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As of June 30, 2017


Bank Loans


Global High Yield

Inception Date


February 2007


December 2003

Assets Under Management


$1,500 million


$3,754 million

Investment Universe

  • US senior loans
  • US second lien loans
  • European bank loans
  • US loan credit default swap
  • US high yield
  • Non-US high yield
  • Emerging market debt

Credit Quality Range¹


BB- to B+


BB to B-



S&P/LSTA Leveraged
Performing Loan Index²


BofA Merrill Lynch Global High Yield and Emerging Markets Plus Index


Source: Pioneer Investments, June 30, 2017

¹Credit Quality Range is a range of the ratings of the underlying fixed income securities, cash and cash equivalents held in the representative account of the composite as of the date noted, as provided by Moody's Investor Service or the Standard & Poor's ("S&P") or Fitch's, as applicable. If the ratings provided by the rating agency for a security differ, the average of the ratings is included. Bond ratings are ordered highest to lowest in a portfolio. Based on S&P's measures, AAA (the highest possible rating) through BBB are considered "investment grade"; BB or lower ratings are considered non-investment grade. Cash equivalents and some bonds may not be rated.

²The Bloomberg Barclays High Yield Loans Performing Index was the Strategy’s benchmark from inception to September 30, 2016, when the Bloomberg Barclays High Yield Loans Performing Index ceased. As of October 1, 2016, the Strategy’s benchmark is the S&P/LSTA Leveraged Performing Loan Index.