<PAGE> PAGE 1
000 B000000 06/30/95
000 C000000 0000276776
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PIONEER BOND FUND
001 B000000 811-2864
001 C000000 6174224701
002 A000000 60 STATE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
002 D020000 1820
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
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007 C010100 1
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008 A000001 PIONEERING MANAGEMENT CORPORATION
008 B000001 A
008 C000001 801-8255
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
008 D040001 1820
011 A000001 PIONEER FUNDS DISTRIBUTOR, INC.
011 B000001 8-41256
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
011 C040001 1820
012 A000001 PIONEERING SERVICES CORPORATION
012 B000001 84-1359
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
<PAGE> PAGE 2
012 C040001 1820
013 A000001 ARTHUR ANDERSEN LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
013 B040001 2604
015 B000001 C
015 A000002 BROWN BROTHERS HARRIMAN & CO.
015 B000002 C
015 C010002 BOSTON
015 C020002 MA
015 C030002 02109
015 C040002 1820
015 E010002 X
015 A000003 NATIONAL AUSTRALIA BANK LTD.
015 B000003 S
015 C010003 MELBOURNE 3000
015 D010003 AUSTRALIA
015 E040003 X
015 A000004 CREDITANSTALT BANK VEREIN
015 B000004 S
015 C010004 VIENNA A-1090
015 D010004 AUSTRIA
015 E040004 X
015 A000005 MORGAN GUARANTY TRUST CO. BRUSSELS
015 B000005 S
015 C010005 BRUSSELS 1040
015 D010005 BELGUIM
015 E040005 X
015 A000006 DEN DANSKE BANK, COPENHAGEN
015 B000006 S
015 C010006 COPENHAGEN
015 D010006 DENMARK
015 E040006 X
015 A000007 UNION BANK OF FINLAND
015 B000007 S
015 C010007 HELSINKI
015 D010007 FINLAND
015 D020007 SF-00100
015 E040007 X
015 A000008 MORGAN GUARANTY TRUST CO. OF PARIS
015 B000008 S
015 C010008 PARIS 75001
015 D010008 FRANCE
015 E040008 X
015 A000009 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000009 S
015 C010009 FRANKFORT D-6000
015 D010009 GERMANY
015 E040009 X
015 A000010 CHASE MANHATTAN BANK, N.A.
<PAGE> PAGE 3
015 B000010 S
015 C010010 HONG KONG
015 D010010 HONG KONG
015 E040010 X
015 A000011 BANCA COMMERCIALE ITALIANA, MILAN
015 B000011 S
015 C010011 20121 MILAN
015 D010011 ITALY
015 E040011 X
015 A000012 THE SUMITOMO TRUST AND BANK CO. LTD.
015 B000012 S
015 C010012 TOKYO 100
015 D010012 JAPAN
015 E040012 X
015 A000013 HONG KONG & SHANGHAI BANKING CORP.
015 B000013 S
015 C010013 KUALA LAMPUR 50100
015 D010013 MALAYSIA
015 E040013 X
015 A000014 CITIBANK, N.A.
015 B000014 S
015 C010014 MEXICO CITY
015 D010014 MEXICO
015 D020014 06695
015 E040014 X
015 A000015 ABN/AMRO BANK
015 B000015 S
015 C010015 BREDA
015 D010015 NETHERLANDS
015 E040015 X
015 A000016 DEN NORSKE CREDITBANK, OSLO
015 B000016 S
015 C010016 SENTRUM N-0107
015 D010016 NORWAY
015 E040016 X
015 A000017 CITIBANK, N.A.
015 B000017 S
015 C010017 MAKATI, MANILA
015 D010017 PHILLIPINES
015 E040017 X
015 A000018 BANCO ESPIRITO SANTO COMMERCIAL DE LISBOA
015 B000018 S
015 C010018 1200 LISBON
015 D010018 PORTUGAL
015 E040018 X
015 A000019 BANCO DE SANTANDER, MADRID
015 B000019 S
015 C010019 MADRID 28022
015 D010019 SPAIN
015 E040019 X
015 A000020 SKANDINAVISKA ENSKILDA BANKEN
<PAGE> PAGE 4
015 B000020 S
015 C010020 STOCKHOLM, S-10640
015 D010020 SWEDEN
015 E040020 X
015 A000021 MORGAN GUARANTY TRUST CO. OF ZURICH
015 B000021 S
015 C010021 ZURICH
015 D010021 SWITZERLAND
015 E040021 X
015 A000022 MORGAN GUARANTY TRUST CO. OF LONDON
015 B000022 S
015 C010022 LONDON
015 D010022 UNITED KINGDOM
015 D020022 EC4YOJT
015 E040022 X
015 A000023 CHASE MANHATTAN BANK
015 B000023 S
