A Flexible and Diversified* Approach to Income Generation
With yields today near record lows and volatility rising, we believe that it is vital to offer a solution to investors who are concerned about the long-term outlook for bonds a strategy that can generate income from a variety of sources.
The Fund has the flexibility to invest in a broad range of income-producing investments, including bonds and other debt securities, dividend-paying** equities and convertible securities.
Portfolio management may seek opportunities in the securities of issuers globally, including in emerging markets.
The Fund can employ various hedging techniques to strive to reduce overall portfolio risk in a changing market environment. These techniques can include selling equity and currency futures, as well as taking positions in volatility futures.
* Diversification does not assure a profit or protect against a loss in a declining market.
** Dividends are not guaranteed.
The Pioneer Difference
Today's more challenging environment demands an investment strategy that can help investors pursue their income goals across varying rate cycles and market conditions.
The Fund's portfolio managers, Marco Pirondini, Tracy Wright, Charles Melchreit and Michele Garau are industry veterans who bring depth of experience in the equity and fixed income markets, as well as asset allocation expertise.
They work with a preeminent credit research team with a long record of managing risk for investors across a wide range of credit cycles.
Our ability to invest across a range of asset classes allows us to invest in securities that we believe can generate income in multiple market environments - even during volatile periods - unlike more limited strategies that do not have the flexibility to invest in such a broad range of securities.
Why Consider Pioneer Multi-Asset Income Fund?
The Fund invests globally to seek attractive yield and total return through a diverse range of opportunities.
The flexible, multi-asset approach helps investors pursue diversification.
Portfolio management actively allocates by rebalancing the portfolio regularly based on their evaluation of the current market environment.
1. Barclays Aggregate Bond Index is a measure of the U.S. bond market. Indices are unmanaged and their returns assume reinvestment of dividends, and unlike Fund returns, do not reflect any fees or expenses. You cannot invest directly in an index.
A Word About Risk:
All investments are subject to risk, including the possible loss of principal. Pioneer Multi-Asset Income ("MAI") Fund has the ability to invest in a wide variety of securities and asset classes. High yield bonds possess greater price volatility, illiquidity, and possibility of default. Investments in fixed income securities involve interest rate, credit, inflation, and reinvestment risks. As interest rates rise, the value of fixed income securities falls. 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 Fund 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. The Fund may invest in subordinated securities which may be disproportionately adversely affected by a default or even a perceived decline in creditworthiness of the issuer. International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The Fund may invest in inflation-linked securities. As inflationary expectations increase, inflation-linked securities may become more attractive, because they protect future interest payments against inflation. Conversely, as inflationary concerns decrease, inflation-linked securities will become less attractive and less valuable. The Fund may invest in event-linked bonds. The return of principal and the payment of interest on event-linked bonds are contingent on the non-occurrence of a pre-defined "trigger" event, such as a hurricane or an earthquake of a specific magnitude. The Fund may invest in floating rate loans. The value of collateral, if any, securing a floating rate loan can decline or may be insufficient to meet the issuer's obligations or may be difficult to liquidate. The Fund may invest in underlying funds (ETFs and unit investment trusts). In addition to the Fund's operating expenses, you will indirectly bear the operating expenses of investments in any underlying funds. Investments in equity securities are subject to price fluctuation. Small-and mid-cap stocks involve greater risks and volatility than large-cap stocks. The Fund may invest in Master Limited Partnerships, which are subject to increased risks of liquidity, price valuation, control, voting rights and taxation. In addition, the structure affords fewer protections to investors in the Partnership than direct investors in a corporation. The Fund may invest in zero coupon bonds and payment in kind securities, which may be more speculative and fluctuate more in value than other fixed income securities. The accrual of income from these securities are payable as taxable annual dividends to shareholders. The Fund and some of the underlying funds may use derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. The Fund may invest in credit default swaps, which may in some cases be illiquid, and they increase credit risk since the fund has exposure to both the issuer of the referenced obligation and the counterparty to the credit default swap. The Fund and some of the underlying funds employ leverage, which increases the volatility of investment returns and subjects the Fund to magnified losses if an underlying fund's investments decline in value.
These risks may increase share price volatility. There is no assurance that these and other strategies used by the Fund or underlying funds will be successful.
Please see the prospectus for a more complete discussion of the Fund's risks.
Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments 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, pleasedownload it here.
Neither Pioneer, nor its representatives are legal or tax advisors. In addition, Pioneer does not provide advice or recommendations. The investments you choose should correspond to your financial needs, goals, and risk tolerance. For assistance in determining your financial situation, please consult an investment professional.