Exhibit (p)

                        INITIAL SHARE PURCHASE AGREEMENT

     This Agreement is made as of the 12th day of April, 2007 between Pioneer
Investment Management, Inc. ("PIM"), a Delaware corporation, and Pioneer
Diversified High Income Trust, a Delaware statutory trust (the "Trust").

     WHEREAS, the Trust wishes to sell to PIM, and PIM wishes to purchase from
the Trust, $100,000 of common shares of beneficial interest of the Trust (4,197
shares at a purchase price of $23.83 per share (collectively, the "Shares"));
and

     WHEREAS, PIM is purchasing the Shares for the purpose of providing the
initial capitalization of the Trust as required by the Investment Company Act of
1940, as amended;

     NOW, THEREFORE, the parties hereto agree as follows:

     1. Simultaneously with the execution of this Agreement, PIM is delivering
to the Trust a check in the amount of $100,000 in full payment for the Shares.

     2. PIM agrees that it is purchasing the Shares for investment and has no
present intention of redeeming or reselling the Shares.



     Executed as of the date first set forth above.

                                        PIONEER INVESTMENT MANAGEMENT, INC.


                                        /s/ Dorothy E. Bourassa
                                        ----------------------------------------
                                        Name: Dorothy E. Bourassa
                                        Title: Senior Vice President - Legal


                                        PIONEER DIVERSIFIED HIGH INCOME TRUST


                                        /s/ Dorothy E. Bourassa
                                        ----------------------------------------
                                        Name: Dorothy E. Bourassa
                                        Title: Secretary