SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material under Rule 14a-12
PIONEER FLOATING RATE TRUST
PIONEER HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST
60 State Street
Boston, Massachusetts 02109
1-800-622-3265
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
SCHEDULED FOR SEPTEMBER 11, 2007
This is the formal agenda for your fund's annual shareholder meeting. It
tells you the matters upon which you will be asked to vote and the time and
place of the meeting, in case you want to attend in person.
To the shareholders of Pioneer Floating Rate Trust, Pioneer High Income Trust,
Pioneer Municipal High Income Trust and Pioneer Municipal High Income Advantage
Trust:
The annual meeting of shareholders of each of the above registered
investment management companies (each, a "fund" and, collectively, the "funds")
will be held at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, 60
State Street, 26th Floor, Boston, Massachusetts 02109, on Tuesday, September
11, 2007 at 11:00 a.m., Eastern time, to consider the following:
1. To elect three Trustees of your fund, as named in the attached proxy
statement, two by the holders of Common and Preferred Shares of your
fund, voting together as a single class, and one by the holders of
Preferred Shares of your fund, voting as a separate class. Each
elected Trustee will serve for a three-year term or until a successor
is elected.
2. To consider any other business that may properly come before the
meeting.
Each fund will hold a separate meeting. Shareholders of each fund will vote
separately.
YOUR TRUSTEES RECOMMEND THAT YOU VOTE IN FAVOR OF PROPOSAL NO 1.
Shareholders of record as of the close of business on June 20, 2007 are
entitled to vote at the meeting and any adjournment or postponement thereof.
By Order of each Board of Trustees,
Dorothy E. Bourassa, Secretary
Boston, Massachusetts
August 3, 2007
-----------------
-----------------
WHETHER OR NOT YOU EXPECT TO ATTEND THE MEETING, PLEASE COMPLETE AND RETURN THE
ENCLOSED PROXY.
20906-00-0607
PROXY STATEMENT OF
PIONEER FLOATING RATE TRUST
PIONEER HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST
60 State Street
Boston, Massachusetts 02109
1-800-622-3265
ANNUAL MEETING OF SHAREHOLDERS
This proxy statement contains the information you should know before voting
on the proposal summarized below.
Each fund will furnish without charge a copy of its most recent annual
report and any more recent semi-annual report to any shareholder upon request.
Shareholders who want to obtain a copy of a fund's reports should direct all
written requests to the attention of the fund, at the address listed above, or
should call Pioneer Investment Management Shareholder Services Inc. ("PIMSS") at
1-800-622-3265.
INTRODUCTION
This proxy statement is being used by the Board of Trustees of each fund to
solicit proxies to be voted at the annual meeting of shareholders of each fund
referenced above. Participating in the meeting are holders of common shares of
beneficial interest (the "Common Shares") and the holders of preferred shares of
beneficial interest (the "Preferred Shares") of each fund. The Common Shares and
the Preferred Shares of each fund sometimes are referred to herein collectively
as the "Shares". Each meeting will be held at the offices of Wilmer Cutler
Pickering Hale and Dorr LLP, 60 State Street, 26th Floor, Boston, Massachusetts
02109, at 11:00 a.m., Eastern time, on Tuesday, September 11, 2007, and at any
adjournments or postponements of a meeting to a later date, for the purposes as
set forth in the accompanying notice of annual meeting of shareholders.
This proxy statement and the enclosed proxy card are being mailed to
shareholders of each fund on or about August 3, 2007. The annual report for each
fund for its most recently completed fiscal year was previously mailed to
shareholders.
WHO IS ELIGIBLE TO VOTE
Shareholders of record of each fund as of the close of business on June 20,
2007 (the "record date") are entitled to vote on all of the fund's business at
the annual shareholder meeting and any adjournments or postponements thereof.
The affirmative vote of a plurality of the Common and Preferred Shares of each
fund present at the meeting in person or by proxy, voting together as a single
class, is required to elect the nominee for Trustee designated to be elected by
the Common and Preferred Shares of each fund.
1
The affirmative vote of a plurality of the Preferred Shares of each fund present
at the meeting in person or by proxy is required to elect each nominee for
Trustee designated to be elected by the Preferred Shares of each fund. Election
by plurality means those three persons who receive the highest number of votes
from their respective classes of shares cast "FOR" shall be elected. Shares
represented by properly executed proxies, unless revoked before or at the
meeting, will be voted according to the shareholder's instructions. If you sign
a proxy card but do not fill in a vote, your shares will be voted FOR each of
the nominees for Trustee listed on the proxy card. If any other business
properly comes before the annual shareholder meeting, your shares will be voted
at the discretion of the persons named as proxies.
Shareholders of each fund will only vote on proposals relating to their fund.
PROPOSAL 1
ELECTION OF BOARD OF TRUSTEES
Shareholders of each fund are being asked to consider the election of three
nominees to the Board of Trustees of each fund. All of the nominees for election
to each fund's Board currently serve as Trustees for the fund and have served in
that capacity continuously since originally elected or appointed. Each Trustee
shall be elected to hold office for a three-year term and until his or her
successor is elected and qualified. Each nominee has consented to being named in
this proxy statement and indicated his or her willingness to serve if elected.
In the unanticipated event that any nominee should be unable to serve, the
persons named as proxies may vote for such other person as shall be designated
by the fund's Board of Trustees. The persons named on the accompanying proxy
card intend to vote at the meeting (unless otherwise directed) for the election
of the nominees named below as Trustees of each fund.
The Agreement and Declaration of Trust for each fund provides that the
Board of Trustees shall consist of Trustees divided into three classes, the
classes to be as nearly equal in number as possible. The Trustees of only one
class are elected at each annual meeting so that the regular term of only one
class of Trustees will expire annually and any particular Trustee stands for
election only once in each three-year period. Each fund's Board of Trustees is
divided into three staggered term classes -- Class I, Class II and Class III.
Class I Trustees are being submitted to shareholders for election at the
meetings for Pioneer Floating Rate Trust, Pioneer Municipal High Income Trust
and Pioneer Municipal High Income Advantage Trust. Class II Trustees are being
submitted to shareholders for election at the meeting for Pioneer High Income
Trust.
Each fund's Board of Trustees consists of nine members.
Pioneer High Income Trust
The terms of the Class II Trustees -- Mr. Cogan, Mr. Bock and Mr. West --
expire at the upcoming 2007 annual meeting; the terms of the Class III Trustees
-- Ms. Graham, Mr. Kingsbury and Mr. Winthrop -- expire in 2008; and the terms
of the Class I Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009.
2
Pioneer Floating Rate Trust
The terms of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West --
expire at the upcoming 2007 annual meeting; the terms of the Class II Trustees
-- Ms. Graham, Mr. Kingsbury and Mr. Winthrop -- expire in 2008; and the terms
of the Class III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in
2009.
Pioneer Municipal High Income Trust
The terms of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West --
expire at the upcoming 2007 annual meeting; the terms of the Class II Trustees
-- Ms. Graham, Mr. Kingsbury and Mr. Winthrop -- expire in 2008; and the terms
of the Class III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in
2009.
Pioneer Municipal High Income Advantage Trust
The terms of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West --
expire at the upcoming 2007 annual meeting; the terms of the Class II Trustees
-- Ms. Graham, Mr. Kingsbury and Mr. Winthrop -- expire in 2008; and the terms
of the Class III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in
2009.
Subsequently, for each fund, each class of Trustees will stand for election
at the conclusion of its respective three-year term. Such classification may
prevent replacement of a majority of the Trustees for up to a two-year period.
Mr. Cogan and Ms. Piret have been designated as the Trustees to be elected by
the holders of the Preferred Shares of each fund.
The following table sets forth the incumbent Trustees and each Trustee's
position(s) with each fund, his or her age, address, principal occupation and
employment during the past five years and any other directorship held. Trustees
who are interested persons of a fund within the meaning of the Investment
Company Act of 1940, as amended (the "1940 Act") are referred to as Interested
Trustees. Trustees who are not interested persons of a fund are referred to as
Independent Trustees. Each of the Trustees (except Mr. Kingsbury, Mr. West and
Mr. Bock) serves as a Trustee of each of the 83 U.S. registered investment
portfolios for which Pioneer Investment Management, Inc. ("Pioneer") serves as
investment adviser (the "Pioneer Funds"). Mr. Kingsbury serves as Trustee of 34
of the 83 Pioneer Funds, Mr. West serves as Trustee of 33 of the 83 Pioneer
Funds, and Mr. Bock serves as Trustee of 82 of the 83 Pioneer Funds. The address
of all Interested Trustees is 60 State Street, Boston, Massachusetts 02109.
3
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
-------------------- --------------- ------------------ ---------------------------- --------------
Interested Trustees:
John F. Cogan, Jr. Chairman of High Income Deputy Chairman and a None
(81)* the Board, Trust: Class II Director of Pioneer Global
Trustee and Trustee since Asset Management S.p.A.
