Pioneer Investments:

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Tickers, CUSIPs
Class A: MAFRX, 72388E407
Class C: MCFRX¹, 72388E506
Class Y: MYFRX, 72388E605

To allocate opportunistically among a variety of floating rate fixed income sectors seeking income and capital appreciation

Invests in a wide range of floating rate instruments, with a focus on short durations of one year or less, and a bias towards higher-quality securities

Inception Date
April 29, 2011

BofA Merrill Lynch U.S. Dollar 3-Month LIBOR Index²


Charles Melchreit, CFA®, SVP
Director of Investment Grade
Portfolio Manager


Seth Roman, CFA®, VP
Portfolio Manager


Jonathan Sharkey, SVP
Portfolio Manager

Pioneer Multi-Asset Ultrashort Income Fund

  Overall Load-Waived Morningstar Rating™

Among 105 Ultrashort Bond peers, class A shares as of 2/28/15

Pioneer Multi-Asset Ultrashort Income Fund recently celebrated its third anniversary and earned a high rating among its Morningstar peers.

  Overall Rating 3-Year Rating 1-Year
Percentile Rank /
# of Funds
Percentile Rank /
# of Funds
Load-Waived 23%
35/152 funds
24/105 funds

The mutual fund shown may have experienced negative performance during one or more of the time periods represented by the Morningstar ratings shown.

What Makes This Fund Different?

  • Ultra Short Duration A target of one year or less seeks a measure of protection against market volatility

  • Bias Toward Higher Quality Securities Another means of risk management

  • Portfolio Management Expertise Over 20 years of combined investment experience in managing floating rate securities

  • Low Volatility Pursues NAV stability through a high level of diversification* across a number of different sectors. Management follows a diligent risk management process

  • Highly Competitive Income For investors willing to accept greater risk yet higher income than money markets or other cash-equivalent investments

*Diversification does not assure a profit or protect against a loss in a declining market.

How can the Fund help hedge against interest rate risk?

Floating Rate Securities – The Fund invests in floating rate securities which include bank loans, event-linked securities, mortgage-backed securities and money market instruments. Unlike other types of fixed income securities whose rates are fixed, the income component of floating rate securities rises as interest rates rise. This can help play an important role in an investor's total asset allocation by potentially offering protection against rising rates.

Low Volatility – The Fund is managed to pursue greater NAV stability over time than the average of the funds in the Morningstar Short-Term Bond and Intermediate-Term Bond categories.

Enhanced Income Potential – Pioneer Multi-Asset Ultrashort Income Fund seeks enhanced income versus money market accounts and CDs by offering a broad range of income opportunities. However, the Fund’s NAV can fluctuate.