Class A Shares |
Class C Shares |
Class K Shares |
Class R Shares |
Class Y Shares |
PIODX |
PCODX |
PIOKX |
PIORX |
PYODX |
1 | |
16 | |
21 | |
35 | |
38 | |
40 | |
45 | |
47 | |
55 | |
67 | |
71 | |
77 | |
80 | |
86 |
|
Class A |
Class C |
Class K |
Class R |
Class Y |
Maximum sales charge (load) when you buy shares (as a percentage of offering price) |
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Maximum deferred sales charge (load) (as a percentage of offering price or the amount you receive when you sell shares, whichever is less) |
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Class A |
Class C |
Class K |
Class R |
Class Y |
Management Fees |
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Distribution and Service (12b-1) Fees |
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Other Expenses |
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Total Annual Fund Operating Expenses |
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Less: Fee Waiver and Expense Reimbursement2 |
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- |
Net Expenses2 |
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1 |
3 |
5 |
10 |
1 |
3 |
5 |
10 |
Class A |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Class C |
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Class K |
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Class R |
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Class Y |
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1 Year |
5 Years |
10 Years |
Inception Date |
Class A |
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Return before taxes |
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Return after taxes on distributions |
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Return after taxes on distributions and sale of shares |
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Class C |
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Class K |
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Class R |
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Class Y |
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Standard & Poor’s 500 Index (reflects no deduction for fees, expenses or taxes) |
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Investment adviser |
Amundi Asset Management US, Inc. (“Amundi US”) |
Portfolio management |
Jeff Kripke, Senior Vice President of Amundi US (lead portfolio manager) (portfolio manager of the fund since 2015); Craig Sterling, Managing Director, Director of Core Equity and Head of Equity Research, US of Amundi US (portfolio manager of the fund since 2019); and James Yu, Senior Vice President and Portfolio Manager of Amundi US (portfolio manager of the fund since 2019). |
|
Sales charge as % of | |
Amount of purchase |
Offering price |
Net amount invested |
Less than $50,000 |
5.75 |
6.10 |
$50,000 but less than $100,000 |
4.50 |
4.71 |
$100,000 but less than $250,000 |
3.50 |
3.63 |
$250,000 but less than $500,000 |
2.50 |
2.56 |
$500,000 or more |
-0- |
-0- |
Receiving Bank: |
BNY Mellon, NA ABA Routing No. 011001234 BNY Mellon Investment Servicing (US) Inc. as agent FBO Amundi US Funds Consolidated Account Account 727296 |
For further credit to: |
Shareholder Name Existing Pioneer Account No. Pioneer Fund |
|
Year Ended 12/31/23 |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Year Ended 12/31/19 |
Class A |
|
|
|
|
|
Net asset value, beginning of period |
$29.27 |
$37.80 |
$34.54 |
$29.58 |
$24.76 |
Increase (decrease) from investment operations: |
|
|
|
|
|
Net investment income (loss) (a) |
$0.25 |
$0.17 |
$0.05 |
$0.16 |
$0.25 |
Net realized and unrealized gain (loss) on investments |
8.07 |
(7.49) |
9.33 |
6.81 |
7.34 |
Net increase (decrease) from investment operations |
$8.32 |
$(7.32) |
$9.38 |
$6.97 |
$7.59 |
Distributions to shareholders: |
|
|
|
|
|
Net investment income |
$(0.28) |
$(0.17) |
$(0.05) |
$(0.15) |
$(0.24) |
Net realized gain |
(0.83) |
(1.04) |
(6.07) |
(1.86) |
(2.53) |
Total distributions |
$(1.11) |
$(1.21) |
$(6.12) |
$(2.01) |
$(2.77) |
Net increase (decrease) in net asset value |
$7.21 |
$(8.53) |
$3.26 |
$4.96 |
$4.82 |
Net asset value, end of period |
$36.48 |
$29.27 |
$37.80 |
$34.54 |
$29.58 |
Total return (b) |
28.71% |
(19.47)% |
27.81% |
23.90% |
31.00% |
Ratio of net expenses to average net assets |
0.90% |
0.91% |
0.94% |
1.04% |
