Pioneer AMT-Free Municipal Fund Class Y
PBYMX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Pioneer Series Trust II DE United States of America
- IPO Date
- Nov 28, 2006
- CIK
- 0001265389
- Similar Companies
- Business
- Victory Pioneer AMT-Free Municipal Fund Class Y (PBYMX) is an open-end mutual fund that seeks a high level of current income exempt from federal income tax by investing primarily in investment-grade municipal bonds with maturities exceeding one year; the fund normally allocates at least 80% of its net assets (plus any borrowings for investment purposes) to such securities whose interest is exempt from regular federal income tax and avoids those subject to the federal alternative minimum tax (AMT). It holds a diversified portfolio of approximately 133 municipal bonds, including top holdings such as Puerto Rico Sales Tax Financing Corporation Revenue bonds, Golden State Tobacco Securitization Corporation Settlement Revenue bonds, and California Educational Facilities Authority Revenue bonds; the portfolio emphasizes sectors like municipal tax-exempt bonds (97.58%), with minor allocations to government, municipal taxable, and cash equivalents. Class Y shares, designed for institutional investors, feature a net expense ratio of 0.49%, a minimum initial investment of $5 million, and monthly dividend distributions yielding approximately 3.92% on a trailing twelve-month basis. The fund operates within the Muni National Long category, targeting U.S. investors seeking tax-advantaged fixed-income exposure, with geographic focus on municipal issuers across states including California, Virginia, Alabama, Massachusetts, Ohio, Colorado, Florida, and Puerto Rico; total net assets stand at approximately $577-608 million, managed under Victory Capital's multi-boutique platform. Launched on November 10, 2006 (with related share classes dating to 1996), it was originally under Pioneer Investments, headquartered historically at 60 State Street, Boston, Massachusetts. In recent major developments, Victory Capital completed its transformative acquisition of Amundi US (formerly encompassing Pioneer Investments) in April 2025, reintroducing the Pioneer Investments brand and boosting firm-wide assets to $301.6 billion in Q2 2025; this strategic partnership includes 15-year reciprocal global distribution agreements with Amundi, enhancing Pioneer strategies' international reach. Portfolio management saw John (Jake) Crosby van Roden III appointed as lead manager starting February 28, 2024, bringing expertise in municipals; the fund maintained a portfolio turnover of 76% amid market shifts favoring lower-quality credits in Q2 2024. Victory Capital, the fund's parent with headquarters in San Antonio, Texas (founded 2013 via management buyout), continues integrating this acquisition while pursuing expense synergies of about $70 million toward a $110 million target.