President 2002. Term ("PGAM"); Non-Executive
expires in 2007. Chairman and a Director
Elected by of Pioneer Investment
Preferred Management USA Inc.
Shares only. ("PIM-USA"); Chairman
Municipal High and a Director of Pioneer;
Income Trust: Chairman and Director of
Class I Trustee Pioneer Institutional Asset
since 2003. Management, Inc. (since
Term expires in 2006); Director of
2007. Elected Pioneer Alternative
by Preferred Investment Management
Shares only. Limited (Dublin);
Municipal High President and a Director
Income of Pioneer Alternative
Advantage Investment Management
Trust: Class I (Bermuda) Limited and
Trustee since affiliated funds; Director
2003. Term of PIOGLOBAL Real
expires in 2007. Estate Investment
Elected by Fund (Russia) (until
Preferred June 2006); Director of
Shares only. Nano-C, Inc. (since
Floating Rate 2003); Director of Cole
Trust: Class I Management Inc. (since
Trustee since 2004); Director of
2004. Term Fiduciary Counseling,
expires in 2007. Inc.; President and
Elected by Director of Pioneer Funds
Preferred Distributor, Inc. ("PFD")
Shares only. (until May 2006);
President of all of the
Pioneer Funds; and Of
Counsel, Wilmer Cutler
Pickering Hale and Dorr
LLP (counsel to PIM-USA
and the Pioneer Funds)
4
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
---------------------- ---------------- ------------------ --------------------------- -------------------
Daniel K. Kingsbury Trustee and High Income Director, CEO and None
(48)* Executive Vice Trust: Class III President of Pioneer
President Trustee since Investment Management
2007. Term USA Inc.; Pioneer
expires in 2008. Investment Management,
Municipal High Inc. and Pioneer
Income Trust: Institutional Asset
Class II Trustee Management, Inc. (since
since 2007. March 2007); Executive
Term expires Vice President of all of
in 2008. the Pioneer Funds (since
Municipal High March 2007); Director of
Income Pioneer Global Asset
Advantage Management S.p.A.
Trust: Class II (since March 2007); Head
Trustee since of New Markets Division,
2007. Term Pioneer Global Asset
expires in 2008. Management S.p.A.
Floating Rate (2000-2007)
Trust: Class II
Trustee since
2007. Term
expires in 2008.
Independent Trustees:
David R. Bock Trustee High Income Executive Vice President Director of The
(63) Trust: Class II and Chief Financial Enterprise Social
3050 K Street NW, Trustee since Officer, I-trax, Inc. Investment
Washington, DC 20007 2005. Term (publicly traded health Company
expires in 2007. care services company) (privately-held
Municipal High (2004-present); and affordable housing
Income Trust: Partner, Federal City finance company);
Class I Trustee Capital Advisors and Director of
since 2005. (boutique merchant bank) New York
Term expires (1997 to 2004) Mortgage Trust
in 2007. (publicly traded
Municipal High mortgage REIT)
Income
Advantage
Trust: Class I
Trustee since
2005. Term
expires in 2007.
Floating Rate
Trust: Class I
Trustee since
2005. Term
expires in 2007.
5
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
------------------------ --------------- ------------------- -------------------------- --------------------
Mary K. Bush Trustee High Income President, Bush Director of Brady
(59) Trust: Class I International, LLC Corporation
3509 Woodbine Street, Trustee since (international financial (industrial
Chevy Chase, MD 2002. Term advisory firm) identification and
20815 expires in 2009. specialty coated
Municipal High material products
Income Trust: manufacturer);
Class III Trustee Director of Briggs
since 2003. & Stratton Co.
Term expires (engine
in 2009. manufacturer);
Municipal High Director of UAL
Income Corporation
Advantage (airline holding
Trust: Class III company); and
Trustee since Director of
2003. Term Mantech
expires in 2009. International
Floating Rate Corporation
Trust: Class III (national security,
Trustee since defense, and
2004. Term intelligence
expires in 2009. technology firm)
Margaret B.W. Graham Trustee High Income Founding Director, Vice- None
(60) Trust: Class III President and Corporate
1001 Sherbrooke Street Trustee since Secretary, The Winthrop
West, Montreal, 2002. Term Group, Inc. (consulting
Quebec, Canada expires in 2008. firm); and Desautels
H3A1G5 Municipal High Faculty of Management,
Income Trust: McGill University
Class II Trustee
since 2003.
Term expires
in 2008.
Municipal High
Income
Advantage
Trust: Class II
Trustee since
2003. Term
expires in 2008.
Floating Rate
Trust: Class II
Trustee since
2004. Term
expires in 2008.
6
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
---------------------- --------------- ------------------ --------------------------- -------------------
Thomas J. Perna (56) Trustee High Income Private investor (2004- Director of
89 Robbins Avenue, Trust: Class I present); and Senior Quadriserv Inc.
Berkeley Heights, NJ Trustee since Executive Vice President, (technology
07922 2006. Term The Bank of New York products for
expires in 2009. (financial and securities securities lending
Municipal High services) (1986-2004) industry)
Income Trust:
Class III Trustee
since 2006.
Term expires
in 2009.
Municipal High
Income
Advantage
Trust: Class III
Trustee since
2006. Term
expires in 2009.
Floating Rate
Trust: Class III
Trustee since
2006. Term
expires in 2009.
7
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
--------------------- --------------- ------------------ --------------------------- ------------------
Marguerite A. Piret Trustee High Income President and Chief Director of New
(59) Trust: Class I Executive Officer, America High
200 State Street, Trustee since Newbury, Piret & Income Fund, Inc.
12th Floor, 2002. Term Company, Inc. (closed-end
Boston, MA 02109 expires in 2009. (investment banking firm) investment
Elected by company)
Preferred
Shares only.
Municipal High
Income Trust:
Class III Trustee
since 2003.
Term expires
in 2009. Elected
by Preferred
Shares only.
Municipal High
Income
Advantage
Trust: Class III
Trustee since
2003. Term
expires in 2009.
Elected by
Preferred
Shares only.
Floating Rate
Trust: Class III
Trustee since
2004. Term
expires in 2009.
Elected by
Preferred
Shares only.
8
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
-------------------- --------------- ------------------ -------------------------- ---------------
Stephen K. West Trustee High Income Senior Counsel, Sullivan Director, The
(78) Trust: Class II & Cromwell (law firm) Swiss Helvetia
125 Broad Street, Trustee since Fund, Inc.
New York, NY 10004 2002. Term (closed-end
expires in 2007. investment
Municipal High company)
Income Trust:
Class I Trustee
since 2003.
Term expires
in 2007.
Municipal High
Income
Advantage
Trust: Class I
Trustee since
2003. Term
expires in 2007.
Floating Rate
Trust: Class I
Trustee since
2004. Term
expires in 2007.
9
Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held Length of Principal Occupation(s) Trustee or
and Address With the Fund Service During Past Five Years Nominee
---------------------- --------------- ------------------ -------------------------- --------------
John Winthrop Trustee High Income President, John Winthrop None
(71) Trust: Class III & Co., Inc. (private
One North Adgers Trustee since investment firm)
Wharf, 2002. Term
Charleston, SC 29401 expires in 2008.
Municipal High
Income Trust:
Class II Trustee
since 2003.
Term expires
in 2008.
Municipal High
Income
Advantage
Trust: Class II
Trustee since
2003. Term
expires in 2008.
Floating Rate
Trust: Class II
Trustee since
2004. Term
expires in 2008.
-------------
* Mr. Cogan and Mr. Kingsbury are Interested Trustees because each is an
officer or director of each fund's investment adviser and/or certain of its
affiliates.
Board Committees
The Board of Trustees for each fund has an Audit Committee, an Independent
Trustees Committee, a Nominating Committee, a Policy Administration Committee
and a Valuation Committee. Committee members are as follows:
Audit
David R. Bock, Margaret B.W. Graham, Marguerite A. Piret (Chair) and
Stephen K. West
Independent Trustees
David R. Bock, Mary K. Bush, Margaret B.W. Graham (Chair), Thomas J.
Perna, Marguerite A. Piret, Stephen K. West and John Winthrop
Nominating
Mary K. Bush, Marguerite A. Piret and John Winthrop (Chair)
Policy Administration
Mary K. Bush (Chair), Thomas J. Perna and John Winthrop
10
Valuation
David R. Bock, Margaret B.W. Graham, Marguerite A. Piret (Chair) and
Stephen K. West
During the most recent fiscal year, the Audit, Independent Trustees,
Nominating, Policy Administration and Valuation Committees of each fund held
the following meetings:
Municipal
Municipal High Income
High High Income Advantage Floating
Income Trust Trust Trust Rate Trust
-------------- ------------- ------------ -----------
Audit Committee ......................... 16 15 16 16
Independent Trustees Committee .......... 14 13 14 12
Nominating Committee .................... 5 5 5 3
Policy Administration Committee ......... 8 7 8 9
Valuation Committee ..................... 4 4 4 4
All members of each Audit Committee are "independent", as defined in the
applicable listing standard of the New York Stock Exchange currently in effect.