1.04% |
Ratio of net investment income (loss) to average net assets |
0.77% |
0.51% |
0.13% |
0.52% |
0.86% |
Portfolio turnover rate |
64% |
57% |
89% |
91% |
71% |
Net assets, end of period (in thousands) |
$6,481,231 |
$5,425,590 |
$7,196,933 |
$5,984,206 |
$5,144,683 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: |
|
|
|
|
|
Total expenses to average net assets |
0.93% |
1.00% |
1.06% |
1.08% |
1.04% |
Net investment income (loss) to average net assets |
0.74% |
0.42% |
0.01% |
0.48% |
0.86% |
(a) |
The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) |
Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
|
Year Ended 12/31/23 |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Year Ended 12/31/19 |
Class C |
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|
|
|
|
Net asset value, beginning of period |
$23.04 |
$30.10 |
$28.70 |
$24.90 |
$21.22 |
Increase (decrease) from investment operations: |
|
|
|
|
|
Net investment income (loss) (a) |
$(0.01)(b) |
$(0.07)(b) |
$(0.20)(b) |
$(0.07)(b) |
$0.01 |
Net realized and unrealized gain (loss) on investments |
6.32 |
(5.94) |
7.67 |
5.74 |
6.27 |
Net increase (decrease) from investment operations |
$6.31 |
$(6.01) |
$7.47 |
$5.67 |
$6.28 |
Distributions to shareholders: |
|
|
|
|
|
Net investment income |
$(0.10) |
$(0.01) |
$— |
$(0.01) |
$(0.07) |
Net realized gain |
(0.83) |
(1.04) |
(6.07) |
(1.86) |
(2.53) |
Total distributions |
$(0.93) |
$(1.05) |
$(6.07) |
$(1.87) |
$(2.60) |
Net increase (decrease) in net asset value |
$5.38 |
$(7.06) |
$1.40 |
$3.80 |
$3.68 |
Net asset value, end of period |
$28.42 |
$23.04 |
$30.10 |
$28.70 |
$24.90 |
Total return (c) |
27.67% |
(20.10)% |
26.79% |
22.99% |
29.92% |
Ratio of net expenses to average net assets |
1.70% |
1.70% |
1.71% |
1.81% |
1.84% |
Ratio of net investment income (loss) to average net assets |
(0.03)% |
(0.26)% |
(0.63)% |
(0.25)% |
0.05% |
Portfolio turnover rate |
64% |
57% |
89% |
91% |
71% |
Net assets, end of period (in thousands) |
$81,485 |
$70,521 |
$80,320 |
$47,608 |
$40,142 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: |
|
|
|
|
|
Total expenses to average net assets |
1.73% |
1.80% |
1.83% |
1.85% |
1.84% |
Net investment income (loss) to average net assets |
(0.06)% |
(0.36)% |
(0.75)% |
(0.29)% |
0.05% |
(a) |
The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) |
The amount shown for a share outstanding does not correspond with net investment gain (loss) in the Statement of Operations for the period due to timing of the sales and repurchase of shares. |
(c) |
Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charges. Total return would be reduced if sales charges were taken into account. |
|
Year Ended 12/31/23 |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
12/30/19* to 12/31/19 |
Class K |
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|
|
|
Net asset value, beginning of period |
$29.89 |
$38.56 |
$35.13 |
$30.04 |
$30.12 |
Increase (decrease) from investment operations: |
|
|
|
|
|
Net investment income (loss) (a) |
$0.35 |
$0.28 |
$0.19 |
$0.26 |
$0.00(b) |
Net realized and unrealized gain (loss) on investments |
8.24 |
(7.65) |
9.48 |
6.93 |
(0.08) |
Net increase (decrease) from investment operations |
$8.59 |
$(7.37) |
$9.67 |
$7.19 |
$(0.08) |
Distributions to shareholders: |
|
|
|
|
|
Net investment income |
$(0.36) |
$(0.26) |
$(0.17) |
$(0.24) |
$— |
Net realized gain |
(0.83) |
(1.04) |
(6.07) |
(1.86) |
— |
Total distributions |
$(1.19) |
$(1.30) |
$(6.24) |
$(2.10) |
$— |
Net increase (decrease) in net asset value |
$7.40 |
$(8.67) |
$3.43 |
$5.09 |
$(0.08) |
Net asset value, end of period |
$37.29 |
$29.89 |
$38.56 |
$35.13 |
$30.04 |
Total return (c) |
29.06% |
(19.22)% |
28.23% |
24.33% |
33.04%(d) |
Ratio of net expenses to average net assets |
0.61% |
0.61% |
0.61% |
0.69% |
0.67%(e) |
Ratio of net investment income (loss) to average net assets |
1.05% |
0.84% |
0.48% |
0.85% |
1.28%(e) |
Portfolio turnover rate |
64% |
57% |
89% |
91% |
71%(d) |
Net assets, end of period (in thousands) |
$25,724 |
$24,418 |
$26,995 |
$12,743 |
$13,025 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: |
|
|
|
|
|
Total expenses to average net assets |
0.65% |
0.71% |
0.73% |
0.73% |
0.67%(e) |
Net investment income (loss) to average net assets |
1.01% |
0.74% |
0.36% |
0.81% |
1.28%(e) |
* |
Class K commenced operations on December 30, 2019. |
