 Fannie Mae, 4.0%, 4/1/47 3,748,547
5,555,892 Fannie Mae, 4.0%, 4/1/47 5,871,685
973,875 Fannie Mae, 4.0%, 5/1/41 1,027,543
171,244 Fannie Mae, 4.0%, 6/1/42 180,701
429,686 Fannie Mae, 4.0%, 6/1/42 452,018
95,400 Fannie Mae, 4.0%, 6/1/44 100,333
139,174 Fannie Mae, 4.0%, 6/1/44 146,372
6,796,370 Fannie Mae, 4.0%, 6/1/46 7,147,841
586,377 Fannie Mae, 4.0%, 6/1/47 619,706
2,175,000 Fannie Mae, 4.0%, 6/1/47 2,298,626
3,482,151 Fannie Mae, 4.0%, 6/1/47 3,662,229
5,375,000 Fannie Mae, 4.0%, 6/1/47 5,652,965
9,552,088 Fannie Mae, 4.0%, 6/1/47 10,046,069
5,301 Fannie Mae, 4.0%, 7/1/18 5,487
167,021 Fannie Mae, 4.0%, 7/1/42 175,837
3,936,262 Fannie Mae, 4.0%, 7/1/42 4,177,994
The accompanying notes are an integral part of these financial statements.
54 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
362,121 Fannie Mae, 4.0%, 7/1/44 $ 380,848
6,072,618 Fannie Mae, 4.0%, 7/1/44 6,386,660
6,964,491 Fannie Mae, 4.0%, 7/1/46 7,324,656
9,671,151 Fannie Mae, 4.0%, 7/1/46 10,171,289
8,813,752 Fannie Mae, 4.0%, 8/1/42 9,299,559
5,411,887 Fannie Mae, 4.0%, 8/1/43 5,692,566
270,894 Fannie Mae, 4.0%, 8/1/44 284,903
271,535 Fannie Mae, 4.0%, 8/1/44 285,577
1,575,062 Fannie Mae, 4.0%, 8/1/44 1,656,515
4,769,774 Fannie Mae, 4.0%, 8/1/44 5,016,441
3,648,580 Fannie Mae, 4.0%, 8/1/45 3,863,064
5,600,196 Fannie Mae, 4.0%, 8/1/46 5,889,808
6,928,947 Fannie Mae, 4.0%, 8/1/46 7,287,274
7,122,101 Fannie Mae, 4.0%, 8/1/46 7,490,417
31,235 Fannie Mae, 4.0%, 9/1/20 32,335
6,472,164 Fannie Mae, 4.0%, 9/1/43 6,813,305
46,193 Fannie Mae, 4.0%, 9/1/44 48,582
418,011 Fannie Mae, 4.0%, 9/1/44 439,628
478,412 Fannie Mae, 4.0%, 9/1/44 503,153
7,823,770 Fannie Mae, 4.0%, 9/1/44 8,284,856
4,383,623 Fannie Mae, 4.5%, 1/1/42 4,741,556
5,808,863 Fannie Mae, 4.5%, 1/1/42 6,283,964
6,170,449 Fannie Mae, 4.5%, 1/1/44 6,628,360
718,287 Fannie Mae, 4.5%, 1/1/47 771,655
220,428 Fannie Mae, 4.5%, 10/1/35 237,260
13,008 Fannie Mae, 4.5%, 11/1/20 13,329
181,501 Fannie Mae, 4.5%, 11/1/20 187,442
1,924,307 Fannie Mae, 4.5%, 11/1/40 2,081,742
647,917 Fannie Mae, 4.5%, 11/1/43 695,551
193,532 Fannie Mae, 4.5%, 12/1/40 209,487
3,659,575 Fannie Mae, 4.5%, 12/1/43 3,981,138
5,787,190 Fannie Mae, 4.5%, 12/1/43 6,210,310
8,400,947 Fannie Mae, 4.5%, 12/1/43 9,026,975
725,547 Fannie Mae, 4.5%, 2/1/41 784,854
3,461,758 Fannie Mae, 4.5%, 2/1/44 3,720,351
4,135,192 Fannie Mae, 4.5%, 2/1/44 4,440,713
571,896 Fannie Mae, 4.5%, 2/1/47 613,565
4,111,857 Fannie Mae, 4.5%, 2/1/47 4,412,325
1,740,975 Fannie Mae, 4.5%, 4/1/41 1,883,120
92,938 Fannie Mae, 4.5%, 5/1/41 100,558
2,380,115 Fannie Mae, 4.5%, 5/1/41 2,572,670
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 55
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,121,666 Fannie Mae, 4.5%, 5/1/41 $ 3,376,560
3,775,722 Fannie Mae, 4.5%, 5/1/41 4,101,273
7,186,700 Fannie Mae, 4.5%, 5/1/46 7,710,909
1,077,123 Fannie Mae, 4.5%, 7/1/41 1,159,057
1,320,444 Fannie Mae, 4.5%, 7/1/41 1,429,523
1,467,536 Fannie Mae, 4.5%, 7/1/41 1,583,843
532,906 Fannie Mae, 4.5%, 8/1/40 576,419
946,480 Fannie Mae, 4.5%, 8/1/40 1,023,818
42,833 Fannie Mae, 5.0%, 1/1/20 44,028
101,101 Fannie Mae, 5.0%, 1/1/20 103,531
161,285 Fannie Mae, 5.0%, 10/1/20 166,838
214,880 Fannie Mae, 5.0%, 10/1/34 231,495
16,955 Fannie Mae, 5.0%, 2/1/20 17,363
9,409 Fannie Mae, 5.0%, 2/1/22 9,910
135,721 Fannie Mae, 5.0%, 2/1/22 141,372
829,934 Fannie Mae, 5.0%, 2/1/39 910,937
3,165,815 Fannie Mae, 5.0%, 2/1/41 3,462,693
12,303,930 Fannie Mae, 5.0%, 2/1/45 13,466,618
70,803 Fannie Mae, 5.0%, 3/1/23 74,671
298,075 Fannie Mae, 5.0%, 5/1/23 315,438
625,865 Fannie Mae, 5.0%, 6/1/40 685,258
696,893 Fannie Mae, 5.0%, 6/1/40 762,419
155,216 Fannie Mae, 5.0%, 7/1/34 166,299
486,626 Fannie Mae, 5.0%, 7/1/40 532,092
709,645 Fannie Mae, 5.0%, 7/1/40 776,261
1,010,873 Fannie Mae, 5.0%, 7/1/40 1,105,899
19,115 Fannie Mae, 5.0%, 8/1/18 19,575
10,319 Fannie Mae, 5.5%, 12/1/17 10,342
329,102 Fannie Mae, 5.5%, 3/1/36 368,176
159,188 Fannie Mae, 5.5%, 5/1/36 177,795
18,737 Fannie Mae, 5.5%, 6/1/33 20,810
176,743 Fannie Mae, 5.5%, 6/1/36 197,778
90,727 Fannie Mae, 5.5%, 7/1/33 101,555
580,628 Fannie Mae, 5.5%, 7/1/34 650,206
116,844 Fannie Mae, 5.5%, 9/1/19 119,477
53,874 Fannie Mae, 5.72%, 11/1/28 55,444
35,344 Fannie Mae, 5.72%, 6/1/29 35,625
25,970 Fannie Mae, 5.9%, 11/1/27 26,087
79,554 Fannie Mae, 5.9%, 4/1/28 82,950
3,605 Fannie Mae, 6.0%, 1/1/32 4,093
49,813 Fannie Mae, 6.0%, 10/1/32 56,713
The accompanying notes are an integral part of these financial statements.
56 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
12,746 Fannie Mae, 6.0%, 10/1/34 $ 14,525
86,016 Fannie Mae, 6.0%, 10/1/35 96,710
28,218 Fannie Mae, 6.0%, 11/1/33 32,198
10,883 Fannie Mae, 6.0%, 11/1/34 12,434
246,072 Fannie Mae, 6.0%, 11/1/34 280,485
197,233 Fannie Mae, 6.0%, 12/1/35 225,137
26,448 Fannie Mae, 6.0%, 12/1/37 30,004
16,481 Fannie Mae, 6.0%, 2/1/32 18,749
8,202 Fannie Mae, 6.0%, 2/1/33 9,221
4,068 Fannie Mae, 6.0%, 2/1/35 4,642
9,574 Fannie Mae, 6.0%, 2/1/35 10,933
5,631 Fannie Mae, 6.0%, 3/1/32 6,389
72,529 Fannie Mae, 6.0%, 3/1/33 82,614
69,305 Fannie Mae, 6.0%, 4/1/33 77,948
175,315 Fannie Mae, 6.0%, 4/1/35 200,245
28,251 Fannie Mae, 6.0%, 5/1/35 31,899
320,208 Fannie Mae, 6.0%, 6/1/38 363,653
152,582 Fannie Mae, 6.0%, 7/1/33 172,236
270,212 Fannie Mae, 6.0%, 7/1/33 304,039
42,540 Fannie Mae, 6.0%, 7/1/38 47,897
3,665 Fannie Mae, 6.0%, 8/1/32 4,168
124,307 Fannie Mae, 6.0%, 8/1/34 142,141
924 Fannie Mae, 6.0%, 9/1/29 1,049
438 Fannie Mae, 6.0%, 9/1/32 498
7,342 Fannie Mae, 6.0%, 9/1/34 8,314
27,110 Fannie Mae, 6.0%, 9/1/34 30,918
42,679 Fannie Mae, 6.0%, 9/1/34 48,701
92,008 Fannie Mae, 6.0%, 9/1/34 103,747
2,303 Fannie Mae, 6.5%, 1/1/31 2,547
3,504 Fannie Mae, 6.5%, 10/1/31 3,876
70,123 Fannie Mae, 6.5%, 10/1/32 77,559
119,412 Fannie Mae, 6.5%, 11/1/37 135,010
34,816 Fannie Mae, 6.5%, 11/1/47 37,433
125,862 Fannie Mae, 6.5%, 12/1/31 139,209
4,645 Fannie Mae, 6.5%, 2/1/32 5,137
58,178 Fannie Mae, 6.5%, 3/1/32 64,606
1,982 Fannie Mae, 6.5%, 4/1/31 2,193
4,872 Fannie Mae, 6.5%, 5/1/31 5,389
69,294 Fannie Mae, 6.5%, 6/1/31 76,642
6,816 Fannie Mae, 6.5%, 7/1/29 7,538
101,639 Fannie Mae, 6.5%, 7/1/32 114,510
28,753 Fannie Mae, 6.5%, 7/1/34 31,802
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 57
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
8,636 Fannie Mae, 6.5%, 8/1/31 $ 9,552
3,850 Fannie Mae, 6.5%, 9/1/31 4,258
6,999 Fannie Mae, 6.5%, 9/1/31 7,852
17,254 Fannie Mae, 7.0%, 1/1/32 20,063
680 Fannie Mae, 7.0%, 12/1/30 717
6,847 Fannie Mae, 7.0%, 12/1/30 7,633
24,169 Fannie Mae, 7.0%, 12/1/31 25,603
7,621 Fannie Mae, 7.0%, 4/1/31 8,959
9,066 Fannie Mae, 7.0%, 9/1/31 10,543
349,864 Federal Home Loan Mortgage Corp., 2.5%, 1/1/30 352,601
218,758 Federal Home Loan Mortgage Corp., 2.5%, 4/1/30 220,453
3,159,039 Federal Home Loan Mortgage Corp., 3.0%, 10/1/29 3,246,614
1,371,413 Federal Home Loan Mortgage Corp., 3.0%, 11/1/30 1,409,442
7,367,230 Federal Home Loan Mortgage Corp., 3.0%, 11/1/42 7,392,736
1,355,518 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 1,357,678
2,241,810 Federal Home Loan Mortgage Corp., 3.0%, 12/1/46 2,238,414
815,088 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 819,088
2,067,421 Federal Home Loan Mortgage Corp., 3.0%, 2/1/43 2,077,565
6,124,637 Federal Home Loan Mortgage Corp., 3.0%, 2/1/47 6,115,359
836,054 Federal Home Loan Mortgage Corp., 3.0%, 3/1/47 834,788
2,540,025 Federal Home Loan Mortgage Corp., 3.0%, 5/1/43 2,548,170
1,827,070 Federal Home Loan Mortgage Corp., 3.0%, 5/1/45 1,829,553
5,394,657 Federal Home Loan Mortgage Corp., 3.0%, 6/1/46 5,403,255
3,194,441 Federal Home Loan Mortgage Corp., 3.0%, 8/1/29 3,285,907
1,381,873 Federal Home Loan Mortgage Corp., 3.0%, 8/1/45 1,379,779
1,075,266 Federal Home Loan Mortgage Corp., 3.0%, 9/1/42 1,078,935
4,263,919 Federal Home Loan Mortgage Corp., 3.0%, 9/1/46 4,257,459
2,453,124 Federal Home Loan Mortgage Corp., 3.5%, 1/1/47 2,522,130
2,671,735 Federal Home Loan Mortgage Corp., 3.5%, 10/1/44 2,749,499
7,235,547 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 7,479,428
8,202,943 Federal Home Loan Mortgage Corp., 3.5%, 10/1/45 8,433,692
1,715,725 Federal Home Loan Mortgage Corp., 3.5%, 11/1/28 1,796,927
127,536 Federal Home Loan Mortgage Corp., 3.5%, 11/1/44 131,124
8,509,351 Federal Home Loan Mortgage Corp., 3.5%, 11/1/45 8,761,481
7,127,324 Federal Home Loan Mortgage Corp., 3.5%, 12/1/44 7,327,816
4,000,288 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 4,112,817
12,007,720 Federal Home Loan Mortgage Corp., 3.5%, 12/1/46 12,412,019
306,280 Federal Home Loan Mortgage Corp., 3.5%, 3/1/26 319,196
3,484,864 Federal Home Loan Mortgage Corp., 3.5%, 3/1/45 3,582,893
4,281,608 Federal Home Loan Mortgage Corp., 3.5%, 3/1/46 4,402,050
1,775,545 Federal Home Loan Mortgage Corp., 3.5%, 4/1/42 1,832,095
The accompanying notes are an integral part of these financial statements.
58 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
864,433 Federal Home Loan Mortgage Corp., 3.5%, 4/1/45 $ 888,749
7,191,564 Federal Home Loan Mortgage Corp., 3.5%, 5/1/46 7,393,863
8,402,975 Federal Home Loan Mortgage Corp., 3.5%, 6/1/45 8,688,259
727,886 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 751,028
1,975,000 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 2,030,557
4,200,000 Federal Home Loan Mortgage Corp., 3.5%, 6/1/47 4,318,146
7,694,881 Federal Home Loan Mortgage Corp., 3.5%, 7/1/44 7,926,560
228,998 Federal Home Loan Mortgage Corp., 3.5%, 7/1/45 236,810
7,251,562 Federal Home Loan Mortgage Corp., 3.5%, 7/1/46 7,508,481
9,815,000 Federal Home Loan Mortgage Corp., 3.5%, 7/1/47 10,124,786
3,067,479 Federal Home Loan Mortgage Corp., 3.5%, 8/1/43 3,164,941
878,216 Federal Home Loan Mortgage Corp., 3.5%, 8/1/44 904,364
10,257,034 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 10,602,371
10,795,901 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 11,137,192
12,584,034 Federal Home Loan Mortgage Corp., 3.5%, 8/1/46 12,984,336
657,227 Federal Home Loan Mortgage Corp., 3.5%, 9/1/44 679,508
1,857,294 Federal Home Loan Mortgage Corp., 4.0%, 1/1/44 1,955,585
1,933,047 Federal Home Loan Mortgage Corp., 4.0%, 1/1/46 2,034,547
5,427,267 Federal Home Loan Mortgage Corp., 4.0%, 10/1/42 5,730,201
165,723 Federal Home Loan Mortgage Corp., 4.0%, 10/1/46 174,425
10,729,896 Federal Home Loan Mortgage Corp., 4.0%, 11/1/41 11,483,447
115,750 Federal Home Loan Mortgage Corp., 4.0%, 11/1/42 122,234
1,642,366 Federal Home Loan Mortgage Corp., 4.0%, 12/1/44 1,728,602
6,007,850 Federal Home Loan Mortgage Corp., 4.0%, 12/1/45 6,323,307
589,326 Federal Home Loan Mortgage Corp., 4.0%, 2/1/44 623,955
1,309,947 Federal Home Loan Mortgage Corp., 4.0%, 3/1/47 1,378,730
1,584,916 Federal Home Loan Mortgage Corp., 4.0%, 4/1/45 1,668,136
2,376,460 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 2,513,318
3,779,331 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 3,996,977
7,566,864 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 7,964,182
7,784,800 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 8,233,097
12,228,704 Federal Home Loan Mortgage Corp., 4.0%, 4/1/47 12,870,804
5,480,286 Federal Home Loan Mortgage Corp., 4.0%, 5/1/44 5,768,043
283,339 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 298,216
603,073 Federal Home Loan Mortgage Corp., 4.0%, 5/1/46 634,739
13,365,110 Federal Home Loan Mortgage Corp., 4.0%, 5/1/47 14,066,879
330,189 Federal Home Loan Mortgage Corp., 4.0%, 6/1/42 347,846
5,063,175 Federal Home Loan Mortgage Corp., 4.0%, 6/1/44 5,329,030
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 59
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
4,869,359 Federal Home Loan Mortgage Corp., 4.0%, 6/1/46 $ 5,125,038
1,658,619 Federal Home Loan Mortgage Corp., 4.0%, 6/1/47 1,745,709
131,220 Federal Home Loan Mortgage Corp., 4.0%, 7/1/42 138,571
1,133,869 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,200,412
1,561,306 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,653,041
1,857,140 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 1,966,260
7,346,372 Federal Home Loan Mortgage Corp., 4.0%, 7/1/44 7,732,113
6,492,831 Federal Home Loan Mortgage Corp., 4.0%, 7/1/46 6,833,754
6,470,878 Federal Home Loan Mortgage Corp., 4.0%, 8/1/46 6,810,648
2,955,393 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 3,110,574
7,496,615 Federal Home Loan Mortgage Corp., 4.0%, 9/1/44 7,937,113
166,790 Federal Home Loan Mortgage Corp., 4.5%, 10/1/20 172,403
3,121,124 Federal Home Loan Mortgage Corp., 4.5%, 11/1/40 3,356,403
190,086 Federal Home Loan Mortgage Corp., 4.5%, 11/1/43 203,583
73,136 Federal Home Loan Mortgage Corp., 4.5%, 3/1/20 75,024
1,858,021 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 1,997,576
4,233,382 Federal Home Loan Mortgage Corp., 4.5%, 3/1/42 4,547,287
8,134,812 Federal Home Loan Mortgage Corp., 4.5%, 5/1/47 8,730,344
428,908 Federal Home Loan Mortgage Corp., 5.0%, 10/1/20 443,280
329,506 Federal Home Loan Mortgage Corp., 5.0%, 10/1/38 360,880
11,805 Federal Home Loan Mortgage Corp., 5.0%, 11/1/34 12,932
13,693 Federal Home Loan Mortgage Corp., 5.0%, 12/1/21 14,252
164,197 Federal Home Loan Mortgage Corp., 5.0%, 6/1/35 178,239
339,442 Federal Home Loan Mortgage Corp., 5.0%, 9/1/38 371,797
10,249 Federal Home Loan Mortgage Corp., 5.5%, 1/1/34 11,452
10,438 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 11,500
101,836 Federal Home Loan Mortgage Corp., 5.5%, 11/1/34 114,156
25,018 Federal Home Loan Mortgage Corp., 5.5%, 11/1/35 27,720
66,870 Federal Home Loan Mortgage Corp., 5.5%, 12/1/18 67,828
1,163,244 Federal Home Loan Mortgage Corp., 5.5%, 6/1/41 1,297,147
94,376 Federal Home Loan Mortgage Corp., 5.5%, 8/1/35 104,399
208,856 Federal Home Loan Mortgage Corp., 5.5%, 9/1/33 233,535
46,838 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 52,630
80,649 Federal Home Loan Mortgage Corp., 6.0%, 1/1/33 90,955
29,092 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 33,008
35,576 Federal Home Loan Mortgage Corp., 6.0%, 1/1/34 39,975
71,735 Federal Home Loan Mortgage Corp., 6.0%, 1/1/38 80,658
15,988 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 18,184
33,711 Federal Home Loan Mortgage Corp., 6.0%, 11/1/33 38,188
8,897 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 9,997
The accompanying notes are an integral part of these financial statements.
60 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
114,016 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 $ 128,116
119,751 Federal Home Loan Mortgage Corp., 6.0%, 12/1/33 134,560
36,098 Federal Home Loan Mortgage Corp., 6.0%, 12/1/36 40,888
4,603 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 5,236
48,782 Federal Home Loan Mortgage Corp., 6.0%, 2/1/33 55,579
36,304 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 40,793
148,384 Federal Home Loan Mortgage Corp., 6.0%, 3/1/33 168,826
33,580 Federal Home Loan Mortgage Corp., 6.0%, 4/1/35 37,733
159,319 Federal Home Loan Mortgage Corp., 6.0%, 4/1/36 179,624
141,863 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 160,006
431,700 Federal Home Loan Mortgage Corp., 6.0%, 5/1/34 489,806
84,566 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 95,023
107,945 Federal Home Loan Mortgage Corp., 6.0%, 6/1/35 121,294
12,523 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 14,203
33,839 Federal Home Loan Mortgage Corp., 6.0%, 7/1/36 38,024
98,435 Federal Home Loan Mortgage Corp., 6.0%, 7/1/38 111,344
3,440 Federal Home Loan Mortgage Corp., 6.0%, 8/1/18 3,866
93,671 Federal Home Loan Mortgage Corp., 6.0%, 8/1/34 106,008
104,020 Federal Home Loan Mortgage Corp., 6.0%, 9/1/33 118,019
157 Federal Home Loan Mortgage Corp., 6.5%, 1/1/31 174
244 Federal Home Loan Mortgage Corp., 6.5%, 1/1/33 270
38,129 Federal Home Loan Mortgage Corp., 6.5%, 10/1/33 44,503
328 Federal Home Loan Mortgage Corp., 6.5%, 11/1/30 362
3,385 Federal Home Loan Mortgage Corp., 6.5%, 2/1/33 3,764
476 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 526
5,193 Federal Home Loan Mortgage Corp., 6.5%, 3/1/31 5,740
5,166 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 5,719
7,210 Federal Home Loan Mortgage Corp., 6.5%, 5/1/31 8,014
186 Federal Home Loan Mortgage Corp., 6.5%, 6/1/32 206
10,155 Federal Home Loan Mortgage Corp., 6.5%, 7/1/32 11,469
679 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 758
3,979 Federal Home Loan Mortgage Corp., 6.5%, 8/1/31 4,398
74,169 Federal Home Loan Mortgage Corp., 7.0%, 10/1/46 80,366
2,612 Federal Home Loan Mortgage Corp., 7.0%, 11/1/30 3,021
3,048 Federal Home Loan Mortgage Corp., 7.0%, 6/1/31 3,056
11,245 Federal Home Loan Mortgage Corp., 7.0%, 8/1/22 11,274
83,984 Federal Home Loan Mortgage Corp., 7.0%, 9/1/22 89,065
235,895 Federal National Mortgage Association, 2.5%, 4/1/45 227,614
463,314 Federal National Mortgage Association, 3.0%, 12/1/21 475,854
1,456,996 Federal National Mortgage Association, 3.0%, 4/1/31 1,496,433
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 61
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
7,340,028 Federal National Mortgage Association,
3.5%, 7/1/46 $ 7,543,340
6,035,503 Federal National Mortgage Association,
4.0%, 10/1/45 6,347,626
303,838 Federal National Mortgage Association,
4.0%, 11/1/34 322,393
799,581 Federal National Mortgage Association,
5.0%, 8/1/40 874,538
814,908 Government National Mortgage Association I,
3.5%, 1/15/44 847,576
12,233,927 Government National Mortgage Association I,
3.5%, 1/15/45 12,682,330
1,598,913 Government National Mortgage Association I,
3.5%, 10/15/42 1,661,498
9,792,676 Government National Mortgage Association I,
3.5%, 11/15/41 10,174,573
8,061,807 Government National Mortgage Association I,
3.5%, 7/15/42 8,372,461
3,082,658 Government National Mortgage Association I,
3.5%, 8/15/46 3,197,891
22,647 Government National Mortgage Association I,
4.0%, 1/15/41 23,867
79,692 Government National Mortgage Association I,
4.0%, 1/15/41 83,986
500,531 Government National Mortgage Association I,
4.0%, 1/15/45 529,740
1,368,812 Government National Mortgage Association I,
4.0%, 1/15/45 1,440,974
1,638,072 Government National Mortgage Association I,
4.0%, 1/15/45 1,724,428
2,598,645 Government National Mortgage Association I,
4.0%, 1/15/45 2,735,641
7,135 Government National Mortgage Association I,
4.0%, 10/15/40 7,530
5,568 Government National Mortgage Association I,
4.0%, 10/15/41 5,861
6,975 Government National Mortgage Association I,
4.0%, 10/15/41 7,349
141,132 Government National Mortgage Association I,
4.0%, 10/15/44 148,572
11,758 Government National Mortgage Association I,
4.0%, 11/15/40 12,381
37,244 Government National Mortgage Association I,
4.0%, 11/15/40 39,256
3,534 Government National Mortgage Association I,
4.0%, 11/15/41 3,721
The accompanying notes are an integral part of these financial statements.
