Pioneer Flexible Opportunities Fund
Data updated: 2025-03-25
C000088500 — Pioneer Flexible Opportunities Fund. Total Return Allocation · $119.54M AUM · 2.14% expense ratio. Holdings, fees, performance and SEC filings.
C000088500 Fund Overview
Pioneer Flexible Opportunities Fund is a US mutual fund managed by Pioneer Series Trust VI, categorised as Total Return Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Pioneer Series Trust VI
- Category: Total Return Allocation
- Assets under management: $119.54M
- 1-year return: 13.3%
- SEC CIK: 0001380192
- SEC series ID: S000028857
- Share class ID: C000088500
C000088500 Investment Objective and Strategy
Pioneer Flexible Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Pioneer Series Trust VI.
Investment objective
The fund's investment objective is total return.
Principal investment strategy
"The fund selects investments from a broad spectrum of asset classes, including both traditional investments, such as equity and fixed income securities, and less traditional or alternative investments, such as commodity-oriented investments, real estate related investments, and currencies. The fund seeks ""real return"" by holding some investments that historically have not moved in step with broad equity and fixed income markets and selecting investments believed to provide total return in consideration of perceived risk and changing market and economic conditions over time. Real return is considered to be a level of total return that exceeds the rate of inflation over the course of different market environments. Equity securities may include common and preferred stocks, depositary receipts, warrants, rights, equity-linked securities and other equity interests.
The fund may invest in securities of issuers of any market capitalization. In addition to direct investment in securities and other instruments, the fund may invest in other funds, including exchange-traded funds (""ETFs""), unit investment trusts, and other pooled investment vehicles that may or may not be registered under the Investment Company Act of 1940 (the ""1940 Act""). Some of these funds may be managed by the adviser. The fund may invest in real estate investment trusts (""REITs"") and U.S. and non-U.S. real estate companies. Fixed income securities include those issued by U.S. and non-U.S. governmental, corporate and other issuers, including mortgage-related or mortgage-backed securities (including ""sub-prime"" mortgages), asset-backed securities, floating rate loans, convertible securities, Treasury Inflation Protected Securities (""TIPS"") and other inflation-linked debt securities, subordinated debt securities, event-linked bonds, and other insurance-linked securities.
The fund may invest in debt securities of any credit quality, including those rated below investment grade (known as ""junk bonds"") or, if unrated, of equivalent credit quality as determined by the fund's investment adviser. The fund may invest in securities with a broad range of maturities. The fund's investments may have fixed or variable principal payments and all types of interest rate payment and reset terms, including fixed rate, floating rate, inverse floating rate, zero coupon, contingent, deferred and payment in kind and auction rate features. The fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis. The fund may gain exposure to commodities (such as oil and precious metals) through investment in commodity-linked derivatives, ETFs, exchange-traded notes and leveraged or unleveraged commodity-linked notes (derivative debt instruments with principal and/or coupon payments linked to the performance of commodity indices).
The fund also may invest in equity securities of issuers in commodity-related industries. The fund may gain exposure to commodities through investment in a wholly owned subsidiary of the fund organized under the laws of the Cayman Islands (the ""Subsidiary"") that is expected to invest in commodity-oriented investments. The fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary is advised by the adviser. The fund may, but is not required to, use derivatives. The fund may use derivatives for a variety of other purposes, including: in an attempt to hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; as a substitute for purchasing or selling securities; to attempt to increase the fund's return as a non-hedging strategy that may be considered speculative; to manage portfolio characteristics; and as a cash flow management technique.
The fund may invest without limit in derivative instruments (other than commodity-related derivative instruments). However, the fund may choose not to make use of derivatives for a variety of reasons, and any use may be limited by applicable law and regulations. The fund may invest up to 100% of its assets in non-U.S. securities, including securities of emerging market issuers. In addition to investing in securities denominated in non-U.S. currencies, the fund may hold non-U.S. currencies and purchase and sell forward currency exchange contracts in non-U.S. currencies. The fund's currency and currency-related investments may be used to adjust overall currency exposures, including as a means of seeking incremental return, which may be considered a speculative technique. The fund may take a short position with respect to a security, index or currency, for which the adviser has a negative tactical view, either through the short sale of a security or through a derivative position, such as a futures contract or swap agreement.
