Active Management Across the Range of Market Environments

Philosophy

Pioneer Strategic Income Fund adheres to three core investment tenets: value, diversification and downside risk focus.

Value-Driven The Fund seeks to invest in sectors that offer attractive relative value, based on fundamentals and on spread relationships to long-term averages. Value investing seeks to capitalize on the benefits of rebalancing through dynamic allocation, which can make a significant contribution to portfolio returns over time.	Broad Diversification The Fund’s diversification level seeks to benefit from incorporating a broad range of factors and sectors, which helps it pursue attractive risk-adjusted returns. Diversification available from asset classes with lower correlation1 to core sectors can help reduce volatility and downside risk.	Downside Risk Focus The Fund has been successful in limiting downside risk and avoiding permanent impairment of capital has reflected its disciplined approach to limiting issuer concentrations combined with strong fundamental credit research, avoiding at-risk sectors and avoiding market value loss in rising interest rate environments.

Actively Combining Asset Classes for Income and Risk Management   

Diverse asset classes tend to behave differently under various economic conditions and their performance tends to be uncorrelated to one another. This makes it more challenging and time consuming to identify allocations to strategically diversify your clients' portfolios.3

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Fund Facts

Approach

The Fund seeks to enhance total return and significantly outperform its index, while delivering benchmark-like volatility and managing downside risk², through dynamic investment across a diversified³ range of global fixed income asset classes and currencies. 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 Strategic Income Fund pursues an active, value-driven investment approach, seeking to add value primarily through dynamic asset allocation and security selection.

¹Correlation is the degree to which assets or asset class prices have moved in relation to one another. Correlation ranges from -1 (always moving in opposite directions) through 0 (absolutely independent) to 1 (always move together). 

²Downside risk is the risk of the actual return being below the expected return.

³Diversification does not assure a profit or protect against loss.

A Word About Risk:

The market prices of securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, recessions, inflation, changes in interest or currency rates, lack of liquidity in the bond markets, the spread of infectious illness or other public health issues or adverse investor sentiment. 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. Investments in high-yield or lower rated securities are subject to greater-than-average price volatility, illiquidity and possibility of default. 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. The securities issued by U.S. Government sponsored entities (e.g., 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. Investing in foreign and/or emerging markets securities involves risks relating to interest rates, currency exchange rates, economic, and political conditions. 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 financial professional or Amundi US 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 Distributor US, Inc.
(Formerly 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

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