62 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
5,395 Government National Mortgage Association I,
4.0%, 11/15/41 $ 5,685
25,865 Government National Mortgage Association I,
4.0%, 11/15/43 27,314
563,371 Government National Mortgage Association I,
4.0%, 11/15/44 593,071
7,036 Government National Mortgage Association I,
4.0%, 12/15/41 7,429
2,306,652 Government National Mortgage Association I,
4.0%, 12/15/44 2,428,254
9,903 Government National Mortgage Association I,
4.0%, 2/15/41 10,457
26,194 Government National Mortgage Association I,
4.0%, 2/15/42 27,574
215,782 Government National Mortgage Association I,
4.0%, 2/15/42 227,158
1,302,232 Government National Mortgage Association I,
4.0%, 2/15/45 1,370,883
1,939,363 Government National Mortgage Association I,
4.0%, 2/15/45 2,041,603
14,127 Government National Mortgage Association I,
4.0%, 3/15/44 14,872
297,270 Government National Mortgage Association I,
4.0%, 3/15/44 312,941
1,090,208 Government National Mortgage Association I,
4.0%, 3/15/44 1,147,682
4,480,580 Government National Mortgage Association I,
4.0%, 3/15/44 4,716,788
161,155 Government National Mortgage Association I,
4.0%, 3/15/45 169,651
2,496,894 Government National Mortgage Association I,
4.0%, 3/15/45 2,628,526
9,554 Government National Mortgage Association I,
4.0%, 4/15/44 10,058
29,494 Government National Mortgage Association I,
4.0%, 4/15/44 31,049
3,055,419 Government National Mortgage Association I,
4.0%, 4/15/44 3,216,495
4,169,750 Government National Mortgage Association I,
4.0%, 4/15/45 4,390,739
7,772 Government National Mortgage Association I,
4.0%, 5/15/39 8,182
2,002,050 Government National Mortgage Association I,
4.0%, 5/15/45 2,107,594
4,653 Government National Mortgage Association I,
4.0%, 6/15/39 4,898
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 63
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
54,035 Government National Mortgage Association I,
4.0%, 6/15/41 $ 56,883
6,057,878 Government National Mortgage Association I,
4.0%, 6/15/45 6,377,238
161,950 Government National Mortgage Association I,
4.0%, 7/15/41 170,952
813,985 Government National Mortgage Association I,
4.0%, 7/15/45 857,224
7,868 Government National Mortgage Association I,
4.0%, 8/15/40 8,305
283,165 Government National Mortgage Association I,
4.0%, 8/15/40 298,995
1,321,172 Government National Mortgage Association I,
4.0%, 8/15/43 1,394,378
431,133 Government National Mortgage Association I,
4.0%, 8/15/44 453,862
709,466 Government National Mortgage Association I,
4.0%, 8/15/45 749,979
7,230 Government National Mortgage Association I,
4.0%, 9/15/40 7,635
97,899 Government National Mortgage Association I,
4.0%, 9/15/40 103,071
2,592 Government National Mortgage Association I,
4.0%, 9/15/41 2,729
452,357 Government National Mortgage Association I,
4.0%, 9/15/41 476,837
71,165 Government National Mortgage Association I,
4.0%, 9/15/44 74,917
301,780 Government National Mortgage Association I,
4.0%, 9/15/44 317,689
353,063 Government National Mortgage Association I,
4.0%, 9/15/44 371,675
707,229 Government National Mortgage Association I,
4.0%, 9/15/44 744,513
3,016,367 Government National Mortgage Association I,
4.0%, 9/15/44 3,175,384
399,034 Government National Mortgage Association I,
4.5%, 1/15/40 435,662
157,645 Government National Mortgage Association I,
4.5%, 10/15/33 169,059
178,070 Government National Mortgage Association I,
4.5%, 10/15/33 192,937
112,501 Government National Mortgage Association I,
4.5%, 10/15/35 120,952
1,077,725 Government National Mortgage Association I,
4.5%, 10/15/40 1,161,706
The accompanying notes are an integral part of these financial statements.
64 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
11,649 Government National Mortgage Association I,
4.5%, 12/15/19 $ 12,013
889,482 Government National Mortgage Association I,
4.5%, 12/15/39 956,791
34,380 Government National Mortgage Association I,
4.5%, 2/15/34 37,156
16,104 Government National Mortgage Association I,
4.5%, 3/15/35 17,262
57,868 Government National Mortgage Association I,
4.5%, 3/15/35 62,028
4,216 Government National Mortgage Association I,
4.5%, 4/15/18 4,284
13,905 Government National Mortgage Association I,
4.5%, 4/15/20 14,354
20,862 Government National Mortgage Association I,
4.5%, 4/15/35 22,362
198,855 Government National Mortgage Association I,
4.5%, 4/15/35 215,371
60,338 Government National Mortgage Association I,
4.5%, 4/15/38 64,675
556,915 Government National Mortgage Association I,
4.5%, 4/15/41 600,582
1,017,792 Government National Mortgage Association I,
4.5%, 5/15/41 1,103,178
15,423 Government National Mortgage Association I,
4.5%, 6/15/19 15,724
212,977 Government National Mortgage Association I,
4.5%, 6/15/25 224,623
928,628 Government National Mortgage Association I,
4.5%, 6/15/41 1,006,254
62,036 Government National Mortgage Association I,
4.5%, 7/15/33 66,549
350,753 Government National Mortgage Association I,
4.5%, 7/15/41 380,254
4,875 Government National Mortgage Association I,
4.5%, 8/15/19 5,002
973,538 Government National Mortgage Association I,
4.5%, 8/15/41 1,055,037
185,495 Government National Mortgage Association I,
4.5%, 9/15/33 202,317
14,026 Government National Mortgage Association I,
4.5%, 9/15/35 15,034
244,633 Government National Mortgage Association I,
4.5%, 9/15/40 266,521
31,251 Government National Mortgage Association I,
5.0%, 10/15/18 31,753
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 65
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
20,347 Government National Mortgage Association I,
5.0%, 2/15/19 $ 20,761
87,178 Government National Mortgage Association I,
5.0%, 4/15/34 95,792
417,690 Government National Mortgage Association I,
5.0%, 4/15/35 465,366
446 Government National Mortgage Association I,
5.0%, 7/15/19 469
34,391 Government National Mortgage Association I,
5.0%, 7/15/19 35,251
71,873 Government National Mortgage Association I,
5.0%, 7/15/33 79,234
206,750 Government National Mortgage Association I,
5.0%, 7/15/40 226,927
71,656 Government National Mortgage Association I,
5.0%, 9/15/33 79,486
50,166 Government National Mortgage Association I,
5.5%, 1/15/29 55,804
126,072 Government National Mortgage Association I,
5.5%, 1/15/35 141,948
1,960 Government National Mortgage Association I,
5.5%, 10/15/17 1,963
5,341 Government National Mortgage Association I,
5.5%, 10/15/17 5,351
22,814 Government National Mortgage Association I,
5.5%, 10/15/19 23,294
61,598 Government National Mortgage Association I,
5.5%, 10/15/33 69,332
64,551 Government National Mortgage Association I,
5.5%, 10/15/33 72,638
35,663 Government National Mortgage Association I,
5.5%, 10/15/34 39,704
71,689 Government National Mortgage Association I,
5.5%, 10/15/35 79,789
170,365 Government National Mortgage Association I,
5.5%, 10/15/35 191,864
13,624 Government National Mortgage Association I,
5.5%, 11/15/18 13,807
133,929 Government National Mortgage Association I,
5.5%, 11/15/19 136,992
379,037 Government National Mortgage Association I,
5.5%, 11/15/34 426,589
7,318 Government National Mortgage Association I,
5.5%, 12/15/18 7,416
15,955 Government National Mortgage Association I,
5.5%, 2/15/18 16,000
The accompanying notes are an integral part of these financial statements.
66 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
17,686 Government National Mortgage Association I,
5.5%, 2/15/18 $ 17,785
30,788 Government National Mortgage Association I,
5.5%, 2/15/35 34,646
38,376 Government National Mortgage Association I,
5.5%, 2/15/35 42,689
38,868 Government National Mortgage Association I,
5.5%, 2/15/37 43,598
848 Government National Mortgage Association I,
5.5%, 4/15/19 863
7,639 Government National Mortgage Association I,
5.5%, 4/15/19 7,679
5,597 Government National Mortgage Association I,
5.5%, 6/15/18 5,619
12,340 Government National Mortgage Association I,
5.5%, 6/15/33 13,883
65,022 Government National Mortgage Association I,
5.5%, 6/15/35 72,330
66,414 Government National Mortgage Association I,
5.5%, 7/15/33 74,823
71,858 Government National Mortgage Association I,
5.5%, 7/15/33 80,885
333,142 Government National Mortgage Association I,
5.5%, 7/15/34 375,295
434,448 Government National Mortgage Association I,
5.5%, 7/15/35 502,459
49,712 Government National Mortgage Association I,
5.5%, 8/15/19 50,609
62,911 Government National Mortgage Association I,
5.5%, 8/15/19 64,214
19,092 Government National Mortgage Association I,
5.5%, 8/15/33 21,411
30,833 Government National Mortgage Association I,
5.5%, 8/15/33 34,705
151,311 Government National Mortgage Association I,
5.5%, 8/15/33 169,614
72,440 Government National Mortgage Association I,
5.5%, 9/15/19 73,954
57,300 Government National Mortgage Association I,
5.5%, 9/15/33 64,051
96,864 Government National Mortgage Association I,
5.5%, 9/15/33 108,573
14,607 Government National Mortgage Association I,
5.72%, 4/15/29 16,301
5,181 Government National Mortgage Association I,
6.0%, 1/15/19 5,210
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 67
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
12,817 Government National Mortgage Association I,
6.0%, 1/15/24 $ 14,449
34,783 Government National Mortgage Association I,
6.0%, 1/15/33 39,212
34,365 Government National Mortgage Association I,
6.0%, 1/15/33 39,340
155,638 Government National Mortgage Association I,
6.0%, 1/15/33 179,079
7,050 Government National Mortgage Association I,
6.0%, 10/15/28 7,975
11,092 Government National Mortgage Association I,
6.0%, 10/15/32 12,505
34,459 Government National Mortgage Association I,
6.0%, 10/15/32 38,847
39,992 Government National Mortgage Association I,
6.0%, 10/15/32 46,078
39,669 Government National Mortgage Association I,
6.0%, 10/15/33 45,141
63,735 Government National Mortgage Association I,
6.0%, 10/15/34 71,908
81,500 Government National Mortgage Association I,
6.0%, 10/15/34 92,724
166,486 Government National Mortgage Association I,
6.0%, 10/15/34 187,682
123,864 Government National Mortgage Association I,
6.0%, 10/15/36 140,777
25,217 Government National Mortgage Association I,
6.0%, 11/15/31 28,495
6,512 Government National Mortgage Association I,
6.0%, 11/15/32 7,341
7,114 Government National Mortgage Association I,
6.0%, 11/15/32 8,020
97,575 Government National Mortgage Association I,
6.0%, 11/15/33 109,998
104,740 Government National Mortgage Association I,
6.0%, 11/15/34 119,240
38,052 Government National Mortgage Association I,
6.0%, 11/15/37 42,897
125,472 Government National Mortgage Association I,
6.0%, 12/15/23 131,595
11,006 Government National Mortgage Association I,
6.0%, 12/15/32 12,408
13,308 Government National Mortgage Association I,
6.0%, 12/15/32 15,095
77,024 Government National Mortgage Association I,
6.0%, 12/15/32 86,910
The accompanying notes are an integral part of these financial statements.
68 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
138,418 Government National Mortgage Association I,
6.0%, 12/15/32 $ 156,041
196,540 Government National Mortgage Association I,
6.0%, 12/15/32 221,562
215,985 Government National Mortgage Association I,
6.0%, 12/15/32 243,564
388,910 Government National Mortgage Association I,
6.0%, 12/15/32 443,108
62,010 Government National Mortgage Association I,
6.0%, 2/15/29 71,247
86,505 Government National Mortgage Association I,
6.0%, 2/15/29 98,272
21,935 Government National Mortgage Association I,
6.0%, 2/15/33 24,728
32,024 Government National Mortgage Association I,
6.0%, 2/15/33 36,475
69,751 Government National Mortgage Association I,
6.0%, 2/15/33 78,635
83,031 Government National Mortgage Association I,
6.0%, 2/15/33 95,928
125,182 Government National Mortgage Association I,
6.0%, 2/15/33 141,826
18,836 Government National Mortgage Association I,
6.0%, 3/15/19 18,982
1,602 Government National Mortgage Association I,
6.0%, 3/15/32 1,819
42,976 Government National Mortgage Association I,
6.0%, 3/15/33 48,897
53,128 Government National Mortgage Association I,
6.0%, 3/15/33 59,918
93,623 Government National Mortgage Association I,
6.0%, 3/15/33 106,658
94,887 Government National Mortgage Association I,
6.0%, 3/15/33 106,968
107,474 Government National Mortgage Association I,
6.0%, 3/15/33 122,359
134,659 Government National Mortgage Association I,
6.0%, 3/15/33 152,946
234,438 Government National Mortgage Association I,
6.0%, 3/15/33 266,810
381,562 Government National Mortgage Association I,
6.0%, 3/15/33 449,946
178,712 Government National Mortgage Association I,
6.0%, 3/15/34 210,390
40,818 Government National Mortgage Association I,
6.0%, 4/15/28 46,451
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 69
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
16,887 Government National Mortgage Association I,
6.0%, 4/15/33 $ 19,037
31,316 Government National Mortgage Association I,
6.0%, 4/15/33 35,316
44,211 Government National Mortgage Association I,
6.0%, 4/15/33 50,189
18,399 Government National Mortgage Association I,
6.0%, 5/15/33 20,741
148,703 Government National Mortgage Association I,
6.0%, 5/15/33 172,443
106,869 Government National Mortgage Association I,
6.0%, 6/15/31 120,511
10,683 Government National Mortgage Association I,
6.0%, 6/15/33 12,170
61,511 Government National Mortgage Association I,
6.0%, 6/15/34 70,017
6,465 Government National Mortgage Association I,
6.0%, 8/15/32 7,359
35,462 Government National Mortgage Association I,
6.0%, 8/15/34 40,302
45,477 Government National Mortgage Association I,
6.0%, 8/15/34 51,267
225,181 Government National Mortgage Association I,
6.0%, 8/15/36 255,955
48,834 Government National Mortgage Association I,
6.0%, 8/15/38 55,051
27,208 Government National Mortgage Association I,
6.0%, 9/15/19 27,391
176,920 Government National Mortgage Association I,
6.0%, 9/15/28 200,403
58,915 Government National Mortgage Association I,
6.0%, 9/15/32 67,143
91,071 Government National Mortgage Association I,
6.0%, 9/15/32 102,665
182,913 Government National Mortgage Association I,
6.0%, 9/15/32 206,200
14,965 Government National Mortgage Association I,
6.0%, 9/15/33 16,901
15,823 Government National Mortgage Association I,
6.0%, 9/15/33 17,837
51,539 Government National Mortgage Association I,
6.0%, 9/15/33 58,571
26,403 Government National Mortgage Association I,
6.0%, 9/15/34 30,090
38,034 Government National Mortgage Association I,
6.0%, 9/15/34 42,876
The accompanying notes are an integral part of these financial statements.
70 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
142,558 Government National Mortgage Association I,
6.0%, 9/15/34 $ 162,191
764,608 Government National Mortgage Association I,
6.0%, 9/15/35 876,139
22,932 Government National Mortgage Association I,
6.5%, 1/15/29 25,059
19,176 Government National Mortgage Association I,
6.5%, 1/15/32 20,955
82,468 Government National Mortgage Association I,
6.5%, 1/15/32 93,857
3,288 Government National Mortgage Association I,
6.5%, 1/15/33 3,799
342,263 Government National Mortgage Association I,
6.5%, 1/15/33 403,403
489 Government National Mortgage Association I,
6.5%, 1/15/35 519
21,984 Government National Mortgage Association I,
6.5%, 10/15/24 24,439
3,932 Government National Mortgage Association I,
6.5%, 10/15/28 4,306
16,018 Government National Mortgage Association I,
6.5%, 10/15/28 17,633
6,100 Government National Mortgage Association I,
6.5%, 10/15/31 6,674
20,001 Government National Mortgage Association I,
6.5%, 10/15/31 21,856
81,427 Government National Mortgage Association I,
6.5%, 10/15/31 89,970
73,792 Government National Mortgage Association I,
6.5%, 10/15/32 80,638
1,642 Government National Mortgage Association I,
6.5%, 10/15/33 1,794
3,987 Government National Mortgage Association I,
6.5%, 11/15/31 4,357
43,422 Government National Mortgage Association I,
6.5%, 11/15/31 47,450
52,859 Government National Mortgage Association I,
6.5%, 11/15/32 61,836
323,237 Government National Mortgage Association I,
6.5%, 12/15/32 380,491
7,259 Government National Mortgage Association I,
6.5%, 2/15/28 7,932
1,073 Government National Mortgage Association I,
6.5%, 2/15/29 1,172
6,027 Government National Mortgage Association I,
6.5%, 2/15/29 6,586
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 71
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
18,525 Government National Mortgage Association I,
6.5%, 2/15/29 $ 20,732
8,267 Government National Mortgage Association I,
6.5%, 2/15/32 9,073
14,591 Government National Mortgage Association I,
6.5%, 2/15/32 16,513
18,585 Government National Mortgage Association I,
6.5%, 2/15/32 21,894
28,947 Government National Mortgage Association I,
6.5%, 2/15/32 31,632
39,012 Government National Mortgage Association I,
6.5%, 2/15/32 45,899
6,972 Government National Mortgage Association I,
6.5%, 2/15/34 7,618
7,902 Government National Mortgage Association I,
6.5%, 3/15/29 8,635
12,863 Government National Mortgage Association I,
6.5%, 3/15/29 14,056
56,649 Government National Mortgage Association I,
6.5%, 3/15/29 62,521
79,034 Government National Mortgage Association I,
6.5%, 3/15/29 86,365
5,032 Government National Mortgage Association I,
6.5%, 3/15/31 5,499
15,523 Government National Mortgage Association I,
6.5%, 3/15/32 16,993
80,970 Government National Mortgage Association I,
6.5%, 3/15/32 90,320
7,977 Government National Mortgage Association I,
6.5%, 4/15/28 8,717
36,447 Government National Mortgage Association I,
6.5%, 4/15/28 39,828
63,030 Government National Mortgage Association I,
6.5%, 4/15/31 73,870
6,741 Government National Mortgage Association I,
6.5%, 4/15/32 7,366
9,276 Government National Mortgage Association I,
6.5%, 4/15/32 10,216
12,372 Government National Mortgage Association I,
6.5%, 4/15/32 13,864
68,214 Government National Mortgage Association I,
6.5%, 4/15/32 80,061
5,999 Government National Mortgage Association I,
6.5%, 4/15/33 6,555
40,056 Government National Mortgage Association I,
6.5%, 4/15/35 43,772
The accompanying notes are an integral part of these financial statements.
72 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
3,196 Government National Mortgage Association I,
6.5%, 5/15/29 $ 3,510
4,530 Government National Mortgage Association I,
6.5%, 5/15/29 4,950
60,315 Government National Mortgage Association I,
6.5%, 5/15/29 69,730
15,355 Government National Mortgage Association I,
6.5%, 5/15/31 17,790
16,834 Government National Mortgage Association I,
6.5%, 5/15/31 19,729
38,323 Government National Mortgage Association I,
6.5%, 5/15/31 41,920
4,543 Government National Mortgage Association I,
6.5%, 5/15/32 5,020
5,623 Government National Mortgage Association I,
6.5%, 5/15/32 6,144
11,276 Government National Mortgage Association I,
6.5%, 5/15/32 12,573
14,385 Government National Mortgage Association I,
6.5%, 5/15/32 16,923
30,812 Government National Mortgage Association I,
6.5%, 5/15/33 33,850
8,505 Government National Mortgage Association I,
6.5%, 6/15/28 9,799
25,085 Government National Mortgage Association I,
6.5%, 6/15/29 27,412
6,234 Government National Mortgage Association I,
6.5%, 6/15/31 6,840
10,138 Government National Mortgage Association I,
6.5%, 6/15/32 11,079
11,701 Government National Mortgage Association I,
6.5%, 6/15/32 13,042
13,267 Government National Mortgage Association I,
6.5%, 6/15/32 14,589
110,426 Government National Mortgage Association I,
6.5%, 6/15/34 121,517
6,444 Government National Mortgage Association I,
6.5%, 6/15/35 7,042
18,418 Government National Mortgage Association I,
6.5%, 7/15/31 20,127
8,772 Government National Mortgage Association I,
6.5%, 7/15/32 9,586
9,992 Government National Mortgage Association I,
6.5%, 7/15/32 10,953
10,823 Government National Mortgage Association I,
6.5%, 7/15/32 11,827
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 73
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
125,801 Government National Mortgage Association I,
6.5%, 7/15/32 $ 148,589
18,073 Government National Mortgage Association I,
6.5%, 7/15/35 19,749
63,826 Government National Mortgage Association I,
6.5%, 7/15/35 69,747
6,784 Government National Mortgage Association I,
6.5%, 8/15/28 7,532
49,579 Government National Mortgage Association I,
6.5%, 8/15/31 54,850
3,768 Government National Mortgage Association I,
6.5%, 8/15/32 4,159
38,163 Government National Mortgage Association I,
6.5%, 8/15/32 45,014
44,603 Government National Mortgage Association I,
6.5%, 8/15/32 49,046
18,180 Government National Mortgage Association I,
6.5%, 9/15/31 19,966
18,482 Government National Mortgage Association I,
6.5%, 9/15/32 21,213
39,104 Government National Mortgage Association I,
6.5%, 9/15/32 43,580
42,024 Government National Mortgage Association I,
6.5%, 9/15/32 46,786
3,986 Government National Mortgage Association I,
6.5%, 9/15/34 4,356
4,806 Government National Mortgage Association I,
6.75%, 4/15/26 5,252
17,459 Government National Mortgage Association I,
7.0%, 1/15/28 19,131
42,773 Government National Mortgage Association I,
7.0%, 1/15/31 43,405
6,781 Government National Mortgage Association I,
7.0%, 10/15/31 6,977
8,564 Government National Mortgage Association I,
7.0%, 11/15/26 9,829
14,965 Government National Mortgage Association I,
7.0%, 11/15/28 17,524
44,065 Government National Mortgage Association I,
7.0%, 11/15/28 50,508
55,286 Government National Mortgage Association I,
7.0%, 11/15/29 61,004
8,136 Government National Mortgage Association I,
7.0%, 11/15/31 8,524
3,379 Government National Mortgage Association I,
7.0%, 12/15/30 3,529
The accompanying notes are an integral part of these financial statements.
74 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
10,064 Government National Mortgage Association I,
7.0%, 12/15/30 $ 11,032
38,371 Government National Mortgage Association I,
7.0%, 12/15/30 39,080
35,014 Government National Mortgage Association I,
7.0%, 12/15/30 41,263
17,181 Government National Mortgage Association I,
7.0%, 2/15/28 18,579
12,749 Government National Mortgage Association I,
7.0%, 3/15/28 13,109
10,305 Government National Mortgage Association I,
7.0%, 3/15/31 10,845
52,386 Government National Mortgage Association I,
7.0%, 3/15/32 57,747
12,121 Government National Mortgage Association I,
7.0%, 4/15/28 13,117
22,461 Government National Mortgage Association I,
7.0%, 4/15/29 23,193
25,819 Government National Mortgage Association I,
7.0%, 4/15/29 28,087
44,965 Government National Mortgage Association I,
7.0%, 4/15/32 49,907
36,809 Government National Mortgage Association I,
7.0%, 5/15/29 38,493
8,114 Government National Mortgage Association I,
7.0%, 5/15/31 8,527
80,598 Government National Mortgage Association I,
7.0%, 5/15/32 97,073
19,386 Government National Mortgage Association I,
7.0%, 6/15/27 22,293
4,214 Government National Mortgage Association I,
7.0%, 6/15/29 4,225
26,884 Government National Mortgage Association I,
7.0%, 6/15/31 31,988
23,356 Government National Mortgage Association I,
7.0%, 7/15/25 25,831
5,402 Government National Mortgage Association I,
7.0%, 7/15/28 5,416
15,801 Government National Mortgage Association I,
7.0%, 7/15/28 17,620
10,855 Government National Mortgage Association I,
7.0%, 7/15/29 12,220
3,138 Government National Mortgage Association I,
7.0%, 7/15/31 3,723
18,931 Government National Mortgage Association I,
7.0%, 8/15/23 20,213
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 75
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
1,311 Government National Mortgage Association I,
7.0%, 8/15/28 $ 1,484
144,853 Government National Mortgage Association I,
7.0%, 8/15/31 173,384
55,403 Government National Mortgage Association I,
7.0%, 9/15/24 61,717
12,476 Government National Mortgage Association I,
7.0%, 9/15/31 13,177
34,093 Government National Mortgage Association I,
7.0%, 9/15/31 37,568
29,730 Government National Mortgage Association I,
7.5%, 10/15/23 32,203
45,319 Government National Mortgage Association I,
7.5%, 10/15/27 50,754
5,880 Government National Mortgage Association I,
7.5%, 10/15/29 6,127
12,345 Government National Mortgage Association I,
7.5%, 10/15/29 13,753
3,919 Government National Mortgage Association I,
7.5%, 12/15/25 4,041
43,720 Government National Mortgage Association I,
7.5%, 12/15/31 45,862
1,643 Government National Mortgage Association I,
7.5%, 2/15/26 1,703
14,356 Government National Mortgage Association I,
7.5%, 2/15/27 15,781
14,296 Government National Mortgage Association I,
7.5%, 2/15/31 14,486
15,795 Government National Mortgage Association I,
7.5%, 2/15/31 16,320
7,655 Government National Mortgage Association I,
7.5%, 3/15/23 8,161
32,579 Government National Mortgage Association I,
7.5%, 3/15/27 38,312
7,281 Government National Mortgage Association I,
7.5%, 3/15/31 7,517
1,459 Government National Mortgage Association I,
7.5%, 6/15/24 1,500
15,839 Government National Mortgage Association I,
7.5%, 6/15/29 17,631
9,773 Government National Mortgage Association I,
7.5%, 8/15/25 9,975
876 Government National Mortgage Association I,
7.5%, 8/15/29 879
2,745 Government National Mortgage Association I,
7.5%, 8/15/29 2,800
The accompanying notes are an integral part of these financial statements.