The Board of Trustees of each fund has adopted a charter for the Audit
Committee. In accordance with its charter, the purposes of the Audit Committee
are to:
o Assist the Board of Trustees' oversight of: (i) the integrity of the
fund's financial statements; (ii) the fund's compliance with legal and
regulatory requirements that relate to the fund's accounting and
financial reporting, internal financial controls and independent
audits (except to the extent such responsibility is delegated to
another committee of the Board); (iii) the independent registered
public accounting firm's qualifications, performance and independence;
and (iv) the performance of the fund's internal audit function; and
o Prepare an Audit Committee Report to the extent required by Securities
and Exchange Commission ("SEC") to be included in the fund's annual
proxy statement and other filings.
The Audit Committee reports that it has (1) reviewed and discussed each
fund's audited financial statements with management; (2) discussed with the
independent registered public accounting firm the matters relating to the
quality of each fund's financial reporting; and (3) received written disclosures
and an independence letter from the independent registered public accounting
firm and discussed with the independent registered public accounting firm that
firm's independence. Based upon the review and discussions referred to above,
the Audit Committee recommended to the Board of Trustees that the audited
financial statements be included in the Annual Report for Pioneer Floating Rate
Trust for the fiscal year ended November 30, 2006, the Annual Reports for
Pioneer High Income Trust and Pioneer Municipal High Income Advantage Trust for
the fiscal year ended March 31, 2007 and in the Annual Report for Pioneer
Municipal High Income Trust for the fiscal year ended April 30, 2007, for filing
with the SEC.
11
The Audit Committee charter is available on Pioneer's website:
www.pioneerinvestments.com. You can also obtain a copy by sending a written
request to your fund at the address listed on this proxy statement.
Each fund's Board of Trustees has determined that the fund has at least one
audit committee financial expert. Ms. Piret, an Independent Trustee, is the
Audit Committee's financial expert.
All members of the Nominating Committee are independent under the
applicable listing standards of the New York Stock Exchange, currently in effect
and are not interested persons, as defined in the 1940 Act, of Pioneer. The
Board of each fund has adopted a written charter for the Nominating Committee,
which is available on Pioneer's website: www.pioneerinvestments.com. You can
also obtain a copy by sending a written request to your fund at the address
listed on this proxy statement. The Nominating Committee reviews the
qualifications of persons being considered as candidates for Independent Trustee
and makes recommendations regarding the qualifications of such persons to the
Independent Trustees Committee. The Independent Trustees Committee then
evaluates any candidate and determines whether to nominate him or her for
election. The Trustees who are not Independent Trustees and the officers of each
fund are nominated and selected by the Board.
The Nominating Committee's charter provides for certain criteria to be used
in evaluating candidates for Independent Trustee. In reviewing a potential
nominee and in evaluating the re-nomination of current Independent Trustees, the
Nominating Committee applies the following criteria: (i) the nominee's
reputation for integrity, honesty and adherence to high ethical standards, (ii)
the nominee's business acumen and ability to exercise sound judgments, (iii) a
commitment to attend and participate in meetings of the Board and its
committees, (iv) the ability to understand potential conflicts of interest in
managing a fund and to act in the interests of all shareholders, and (v) the
absence of a real or apparent conflict of interest that would impair the
nominee's ability to represent the interests of all the shareholders and to
fulfill the responsibilities of an Independent Trustee. The Nominating Committee
does not necessarily place the same emphasis on each criterion.
As long as an existing Independent Trustee continues, in the opinion of the
other Independent Trustees, to satisfy these criteria and continues to make
positive contributions to the Board, each fund anticipates that Independent
Trustees of each fund would favor the re-nomination of an existing Trustee
rather than a new candidate. Consequently, while the Nominating Committee will
evaluate the qualifications of nominees recommended by shareholders to serve as
Trustee, the Independent Trustees might act upon the Nominating Committee's
evaluation only if there is a vacancy on the Board. In the event that a vacancy
arises or a change in Board membership is determined to be advisable, the
Nominating Committee will, in addition to any shareholder recommendations,
evaluate candidates identified by other means, including candidates proposed by
Independent Trustees or management. While it has not done so in the past, the
Nominating Committee may retain a consultant to assist the Committee in a search
for a qualified candidate.
12
Any shareholder recommendation must be submitted in compliance with all of
the pertinent provisions of Regulation 14A under the Securities Exchange Act of
1934, as amended (the "Exchange Act") and the Agreement and Declaration of Trust
and By laws of the fund to be considered by the Nominating Committee. In
evaluating a nominee recommended by a shareholder, the Nominating Committee, in
addition to the criteria discussed above, may consider the objectives of the
shareholder in submitting that nomination and whether such objectives are
consistent with the interests of all shareholders. If the Board determines to
include a shareholder's candidate among the slate of nominees, the candidate's
name will be placed on the fund's proxy card. If the Nominating Committee, the
Independent Trustees or the Board determines not to include such candidate among
the Board's designated nominees and the shareholder has satisfied the
requirements of Rule 14a-8 under the Exchange Act, the shareholder's candidate
will be treated as a nominee of the shareholder who originally nominated the
candidate.
The Nominating Committee initiated the recommendation of each of the
nominees to serve as Independent Trustee.
Shareholders may communicate with the members of the Board as a group or
individually. Any such communication should be sent to the Board or an
individual Trustee c/o the Secretary of the fund at the address on the notice of
this meeting. The Secretary may determine not to forward any communication to
members of the Board that does not relate to the business of a fund.
The Valuation Committee reviews the valuation assigned to certain
securities by Pioneer in accordance with each fund's valuation procedures.
The Policy Administration Committee reviews the implementation of certain
of each fund's administrative policies and procedures.
The Independent Trustees Committee reviews each fund's management contract
and other related party contracts annually and is also responsible for any other
action required to be taken, under the 1940 Act, by the Independent Trustees
acting separately.
Each fund's Agreement and Declaration of Trust provides that the fund will
indemnify the Trustees and officers against liabilities and expenses reasonably
incurred in connection with any litigation in which they may be involved because
of their offices with the fund, unless it is determined in the manner specified
in the Agreement and Declaration of Trust that they have not acted in good faith
in the reasonable belief that their actions were in the best interests of the
fund or that such indemnification would relieve any officer or Trustee of any
liability to the fund or its shareholders by reason of willful misfeasance, bad
faith, gross negligence or reckless disregard of his or her duties.
For Pioneer High Income Trust, Pioneer Municipal High Income Advantage
Trust, and Pioneer Municipal High Income Trust, during each fund's most recent
fiscal year, the Board of Trustees held 11 meetings. For Pioneer Floating Rate
Trust, during the fund's most recent fiscal year, the Board of Trustees held 10
meetings. All of the current Trustees and
13
committee members of each fund then serving attended at least 75% of the
meetings of the Board of Trustees and applicable committees, if any, held
during that fund's fiscal year.
The following table indicates the value of shares that each Trustee or
nominee beneficially owned in each fund and Pioneer Funds in the aggregate as of
June 30, 2007. Beneficial ownership is determined in accordance with SEC rules.
The share value of any closed-end Pioneer fund is based on its closing market
price on June 30, 2007. The share value of any open-end Pioneer fund is based on
the net asset value of the class of shares on June 30, 2007. The dollar ranges
in this table are in accordance with SEC requirements.
14
Aggregate Dollar Range
of Equity Securities in
All Pioneer Funds
Dollar Range of Overseen or to be
Equity Securities Overseen by Trustee
Name of Trustee or Nominee in each Fund or Nominee
--------------------------------------------------------------------------------
INTERESTED TRUSTEE or NOMINEE
John F. Cogan, Jr. ............ Over $100,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
Daniel K. Kingsbury* .......... $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
INDEPENDENT TRUSTEE or NOMINEE
David R. Bock ................. $10,001 to $50,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
Mary K. Bush .................. $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
Margaret B. W. Graham ......... $1 to $10,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
Thomas J. Perna ............... $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
Marguerite A. Piret ........... $0(1) Over $100,000
$0(2)
$0(3)
$10,001 to $50,000(4)
Stephen K. West ............... $1 to $10,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
John Winthrop ................. $1 to $10,000(1) Over $100,000
$1 to $10,000(2)
$1 to $10,000(3)
$0(4)
-------------
* Mr. Kingsbury became a Trustee on March 6, 2007.