(a) |
The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) |
Amount is less than $0.01. |
(c) |
Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
(d) |
Not annualized. |
(e) |
Annualized. |
|
Year Ended 12/31/23 |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Year Ended 12/31/19 |
Class R |
|
|
|
|
|
Net asset value, beginning of period |
$29.36 |
$37.91 |
$34.73 |
$29.74 |
$24.89 |
Increase (decrease) from investment operations: |
|
|
|
|
|
Net investment income (loss) (a) |
$0.12 |
$0.00(b) |
$(0.10)(c) |
$0.04 |
$0.13 |
Net realized and unrealized gain (loss) on investments |
8.08 |
(7.49) |
9.35 |
6.85 |
7.37 |
Net increase (decrease) from investment operations |
$8.20 |
$(7.49) |
$9.25 |
$6.89 |
$7.50 |
Distributions to shareholders: |
|
|
|
|
|
Net investment income |
$(0.14) |
$(0.02) |
$— |
$(0.04) |
$(0.12) |
Net realized gain |
(0.83) |
(1.04) |
(6.07) |
(1.86) |
(2.53) |
Total distributions |
$(0.97) |
$(1.06) |
$(6.07) |
$(1.90) |
$(2.65) |
Net increase (decrease) in net asset value |
$7.23 |
$(8.55) |
$3.18 |
$4.99 |
$4.85 |
Net asset value, end of period |
$36.59 |
$29.36 |
$37.91 |
$34.73 |
$29.74 |
Total return (d) |
28.15% |
(19.86)% |
27.28% |
23.41% |
30.45% |
Ratio of net expenses to average net assets |
1.31% |
1.41% |
1.33% |
1.44% |
1.45% |
Ratio of net investment income (loss) to average net assets |
0.36% |
0.01% |
(0.27)% |
0.13% |
0.44% |
Portfolio turnover rate |
64% |
57% |
89% |
91% |
71% |
Net assets, end of period (in thousands) |
$44,991 |
$39,076 |
$52,370 |
$49,550 |
$48,363 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: |
|
|
|
|
|
Total expenses to average net assets |
1.34% |
1.50% |
1.45% |
1.47% |
1.45% |
Net investment income (loss) to average net assets |
0.33% |
(0.08)% |
(0.39)% |
0.10% |
0.44% |
(a) |
The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) |
Amount rounds to less than $0.01 per share. |
(c) |
The amount shown for a share outstanding does not correspond with net investment gain (loss) in the Statement of Operations for the period due to timing of the sales and repurchase of shares. |
(d) |
Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
|
Year Ended 12/31/23 |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Year Ended 12/31/19 |
Class Y |
|
|
|
|
|
Net asset value, beginning of period |
$29.88 |
$38.55 |
$35.13 |
$30.04 |
$25.11 |
Increase (decrease) from investment operations: |
|
|
|
|
|
Net investment income (loss) (a) |
$0.35 |
$0.28 |
$0.19 |
$0.27 |
$0.32 |
Net realized and unrealized gain (loss) on investments |
8.25 |
(7.65) |
9.48 |
6.92 |
7.45 |
Net increase (decrease) from investment operations |
$8.60 |
$(7.37) |
$9.67 |
$7.19 |
$7.77 |
Distributions to shareholders: |
|
|
|
|
|
Net investment income |
$(0.36) |
$(0.26) |
$(0.18) |
$(0.24) |
$(0.31) |
Net realized gain |
(0.83) |
(1.04) |
(6.07) |
(1.86) |
(2.53) |
Total distributions |
$(1.19) |
$(1.30) |
$(6.25) |
$(2.10) |
$(2.84) |
Net increase (decrease) in net asset value |
$7.41 |
$(8.67) |
$3.42 |
$5.09 |
$4.93 |
Net asset value, end of period |
$37.29 |
$29.88 |
$38.55 |
$35.13 |
$30.04 |
Total return (b) |
29.11% |
(19.23)% |
28.20% |
24.33% |
31.31% |
Ratio of net expenses to average net assets |
0.61% |
0.61% |
0.61% |
0.71% |
0.81% |
Ratio of net investment income (loss) to average net assets |
1.05% |
0.84% |
0.48% |
0.84% |
1.09% |
Portfolio turnover rate |
64% |
57% |
89% |
91% |
71% |
Net assets, end of period (in thousands) |
$960,805 |
$978,738 |
$998,552 |
$378,626 |
$107,783 |
Ratios with no waiver of fees and assumption of expenses by the Adviser and no reduction for fees paid indirectly: |
|
|
|
|
|
Total expenses to average net assets |
0.75% |
0.82% |
0.81% |
0.83% |
0.81% |
Net investment income (loss) to average net assets |
0.91% |
0.63% |
0.28% |
0.72% |
1.09% |
(a) |
The per-share data presented above is based on the average shares outstanding for the period presented. |
(b) |
Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions and the complete redemption of the investment at net asset value at the end of each period. |
|
|
Amundi Distributor US, Inc. 60 State Street Boston, MA 02109 amundi.com/us |
19301-20-0524 ©2024 Amundi Distributor US, Inc. Member SIPC |
Class A Shares |
Class C Shares |
Class K Shares |
Class R Shares |
Class Y Shares |
PIODX |
PCODX |
PIOKX |
PIORX |
PYODX |
1. |