The fund may invest up to 100% of its assets in cash and short-term investments as a means of pursuing its investment strategies or for defensive purposes. As part of its investment strategies, the fund may engage in active and frequent trading of portfolio securities. In selecting investments, the adviser initially constructs an overall asset allocation model based on its expectations for economic growth and inflation on a global basis. In selecting among asset classes, the adviser considers the relative return potential of particular asset classes in view of their expected relative volatility (the variability of returns from one period to the next). The goal of this process is to identify a combination of asset classes with the potential to provide real return due to a favorable overall risk/return profile.
In selecting investments within each asset class, the adviser considers the potential to provide incremental return to the portfolio consistent with the expectations for the asset class. When investing in equity and debt securities, the adviser generally favors those securities it perceives to be undervalued. Investments typically are sold when the adviser's overall assessment of market and economic conditions changes or the assessments of the attributes of asset classes or individual holdings change. The fund is not required to allocate its investments among asset classes in any fixed proportion, nor is it limited by the issuer's geographic location, size or market capitalization. The fund may have none, some or all of its assets invested in each asset class in relative proportions that change over time based upon market and economic conditions."
C000088500 Holdings
Top 10 holdings of Pioneer Flexible Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Dreyfus Government Cash Management | 3.29% |
| IBM | 3.19% |
| State Street Corp | 2.21% |
| Morgan Stanley | 2.09% |
| Aviva PLC | 1.98% |
| Dominion Energy Inc | 1.95% |
| DBS Group Holdings Ltd | 1.94% |
| FirstEnergy Corp | 1.80% |
| Eversource Energy | 1.75% |
| Citizens Financial Group Inc | 1.74% |
C000088500 Portfolio Allocation
Asset-class allocation of Pioneer Flexible Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 51.0% |
| Equity | 43.5% |
| Cash & Equivalents | 3.3% |
| Derivatives | 0.1% |
C000088500 Performance
Total returns for C000088500 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 13.3% |
| 3 years (annualised) | 0.1% |
| 5 years (annualised) | 2.8% |
C000088500 Risk Information
Risk metrics for C000088500, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.7%
C000088500 Costs and Fees
C000088500 costs about $214 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.14%
- Gross expense ratio: 2.14%
- Portfolio turnover: 114%
- Brokerage commissions: 13.55 bps of average net assets (SEC N-CEN)
C000088500 Cashflows
Over the 12 months to 2025-01, Pioneer Flexible Opportunities Fund had net outflows of $9.27M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-01 | −$2.33M |
| 2024-12 | $2.02M |
| 2024-11 | $946.81K |
| 2024-10 | $1.44M |
| 2024-09 | −$1.51M |
| 2024-08 | $491.30K |
C000088500 Debt Constituents
Largest debt holdings of Pioneer Flexible Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Toronto-Dominion Bank | 1.00% |
| Hsbc Bank PLC | 1.00% |
| Royal Bank Of Canada | 0.94% |
| Royal Bank Of Canada | 0.93% |
| Hsbc Bank PLC | 0.93% |
| Royal Bank Of Canada | 0.92% |
| Goldman Sachs Internatio | 0.92% |
| Bnp Paribas Issuance Bv | 0.91% |
| Canadian Imperial Bank | 0.91% |
| Bnp Paribas Issuance Bv | 0.90% |
C000088500 Prospectus and SEC Filings
Official Pioneer Flexible Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-02-27
- Prospectus (485BPOS) — filed 2024-02-27
- Prospectus (485BPOS) — filed 2023-02-24
- Portfolio holdings (N-PORT) — filed 2025-03-25
- Portfolio holdings (N-PORT) — filed 2024-12-19
- Portfolio holdings (N-PORT) — filed 2024-09-23
- Annual census (N-CEN) — filed 2025-01-10
- Annual census (N-CEN) — filed 2024-01-12
Related Funds
Other Total Return Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.