015 C010023 0104 SINGAPORE
015 D010023 SINGAPORE
015 E040023 X
015 A000024 CITIBANK, N.A.
015 B000024 S
015 C010024 SEOUL 110
015 D010024 SOUTH KOREA
015 E040024 X
015 A000025 HONGKONG & SHANGAI BANKING CORP.
015 B000025 S
015 C010025 BANGKOK 10500
015 D010025 THAILAND
015 E040025 X
015 A000026 STANDARD CHARTERED BANK, TAIPEI BRANCH
015 B000026 S
015 C010026 TAIPEI
015 D010026 TAIWAN R.O.C.
015 E040026 X
018 000000 Y
019 A000000 Y
019 B000000 24
019 C000000 PIONEERFDS
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
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022 A000001 HOUSEHOLD FINANCE
<PAGE> PAGE 5
022 B000001 36-1239445
022 C000001 135815
022 D000001 0
022 A000002 COMMERCIAL CREDIT CORP.
022 B000002 52-0883351
022 C000002 37185
022 D000002 0
022 A000003 HONG KONG SHANGHAI
022 C000003 12143
022 D000003 7832
022 A000004 MERRILL LYNCH
022 B000004 13-5670485
022 C000004 10960
022 D000004 8551
022 A000005 TEXACO
022 B000005 74-1383447
022 C000005 18936
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022 C000006 11246
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022 B000007 22-2231168
022 C000007 9422
022 D000007 2104
022 A000008 PRUDENTIAL FUNDING
022 C000008 10044
022 D000008 0
022 A000009 FORD MOTOR CREDIT CORP.
022 B000009 38-1612444
022 C000009 9219
022 D000009 0
022 A000010 FIRST CHICAGO
022 B000010 36-3595942
022 C000010 3099
022 D000010 4375
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE WILLIAM H. KEOUGH
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276776
<NAME> PIONEER BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 110937
<INVESTMENTS-AT-VALUE> 115291
<RECEIVABLES> 2738
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 118035
<PAYABLE-FOR-SECURITIES> 246
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 293
<TOTAL-LIABILITIES> 539
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116031
<SHARES-COMMON-STOCK> 12573<F1>
<SHARES-COMMON-PRIOR> 11935<F2>
<ACCUMULATED-NII-CURRENT> 67
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2956)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4354
<NET-ASSETS> 117496
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9425
<OTHER-INCOME> 0
<EXPENSES-NET> 1271
<NET-INVESTMENT-INCOME> 8154
<REALIZED-GAINS-CURRENT> (2542)
<APPREC-INCREASE-CURRENT> 6452
<NET-CHANGE-FROM-OPS> 12064
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8147<F3>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2918<F4>
<NUMBER-OF-SHARES-REDEEMED> 2955<F5>
<SHARES-REINVESTED> 794<F6>
<NET-CHANGE-IN-ASSETS> 9625
<ACCUMULATED-NII-PRIOR> 60
<ACCUMULATED-GAINS-PRIOR> (471)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 546
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1271
<AVERAGE-NET-ASSETS> 108542<F7>
<PER-SHARE-NAV-BEGIN> 9.04<F8>
<PER-SHARE-NII> 0.678<F9>
<PER-SHARE-GAIN-APPREC> 0.308<F10>
<PER-SHARE-DIVIDEND> 0.676<F11>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.35<F12>
<EXPENSE-RATIO> 1.14<F13>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>share-common-stock per class:
class a - 11784
class b - 789
<F2>shares-common-prior per class:
class a - 11801
class b - 134
<F3>distributions-of-income per class:
class a - $7889
class b - $258
<F4>number-of-shares-sold per class:
class a - 2144
class b - 774
<F5>number-of-shares-redeemed per class:
class a - 2815
class b - 140
<F6>shares-reinvested per class:
class a - 654
class b - 140
<F7>average-net-assets per class:
class a - $104797
class b - $3745
<F8>represents per-share-nav-begin for class a shares; per-share-nav-begin for
class b shares is $9.02.