76 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
16,995 Government National Mortgage Association I,
7.5%, 8/15/29 $ 17,827
1,140 Government National Mortgage Association I,
7.5%, 9/15/25 1,142
4,714 Government National Mortgage Association I,
7.5%, 9/15/25 5,156
18,430 Government National Mortgage Association I,
7.5%, 9/15/29 18,486
2,206 Government National Mortgage Association I,
7.75%, 2/15/30 2,245
13,331 Government National Mortgage Association I,
8.25%, 5/15/20 13,866
1,553 Government National Mortgage Association I,
8.5%, 8/15/21 1,559
4,234 Government National Mortgage Association I,
9.0%, 1/15/20 4,285
717 Government National Mortgage Association I,
9.0%, 12/15/19 748
1,791 Government National Mortgage Association I,
9.0%, 6/15/22 1,838
189 Government National Mortgage Association I,
9.0%, 9/15/21 193
4,217,343 Government National Mortgage Association II,
3.0%, 8/20/46 4,264,312
13,337,677 Government National Mortgage Association II,
3.0%, 9/20/46 13,486,220
6,678,355 Government National Mortgage Association II,
3.5%, 1/20/46 6,924,598
10,239,698 Government National Mortgage Association II,
3.5%, 1/20/47 10,617,254
10,089,872 Government National Mortgage Association II,
3.5%, 11/20/46 10,461,905
835,663 Government National Mortgage Association II,
3.5%, 3/20/45 866,819
1,741,424 Government National Mortgage Association II,
3.5%, 3/20/46 1,812,923
517,556 Government National Mortgage Association II,
3.5%, 4/20/45 537,521
1,034,088 Government National Mortgage Association II,
3.5%, 4/20/45 1,072,031
1,421,396 Government National Mortgage Association II,
3.5%, 4/20/45 1,475,960
4,231,357 Government National Mortgage Association II,
3.5%, 8/20/45 4,387,375
2,111,233 Government National Mortgage Association II,
4.0%, 10/20/44 2,223,385
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 77
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
8,719,483 Government National Mortgage Association II,
4.0%, 10/20/46 $ 9,182,675
8,988,503 Government National Mortgage Association II,
4.0%, 7/20/44 9,465,986
242,826 Government National Mortgage Association II,
4.0%, 9/20/44 255,725
278,898 Government National Mortgage Association II,
4.5%, 1/20/35 298,757
9,758,407 Government National Mortgage Association II,
4.5%, 1/20/47 10,376,756
2,140,918 Government National Mortgage Association II,
4.5%, 10/20/44 2,276,579
4,513,776 Government National Mortgage Association II,
4.5%, 11/20/44 4,799,795
82,089 Government National Mortgage Association II,
4.5%, 12/20/34 87,872
9,977,502 Government National Mortgage Association II,
4.5%, 2/20/47 10,612,775
46,714 Government National Mortgage Association II,
4.5%, 3/20/35 50,053
9,851,851 Government National Mortgage Association II,
4.5%, 4/20/47 10,484,503
1,377,876 Government National Mortgage Association II,
4.5%, 9/20/41 1,480,683
15,964 Government National Mortgage Association II,
5.0%, 1/20/20 16,495
33,795 Government National Mortgage Association II,
5.0%, 12/20/18 34,327
17,575 Government National Mortgage Association II,
5.0%, 2/20/19 17,875
120,591 Government National Mortgage Association II,
5.5%, 10/20/19 123,046
130,807 Government National Mortgage Association II,
5.5%, 10/20/37 143,160
190,402 Government National Mortgage Association II,
5.5%, 3/20/34 217,777
168,141 Government National Mortgage Association II,
5.5%, 4/20/34 188,269
145,990 Government National Mortgage Association II,
5.75%, 6/20/33 160,761
26,024 Government National Mortgage Association II,
5.9%, 1/20/28 28,824
39,539 Government National Mortgage Association II,
5.9%, 11/20/27 43,794
77,288 Government National Mortgage Association II,
5.9%, 7/20/28 84,993
The accompanying notes are an integral part of these financial statements.
78 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
87,082 Government National Mortgage Association II,
6.0%, 1/20/33 $ 101,114
18,749 Government National Mortgage Association II,
6.0%, 10/20/31 21,274
95,583 Government National Mortgage Association II,
6.0%, 10/20/33 108,374
14,648 Government National Mortgage Association II,
6.0%, 12/20/18 14,727
55,159 Government National Mortgage Association II,
6.0%, 6/20/34 62,663
7,957 Government National Mortgage Association II,
6.0%, 7/20/19 8,005
84,350 Government National Mortgage Association II,
6.45%, 1/20/33 92,368
44,196 Government National Mortgage Association II,
6.45%, 11/20/32 48,386
47,933 Government National Mortgage Association II,
6.45%, 7/20/32 52,481
22,782 Government National Mortgage Association II,
6.5%, 1/20/24 24,414
43,264 Government National Mortgage Association II,
6.5%, 10/20/32 50,844
1,997 Government National Mortgage Association II,
6.5%, 2/20/29 2,312
762 Government National Mortgage Association II,
6.5%, 3/20/29 883
58,318 Government National Mortgage Association II,
6.5%, 3/20/34 68,518
24,443 Government National Mortgage Association II,
6.5%, 4/20/29 28,321
12,717 Government National Mortgage Association II,
6.5%, 4/20/31 14,955
9,238 Government National Mortgage Association II,
6.5%, 6/20/31 10,851
40,871 Government National Mortgage Association II,
6.5%, 8/20/28 47,206
65,968 Government National Mortgage Association II,
7.0%, 1/20/29 77,064
9,702 Government National Mortgage Association II,
7.0%, 1/20/31 11,389
64,171 Government National Mortgage Association II,
7.0%, 11/20/28 75,164
9,918 Government National Mortgage Association II,
7.0%, 11/20/31 11,805
1,873 Government National Mortgage Association II,
7.0%, 12/20/30 2,238
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 79
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS -- (continued)
6,548 Government National Mortgage Association II,
7.0%, 2/20/29 $ 7,657
4,836 Government National Mortgage Association II,
7.0%, 3/20/31 5,782
8,287 Government National Mortgage Association II,
7.0%, 5/20/26 9,409
19,871 Government National Mortgage Association II,
7.0%, 6/20/28 23,256
25,024 Government National Mortgage Association II,
7.0%, 7/20/31 29,841
19,462 Government National Mortgage Association II,
7.0%, 8/20/27 22,653
6,074 Government National Mortgage Association II,
7.5%, 12/20/30 7,247
10,849 Government National Mortgage Association II,
7.5%, 5/20/30 13,173
3,013 Government National Mortgage Association II,
7.5%, 6/20/30 3,535
8,099 Government National Mortgage Association II,
7.5%, 7/20/30 9,740
11,901 Government National Mortgage Association II,
7.5%, 8/20/30 14,450
34 Government National Mortgage Association II,
8.0%, 5/20/25 37
2,351 Government National Mortgage Association II,
9.0%, 11/20/24 2,360
2,211 Government National Mortgage Association II,
9.0%, 3/20/22 2,219
309 Government National Mortgage Association II,
9.0%, 4/20/22 310
395 Government National Mortgage Association II,
9.0%, 9/20/21 396
13,141 Government National Mortgage Association,
6.5%, 3/15/29 14,360
813,343 Tennessee Valley Authority, 4.929%, 1/15/21 868,391
30,000,000 U.S. Treasury Bill, 7/16/17 (c) 29,998,110
50,000,000 U.S. Treasury Bill, 9/28/17 (c) 49,877,950
63,487,776 U.S. Treasury Inflation Indexed Bonds,
0.75%, 2/15/45 59,540,170
72,471,498 U.S. Treasury Inflation Indexed Bonds,
1.0%, 2/15/46 72,406,491
5,200,000 U.S. Treasury Notes, 1.875%, 8/31/17 5,207,483
--------------
$1,596,339,263
----------------------------------------------------------------------------------------------------
TOTAL U.S. GOVERNMENT AND
AGENCY OBLIGATIONS
(Cost $1,604,829,119) $1,596,339,263
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
80 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
FOREIGN GOVERNMENT BONDS -- 0.2%
4,550,000 Africa Finance Corp., 4.375%, 4/29/20 (144A) $ 4,687,410
5,880,000 Kuwait International Bond, 3.50%, 3/20/27 (144A) 6,007,008
--------------
$ 10,694,418
----------------------------------------------------------------------------------------------------
TOTAL FOREIGN GOVERNMENT BONDS
(Cost $10,347,818) $ 10,694,418
----------------------------------------------------------------------------------------------------
MUNICIPAL BONDS -- 1.6% (g)
Municipal Development -- 0.2%
4,500,000 New Jersey Economic Development Authority,
2/15/18 (c) $ 4,446,675
----------------------------------------------------------------------------------------------------
Municipal Education -- 0.0%+
525,000 Amherst College, 3.794%, 11/1/42 $ 523,145
----------------------------------------------------------------------------------------------------
Municipal General -- 0.2%
4,075,000 JobsOhio Beverage System, 3.985%, 1/1/29 $ 4,349,370
1,035,000 JobsOhio Beverage System, 4.532%, 1/1/35 1,141,077
2,325,000 Virginia Commonwealth Transportation Board,
4.0%, 5/15/31 2,507,373
2,335,000 Virginia Commonwealth Transportation Board,
4.0%, 5/15/32 2,503,027
--------------
$ 15,470,667
----------------------------------------------------------------------------------------------------
Municipal Higher Education -- 0.8%
1,025,000 Baylor University, 4.313%, 3/1/42 $ 1,086,602
7,425,000 Massachusetts Development Finance Agency,
Harvard University-Series A, 5.0%, 7/15/40 9,764,766
4,340,000 New York State Dormitory Authority, 5.0%, 10/1/46 5,826,624
1,900,000 The George Washington University, 1.827%, 9/15/17 1,901,566
16,810,000 University Of California CA Revenues,
3.063%, 7/01/25 16,930,528
3,100,000 University of Virginia, Green Bond Series A,
5.0%, 4/1/45 3,590,916
--------------
$ 39,101,002
----------------------------------------------------------------------------------------------------
Municipal Medical -- 0.1%
1,765,000 Ohio Higher Educational Facility Commission,
5.0%, 1/1/42 $ 1,966,510
----------------------------------------------------------------------------------------------------
Municipal School District -- 0.1%
2,800,000 Frisco Independent School District, 4.0%, 8/15/40 $ 2,958,172
1,750,000 Frisco Independent School District, 4.0%, 8/15/45 1,839,162
--------------
$ 6,763,844
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 81
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Municipal Transportation -- 0.1%
3,220,000 Fairfax County Economic Development Authority,
2.875%, 4/1/34 $ 2,937,638
600,000 Port Authority of New York & New Jersey,
4.458%, 10/1/62 653,706
2,830,000 Virginia Commonwealth Transportation Board,
3.0%, 5/15/39 2,635,466
--------------
$ 6,226,810
----------------------------------------------------------------------------------------------------
Municipal Obligation -- 0.1%
3,150,000 State of Texas, 4.0%, 10/1/44 $ 3,309,768
1,600,000 State of Washington, 5.0%, 7/1/30 1,876,288
--------------
$ 5,186,056
----------------------------------------------------------------------------------------------------
TOTAL MUNICIPAL BONDS
(Cost $71,881,579) $ 72,748,379
----------------------------------------------------------------------------------------------------
SENIOR FLOATING RATE LOAN
INTERESTS -- 3.4%*
ENERGY -- 0.3%
Oil & Gas Drilling -- 0.2%
7,165,000 7.08 Gavilan Resources LLC, Initial Term Loan (Second
Lien), 2/23/24 $ 6,824,662
----------------------------------------------------------------------------------------------------
Oil & Gas Refining & Marketing -- 0.0%+
566,414 3.23 Pilot Travel Centers LLC, Initial Tranche B Term
Loan, 5/25/23 $ 570,379
----------------------------------------------------------------------------------------------------
Oil & Gas Storage & Transportation -- 0.1%
1,300,000 3.83 Energy Transfer Equity LP, Loan, 2/2/24 $ 1,295,241
1,866,440 6.55 Gulf Finance LLC, Tranche B Term Loan, 8/17/23 1,749,788
--------------
$ 3,045,029
--------------
Total Energy $ 10,440,070
----------------------------------------------------------------------------------------------------
MATERIALS -- 0.2%
Commodity Chemicals -- 0.0%+
1,547,177 4.80 Tronox Pigments Holland BV, New Term Loan, 3/19/20 $ 1,559,673
----------------------------------------------------------------------------------------------------
Specialty Chemicals -- 0.1%
317,579 4.41 Allnex USA, Inc., Term Loan, 9/13/23 $ 318,373
421,533 4.41 Allnex USA, Inc., Term Loan, 9/13/23 422,587
672,551 4.23 Macdermid, Inc., Term Loan, 6/7/23 675,143
67,049 4.23 Huntsman International LLC, 2015 Extended
Term B Dollar Loan, 4/19/19 67,370
595,500 5.48 OMNOVA Solutions, Inc., Term B-2 Loan, 8/17/23 602,572
391,974 3.17 WR Grace & Co-Conn, U.S. Term Loan, 1/23/21 393,567
--------------
$ 2,479,612
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
82 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Construction Materials -- 0.1%
103,743 3.95 CeramTec Acquisition Corp., Initial Dollar Term
B-2 Loan, 8/30/20 $ 104,521
262,365 3.95 CeramTec GmbH, Dollar Term B-3 Loan, 8/30/20 264,333
862,198 3.95 CeramTec GmbH, Initial Dollar Term B-1 Loan, 8/30/20 868,664
775,000 5.05 Unifrax I LLC, Term Loan (First Lien), 3/30/24 783,719
--------------
$ 2,021,237
----------------------------------------------------------------------------------------------------
Metal & Glass Containers -- 0.0%+
510,998 4.33 Bway Holding Co., Term Loan, 3/23/24 $ 511,180
----------------------------------------------------------------------------------------------------
Paper Packaging -- 0.0%+
498,750 3.62 Berry Plastics Corp., Term J Loan, 1/13/24 $ 499,720
----------------------------------------------------------------------------------------------------
Steel -- 0.0%+
398,000 4.79 Zekelman Industries, Inc., Term Loan, 6/8/21 $ 401,648
----------------------------------------------------------------------------------------------------
Paper Products -- 0.0%+
323,346 4.48 Rack Holdings, Inc., Tranche B-1 USD Term
Loan, 10/1/21 $ 324,154
--------------
Total Materials $ 7,797,224
----------------------------------------------------------------------------------------------------
CAPITAL GOODS -- 0.4%
Aerospace & Defense -- 0.1%
994,924 5.73 Alion Science & Technology Corp., Term Loan
(First Lien), 8/13/21 $ 997,411
2,339,711 3.98 DigitalGlobe, Inc., Term Loan, 12/22/23 2,345,560
1,424,747 6.05 The SI Organization, Inc., Term Loan (First
Lien), 11/19/19 1,445,674
--------------
$ 4,788,645
----------------------------------------------------------------------------------------------------
Building Products -- 0.0%+
424,309 4.07 Builders Firstsource, Inc., Term Loan 2/29/24 $ 424,132
1,473,448 4.25 NCI Building Systems, Inc., Tranche B Term
Loan, 6/24/19 1,483,578
--------------
$ 1,907,710
----------------------------------------------------------------------------------------------------
Electrical Components & Equipment -- 0.1%
1,493,507 3.73 Dell International LLC, Term Loan, 9/7/23 $ 1,501,375
2,012,396 3.62 Southwire Co., Term Loan, 1/31/21 2,020,782
--------------
$ 3,522,157
----------------------------------------------------------------------------------------------------
Industrial Conglomerates -- 0.1%
746,127 4.48 Filtration Group, Inc., Term Loan (First Lien), 11/21/20 $ 752,267
1,299,074 4.23 Milacron LLC, Term Loan, 9/25/23 1,303,946
--------------
$ 2,056,213
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 83
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Construction & Farm Machinery & Heavy
Trucks -- 0.0%+
740,602 5.09 Navistar, Inc., Tranche B Term Loan, 8/7/20 $ 749,396
----------------------------------------------------------------------------------------------------
Industrial Machinery -- 0.1%
3,442,393 5.48 NN, Inc., Tranche B Term Loan, 10/19/22 $ 3,441,856
----------------------------------------------------------------------------------------------------
Trading Companies & Distributors -- 0.0%+
594,015 4.92 Nexeo Solutions LLC, Term Loan, 6/9/23 $ 600,048
387,691 4.49 WESCO Distribution, Inc., Tranche B-1 Loan, 12/12/19 389,024
--------------
$ 989,072
--------------
Total Capital Goods $ 17,455,049
----------------------------------------------------------------------------------------------------
COMMERCIAL SERVICES & SUPPLIES -- 0.1%
Environmental & Facilities Services -- 0.1%
398,564 4.80 Infiltrator Water Technologies LLC, Term B-1
Loan, 5/27/22 $ 401,554
895,420 4.05 Waste Industries USA, Inc., Term B Loan, 2/27/20 900,457
--------------
$ 1,302,011
----------------------------------------------------------------------------------------------------
Security & Alarm Services -- 0.0%+
599,524 5.23 Garda World Security Corp., Term Loan, 5/3/24 $ 603,271
----------------------------------------------------------------------------------------------------
Human Resource & Employment Services -- 0.0%+
678,946 3.29 On Assignment, Inc., Tranche B-2 Term Loan, 6/5/22 $ 685,028
--------------
Total Commercial Services & Supplies $ 2,590,310
----------------------------------------------------------------------------------------------------
TRANSPORTATION -- 0.0%+
Airlines -- 0.0%+
786,000 3.73 Delta Air Lines, Inc., Term Loan (First Lien), 8/24/22 $ 793,369
--------------
Total Transportation $ 793,369
----------------------------------------------------------------------------------------------------
AUTOMOBILES & COMPONENTS -- 0.2%
Auto Parts & Equipment -- 0.2%
632,002 3.22 Allison Transmission, Inc., Term B-3 Loan, 8/23/19 $ 636,527
4,182,750 3.47 American Axle & Manufacturing, Inc., Term
Loan, 3/9/24 4,166,542
2,024,794 6.05 Electrical Components International, Inc.,
Loan, 4/17/21 2,037,449
814,623 4.93 Federal-Mogul Corporation, Tranche C Term, 4/15/21 817,933
1,754,223 3.98 TI Group Automotive Systems LLC, Initial US Term
Loan, 6/25/22 1,756,416
1,193,436 3.88 Tower Automotive Holdings USA LLC, Term
Loan, 3/6/24 1,195,674
--------------
$ 10,610,541
----------------------------------------------------------------------------------------------------
Tires & Rubber -- 0.0%+
1,396,667 3.12 The Goodyear Tire & Rubber Co., Term Loan
(Second Lien), 3/27/19 $ 1,409,178
--------------
Total Automobiles & Components $ 12,019,719
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
84 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
CONSUMER DURABLES & APPAREL -- 0.0%+
Apparel, Accessories & Luxury Goods -- 0.0%+
374,853 3.73 Hanesbrands, Inc., New Term B Loan, 4/15/22 $ 378,365
----------------------------------------------------------------------------------------------------
Footwear -- 0.0%+
893,256 3.23 Regal Cinemas Corp., Term Loan, 4/1/22 $ 896,526
--------------
Total Consumer Durables & Apparel $ 1,274,891
----------------------------------------------------------------------------------------------------
CONSUMER SERVICES -- 0.2%
Casinos & Gaming -- 0.1%
13,333 4.30 Pinnacle Entertainment Inc., Term Loan, 3/30/23 $ 13,429
3,339,169 5.11 Scientific Games International, Inc., Initial Term B-3
Loan, 10/1/21 3,376,137
--------------
$ 3,389,566
----------------------------------------------------------------------------------------------------
Leisure Facilities -- 0.0%+
504,023 5.48 L.A. Fitness International LLC, Tranche B Term
Loan (First Lien), 4/25/20 $ 511,478
1,292,915 3.23 Six Flags Theme Parks, Inc., Tranche B Term
Loan, 6/30/22 1,306,450
--------------
$ 1,817,928
----------------------------------------------------------------------------------------------------
Education Services -- 0.0%+
575,248 3.48 Bright Horizons Family Solutions, Inc., Term
Loan, 11/3/23 $ 579,322
987,406 4.23 Houghton Mifflin Harcourt Publishers, Inc., Term
Loan, 5/11/21 941,738
987,277 4.70 Nord Anglia Education, Initial Term Loan, 3/31/21 990,363
--------------
$ 2,511,423
----------------------------------------------------------------------------------------------------
Specialized Consumer Services -- 0.1%
650,000 6.16 Constellis Group, Inc., Term Loan, 4/18/24 $ 644,041
766,614 5.29 GENEX Holdings, Inc., Term B Loan (First
Lien), 5/22/21 763,260
2,238,722 5.05 Kuehg Corp., Term Loan, 8/13/22 2,253,415
--------------
$ 3,660,716
--------------
Total Consumer Services $ 11,379,633
----------------------------------------------------------------------------------------------------
MEDIA -- 0.3%
Broadcasting -- 0.1%
1,300,000 3.10 Nielsen Finance LLC, Term Loan, 10/4/23 $ 1,302,807
2,206,385 3.98 Univision Communications, Inc., Term Loan, 3/15/24 2,169,843
--------------
$ 3,472,650
----------------------------------------------------------------------------------------------------
Cable & Satellite -- 0.1%
1,656,000 3.23 Charter Communications Operating LLC, Term F-1
Loan, 1/3/21 $ 1,662,554
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 85
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Cable & Satellite -- (continued)
720,343 4.00 Intelsat Jackson Holdings SA, Tranche B-2 Term
Loan, 6/30/19 $ 715,241
650,000 3.91 UPC Financing Partnership, Facility AP, 4/15/25 651,544
--------------
$ 3,029,339
----------------------------------------------------------------------------------------------------
Movies & Entertainment -- 0.1%
563,091 3.46 AMC Entertainment, Inc., Initial Term Loan, 4/30/20 $ 565,379
2,064,426 3.32 Live Nation Entertainment, Inc., Term Loan, 10/27/23 2,075,398
3,179,059 3.73 Rovi Solutions Corp., Term B Loan, 7/2/21 3,186,609
--------------
$ 5,827,386
----------------------------------------------------------------------------------------------------
Publishing -- 0.0%+
1,396,923 3.58 DH Publishing LP, Term Loan, 8/20/23 $ 1,399,812
--------------
Total Media $ 13,729,187
----------------------------------------------------------------------------------------------------
RETAILING -- 0.1%
Specialty Stores -- 0.0%+
1,143,919 4.22 PetSmart, Inc., Tranche B-2 Loan, 3/10/22 $ 1,065,186
----------------------------------------------------------------------------------------------------
Automotive Retail -- 0.1%
1,374,757 3.55 Cooper-Standard Automotive, Inc., Additional
Term B-1 Loan, 10/28/23 $ 1,377,120
1,998,209 4.84 CWGS Group LLC, Term Loan, 11/3/23 2,011,447
--------------
$ 3,388,567
----------------------------------------------------------------------------------------------------
Homefurnishing Retail -- 0.0%+
1,663,308 4.77 Serta Simmons Holdings, Term Loan, 10/21/23 $ 1,662,962
--------------
Total Retailing $ 6,116,715
----------------------------------------------------------------------------------------------------
FOOD, BEVERAGE & TOBACCO -- 0.1%
Agricultural Products -- 0.0%+
1,818,205 3.73 Darling International, Inc., Term B USD
Loan, 12/19/20 $ 1,834,683
----------------------------------------------------------------------------------------------------
Packaged Foods & Meats -- 0.1%
3,543,885 5.75 JBS USA Lux SA, Term Loan, 10/30/22 $ 3,459,165
487,729 3.23 Pinnacle Foods Finance LLC, Initial Term
Loan, 1/30/24 489,863
--------------
$ 3,949,028
--------------
Total Food, Beverage & Tobacco $ 5,783,711
----------------------------------------------------------------------------------------------------
HOUSEHOLD & PERSONAL PRODUCTS -- 0.1%
Personal Products -- 0.1%
3,726,912 4.73 Revlon Consumer Products Corp., Initial Term B
Loan, 7/22/23 $ 3,483,888
506,366 4.80 The Nature's Bounty Co., Dollar Term B-1
Loan, 5/5/23 507,569
--------------
$ 3,991,457
--------------
Total Household & Personal Products $ 3,991,457
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
86 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES -- 0.4%
Health Care Supplies -- 0.1%
2,555,000 4.55 Kinetic Concepts, Inc., Term Loan B, 2/1/24 $ 2,545,950
733,794 4.15 Sterigenics-Nordion Holdings LLC, Term Loan, 5/15/22 732,418
--------------
$ 3,278,368
----------------------------------------------------------------------------------------------------
Health Care Services -- 0.1%
911,558 4.44 Alliance HealthCare Services, Inc., Initial Term
Loan, 6/3/19 $ 913,457
180,983 6.80 Ardent Legacy Acquisitions, Inc., Term Loan, 7/31/21 182,001
246,068 3.98 DaVita HealthCare Partners, Inc., Tranche B Loan
(First Lien), 6/19/21 247,803
489,907 4.30 MPH Acquisition Holdings LLC, Initial Term
Loan, 5/25/23 491,591
1,097,250 3.98 Team Heal, Inc., Term Loan, 1/12/24 1,092,724
--------------
$ 2,927,576
----------------------------------------------------------------------------------------------------
Health Care Facilities -- 0.2%
893,084 4.05 CHS, Incremental 2019 Term G Loan, 12/31/19 $ 892,875
1,646,077 4.15 CHS, Incremental 2021 Term H Loan, 1/27/21 1,645,489
1,717,890 3.23 HCA, Inc., Term Loan, 3/10/23 1,724,451
627,933 3.48 HCA, Inc., Tranche B-8 Term Loan, 2/15/24 631,466
541,631 4.69 Kindred Healthcare, Inc., Tranche B Loan (First
Lien), 4/10/21 544,903
1,163,273 4.65 Select Medical Corp., Term Loan, 2/13/24 1,174,172
1,737,710 4.73 Vizient Inc., Term Loan, 2/13/23 1,756,173
--------------
$ 8,369,529
----------------------------------------------------------------------------------------------------
Health Care Technology -- 0.0%+
1,296,750 3.98 Change Healthcare Holdings, Inc., Term
Loan, 2/3/24 $ 1,298,573
1,134,300 3.23 Quintiles Ims Inc., Term Loan, 3/7/24 1,143,398
--------------
$ 2,441,971
--------------
Total Health Care Equipment & Services $ 17,017,444
----------------------------------------------------------------------------------------------------
PHARMACEUTICALS, BIOTECHNOLOGY &
LIFE SCIENCES -- 0.2%
Biotechnology -- 0.0%+
730,818 3.97 Alkermes, Inc., 2021 Term Loan, 9/25/19 $ 736,300
----------------------------------------------------------------------------------------------------
Pharmaceuticals -- 0.1%
313,935 5.50 Concordia Healthcare Corp., Initial Dollar Term
Loan, 10/20/21 $ 236,040
723,188 3.44 Grifols Worldwide Operations USA, Inc., Tranche B
Term Loan, 1/23/25 725,178
789,357 4.05 Mallinckrodt International Finance SA., Term
Loan, 9/24/24 788,173
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 87
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Pharmaceuticals -- (continued)
2,576,944 3.30 RPI Finance Trust, Term Loan, 3/17/23 $ 2,589,628
1,244,396 5.83 Valeant Pharmaceuticals, Series F-1, 3/11/22 1,262,631
--------------
$ 5,601,650
----------------------------------------------------------------------------------------------------
Life Sciences Tools & Services -- 0.1%
1,237,406 5.91 Albany Molecular Research, Inc., Term Loan, 7/14/21 $ 1,244,882
2,390,731 3.98 Catalent Pharma Solutions, Dollar Term Loan, 5/20/21 2,415,136
--------------
$ 3,660,018
--------------
Total Pharmaceuticals, Biotechnology &
Life Sciences $ 9,997,968
----------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIALS -- 0.1%
Other Diversified Financial Services -- 0.0%+
1,176,591 3.29 Fly Funding II Sarl, Loan, 8/9/19 $ 1,180,024
----------------------------------------------------------------------------------------------------
Specialized Finance -- 0.1%
1,700,978 3.50 BC Unlimited Liability Co., Term Loan, 2/17/24 $ 1,700,625
1,462,245 3.73 Trans Union LLC, 2016 Incremental Term B-2
Commitment, 4/9/21 1,473,995
--------------
$ 3,174,620
----------------------------------------------------------------------------------------------------
Diversified Capital Markets -- 0.0%+
1,500,000 3.96 Avolon Tlb Borrower, Term Loan, 1/20/22 $ 1,515,009
--------------
Total Diversified Financials $ 5,869,653
----------------------------------------------------------------------------------------------------
INSURANCE -- 0.0%+
Insurance Brokers -- 0.0%+
1,140,880 4.80 NFP Corp., Term B Loan, 12/9/23 $ 1,147,583
----------------------------------------------------------------------------------------------------
Property & Casualty Insurance -- 0.0%+
850,000 4.18 USI, Inc., Tl Lien, Term Loan, 4/5/24 $ 845,856
--------------
Total Insurance $ 1,993,439
----------------------------------------------------------------------------------------------------
REAL ESTATE -- 0.1%
Retail REIT -- 0.0%+
987,406 4.42 DTZ US Borrower LLC, 2015-1 Additional Term
Loan (First Lien), 11/4/21 $ 988,763
----------------------------------------------------------------------------------------------------
Specialized REIT -- 0.1%
1,625,302 6.25 Uniti Group, Inc., Shortfall Term Loan, 10/24/22 $ 1,626,989
--------------
Total Real Estate $ 2,615,752
----------------------------------------------------------------------------------------------------
SOFTWARE & SERVICES -- 0.2%
Internet Software & Services -- 0.1%
384,000 5.04 Blucora, Inc., Term Loan, 4/21/24 $ 386,400
1,870,313 4.17 Rackspace Hosting, Inc., Term Loan, 11/3/23 1,873,586
--------------
$ 2,259,986
----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these financial statements.
