497 1 mutifund032320prosupp497e.txt PROSPECTUS SUPPLEMENT Filed Pursuant to Rule 497(e) of the Securities Act of 1933 March 23, 2020 PIONEER FUNDS SUPPLEMENT TO THE PROSPECTUS AND SUMMARY PROSPECTUS, AS IN EFFECT AND AS MAY BE AMENDED FROM TIME TO TIME, FOR: FUND DATE OF PROSPECTUS Pioneer Strategic Income Fund February 1, 2020 Pioneer Emerging Markets Equity Fund February 1, 2020 Pioneer Equity Income Fund March 1, 2020 Pioneer Flexible Opportunities Fund March 1, 2020 Pioneer Floating Rate Fund March 1, 2020 Pioneer Global High Yield Fund March 1, 2020 Pioneer Global Multisector Income Fund March 1, 2020 Pioneer High Yield Fund March 1, 2020 Pioneer ILS Bridge Fund March 1, 2020 Pioneer ILS Interval Fund March 1, 2020 Pioneer Mid Cap Value Fund March 1, 2020 Pioneer International Equity Fund April 1, 2019 Pioneer Select Mid Cap Growth Fund April 1, 2019 Pioneer AMT-Free Municipal Fund May 1, 2019 Pioneer Fund May 1, 2019 Pioneer Real Estate Shares May 1, 2019 Pioneer Core Equity Fund May 1, 2019 Pioneer Multi-Asset Ultrashort Income Fund August 1, 2019 Pioneer Dynamic Credit Fund August 1, 2019 Pioneer Fundamental Growth Fund August 1, 2019 Pioneer Bond Fund November 1, 2019 Pioneer Balanced ESG Fund December 1, 2019 Pioneer Multi-Asset Income Fund December 1, 2019 Pioneer Solutions - Balanced Fund December 1, 2019 Pioneer Disciplined Growth Fund December 31, 2019 Pioneer Disciplined Value Fund December 31, 2019 Pioneer Global Equity Fund December 31, 2019 Pioneer High Income Municipal Fund December 31, 2019 Pioneer Corporate High Yield Fund December 31, 2019 Pioneer Short Term Income Fund December 31, 2019 FUND SUMMARY The following replaces the corresponding information under the heading "Principal Risks" in the section entitled "Fund summary": MARKET RISK. The market prices of securities held by the fund may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, recessions, inflation, changes in interest or currency rates, lack of liquidity in the bond markets, the spread of infectious illness or other public health issues or adverse investor sentiment. In the past decade, financial markets throughout the world have experienced increased volatility, depressed valuations, decreased liquidity and heightened uncertainty. Governmental and non-governmental issuers have defaulted on, or been forced to restructure, their debts. These conditions may continue, recur, worsen or spread. Events that have contributed to these market conditions include, but are not limited to, major cybersecurity events; geopolitical events (including wars and terror attacks); global pandemics; measures to address budget deficits; downgrading of sovereign debt; changes in oil and commodity prices; changes in currency exchange rates; and public sentiment. U.S. and non-U.S. governments and central banks have provided significant support to financial markets, including by keeping interest rates at historically low levels. U.S. Federal Reserve or other U.S. or non-U.S. governmental or central bank actions, including interest rate increases or contrary actions by different governments, could negatively affect financial markets generally, increase market volatility and reduce the value and liquidity of securities in which the fund invests. Policy and legislative changes in the U.S. and in other countries are affecting many aspects of financial regulation, and these and other events affecting global markets, such as the United Kingdom's exit from the European Union (or Brexit), may in some instances contribute to decreased liquidity and increased volatility in the financial markets. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading and tariff arrangements, terrorism, natural disasters, infectious illness or public health issues, and other circumstances in one country or region could have profound impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries directly affected, the value and liquidity of the fund's investments may be negatively affected. The fund may experience a substantial or complete loss on any individual security or derivative position. 32034-00-0320 (Copyright)2020 Amundi Pioneer Distributor, Inc. Underwriter of Pioneer mutual funds Member SIPC