<F9>represents per-share-nii for class a shares; per-share-nii for class
b shares is $0.604.
<F10>represents per-share-gain-apprec for class a shares; per-share-gain-
apprec for class b shares is 0.305.
<F11>represents per-share-dividend for class a shares; per-share-dividend for
class b shares is 0.619.
<F12>represents per-share-nav-end for class a shares; per-share-nav-end for
class b shares is $9.31.
<F13>represents expense-ratio for class a shares; expense-ratio for class b
shares is 1.97.
</FN>
</TABLE>
CONTROL OBJECTIVES, METHODOLOGY AND PROCEDURES
FOR ACCOUNTING FOR
MULTIPLE CLASSES OF SHARES
MARCH 31, 1995
<PAGE>
PIONEERING MANAGEMENT CORPORATION
CONTROL OBJECTIVES, METHODOLOGY AND PROCEDURES
FOR ACCOUNTING FOR
MULTIPLE CLASSES OF SHARES
MARCH 31, 1995
The Pioneer Family of Funds (the Funds) refers to certain regulated investment
companies, including any future funds in the same group of investment companies,
for which Pioneering Management Corporation and its affiliates (PMC) acts (or
will act) as the Investment Adviser, Underwriter or Transfer Agent for the
shares of the Funds, Record keeper (PMC Fund Accounting) maintaining the
accounting records of the Funds, and Administrator responsible for financial and
regulatory reporting for the Funds. Brown Brothers, Harriman & Co. (BBH)
provides the accounting services for certain funds (PMC Fund Accounting and BBH
are hereinafter referred to as the Service Providers). Thus, the procedures and
internal accounting controls for the multiple-class portfolios include the
participation of the Service Providers. The Custodian, a nonaffiliated entity,
is responsible for the securities and cash of the Funds. The management of the
Funds believes that the internal control structure maintained by these entities,
coupled with the various management controls and substantiation and evaluation
controls performed by PMC, is adequate to provide reasonable assurance that the
following control objectives are achieved:
o The daily net asset value for each class of shares within the Funds is
accurately calculated.
o Expenses of the Funds are properly allocated among multiple classes of
shares.
o Dividend distributions are accurately calculated for each class of
shares.
The internal accounting control environment at PMC provides for a minimal risk
of error. This has been accomplished through the use of competent and
well-trained employees, adequate facilities and established internal accounting
control procedures. These procedures and internal accounting controls have been
reviewed by management to ensure that the risks associated with multiple-class
portfolios are adequately addressed.
Expenses of the Funds are classified as either fund, series or class expenses.
Fund expenses are identifiable as relating to the operations of the entire fund.
Series expenses are associated with a fund that has multiple series and are
identifiable to a series, and not a particular class. Class expenses are
specifically identifiable as relating to the operations of a particular class.
Because of these class expenses, the net expenses and net income of each class
may differ.