1 | |
2. |
1 | |
3. |
31 | |
4. |
42 | |
5. |
46 | |
6. |
48 | |
7. |
49 | |
8. |
49 | |
9. |
49 | |
10. |
52 | |
11. |
53 | |
12. |
56 | |
13. |
61 | |
14. |
62 | |
15. |
63 | |
16. |
64 | |
17. |
71 | |
18. |
71 | |
19. |
77 | |
20. |
90 |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Independent Trustees: |
|
|
|
Thomas J. Perna (73) Chairman of the Board and Trustee |
Trustee since 2006. Serves until a successor trustee is elected or earlier retirement or removal. |
Private investor (2004 – 2008 and 2013 – present); Chairman (2008 – 2013) and Chief Executive Officer (2008 – 2012), Quadriserv, Inc. (technology products for securities lending industry); and Senior Executive Vice President, The Bank of New York (financial and securities services) (1986 – 2004) |
Director, Broadridge Financial Solutions, Inc. (investor communications and securities processing provider for financial services industry) (2009 – 2023); Director, Quadriserv, Inc. (2005 – 2013); and Commissioner, New Jersey State Civil Service Commission (2011 – 2015) |
John E. Baumgardner, Jr. (73)* Trustee |
Trustee since 2019. Serves until a successor trustee is elected or earlier retirement or removal. |
Of Counsel (2019 – present), Partner (1983-2018), Sullivan & Cromwell LLP (law firm). |
Chairman, The Lakeville Journal Company, LLC, (privately-held community newspaper group) (2015-present) |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Diane Durnin (67) Trustee |
Trustee since 2019. Serves until a successor trustee is elected or earlier retirement or removal. |
Managing Director - Head of Product Strategy and Development, BNY Mellon Investment Management (investment management firm) (2012-2018); Vice Chairman – The Dreyfus Corporation (2005 – 2018): Executive Vice President Head of Product, BNY Mellon Investment Management (2007-2012); Executive Director- Product Strategy, Mellon Asset Management (2005-2007); Executive Vice President Head of Products, Marketing and Client Service, Dreyfus Corporation (investment management firm) (2000-2005); Senior Vice President Strategic Product and Business Development, Dreyfus Corporation (1994-2000) |
None |
Benjamin M. Friedman (79) Trustee |
Trustee since 2008. Serves until a successor trustee is elected or earlier retirement or removal. |
William Joseph Maier Professor of Political Economy, Harvard University (1972 – present) |
Trustee, Mellon Institutional Funds Investment Trust and Mellon Institutional Funds Master Portfolio (oversaw 17 portfolios in fund complex) (1989 - 2008) |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Craig C. MacKay (61) Trustee |
Trustee since 2021. Serves until a successor trustee is elected or earlier retirement or removal. |
Partner, England & Company, LLC (advisory firm) (2012 – present); Group Head – Leveraged Finance Distribution, Oppenheimer & Company (investment bank) (2006 – 2012); Group Head – Private Finance & High Yield Capital Markets Origination, SunTrust Robinson Humphrey (investment bank) (2003 – 2006); and Founder and Chief Executive Officer, HNY Associates, LLC (investment bank) (1996 – 2003) |
Director, Equitable Holdings, Inc. (financial services holding company) (2022 – present); Board Member of Carver Bancorp, Inc. (holding company) and Carver Federal Savings Bank, NA (2017 – present); Advisory Council Member, MasterShares ETF (2016 – 2017); Advisory Council Member, The Deal (financial market information publisher) (2015 – 2016); Board Co-Chairman and Chief Executive Officer, Danis Transportation Company (privately-owned commercial carrier) (2000 – 2003); Board Member and Chief Financial Officer, Customer Access Resources (privately-owned teleservices company) (1998 – 2000); Board Member, Federation of Protestant Welfare Agencies (human services agency) (1993 – present); and Board Treasurer, Harlem Dowling Westside Center (foster care agency) (1999 – 2018) |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Lorraine H. Monchak (68) Trustee |
Trustee since 2017. (Advisory Trustee from 2014 - 2017). Serves until a successor trustee is elected or earlier retirement or removal. |
