An Active, Risk-Managed Approach to Core Fixed Income

 

Pioneer Bond Fund

Pioneer Bond Fund is a multi-sector bond fund that invests across a broad range of US dollar-denominated fixed income sectors, including US investment grade core, up to 20% in non-investment grade securities and up to 15% in non-US securities. The Fund's benchmark is the Bloomberg Barclays US Aggregate Bond Index, a broad measure of the US bond market.

An Active, Risk-Managed Approach to Core Fixed Income

Pioneer Bond Fund seeks current income and strives to deliver competitive returns compared to a traditional higher-quality, US core fixed income portfolio, while limiting additional volatility. 

 

Diversified Sources of Risk / Return

We seek to diversify1 across a broad range of fixed income asset classes and exposure to non-core sectors with lower correlations. We believe this can contribute to higher returns, lower volatility and reduced downside risk versus its peers over time.

Integrated (Non-Siloed) Portfolio Management

In addition to assessing risk at the overall portfolio level, as credit managers we also seek to manage risk at the sector, industry and issuer/security levels. These decisions are aligned with the Fund's objectives and risk tolerances.

Transparency of Portfolio

The Fund strives to adds value by investing primarily in cash bonds.  The focus on cash bond markets and low historical derivative usage may appeal to investors who seek greater transparency in their investments. 

Distinguishing Features

 

Seeking Outperformance through Dynamic Allocation

Seeking to benefit from its value-driven, diversified approach, Pioneer Bond Fund strives to deliver outperformance of its benchmark and peers over time. The Fund’s flexible approach to asset allocation can help pursue strong performance in different economic, interest rate and credit environments.

Explore our active sector allocations among various fixed income asset classes.

Explore Active Management

Fund Facts

Approach

Pioneer Bond Fund seeks to outperform its index, while delivering benchmark-like volatility and managing downside risk2, through dynamic investment across a diversified range of US fixed income investment grade and non-investment grade sectors. This strategy can serve as an investor’s core fixed income allocation, while offering the potential for higher returns with its increased opportunity set. The Fund strives to achieve volatility similar to that of a core bond portfolio, due to the diversification benefits of lower-correlated asset classes. Pioneer Bond Fund pursues an active, value-driven investment approach, seeking to add value primarily through asset allocation and security selection.

Tickers

Class A:   PIOBX 
Class C:   PCYBX 
Class K:   PBFKX 
Class Y:   PICYX

Benchmark

Bloomberg Barclays US Aggregate Bond Index

Inception Date

10/31/1978

Investment Objective

Current income and total return

Overall Y Share Morningstar RatingTM

(out of 539 funds in the Intermediate Core-Plus Bond Category)

Morningstar Proprietary Risk-Adjusted Ratings Performance as of 7/31/2019
For more information about Morningstar Star RatingsTM including methodology, visit our  Strength Across the Board  page. 

Experienced Portfolio Management Team

The fund's highly experienced investment team has worked together to implement active allocation, which has resulted in strong historical risk-adjusted returns.3  The team is supported by the strength of a global research platform and sector specialists, with expertise across the fixed income spectrum and core competency in credit. 

Ken Taubes, EVP 
  Executive Vice President
Chief Investment Officer, US
Portfolio Manager

Brad Komenda, SVP
  Senior Vice President,
Deputy Director of Investment Grade Corporates,
Portfolio Manager

Timothy Rowe4
  Managing Director,
Director of Multi-Sector Fixed Income,
Portfolio Manager

Biography

Biography

Biography

 

Diversification does not ensure a profit or protect against loss.

Downside risk is the risk of the actual return being below the expected return.

Past performance is no guarantee of future results.

Effective June 8, 2018, Timothy Rowe became a Portfolio Manager of the Fund.

A Word About Risk:
When interest rates rise, the prices of fixed-income securities in the Fund will generally fall. Conversely, when interest rates fall, the prices of fixed-income securities in the Fund will generally rise. Investments in the fund are subject to possible loss due to the financial failure of issuers of 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 US Government sponsored entities (i.e., FNMA, Freddie Mac) are neither guaranteed nor issued by the US 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 it 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. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

Securities offered through Amundi Pioneer Distributor, Inc., 
60 State Street, Boston, MA. 02109. 
Underwriter of Pioneer mutual funds, Member  SIPC.  

Not FDIC insured | May lose value | No bank guarantee

EXP-2020-06-25-ADID-882692-1Y-T