<PAGE>
PIONEERING MANAGEMENT CORPORATION
CONTROL OBJECTIVES, METHODOLOGY AND PROCEDURES
FOR ACCOUNTING FOR
MULTIPLE CLASSES OF SHARES
MARCH 31, 1995
(Continued)
A. CONTROL OBJECTIVE--DAILY NET ASSET VALUE
The daily net asset value for each class of shares within the Funds is
accurately calculated.
1. Methodology
a. Fund assets are recorded and valued daily.
(1) Investment securities are recorded on a trade-date basis
and are reflected at their current fair value, calculated
in accordance with the individual fund prospectus, by the
Service Providers. Security holdings are reconciled on a
monthly basis to custodial records to ensure that the
records are complete and accurate.
(2) Short-term securities held by the Funds are valued on a
daily basis using amortized cost. Long-term securities are
valued at their current fair value as determined by a
national securities exchange, an independent pricing
source or, if required, at fair value as determined in
good faith using procedures established by the Board of
Trustees.
(3) Receivables for shares of beneficial interest purchased
are recorded on a trade-date basis for the respective
class at the applicable net asset value (less applicable
sales charge, if any) and reconciled to the Transfer Agent
records daily to ensure accuracy.
(4) All other assets are determined and recorded at their
current fair value in accordance with generally accepted
accounting principles.
b. Fund liabilities and capital stock accounts are recorded
accurately on a daily basis.
(1) Payables for shares of beneficial interest redeemed are
recorded on a trade-date basis for the respective class at
the applicable net asset value and reconciled to the
Transfer Agent records daily to ensure accuracy.
(2) Accrued fund expenses are recorded by each fund using a
pro rata methodology based on the relative aggregate net
assets of the fund, except in the case of a fund that has
series, for which accrued series expenses are recorded to
each series based on the relative aggregate net assets of
such series (or other Board-approved method) and accrued
class expenses are charged directly to each class of
shares to which they relate. Estimated fund and series
expenses are accrued and allocated daily to each class
based on its pro rata percentage of the total net assets
of the fund or the series as of the end of the prior day,
adjusted for the previous day's share activity.
<PAGE>
(3) All other liabilities are determined and recorded at their
current fair value in accordance with generally accepted
accounting principles.
(4) Shareholder activity is recorded for each class at the
applicable net asset value on a daily basis by the Service
Providers and reconciled to the Transfer Agent records to
ensure accuracy.
c. The net asset value is properly calculated for each class of
shares.
(1) Investment income, unrealized and realized gains or
losses, if any, are recorded and allocated daily to each
class based on its percentage of the total net assets of
the fund as of the end of the prior day, adjusted for the
previous day's share activity.
(2) Fund and series expenses are accrued and allocated daily
to each class using a pro rata methodology based on the
previous day's ending net assets invested in each fund or
series adjusted for the previous day's share activity.
Class expenses are accrued and charged directly to each
class of shares to which they relate.
(3) Shareholder activity is reported for each class on a daily
basis from the Transfer Agent. A Service Provider fund
accountant records this activity for each class in order
to determine the shares of beneficial interest
outstanding.
(4) For all Funds, a Service Provider fund accountant
completes an allocation work sheet identifying the
investment income, unrealized gains or losses, expenses
and shares of beneficial interest outstanding appropriate
for each class for the purpose of calculating the net
asset value for each class on a daily basis.
2. Control Procedures
a. A Service Provider fund accountant verifies that the allocation
work sheet is completed properly and that the total class
allocations are reconciled to the activity recorded by the fund.
b. A Service Provider fund accounting supervisor reviews this work
sheet prior to the release of the net asset value per share.
c. A net asset value reconciliation is performed daily by the
service provider fund accountant on each class and reviewed by
the Service Provider fund accounting supervisor.
<PAGE>
d. For those funds for which PMC Fund Accounting serves as the
Administrator, a PMC Fund Accountant reviews the net asset value
calculations for reasonableness on a daily basis.