88 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
IT Consulting & Other Services -- 0.0%+
1,223,685 3.73 Go Daddy Operating Co., LLC, Initial Term
Loan, 2/6/24 $ 1,227,815
820,865 5.55 Rocket Software, Inc., Term Loan (First
Lien), 10/11/23 829,279
--------------
$ 2,057,094
----------------------------------------------------------------------------------------------------
Data Processing & Outsourced Services -- 0.1%
917,563 3.72 First Data Corporation, Term Loan, 4/21/24 $ 918,366
1,259,764 3.47 First Data Corporation, Term Loan, 7/10/22 1,259,413
--------------
$ 2,177,779
----------------------------------------------------------------------------------------------------
Application Software -- 0.0%+
746,241 6.42 DTI HoldCo, Inc., Term Loan (First Lien), 9/23/23 $ 726,185
350,000 6.55 STG-Fairway Acquisitions, Inc., Term Loan (First
Lien), 6/30/22 322,438
--------------
$ 1,048,623
----------------------------------------------------------------------------------------------------
Systems Software -- 0.0%+
465,684 4.55 Avast Software BV, Term Loan, 9/30/23 $ 470,535
110,000 0.00 MA Financeco LLC, Term Loan, 4/18/24 110,124
740,000 2.75 Seattle Spinco, Inc., Term Loan, 4/18/24 740,832
--------------
$ 1,321,491
--------------
Total Software & Services $ 8,864,973
----------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT -- 0.0%+
Communications Equipment -- 0.0%+
903,973 3.71 Ciena Corp., Term Loan, 2/25/22 $ 908,493
--------------
Total Technology Hardware & Equipment $ 908,493
----------------------------------------------------------------------------------------------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 0.1%
Semiconductor Equipment -- 0.0%+
1,095,530 3.55 Sensata Technologies BV, Sixth Amendment Term
Loan, 10/14/21 $ 1,104,209
----------------------------------------------------------------------------------------------------
Semiconductors -- 0.1%
368,594 3.33 Microsemi Corp., Closing Date Term B Loan, 12/17/22 $ 370,015
1,269,317 3.48 Semiconductor Corp., Term Loan, 3/31/23 1,272,888
--------------
$ 1,642,903
--------------
Total Semiconductors & Semiconductor Equipment $ 2,747,112
----------------------------------------------------------------------------------------------------
TELECOMMUNICATION SERVICES -- 0.2%
Integrated Telecommunication Services -- 0.1%
2,000,000 1.38 Centurylink, Inc., Term Loan, 1/31/25 $ 1,980,714
1,143,313 4.23 Cincinnati Bell, Inc., Tranche B Term Loan, 9/10/20 1,152,246
1,186,736 4.04 GCI Holdings, Inc., New Term B Loan (2016), 2/2/22 1,194,895
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 89
Schedule of Investments | 6/30/17 (continued)
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Integrated Telecommunication
Services -- (continued)
1,200,000 3.47 Level 3 Financing, Inc., Term Loan, 2/17/24 $ 1,204,250
--------------
$ 5,532,105
----------------------------------------------------------------------------------------------------
Wireless Telecommunication Services -- 0.1%
1,849,053 3.47 Altice Us Finance I Corp., Term Loan, 7/28/25 $ 1,850,439
1,296,750 3.75 Sprint Communications, Inc., Term Loan, 2/2/24 1,298,139
--------------
$ 3,148,578
--------------
Total Telecommunication Services $ 8,680,683
----------------------------------------------------------------------------------------------------
UTILITIES -- 0.2%
Electric Utilities -- 0.1%
1,665,676 3.48 Calpine Construction Finance Co., LP, Term B-1
Loan, 5/3/20 $ 1,665,416
1,687,438 5.11 TPF II Power, LLC, Term Loan, 10/2/21 1,682,376
415,194 3.98 Vistra Operations Co., LLC, Initial Term C
Loan, 8/4/23 411,717
1,811,364 3.98 Vistra Operations Co., LLC, Initial Term Loan, 8/4/23 1,796,194
--------------
$ 5,555,703
----------------------------------------------------------------------------------------------------
Independent Power Producers & Energy
Traders -- 0.1%
997,500 4.48 Dynegy, Inc., Tranche C-1 Term Loan, 6/27/23 $ 996,495
1,292,588 3.55 NRG Energy, Inc., Term Loan, 6/30/23 1,291,665
--------------
$ 2,288,160
--------------
Total Utilities $ 7,843,863
----------------------------------------------------------------------------------------------------
TOTAL SENIOR FLOATING RATE LOAN INTERESTS
(Cost $158,846,545) $ 159,910,715
----------------------------------------------------------------------------------------------------
TEMPORARY CASH INVESTMENTS -- 2.2%
Repurchase Agreements -- 2.0%
28,245,000 $28,245,000 ScotiaBank, 1.12%, dated 6/30/17
plus accrued interest on 7/3/17
collateralized by the following:
$17,933,274 Freddie Mac Giant, 3.5, 6/1/42
$27,848,125 Federal National Mortgage
Association (ARM), 2.5 -- 4.5%, 4/1/26-5/1/47 $ 28,245,000
15,085,000 $15,085,000 RBC Capital Markets LLC, 1.06%,
dated 6/30/17 plus accrued interest on 7/3/17
collateralized by the following:
$1,128,170 Freddie Mac Giant, 4.5%,
4/1/44-7/1/44
$2,557,950 Federal National Mortgage
Association (ARM), 3.31, 2/1/27
$3,391,668 Federal National Mortgage
Association, 2.5-4.0%, 3/1/27-5/1/47
$8,308,913 Government National Mortgage
Association, 3.5-4.0%, 3/20/47-4/20/47 15,085,000
The accompanying notes are an integral part of these financial statements.
90 Pioneer Bond Fund | Annual Report | 6/30/17
----------------------------------------------------------------------------------------------------
Principal Floating
Amount ($) Rate (b) Value
----------------------------------------------------------------------------------------------------
Repurchase Agreements -- (continued)
24,835,000 $24,835,000 TD Securities USA LLC, 1.10%,
dated 6/30/17 plus accrued interest on 7/3/17
collateralized by the following:
$8,900,966 Freddie Mac Giant, 3.0% -- 5.8%,
10/1/18-2/1/47
$6,460,818 Federal National Mortgage
Association, 3.0-8.0%, 8/1/21-11/1/46
9,969,922 U.S. Treasury Notes, 1.375%, 9/30/20 $ 24,835,000
24,835,000 $24,835,000 TD Securities USA LLC, 1.12%,
dated 6/30/17 plus accrued interest on 7/3/17
collateralized by the following:
$100 U.S. Treasury Bill, 0.0%, 7/20/17
$19,027,745 Federal National Mortgage
Association, 3.5-4.0%, 1/1/44-2/1/46
$6,303,925 U.S. Treasury Notes, 2.5%, 8/15/23 24,835,000
--------------
$ 93,000,000
----------------------------------------------------------------------------------------------------
Commercial Paper -- 0.2%
9,550,000 Energy Transfer Discount Note, 7/6/17 (c) $ 9,547,295
----------------------------------------------------------------------------------------------------
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $102,547,480) $ 102,547,295
----------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN SECURITIES -- 99.6%
(Cost $4,657,369,720) (a) $4,696,959,831
----------------------------------------------------------------------------------------------------
OTHER ASSETS & LIABILITIES -- 0.4% $ 19,621,678
----------------------------------------------------------------------------------------------------
NET ASSETS -- 100.0% $4,716,581,509
====================================================================================================
+ Amount rounds to less than 0.1%.
(Step) Bond issued with an initial coupon rate which converts to a higher
rate at a later date.
REMICS Real Estate Mortgage Investment Conduits.
(Perpetual) Security with no stated maturity date.
(ARM) Adjustable Rate Mortgage.
(Cat Bond) Catastrophe or event linked bond. At June 30, 2017 the value of
these securities amounted to $67,530,260 or 1.4% of net assets. See
Notes to Financial Statements -- 1F.
FREMF Freddie Mac Multifamily Fixed-Rate Mortgage Loans.
REIT Real Estate Investment Trust.
(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, 2017, the value of these securities
amounted to $1,300,478,838 or 27.6% of net assets.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 91
Schedule of Investments | 6/30/17 (continued)
* Senior floating rate loan interests in which the Fund invests
generally pay interest at rates that are periodically redetermined
by reference to a base lending rate plus a premium. These base
lending rates are generally (i) the lending rate offered by one or
more major European banks, such as LIBOR (London InterBank Offered
Rate), (ii) the prime rate offered by one or more major U.S. banks,
(iii) the certificate of deposit or (iv) other base lending rates
used by commercial lenders. The rate shown is the coupon rate at
period end.
(a) At June 30, 2017, the net unrealized appreciation on investments
based on cost for federal income tax purposes of $4,666,726,201 was
as follows:
Aggregate gross unrealized appreciation for all investments in
which there is an excess of value over tax cost $ 65,987,956
Aggregate gross unrealized depreciation for all investments in
which there is an excess of tax cost over value (35,754,326)
-------------
Net unrealized appreciation $ 30,233,630
=============
(b) Debt obligation with a variable interest rate. Rate shown is rate at
period end.
(c) Security issued with a zero coupon. Income is earned through
accretion of discount.
(d) Security is valued using fair value methods (other than prices
supplied by independent pricing services or broker-dealers). See
Notes to Financial Statements -- Note 1A.
(e) Structured reinsurance investment. At June 30, 2017, the value of
these securities amounted to $68,798,858 or 1.5% of net assets. See
Notes to Financial Statements -- Note 1F.
(f) Rate to be determined.
(g) Consists of Revenue Bonds unless otherwise indicated.
(h) Security represents the interest only portion payments on a pool of
underlying mortgages or mortgage-backed securities.
Purchases and sales of securities (excluding temporary cash investments) for the
year ended June 30, 2017 were as follows:
-----------------------------------------------------------------------------
Purchases Sales
-----------------------------------------------------------------------------
Long-Term U.S. Government $ 803,289,132 $ 471,665,749
Other Long-Term Securities 1,748,693,353 1,336,500,453
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. (Amundi Pioneer), formerly Pioneer Investment Management, Inc.
(PIM), 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, 2017, the Fund engaged in purchases and sales
pursuant to these procedures amounting to $31,829,322 and $9,534,651,
respectively, which resulted in a net realized gain of $353,563.
The accompanying notes are an integral part of these financial statements.
92 Pioneer Bond Fund | Annual Report | 6/30/17
CREDIT DEFAULT SWAP AGREEMENTS -- SELL PROTECTION
-------------------------------------------------------------------------------------------------------
Notional Obligation Credit Expiration Premiums Unrealized
Principal ($)(1) Counterparty Entity/Index Coupon Rating(2) Date Received Appreciation
-------------------------------------------------------------------------------------------------------
6,808,791 JP Morgan Simon Property 1.00% A 6/20/22 $(21,209) $74,007
Group LP
-------------------------------------------------------------------------------------------------------
$(21,209) $74,007
=======================================================================================================
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS -- SELL PROTECTION
-------------------------------------------------------------------------------------------------------
Notional Obligation Credit Expiration Premiums Unrealized
Principal ($)(1) Counterparty Entity/Index Coupon Rating(2) Date Received Appreciation
-------------------------------------------------------------------------------------------------------
23,690,700 Chicago Markit CDX 1.00% B+ 6/20/20 $(1,831,702) $15,152
Mercantile North America
Exchange Investment
Grade Index
-------------------------------------------------------------------------------------------------------
$(1,831,702) $15,152
=======================================================================================================
CDX Credit Default Index
(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) Based on Standard & Poor's rating of the issuer or the weighted average of
all the underlying securities in the index.
Various inputs are used in determining the value of the Funds's investments.
These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices in active markets for identical securities.
Level 2 - other significant observable inputs (including quoted prices for
similar securities, interest rates, prepayment speeds, credit risk,
etc.). See Notes to Financial Statements -- Note 1A.
Level 3 - significant unobservable inputs (including the Fund's own assumptions
in determining fair value of investments). See Notes to Financial
Statements -- Note 1A.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 93
Schedule of Investments | 6/30/17 (continued)
The following is a summary of the inputs used as of June 30, 2017, in valuing
the Fund's investments:
------------------------------------------------------------------------------------------------------
Level 1 Level 2 Level 3 Total
------------------------------------------------------------------------------------------------------
Convertible Preferred Stocks $ 46,845,749 $ -- $ -- $ 46,845,749
Asset Backed Securities -- 235,889,774 -- 235,889,774
Collateralized Mortgage Obligations -- 873,081,588 -- 873,081,588
Corporate Bonds
Diversified Financials
Other Diversified
Financial Services -- -- 1,547,747 1,547,747
Insurance
Reinsurance -- 67,530,260 68,798,858 136,329,118
All Other Corporate Bonds -- 1,461,025,785 -- 1,461,025,785
U.S. Government and
Agency Obligations -- 1,596,339,263 -- 1,596,339,263
Foreign Government Bonds -- 10,694,418 -- 10,694,418
Municipal Bonds -- 72,748,379 -- 72,748,379
Senior Floating Rate Loan Interests -- 159,910,715 -- 159,910,715
Repurchase Agreements -- 93,000,000 -- 93,000,000
Commercial Paper -- 9,547,295 -- 9,547,295
------------------------------------------------------------------------------------------------------
Total $ 46,845,749 $ 4,579,767,477 $ 70,346,605 $4,696,959,831
======================================================================================================
Other Financial Instruments
Unrealized appreciation on
swap contracts $ -- $ 74,007 $ -- $ 74,007
Unrealized appreciation on
centrally cleared swap contracts -- 15,152 -- 15,152
Unrealized appreciation on
futures contracts 3,146,419 -- -- 3,146,419
Unrealized depreciation on
futures contracts (296,108) -- -- (296,108)
------------------------------------------------------------------------------------------------------
Total Other
Financial Instruments $ 2,850,311 $ 89,159 $ -- $ 2,939,470
======================================================================================================
The accompanying notes are an integral part of these financial statements.
94 Pioneer Bond Fund | Annual Report | 6/30/17
The following is a reconciliation of assets valued using significant
unobservable inputs (Level 3):
--------------------------------------------------------------------------------
Corporate
Bonds
--------------------------------------------------------------------------------
Balance as of 6/30/16 $ 61,501,798
Realized gain (loss)(1) 7,328
Change in unrealized appreciation (depreciation)(2) 3,090,207
Purchases 69,131,839
Sales (63,384,567)
Changes between Level 3* --
--------------------------------------------------------------------------------
Balance as of 6/30/17 $ 70,346,605
================================================================================
(1) Realized gain (loss) on these securities is included in the net realized
gain (loss) from investments in the Statement of Operations.
(2) Unrealized appreciation (depreciation) on these securities is included in
the change in unrealized appreciation (depreciation) on investments in the
Statement of Operations.
* Transfers are calculated on the beginning of period values. During the year
ended June 30, 2017, there were no transfers between Levels 1, 2 or 3.
Net change in unrealized appreciation (depreciation) of investments
still held as of 6/30/17 $3,877,124
----------
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 95
Statement of Assets and Liabilities | 6/30/17
ASSETS:
Investment in securities (cost $4,657,369,720 $4,696,959,831
Cash 15,522,139
Restricted cash* 5,199,920
Receivables --
Investment securities sold 12,939,532
Fund shares sold 45,967,012
Interest 24,015,513
Dividends 331,959
Due from Amundi Pioneer Asset Management, Inc. formerly Pioneer
Investment Management, Inc. 58,185
Variation margin on centrally cleared swap contracts 45,781
Variation margin on futures contracts 930,750
Unrealized appreciation on credit default swap contracts 74,007
Other assets 47,742
--------------------------------------------------------------------------------------
Total Assets $4,802,092,371
======================================================================================
LIABILITIES:
Payables --
Investment securities purchased $ 67,260,966
Fund shares repurchased 13,811,384
Dividends 2,189,906
Trustee fees 5,782
Credit default swaps, premiums received 21,209
Due to affiliates 673,601
Accrued expenses 1,548,014
--------------------------------------------------------------------------------------
Total Liabilities $ 85,510,862
======================================================================================
NET ASSETS:
Paid-in capital $4,688,788,619
Undistributed net investment income 1,987,223
Accumulated net realized loss on investments, swap contracts and
futures contracts (16,723,914)
Net unrealized appreciation on investments 39,590,111
Net unrealized appreciation on swap contracts 89,159
Net unrealized appreciation on futures contracts 2,850,311
--------------------------------------------------------------------------------------
Net Assets $4,716,581,509
======================================================================================
NET ASSET VALUE PER SHARE:
(No par value, unlimited number of shares authorized)
Class A (based on $1,156,939,727/119,124,204 shares) $ 9.71
Class C (based on $96,546,997/10,053,229 shares) $ 9.60
Class K (based on $726,063,070/74,805,997 shares) $ 9.71
Class R (based on $178,769,680/18,241,069 shares) $ 9.80
Class Y (based on $2,558,262,035/265,894,293 shares) $ 9.62
MAXIMUM OFFERING PRICE:
Class A ($9.71 / 95.5% ) $ 10.17
======================================================================================
* Represents restricted cash deposited at the counterparty for derivative
contracts.
The accompanying notes are an integral part of these financial statements.
96 Pioneer Bond Fund | Annual Report | 6/30/17
Statement of Operations
For the Year Ended 6/30/17
INVESTMENT INCOME:
Interest $ 145,043,025
Dividends 1,506,049
---------------------------------------------------------------------------------------------------
Total investment income $ 146,549,074
===================================================================================================
EXPENSES:
Management fees $ 16,975,464
Transfer agent fees
Class A 3,042,790
Class C 131,914
Class K 2,611
Class R 455,263
Class Y 2,744,596
Distribution fees
Class A 2,953,088
Class C 1,200,712
Class R 842,305
Shareholder communications expense 189,554
Administrative expense 1,334,755
Custodian fees 273,746
Registration fees 341,975
Professional fees 211,231
Printing expense 87,291
Fees and expenses of non-affiliated Trustees 209,221
Miscellaneous 496,291
---------------------------------------------------------------------------------------------------
Total expenses $ 31,492,807
Less fees waived and expenses reimbursed
by Amundi Pioneer Asset Management, Inc.,
(Amundi Pioneer) formerly Pioneer Investment
Management, Inc. (2,089,629)
---------------------------------------------------------------------------------------------------
Net expenses $ 29,403,178
---------------------------------------------------------------------------------------------------
Net investment income $ 117,145,896
---------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
SWAP CONTRACTS AND FUTURES CONTRACTS:
Net realized gain (loss) on:
Investments $ 22,457,936
Swap contracts (376,713)
Futures contracts 7,898,018 $ 29,979,241
---------------------------------------------------------------------------------------------------
Change in net unrealized appreciation (depreciation) on:
Investments $ (55,634,479)
Swap contracts 89,159
Futures contracts 20,153,109 $ (35,392,211)
---------------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments,
swap contracts futures contracts $ (5,412,970)
---------------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $(111,732,926)
===================================================================================================
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 97
Statements of Changes in Net Assets
----------------------------------------------------------------------------------------------
Year Ended Year Ended
6/30/17 6/30/16**
----------------------------------------------------------------------------------------------
FROM OPERATIONS:
Net investment income $ 117,145,896 $ 93,820,785
Net realized gain (loss) on investments, swap contracts
and futures contracts 29,979,241 (6,243,404)
Change in net unrealized appreciation (depreciation)
on investments, swap contracts and futures contracts (35,392,211) 59,491,707
----------------------------------------------------------------------------------------------
Net increase in net assets resulting from operations $ 111,732,926 $ 147,069,088
----------------------------------------------------------------------------------------------
DISTRIBUTIONS TO SHAREOWNERS:
Net investment income:
Class A ($0.29 and $0.27 per share, respectively) $ (35,066,940) $ (30,130,801)
Class C ($0.21 and $0.20 per share, respectively) (2,681,780) (2,503,533)
Class K ($0.33 and $0.31 per share, respectively) (14,828,850) (8,577,930)
Class R ($0.27 and $0.25 per share, respectively) (4,575,300) (3,514,545)
Class Y ($0.31 and $0.29 per share, respectively) (75,508,120) (56,701,826)
Class Z* ($0.00 and $0.03 per share, respectively) -- (184,669)
Net realized gains
Class A ($0.00 and $0.02 per share, respectively) -- (2,297,989)
Class C ($0.00 and $0.02 per share, respectively) -- (256,680)
Class K ($0.00 and $0.02 per share, respectively) -- (632,921)
Class R ($0.00 and $0.02 per share, respectively) -- (289,802)
Class Y ($0.00 and $0.02 per share, respectively) -- (3,842,000)
----------------------------------------------------------------------------------------------
Total distributions to shareowners $ (132,660,990) $ (108,932,696)
----------------------------------------------------------------------------------------------
FROM FUND SHARE TRANSACTIONS
Net proceeds from sale of shares $ 2,063,285,335 $ 1,673,600,863
Shares issued in reorganization -- 103,289,215
Reinvestment of distributions 102,010,632 82,738,583
Cost of shares repurchased (1,372,913,664) (1,113,066,216)
----------------------------------------------------------------------------------------------
Net increase in net assets resulting from
Fund share transactions $ 792,382,303 $ 746,562,445
----------------------------------------------------------------------------------------------
Net increase in net assets $ 771,454,239 $ 784,698,837
NET ASSETS:
Beginning of year $ 3,945,127,270 $ 3,160,428,433
----------------------------------------------------------------------------------------------
End of year $ 4,716,581,509 $ 3,945,127,270
----------------------------------------------------------------------------------------------
Undistributed net investment income $ 1,987,223 $ 3,684,926
==============================================================================================
* Class Z shares converted to Class Y shares on August 7, 2015.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
The accompanying notes are an integral part of these financial statements.
