Amundi Pioneer Asset Management today announced the declaration of dividends for five Pioneer closed-end funds for November.
|Ex Date:||November 15, 2017|
|Record Date:||November 16, 2017|
|Payable:||November 30, 2017 (HNW, PHT, MAV, MHI)|
|December 1, 2017 (PHD)|
|HNW*||Pioneer Diversified High Income Trust||$0.0950||-$0.0200|
|PHD||Pioneer Floating Rate Trust||$0.0600||-|
|PHT||Pioneer High Income Trust||$0.0650||-|
|MAV**||Pioneer Municipal High Income Advantage Trust||$0.0525||+$0.0025|
|MHI**||Pioneer Municipal High Income Trust||$0.0525||+$0.0025|
|Pioneer Diversified High Income Trust||$16.22||7.03%||$17.45||6.53%|
|Pioneer Floating Rate Trust||$11.92||6.04%||$12.49||5.76%|
|Pioneer High Income Trust||$9.96||7.83%||$10.89||7.16%|
|Pioneer Municipal High Income Advantage Trust||$11.34||5.29%||$11.89||5.30%|
|Pioneer Municipal High Income Trust||$11.71||5.38%||$12.78||4.93%|
*The November distribution rate for HNW of $0.0950 per share represents a 17.4% decrease from the $0.1150 distribution paid by the Fund in October. The Fund’s income was affected by the allocation to insurance-linked securities, which detracted from performance due to insurance losses from the active hurricane season. We believe the allocation to insurance-linked securities continues to be an attractive component of the Fund’s strategy, based on the potential long-term diversification and return benefits associated with this asset class.
**The November distribution rates for each of MAV and MHI of $0.0525 per share represent a 5.0% increase from the $0.0500 distribution paid by each fund in October. Changes in the interest rate environment in the municipal bond market have allowed portions of the portfolios to be repositioned into higher yielding securities, resulting in increased income.
The closing market price and NAV are based on data as of November 2, 2017. The Market Price Distribution Rate is calculated by dividing the latest declared monthly distribution per share (annualized) by the market price. The NAV Distribution Rate is calculated by dividing the latest declared monthly distribution per share (annualized) by the NAV per share.
All funds are closed-end investment companies. PHD, PHT, MHI and MAV trade on the New York Stock Exchange (NYSE).
HNW trades on the NYSEAM.
Amundi Pioneer Asset Management, Inc. is each fund’s investment adviser. On July 3, 2017, the name of the adviser was changed from Pioneer Investment Management, Inc., coinciding with its acquisition by Amundi. As a result of the transaction, Amundi Pioneer Asset Management, Inc. became an indirect wholly owned subsidiary of Amundi. Amundi, one of the world’s largest asset managers, is headquartered in Paris, France.
Keep in mind, distribution rates are not guaranteed. A fund’s distribution rate may be affected by numerous factors, including changes in actual or projected investment income, the level of undistributed net investment income, if any, and other factors. Shareholders should not draw any conclusions about a fund’s investment performance based on a fund’s current distributions. Closed-end funds, unlike open-end funds, are not continuously offered. Once issued, common shares of closed-end funds are bought and sold in the open market through a stock exchange and frequently trade at prices lower than their net asset value. Net Asset Value (NAV) is total assets less total liabilities divided by the number of common shares outstanding. For performance data on Amundi Pioneer's closed-end funds, please call 800-225-6292 or visit our closed-end pricing page.
About Amundi Pioneer Asset Management
Amundi Pioneer Asset Management (Amundi Pioneer) references the U.S. business of the Amundi group of companies, Europe’s largest asset manager by assets under management and among the top ten global asset managers1. Amundi Pioneer was formed in 2017 as part of the acquisition of Pioneer Investments by Amundi, and includes the operations of Amundi Pioneer Asset Management USA, Inc., based in Boston, and Amundi Smith Breeden, based in Durham, N.C. Incorporating the expertise of the regional hub in Durham, Boston is one of Amundi’s six main investment hubs. In addition to investment management activities, Amundi Pioneer offers and services a wide array of investment solutions for institutional and private investors globally. Amundi Pioneer Asset Management, Inc. (formerly, Pioneer Investment Management, Inc.) is an investment adviser subsidiary of Amundi Pioneer Asset Management USA, Inc.
Pioneer Investments was founded in 1928 by Philip L. Carret and has been a leading innovator in global asset management since its inception. Amundi Smith Breeden, founded as Smith Breeden Associates in 1982, is a highly regarded relative value credit investor managing an extensive range of fixed-income strategies tailored to the needs of institutional investors. In aggregate, Amundi Pioneer Asset Management offers a broad range of fixed-income, equity and multi-asset investment solutions. A focus on proprietary research, robust risk management, disciplined investment processes, and close partnerships with clients has made the firms that comprise Amundi Pioneer investment managers of choice among leading institutional and individual investors worldwide. Amundi Pioneer had approximately $88.1 billion in assets under management as of September 30, 2017.
Shareholder Inquiries: Please contact your financial advisor or visit amundipioneer.com.
Broker/Advisor Inquiries Please Contact: 800-622-9876
Media Inquiries Please Contact: Geoff Smith, 617-422-4727
Amundi Pioneer Distributor, Inc., Member SIPC
© 2017 Amundi Pioneer Asset Management
1 Source IPE “Top 400 asset managers” published in June 2017 and based on AUM as of end December 2016.