B. CONTROL OBJECTIVE--EXPENSES
Expenses of the Funds are properly allocated among multiple classes of
shares.
Fund expenses are those expenses allocated to each fund based on the
relative aggregate net assets of the fund without regard to class, except
in the case of a fund that has series, in which case they would first be
allocated among series, based on the relative aggregate net assets of
such series (or on such other Board-approved basis). These expenses could
include those that the Board approved as not being attributable to a
specific series or class: trustees' fees and expenses, unallocated audit
and legal fees, insurance premiums, expenses relating to shareholder
reports and certain printing expenses.
Series expenses are attributable to a particular series of a trust, but
not to a particular class thereof, and would be borne by each class on
the basis of the relative aggregate net assets of such class (or on such
other Board-approved basis). Series expenses include investment advisory
fees, custodian fees and certain printing costs.
Class expenses are those identifiable with each individual class of
shares. These expenses include 12b-1 distribution costs, transfer agent
fees and expenses as identified by the Transfer Agent as being
attributable to a specific class; printing and postage expenses related
to preparing and distributing materials such as shareholder reports,
prospecti, and proxies to current shareholders of a particular class;
Blue Sky and foreign registration costs; SEC registration costs;
litigation fees relating solely to one class of shares; and trustees'
fees incurred as a result of issues relating to one class of shares. Only
12b-1 distribution expenses and transfer agent fees are charged to a
specific class. Only class expenses approved by the Internal Revenue
Service subject to the receipt of a private letter ruling will be charged
to a class.
The following methodologies are followed to ensure that all expenses are
properly allocated.
1. Methodology
a. All expenses are classified as being either fund expenses,
series expenses or expenses that relate to a specific class of
expenses by the Funds' Trustees.
<PAGE>
b. Fund and series expenses of each class of shares are projected
and accrued using a pro rata methodology. Specific expenses for
each class of shares, as well as fund and series expenses, which
are allocated to each class of shares based on the relative net
assets of each class, are compared against expense projections.
c. Advisory fees are charged to the Funds using a contractual
asset-based methodology. Record keeping and administrative
personnel and services are charged to the Funds using a cost
allocation methodology. The components of the cost allocation
methodology are reviewed annually by the Trustees.
d. Total expenses for each class of shares are limited by statutory
expense caps as well as either voluntary or contractual expense
caps. At various times, PMC will establish expense reimbursement
programs whereby PMC will voluntarily not impose or will
reimburse a fund for expenses that exceed defined levels which
are stated in each fund's individual prospectus and are based on
average daily net assets. The expense reimbursement limits will
be consistent for each class within a fund and will be
calculated and allocated at the fund level to each class based
on relative net assets as of the end of the prior day, adjusted
for the previous day's share activity. Expense limit
calculations will not consider any expenses that are
specifically attributable to a particular class. PMC can at any
time change or modify these provisions.
e. Distribution expenses incurred pursuant to Rule 12b-1 are
charged to certain classes of shares based on a contractual
asset-based methodology.
2. Control Procedures
a. Accruals for both fund, series and class expenses are reviewed
each month by a service provider fund accountant and supervisor.
Based on these reviews, adjustments to expense accruals or
expense projections are made as needed. Expense ratios for each
class of shares are reviewed on a daily basis by a service
provider fund accountant and supervisor to ensure that
differences in yields relate solely to acceptable expense
differentials.
b. On a monthly basis, total expenses are reviewed by the service
provider fund accountant to ensure that the applicable expense
cap, if any, is not exceeded and that the appropriate
waiver/reimbursement of expenses in excess of the expense cap
has been recorded.
<PAGE>
c. The classification of expenses as fund, series or class is
reviewed by the Fund Trustees.
d. PMC performs detailed expense analyses to ensure that expenses
are properly charged to each fund, series and class of shares.
Any expense adjustments required as a result of this process are
made.
C. CONTROL OBJECTIVE--DIVIDENDS
Dividend distributions are accurately calculated for each class of
shares.