98 Pioneer Bond Fund | Annual Report | 6/30/17
------------------------------------------------------------------------------------------------
Year Ended Year Ended Year Ended Year Ended
6/30/17 6/30/17 6/30/16** 6/30/16**
Shares Amount Shares Amount
------------------------------------------------------------------------------------------------
Class A
Shares sold 36,669,895 $ 356,565,380 39,520,516 $ 381,082,323
Shares issued in reorganization -- -- 8,687,202 83,223,137
Reinvestment of distributions 2,534,877 24,634,219 2,429,101 23,363,971
Less shares repurchased (40,716,134) (395,166,041) (37,895,940) (364,153,575)
------------------------------------------------------------------------------------------------
Net increase (decrease) (1,511,362) $ (13,966,442) 12,740,879 $ 123,515,856
================================================================================================
Class C
Shares sold 1,704,424 $ 16,396,255 3,590,552 $ 34,068,700
Shares issued in reorganization -- -- 1,566,042 14,846,083
Reinvestment of distributions 184,381 1,771,759 171,403 1,630,270
Less shares repurchased (5,744,422) (55,006,633) (3,349,111) (31,797,823)
------------------------------------------------------------------------------------------------
Net increase (decrease) (3,855,617) $ (36,838,619) 1,978,886 $ 18,747,230
================================================================================================
Class K
Shares sold 50,598,291 $ 490,469,822 22,645,768 $ 217,799,806
Reinvestment of distributions 867,934 8,426,426 418,685 4,026,426
Less shares repurchased (11,501,721) (111,726,287) (6,730,820) (64,517,198)
------------------------------------------------------------------------------------------------
Net increase 39,964,504 $ 387,169,961 16,333,633 $ 157,309,034
================================================================================================
Class R
Shares sold 6,419,830 $ 62,895,959 7,857,134 $ 76,161,586
Reinvestment of distributions 371,546 3,642,529 332,632 3,227,431
Less shares repurchased (4,393,901) (43,080,190) (4,303,242) (41,715,627)
------------------------------------------------------------------------------------------------
Net increase 2,397,475 $ 23,458,298 3,886,524 $ 37,673,390
================================================================================================
Class Y
Shares sold 118,309,079 $ 1,136,957,919 101,127,077 $ 963,277,766
Shares issued in reorganization -- -- 550,053 5,219,995
Reinvestment of distributions 6,600,224 63,535,699 5,283,365 50,341,027
Less shares repurchased (79,896,185) (767,934,513) (57,493,210) (547,987,984)
------------------------------------------------------------------------------------------------
Net increase 45,013,118 $ 432,559,105 49,467,285 $ 470,850,804
================================================================================================
Class Z*
Shares sold -- $ -- 125,036 $ 1,210,682
Reinvestment of distributions -- -- 15,392 149,458
Less shares repurchased -- -- (6,477,629) (62,894,009)
------------------------------------------------------------------------------------------------
Net decrease -- $ -- (6,337,201) $ (61,533,869)
================================================================================================
* Class Z shares converted to Class Y shares on August 7, 2015.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 99
Financial Highlights
---------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/17 6/30/16** 6/30/15** 6/30/14** 6/30/13
---------------------------------------------------------------------------------------------------------------------------------
Class A
Net asset value, beginning of period $ 9.76 $ 9.68 $ 9.88 $ 9.67 $ 9.73
---------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.25(a) $ 0.25(a) $ 0.27 $ 0.35 $ 0.38
Net realized and unrealized gain (loss) on investments (0.01) 0.12 (0.14) 0.24 (0.07)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.24 $ 0.37 $ 0.13 $ 0.59 $ 0.31
---------------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.29) $ (0.27) $ (0.29) $ (0.38) $ (0.37)
Net realized gain -- (0.02) (0.04) -- --
---------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.29) $ (0.29) $ (0.33) $ (0.38) $ (0.37)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.05) $ 0.08 $ (0.20) $ 0.21 $ (0.06)
---------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.71 $ 9.76 $ 9.68 $ 9.88 $ 9.67
=================================================================================================================================
Total return* 2.48% 3.93% 1.32% 6.19% 3.21%
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 2.60% 2.58% 2.68% 3.52% 3.77%
Portfolio turnover rate 44% 43% 81% 41% 28%
Net assets, end of period (in thousands) $1,156,940 $1,177,941 $1,044,659 $706,962 $565,569
Ratios with no waiver of fees and assumption of expenses by
Amundi Pioneer formerly PIM and no reduction for fees
paid indirectly:
Total expenses to average net assets 0.99% 0.98% 0.93% 1.00% 1.01%
Net investment income (loss) to average net assets 2.46% 2.45% 2.60% 3.37% 3.61%
=================================================================================================================================
* 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.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
100 Pioneer Bond Fund | Annual Report | 6/30/17
---------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/17 6/30/16** 6/30/15** 6/30/14** 6/30/13
---------------------------------------------------------------------------------------------------------------------------------
Class C
Net asset value, beginning of period $ 9.66 $ 9.57 $ 9.77 $ 9.57 $ 9.63
---------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.18(a) $ 0.17(a) $ 0.19 $ 0.26 $ 0.29
Net realized and unrealized gain (loss) on investments (0.03) 0.14 (0.14) 0.23 (0.06)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.15 $ 0.31 $ 0.05 $ 0.49 $ 0.23
---------------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.21) $ (0.20) $ (0.21) $ (0.29) $ (0.29)
Net realized gain -- (0.02) (0.04) -- --
---------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.21) $ (0.22) $ (0.25) $ (0.29) $ (0.29)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.06) $ 0.09 $ (0.20) $ 0.20 $ (0.06)
---------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.60 $ 9.66 $ 9.57 $ 9.77 $ 9.57
=================================================================================================================================
Total return* 1.62% 3.28% 0.49% 5.20% 2.33%
Ratio of net expenses to average net assets 1.59% 1.60% 1.63% 1.73% 1.72%
Ratio of net investment income (loss) to average net assets 1.84% 1.84% 1.89% 2.69% 2.93%
Portfolio turnover rate 44% 43% 81% 41% 28%
Net assets, end of period (in thousands) $96,547 $134,299 $114,222 $73,224 $87,763
=================================================================================================================================
* 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.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 101
Financial Highlights (continued)
------------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year 12/20/12
Ended Ended Ended Ended to
6/30/17 6/30/16*** 6/30/15*** 6/30/14*** 6/30/13
------------------------------------------------------------------------------------------------------------------------------------
Class K
Net asset value, beginning of period $ 9.76 $ 9.68 $ 9.87 $ 9.67 $ 9.94
------------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.29(b) $ 0.29(b) $ 0.30 $ 0.40 $ 0.20
Net realized and unrealized gain (loss) on investments (0.01) 0.12 (0.13) 0.20 (0.26)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.28 $ 0.41 $ 0.17 $ 0.60 $ (0.06)
------------------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.33) $ (0.31) $ (0.32) $ (0.40) $ (0.21)
Net realized gain -- (0.02) (0.04) -- --
------------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.33) $ (0.33) $ (0.36) $ (0.40) $ (0.21)
------------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.05) $ 0.08 $ (0.19) $ 0.20 $ (0.27)
------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.71 $ 9.76 $ 9.68 $ 9.87 $ 9.67
====================================================================================================================================
Total return* 2.87% 4.32% 1.80% 6.37% (0.61)%(a)
Ratio of net expenses to average net assets 0.47% 0.47% 0.47% 0.56% 0.57%**
Ratio of net investment income (loss) to average net assets 3.01% 2.98% 3.03% 3.59% 3.86%**
Portfolio turnover rate 44% 43% 81% 41% 28%
Net assets, end of period (in thousands) $726,063 $340,096 $179,135 $ 4,398 $ 10
====================================================================================================================================
* Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period.
** Annualized.
*** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
(a) Not Annualized.
(b) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
102 Pioneer Bond Fund | Annual Report | 6/30/17
---------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/17 6/30/16** 6/30/15** 6/30/14** 6/30/13
---------------------------------------------------------------------------------------------------------------------------------
Class R
Net asset value, beginning of period $ 9.85 $ 9.77 $ 9.97 $ 9.76 $ 9.82
---------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.23(a) $ 0.23(a) $ 0.25 $ 0.32 $ 0.34
Net realized and unrealized gain (loss) on investments (0.01) 0.12 (0.15) 0.23 (0.06)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.22 $ 0.35 $ 0.10 $ 0.55 $ 0.28
---------------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.27) $ (0.25) $ (0.26) $ (0.34) $ (0.34)
Net realized gain -- (0.02) (0.04) -- --
---------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.27) $ (0.27) $ (0.30) $ (0.34) $ (0.34)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.05) $ 0.08 $ (0.20) $ 0.21 $ (0.06)
---------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.80 $ 9.85 $ 9.77 $ 9.97 $ 9.76
=================================================================================================================================
Total return* 2.23% 3.66% 1.06% 5.75% 2.80%
Ratio of net expenses to average net assets 1.10% 1.10% 1.10% 1.25% 1.25%
Ratio of net investment income (loss) to average net assets 2.35% 2.33% 2.43% 3.12% 3.36%
Portfolio turnover rate 44% 43% 81% 41% 28%
Net assets, end of period (in thousands) $178,770 $156,110 $116,815 $48,264 $31,169
Ratios with no waiver of fees and assumption of expenses by
Amundi Pioneer formerly PIM and no reduction for fees
paid indirectly:
Total expenses to average net assets 1.24% 1.21% 1.21% 1.32% 1.35%
Net investment income (loss) to average net assets 2.21% 2.22% 2.32% 3.05% 3.26%
=================================================================================================================================
* 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.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
Pioneer Bond Fund | Annual Report | 6/30/17 103
Financial Highlights (continued)
---------------------------------------------------------------------------------------------------------------------------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
6/30/17 6/30/16** 6/30/15** 6/30/14** 6/30/13
---------------------------------------------------------------------------------------------------------------------------------
Class Y
Net asset value, beginning of period $ 9.67 $ 9.59 $ 9.79 $ 9.58 $ 9.65
---------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:
Net investment income (loss) $ 0.28(a) $ 0.27(a) $ 0.30 $ 0.36 $ 0.39
Net realized and unrealized gain (loss) on investments (0.02) 0.12 (0.15) 0.24 (0.07)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) from investment operations $ 0.26 $ 0.39 $ 0.15 $ 0.60 $ 0.32
---------------------------------------------------------------------------------------------------------------------------------
Distribution to shareowners:
Net investment income $ (0.31) $ (0.29) $ (0.31) $ (0.39) $ (0.39)
Net realized gain -- (0.02) (0.04) -- --
---------------------------------------------------------------------------------------------------------------------------------
Total distributions $ (0.31) $ (0.31) $ (0.35) $ (0.39) $ (0.39)
---------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value $ (0.05) $ 0.08 $ (0.20) $ 0.21 $ (0.07)
---------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 9.62 $ 9.67 $ 9.59 $ 9.79 $ 9.58
=================================================================================================================================
Total return* 2.76% 4.22% 1.59% 6.41% 3.34%
Ratio of net expenses to average net assets 0.58% 0.58% 0.58% 0.66% 0.66%
Ratio of net investment income (loss) to average net assets 2.87% 2.85% 2.95% 3.72% 3.97%
Portfolio turnover rate 44% 43% 81% 41% 28%
Net assets, end of period (in thousands) $2,558,262 $2,136,681 $1,644,161 $871,801 $916,182
Ratios with no waiver of fees and assumption of expenses by
Amundi Pioneer formerly PIM and no reduction for fees
paid indirectly:
Total expenses to average net assets 0.59% 0.59% 0.58% 0.66% 0.66%
Net investment income (loss) to average net assets 2.86% 2.84% 2.95% 3.72% 3.97%
=================================================================================================================================
* 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.
** Beginning with the fiscal year ended June 30, 2017, the Fund was audited by
Ernst & Young LLP. The previous year was audited by another independent
registered public accounting firm.
(a) The per share data presented above is based on the average shares
outstanding for the period presented.
The accompanying notes are an integral part of these financial statements.
104 Pioneer Bond Fund | Annual Report | 6/30/17
Notes to Financial Statements | 6/30/17
1. Organization and Significant Accounting Policies
Pioneer Bond Fund (the Fund) is a Delaware statutory trust. The Fund is
registered under the Investment Company Act of 1940 as a diversified, open-end
management investment company. The investment objective of the Fund is to seek
current income consistent with preservation of capital.
The Fund offers five classes of shares designated as Class A, Class C, Class K,
Class R and Class Y shares. Class Z shares were converted to Class Y shares on
August 7, 2015. Each class of shares represents an interest in the same
portfolio of investments of the Fund and has identical rights (based on relative
net asset values) to assets and liquidation proceeds. Share classes can bear
different rates of class-specific fees and expenses such as transfer agent and
distribution fees. Differences in class-specific fees and expenses will result
in differences in net investment income and, therefore, the payment of different
dividends from net investment income earned by each class. The Amended and
Restated Declaration of Trust of the Fund gives the Board of Trustees the
flexibility to specify either per-share voting or dollar-weighted voting when
submitting matters for shareholder approval. Under per-share voting, each share
of a class of the Fund is entitled to one vote. Under dollar-weighted voting, a
shareholder's voting power is determined not by the number of shares owned, but
by the dollar value of the shares on the record date. Each share class has
exclusive voting rights with respect to matters affecting only that class,
including with respect to the distribution plan for that class. There is no
distribution plan for Class K or Class Y shares.
On July 3, 2017, Amundi acquired Pioneer Investments, a group of asset
management companies located throughout the world. Amundi, one of the world's
largest asset managers, is headquartered in Paris, France. As a result of the
transaction, Pioneer Investment Management, Inc., the Fund's investment adviser,
became an indirect wholly owned subsidiary of Amundi and Amundi's wholly owned
subsidiary, Amundi USA, Inc. Prior to July 3, 2017, Pioneer Investments was
owned by Pioneer Global Asset Management S.p.A., a wholly owned subsidiary of
UniCredit S.p.A.
In connection with the transaction, the names of the Fund's investment adviser
and principal underwriter changed. Effective July 3, 2017, the name of Pioneer
Investment Management, Inc. changed to Amundi Pioneer Asset Management, Inc. and
the name of Pioneer Funds Distributor, Inc. changed to Amundi Pioneer
Distributor, Inc.
In October 2016, the Securities and Exchange Commission (SEC) released its Final
Rule on Investment Company Reporting Modernization. In addition to introducing
two new regulatory reporting forms (Form N-PORT and Form N-CEN), the Final
Pioneer Bond Fund | Annual Report | 6/30/17 105
Rule amends Regulation S-X, which impacts financial statement presentation,
particularly related to the presentation of derivative investments. Financial
statements filed with the SEC on or after August 1, 2017 are required to be in
compliance with the amendments to Regulation S-X. Although still evaluating the
impact of these amendments, management expects the Fund's adoption to be limited
to additional financial statement disclosures.
The Fund's financial statements have been prepared in conformity with U.S.
generally accepted accounting principles (U.S. GAAP) that require the management
of the Fund to make estimates and assumptions that affect the reported amounts
of assets and liabilities, the disclosure of contingent assets and liabilities
at the date of the financial statements, and the reported amounts of income,
expenses and gains and losses on investments during the reporting period. Actual
results could differ from those estimates.
The Fund is an investment company and follows investment company accounting and
reporting guidance under U.S. GAAP. The following is a summary of 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
106 Pioneer Bond Fund | Annual Report | 6/30/17
alternative loan interest pricing service. If no reliable price quotes are
available from either the primary or alternative pricing service, broker
quotes will be solicited.
Event-linked bonds or catastrophe bonds are valued at the bid price
obtained from an independent third party pricing service. Other insurance
linked securities (including sidecars, collateralized reinsurance and
industry loss warranties) may be valued at the bid price obtained from an
independent pricing service, or through a third party using a pricing
matrix, insurance industry valuation models, or other fair value methods or
techniques to provide an estimated value of the instrument.
Equity securities that have traded on an exchange are valued by using the
last sale price on the principal exchange where they are traded. Equity
securities that have not traded on the date of valuation, or securities for
which sale prices are not available, generally are valued using the mean
between the last bid and asked prices or, if both last bid and asked prices
are not available, at the last quoted bid price. Last sale and bid and
asked prices are provided by independent third party pricing services. In
the case of equity securities not traded on an exchange, prices are
typically determined by independent third party pricing services using a
variety of techniques and methods.
Over the counter swap contracts, including interest rate swaps, caps and
floors (other than centrally cleared swap contracts) are valued at the
dealer quotations obtained from reputable International Swap Dealer
Association members. Centrally cleared swaps are valued at the daily
settlement price provided by the central clearing counterparty.
Futures contracts are generally valued at the closing settlement price
established by the exchange on which they are traded.
Repurchase agreements are valued at par. Cash may include overnight time
deposits at approved financial institutions.
Securities or loan interests for which independent pricing services 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 Amundi Pioneer Asset Management, Inc. (Amundi Pioneer),
formerly Pioneer Investment Management, Inc. (PIM), the Fund's investment
adviser, pursuant to procedures adopted by the Fund's Board of Trustees.
Amundi Pioneer's formerly PIM's, fair valuation team uses fair value
methods approved by the Valuation Committee of the Board of Trustees.
Amundi Pioneer's formerly PIM's, fair valuation team is responsible for
monitoring developments that may impact fair valued securities and for
discussing and assessing fair values on an ongoing basis, and at least
quarterly, with the Valuation Committee of the Board of Trustees.
Pioneer Bond Fund | Annual Report | 6/30/17 107
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, 2017, one security was valued using fair value methods (in
addition to securities valued using prices supplied by independent pricing
services, broker-dealers or using a third party insurance industry pricing
model) representing less than 0.1% of net assets.
B. Investment Income and Transactions
Principal amounts of mortgage-backed securities, asset-backed securities
and corporate bonds are adjusted for monthly paydowns. Premiums and
discounts related to certain mortgage-backed securities are amortized or
accreted in proportion to the monthly paydowns. All discounts/premiums on
purchase prices of debt securities are accreted/amortized for financial
reporting purposes over the life of the respective securities, and such
accretion/amortization is included in interest income.
Dividend income is recorded on the ex-dividend date, except that certain
dividends from foreign securities where the ex-dividend date may have
passed are recorded as soon as the Fund becomes aware of the ex-dividend
data in the exercise of reasonable diligence. Interest income, including
interest on income bearing cash accounts, is recorded on the accrual basis.
Dividend and interest income are reported net of unrecoverable foreign
taxes withheld at the applicable country rates.
Security transactions are recorded as of trade date. Gains and losses on
sales of investments are calculated on the identified cost method for both
financial reporting and federal income tax purposes.
C. Federal Income Taxes
It is the Fund's policy to comply with the requirements of the Internal
Revenue Code applicable to regulated investment companies and to distribute
all of its net taxable income and net realized capital gains, if any, to
its shareowners. Therefore, no provision for federal income taxes is
required. As of June 30, 2017, the Fund did not accrue any interest or
penalties with respect to uncertain tax positions, which, if applicable,
would be recorded as
108 Pioneer Bond Fund | Annual Report | 6/30/17
an income tax expense in the Statement of Operations. Tax returns filed
within the prior three years remain subject to examination by Federal and
State tax authorities.
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 overdistributions for financial
statement purposes resulting from differences in the recognition or
classification of income or distributions for financial statement and tax
purposes. Capital accounts within the financial statements are adjusted for
permanent book/tax differences to reflect tax character, but are not
adjusted for temporary differences. At June 30, 2017, the Fund reclassified
$13,817,391 to increase undistributed net investment income and $13,817,391
to increase accumulated net realized loss on investments, swap contracts
and futures contracts to reflect permanent book/tax differences. These
adjustments have no impact on net assets or the results of operations.
During the year ended June 30, 2017, a capital loss carryforward of
$36,810,599 was utilized to offset net realized gains by the Fund.
At June 30, 2017, the Fund was permitted to carry forward indefinitely
$3,027,137 of short-term losses and $7,257,496 in long-term losses under
the Regulated Investment Company Modernization Act of 2010 without
limitation.
Included in these amounts are $911,824 of short-term losses and $6,019,010
of long-term losses which, as a result of the reorganization with Pioneer
Government Income Fund on March 18, 2016 may be subject to limitations
imposed by the Internal Revenue Code. Since unlimited losses are required
to be used first, loss carryforwards that are subject to expiration may be
more likely to expire unused.
The tax character of distributions paid during the years ended June 30,
2017 and June 30, 2016 were as follows:
---------------------------------------------------------------------------
2017 2016
---------------------------------------------------------------------------
Distributions paid from:
Ordinary income $132,660,990 $101,613,304
Long-term capital gain -- 7,319,392
---------------------------------------------------------------------------
Total $132,660,990 $108,932,696
===========================================================================
Pioneer Bond Fund | Annual Report | 6/30/17 109
The following shows the components of distributable earnings on a federal
income tax basis at June 30, 2017:
----------------------------------------------------------------------------
2017
----------------------------------------------------------------------------
Distributable earnings:
Undistributed ordinary income $10,166,400
Capital Loss Carryforward (6,870,781)
Capital Loss Carryforward Limited (3,413,852)
Current year dividends payable (2,189,906)
Net unrealized appreciation 30,101,029
----------------------------------------------------------------------------
Total $27,792,890
============================================================================
The difference between book-basis and tax-basis net unrealized appreciation
is attributable to the tax deferral of losses on wash sales, adjustments
relating to catastrophe bonds, the tax treatment of premium and
amortization and the mark-to-market of futures contracts.
D. Fund Shares
The Fund records sales and repurchases of its shares as of trade date.
Amundi Pioneer Distributor, Inc., formerly Pioneer Funds Distributor, Inc.
(PFD), the principal underwriter for the Fund, earned $63,843 in
underwriting commissions on the sale of Class A shares during the year
ended June 30, 2017.
E. Class Allocations
Income, common expenses, and realized and unrealized gains and losses are
calculated at the Fund level and allocated daily to each class of shares
based on its respective percentage of adjusted net assets at the beginning
of the day.
Distribution fees are calculated based on the average daily net asset value
attributable to Class A, Class C, and Class R shares of the Fund,
respectively (see Note 4). Class K and Class Y shares do not pay
distribution fees. All expenses and fees paid to the Fund's transfer agent,
for its services are allocated among the classes of shares based on the
number of accounts in each class and the ratable allocation of related
out-of-pocket expenses (see Note 3).
The Fund declares as daily dividends substantially all of its net
investment income. All dividends are paid on a monthly basis. Short-term
capital gain distributions, if any, may be declared with the daily
dividends. Distributions to shareowners are recorded as of the ex-dividend
date. Distributions paid by the Fund with respect to each class of shares
are calculated in the same manner and at the same time, except that net
investment income dividends to Class A, Class C, Class K, Class R and Class
Y shares can reflect different transfer agent and distribution expense
rates.
110 Pioneer Bond Fund | Annual Report | 6/30/17
F. Insurance-Linked Securities (ILS)
The Fund invests in event-linked bonds. Event-linked bonds are floating
rate debt obligations for which the return of principal and the payment of
interest are contingent on the non-occurrence of a pre-defined "trigger"
event, such as a hurricane or an earthquake of a specific magnitude. The
trigger event's magnitude may be based on losses to a company or industry,
industry indexes or readings of scientific instruments, or may be based on
specified actual losses. If a trigger event, as defined within the terms of
an event-linked bond occurs, the Fund may lose a portion or all of its
accrued interest and/or principal invested in such event-linked bond. The
Fund is entitled to receive principal and interest payments so long as no
trigger event occurs of the description and magnitude specified by the
instrument. In addition to the specified trigger events, event-linked bonds
may expose the Fund to other risks, including but not limited to issuer
(credit) default, adverse regulatory or jurisdictional interpretations and
adverse tax consequences.
The Fund's investments in ILS may include special purpose vehicles ("SPVs")
or similar instruments structured to comprise a portion of a reinsurer's
catastrophe-oriented business, known as quota share instruments (sometimes
referred to as reinsurance sidecars), or to provide reinsurance relating to
specific risks to insurance or reinsurance companies through a
collateralized instrument, known as collateralized reinsurance. Structured
reinsurance investments also may include industry loss warranties ("ILWs").
A traditional ILW takes the form of a bilateral reinsurance contract, but
there are also products that take the form of derivatives, collateralized
structures, or exchange traded instruments.
Structured reinsurance investments, including quota share instruments,
collateralized reinsurance investments and ILWs, generally are subject to
the same risks as event-linked bonds. In addition, where the instruments
are based on the performance of underlying reinsurance contracts, the Fund
has limited transparency into the individual underlying contracts and
therefore must rely upon the risk assessment and sound underwriting
practices of the issuer. Accordingly, it may be more difficult for PIM to
fully evaluate the underlying risk profile of the Fund's structured
reinsurance investments and therefore the Fund's assets are placed at
greater risk of loss than if PIM had more complete information. Structured
reinsurance instruments generally will be considered illiquid securities by
the Fund. These securities may be difficult to purchase, sell or unwind.
Illiquid securities also may be difficult to value. If the Fund is forced
to sell an illiquid asset, the Fund may be forced to sell at a loss.
Pioneer Bond Fund | Annual Report | 6/30/17 111
G. Risks
Interest rates in the U.S. recently have been historically low, so the Fund
faces a heightened risk that interest rates may rise. A general rise in
interest rates may cause investors to move out of fixed income securities
on a large scale, which could adversely affect the price and liquidity of
fixed income securities and could also result in increased redemptions from
the Fund.
At times, the Fund's investments may represent industries or industry
sectors that are interrelated or have common risks, making the Fund more
susceptible to any economic, political, or regulatory developments or other
risks affecting those industries and sectors. The Fund's prospectus
contains unaudited information regarding the Fund's principal risks. Please
refer to that document when considering the Fund's principal risks.
H. Futures Contracts
The Fund may enter into futures transactions in order to attempt to hedge
against changes in interest rates, securities prices and currency exchange
rates or to seek to increase total return. Futures contracts are types of
derivatives. All futures contracts entered into by the Fund are traded on a
futures exchange. Upon entering into a futures contract, the Fund is
required to deposit with a broker an amount of cash or securities equal to
the minimum "initial margin" requirements of the associated futures
exchange. The amount of cash deposited with the broker as collateral at
June 30, 2017 was $4,400,450 and is included in "Restricted Cash" in the
Statement of Assets and Liabilities. Subsequent payments for futures
contracts ("variation margin") are paid or received by the Fund, depending
on the daily fluctuation in the value of the contracts, and are recorded by
the Fund as unrealized appreciation or depreciation. When the contract is
closed, the Fund realizes a gain or loss equal to the difference between
the opening and closing value of the contract as well as any fluctuation in
foreign currency exchange rates where applicable. The use of futures
contracts are subject to market risk, interest rate risk and currency
exchange rate risk. Changes in value of the contracts may not directly
correlate to the changes in value of the underlying securities. The average
value of contracts open during the year ended June 30, 2017 was
$(514,754,217).
