Strategy Objectives

Pioneer Bank Loan Strategy employs a higher quality, value-oriented approach as compared to its benchmark, the S&P/LSTA Leveraged Performing Loan Index. The Strategy seeks to reduce the volatility of returns over time, offer increased downside risk protection, and shield against rising interest rates. Our ability to be selective and opportunistic in changing market environments allows us to quickly modify our exposure to single credits or industries.


Key Features

The Pioneer Bank Loan Strategy is managed within a strong fixed income investment culture focused on sound, fundamental research.

  • Value Approach: Assesses relative value across a broad range of fixed income sectors, seeking strong total returns by investing in mispriced sectors and securities
  • Higher Quality and Lower Volatility: Employs higher credit quality of underlying assets as a key differentiator and achieves volatility, as measured by standard deviation, historically at approximately 1% lower over three years.
  • History of Outperformance in Down Markets:¹ Outperformed both the market and its peer group median in every down market since its inception.
  • Nimble and Efficient: Provides the flexibility to make selective credit bets and ability to reject benchmark deals that may not correspond with investment objectives due to ideal strategy size
  • Downside Risk Focus: Seeks to invest in asset-rich companies, to limit downside risk, while ideal size enhances the ability to efficiently exit troubled credits
  • Experienced and Accessible Portfolio Manager: 21 years of investment experience and has overseen the Strategy since inception

¹ A down market is defined as when the stock market is falling or at its lowest level.



Strategy Fact Sheet Request Product Profile

2 The 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.


Portfolio Management

Jonathan Sharkey
Senior Vice President,
Portfolio Manager

Stratgegy Highlights

Inception Date
February 28, 2007


S&P/LSTA Leveraged Performing Loan Index²