Pioneer Investments launches investment-grade bond fund

By Devika Patel

Knoxville, Tenn., Jan. 8 - Pioneer Investments announced it has created the Pioneer Global Aggregate Bond Fund.

This fund, which was launched Dec. 28, will be a globally diversified, actively managed portfolio of primarily investment-grade bonds.

The fund's objective is to provide income while preserving capital and taking prudent investment risks. It will invest primarily in investment-grade domestic and international debt securities with a broad range of issuers and segments of the debt securities markets.

The fund will invest at least 40% of its assets outside the United States. In addition, no more than 20% of the fund's assets may be invested in speculative securities.

The fund's portfolio will be managed by Kenneth J. Taubes, Charles Melchreit, Raffaele Bertoni and Tanguy Le Saout, who are supported by Pioneer Investments' U.S. fixed income team in Boston and its international fixed income team in Dublin.

Taubes, who is director of U.S. fixed income in Boston, and Bertoni, who is head of European fixed income in Dublin, will jointly oversee top-down asset allocation decisions. Melchreit in Boston and Le Saout in Dublin will be responsible for security selection decisions, as well as overall portfolio implementation.

The fund's estimated net expense ratio is 1% on class A shares, after fee waivers and/or expense reimbursements.

Based in Boston, Pioneer Investments is the trade name for Pioneer Global Asset Management SpA, an investment firm, and its subsidiaries.

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