(1) Shares held in Pioneer High Income Trust
(2) Shares held in Pioneer Municipal High Income Trust
(3) Shares held in Pioneer Municipal High Income Advantage Trust
(4) Shares held in Pioneer Floating Rate Trust
15
For each of the funds, during the most recent fiscal year, none of the
Trustees or any nominee for election as a Trustee engaged in the purchase or
sale of securities of Pioneer, UniCredito Italiano or any other entity in a
control relationship to Pioneer or PFD.
Material Relationships of the Independent Trustees
For purposes of the statements below:
o the immediate family members of any person are his or her spouse,
children in the person's household (including step and adoptive
children) and any dependent of the person.
o an entity in a control relationship means any person who controls, is
controlled by or is under common control with the named person. For
example, UniCredito Italiano is an entity that is in a control
relationship with Pioneer.
o a related fund is a registered investment company or an entity exempt
from the definition of an investment company pursuant to Sections
3(c)(1) or 3(c)(7) of the 1940 Act, for which Pioneer or any of its
affiliates act as investment adviser or for which PFD or any of its
affiliates act as principal underwriter. For example, each fund's
related funds include all of the Pioneer Funds and any non-U.S. funds
managed by Pioneer or its affiliates.
As of December 31, 2006, for each fund, none of the Independent Trustees,
nor any of their immediate family members, beneficially owned any securities
issued by Pioneer, UniCredito Italiano or any other entity in a control
relationship to Pioneer or PFD.
During the past five years, for each fund, none of the Independent
Trustees, nor any of their immediate family members, had any direct or indirect
interest (the value of which exceeded $120,000), whether by contract,
arrangement or otherwise, in Pioneer, UniCredito Italiano, or any other entity
in a control relationship to Pioneer or PFD.
During the past five years, for each fund, none of the Independent
Trustees, nor any of their immediate family members, had an interest in a
transaction or a series of transactions, or in any currently proposed
transaction, or series of similar transactions, in which the aggregate amount
involved exceeded $120,000 and to which any of the following were a party (each
a "fund related party"):
o the fund
o an officer of the fund
o a related fund
o an officer of any related fund
o Pioneer or PFD
o an officer of Pioneer or PFD
o any affiliate of Pioneer or PFD
o an officer of any such affiliate
16
During the calendar years 2005 and 2006, for each fund, none of the
Independent Trustees, nor any of their immediate family members, had any
relationship (the value of which exceeded $120,000) with any fund related party,
including, but not limited to, relationships arising out of (i) the payment for
property and services, (ii) the provision of legal services, (iii) the provision
of investment banking services (other than as a member of the underwriting
syndicate) or (iv) the provision of consulting services, except that Mr. West,
an Independent Trustee, is Senior Counsel to Sullivan & Cromwell and acts as
counsel to the Independent Trustees and the Independent Trustees of the other
Pioneer Funds. The aggregate compensation paid to Sullivan & Cromwell by the
funds and certain other Pioneer Funds was approximately $173,353 and $287,453 in
2005 and 2006, respectively.
During the calendar years 2005 and 2006, for each fund, none of the
Independent Trustees, nor any of their immediate family members, served as a
member of a board of directors on which an officer of any of the following
entities also serves as a director:
o Pioneer
o PFD
o UniCredito Italiano
o any other entity in a control relationship with Pioneer or PFD
None of the funds' Trustees or officers has any arrangement with any other
person pursuant to which that Trustee or officer serves on the Board of
Trustees. During the calendar years 2005 and 2006, for each fund, none of the
Independent Trustees, nor any of their immediate family members, had any
position, including as an officer, employee, director or partner, with any of
the following:
o the fund
o any related fund
o Pioneer
o PFD
o any affiliated person of the fund, Pioneer or PFD
o UniCredito Italiano
o any other entity in a control relationship to the fund, Pioneer or PFD
Compliance with Section 16(a) Reporting Requirements
Section 16(a) of the Exchange Act requires each fund's executive officers,
Trustees and persons who own more than ten percent of a fund's shares ("10%
Shareholders") to file reports of ownership and changes in ownership with the
SEC. Executive officers, Trustees and 10% Shareholders are required by SEC
regulations to furnish the fund with copies of all Section 16(a) forms they
file. Except as noted below, based solely on a review of the copies of these
reports furnished to each of the funds and representations that no other
reports were required to be filed, each fund believes that during the past
fiscal year
17
its executive officers, Trustees and 10% Shareholders complied with all
applicable Section 16(a) filing requirements.
Other executive officers
In addition to Mr. Cogan and Mr. Kingsbury, who serve as President and
Executive Vice President, respectively, of each fund, the following table
provides information with respect to the other executive officers of the funds.
Each executive officer is elected by the Board of Trustees and serves until his
or her successor is chosen and qualified or until his or her resignation or
removal by the Board. The business address of all officers of the funds is 60
State Street, Boston, Massachusetts 02109.
Name, age and position with each fund Principal occupation(s)
--------------------------------------------------------------------------------
Dorothy E. Bourassa (59) Secretary of PIM-USA; Senior Vice President --
Secretary Legal of Pioneer; Secretary/Clerk of most of
PIM-USA's subsidiaries; and Secretary of all
of the Pioneer Funds since September 2003
(Assistant Secretary from November 2000 to
September 2003)
Christopher J. Kelley (42) Vice President and Senior Counsel of Pioneer;
Assistant Secretary and Assistant Secretary of all of the Pioneer
Funds since September 2003
Christopher P. Harvey (46) Partner, Wilmer Cutler Pickering Hale and
Assistant Secretary Dorr LLP; and Assistant Secretary of all of the
Pioneer Funds since July 2006
Vincent Nave (62) Vice President -- Fund Accounting,
Treasurer Administration and Controllership Services of
Pioneer; and Treasurer of all of the Pioneer Funds
Mark E. Bradley (47) Deputy Treasurer of Pioneer since 2004; Treasurer
Assistant Treasurer and Senior Vice President, CDC IXIS Asset
Management Services from 2002 to 2003; and
Assistant Treasurer of all of the Pioneer Funds
since November 2004
Luis I. Presutti (42) Assistant Vice President -- Fund Accounting,
Assistant Treasurer Administration and Controllership Services of
Pioneer; and Assistant Treasurer of all of the
Pioneer Funds
Gary Sullivan (49) Fund Accounting Manager -- Fund Accounting,
Assistant Treasurer Administration and Controllership Services of
Pioneer; and Assistant Treasurer of all of the
Pioneer Funds
18
Name, age and position with each fund Principal occupation(s)
--------------------------------------------------------------------------------
Katherine Kim Sullivan (33) Fund Administration Manager -- Fund
Assistant Treasurer Accounting, Administration and Controllership
Services since June 2003; Assistant Vice
President -- Mutual Fund Operations of State
Street Corporation from June 2002 to June 2003
(formerly Deutsche Bank Asset Management); and
Assistant Treasurer of all of the Pioneer Funds
since September 2003
Teri W. Anderholm (47) Chief Compliance Officer of Pioneer since
Chief Compliance Officer December 2006 and of all the Pioneer Funds
since January 2007; Vice President and
Compliance Officer, MFS Investment Management
(August 2005 to December 2006); Consultant,
Fidelity Investments (February 2005 to July 2005):
and Independent Consultant (July 1997 to
February 2005)
19
Compensation of trustees and officers
The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer High Income Trust and Pioneer Municipal
High Income Advantage Trust for the fiscal year ended March 31, 2007. The
amounts paid to the Trustees by each fund differ due to (i) membership on or
chairing certain committees of the Board of Trustees and (ii) attendance at
meetings. The fund does not pay any salary or other compensation to its
officers.
Pioneer High Income Trust and Pioneer Municipal High Income Advantage Trust:
Pension or Retirement Total Compensation
Aggregate Benefits Accrued as from the Fund and
Compensation Part of Fund Other Pioneer
Name of Trustee from each Fund Expenses Funds(2)
---------------------------------------------------------------------------------------------
Interested Trustees:
John F. Cogan, Jr.(1) ............$ 500.00*
$ 500.00** $ 0.00 $ 35,300.00
Daniel K. Kingsbury(1),(3) ..... $ 0.00*
$ 0.00** 0.00 $ 0.00
Osbert M. Hood1,(4) ............. $ 500.00*
$ 500.00** 0.00 $ 14,000.00
Independent Trustees:
David R. Bock .................. $ 1,641.41*
$ 1,529.60** 0.00 $ 148,000.00
Mary K. Bush ................... $ 1,619.00*
$ 1,518.17** 0.00 $ 146,750.00
Margaret B.W. Graham ........... $ 1,688.75*
$ 1,570.92** 0.00 $ 152,750.00
Thomas J. Perna ................ $ 1,589.18*
$ 1,490.10** 0.00 $ 143,500.00
Marguerite A. Piret ............ $ 1,946.86*
$ 1,785.60** 0.00 $ 178,250.00
Stephen K. West ................ $ 1,591.28*
$ 1,491.78** 0.00 $ 55,607.57
John Winthrop .................. $ 1,556.41*
$ 1,465.40** 0.00 $ 140,500.00
------------ ------- --------------
Total .......................... $ 12,632.81*
$ 11,851.57** $ 0.00 $ 1,014,657.57
============ ======= ==============
-------------
(1) Under the management contract, Pioneer reimburses each fund for any
Interested Trustees fees paid by the fund.
