Strategy

FUND STRATEGY The Fund seeks high current income, preservation of capital and liquidity by investing in high quality short-term securities.

A WORD ABOUT RISK

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. Investing in foreign and/or emerging market securities involves risks relating to interest rates, currency exchange rates, economic, and political conditions. These risks may increase share price volatility.

Fund Facts

As of June 30, 2010

Class	A Shares	B Shares	C Shares	R Shares	Y Shares*
CUSIP	723755104	723755401	723755500	723755708	723755609
Nasdaq Symbol	PMTXX	PBTXX	PSVXX	PCHXX	PRYXX
Inception Date	6/22/1987	3/31/1995	1/31/1996	6/22/1987	6/22/1987
Total Net Assets (millions)	$611.7	$33.5	$98.8	$5.4	$20.2
Initial Minimum Investment	$1,000	$1,000	$1,000	$0	$5,000,000
Management Fee	0.40%	0.40%	0.40%	0.40%	0.40%
Total Expense Ratio (Gross)	0.76%	1.85%	1.74%	1.40%	0.50%
Total Expense Ratio (Net)	0.70%	1.85%	1.74%	1.40%	0.45%

Initial minimum investment amounts for retirement plans are lower. *Class Y shares are not subject to sales charges and are available for limited groups of investors, including institutional investors. The Net Expense ratio reflects contractual expense limitations currently in effect through 6/1/2011 and 6/1/2011 for Class A and Y Shares, respectively. There can be no assurance that Pioneer will extend the expense limitations beyond such time. Please see the prospectus and financial statements for more information.

Portfolio Characteristics

As of June 30, 2010

7-day SEC Yield Class A Class B Class C Class R Class Y 0.01% 0.01% 0.01% 0.01% 0.01% Average Life of Securities 23 Days

Based on the latest seven days as of the period's end with dividends annualized. The yield quotation more closely reflects the current earnings of the Money Market portfolio than the total return quotation.

For a full list of fund holdings, click here.

Portfolio Management

Seth Roman, Portfolio Manager
Mr. Roman joined Pioneer as a portfolio manager in March 2006 and has been an investment professional since 1995.

Not FDIC insured

May lose value

No bank guarantee

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus containing this information. Read it carefully. To obtain a free prospectus and for information on any Pioneer fund, please download from our web site.