Chief Investment Officer, 1199 SEIU Funds (healthcare workers union pension funds) (2001 – present); Vice President – International Investments Group, American International Group, Inc. (insurance company) (1993 – 2001); Vice President Corporate Finance and Treasury Group, Citibank, N.A.(1980 – 1986 and 1990 – 1993); Vice President – Asset/Liability Management Group, Federal Farm Funding Corporation (government-sponsored issuer of debt securities) (1988 – 1990); Mortgage Strategies Group, Shearson Lehman Hutton, Inc. (investment bank) (1987 – 1988); Mortgage Strategies Group, Drexel Burnham Lambert, Ltd. (investment bank) (1986 – 1987) |
None |
Fred J. Ricciardi (77) Trustee |
Trustee since 2014. Serves until a successor trustee is elected or earlier retirement or removal. |
Private investor (2020 – present); Consultant (investment company services) (2012 – 2020); Executive Vice President, BNY Mellon (financial and investment company services) (1969 – 2012); Director, BNY International Financing Corp. (financial services) (2002 – 2012); Director, Mellon Overseas Investment Corp. (financial services) (2009 – 2012); Director, Financial Models (technology) (2005-2007); Director, BNY Hamilton Funds, Ireland (offshore investment companies) (2004-2007); Chairman/Director, AIB/BNY Securities Services, Ltd., Ireland (financial services) (1999-2006); Chairman, BNY Alternative Investment Services, Inc. (financial services) (2005-2007) |
None |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Interested Trustee: |
|
|
|
Lisa M. Jones (62)** Trustee, President and Chief Executive Officer |
Trustee since 2017. Serves until a successor trustee is elected or earlier retirement or removal |
Director, CEO and President of Amundi US, Inc. (investment management firm) (since September 2014); Director, CEO and President of Amundi Asset Management US, Inc. (since September 2014); Director, CEO and President of Amundi Distributor US, Inc. (since September 2014); Director, CEO and President of Amundi Asset Management US, Inc. (since September 2014); Chair, Amundi US, Inc., Amundi Distributor US, Inc. and Amundi Asset Management US, Inc. (September 2014 – 2018); Managing Director, Morgan Stanley Investment Management (investment management firm) (2010 – 2013); Director of Institutional Business, CEO of International, Eaton Vance Management (investment management firm) (2005 – 2010); Director of Amundi Holdings US, Inc. (since 2017) |
Director of Clearwater Analytics (provider of web-based investment accounting software for reporting and reconciliation services) (September 2022 – present) |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Trustee During At Least The Past Five Years |
Advisory Trustee: |
|
|
|
Marguerite A. Piret (75)*** Advisory Trustee |
Advisory Trustee since January 2024 (Trustee from 1982 to January 2024). |
Chief Financial Officer, American Ag Energy, Inc. (technology for the environment, energy and agriculture) (2019 – present); Chief Operating Officer, North Country Growers LLC (controlled environment agriculture company) (2020 – present); Chief Executive Officer, Green Heat LLC (biofuels company) (2022 – present); President and Chief Executive Officer, Newbury Piret Company (investment banking firm) (1981 – 2019) |
Director of New America High Income Fund, Inc. (closed-end investment company) (2004 – present); and Member, Board of Governors, Investment Company Institute (2000 – 2006) |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Officer During At Least The Past Five Years |
Fund Officers: |
|
|
|
Marco Pirondini (57) Executive Vice President |
Since January 2024. Serves at the discretion of the Board |
Executive Vice President and Chief Investment Officer of Amundi Asset Management US, Inc. since January 2024; Senior Managing Director and Head of Equities U.S. of Amundi US from 2010 to December 2023 |
None |
Christopher J. Kelley (59) Secretary and Chief Legal Officer |
Since 2003. Serves at the discretion of the Board |
Senior Vice President and Deputy General Counsel of Amundi US since March 2024; Vice President and Associate General Counsel of Amundi US from January 2008 to March 2024; Secretary and Chief Legal Officer of all of the Pioneer Funds since June 2010; Assistant Secretary of all of the Pioneer Funds from September 2003 to May 2010; Vice President and Senior Counsel of Amundi US from July 2002 to December 2007 |
None |
Thomas Reyes (61) Assistant Secretary |
Since 2010. Serves at the discretion of the Board |