112 Pioneer Bond Fund | Annual Report | 6/30/17
At June 30, 2017, open futures contracts were as follows:
----------------------------------------------------------------------------------------------
Number of
Contracts Unrealized
Long/ Settlement Appreciation/
Description Counterparty (Short) Month Value (Depreciation)
----------------------------------------------------------------------------------------------
U.S. Long Bond (CBOT) Citibank NA 599 9/17 $ 92,058,813 $ 809,496
U.S. Ultra Bond (CBOT) Citibank NA 576 9/17 95,544,000 1,717,508
U.S. 10 Year Ultra
Bond (CBOT) Citibank NA 173 9/17 23,322,563 (162,149)
U.S. 10 Year Note (CBOT) Citibank NA (6,171) 9/17 (774,653,345) 533,150
U.S. 2 Year Note (CBOT) Citibank NA 845 9/17 182,612,423 (133,958)
U.S. 5 Year Note (CBOT) Citibank NA (420) 9/17 (49,491,094) 86,264
----------------------------------------------------------------------------------------------
Total $(430,606,640) $ 2,850,311
==============================================================================================
CBOT Chicago Board of Trade
I. Repurchase Agreements
Repurchase agreements are arrangements under which the Fund purchases
securities from a broker-dealer or a bank, called the counterparty, upon
the agreement of the counterparty to repurchase the securities from the
Fund at a later date, and at a specific price, which is typically higher
than the purchase price paid by the Fund. The securities purchased serve as
the Fund's collateral for the obligation of the counterparty to repurchase
the securities. The value of the collateral, including accrued interest, is
required to be equal to or in excess of the repurchase price. The
collateral for all repurchase agreements is held in safekeeping in the
customer-only account of the Fund's custodian or a subcustodian of the
Fund. Amundi Pioneer, formerly PIM is responsible for determining that the
value of the collateral remains at least equal to the repurchase price. In
the event of a default by the counterparty, the Fund is entitled to sell
the securities, but the Fund may not be able to sell them for the price at
which they were purchased, thus causing a loss to the Fund. Additionally,
if the counterparty becomes insolvent, there is some risk that the Fund
will not have a right to the securities, or the immediate right to sell the
securities. Open repurchase agreements at June 30, 2017 are listed at the
end of the Schedule of Investments.
J. Credit Default Swap Agreements
A credit default swap is a contract between a buyer of protection and a
seller of protection against a pre-defined credit event on an underlying
reference obligation, which may be a single security or a basket or index
of securities. The Fund may sell or buy credit default swap contracts to
seek to increase the Fund's income, or to attempt to hedge the risk of
default on portfolio securities. A credit default swap index is used to
hedge risk or take a position on a basket of credit entities or indices. As
a seller of protection, the Fund would be required to pay the notional (or
other agreed-upon) value of the referenced debt obligation to the
counterparty in the event of a default by a
Pioneer Bond Fund | Annual Report | 6/30/17 113
U.S. or foreign corporate issuer of a debt obligation, which would likely
result in a loss to the Fund. In return, the Fund would receive from the
counterparty a periodic stream of payments during the term of the contract
provided that no event of default occurred. The maximum exposure of loss to
the seller would be the notional value of the credit default swaps
outstanding. If no default occurs, the Fund would keep the stream of
payments and would have no payment obligation. The Fund may also buy credit
default swap contracts in order to hedge against the risk of default of
debt securities, in which case the Fund would function as the counterparty
referenced above.
When the Fund enters into a credit default swap contract, the protection
buyer makes an upfront or periodic payment to the protection seller in
exchange for the right to receive a contingent payment. An upfront payment
made by the Fund, as the protection buyer, is recorded as an asset in the
Statement of Assets and Liabilities. Periodic payments received or paid by
the Fund are recorded as realized gains or losses in the Statement of
Operations.
Credit default swap contracts are marked-to-market daily using valuations
supplied by independent sources and the change in value, if any, is
recorded as unrealized appreciation or depreciation in the Statement of
Assets and Liabilities. Payments received or made as a result of a credit
event or upon termination of the contract are recognized, net of the
appropriate amount of the upfront payment, as realized gains or losses in
the Statement of Operations.
Credit default swap contracts involving the sale of protection may involve
greater risks than if the Fund had invested in the referenced debt
instrument directly. Credit default swap contracts are subject to general
market risk, liquidity risk, counterparty risk and credit risk. If the Fund
is a protection buyer and no credit event occurs, it will lose its
investment. If the Fund is a protection seller and a credit event occurs,
the value of the referenced debt instrument received by the Fund, together
with the periodic payments received, may be less than the amount the Fund
pays to the protection buyer, resulting in a loss to the Fund.
Certain swap contracts that are cleared through a central clearinghouse are
referred to as centrally cleared swaps. All payments made or received by
the Fund are pursuant to a centrally cleared swap contract with the central
clearing party rather than the original counterparty. Upon entering into a
centrally cleared swap contract, the Fund is required to make an initial
margin deposit, either in cash or in securities. The daily change in value
on open centrally cleared contracts is recorded as variation margin on
centrally cleared swaps on the Statement of Assets and Liabilities.
The amount of cash deposited with a broker as collateral at June 30, 2017
was $1,760,949 and is recorded within "Restricted Cash" on the Statement of
Assets and Liabilities.
114 Pioneer Bond Fund | Annual Report | 6/30/17
Open credit default swap contracts at June 30, 2017 are listed at the end
of Schedule of Investments. The average value of swap contracts open during
the year ended June 30, 2017 was $(709,541).
2. Management Agreement
Amundi Pioneer, formerly PIM manages the Fund's portfolio. Management fees are
calculated daily at the annual rate of 0.40% of the Fund's average daily net
assets. For the year ended June 30, 2017, the effective management fee
(excluding waivers and/or assumption of expenses) was equal to 0.40% of the
Fund's average daily net assets.
Amundi Pioneer, formerly PIM has contractually agreed to limit ordinary
operating expenses to the extent required to reduce Fund expenses to 0.85%,
1.10%, and 0.58% of the average daily net assets attributable to Class A, Class
R and Class Y shares, respectively. Fees waived and expenses reimbursed during
the year ended June 30, 2017 are reflected on the Statement of Operations. These
expense limitations are in effect through November 1, 2019. There can be no
assurance that Amundi Pioneer, formerly PIM will extend the expense limitation
agreement for a class of shares beyond the dates referred to above.
In addition, under the management and administration agreements, certain other
services and costs, including accounting, regulatory reporting, and insurance
premiums, are paid by the Fund as administrative reimbursements. Included in
"Due to affiliates" reflected on the Statement of Assets and Liabilities is
$542,314 in management fees, administrative costs and certain other
reimbursements payable to Amundi Pioneer, formerly PIM at June 30, 2017.
3. Transfer Agent
Boston Financial Data Services 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 shareholder communications activities
such as proxy and statement mailings, outgoing phone calls and omnibus
relationship contracts. For the year ended June 30, 2017, such out-of-pocket
expenses by class of shares were as follows:
Pioneer Bond Fund | Annual Report | 6/30/17 115
--------------------------------------------------------------------------------
Shareholder Communications:
--------------------------------------------------------------------------------
Class A $104,626
Class C 7,039
Class K 3,622
Class R 68
Class Y 74,199
--------------------------------------------------------------------------------
Total $189,554
================================================================================
4. Distribution and Service Plans
The Fund has adopted a Distribution Plan pursuant to Rule 12b-1 of the
Investment Company Act of 1940 with respect to its Class A, Class C and Class R
shares. Pursuant to the Plan, the Fund pays Amundi Pioneer Distributor, Inc.,
formerly PFD, 0.25% of the average daily net assets attributable to Class A
shares as compensation for personal services and/or account maintenance services
or distribution services with regard to Class A shares. Pursuant to the Plan,
the Fund also pays Amundi Pioneer Distributor, Inc., formerly PFD 1.00% of the
average daily net assets attributable to Class C shares. The fee for Class C
shares consists of a 0.25% service fee and a 0.75% distribution fee paid as
compensation for personal services and/or account maintenance services or
distribution services with regard to Class C shares. Pursuant to the Plan, the
Fund further pays Amundi Pioneer Distributor, Inc., formerly PFD 0.50% of the
average daily net assets attributable to Class R shares for distribution
services. Included in "Due to affiliates" reflected on the Statement of Assets
and Liabilities is $131,287 in distribution fees payable to Amundi Pioneer
Distributor, Inc., formerly PFD at June 30, 2017.
The Fund also has adopted a separate service plan for Class R shares (Service
Plan). The Service Plan authorizes the Fund to pay securities dealers, plan
administrators or other service organizations that agree to provide certain
services to retirement plans or plan participants holding shares of the Fund a
service fee of up to 0.25% of the Fund's average daily net assets attributable
to Class R shares held by such plans.
In addition, redemptions of each class of shares (except Class K, Class R and
Class Y shares) may be subject to a contingent deferred sales charge (CDSC). A
CDSC of 1.00% may be imposed on redemptions of certain net asset value purchases
of Class A shares within 12 months of purchase. Redemptions of Class C shares
within 12 months of purchase are subject to a CDSC of 1.00%, based on the lower
of cost or market value of shares being redeemed. Shares purchased as part of an
exchange remain subject to any CDSC that applied to the original purchase of
those shares. There is no CDSC for Class R or Class Y shares. Proceeds from the
CDSC are paid to Amundi Pioneer Distributor, Inc., formerly PFD. For the year
ended June 30, 2017, CDSC in the amount of $14,907 were paid to Amundi Pioneer
Distributor, Inc., formerly PFD.
116 Pioneer Bond Fund | Annual Report | 6/30/17
5. Line of Credit Facility
The Fund, along with certain other funds in the Pioneer Family of Funds (the
Funds), participates in a committed, unsecured revolving line of credit
facility. Borrowings are used solely for temporary or emergency purposes. The
Fund may borrow up to the lesser of the amount available under the facility or
the limits set for borrowing by the Fund's prospectus and the 1940 Act. The
credit facility in which the Fund participated until February 9, 2016 was in the
amount of $240 million. The credit facility in which the fund participated until
February 7, 2017 was in the amount of $220 million. Effective February 8, 2017,
the Fund participated in a facility that is in the amount of $195 million. Under
such facility, depending on the type of loan, interest on borrowings is payable
at the London Interbank Offered Rate (LIBOR) plus 0.85% on an annualized basis,
or the Alternate Base Rate, which is the greater of (a) the facility's
administrative agent's daily announced prime rate on the borrowing date, (b) 2%
plus the Federal Funds Rate on the borrowing date and (c) 2% plus the overnight
Eurodollar rate on the borrowing date. The Funds pay an annual commitment fee to
participate in 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, 2017, the Fund had no borrowings under
the credit facility.
6. Assets and Liabilities Offsetting
The Fund has entered into an International Swaps and Derivatives Association,
Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with
substantially all its derivative counterparties. An ISDA Master Agreement is a
bilateral agreement between the Fund and a counterparty that governs the trading
of certain 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 a specific ISDA counterparty is subject.
Pioneer Bond Fund | Annual Report | 6/30/17 117
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 in the Statement of Assets and Liabilities as "Restricted
cash". Securities pledged by the Fund as collateral, if any, are identified as
such in the Schedule of Investments.
Financial instruments subject to an enforceable master netting agreement such as
an ISDA Master Agreement have been offset on the Statement of Assets and
Liabilities, with the exception of forward foreign currency contracts, which are
shown on a gross basis. The following charts show gross assets and liabilities
of the Fund as of June 30, 2017.
------------------------------------------------------------------------------------------------
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)
------------------------------------------------------------------------------------------------
JP Morgan $74,007 $-- $-- $-- $74,007
------------------------------------------------------------------------------------------------
Total $74,007 $-- $-- $-- $74,007
================================================================================================
------------------------------------------------------------------------------------------------
Derivative Liabilities Derivatives Non-Cash Cash Net Amount
Subject to Master Available for Collateral Collateral of Derivative
Counterparty Netting Agreement Offset Pledged (a) Pledged (a) Liabilities (c)
------------------------------------------------------------------------------------------------
JP Morgan $-- $-- $-- $-- $--
------------------------------------------------------------------------------------------------
Total $-- $-- $-- $-- $--
================================================================================================
(a) The amount presented here may be less than the total amount of collateral
received/pledged, as the net amount of derivative assets and liabilities
cannot be less than $0.
(b) Represents the net amount due from the counterparty in the event of
default.
(c) Represents the net amount payable to the counterparty in the event of
default.
7. Additional Disclosures about Derivative Instruments and Hedging Activities:
The Fund's use of derivatives subjects it to the following risks:
Interest rate risk relates to the fluctuations in the value of interest-bearing
securities due to changes in the prevailing levels of market interest rates.
Credit risk relates to the ability of the issuer of a financial instrument to
make further principal or interest payments on an obligation or commitment that
it has to the Fund.
118 Pioneer Bond Fund | Annual Report | 6/30/17
Foreign exchange rate risk relates to fluctuations in the value of an asset or
liability due to changes in currency exchange rates.
Equity risk relates to the fluctuations in the value of financial instruments as
a result of changes in market prices (other than those arising from interest
rate risk or foreign exchange risk), whether caused by factors specific to an
individual investment, its issuer, or all factors affecting all instruments
traded in a market or market segment.
Commodity risk relates to the risk that the value of a commodity or commodity
index will fluctuate based on increases or decreases in the commodities market
and factors specific to a particular industry or commodity.
The fair value of open derivative instruments (not considered to be hedging
instruments for accounting disclosure purposes) by risk exposure at June 30,
2017 was as follows:
-----------------------------------------------------------------------------------------
Foreign
Statement of Assets Interest Credit Exchange Equity Commodity
and Liabilities Rate Risk Risk Rate Risk Risk Risk
-----------------------------------------------------------------------------------------
Assets
Unrealized appreciation
on futures contracts* $3,146,419 $ -- $ -- $ -- $ --
Unrealized appreciation
on swap contracts -- 89,159 -- -- --
-----------------------------------------------------------------------------------------
Total Value $3,146,419 $ 89,159 $ -- $ -- $ --
=========================================================================================
Liabilities
Unrealized depreciation
on futures contracts* $ 296,108 $ -- $ -- $ -- $ --
-----------------------------------------------------------------------------------------
Total Value $ 296,108 $ -- $ -- $ -- $ --
=========================================================================================
* Reflects unrealized appreciation/depreciation of futures contracts (see
Note 1H). The current day's variation margin is disclosed on the Statement
of Assets and Liabilities.
The effect of derivative instruments (not considered to be hedging instruments
for accounting disclosure purposes) on the Statement of Operations by risk
exposure at June 30, 2017 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 $ 7,898,018 $ -- $ -- $ -- $ --
Swap contracts -- (376,713) -- -- --
------------------------------------------------------------------------------------------
Total Value $ 7,898,018 $(376,713) $ -- $ -- $ --
==========================================================================================
Change in net
unrealized appreciation
(depreciation) on
Futures contracts $20,153,109 $ -- $ -- $ -- $ --
Swap contracts -- 89,159 -- -- --
------------------------------------------------------------------------------------------
Total Value $20,153,109 $ 89,159 $ -- $ -- $ --
==========================================================================================
Pioneer Bond Fund | Annual Report | 6/30/17 119
8. Reorganization Information
On March 18, 2016 ("Closing Date"), Pioneer Government Income Fund (the
"predecessor fund") was reorganized into the Fund. The purpose of this
transaction was to combine two funds (managed by Amundi Pioner, formerly PIM)
with similar investment objectives.
This tax-free reorganization was accomplished by exchanging the assets and
liabilities of the predecessor fund for shares of the Fund. Shareowners holding
Class A, Class C and Class Y of the predecessor fund received Class A, Class C
and Class Y shares of the Fund, respectively, in the reorganization. The
investment portfolio of the predecessor fund, with an aggregate value of
$100,781,776 and an identified cost of $96,686,438 at March 18, 2016, was the
principal asset acquired by the Fund.
For financial reporting purposes, assets received and shares issued by the Fund
were recorded at net asset value, however, the cost basis of the investments
received from the predecessor fund was carried forward to align ongoing
reporting of the Fund's realized and unrealized gains and losses with amounts
distributable to shareowners for tax reporting purposes.
The following charts shows the details of the reorganization as of the Closing
Date:
-----------------------------------------------------------------------------------------------
Pioneer Government
Income Fund Pioneer Bond Fund Pioneer Bond Fund
(Pre-Reorganization) (Pre-Reorganization) (Post-Reorganization)
-----------------------------------------------------------------------------------------------
Net Assets
Class A $ 83,223,137 $1,052,667,521 $1,135,890,658
Class C 14,846,083 117,661,581 132,507,664
Class K -- 311,330,352 311,330,352
Class R -- 146,651,259 146,651,259
Class Y 5,219,995 1,927,283,548 1,932,503,543
-----------------------------------------------------------------------------------------------
Total Net Assets $103,289,215 $3,555,594,261 $3,658,883,476
-----------------------------------------------------------------------------------------------
Shares Outstanding
Class A 8,893,098 109,849,580 118,536,782
Class C 1,584,984 12,417,206 13,983,248
Class K -- 32,499,467 32,499,467
Class R -- 15,165,715 15,165,715
Class Y 558,355 203,011,669 203,561,722
--------------------------------------------------------------------------------------------
Shares issued
Exchange Ratio in reorganization
--------------------------------------------------------------------------------------------
Class A 0.9768 8,687,202
Class C 0.9880 1,566,042
Class Y 0.9851 550,053
-------------------------------------------------------------------------------------------------
Unrealized
Appreciation on Accumulated Gain
Closing Date (Loss) on Closing Date
-------------------------------------------------------------------------------------------------
Fund $11,796,814 $ 818,031
Predecessor Fund 4,095,338 (9,616,481)
120 Pioneer Bond Fund | Annual Report | 6/30/17
Assuming the Reorganization had been completed on July 1, 2015, the pro-forma
results of operations for the fiscal year ended June 30, 2016, were as follows:
Net Investment income (loss) $ 95,529,990
Net realized and unrealized gain (loss) 51,270,329
--------------------------------------------------------------------------------
Change in net assets resulting from operations $146,800,319
--------------------------------------------------------------------------------
Because the combined investment portfolios have been managed as a single
integrated portfolio since the reorganization was completed, it is not practical
to separate the amounts of revenue and earnings of the Fund that have been
included in the Statements of Operations since the Reorganization was
consummated.
9. Results of Shareholder Meeting
At a special meeting held on June 13, 2017, shareholders of the Fund were asked
to consider the proposals described below. A report of the total votes cast by
the Fund's shareholders follows:
--------------------------------------------------------------------------------------------
For Against Abstain Broker Non-Votes
--------------------------------------------------------------------------------------------
Proposal 1 - To approve 176,463,105.388 3,303,014.855 8,419,304.581 41,911,653.832
a New Management
Agreement with
the Adviser
---------------------------------------------------------------------------------------------
For Withhold
---------------------------------------------------------------------------------------------
Proposal 2 - To elect Trustees
---------------------------------------------------------------------------------------------
David R. Bock 219,918,842.080 10,178,236.576
---------------------------------------------------------------------------------------------
Benjamin M. Friedman 221,205,146.818 8,891,931.838
---------------------------------------------------------------------------------------------
Margaret B.W. Graham 221,466,338.552 8,630,740.104
---------------------------------------------------------------------------------------------
Lisa M. Jones 221,614,158.850 8,482,919.806
---------------------------------------------------------------------------------------------
Lorraine H. Monchak 221,623,949.919 8,473,128.737
---------------------------------------------------------------------------------------------
Thomas J. Perna 220,511,437.487 9,585,641.169
---------------------------------------------------------------------------------------------
Marguerite A. Piret 221,593,789.365 8,503,289.291
---------------------------------------------------------------------------------------------
Fred J. Ricciardi 221,476,848.042 8,620,230.614
---------------------------------------------------------------------------------------------
Kenneth J. Taubes 221,482,103.491 8,614,975.165
---------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------
For Against Abstain Broker Non-Votes
---------------------------------------------------------------------------------------------
Proposal 3 - To convert 132,388,077.580 44,465,093.788 11,332,235.426 41,911,671.862
investment objective(s)
from fundamental
to non-fundamental
Proposal 4 - To change 160,531,894.163 15,794,355.899 11,859,164.711 41,911,663.882
Pioneer Bond Fund's
investment objectives
Pioneer Bond Fund | Annual Report | 6/30/17 121
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and the Shareowners of
Pioneer Bond Fund:
--------------------------------------------------------------------------------
We have audited the accompanying statement of assets and liabilities of Pioneer
Bond Fund (the "Fund"), including the schedule of investments, as of June 30,
2017, and the related statements of operations, changes in net assets and the
financial highlights for the year then ended and the financial highlights for
the year ended June 30, 2013. These financial statements and financial
highlights are the responsibility of the Fund's management. Our responsibility
is to express an opinion on these financial statements and financial highlights
based on our audit. The statement of changes in net assets for the year ended
June 30, 2016 and the financial highlights for periods ended June 30, 2014, June
30, 2015 and June 30, 2016 were audited by another independent registered public
accounting firm whose report, dated August 25, 2016, expressed an unqualified
opinion on the statement of changes in net assets and those financial
highlights.
We conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial highlights are free of material misstatement. We were
not engaged to perform an audit of the Fund's internal control over financial
reporting. Our audit included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Fund's internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements and financial highlights, assessing the accounting principles used
and significant estimates made by management, and evaluating the overall
financial statement presentation. Our procedures included confirmation of
securities owned as of June 30, 2017, by correspondence with the custodian,
brokers and others or by other appropriate auditing procedures where replies
from brokers and others were not received. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
Pioneer Bond Fund at June 30, 2017, the results of its operations, the changes
in its net assets, and the financial highlights for the year then ended and the
financial highlights for the year ended June 30, 2013, in conformity with U.S.
generally accepted accounting principles.
/s/ Ernst & Young LLP
Boston, Massachusetts
August 25, 2017
122 Pioneer Bond Fund | Annual Report | 6/30/17
ADDITIONAL INFORMATION
Change in Independent Registered Public Accounting Firm
Prior to July 3, 2017 Pioneer Investment Management, Inc. (the "Adviser"), the
Fund's investment adviser, was an indirect, wholly owned subsidiary of UniCredit
S.p.A. ("UniCredit"). On that date, UniCredit completed the sale of its Pioneer
Investments business, which includes the Adviser, to Amundi (the "Transaction").
As a result of the Transaction, the Adviser became an indirect, wholly-owned
subsidiary of Amundi. Amundi is controlled by Credit Agricole S.A. Amundi is
headquartered in Paris, France, and, as of September 30, 2016, had more than
$1.1 trillion in assets under management worldwide.
Deloitte & Touche LLP ("D&T"), the Fund's previous independent registered public
accounting firm, informed the Audit Committee and the Board that it would no
longer be independent with respect to the Fund upon the completion of the
Transaction as a result of certain services being provided to Amundi and Credit
Agricole, and, accordingly, that it intended to resign as the Fund's independent
registered public accounting firm upon the completion of the Transaction. D&T's
resignation was effective on July 3, 2017, when the Transaction was completed.
During the periods as to which D&T has served as the Fund's independent
registered public accounting firm, including the Fund's two most recent fiscal
years preceding the fiscal year ended June 30, 2017, D&T's reports on the Fund's
financial statements have not contained an adverse opinion or disclaimer of
opinion and have not been qualified or modified as to uncertainty, audit scope
or accounting principles. Further, there have been no disagreements with D&T on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which, if not resolved to the
satisfaction of D&T, would have caused D&T to make reference to the subject
matter of the disagreement in connection with its report on the financial
statements. In addition, there have been no reportable events of the kind
described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange
Act of 1934.
Effective immediately following the completion of the Transaction on July 3,
2017, the Board, acting upon the recommendation of the Audit Committee, engaged
a new independent registered public accounting firm, Ernst & Young LLP ("EY"),
for the Fund's fiscal year ended June 30, 2017.
Pioneer Bond Fund | Annual Report | 6/30/17 123
Prior to its engagement, EY had advised the Fund's Audit Committee that EY had
identified the following matters, in each case relating to services rendered by
other member firms of Ernst & Young Global Limited, all of which are located
outside the United States, to UniCredit and certain of its subsidiaries during
the period commencing July 1, 2016, that it determined to be inconsistent with
the auditor independence rules set forth by the Securities and Exchange
Commission ("SEC"): (a) project management support services to UniCredit in the
Czech Republic, Germany, Italy, Serbia and Slovenia in relation to twenty-two
projects, that were determined to be inconsistent with Rule 2-01(c)(4)(vi) of
Regulation S-X (management functions); (b) two engagements for UniCredit in
Italy where fees were contingent/success based and that were determined to be
inconsistent with Rule 2-01(c)(5) of Regulation S-X (contingent fees); (c) four
engagements where legal and expert services were provided to UniCredit in the
Czech Republic and Germany, and twenty engagements where the legal advisory
services were provided to UniCredit in Austria, Czech Republic, Italy and
Poland, that were determined to be inconsistent with Rule 2-01(c)(4)(ix) and (x)
of Regulation S-X (legal and expert services); and (d) two engagements for
UniCredit in Italy involving assistance in the sale of certain assets, that were
determined to be inconsistent with Rule 2-01(c)(4)(viii) of Regulation S-X
(broker-dealer, investment advisor or investment banking services). None of the
foregoing services involved the Fund, any of the other Funds in the Pioneer
Family of Funds or any other Pioneer entity sold by UniCredit in the
Transaction.
EY advised the Audit Committee that it had considered the matters described
above and had concluded that such matters would not impair EY's ability to
exercise objective and impartial judgment in connection with the audits of the
financial statements of the Fund under the SEC and Public Company Accounting
Oversight Board independence rules, and that a reasonable investor with
knowledge of all relevant facts and circumstances would reach the same
conclusion. Management and the Audit Committee considered these matters and
discussed the matters with EY and, based upon EY's description of the matters
and statements made by EY, Management and the Audit Committee believe that EY
will be capable of exercising objective and impartial judgment in connection
with the audits of the financial statements of the Fund, and Management further
believes that a reasonable investor with knowledge of all relevant facts and
circumstances would reach the same conclusion.