1. Methodology--Income
a. Interest income is accrued and recorded by the Funds on a daily
basis via service provider fund accounting. Dividend income is
recorded by the Funds on the ex-date.
b. Corporate actions related to portfolio holdings are identified
by the Custodian and properly reflected by service provider fund
accounting.
c. Investment income, including amortization of discount and
premium, where applicable, is recorded by each fund and is
allocated to each class of shares based on its percentage of the
total net assets of shareholders of the fund as of the end of
the prior day, adjusted for the previous day's share activity.
d. For the nondaily dividend, nonmoney market Funds, the dividend
rate for each class is determined by calculating the net
investment income available for all classes before consideration
of expenses unique to any class (or incremental expenses) and
dividing this sum by total record date shares for all classes
combined to determine the gross dividend rate for all shares.
From the gross dividend rate, a class-specific amount per share
for each class (representing the unique and incremental, if any,
expenses accrued during the period to that class dividend by the
record date shares outstanding for that class) is subtracted to
determine the applicable class dividend rate.
e. For the money market or daily dividend nonmoney market Funds,
distributable income is calculated by subtracting class expenses
from class income. The dividend rates are calculated on a
settlement date basis for class shares outstanding.
<PAGE>
2. Methodology--Capital Gains Dividends
a. Realized capital gains, if any, are allocated daily to each
class based on its percentage of the total net assets of the
Funds as of the end of the prior day, adjusted for the previous
day's share activity.
b. Capital gains, if any, are distributed at least once every 12
months by the Funds.
c. The distribution rate is determined on the ex-date by dividing
the total realized gain of the Funds by the total shares of
beneficial interest outstanding for the Funds as of the record
date. Capital gains dividends per share should be identical for
classes of shares within a fund.
3. Control Procedures
a. For all Funds, the service provider fund accountant reviews the
income accruals and realized gain or loss for accuracy on a
daily basis. An allocation work sheet is completed to ensure the
proper allocation of income and realized gain or loss to each
class. This work sheet provides a reconciliation between the
fund and the class records.
b. The dividend distribution for each class is reviewed by the
service provider fund accountant and supervisor on a daily basis
to ensure accuracy.
c. Allocation percentages are reviewed on a daily basis by the
service provider fund accountant and supervisor.
d. On payable dates, the service provider fund accountant
reconciles the distribution payable to the Transfer Agent
records to ensure accuracy.
D. FINANCIAL REPORTING CONSIDERATIONS
The Funds, in accordance with industry practice, will follow the
financial statement disclosure as outlined below:
1. Schedule of Investments
Securities will be shown in accordance with standard
reporting format.
<PAGE>
2. Statement of Assets and Liabilities
a. Assets and liabilities will be disclosed in accordance with
standard reporting format.
b. Net assets will be presented on a combined basis, as follows:
Net Assets-
Common shares, at par and paid in capital in excess of par
Undistributed net investment income (loss) Undistributed net
realized gains (losses) Net unrealized appreciation
(depreciation)
These data are presented on a separate class basis-
Class A
Net asset value per share $________, __________ shares of common
stock issued and outstanding, _________ shares authorized)
Class B
Net asset value per share ($________, __________ shares of
common stock issued and outstanding, _________ shares
authorized)
3. Statement of Operations
Standard reporting format, except that class-specific expenses will
be disclosed for each class.
4. Statement of Changes in Net Assets
Show components by each class of shares and in total, as
follows:
Current Year Prior Year
Total Class A Class B Total Class A Class B
<PAGE>
Financial Highlights
Show per share, net assets, ratio and total return components by each
class, for all applicable years, as follows:*
Current Year Prior Year
Total Class A Class B Total Class A Class B
*Portfolio turnover is calculated on the fund level and, as such, will
be the same for all classes of a fund.