Associate General Counsel of Amundi US since March 2023; Assistant Secretary of all the Pioneer Funds since June 2010; Assistant General Counsel of Amundi US from May 2013 to March 2023 and Counsel of Amundi US from June 2007 to May 2013 |
None |
Heather L. Melito-Dezan (47) Assistant Secretary |
Since 2022. Serves at the discretion of the Board |
Director - Trustee and Board Relationships of Amundi US since September 2019; Assistant Secretary of Amundi US, Inc. since July 2020: Assistant Secretary of Amundi Asset Management US, Inc. since July 2020: Assistant Secretary of Amundi Distributor US, Inc. since July 2020; Assistant Secretary of all the Pioneer Funds since September 2022; Private practice from 2017 – 2019. |
None |
Name, Age and Position Held With the Fund |
Term of Office and Length of Service |
Principal Occupation(s) During At Least The Past Five Years |
Other Directorships Held by Officer During At Least The Past Five Years |
Anthony J. Koenig, Jr. (60) Treasurer and Chief Financial and Accounting Officer |
Since 2021. Serves at the discretion of the Board |
Managing Director, Chief Operations Officer and Fund Treasurer of Amundi US since May 2021; Treasurer of all of the Pioneer Funds since May 2021; Assistant Treasurer of all of the Pioneer Funds from January 2021 to May 2021; and Chief of Staff, US Investment Management of Amundi US from May 2008 to January 2021 |
None |
Luis I. Presutti (59) Assistant Treasurer |
Since 2000. Serves at the discretion of the Board |
Director – Fund Treasury of Amundi US since 1999; and Assistant Treasurer of all of the Pioneer Funds since 1999 |
None |
Gary Sullivan (66) Assistant Treasurer |
Since 2002. Serves at the discretion of the Board |
Senior Manager – Fund Treasury of Amundi US since 2012; and Assistant Treasurer of all of the Pioneer Funds since 2002 |
None |
Antonio Furtado (42) Assistant Treasurer |
Since 2020. Serves at the discretion of the Board |
Fund Oversight Manager – Fund Treasury of Amundi US since 2020; Assistant Treasurer of all of the Pioneer Funds since 2020; and Senior Fund Treasury Analyst from 2012 - 2020 |
None |
Michael Melnick (53) Assistant Treasurer |
Since 2021. Serves at the discretion of the Board |
Vice President - Deputy Fund Treasurer of Amundi US since May 2021; Assistant Treasurer of all of the Pioneer Funds since July 2021; Director of Regulatory Reporting of Amundi US from 2001 – 2021; and Director of Tax of Amundi US from 2000 - 2001 |
None |
John Malone (53) Chief Compliance Officer |
Since 2018. Serves at the discretion of the Board |
Managing Director, Chief Compliance Officer of Amundi US Asset Managementt; Amundi Asset Management US, Inc.; and the Pioneer Funds since September 2018; Chief Compliance Officer of Amundi Distributor US, Inc. since January 2014. |
None |
Brandon Austin (52) Anti-Money Laundering Officer |
Since 2022. Serves at the discretion of the Board |
Director, Financial Security – Amundi Asset Management; Anti-Money Laundering Officer of all the Pioneer Funds since March 2022: Director of Financial Security of Amundi US since July 2021; Vice President, Head of BSA, AML and OFAC, Deputy Compliance Manager, Crédit Agricole Indosuez Wealth Management (investment management firm) (2013 – 2021) |
None |
For the Performance Period |
Fund’s Investment Performance |
Index’s Cumulative Change |
Fund’s Performance Relative to the Index |
First day |
$10 |
100 |
|
Last day |
$13 |
123 |
|
Absolute change |
+$3 |
+$23 |
|
Actual change |
+30% |
+23% |
+7 percentage points |
For the Performance Period |
Fund’s Investment Performance |
Index’s Cumulative Change |
Fund’s Performance Relative to the Index |
First day |
$10 |
100 |
|
Last day |
$11 |
120 |
|
Absolute change |
+$1 |
+$20 |
|
Actual change |
+10% |
+20% |
−10 percentage points |
Class |
Applicable Percentage Per Annum |
Class A |
0.25% |
Class C |
1.00% |
Class R |
0.50% |
Name of Portfolio Manager |
Type of Account |
Number of Accounts Managed |
Total Assets Managed (000’s) |
Number of Accounts Managed for which Advisory Fee is Performance- Based |
Assets Managed for which Advisory Fee is Performance- Based (000’s) |
Jeff Kripke |
Other Registered Investment Companies |
1 |
$127,537 |
N/A |
N/A |
|
Other Pooled Investment Vehicles |
4 |
$5,100,262 |
1 |
$3,846,129 |
|
Other Accounts |
11 |
$2,204,379 |
N/A |
N/A |
Craig Sterling |
Other Registered Investment Companies |
4 |
$4,325,153 |
N/A |
N/A |
|
Other Pooled Investment Vehicles |
7 |
$6,332,564 |
