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Overview

Pioneer Strategic Income Fund is a multi-sector bond fund that invests across a broad range of global fixed income sectors, including core US investment grade, non-investment grade, non-US country, currency and floating rate asset classes. The Fund’s benchmark is the Bloomberg Barclays US Universal Index. 

 

Philosophy

The Fund adheres to three core investment tenets: value, diversification and downside risk focus.

 

Value-Driven: The Fund seeks to invest in sectors that offer attractive relative value, based on fundamentals and on spread relationships to long-term averages. Value investing seeks to capitalize on the benefits of rebalancing through dynamic allocation, which can make a significant contribution to portfolio returns over time.

 

Broad Diversification: The Fund’s diversification level seeks to benefit from incorporating a broad range of factors and sectors, which helps it pursue attractive risk-adjusted returns. Diversification available from asset classes with lower correlation3 to core sectors can help reduce volatility and downside risk.

 

Downside Risk Focus: The Fund has been successful in limiting downside risk and avoiding permanent impairment of capital has reflected its disciplined approach to limiting issuer concentrations combined with strong fundamental credit research, avoiding at-risk sectors and avoiding market value loss in rising interest rate environments. 

 

Integrated Investment Process

The Fund’s active, value-driven investment process combines top-down and bottom-up research with the insights and tools of quantitative and qualitative analysts to assess potential buy and sell candidates for the portfolio. Click to see an interactive model of our process.
 

Downside risk is the risk of the actual return being below the expected return.

Diversification does not assure a profit or protect against loss.

3 Correlation is the degree to which assets or asset class prices have moved in relation to one another. Correlation ranges from -1 (always moving in opposite directions) through 0 (absolutely independent) to 1 (always move together). 

A Word About Risk:
Investments in high yield or lower-rated securities are subject to greater-than-average price volatility, illiquidity and possibility of default. When interest rates rise, the prices of fixed income securities in the Fund will generally fall. Conversely, when interest rates fall, the prices of fixed income securities in the Fund will generally rise. Investments in the Fund are subject to possible loss due to the financial failure of issuers of underlying securities and their inability to meet their debt obligations. Prepayment risk is the chance that an issuer may exercise its right to prepay its security, if falling interest rates prompt the issuer to do so. Forced to reinvest the unanticipated proceeds at lower interest rates, the Fund would experience a decline in income and lose the opportunity for additional price appreciation. The securities issued by US government-sponsored entities (e.g., FNMA, Freddie Mac) are neither guaranteed nor issued by the US Government. The portfolio may invest in mortgage-backed securities, which during times of fluctuating interest rates may increase or decrease more than other fixed income securities. Mortgage-backed securities are also subject to pre-payments. Investing in foreign and/or emerging markets securities involves risks relating to interest rates, currency exchange rates, economic and political conditions. At times, the Fund's investments may represent industries or sectors that are interrelated or have common risks, making them more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors. These risks may increase share price volatility.   

This material is not intended to replace the advice of a qualified attorney, tax advisor, investment professional or insurance agent. Before making any financial commitment regarding the issues discussed here, consult with the appropriate professional advisor. Mutual fund investing carries risks. Investment return and principal values fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

 

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Fund Facts

Objective

High current income

 

Approach

The Fund seeks to enhance total return and significantly outperform its index, while delivering benchmark-like volatility and managing downside risk1 , through dynamic investment across a diversified2 range of global fixed income asset classes and currencies. This strategy can serve as an investor’s core fixed income allocation, while offering the potential for higher returns with its increased opportunity set. The Fund strives to achieve volatility similar to that of a core bond portfolio, due to the diversification benefits of lower-correlated asset classes. Pioneer Strategic Income Fund pursues an active, value-driven investment approach, seeking to add value primarily through dynamic asset allocation and security selection.

 

Benchmark

Bloomberg Barclays US Universal Index

 

Tickers

Class A: PSRAX
Class C: PSRCX
Class K: STRKX
Class R: STIRX
Class Y: STRYX

 

Contact us to learn more!
1-800-622-9876

Related Resources

Portfolio Management

Kenneth Taubes, EVP
Chief Investment Officer, U.S.

biography »

 

 


Andrew Feltus, CFA, SVP
Director of High Yield
and Bank Loans
Portfolio Manager

biography »

 

 


Jonathan Scott, CFA, VP
Portfolio Manager

biography »


Effective June 8, 2018, Jonathan Scott became a Portfolio Manager on the Fund.



learn more »