(2) There are 83 U.S. registered investment portfolios in the Pioneer Family of
Funds.
(3) Mr. Kingsbury became a Trustee on March 6, 2007.
(4) Mr. Hood resigned as Trustee effective January 9, 2007.
* Aggregate compensation from Pioneer High Income Trust.
** Aggregate compensation from Pioneer Municipal High Income Advantage Trust.
20
The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer Municipal High Income Trust for the
fiscal year ended April 30, 2007. The amounts paid to the Trustees differ due to
(i) membership on or chairing certain committees of the boards of Trustees and
(ii) attendance at meetings. The fund does not pay any salary or other
compensation to its officers.
Pioneer Municipal High Income Trust:
Pension or Retirement Total Compensation
Aggregate Benefits Accrued as from the Fund and
Compensation Part of Fund Other Pioneer
Name of Trustee from Fund Expenses Funds(2)
---------------------------------------------------------------------------------------------
Interested Trustees:
John F. Cogan, Jr.(1) .......... $ 500.00 $ 0.00 $ 35,300.00
Daniel K. Kingsbury(1),(3) ..... $ 0.00 0.00 $ 0.00
Osbert M. Hood1,(4) ............ $ 500.00 0.00 $ 14,000.00
Independent Trustees:
David R. Bock .................. $ 1,413.04 0.00 $ 148,000.00
Mary K. Bush ................... $ 1,404.24 0.00 $ 146,750.00
Margaret B.W. Graham ........... $ 1,445.54 0.00 $ 152,750.00
Thomas J. Perna ................ $ 1,382.12 0.00 $ 143,500.00
Marguerite A. Piret ............ $ 1,612.93 0.00 $ 178,250.00
Stephen K. West ................ $ 1,383.69 0.00 $ 55,607.57
John Winthrop .................. $ 1,363.04 0.00 $ 140,500.00
----------- ------- --------------
Total .......................... $ 11,004.60 $ 0.00 $ 1,014,657.57
=========== ======= ==============
-------------
(1) Under the management contract, Pioneer reimburses each fund for any
Interested Trustees fees paid by the fund.
(2) There are 83 U.S. registered investment portfolios in the Pioneer Family of
Funds.
(3) Mr. Kingsbury became a Trustee on March 6, 2007.
(4) Mr. Hood resigned as Trustee effective January 9, 2007.
21
The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer Floating Rate Trust for the fiscal year
ended November 30, 2006. The amounts paid to the Trustees differ due to (i)
membership on or chairing certain committees of the boards of Trustees and (ii)
attendance at meetings. The fund does not pay any salary or other compensation
to its officers.
Pioneer Floating Rate Trust:
Pension or Retirement Total Compensation
Aggregate Benefits Accrued as from the Fund and
Compensation Part of Fund Other Pioneer
Name of Trustee from Fund Expenses Funds(2)
---------------------------------------------------------------------------------------------
Interested Trustees:
John F. Cogan, Jr.(1) .......... $ 500.00 $ 0.00 $ 35,300.00
Daniel K. Kingsbury(1),(3) ..... $ 0.00 0.00 $ 0.00
Osbert M. Hood1,(4) ............ $ 500.00 0.00 $ 14,000.00
Independent Trustees:
David R. Bock .................. $ 1,977.28 0.00 $ 149,500.00
Mary K. Bush ................... $ 1,955.88 0.00 $ 148,250.00
Margaret B.W. Graham ........... $ 2,075.37 0.00 $ 155,750.00
Thomas J. Perna(5) ............. $ 1,640.53 0.00 $ 126,053.12
Marguerite A. Piret ............ $ 2,426.62 0.00 $ 178,250.00
Stephen K. West ................ $ 1,882.94 0.00 $ 54,506.57
John Winthrop .................. $ 1,834.92 0.00 $ 140,500.00
----------- ------- --------------
Total .......................... $ 14,793.54 $ 0.00 $ 1,002,109.69
=========== ======= ==============
-------------
(1) Under the management contract, Pioneer reimburses each fund for any
Interested Trustees fees paid by the fund.
(2) There are 83 U.S. registered investment portfolios in the Pioneer Family of
Funds.
(3) Mr. Kingsbury became a Trustee on March 6, 2007.
(4) Mr. Hood resigned as Trustee effective January 9, 2007.
(5) Mr. Perna became a Trustee on February 7, 2006.
Investment adviser and administrator
Pioneer, whose executive offices are located at 60 State Street, Boston,
Massachusetts 02109, serves as investment adviser and administrator to each
fund.
The Trustees may, but generally do not, attend shareholder meetings.
Required vote
In accordance with each fund's Agreement and Declaration of Trust, the
holders of Common Shares and Preferred Shares of each fund will vote on the
respective nominees designated to be elected by such class of shares. Mr.
Cogan, Mr. Bock and Mr. West are the current nominees for election for each
fund's Board of Trustees. Mr. Bock and Mr. West are each elected by the holders
of Common and Preferred Shares. Mr. Cogan is elected by the holders of
Preferred Shares, only. The affirmative vote of a plurality of the Common
22
and Preferred Shares for each fund present at the meeting in person or by
proxy, voting together as a single class, is required to elect such nominee for
Trustee designated to be elected by the Common and Preferred Shares. The
affirmative vote of a plurality of the Preferred Shares for each fund present
at the meeting in person or by proxy is required to elect such nominee for
Trustee designated to be elected by the Preferred Shares. This means that the
three nominees receiving the greatest number of votes with respect to the
voting class or classes, as the case may be, will be elected as Class II
Trustees to the Board of Pioneer High Income Trust and Class I Trustees to the
Board of Pioneer Floating Rate Trust, Pioneer Municipal High Income Trust and
Pioneer Municipal High Income Advantage Trust.
Recommendation
For the reasons set forth above, the Trustees of your fund unanimously
recommend that shareholders vote FOR each of Mr. Bock, Mr. Cogan and Mr. West.
23
AUDITOR INFORMATION
Audit fees
The aggregate fees billed for professional services rendered by Ernst &
Young LLP for its audit of each fund's annual financial statements and fees
related to consents and comfort letters for the two most recent fiscal years
contained in the annual reports filed by each fund for such years were as
follows:
For the fiscal year For the fiscal year
ended 3/31/2007 ended 3/31/2006
------------------------------------------------------------------------------------------------------
Pioneer High Income Trust ............................. $38,545 $23,920
Pioneer Municipal High Income Advantage Trust ......... $38,545 $26,335
For the fiscal year For the fiscal year
ended 4/30/2007 ended 4/30/2006
------------------------------------------------------------------------------------------------------
Pioneer Municipal High Income Trust ................... $38,545 $26,335
For the fiscal year For the fiscal year
ended 11/30/2006 ended 11/30/2005
------------------------------------------------------------------------------------------------------
Pioneer Floating Rate Trust ........................... $38,110 $83,500
Audit-related fees
The following are aggregate fees billed for assurance and related services
by Ernst & Young LLP to each fund that are related to the review of each fund's
semi-annual financial statements and agreed upon procedures related to the
ratings of each fund's Preferred Shares for the two most recent fiscal years.
All of these services were approved by the Audit Committee of each fund
pursuant to Regulation S-X.
For the fiscal year For the fiscal year
ended 3/31/2007 ended 3/31/2006
------------------------------------------------------------------------------------------------------
Pioneer High Income Trust ............................. $9,285 $8,500
Pioneer Municipal High Income Advantage Trust ......... $9,285 $8,500
For the fiscal year For the fiscal year
ended 4/30/2007 ended 4/30/2006
------------------------------------------------------------------------------------------------------
Pioneer Municipal High Income Trust ................... $9,825 $8,500
For the fiscal year For the fiscal year
ended 11/30/2006 ended 11/30/2005
------------------------------------------------------------------------------------------------------
Pioneer Floating Rate Trust ........................... $8,925 $14,500
Tax fees
The aggregate fees billed for professional services, primarily for tax
returns, rendered by Ernst & Young LLP for tax compliance, tax advice and tax
planning to each fund for the two most recent fiscal years were as follows. All
of these services were approved by the Audit Committee of each fund pursuant to
Regulation S-X.
24
For the fiscal year For the fiscal year
ended 3/31/2007 ended 3/31/2006
------------------------------------------------------------------------------------------------------
Pioneer High Income Trust ............................. $7,820 $6,800
Pioneer Municipal High Income Advantage Trust ......... $7,820 $6,800
For the fiscal year For the fiscal year
ended 4/30/2007 ended 4/30/2006
------------------------------------------------------------------------------------------------------
Pioneer Municipal High Income Trust ................... $7,820 $6,800
For the fiscal year For the fiscal year
ended 11/30/2006 ended 11/30/2005
------------------------------------------------------------------------------------------------------
Pioneer Floating Rate Trust ........................... $7,515 $6,800
All other fees
There were no fees billed for other services rendered by Ernst & Young LLP
to the funds.