The percentages of the Fund's ordinary income distributions that are exempt from
nonresident alien (NRA) tax withholding resulting from qualified interest income
was 79.80%.
124 Pioneer Bond Fund | Annual Report | 6/30/17
Approval of New and Interim Management Agreements
Amundi Pioneer Asset Management, Inc. (Amundi Pioneer), formerly Pioneer
Investment Management, Inc. (PIM), serves as the investment adviser to Pioneer
Bond Fund (the Fund) pursuant to an investment management agreement between
Amundi Pioneer and the Fund.
On July 3, 2017, Amundi acquired Pioneer Investments, a group of asset
management companies located throughout the world (the "Transaction"). As a
result of the Transaction, Amundi Pioneer became an indirect wholly-owned
subsidiary of Amundi and Amundi's wholly-owned subsidiary, Amundi USA, Inc.
Prior to July 3, 2017, Pioneer Investments was owned by Pioneer Global Asset
Management S.p.A. ("PGAM"), a wholly-owned subsidiary of UniCredit S.p.A.
("UniCredit").
Under the Investment Company Act of 1940, the Fund's investment management
agreement with PIM (the "Current Management Agreement") terminated automatically
upon the consummation of the Transaction. In order for Amundi Pioneer to
continue to manage the Fund after the consummation of the Transaction, the
Trustees and shareholders of the Fund were required to approve a new investment
management agreement for the Fund (the "New Management Agreement"). As discussed
below, the Board of Trustees of the Fund approved the New Management Agreement
at a meeting held on March 6-7, 2017. The New Management Agreement was approved
by the shareholders of the Fund at a meeting held on June 13, 2017. The Board of
Trustees of the Fund also approved an interim investment management agreement
between Amundi Pioneer and the Fund (the "Interim Management Agreement") at the
March 6-7, 2017 meeting. The Interim Management Agreement would have taken
effect upon the closing of the Transaction in the event that the shareholders of
the Fund did not approve the New Management Agreement.
Board Evaluation of the New and Interim Management Agreements
The Board evaluated the Transaction and the New Management Agreement and Interim
Management Agreement for the Fund. In connection with their evaluation of the
Transaction and the New Management Agreement for the Fund, the Trustees
requested such information as they deemed reasonably necessary, including: (a)
the structure of the Transaction and the strategy underlying the Transaction;
(b) the anticipated benefits of the Transaction to the Fund and its
shareholders; (c) the post-Transaction plans for Amundi Pioneer, including
Amundi's plans for integration of Pioneer Investments and Amundi Pioneer with
its existing asset management businesses and plans for the future development of
Amundi Pioneer; (d) the effect of the Transaction on the ongoing services
provided to the Fund, including the need to select a new independent registered
public accounting firm for the Fund, and any plans to modify the operations of
Pioneer Bond Fund | Annual Report | 6/30/17 125
the Fund; (e) the stability and continuity of Amundi Pioneer's management and
key employees, including compensation and benefits to Amundi Pioneer's key
employees, and retention plans and incentive plan structure; (f) the post-
Transaction indebtedness and financial resources of Amundi Pioneer; (g) Amundi's
legal and operational structure, its principal shareholders and senior
management, its investment management, risk management, administrative, legal
and compliance functions; (h) certain regulatory matters relating to Amundi's
affiliates; and (i) Amundi's commitment to the United States, including the role
of Amundi Pioneer in the larger Amundi business.
The Trustees also requested and obtained the following information in connection
with their evaluation of the Transaction and the New Management Agreement for
the Fund: (i) memoranda provided by Fund counsel that summarized the legal
standards and other considerations that are relevant to the Trustees in their
deliberations regarding the New Management Agreement; (ii) the qualifications of
the investment management teams for the Fund, as well as the level of investment
by the Fund's portfolio managers in the Fund; (iii) the Fund's management fees
and total expense ratios, the financial statements of Amundi Pioneer and its
pre- and post-Transaction parent companies, profitability analyses from Amundi
Pioneer, and analyses from Amundi Pioneer as to possible economies of scale;
(iv) the profitability of the institutional business of Amundi Pioneer and
Amundi Pioneer's affiliate, Amundi Pioneer Institutional Asset Management, Inc.
("Amundi Pioneer Institutional") as compared to that of Amundi Pioneer's fund
management business; and (v) the differences between the fees and expenses of
the Fund and the fees and expenses of Amundi Pioneer's and Amundi Pioneer
Institutional's institutional accounts, as well as the different services
provided by Adviser to the Fund and by Amundi Pioneer and Amundi Pioneer
Institutional to the institutional accounts. In addition, the Trustees
considered the information provided at regularly scheduled meetings throughout
the year regarding the Fund's performance and risk attributes, including through
meetings with investment management personnel, and took into account other
information related to the Fund provided to the Trustees at regularly scheduled
meetings. The Trustees also considered information they had received in their
review of the continuance of the Current Management Agreement for the Fund in
September 2016.
At meetings held on January 9, 2017 and January 10, 2017, the Trustees met with
representatives of Amundi and PGAM, including separate meetings of the Trustees
who are not "interested persons" of the Fund Complex ("Independent Trustees")
and counsel with representatives of Amundi and PGAM, and subsequently with
representatives of Amundi. In those meetings, they received an extensive
presentation from the representatives of Amundi, including the chief executive
officer of Amundi, describing Amundi's background and history, its global asset
management activities, the growth of its business, and its status as the largest
asset management firm in Europe and one of the largest globally; its capital
126 Pioneer Bond Fund | Annual Report | 6/30/17
structure and financial resources, including information as to the financing of
the Transaction; its principal investors, including its majority investor Credit
Agricole S.A., and Credit Agricole's long-term commitment to the asset
management business; the philosophy and strategy underlying the Transaction and
the complementarity of Amundi's and Pioneer Investments' respective asset
management businesses; Amundi's various operating and investment committees and
how they would likely interact with Amundi Pioneer; the proposed integration
process, including the progress to date and the establishment of various
integration work streams; Amundi's plans for management of Amundi Pioneer;
Amundi's philosophy as to compensation of key employees and its general
intentions with respect to incentive plans for key employees of Amundi Pioneer;
Amundi's preliminary plans to achieve cost and other synergies; and
opportunities to further develop the business of Amundi Pioneer and Amundi
Pioneer Institutional, including in the area of institutional asset management,
and how that would benefit shareholders of the Pioneer Funds.
In those meetings, the representatives of Amundi confirmed their intention that
the Chief Executive Officer and Chief Investment Officer of Amundi Pioneer would
remain in their current positions, and confirmed that they do not currently
foresee major changes in the day-to-day investment management operations of
Amundi Pioneer with respect to the Fund as a direct result of the Transaction.
They discussed incentive arrangements for key personnel that would continue
after the closing of the Transaction and their plans to establish a new
long-term incentive plan following the closing. They also generally discussed
ways in which Amundi Pioneer could potentially draw on the expanded global
resources of Amundi post-Transaction. At those meetings, the Independent
Trustees identified certain areas to which they requested further information,
including as to trading and execution of securities transactions, research and
portfolio management and potential changes in investment process, particularly
where asset classes managed by Amundi Pioneer would overlap with asset classes
managed by Amundi, the continued availability of resources currently at Pioneer
Investments or elsewhere within Amundi to assist in management of certain Funds,
and any anticipated significant changes in operations. The Independent Trustees
considered the uncertainty as to whether the Fund's independent registered
public accounting firm could continue to act in that capacity after the closing
of the Transaction. The Independent Trustees also met with counsel to review the
information they had received to date and to discuss next steps.
Subsequently, the Trustees received further information from Amundi, including
written responses to questions raised by the Independent Trustees, and received
from Amundi Pioneer the information requested of it. The Independent Trustees
reviewed the information provided with counsel at telephonic meetings held on
February 16, 2017 and February 27, 2017. The Trustees held a special in-person
Board meeting on March 6-7, 2017 for further consideration of the New
Pioneer Bond Fund | Annual Report | 6/30/17 127
Management Agreements, the Interim Management Agreements and the Transaction.
The Trustees met again with senior executives of Amundi at the March 6-7, 2017
meeting.
At the March 6-7, 2017 meeting, based on their evaluation of the information
provided by Amundi Pioneer and Amundi, the Trustees including the Independent
Trustees voting separately, approved the New Management Agreement and the
Interim Management Agreement for the Fund. In considering the New Management
Agreement for the Fund, the Trustees considered various factors that they
determined were relevant, including the factors described below. The Trustees
did not identify any single factor as the controlling factor in their
determinations. The Trustees considered the same factors with respect to the
Interim Management Agreement for the Fund.
Nature, Extent and Quality of Services.
The Trustees considered the nature, extent and quality of the services that had
been provided by Amundi Pioneer to the Fund and that are expected to be provided
by Amundi Pioneer to the Fund following the consummation of the Transaction. The
Trustees reviewed the terms of the New Management Agreement, and noted that such
terms are substantially similar to the terms of the Current Management
Agreement, except for different execution dates, effective dates and termination
dates. The Trustees reviewed Amundi Pioneer's investment approach for the Fund
and its research process. The Trustees considered the resources of Amundi
Pioneer and the personnel of Amundi Pioneer who provide investment management
services to the Fund. They also reviewed the amount of non-investment resources
and personnel of Amundi Pioneer that are involved in Amundi Pioneer's services
to the Fund, including Amundi Pioneer's compliance and legal resources and
personnel. The Trustees noted the substantial attention and high priority given
by Amundi Pioneer's senior management to the Pioneer Fund complex.
The Trustees considered that Amundi Pioneer supervises and monitors the
performance of the Fund's service providers and provides the Fund with personnel
(including Fund officers) and other resources that are necessary for the Fund's
business management and operations and that Amundi Pioneer would continue to
provide those investment management and research services and resources to the
Fund following the consummation of the Transaction. The Trustees also considered
that, as administrator, Amundi Pioneer would continue to be responsible for the
administration of the Fund's business and other affairs. The Trustees considered
the fees to be paid to Amundi Pioneer for the provision of administration
services.
The Trustees considered that Deloitte & Touche LLP informed the Board that it
would no longer be independent with respect to the Fund upon the completion of
the Transaction and, accordingly, that it would be necessary for the Board to
engage a new independent registered public accounting firm for the Fund.
128 Pioneer Bond Fund | Annual Report | 6/30/17
The Trustees considered that the Transaction was not expected to have a material
adverse impact on the nature, scope and overall quality of services provided to
the Fund and its shareholders, including investment management, risk management,
administrative, compliance, legal and other services, as a result of the
Transaction.
In that regard, the Trustees considered that Amundi is one of the largest asset
managers globally, and that Amundi Pioneer may have access to additional
research and portfolio management capabilities as a result of the Transaction
and that Amundi Pioneer, as part of Amundi, is expected to have an enhanced
global presence that may contribute to an increase in the overall scale and
resources of Amundi Pioneer. Furthermore, in considering whether the Transaction
would be expected to have a material adverse impact on the nature, scope and
overall quality of services provided to the Fund and its shareholders, the
Trustees considered the statements by representatives of Amundi that they expect
the Chief Executive Officer and Chief Investment Officer of Amundi Pioneer to
remain in their current positions and that they do not currently foresee major
changes in the day-to-day investment management operations of Amundi Pioneer as
a direct result of the Transaction, or the risk management, legal or compliance
services provided by Amundi Pioneer, with respect to the Fund. They further
considered the current incentive arrangements for key personnel of Amundi
Pioneer that would continue after the closing of the Transaction. They also
noted Amundi's stated intention to establish a new long-term incentive plan
following the closing.
The Trustees also took into account their experience in evaluating the proposed
combination of Pioneer Investments and Santander Asset Management, which was
announced in September, 2014 and abandoned in July, 2016. In light of, among
other things, this experience, the Trustees determined that they were not able
to identify any realistic alternatives to approving the New Management Agreement
that would provide the level of services to the Fund and its shareholders that
are expected to be provided by Amundi Pioneer after the closing of the
Transaction.
Based on these considerations, the Trustees concluded that the nature, extent
and quality of services that Amundi Pioneer would continue to provide to the
Fund under the New Management Agreement would be satisfactory and consistent
with the terms of the New Management Agreement.
Performance of the Fund.
In considering the Fund's performance, the Trustees regularly reviewed and
discussed throughout the year data prepared by Amundi Pioneer and information
comparing the Fund's performance with the performance of its peer group of
funds, as classified by each of Morningstar, Inc. (Morningstar) and Lipper, and
the performance of the Fund's benchmark index. They also discussed the Fund's
performance with Amundi Pioneer on a regular basis.
Pioneer Bond Fund | Annual Report | 6/30/17 129
The Trustees' regular reviews and discussions were factored into the Trustees'
deliberations concerning the approval of the New Management Agreement.
Management Fee and Expenses.
The Trustees noted that the stated management fees to be paid by the Fund are
identical under the Current Management Agreement and the New Management
Agreement. The Trustees considered information showing the fees and expenses of
the Fund in comparison to the management fees and expense ratios of its peer
group of funds as classified by Morningstar and also to the expense ratios of a
peer group of funds selected on the basis of criteria determined by the
Independent Trustees for this purpose using data provided by Strategic Insight
Mutual Fund Research and Consulting, LLC (Strategic Insight), an independent
third party. In all quintile rankings referred to below, first quintile is most
favorable to the Fund's shareowners. To the extent applicable, the Trustees also
considered the impact of transfer agency, sub-transfer agency, and other non-
management fee expenses on the expense ratios of the Fund. The Trustees noted
that they separately review the Fund's transfer agency, sub-transfer agency and
intermediary arrangements and that the results of the most recent such review
were considered in the consideration of the Fund's expense ratio.
The Trustees considered that the Fund's management fee as of September 30, 2016
was in the second quintile relative to the management fees paid by other funds
in its Morningstar category for the comparable period. The Trustees also
considered the breakpoints in the management fee schedule and the reduced fee
rates above certain asset levels. The Trustees considered that the expense ratio
of the Fund's Class A shares as of September 30, 2016 was in the third quintile
relative to its Morningstar category and in the third quintile relative to its
Strategic Insight peer group, in each case for the comparable period. The
Trustees considered that the expense ratio of the Fund's Class Y shares as of
September 30, 2016 was in the fourth quintile relative to its Morningstar
category and in the fourth quintile relative to its Strategic Insight peer
group, in each case for the comparable period. The Trustees noted that Amundi
Pioneer had agreed to waive fees and/or reimburse expenses in order to limit the
ordinary operating expenses of the Fund.
The Trustees reviewed management fees charged by Amundi Pioneer and Amundi
Pioneer Institutional to institutional and other clients, including publicly
offered European funds sponsored by Amundi Pioneer's affiliates, unaffiliated
U.S. registered investment companies (in a sub-advisory capacity), and
unaffiliated foreign and domestic separate accounts. The Trustees also
considered Amundi Pioneer's costs in providing services to the Fund and Amundi
Pioneer's and Amundi Pioneer Institutional's costs in providing services to the
other clients and considered the differences in management fees and profit
margins for fund and non-fund services. In evaluating the fees associated with
Amundi Pioneer's and Amundi Pioneer Institutional's client accounts, the
Trustees took into account the respective demands, resources and complexity
associated with the Fund and other
130 Pioneer Bond Fund | Annual Report | 6/30/17
client accounts. The Trustees noted that in some instances the fee rates for
those clients were lower than the management fee for the Fund and considered
that, under both the Current Management Agreement and the New Management
Agreement, Amundi Pioneer would perform additional services for the Fund that it
does not provide to those other clients or services that are broader in scope,
including oversight of the Fund's other service providers and activities related
to compliance and the extensive regulatory and tax regimes to which the Fund is
subject. The Trustees also considered the different risks associated with Amundi
Pioneer's management of the Fund and Amundi Pioneer's and Amundi Pioneer
Institutional's management of the other client accounts.
The Trustees concluded that the management fee payable by the Fund to Amundi
Pioneer was reasonable in relation to the nature and quality of the services to
be provided by Amundi Pioneer.
Profitability.
The Trustees considered information provided by Amundi Pioneer regarding the
profitability of Amundi Pioneer with respect to the advisory services provided
by Amundi Pioneer to the Fund, including the methodology used by Amundi Pioneer
in allocating certain of its costs to the management of the Fund. The Trustees
also considered Amundi Pioneer's profit margin in connection with the overall
operation of the Fund. They further reviewed the financial results, including
the profit margins, realized by Amundi Pioneer and Amundi Pioneer Institutional
from non-fund businesses. The Trustees considered Amundi Pioneer's profit
margins with respect to the Fund in comparison to the limited industry data
available and noted that the profitability of any adviser was affected by
numerous factors, including its organizational structure and method for
allocating expenses. The Trustees concluded that Amundi Pioneer's profitability
with respect to the management of the Fund was not unreasonable.
Economies of Scale.
The Trustees considered Amundi Pioneer's views relating to economies of scale in
connection with the Pioneer Funds as fund assets grow and the extent to which
any such economies of scale are shared with the Fund and Fund shareholders. The
Trustees recognize that economies of scale are difficult to identify and
quantify, and that, among other factors that may be relevant, are the following:
fee levels, expense subsidization, investment by Amundi Pioneer in research and
analytical capabilities and Amundi Pioneer's commitment and resource allocation
to the Fund. The Trustees noted that profitability also may be an indicator of
the availability of any economies of scale, although profitability may vary for
other reasons including due to reductions in expenses. The Trustees concluded
that economies of scale, if any, were being appropriately shared with the Fund.
Pioneer Bond Fund | Annual Report | 6/30/17 131
Other Benefits.
The Trustees considered the other benefits that Amundi Pioneer enjoys from its
relationship with the Fund. The Trustees considered the character and amount of
fees paid or to be paid by the Fund, other than under the Current Management
Agreement or the New Management Agreement, for services provided by Amundi
Pioneer and its affiliates. The Trustees further considered the revenues and
profitability of Amundi Pioneer's businesses other than the Fund business. To
the extent applicable, the Trustees also considered the benefits to the Fund and
to Amundi Pioneer and its affiliates from the use of "soft" commission dollars
generated by the Fund to pay for research and brokerage services.
The Trustees considered that following the completion of the Transaction, Amundi
Pioneer will be the principal U.S. asset management business of Amundi, and that
Amundi's worldwide asset management business will manage over $1.38 trillion in
assets (including the Pioneer Funds). This may create opportunities for Amundi
Pioneer, Amundi Pioneer Institutional and Amundi that derive from Amundi
Pioneer's relationships with the Fund, including Amundi's ability to market the
services of Amundi Pioneer globally. The Trustees noted that Amundi Pioneer may
have access to additional research capabilities as a result of the Transaction
and Amundi's enhanced global presence that may contribute to an increase of the
overall scale of Amundi Pioneer. The Trustees considered that Amundi Pioneer and
the Fund are expected to receive reciprocal intangible benefits from the
relationship, including mutual brand recognition and, for the Fund, direct and
indirect access to the resources of a large global asset manager. The Trustees
concluded that any such benefits received by Amundi Pioneer as a result of its
relationship with the Fund were reasonable.
Conclusion.
After consideration of the factors described above as well as other factors, the
Trustees, including the Independent Trustees, concluded that the New Management
Agreement and the Interim Management Agreement for the Fund, including the fees
payable thereunder, were fair and reasonable and voted to approve the New
Management Agreement and the Interim Management Agreement, and to recommend that
shareholders approve the New Management Agreement.
132 Pioneer Bond Fund | Annual Report | 6/30/17
Trustees, Officers and Service Providers
Investment Adviser
Amundi Pioneer Asset Management, Inc., formerly
Pioneer Investment Management, Inc.
Custodian and Sub-Administrator
Brown Brothers Harriman & Co.
Independent Registered Public Accounting Firm
Ernst & Young LLP
Principal Underwriter
Amundi Pioneer Distributor, Inc., formerly Pioneer Funds Distributor, Inc.
Legal Counsel
Morgan, Lewis & Bockius LLP
Shareowner Services and Transfer Agent
Boston Financial Data Services, Inc.
Proxy Voting Policies and Procedures of the Fund are available without charge,
upon request, by calling our toll free number (1-800-225-6292). Information
regarding how the Fund voted proxies relating to portfolio securities during the
most recent 12-month period ended June 30 is publicly available to shareowners
at www.amundipioneer.com. This information is also available on the Securities
and Exchange Commission's web site at www.sec.gov.
Trustees and Officers
The Fund's Trustees and Officers are listed below, together with their principal
occupations and other directorships they have held during at least the past five
years. Trustees who are interested persons of the Fund within the meaning of the
1940 Act are referred to as Interested Trustees. Trustees who are not interested
persons of the Fund are referred to as Independent Trustees. Each of the
Trustees serves as a Trustee of each of the 46 U.S. registered investment
portfolios for which Amundi Pioneer serves as investment adviser (the "Pioneer
Funds"). The address for all Trustees and all officers of the Fund is 60 State
Street, Boston, Massachusetts 02109.
The Statement of Additional Information of the Fund includes additional
information about the Trustees and is available, without charge, upon request,
by calling 1-800-225-6292.
Pioneer Bond Fund | Annual Report | 6/30/17 133
Independent Trustees
---------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Trustee
---------------------------------------------------------------------------------------------------------------------------------
Thomas J. Perna (66) Trustee since 2006. Private investor (2004 - 2008 and 2013 - Director, Broadridge Financial
Chairman of the Board Serves until a present); Chairman (2008 - 2013) and Solutions, Inc. (investor
and Trustee successor trustee is Chief Executive Officer (2008 - 2012), communications and securities
elected or earlier Quadriserv, Inc. (technology products processing provider for
retirement or removal. for securities lending industry); and financial services industry)
Senior Executive Vice President, The (2009 - present); Director,
Bank of New York (financial and Quadriserv, Inc. (2005 -
securities services) (1986 - 2004) 2013); and Commissioner, New
Jersey State Civil Service
Commission (2011 - 2015)
---------------------------------------------------------------------------------------------------------------------------------
David R. Bock (73) Trustee since 2005. Managing Partner, Federal City Capital Director of New York Mortgage
Trustee Serves until a Advisors (corporate advisory services Trust (publicly-traded
successor trustee is company) (1997 - 2004 and 2008 - mortgage REIT) (2004 - 2009,
elected or earlier present); Interim Chief Executive 2012 - present); Director of
retirement or removal. Officer, Oxford Analytica, Inc. The Swiss Helvetia Fund, Inc.
(privately held research and consulting (closed-end fund) (2010 -
company) (2010); Executive Vice present); Director of Oxford
President and Chief Financial Officer, Analytica, Inc. (2008 -
I-trax, Inc. (publicly traded health present); and Director of
care services company) (2004 - 2007); Enterprise Community
and Executive Vice President and Chief Investment, Inc.
Financial Officer, Pedestal Inc. (privately-held affordable
(internet-based mortgage trading housing finance company) (1985
company) (2000 - 2002); Private - 2010)
Consultant (1995 - 1997); Managing
Director, Lehman Brothers (1992 - 1995);
Executive, The World Bank (1979 - 1992)
---------------------------------------------------------------------------------------------------------------------------------
Benjamin M. Friedman (72) Trustee since 2008. William Joseph Maier Professor of Trustee, Mellon Institutional
Trustee Serves until a Political Economy, Harvard University Funds Investment Trust and
successor trustee is (1972 - present) Mellon Institutional Funds
elected or earlier Master Portfolio (oversaw 17
retirement or removal. portfolios in fund complex)
(1989 - 2008)
---------------------------------------------------------------------------------------------------------------------------------
134 Pioneer Bond Fund | Annual Report | 6/30/17
---------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Trustee
---------------------------------------------------------------------------------------------------------------------------------
Margaret B.W. Graham (70) Trustee since 1996. Founding Director, Vice-President and None
Trustee Serves until a Corporate Secretary, The Winthrop Group,
successor trustee is Inc. (consulting firm) (1982 - present);
elected or earlier Desautels Faculty of Management, McGill
retirement or removal. University (1999 - present); and Manager
of Research Operations and
Organizational Learning, Xerox PARC,
Xerox's advance research center
(1990-1994)
---------------------------------------------------------------------------------------------------------------------------------
Lorraine H. Monchak (61) Trustee since 2017. Chief Investment Officer, 1199 SEIU None
Trustee (Advisory Trustee from Funds (healthcare workers union pension
2014 - 2017) Serves funds) (2001 - present); Vice President
until a successor - International Investments Group,
trustee is elected or American International Group, Inc.
earlier retirement or (insurance company) (1993 - 2001); Vice
removal. 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); Mortgage Strategies Group, Drexel
Burnham Lambert, Ltd. (investment bank)
(1986 - 1987)
---------------------------------------------------------------------------------------------------------------------------------
Marguerite A. Piret (69) Trustee since 1996. President and Chief Executive Officer, Director of New America High
Trustee Serves until a Newbury Piret Company (investment Income Fund, Inc. (closed-end
successor trustee is banking firm) (1981 - present) investment company) (2004 -
elected or earlier present); and Member, Board of
retirement or removal. Governors, Investment Company
Institute (2000 - 2006)
---------------------------------------------------------------------------------------------------------------------------------
Fred J. Ricciardi (70) Trustee since 2014. Consultant (investment company services) None
Trustee Serves until a (2012 - present); Executive Vice
successor trustee is President, BNY Mellon (financial and
elected or earlier investment company services) (1969 -
retirement or removal. 2012); Director, BNY International
Financing Corp. (financial services)
(2002 - 2012); Director, Mellon Overseas
Investment Corp. (financial services)
(2009 - 2012)
---------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/17 135
Interested Trustee
---------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Trustee
---------------------------------------------------------------------------------------------------------------------------------
Lisa M. Jones (55)* Trustee since 2017. Chair, Director, CEO and President of None
Trustee, President and Chief Serves until a Amundi Pioneer Asset Management USA,
Executive Officer successor trustee is Inc. (since September 2014); Chair,
elected or earlier Director and CEO of Amundi Pioneer Asset
retirement or removal Management, Inc. (since September 2014);
Chair, Director and CEO of Amundi
Pioneer Distributor, Inc. (since
September 2014); Chair, Director, CEO
and President of Amundi Pioneer
Institutional Asset Management, Inc.