Notes to Financial Statements
o Share transaction footnote will include information on both classes
of shares for two years, if information is not included on the face
of the statement of changes.
o Notes will include additional disclosure regarding allocation of
income, expenses and any realized/unrealized gains (losses) between
classes.
o Notes will describe the distribution agreements incorporating
disclosure on any class 12b-1 fee arrangements.
To the Board of Trustees of
Pioneer Bond Fund:
In planning and performing our audit of the financial statements of Pioneer Bond
Fund for the year ended June 30, 1995, we considered its internal control
structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, and
not to provide assurance on the internal control structure.
The management of Pioneer Bond Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of internal control structure policies and
procedures. The objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
June 30, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
July 28, 1995
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To Pioneering Management Corporation:
We have examined the accompanying exhibit entitled Pioneering Management
Corporation--Control Objectives, Methodology and Procedures for Accounting for
Multiple Classes of Shares, related to the procedures for calculating net asset
value, allocation of income and expenses between classes of fund shares and
dividend distributions. The methodology and procedures are the responsibility of
the Company's management. The purpose of our examination was to obtain
reasonable assurance about whether:
1. The accompanying description presents fairly, in all material respects,
Pioneering Management Corporation's policies and procedures that are
relevant to the operation of its multiple-class distribution plan described
in its application pursuant to Section 6(c) of the Investment Company Act
of 1940 for an order of exemption from Sections 18(f), 18(g), 18(i),
2(a)(32), 2(a)(35) and 22(d) of the act and Rule 22c-1 thereunder;
2. The control structure policies and procedures included in the description
are suitably designed to achieve the control objectives specified in the
description and such policies and procedures have been placed in operation;
and
3. The operating effectiveness of such policies and procedures were sufficient
to provide reasonable assurance that the control objectives therein were
achieved during the period from April 4, 1994 through March 31, 1995.
The control objectives were specified by the management of Pioneering Management
Corporation. Our examination was performed in accordance with standards
established by the American Institute of Certified Public Accountants, and
included those procedures we considered necessary in the circumstances to obtain
a reasonable basis for rendering our opinion. Our examination was limited to the
accompanying description, and accordingly, we do not express an opinion on the
internal control structure of Pioneering Management Corporation taken as a
whole.
In our opinion, the accompanying description of Pioneering Management
Corporation--Control Objectives, Methodology and Procedures for Accounting for
Multiple Classes of Shares presents fairly, in all material respects, the
control structure policies and procedures relevant to the operation of its
multiple-class funds. Those policies and procedures, as described, are suitably
designed to achieve the control objectives specified in the above-mentioned
description, and those policies and procedures have been placed in operation.
Also, in our opinion, the policies and procedures, as described, are suitably
designed to provide reasonable assurance that the specified control objectives
would be achieved if the described policies and procedures were satisfactorily
complied with.
<PAGE>
In addition to the procedures we considered necessary to render our opinion as
expressed in the previous paragraph, we applied tests to specific policies and
procedures, listed in Exhibit A, to obtain evidence about their effectiveness in
meeting the control objectives, described in Exhibit A. In our opinion, the
policies and procedures that were tested, as described in Exhibit A, were
operating with sufficient effectiveness to provide reasonable, but not absolute,
assurance that the control objectives specified in Exhibit A were achieved
during the period from April 4, 1994 to March 31, 1995.
The description of Pioneering Management Corporation--Control Objectives,
Methodology and Procedures for Accounting for Multiple Classes of Shares, is as
of March 31, 1995, and any projection of such information to the future is
subject to the risk that because of change the description may no longer portray
the system in existence. The potential effectiveness of specified policies and
procedures for Pioneering Management Corporation is subject to inherent
limitations, and accordingly, errors or irregularities may occur and not be
detected. Furthermore, the projection of any conclusions, based on our findings,
to future periods is subject to the risk that changes may alter the validity of
such conclusions.
This report is intended solely for use by management and the Securities and
Exchange Commission and should not be used for any other purpose.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
May 7, 1995