Affiliates' Fees for Non-Audit Services Required to be Pre-Approved
Each fund's Audit Committee is required to pre-approve services to
affiliates as defined by SEC rules to the extent that the services are
determined to have a direct impact on the operations or financial reporting of
the fund. Affiliates include the fund's investment adviser and any entity
controlling, controlled by, or under common control with the adviser that
provides ongoing services to the fund (hereinafter referred to as "affiliates"
of the fund). For the fiscal years ended March 31, 2007 and 2006, for Pioneer
High Income Trust and Pioneer Municipal High Income Advantage Trust, there were
no services provided to an affiliate that required the fund's audit committee
pre-approval. For the fiscal years ended April 30, 2007 and 2006, for Pioneer
Municipal High Income Trust, there were no services provided to an affiliate
that required the fund's Audit Committee pre-approval. For the fiscal years
ended November 30, 2006 and 2005, for Pioneer Floating Rate Trust, there were
no services provided to an affiliate that required the fund's audit committee
pre-approval.
General Audit Committee Approval Policy
o For all projects, each of the officers of the funds and the funds'
independent registered public accounting firm will make an assessment to
determine that any proposed projects will not impair independence.
o Potential services will be classified into the four non-restricted service
categories and the "Approval of Audit, Audit-Related, Tax and Other
Services" Policy will be applied. Any services outside the specific
pre-approved service subcategories set forth above must specifically be
approved by the Audit Committee.
o At least quarterly, the Audit Committee shall review a report summarizing
the services by service category, including fees, provided by the
independent registered public accounting firm as set forth in the above
policy.
Aggregate Non-Audit Fees
The aggregate non-audit fees for each fund and its affiliates, as
previously defined, were as follows.
25
For the fiscal year For the fiscal year
ended 3/31/2007 ended 3/31/2006
------------------------------------------------------------------------------------------------------
Pioneer High Income Trust ............................. $17,110 $15,300
Pioneer Municipal High Income Advantage Trust ......... $17,110 $15,300
For the fiscal year For the fiscal year
ended 4/30/2007 ended 4/30/2006
------------------------------------------------------------------------------------------------------
Pioneer Municipal High Income Trust ................... $17,105 $15,300
For the fiscal year For the fiscal year
ended 11/30/2006 ended 11/30/2005
------------------------------------------------------------------------------------------------------
Pioneer Floating Rate Trust ........................... $16,440 $21,300
The Audit Committee of the Board of each fund has considered whether the
provision of services, other than audit services, by Ernst & Young LLP to each
fund and its affiliates is compatible with maintaining Ernst & Young LLP's
independence in performing audit services.
Representatives of Ernst & Young LLP will be available at the shareholder
meeting (either in person or via telephone), will have the opportunity to make
a statement should they desire to do so, and will be available to answer
questions.
26
INFORMATION CONCERNING THE MEETINGS
Outstanding shares and quorum
As of the record date, the following Common and Preferred Shares of
beneficial interest were outstanding for each fund:
Common Shares Preferred Shares
----------------------------------------------------------------------------------------
Pioneer High Income Trust .................... 27,120,201 2,020 Series M
2,020 Series W
2,000 Series TH
Pioneer Municipal High Income Trust .......... 22,120,893 2,000 Series A
2,040 Serie B
Pioneer Municipal High Income Advantage Trust 22,740,627 3,000 Series A
3,000 Series B
Pioneer Floating Rate Trust .................. 24,399,062 3,130 Series M7
3,125 Series W7
3,125 Series TH7
Only shareholders of record as of the record date are entitled to notice of
and to vote at the meeting. The holders of one-third of the outstanding shares
of each series or class of each fund or one third of the outstanding shares of
each fund, entitled to vote in person or by proxy, shall constitute a quorum for
the transaction of business with respect to such class or classes for each fund,
respectively.
27
Ownership of shares of the funds
To the knowledge of each fund, as of the record date, the following
persons owned of record or beneficially 5% or more of a class of the
outstanding shares of each class of a fund:
Pioneer High Income Trust
Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------
Cede & Co. Common 27,028,188 99.66
Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series M 339 16.78
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------
Series TH 141 7.05
------------------------------------------------------------------------------------
Series W 231 11.44
------------------------------------------------------------------------------------
Credit Suisse Series W 126 6.24
11 Madison Ave.
New York, NY 10010-3629
------------------------------------------------------------------------------------
Dean Witter Series M 493 24.41
Harborside Financial Center
34 Exchange Place Plaza 2,
2nd Floor
Jersey City, NJ 07311
------------------------------------------------------------------------------------
Series TH 736 36.80
------------------------------------------------------------------------------------
Series W 315 15.59
------------------------------------------------------------------------------------
Deutsche Bank Securities Series W 404 20.00
60 Wall Street
New York, NY 10005
------------------------------------------------------------------------------------
Merrill Lynch Series M 581 28.76
4804 Deer Lake Drive East
4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------
Series TH 592 29.60
------------------------------------------------------------------------------------
Series W 219 10.84
------------------------------------------------------------------------------------
Citigroup Global Markets, Inc. Series M 267 13.22
333 West 34th Street 3(rd) Floor
New York, NY 10001-2402
------------------------------------------------------------------------------------
Series W 192 9.50
------------------------------------------------------------------------------------
28
Record Holder Share Class Number of Shares % of Class
-----------------------------------------------------------------------------------------
CIBC World Markets Series M 107 5.30
Oppenheimer Tower
World Financial Center
200 Liberty Street
New York, NY 10281-0000
-----------------------------------------------------------------------------------------
Series TH 224 11.20
-----------------------------------------------------------------------------------------
Series W 323 15.99
-----------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series M 197 9.75
125 Broad Street
16th Floor
New York, NY 10004-2464
-----------------------------------------------------------------------------------------
Series TH 200 10.00
-----------------------------------------------------------------------------------------
Series W 199 9.85
-----------------------------------------------------------------------------------------
29
Pioneer Municipal High Income Advantage Trust
Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------------
Cede & Co. Common 22,663,376 99.66
Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series A 819 27.30
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------------
Series B 1,085 36.17
------------------------------------------------------------------------------------------
Merrill Lynch Series A 575 19.17
4804 Deer Lake Drive East, 4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------------
Series B 209 6.97
------------------------------------------------------------------------------------------
Wachovia Securities Series A 170 5.67
901 East Byrd St
Richmond, VA 23219
------------------------------------------------------------------------------------------
Series B 332 11.07
------------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series A 861 28.70
125 Broad Street 16th Floor
New York, NY 10004-2464
------------------------------------------------------------------------------------------
Series B 1,010 33.67
------------------------------------------------------------------------------------------
Jeffries & Company Inc. Series B 242 8.07
Harborside Financial Center
Plaza III, Suite 705
Jersey City, NJ 07311-0000
------------------------------------------------------------------------------------------
Dean Witter Series A 206 6.87
Harborside Financial Center
34 Exchange Place Plaza 2,
2nd Floor
Jersey City, NJ 07311
------------------------------------------------------------------------------------------
Morgan Keegan Series A 272 9.07
50 North Front Street
Memphis, TN 38103-2126
------------------------------------------------------------------------------------------
30
Pioneer Municipal High Income Trust
Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------------
Cede & Co. Common 21,992,494 99.42
Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series A 685 34.25
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------------
Series B 545 26.72
------------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series A 541 27.05
125 Broad Street, 16th Floor
New York, NY 10004-2464
------------------------------------------------------------------------------------------
Series B 539 26.42
------------------------------------------------------------------------------------------
Merrill Lynch Series A 151 7.55
4804 Deer Lake Drive East, 4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------------
Series B 176 8.63
------------------------------------------------------------------------------------------
Morgan Keegan Series A 252 12.60
50 North Front Street
Memphis, TN 38103-2126
------------------------------------------------------------------------------------------
Series B 210 10.29
------------------------------------------------------------------------------------------
Wachovia Securities Series A 182 9.10
901 East Byrd St
Richmond, VA 23219
------------------------------------------------------------------------------------------
Series B 162 7.94
------------------------------------------------------------------------------------------
Jeffries & Company Inc. Series B 105 5.15
Harborside Financial Center
Plaza III, Suite 705
Jersey City, NJ 07311-0000
------------------------------------------------------------------------------------------
Dean Witter Series A 107 5.35
Harborside Financial Center
34 Exchange Place Plaza 2,
2nd Floor
Jersey City, NJ 07311
------------------------------------------------------------------------------------------
Series B 223 10.93
------------------------------------------------------------------------------------------
31
Pioneer Floating Rate Trust
Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------------
Cede & Co. Common 24,388,145 99.96
Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series M7 579 18.50
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------------
Series TH7 649 20.77
------------------------------------------------------------------------------------------
Series W7 896 28.67
------------------------------------------------------------------------------------------
Merrill Lynch Series M7 1,916 61.21
4804 Deer Lake Drive East
4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------------
Series TH7 1,685 53.92
------------------------------------------------------------------------------------------
Series W7 1,525 48.80
------------------------------------------------------------------------------------------
Citigroup Global Markets, Inc. Series M7 240 7.67
333 West 34th Street 3rd Floor
New York, NY 10001-2402
------------------------------------------------------------------------------------------
Series TH7 267 8.54
------------------------------------------------------------------------------------------
Series W7 331 10.59
------------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series M7 395 12.62
125 Broad Street
16th Floor
New York, NY 10004-2464
------------------------------------------------------------------------------------------
Series TH7 524 16.77
------------------------------------------------------------------------------------------
32
Shareholder proposals
Under Rule 14a-8 of the Exchange Act (relating to shareholder proposals),
any shareholder proposal that may properly be included in your fund's proxy
statement for the 2008 annual meeting, must be received by the Secretary of the
fund at the fund's principal offices at 60 State Street, Boston, Massachusetts
02109 120 calendar days prior to the anniversary of the date of mailing of the
fund's proxy statement for the 2007 annual meeting, or on or before April 7,
2008. A proposal that is not to be included in a fund's proxy statement may be
made at the 2008 annual meeting for such fund only if it is received by the
Secretary of the fund at the fund's principal offices at 60 State Street,
Boston, Massachusetts 02109 not more than 120 days and at least 90 days before
the anniversary date of the mailing of the fund's proxy materials for this
year's annual meeting provided, however, that in the event that the date of the
mailing of the notice for the 2008 annual meeting for a fund is advanced or
delayed by more than thirty (30) days from the anniversary date of the mailing
of the notice for this year's annual meeting, notice by a shareholder to be
timely must be so delivered not earlier than the close of business on the 120th
day prior to the date of mailing of the notice for the 2008 annual meeting and
not later than the close of business on the later of the 90th day prior to the
date of mailing of the notice for the 2008 annual meeting or the 10th day
following the day on which public announcement of the date of mailing of the
notice for the 2008 meeting is first made by the fund. The fund's By-laws
require that certain information must be provided by the shareholder to the fund
when notice of a nominee for election as a Trustee or proposal is submitted to
the fund.