(since September 2014); Managing
Director, Morgan Stanley Investment
Management (2010 - 2013); Director of
Institutional Business, CEO of
International, Eaton Vance Management
(2005 - 2010)
---------------------------------------------------------------------------------------------------------------------------------
Kenneth J. Taubes (59)* Trustee since 2014. Director and Executive Vice President None
Trustee Serves until a (since 2008) and Chief Investment
successor trustee is Officer, U.S. (since 2010) of Amundi
elected or earlier Pioneer Asset Management USA, Inc.;
retirement or removal Executive Vice President and Chief
Investment Officer, U.S. of Amundi
Pioneer (since 2008); Executive Vice
President of Amundi Pioneer
Institutional Asset Management, Inc.
(since 2009); Portfolio Manager of
Amundi Pioneer (since 1999)
---------------------------------------------------------------------------------------------------------------------------------
* Ms. Jones and Mr. Taubes are Interested Trustees because they are officers
or directors of the fund's investment adviser and certain of its
affiliates.
136 Pioneer Bond Fund | Annual Report | 6/30/17
Fund Officers
---------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Officer
---------------------------------------------------------------------------------------------------------------------------------
Christopher J. Kelley (52) Since 2010. Vice President and Associate General None
Secretary and Chief Serves at the Counsel of Amundi Pioneer since January
Legal Officer discretion of the 2008; Secretary and Chief Legal Officer
Board of all of the Pioneer Funds since June
2010; Assistant Secretary of all of the
Pioneer Funds from September 2003 to May
2010; Vice President and Senior Counsel
of Amundi Pioneer from July 2002 to
December 2007
---------------------------------------------------------------------------------------------------------------------------------
Carol B. Hannigan (56) Since 2010. Fund Governance Director of Amundi None
Assistant Secretary Serves at the Pioneer since December 2006 and
discretion of the Assistant Secretary of all the Pioneer
Board 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 (54) Since 2010. Senior Counsel of Amundi Pioneer since None
Assistant Secretary Serves at the May 2013 and Assistant Secretary of all
discretion of the the Pioneer Funds since June 2010;
Board Counsel of Amundi Pioneer from June 2007
to May 2013
---------------------------------------------------------------------------------------------------------------------------------
Mark E. Bradley (57) Since 2008. Vice President - Fund Treasury of Amundi None
Treasurer and Chief Serves at the Pioneer; Treasurer of all of the Pioneer
Financial and Accounting discretion of the Funds since March 2008; Deputy Treasurer
Officer Board 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 (52) Since 2000. Director - Fund Treasury of Amundi None
Assistant Treasurer Serves at the Pioneer; and Assistant Treasurer of all
discretion of the of the Pioneer Funds
Board
---------------------------------------------------------------------------------------------------------------------------------
Pioneer Bond Fund | Annual Report | 6/30/17 137
Fund Officers (continued)
---------------------------------------------------------------------------------------------------------------------------------
Name, Age and Term of Office and Other Directorships
Position Held with the Fund Length of Service Principal Occupation Held by Officer
---------------------------------------------------------------------------------------------------------------------------------
Gary Sullivan (59) Since 2002. Fund Accounting Manager - Fund Treasury None
Assistant Treasurer Serves at the of Amundi Pioneer; and Assistant
discretion of the Treasurer of all of the Pioneer Funds
Board
---------------------------------------------------------------------------------------------------------------------------------
David F. Johnson (37) Since 2009. Fund Administration Manager - Fund None
Assistant Treasurer Serves at the Treasury of Amundi Pioneer since
discretion of the November 2008; Assistant Treasurer of
Board all of the Pioneer Funds since January
2009; Client Service Manager -
Institutional Investor Services at State
Street Bank from March 2003 to March
2007
---------------------------------------------------------------------------------------------------------------------------------
Jean M. Bradley (64) Since 2010. Chief Compliance Officer of Amundi None
Chief Compliance Officer Serves at the Pioneer and of all the Pioneer Funds
discretion of the since March 2010; Chief Compliance
Board Officer of Amundi Pioneer Institutional
Asset Management, Inc. since January
2012; Chief Compliance Officer of
Vanderbilt Capital Advisors, LLC since
July 2012: Director of Adviser and
Portfolio Compliance at Amundi Pioneer
since October 2005; Senior Compliance
Officer for Columbia Management
Advisers, Inc. from October 2003 to
October 2005
---------------------------------------------------------------------------------------------------------------------------------
Kelly O'Donnell (46) Since 2006. Director - Transfer Agency Compliance of None
Anti-Money Serves at the Amundi Pioneer and Anti-Money Laundering
Laundering Officer discretion of the Officer of all the Pioneer Funds since
Board 2006
---------------------------------------------------------------------------------------------------------------------------------
138 Pioneer Bond Fund | Annual Report | 6/30/17
This page is for your notes.
Pioneer Bond Fund | Annual Report | 6/30/17 139
This page is for your notes.
140 Pioneer Bond Fund | Annual Report | 6/30/17
How to Contact Amundi Pioneer
We are pleased to offer a variety of convenient ways for you to contact us for
assistance or information.
Call us for:
--------------------------------------------------------------------------------
Account Information, including existing accounts,
new accounts, prospectuses, applications
and service forms 1-800-225-6292
FactFone(SM) for automated fund yields, prices,
account information and transactions 1-800-225-4321
Retirement plans information 1-800-622-0176
Write to us:
--------------------------------------------------------------------------------
Amundi Pioneer
P.O. Box 55014
Boston, Massachusetts 02205-5014
Our toll-free fax 1-800-225-4240
Our internet e-mail address ask.amundipioneer@amundipioneer.com
(for general questions about Amundi Pioneer only)
Visit our web site: www.amundipioneer.com
This report must be preceded or accompanied by a prospectus.
The Fund files a complete schedule of investments with the Securities and
Exchange Commission for the first and third quarters for each fiscal year on
Form N-Q. Shareholders may view the filed Form N-Q by visiting the Commission's
web site at http://www.sec.gov. The filed form may also be viewed and copied at
the Commission's Public Reference Room in Washington, DC. Information regarding
the operations of the Public Reference Room may be obtained by calling
1-800-SEC-0330.
[LOGO] Amundi Pioneer
==============
ASSET MANAGEMENT
Amundi Pioneer Asset Management, Inc.
60 State Street
Boston, MA 02109
www.amundipioneer.com
Securities offered through Amundi Pioneer Distributor, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
(C) 2017 Amundi Pioneer Asset Management 19398-11-0817
ITEM 2. CODE OF ETHICS.
(a) Disclose whether, as of the end of the period covered by the report, the
registrant has adopted a code of ethics that applies to the registrant's
principal executive officer, principal financial officer, principal accounting
officer or controller, or persons performing similar functions, regardless of
whether these individuals are employed by the registrant or a third party. If
the registrant has not adopted such a code of ethics, explain why it has not
done so.
The registrant has adopted, as of the end of the period covered by this report,
a code of ethics that applies to the registrant's principal executive officer,
principal financial officer, principal accounting officer and controller.
(b) For purposes of this Item, the term "code of ethics" means written standards
that are reasonably designed to deter wrongdoing and to promote:
(1) Honest and ethical conduct, including the ethical handling of actual
or apparent conflicts of interest between personal and professional
relationships;
(2) Full, fair, accurate, timely, and understandable disclosure in
reports and documents that a registrant files with, or submits to, the
Commission and in other public communications made by the registrant;
(3) Compliance with applicable governmental laws, rules, and
regulations;
(4) The prompt internal reporting of violations of the code to an
appropriate person or persons identified in the code; and
(5) Accountability for adherence to the code.
(c) The registrant must briefly describe the nature of any amendment, during the
period covered by the report, to a provision of its code of ethics that applies
to the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, and that relates to any element of the code of
ethics definition enumerated in paragraph (b) of this Item. The registrant must
file a copy of any such amendment as an exhibit pursuant to Item 10(a), unless
the registrant has elected to satisfy paragraph (f) of this Item by posting its
code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by
undertaking to provide its code of ethics to any person without charge, upon
request, pursuant to paragraph (f)(3) of this Item.
The registrant has made no amendments to the code of ethics during the period
covered by this report.
(d) If the registrant has, during the period covered by the report, granted a
waiver, including an implicit waiver, from a provision of the code of ethics to
the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, that relates to one or more of the items set forth
in paragraph (b) of this Item, the registrant must briefly describe the nature
of the waiver, the name of the person to whom the waiver was granted, and the
date of the waiver.
Not applicable.
(e) If the registrant intends to satisfy the disclosure requirement under
paragraph (c) or (d) of this Item regarding an amendment to, or a waiver from,
a provision of its code of ethics that applies to the registrant's principal
executive officer, principal financial officer, principal accounting officer or
controller, or persons performing similar functions and that relates to any
element of the code of ethics definition enumerated in paragraph (b) of this
Item by posting such information on its Internet website, disclose the
registrant's Internet address and such intention.
Not applicable.
(f) The registrant must:
(1) File with the Commission, pursuant to Item 12(a)(1), a copy of
its code of ethics that applies to the registrant's principal
executive officer,principal financial officer, principal accounting
officer or controller, or persons performing similar functions,
as an exhibit to its annual
report on this Form N-CSR (see attachment);
(2) Post the text of such code of ethics on its Internet website and
disclose, in its most recent report on this Form N-CSR, its Internet
address and the fact that it has posted such code of ethics on its
Internet website; or
(3) Undertake in its most recent report on this Form N-CSR to provide to
any person without charge, upon request, a copy of such code of ethics
and explain the manner in which such request may be made.
See Item 10(2)
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant's board of trustees has determined that
the registrant either:
(i) Has at least one audit committee financial expert serving on its audit
committee; or
(ii) Does not have an audit committee financial expert serving on its audit
committee.
The registrant's Board of Trustees has determined that the registrant has at
least one audit committee financial expert.
(2) If the registrant provides the disclosure required by paragraph
(a)(1)(i) of this Item, it must disclose the name of the audit committee
financial expert and whether that person is "independent." In order to be
considered "independent" for purposes of this Item, a member of an audit
committee may not, other than in his or her capacity as a member of the audit
committee, the board of trustees, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other
compensatory fee from the issuer; or
(ii) Be an "interested person" of the investment company as defined in
Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
Ms. Marguerite A. Piret, an independent trustee, is such an audit committee
financial expert.
(3) If the registrant provides the disclosure required by paragraph (a)(1)
(ii) of this Item, it must explain why it does not have an audit committee
financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption AUDIT FEES, the aggregate fees billed for each
of the last two fiscal years for professional services rendered by the principal
accountant for the audit of the registrant's annual financial statements or
services that are normally provided by the accountant in connection with
statutory and regulatory filings or engagements for those fiscal years.
The audit fees for the Fund were $45,000
payable to Ernst & Young LLP for the year ended
June 30, 2017 and $62,185 to Deloitte & Touche LLP
for the year ended June 30, 2016.
(b) Disclose, under the caption AUDIT-RELATED FEES, the aggregate fees billed in
each of the last two fiscal years for assurance and related services by the
principal accountant that are reasonably related to the performance of the audit
of the registrant's financial statements and are not reported under
paragraph (a) of this Item. Registrants shall describe the nature of the
services comprising the fees disclosed under this category.
There were no audit-related services in 2017 or 2016.
(c) Disclose, under the caption TAX FEES, the aggregate fees billed in each of
the last two fiscal years for professional services rendered by the principal
accountant for tax compliance, tax advice, and tax planning. Registrants shall
describe the nature of the services comprising the fees disclosed under this
category.
The tax fees for the Fund were $10,115
payable to Ernst & Young LLP for the year ended
June 30, 2017 and $8,778 to Deloitte & Touche LLP
for the year ended June 30, 2016.
(d) Disclose, under the caption ALL OTHER FEES, the aggregate fees billed in
each of the last two fiscal years for products and services provided by the
principal accountant, other than the services reported in paragraphs (a) through
(c) of this Item. Registrants shall describe the nature of the services
comprising the fees disclosed under this category.
There were no other fees in 2017 or 2016.
(e) (1) Disclose the audit committee's pre-approval policies and procedures
described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
PIONEER FUNDS
APPROVAL OF AUDIT, AUDIT-RELATED, TAX AND OTHER SERVICES
PROVIDED BY THE INDEPENDENT AUDITOR
SECTION I - POLICY PURPOSE AND APPLICABILITY
The Pioneer Funds recognize the importance of maintaining the independence of
their outside auditors. Maintaining independence is a shared responsibility
involving Pioneer Investment Management, Inc ("PIM"), the audit committee and
the independent auditors.
The Funds recognize that a Fund's independent auditors: 1) possess knowledge of
the Funds, 2) are able to incorporate certain services into the scope of the
audit, thereby avoiding redundant work, cost and disruption of Fund personnel
and processes, and 3) have expertise that has value to the Funds. As a result,
there are situations where it is desirable to use the Fund's independent
auditors for services in addition to the annual audit and where the potential
for conflicts of interests are minimal. Consequently, this policy, which is
intended to comply with Rule 210.2-01(C)(7), sets forth guidelines and
procedures to be followed by the Funds when retaining the independent audit firm
to perform audit, audit-related tax and other services under those
circumstances, while also maintaining independence.
Approval of a service in accordance with this policy for a Fund shall also
constitute approval for any other Fund whose pre-approval is required pursuant
to Rule 210.2-01(c)(7)(ii).
In addition to the procedures set forth in this policy, any non-audit services
that may be provided consistently with Rule 210.2-01 may be approved by the
Audit Committee itself and any pre-approval that may be waived in accordance
with Rule 210.2-01(c)(7)(i)(C) is hereby waived.
Selection of a Fund's independent auditors and their compensation shall be
determined by the Audit Committee and shall not be subject to this policy.
SECTION II - POLICY
---------------- -------------------------------- -------------------------------------------------
SERVICE SERVICE CATEGORY DESCRIPTION SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
CATEGORY
---------------- -------------------------------- -------------------------------------------------
I. AUDIT Services that are directly o Accounting research assistance
SERVICES related to performing the o SEC consultation, registration
independent audit of the Funds statements, and reporting
o Tax accrual related matters
o Implementation of new accounting
standards
o Compliance letters (e.g. rating agency
letters)
o Regulatory reviews and assistance
regarding financial matters
o Semi-annual reviews (if requested)
o Comfort letters for closed end
offerings
---------------- -------------------------------- -------------------------------------------------
II. Services which are not o AICPA attest and agreed-upon procedures
AUDIT-RELATED prohibited under Rule o Technology control assessments
SERVICES 210.2-01(C)(4) (the "Rule") o Financial reporting control assessments
and are related extensions of o Enterprise security architecture
the audit services support the assessment
audit, or use the
knowledge/expertise gained
from the audit procedures as a
foundation to complete the
project. In most cases, if
the Audit-Related Services are
not performed by the Audit
firm, the scope of the Audit
Services would likely
increase. The Services are
typically well-defined and
governed by accounting
professional standards (AICPA,
SEC, etc.)
---------------- -------------------------------- -------------------------------------------------
------------------------------------- ------------------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- ------------------------------------
o "One-time" pre-approval o A summary of all such
for the audit period for all services and related fees
pre-approved specific service reported at each regularly
subcategories. Approval of the scheduled Audit Committee
independent auditors as meeting.
auditors for a Fund shall
constitute pre approval for
these services.
------------------------------------- ------------------------------------
o "One-time" pre-approval o A summary of all such
for the fund fiscal year within services and related fees
a specified dollar limit (including comparison to
for all pre-approved specified dollar limits)
specific service subcategories reported quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limit for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for Audit-Related
Services not denoted as
"pre-approved", or
to add a specific service
subcategory as "pre-approved"
------------------------------------- ------------------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- --------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
III. TAX SERVICES Services which are not o Tax planning and support
prohibited by the Rule, o Tax controversy assistance
if an officer of the Fund o Tax compliance, tax returns, excise
determines that using the tax returns and support
Fund's auditor to provide o Tax opinions
these services creates
significant synergy in
the form of efficiency,
minimized disruption, or
the ability to maintain a
desired level of
confidentiality.
----------------------- --------------------------- -----------------------------------------------
------------------------------------- -------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- -------------------------
------------------------------------- -------------------------
o "One-time" pre-approval o A summary of
for the fund fiscal year all such services and
within a specified dollar limit related fees
(including comparison
to specified dollar
limits) reported
quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limits for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for tax services not
denoted as pre-approved, or to add a specific
service subcategory as
"pre-approved"
------------------------------------- -------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- --------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
IV. OTHER SERVICES Services which are not o Business Risk Management support
prohibited by the Rule, o Other control and regulatory
A. SYNERGISTIC, if an officer of the Fund compliance projects
UNIQUE QUALIFICATIONS determines that using the
Fund's auditor to provide
these services creates
significant synergy in
the form of efficiency,
minimized disruption,
the ability to maintain a
desired level of
confidentiality, or where
the Fund's auditors
posses unique or superior
qualifications to provide
these services, resulting
in superior value and
results for the Fund.
----------------------- --------------------------- -----------------------------------------------
--------------------------------------- ------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------- --------------------------
o "One-time" pre-approval o A summary of
for the fund fiscal year within all such services and
a specified dollar limit related fees
(including comparison
to specified dollar
limits) reported
quarterly.
o Specific approval is
needed to exceed the
pre-approved dollar limits for
these services (see general
Audit Committee approval policy
below for details on obtaining
specific approvals)
o Specific approval is
needed to use the Fund's
auditors for "Synergistic" or
"Unique Qualifications" Other
Services not denoted as
pre-approved to the left, or to
add a specific service
subcategory as "pre-approved"
------------------------------------- --------------------------
SECTION III - POLICY DETAIL, CONTINUED
----------------------- ------------------------- -----------------------------------------------
SERVICE CATEGORY SERVICE CATEGORY SPECIFIC PROHIBITED SERVICE SUBCATEGORIES
DESCRIPTION
----------------------- ------------------------- -----------------------------------------------
PROHIBITED SERVICES Services which result 1. Bookkeeping or other services
in the auditors losing related to the accounting records or
independence status financial statements of the audit
under the Rule. client*
2. Financial information systems design
and implementation*
3. Appraisal or valuation services,
fairness* opinions, or
contribution-in-kind reports
4. Actuarial services (i.e., setting
actuarial reserves versus actuarial
audit work)*
5. Internal audit outsourcing services*
6. Management functions or human
resources
7. Broker or dealer, investment
advisor, or investment banking services
8. Legal services and expert services
unrelated to the audit
9. Any other service that the Public
Company Accounting Oversight Board
determines, by regulation, is
impermissible
----------------------- ------------------------- -----------------------------------------------
------------------------------------------- ------------------------------
AUDIT COMMITTEE APPROVAL POLICY AUDIT COMMITTEE
REPORTING POLICY
------------------------------------------- ------------------------------
o These services are not to be o A summary of all
performed with the exception of the(*) services and related
services that may be permitted fees reported at each
if they would not be subject to audit regularly scheduled
procedures at the audit client (as Audit Committee meeting
defined in rule 2-01(f)(4)) level will serve as continual
the firm providing the service. confirmation that has
not provided any
restricted services.
------------------------------------------- ------------------------------
--------------------------------------------------------------------------------
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
o For all projects, the officers of the Funds and the Fund's auditors will each
make an assessment to determine that any proposed projects will not impair
independence.
o Potential services will be classified into the four non-restricted service
categories and the "Approval of Audit, Audit-Related, Tax and Other
Services" Policy above will be applied. Any services outside the specific
pre-approved service subcategories set forth above must be specifically
approved by the Audit Committee.
o At least quarterly, the Audit Committee shall review a report summarizing the
services by service category, including fees, provided by the Audit firm as
set forth in the above policy.
--------------------------------------------------------------------------------
(2) Disclose the percentage of services described in each of paragraphs (b)
through (d) of this Item that were approved by the audit committee pursuant
to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
Non-Audit Services
Beginning with non-audit service contracts entered
into on or after May 6, 2003, the effective date of the
new SEC pre-approval rules, the Fund's audit
committee is required to pre-approve services to
affiliates defined by SEC rules to the extent that the
services are determined to have a direct impact on the
operations or financial reporting of the Fund. For the
years ended June 30 2017 and 2016, 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 $10,155
payable to Ernst & Young LLP for the year ended
June 30, 2017 and $8,778 to Deloitte & Touche LLP
for the year ended June 30, 2016.
(h) Disclose whether the registrants audit committee of the board of trustees
has considered whether the provision of non-audit services that were rendered to
the registrants investment adviser (not including any subadviser whose role is
primarily portfolio management and is subcontracted with or overseen by another
investment adviser), and any entity controlling, controlled by, or under common
control with the investment adviser that provides ongoing services to the
registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of
Rule 2-01 of Regulation S-X is compatible with maintaining the principal
accountant's independence.
The Fund's audit committee of the Board of Trustees
has considered whether the provision of non-audit
services that were rendered to the Affiliates (as
defined) that were not pre- approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is
compatible with maintaining the principal accountant's
independence.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
(a) If the registrant is a listed issuer as defined in Rule 10A-3
under the Exchange Act (17 CFR 240.10A-3), state whether
or not the registrant has a separately-designated standing
audit committee established in accordance with Section
3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)).
If the registrant has such a committee, however designated,
identify each committee member. If the entire board of directors
is acting as the registrant's audit committee as specified in
Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)),
so state.
N/A
(b) If applicable, provide the disclosure required by Rule 10A-3(d)
under the Exchange Act (17 CFR 240.10A-3(d)) regarding an exemption
from the listing standards for audit committees.
N/A
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule of Investments in securities of unaffiliated issuers
as of the close of the reporting period as set forth in 210.1212
of Regulation S-X [17 CFR 210.12-12], unless the schedule is
included as part of the report to shareholders filed under Item
1 of this Form.
Included in Item 1
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR
CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
A closed-end management investment company that is filing an annual report on
this Form N-CSR must, unless it invests exclusively in non-voting securities,
describe the policies and procedures that it uses to determine how to vote
proxies relating to portfolio securities, including the procedures that the
company uses when a vote presents a conflict between the interests of its
shareholders, on the one hand, and those of the company's investment adviser;
principal underwriter; or any affiliated person (as defined in Section 2(a)(3)
of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules
thereunder) of the company, its investment adviser, or its principal
underwriter, on the other. Include any policies and procedures of the company's
investment adviser, or any other third party, that the company uses, or that are
used on the company's behalf, to determine how to vote proxies relating to
portfolio securities.
Not applicable to open-end management investment companies.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
(a) If the registrant is a closed-end management investment company that
is filing an annual report on this Form N-CSR,provide the following
information:
(1) State the name, title, and length of service of the person or persons
employed by or associated with the registrant or an investment adviser
of the registrant who are primarily responsible for the day-to-day management
of the registrant's portfolio ("Portfolio Manager"). Also state each Portfolio
Manager's business experience during the past 5 years.
Not applicable to open-end management investment companies.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a) If the registrant is a closed-end management investment company,
in the following tabular format, provide the information specified in
paragraph (b) of this Item with respect to any purchase made by or on
behalf of the registrant or any affiliated purchaser, as defined in
Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of
shares or other units of any class of the registrant's equity securities
that is registered by the registrant pursuant to Section 12 of the
Exchange Act (15 U.S.C. 781).
Not applicable to open-end management investment companies.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders
may recommend nominees to the registrant's board of directors, where
those changes were implemented after the registrant last provided
disclosure in response to the requirements of Item 407(c)(2)(iv) of
Regulation S-R(17 CFR 229.407)(as required by Item 22(b)(15))
of Schedule 14A (17 CFR 240.14a-101), or this Item.
There have been no material changes to the procedures by which the
shareholders may recommend nominees to the registrant's board of
directors since the registrant last provided disclosure in response
to the requirements of Item 407(c)(2)(iv) of Regulation S-R of Schedule 14(A)
in its definitive proxy statement, or this item.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive and
principal financials officers, or persons performing similar functions,
regarding the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph,
based on the evaluation of these controls and procedures required by Rule
30a-3(b) under the Act (17 CFR 270.30(a)-3(b) and Rules 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The registrant's principal executive officer
and principal financial officer have
concluded that the registrant's disclosure
controls and procedures are effective based
on the evaluation of these controls and
procedures as of a date within 90 days of the
filing date of this report.
(b) Disclose any change in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that
occured during the second fiscal quarter of the period covered by this report
that has materially affected, or is reasonably likely to materially affect,
the registrant's internal control over financial reporting.
There were no significant changes in the
registrant's internal control over financial
reporting that occurred during the second
fiscal quarter of the period covered by this
report that have materially affected, or are
reasonably likely to materially affect, the
registrant's internal control over financial
reporting.
The registrant's principal executive officer and principal financial
officer, however, voluntarily are reporting the following information:
In August of 2006 the registrant's investment adviser
enhanced its internal procedures for reporting performance
information required to be included in prospectuses.
Those enhancements involved additional internal controls
over the appropriateness of performance data
generated for this purpose. Such enhancements were made
following an internal review which identified
prospectuses relating to certain classes of shares of
a limited number of registrants where, inadvertently,
performance information not reflecting the deduction of
applicable sales charges was included. Those prospectuses
were revised, and the revised prospectuses were distributed to
shareholders.
ITEM 12. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the
exhibits in the sequence indicated.
(1) Any code of ethics, or amendment thereto, that is the subject of the
disclosure required by Item 2, to the extent that the registrant intends to
satisfy the Item 2 requirements through filing of an exhibit.
(2) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2(a) under the Act
(17 CFR 270.30a-2(a)) , exactly as set forth below:
Filed herewith.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Bond Fund
By (Signature and Title)* /s/ Lisa M. Jones
Lisa M. Jones, President & Chief Executive Officer
Date August 29, 2017
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, 2017
By (Signature and Title)* /s/ Mark E. Bradley
Mark E. Bradley, Treasurer & Chief Accounting & Financial Officer
Date August 29, 2017
* Print the name and title of each signing officer under his or her signature.