4 |
$5,089,990 |
|
Other Accounts |
12 |
$2,327,911 |
N/A |
N/A |
James Yu |
Other Registered Investment Companies |
1 |
$127,537 |
N/A |
N/A |
|
Other Pooled Investment Vehicles |
4 |
$5,100,262 |
1 |
$3,846,129 |
|
Other Accounts |
11 |
$2,204,379 |
N/A |
N/A |
Name of Portfolio Manager |
Beneficial Ownership of the Fund* |
Jeff Kripke |
A** |
Craig Sterling |
A** |
James Yu |
A** |
A. |
None |
B. |
$1 – $10,000 |
C. |
$10,001 – $50,000 |
D. |
$50,001 – $100,000 |
E. |
$100,001 – $500,000 |
F. |
$500,001 – $1,000,000 |
G. |
Over $1,000,000 |
|
Sales Charge as a % of | ||
Amount of Purchase |
Offering Price |
Net Amount Invested |
Dealer Reallowance |
Less than $50,000 |
5.75 |
6.10 |
5.00 |
$50,000 but less than $100,000 |
4.50 |
4.71 |
4.00 |
$100,000 but less than $250,000 |
3.50 |
3.63 |
3.00 |
$250,000 but less than $500,000 |
2.50 |
2.56 |
2.00 |
$500,000 or more |
0.00 |
0.00 |
see below |
1.00% |
Up to $4 million |
0.50% |
Greater than $4 million and less than or equal to $50 million |
0.25% |
Over $50 million |
2023 |
2022 |
64% |
57% |
Record Holder |
Share Class |
Number of Shares |
% of Class |
Edward D Jones & Co for the benefit of Customers 12555 Manchester Rd Saint Louis, MO 63103-2523 |
Class A |
9,199,744.745 |
5.27 |
Raymond James Omnibus for Mutual Funds Attn: Courtney Waller 880 Carillon Pkwy St. Petersburg, FL 33716 |
Class C |
266,031.734 |
9.43 |
Pershing LLC 1 Pershing Plz Jersey City NJ 07399-0001 |
Class C |
353,524.411 |
12.53 |
Wells Fargo Clearing Services LLC Special Custody Acct for the Exclusive Benefit of Customer 2801 Market St Saint Louis MO 63103-2523 |
Class C |
419,368.859 |
14.86 |
American Enterprise Investment SVC For the Exclusive Benefit of Our Clients 707 2nd Ave. S. Minneapolis, MN 55402 |
Class C |
151,946.742 |
5.38 |
Charles Schwab & Co Inc Special Custody A/C FBO Customers Attn Mutual Funds 211 Main Street San Francisco CA 94105-1905 |
Class C |
261,442.562 |
9.26 |
Morgan Stanley Smith Barney Exclusive Benefit of its Cust 1 New York Plz Fl 12 New York NY 10004-1932 |
Class C |
240,828.779 |
8.53 |
Edward D Jones & Co for the benefit of Customers 12555 Manchester Rd Saint Louis, MO 63103-2523 |
Class K |
507,541.298 |
68.20 |
Pioneer Solutions-Balanced Fund 60 State Street Boston MA 02109 |
Class K |
99,921.552 |
13.43 |
Mid-Atlantic Trust Company FBO Hinkle Law Firm 401K Employee 1251 Waterfront Place, Suite 525 Pittsburgh PA 15222 |
Class K |
41,895.710 |
5.63 |
JP Morgan Securities LLC Omnibus Account For the Exclusive Benefit of Customers 4 Chase Metrotech Ctr 3rd Fl Mutual Fund Department Brooklyn, NY 11245 |
Class K |
46,063.758 |
6.19 |
Talcott Resolution Life Insurance Company P.O. Box 5051 Hartford, CT 06102 |
Class R |
416,985.820 |
33.63 |
Voya Retirement Insurance and Annuity Company One Orange Way B3N Windsor, CT 06095-4773 |
Class R |
175,606.865 |
14.16 |
Record Holder |
Share Class |
Number of Shares |
% of Class |
Sammons Financial Network LLC 4546 Corporate Dr Ste 100 WDM IA 50266-5911 |
Class R |
146,172.390 |
11.79 |
LPL Financial —Omnibus Customer Account— Attn: Mutual Fund Trading 4707 Executive Dr San Diego CA 92121-3091 |
Class Y |
3,192,274.678 |
12.27 |
Pershing LLC 1 Pershing Plz Jersey City NJ 07399-0001 |
Class Y |
1,579,458.995 |
6.07 |
National Financial Services LLC For Exclusive Benefit Of Our Customers 499 Washington Blvd Attn Mutual Funds Dept 4th Floor Jersey City, NJ 07310 |
Class Y |
2,780,295.663 |
10.69 |
American Enterprise Investment SVC For the Exclusive Benefit of Our Clients 707 2nd Ave. S. Minneapolis, MN 55402 |
Class Y |
2,646,469.689 |
10.17 |
Raymond James Omnibus for Mutual Funds Attn: Courtney Waller 880 Carillon Pkwy St. Petersburg, FL 33716 |
Class Y |
3,344,469.580 |
12.85 |
Morgan Stanley Smith Barney Harborside Financial Center Plaza 2, 3rd Floor Jersey City NJ 07311 |
Class Y |
2,559,386.872 |
9.84 |
SEI Private Trust Company C/O Choate SWP 1 Freedom Valley Drive Oaks PA 19456-9989 |
Class Y |
1,534,394.630 |
5.90 |
Charles Schwab & Co Inc Special Custody A/C FBO Customers Attn Mutual Funds 211 Main Street San Francisco CA 94105-1905 |
Class Y |
1,458,141.421 |
5.60 |
Name of Trustee |
Dollar Range of Equity Securities in the Fund |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by Trustee in the Pioneer Family of Funds |
Interested Trustee: |
|
|
Lisa M. Jones |
Over $100,000 |
Over $100,000 |
