December 2, 2019


                            PIONEER ILS BRIDGE FUND


                SUPPLEMENT TO THE PROSPECTUS DATED MARCH 1, 2019


MANAGEMENT
Effective December 2, 2019, the following replaces the corresponding
information under the heading "Portfolio Managers" in the section entitled
"Management of the fund":

Day-to-day management of the fund's portfolio is the responsibility of Chin Liu
and Campbell Brown. The portfolio managers are supported by the Adviser's fixed
income team. Members of this team manage other Pioneer funds investing
primarily in fixed income securities. The portfolio manager and the team also
may draw upon the research and investment management expertise of the global
research teams, which provide fundamental and quantitative research and include
members from one or more of Amundi Pioneer's affiliates. Mr. Liu is a Managing
Director and Director of Insurance-Linked Securities and Quantitative Research
of Amundi Pioneer. He joined Amundi Pioneer in 2007 and has been an investment
professional since 2005. Mr. Liu has served as a portfolio manager of the fund
since 2018. Mr. Brown is a Vice President of Amundi Pioneer. He joined Amundi
Pioneer in October 2018. Prior to joining Amundi Pioneer, Mr. Brown worked
as a Property Treaty Underwriter for Odyssey Reinsurance Company. Mr. Brown has
served as a portfolio manager of the fund since 2019.












                                                                   31299-00-1219
                                (Copyright)2019 Amundi Pioneer Distributor, Inc.
                                             Underwriter of Pioneer mutual funds
                                                                     Member SIPC