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)
Ticker
Taxable
Funds
DistributionPer
Share
Change FromPrevious
Month
HNW* Pioneer Diversified High Income Trust $0.0950 -$0.0200 PHD
Pioneer Floating Rate Trust $0.0600 - PHT Pioneer High Income Trust
$0.0650 -
Ticker
Tax-Exempt
Funds
DistributionPer
Share
Change FromPrevious
Month
MAV** Pioneer Municipal High Income Advantage Trust $0.0525
+$0.0025 MHI** Pioneer Municipal High Income Trust $0.0525 +$0.0025
MarketPrice
Market PriceDistribution Rate
NAV
NAVDistribution
Rate
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 ManagementAmundi 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.
Visit amundipioneer.com or amundismithbreeden.com for more
information.
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Shareholder Inquiries: Please contact your financial advisor or
visit amundipioneer.com.Broker/Advisor Inquiries Please Contact:
800-622-9876Media 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171103005848/en/
Amundi Pioneer Asset ManagementGeoff Smith,
617-422-4727geoff.smith@amundipioneer.com
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