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Pioneer Short Term Income Fund pursues a high level of current income consistent with a relatively high level of stability of principal, mostly through exposure to high quality, short-term debt securities with a portion in lower quality. The Fund provides the potential to earn an attractive yield through diversification1 across a wide range of fixed income sectors.
We believe that a value approach to fixed income investing, combined with careful assessment of risk, can identify opportunities for above-average total return. Our fixed income strategies are based on extensive in-house fundamental and quantitative research. In our view, investing in primarily high quality securities with shorter durations can help protect portfolios from rising interest rates. Combining shorter-term securities with a portion of holdings in lower quality securities can also help pursue more attractive income opportunities, albeit with additional risk.
Pioneer Short Term Income Fund is a short duration strategy that invests across a diversified portfolio of mostly US government, corporate, mortgage and asset-backed securities, with a 20% limit on below-investment grade exposure.2
The Fund seeks diversification from a wide range of fixed income sectors and low correlations3 of investment grade and non-investment grade debt markets. The portfolio will combine individual security selection with an active asset allocation methodology in order to seek its best value opportunities. Our rigorous research-driven approach to security selection leverages Amundi US’s extensive global fixed income capabilities, including experienced credit and mortgage-backed securities (MBS) research teams.
Sector Allocation Chart
Amundi US Short Duration Funds
Short Term Income Fund - Overview
1 Diversification does not assure a profit or protect against loss. 2 Including securities that are in default. 3 Correlation 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 moving together).
A Word About Risk: Short Term Income Fund
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.The market price of securities may fluctuate when interest rates change. 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.The securities issued by US Government-sponsored entities (e.g., FNMA, 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.Investments in high-yield or lower rated securities are subject to greater-than-average price volatility, illiquidity and possibility of default.Investing in foreign and/or emerging markets securities involves risks relating to interest rates, currency exchange rates, economic, and political conditions.
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.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member SIPC.