The submission by a shareholder of a proposal for inclusion in a proxy
statement does not guarantee that it will be included. Pioneer Floating Rate
Trust currently expects to hold the next annual shareholders' meeting on or
about June 24, 2008, which date is subject to change. Pioneer High Income Trust,
Pioneer Municipal High Income Trust and Pioneer Municipal High Income Advantage
Trust currently expect to hold the next annual shareholders' meeting on or about
August 5, 2008, which date is subject to change. Shareholder proposals are
subject to certain regulations under the federal securities laws.
Proxies, quorum and voting at the meeting
Any shareholder who has given his or her proxy to someone generally has
the power to revoke that proxy at any time prior to its exercise by executing a
superseding proxy or by submitting a notice of revocation to the Secretary of
the fund. In addition, although mere attendance at the meeting will not revoke
a proxy, a shareholder present at the meeting may withdraw his or her proxy and
vote in person. All properly executed and unrevoked proxies received in time
for the meeting will be voted in accordance with the instructions contained in
the proxies. If no instruction is given, the persons named as proxies will vote
the shares represented thereby in favor of the nominees in Proposal 1, as
described above, and will use their best judgment in connection with the
transaction of such other business as may properly come before the meeting or
any adjournment or postponement thereof.
For each fund, one-third of the outstanding shares of each series or class,
or one-third of the outstanding shares of the fund, entitled to vote, present in
person or
33
represented by proxy, constitutes a quorum for the transaction of business at
the meeting with respect to such series or class, or with respect to the entire
fund, respectively. For the two Trustees to be elected by the holders of the
Common and Preferred Shares, voting together as a single class, one-third of
the outstanding shares of the Common and Preferred Shares, counted together,
constitutes a quorum. For the one Trustee to be elected by the holders of the
Preferred Shares, voting as a separate class, one-third of the outstanding
shares of the Preferred Shares constitutes a quorum. In the event that at the
time any session of the meeting is called to order a quorum is not present in
person or by proxy, the persons named as proxies may vote those proxies that
have been received to adjourn the shareholder meeting to a later date. In the
event that a quorum is present but sufficient votes in favor of the proposal
have not been received, the persons named as proxies may propose one or more
adjournments of the shareholder meeting to permit further solicitation of
proxies with respect to such proposal. Any such adjournment will require the
affirmative vote of more than one half of the shares of the fund present in
person or by proxy at the session of the meeting to be adjourned. The persons
named as proxies will vote those proxies which they are entitled to vote in
favor of any such proposal in favor of such an adjournment and will vote those
proxies required to be voted against any such proposal against any such
adjournment. A shareholder vote may be taken on one or more of the proposals in
the proxy statement prior to such adjournment if sufficient votes for its
approval have been received and it is otherwise appropriate. Such vote will be
considered final regardless of whether the meeting is adjourned to permit
additional solicitation with respect to any other proposal.
Shares of the fund represented in person or by proxy, including shares that
abstain or do not vote with respect to a proposal, will be counted for purposes
of determining whether there is a quorum at the meeting. However, an abstention
from voting has the same effect as a vote against a proposal. Also, if a broker
or nominee holding shares in "street name" indicates on the proxy card that it
does not have discretionary authority to vote on a proposal and has not received
instructions from the beneficial owner, those shares will not be considered
present and entitled to vote on that proposal. Thus, a "broker non-vote" has no
effect on the voting for an election of Trustees. On any matter submitted to a
vote of shareholders each whole share shall be entitled to one vote as to any
matter on which it is entitled to vote and each fractional share shall be
entitled to a proportionate fractional vote.
Other business
While the meeting has been called to transact any business that may
properly come before it, the only matters that the Trustees intend to present
are those matters stated in the attached notice of annual meeting of
shareholders. However, if any additional matters properly come before the
meeting, and on all matters incidental to the conduct of the meeting, it is the
intention of the persons named in the enclosed proxy to vote the proxy in
accordance with their judgment on such matters unless instructed to the
contrary.
34
Method of solicitation and expenses
The cost of preparing, assembling and mailing this proxy statement and the
attached notice of annual meeting of shareholders and the accompanying proxy
card for each fund will be borne by that fund. In addition to soliciting proxies
by mail, Pioneer may, at the fund's expense, have one or more of the fund's
officers, representatives or compensated third-party agents, including Pioneer,
PIMSS and PFD, aid in the solicitation of proxies by personal interview or
telephone and telegraph and may request brokerage houses and other custodians,
nominees and fiduciaries to forward proxy soliciting material to the beneficial
owners of the shares held of record by such persons.
Each fund may also arrange to have votes recorded by telephone, the
internet or other electronic means. The voting procedures used in connection
with such voting methods are designed to authenticate shareholders' identities,
to allow shareholders to authorize the voting of their shares in accordance with
their instructions and to confirm that their instructions have been properly
recorded. If these procedures were subject to a successful legal challenge, such
votes would not be counted at the shareholder meeting. Each fund is unaware of
any such challenge at this time. In the case of telephone voting, shareholders
would be called at the phone number the sub-transfer agent, American Stock
Transfer & Trust Company, has in its records for their accounts, and would be
asked for their Social Security number or other identifying information. The
shareholders would then be given an opportunity to authorize proxies to vote
their shares at the meeting in accordance with their instructions. In the case
of automated telephone and internet voting, shareholders would be required to
provide their Social Security number or other identifying information and would
receive a confirmation of their instructions.
Persons holding shares as nominees will be reimbursed by the fund, upon
request, for the reasonable expenses of mailing soliciting materials to the
principals of the accounts.
August 3, 2007
35
[LOGO]PIONEER
Investments(R)
PIONEER FLOATING RATE TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Floating
Rate Trust. I (we), the undersigned holder(s) of common shares of beneficial
interest, having received notice of the meeting and managements proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Floating Rate Trust to be held on September 11, 2007, at 11:00 a.m. (Eastern
time) at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to
Pioneer Floating Rate Trust, 60 State Street, 26(th) Floor, Boston,
Massachusetts 02109, and any adjourned session or sessions thereof, and to vote
and act upon the following matters (as more fully described in the accompanying
proxy statement) in respect of all common shares of beneficial interest of
Pioneer Floating Rate Trust which I (we) will be entitled to vote or act upon,
with all the powers I (we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
---------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
---------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT.
