Two Pioneer funds plan to redeem all outstanding AMPS by year-end

By Marisa Wong

Madison, Wis., July 25 - Pioneer Investments announced that Pioneer Floating Rate Trust (PHD) and Pioneer High Income Trust (PHT) each intend to redeem all of their outstanding auction market preferred shares by the end of 2013.

Each series of AMPS will be redeemed at par plus any dividends accrued as of the redemption date.

The redemption of each fund's AMPS is subject to the successful negotiation of new financing and some notice and regulatory requirements.

The two closed-end funds will make separate announcements about their respective redemptions.

Boston-based Pioneer Investment Management, Inc. is the investment adviser for PHD and PHT and is part of Pioneer Investment Management USA Inc., the U.S. subsidiary of Milan-based Pioneer Global Asset Management SpA.

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