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Long Duration Credit Strategies

Strong risk-adjusted returns
Untitled Document

As of March 31, 2017

   

Long Duration Credit

 

Long Duration Credit-
Higher Quality

Inception Date

 

July 2014

 

December 2009

Assets Under Management

 

$50 million

 

$714 million

Investment Universe

 
  • US and non-US Treasuries and agencies
  • US taxable municipals
  • US dollar investment grade
  • Non-US investment grade
  • US dollar emerging market debt
  • Trust preferred securities
  • Preferred stock
  • Hybrid securities
  • Interest rate swaps and Treasury futures
 
  • US and non-US Treasuries and agencies
  • US taxable municipals
  • US dollar investment grade
  • Non-US investment grade
  • US dollar emerging market debt
  • Trust preferred securities
  • Preferred stock
  • Hybrid securities
  • Interest rate swaps and Treasury futures

Credit Quality Range¹

 

BB to AA

 

BBB to AA

Benchmark

 

BofA Merrill Lynch 10+ Year US Corporate Constrained Index

 

BofA Merrill Lynch 10+ Year AAA-A US Corporate 3% Constrained Index

     

Source: Pioneer Investments, March 31, 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.