October 16, 2007
 
 
VIA EDGAR

Securities and Exchange Commission
Office of Registration and Reports
100 F Street, N.E.
Washington, D.C. 20549

Re:
Pioneer Family of Mutual Funds
(Each Registrant listed on Attachment A hereto)
 
Members of the Commission:

In accordance with Rule 17g-1(g) of the Investment Company Act of 1940, each of the registrants listed on Attachment A hereby files the following documents with the Commission:

 
1.
Bond No. 87002107B (the “Bond”) issued by the ICI Mutual Insurance Company of Burlington, Vermont in the amount of $45,000,000 (EXHIBIT 99-1);

2.
A certified copy of resolutions adopted by a majority of the Boards of Trustees who are not “interested persons” of each of the registrants, at meetings held on July 10, 2007 and September 18, 2007, respectively, approving the amount, type, form and coverage of the Bond and the portion of the premium to be paid by each Registrant (EXHIBIT 99-2);

 
3.
A statement showing the amount of the single insured bond which each registrant would have provided and maintained had it not been named as an insured under a joint insured bond based on its gross assets as of April 30, 2007 (EXHIBIT 99-3); and

 
4.
A copy of the Fidelity Bond Premium and Coverage Allocation Agreement, effective as of August 1, 2007, by and among the joint insureds under the Bond (EXHIBIT 99-4) .
 
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Securities and Exchange Commission
Page Two
October 16, 2007
 
The Bond provides total fidelity coverage of $45,000,000 for 41 registrants associated with Pioneer Investment Management USA Inc.

The premium associated with coverage under the Bond has been paid for the period from July 31, 2007 to July 31, 2008.

Please contact me at 617/517-8996 should you have any questions or require additional information.
 
      Very truly yours,
       
       
    /s/ Carol B. Hannigan
       
   
Carol B. Hannigan
Fund Governance Director

Enclosures

CC:
Dorothy E. Bourassa
Terrence J. Cullen
Roger Joseph, Esq.

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 Attachment A

 
Registrant
Investment Company Act
Registration Number  
1
Pioneer Bond Fund
811-02864
2
Pioneer Diversified High Income Trust
811-22014
3
Pioneer Emerging Markets Fund
811-08448
4
Pioneer Equity Income Fund
811-08657
5
Pioneer Equity Opportunity Fund
811-21623
6
Pioneer Europe Select Equity Fund
811-06151
7
Pioneer Floating Rate Trust
811-21654
8
Pioneer Fund
811-01466
9
Pioneer Fundamental Growth Fund
811-21108
10
Pioneer Global High Yield Fund
811-10395
11
Pioneer Growth Shares
811-01604
12
Pioneer High Income Trust
811-21043
13
Pioneer High Yield Fund
811-09685
14
Pioneer Ibbotson Asset Allocation Series, a series trust consisting of:
Pioneer Ibbotson Aggressive Allocation Fund
Pioneer Ibbotson Conservative Allocation Fund
Pioneer Ibbotson Growth Allocation Fund
Pioneer Ibbotson Moderate Allocation Fund
811-21569
15
Pioneer Independence Fund
811-08547
16
Pioneer Interest Shares
811-02239
17
Pioneer International Equity Fund
811-07733
18
Pioneer International Value Fund
811-07318
19
Pioneer Mid Cap Growth Fund
811-03564
20
Pioneer Mid Cap Value Fund
811-06106
21
Pioneer Money Market Trust, a series fund consisting of:
Pioneer Cash Reserves Fund
811-05099
22
Pioneer Municipal High Income Trust
811-21321
23
Pioneer Municipal High Income Advantage Trust
811-21409
24
Pioneer Protected Principal Trust, as series trust consisting of:
Pioneer Protected Principal Plus Fund
Pioneer Protected Principal Plus Fund II
811-21163
25
Pioneer Real Estate Shares
811-07870
26
Pioneer Research Fund
811-09585
27
Pioneer Select Equity Fund
811-21452
28
Pioneer Select Value Fund
811-21530
29
Pioneer Series Trust I, a series trust consisting of:
Pioneer Oak Ridge Large Cap Growth Fund
Pioneer Oak Ridge Small Cap Growth Fund
811-21425
 
 
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30
Pioneer Series Trust II, a series trust consisting of:
Pioneer Am Pac Growth Fund
Pioneer AMT -Free CA Municipal Bond Fund
Pioneer AMT -Free Municipal Fund
Pioneer Growth Leaders Fund
Pioneer Growth Opportunities Fund
Pioneer Small and Mid Cap Growth Fund
Pioneer Tax Free Money Market Fund
811-21460
31
Pioneer Series Trust III, a series trust consisting of:
811-21664
 
Pioneer Cullen Value Fund
  
32
Pioneer Series Trust IV, a series trust consisting of:
Pioneer Classic Balanced Fund
Pioneer Government Income Fund
Pioneer Institutional Money Market Fund
Pioneer International Core Equity Fund
Pioneer Treasury Reserves Fund
811-21781
33
Pioneer Series Trust V, a series trust consisting of:
Pioneer Global Select Equity Fund
Pioneer High Income Municipal Fund
Pioneer Oak Ridge All Cap Growth Fund
Pioneer Select Research Growth Fund
Pioneer Select Research Value Fund
811-21823
34
Pioneer Series Trust VI, a series trust consisting of:
Pioneer Floating Rate Fund
811-21978
35
Pioneer Short Term Income Fund
811-21558
36
Pioneer Small Cap Value Fund
811-07985
37
Pioneer Strategic Income Fund
811-09223
38
Pioneer Tax Advantaged Balanced Trust
811-21448
39
Pioneer Tax Free Income Fund
811-02704
40
Pioneer Value Fund
811-01835
41
Pioneer Variable Contracts Trust, a series trust consisting of:
811-08786
 
Pioneer America Income VCT Portfolio
  
 
Pioneer Bond VCT Portfolio
  
 
Pioneer Core Bond VCT Portfolio
  
 
Pioneer Cullen Value VCT Portfolio
  
 
Pioneer Emerging Markets VCT Portfolio
  
 
Pioneer Equity Income VCT Portfolio
  
 
Pioneer Equity Opportunity VCT Portfolio
  
 
Pioneer Fund VCT Portfolio
  
 
Pioneer Global High Yield VCT Portfolio
  
 
Pioneer Growth Opportunities VCT Portfolio
  
 
Pioneer Growth Shares VCT Portfolio
  
 
Pioneer High Yield VCT Portfolio
  
 
Pioneer Ibbotson Aggressive Allocation VCT Portfolio
  
 
Pioneer Ibbotson Growth Allocation VCT Portfolio
  
 
Pioneer Ibbotson Moderate Allocation VCT Portfolio
  
 
Pioneer International Value VCT Portfolio
  
 
Pioneer Mid Cap Value VCT Portfolio
  
 
Pioneer Money Market VCT Portfolio
  
 
 
4
 
Pioneer Oak Ridge Large Cap Growth VCT Portfolio
  
 
Pioneer Real Estate Shares VCT Portfolio
  
 
Pioneer Small and Mid Cap Growth VCT Portfolio
  
 
Pioneer Small Cap Value VCT Portfolio
  
 
Pioneer Strategic Income VCT Portfolio
  
 
Pioneer Value VCT Portfolio
  

 
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