Independent Trustees: |
|
|
John E. Baumgardner, Jr. |
$10,001 - $50,000 |
Over $100,000 |
Diane Durnin |
Over $100,000 |
Over $100,000 |
Benjamin M. Friedman |
Over $100,000 |
Over $100,000 |
Craig C. MacKay |
$50,001 - $100,000 |
Over $100,000 |
Lorraine H. Monchak |
None |
Over $100,000 |
Thomas J. Perna |
None |
Over $100,000 |
Marguerite A. Piret* |
$1 - $10,000 |
Over $100,000 |
Fred J. Ricciardi |
None |
Over $100,000 |
Name of Trustee |
Aggregate Compensation from Fund** |
Pension or Retirement Benefits Accrued as Part of Fund Expenses |
Total Compensation from the Fund and Other Pioneer Funds** |
Interested Trustees: |
|
|
|
Lisa M. Jones* |
$0.00 |
$0.00 |
$0.00 |
Kenneth J. Taubes*** |
$0.00 |
$0.00 |
$0.00 |
Independent Trustees: |
|
|
|
John E. Baumgardner, Jr. |
$49,267.85 |
$0.00 |
$312,100.00 |
Diane Durnin |
$47,014.25 |
$0.00 |
$299,762.00 |
Benjamin M. Friedman |
$53,381.99 |
$0.00 |
$334,275.00 |
Craig C. MacKay |
$46,621.00 |
$0.00 |
$297,262.00 |
Lorraine H. Monchak |
$54,325.12 |
$0.00 |
$339,438.00 |
Thomas J. Perna |
$65,770.81 |
$0.00 |
$402,100.00 |
Marguerite A. Piret**** |
$48,662.67 |
$0.00 |
$308,438.00 |
Fred J. Ricciardi |
$53,245.28 |
$0.00 |
$333,938.00 |
TOTAL |
$418,288.96 |
$0.00 |
$2,627,313.00 |
For the Fiscal Years Ended December 31 |
2023 |
2022 |
2021 |
Gross Fee Incurred |
$41,229,345 |
$46,556,526 |
$50,208,330 |
Net Fee Paid |
$38,680,938 |
$39,816,895 |
$41,476,008 |
For the Fiscal Years Ended December 31 | ||
2023 |
2022 |
2021 |
$2,734,941 |
$2,650,590 |
$2,707,517 |
For the Fiscal Years Ended December 31 |
2023 |
2022 |
2021 |
Approximate Net Underwriting Expenses Retained by Amundi Distributor US, Inc. |
$247,545 |
$327,763 |
$444,024 |
Approximate Commissions Reallowed to Dealers (Class A shares) |
$1,548,804 |
$2,084,745 |
$2,446,572 |
Approximate Brokerage and Underwriting Commissions (Portfolio Transactions) |
$2,463,281 |
$1,870,922 |
$2,968,753 |
For the Fiscal Year Ended December 31, 2023 | ||||
Combined Plan |
Class A Plan |
Class C Plan |
Class R Plan |
|
$15,510,524 |
$14,556,670 |
$746,011 |
$207,843 |
|
|
Payments to Servicing Parties1 |
Advertising |
Sales Meetings |
Printing and Mailing |
Total |
Class A |
$14,405,149 |
$23,810 |
$104,894 |
$22,817 |
$14,556,670 |
Class C |
$611,473 |
$21,457 |
$92,400 |
$20,681 |
$746,011 |
Class R |
$207,823 |
$3 |
$14 |
$3 |
$207,843 |
Name |
Debt \ Equity |
(000’s) |
None |
|
|
(a)(1) |
|
(a)(2) |
|
(b) |
|
(c) |
See Amended and Restated Declaration of Trust and Amended and Restated By-Laws cited under Items 28(a)(1) and 28(b) |
(d) |
|
(e)(1) |
|
(e)(2) |
|
(f) |
None |
(g) |
|
(g)(2) |
|
(h)(1) |
|
(h)(2) |
|
(h)(3) |
|
(h)(4) |
|
(h)(5) |
|
(h)(6) |
|
(h)(7) |
|
(i) |
|
(j) |
|
(k) |
None |
(l) |
None |
(m)(1) |
|
(m)(2) |
|
(n) |
|
(o) |
Not applicable |
(p) |
|
N/A |
|
N/A |
|
N/A |
Name |
Positions and Offices with Underwriter |
Positions and Offices with Fund |
Patrice Blanc |
Director, Executive Vice President and Chief Operating Officer, Americas |
None |
Lisa M. Jones |
Director, Chairman, President and Chief Executive Officer |
President and Trustee |
Jason C. Xanthakis |
Director, Senior Managing Director and Head of Global Intermediary Distribution |
None |
Tracy L. Connelly |
Managing Director and Chief Administration Officer, US, Intermediary Distribution |
None |
Gregg M. Dooling |
Senior Managing Director and Chief Financial Officer, Americas |
None |
John D. Johnson |
Managing Director and General Counsel |
None |
John M. Malone |
Managing Director and Chief Compliance Officer |
Chief Compliance Officer |
Patrick D. Grecco |
Senior Vice President and Deputy Financial Officer & Corporate Treasurer |
None |
Signature |
Title |
Date |
/s/ Lisa M. Jones Lisa M. Jones |
President (Principal Executive Officer) and Trustee |
|
Anthony J. Koenig, Jr. Anthony J. Koenig, Jr. |
Treasurer (Principal Financial and Accounting Officer) |
|
John E. Baumgardner, Jr.* John E. Baumgardner, Jr. |
Trustee |
|
Diane Durnin* Diane Durnin |
Trustee |
|
Benjamin M. Friedman* Benjamin M. Friedman |
Trustee |
|
Craig C. MacKay* Craig C. MacKay |
Trustee |
|
Lorraine H. Monchak* Lorraine H. Monchak |
Trustee |
|
Thomas J. Perna* Thomas J. Perna |
Chairman of the Board and Trustee |
|
Fred J. Ricciardi* Fred J. Ricciardi |
Trustee |
|
*By: /s/ Lisa M. Jones Lisa M. Jones Attorney-In-Fact |
|
April 25, 2024 |