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE COMMON SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE VOTED
AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER FLOATING RATE TRUST
AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect two Class I trustees of Pioneer Floating Rate Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:
FOR WITHHOLD
01. David R. Bock | | | |
02. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE COMMON
TAG ID: 12345678 Cusip: 72369J102
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER HIGH INCOME TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer High
Income Trust. I (we), the undersigned holder(s) of common shares of beneficial
interest, having received notice of the meeting and managements proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer High
Income Trust to be held on September 11, 2007, at 11:00 a.m. (Eastern time) at
the offices of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to Pioneer
High Income Trust, 60 State Street, 26(th) Floor, Boston, Massachusetts 02109,
and any adjourned session or sessions thereof, and to vote and act upon the
following matters (as more fully described in the accompanying proxy statement)
in respect of all common shares of beneficial interest of Pioneer High Income
Trust which I (we) will be entitled to vote or act upon, with all the powers I
(we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
---------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
---------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT.
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE COMMON SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE VOTED
AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER HIGH INCOME TRUST
SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect two Class II trustees of Pioneer High Income Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:
FOR WITHHOLD
01. David R. Bock | | | |
02. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE COMMON
TAG ID: 12345678 Cusip: 72369H106
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Advantage Trust. I (we), the undersigned holder(s) of common shares
of beneficial interest, having received notice of the meeting and managements
proxy statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Advantage Trust to be held on September 11, 2007, at 11:00
a.m. (Eastern time) at the offices of Wilmer Cutler Pickering Hale and Dorr LLP,
counsel to Pioneer Municipal High Income Advantage Trust, 60 State Street,
26(th) Floor, Boston, Massachusetts 02109, and any adjourned session or sessions
thereof, and to vote and act upon the following matters (as more fully described
in the accompanying proxy statement) in respect of all common shares of
beneficial interest of Pioneer Municipal High Income Advantage Trust which I
(we) will be entitled to vote or act upon, with all the powers I (we) would
possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
---------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
---------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT.
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE COMMON SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE VOTED
AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME ADVANTAGE TRUST AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE
ENVELOPE PROVIDED. THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING
PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect two Class I trustees of Pioneer Municipal High Income Advantage
Trust, as named in the attached proxy statement, to serve on the Board of
Trustees until their successors have been duly elected and qualified. The
nominees for trustees are:
FOR WITHHOLD
01. David R. Bock | | | |
02. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE COMMON
TAG ID: 12345678 Cusip: 723762100
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Trust. I (we), the undersigned holder(s) of common shares of
beneficial interest, having received notice of the meeting and managements proxy
statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Trust to be held on September 11, 2007, at 11:00 a.m.
(Eastern time) at the offices of Wilmer Cutler Pickering Hale and Dorr LLP,
counsel to Pioneer Municipal High Income Trust, 60 State Street, 26(th) Floor,
Boston, Massachusetts 02109, and any adjourned session or sessions thereof, and
to vote and act upon the following matters (as more fully described in the
accompanying proxy statement) in respect of all common shares of beneficial
interest of Pioneer Municipal High Income Trust which I (we) will be entitled to
vote or act upon, with all the powers I (we) would possess if personally
present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
---------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
---------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT.
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE COMMON SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE VOTED
AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME TRUST AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE
PROVIDED. THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect two Class I trustees of Pioneer Municipal High Income Trust, as
named in the attached proxy statement, to serve on the Board of Trustees
until their successors have been duly elected and qualified. The nominees
for trustees are:
FOR WITHHOLD
01. David R. Bock | | | |
02. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE COMMON
TAG ID: 12345678 Cusip: 723763108
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER FLOATING RATE TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Floating
Rate Trust. I (we), the undersigned holder(s) of preferred shares of beneficial
interest, having received notice of the meeting and managements proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Floating Rate Trust to be held on September 11, 2007, at 11:00 a.m. (Eastern
time) at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to
Pioneer Floating Rate Trust, 60 State Street, 26(th) Floor, Boston,
Massachusetts 02109, and any adjourned session or sessions thereof, and to vote
and act upon the following matters (as more fully described in the accompanying
proxy statement) in respect of all preferred shares of beneficial interest of
Pioneer Floating Rate Trust which I (we) will be entitled to vote or act upon,
with all the powers I (we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
------------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE PREFERRED SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE
VOTED AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER FLOATING RATE TRUST
AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect three Class I trustees of Pioneer Floating Rate Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:
FOR WITHHOLD
1. David R. Bock | | | |
2. John F. Cogan, Jr. | | | |
3. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE PREFERRED
TAG ID: 12345678 CUSIP: 72369J201,300, 409
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER HIGH INCOME TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer High
Income Trust. I (we), the undersigned holder(s) of preferred shares of
beneficial interest, having received notice of the meeting and managements proxy
statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
High Income Trust to be held on September 11, 2007, at 11:00 a.m. (Eastern time)
at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to Pioneer
High Income Trust, 60 State Street, 26(th) Floor, Boston, Massachusetts 02109,
and any adjourned session or sessions thereof, and to vote and act upon the
following matters (as more fully described in the accompanying proxy statement)
in respect of all preferred shares of beneficial interest of Pioneer High Income
Trust which I (we) will be entitled to vote or act upon, with all the powers I
(we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
------------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE PREFERRED SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE
VOTED AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER HIGH INCOME TRUST
AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect three Class II trustees of Pioneer High Income Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:
FOR WITHHOLD
1. David R. Bock | | | |
2. John F. Cogan, Jr. | | | |
3. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE PREFERRED
TAG ID: 12345678 CUSIP: 72369H205, 304, 403
--------------------------------------------------------------------------------
[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Advantage Trust. I (we), the undersigned holder(s) of preferred
shares of beneficial interest, having received notice of the meeting and
managements proxy statement therefor, and revoking all prior proxies, hereby
appoint John F. Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and
each of them, my (our) attorneys (with full power of substitution in them and
each of them) for and in my (our) name(s) to attend the Annual Meeting of
Shareholders of Pioneer Municipal High Income Advantage Trust to be held on
September 11, 2007, at 11:00 a.m. (Eastern time) at the offices of Wilmer Cutler
Pickering Hale and Dorr LLP, counsel to Pioneer Municipal High Income Advantage
Trust, 60 State Street, 26(th) Floor, Boston, Massachusetts 02109, and any
adjourned session or sessions thereof, and to vote and act upon the following
matters (as more fully described in the accompanying proxy statement) in respect
of all preferred shares of beneficial interest of Pioneer Municipal High Income
Advantage Trust which I (we) will be entitled to vote or act upon, with all the
powers I (we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
------------------------------------------------------------
Signature of joint owner, if any Date
--------------------------------------------------------------------------------
FOLD HERE
YOUR VOTE IS VERY IMPORTANT
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE PREFERRED SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE
VOTED AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME ADVANTAGE TRUST AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE
ENVELOPE PROVIDED. THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING
PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect three Class I trustees of Pioneer Municipal High Income Advantage
Trust, as named in the attached proxy statement, to serve on the Board of
Trustees until their successors have been duly elected and qualified. The
nominees for trustees are:
FOR WITHHOLD
1. David R. Bock | | | |
2. John F. Cogan, Jr. | | | |
3. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
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SCANNER BAR CODE PREFERRED
TAG ID: 12345678 CUSIP: 723762209, 308
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[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME TRUST PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 11, 2007
This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Trust. I (we), the undersigned holder(s) of preferred shares of
beneficial interest, having received notice of the meeting and managements proxy
statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Trust to be held on September 11, 2007, at 11:00 a.m.
(Eastern time) at the offices of Wilmer Cutler Pickering Hale and Dorr LLP,
counsel to Pioneer Municipal High Income Trust, 60 State Street, 26(th) Floor,
Boston, Massachusetts 02109, and any adjourned session or sessions thereof, and
to vote and act upon the following matters (as more fully described in the
accompanying proxy statement) in respect of all preferred shares of beneficial
interest of Pioneer Municipal High Income Trust which I (we) will be entitled to
vote or act upon, with all the powers I (we) would possess if personally
present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.
Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as attorney, executor,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.
------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date
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Signature of joint owner, if any Date
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FOLD HERE
YOUR VOTE IS VERY IMPORTANT
PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY
THE PREFERRED SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE
VOTED AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.
THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME TRUST AND SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE
PROVIDED. THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK: |X|
1. To elect three Class I trustees of Pioneer Municipal High Income Trust, as
named in the attached proxy statement, to serve on the Board of Trustees
until their successors have been duly elected and qualified. The nominees
for trustees are:
FOR WITHHOLD
1. David R. Bock | | | |
2. John F. Cogan, Jr. | | | |
3. Stephen K. West | | | |
YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.
--------------------------------------------------------------------------------
SCANNER BAR CODE PREFERRED
TAG ID: 12345678 CUSIP: 723693207, 306
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