Pioneer High Income Closed Fund
Pioneer High Income Fund, Inc. is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc. It invests in fixed income markets of the United States. The fund primarily invests in below-investment-grade bonds, high-yield corporate bonds, and convertible securities. It seeks to invest in bonds that are rated BBB- or lower by Standard and Poor's or a similar… Read more
Pioneer High Income Closed Fund (PHT) - Net Assets
Latest net assets as of March 2025: $240.22 Million USD
Based on the latest financial reports, Pioneer High Income Closed Fund (PHT) has net assets worth $240.22 Million USD as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($356.74 Million) and total liabilities ($116.53 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $240.22 Million |
| % of Total Assets | 67.34% |
| Annual Growth Rate | -4.97% |
| 5-Year Change | -14.17% |
| 10-Year Change | -11.65% |
| Growth Volatility | 23.92 |
Pioneer High Income Closed Fund - Net Assets Trend (2007–2025)
This chart illustrates how Pioneer High Income Closed Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Pioneer High Income Closed Fund (2007–2025)
The table below shows the annual net assets of Pioneer High Income Closed Fund from 2007 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $240.22 Million | +0.15% |
| 2024-03-31 | $239.85 Million | +7.60% |
| 2023-03-31 | $222.90 Million | -14.89% |
| 2022-03-31 | $261.91 Million | -6.42% |
| 2021-03-31 | $279.87 Million | +32.10% |
| 2020-03-31 | $211.86 Million | -26.83% |
| 2019-03-31 | $289.56 Million | -5.81% |
| 2018-03-31 | $307.41 Million | -1.71% |
| 2017-03-31 | $312.76 Million | +15.03% |
| 2016-03-31 | $271.90 Million | -21.04% |
| 2015-03-31 | $344.35 Million | -15.37% |
| 2014-03-31 | $406.88 Million | -26.77% |
| 2013-03-31 | $555.62 Million | +61.02% |
| 2009-03-31 | $345.07 Million | -33.17% |
| 2008-03-31 | $516.31 Million | -14.17% |
| 2007-03-31 | $601.57 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Pioneer High Income Closed Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 302.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $372.92 Million | 155.24% |
| Total Equity | $240.22 Million | 100.00% |
Pioneer High Income Closed Fund Competitors by Market Cap
The table below lists competitors of Pioneer High Income Closed Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
EVOLUTION MIN
MU:WE7
|
$83.98K |
|
PITNEY BOWES - Dusseldorf Stock Exchang
DU:PBW
|
$84.01K |
|
ECOTEL COMMUNCAT - Dusseldorf Stock Exchang
DU:E4C
|
$84.05K |
|
Penta-Ocean Construction Co. Ltd
BE:PO6
|
$84.07K |
|
IQ-AI LTD. LS -01
F:5Y1
|
$83.93K |
|
VHABW
PINK:VHABW
|
$83.88K |
|
Tetra Bio-Pharma Inc.
PINK:TBPMQ
|
$83.75K |
|
Cemex SAB de CV
STU:CEXA
|
$83.74K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pioneer High Income Closed Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 239,850,171 to 240,217,214, a change of 367,043 (0.2%).
- Net income of 19,732,522 contributed positively to equity growth.
- Dividend payments of 19,365,479 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $19.73 Million | +8.21% |
| Dividends Paid | $19.37 Million | -8.06% |
| Total Change | $- | 0.15% |
Book Value vs Market Value Analysis
This analysis compares Pioneer High Income Closed Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.03x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.43x to 1.03x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-03-31 | $19.54 | $8.47 | x |
| 2014-03-31 | $14.19 | $8.47 | x |
| 2015-03-31 | $11.89 | $8.47 | x |
| 2016-03-31 | $9.34 | $8.47 | x |
| 2017-03-31 | $10.70 | $8.47 | x |
| 2018-03-31 | $10.57 | $8.47 | x |
| 2019-03-31 | $10.23 | $8.47 | x |
| 2020-03-31 | $7.25 | $8.47 | x |
| 2021-03-31 | $9.57 | $8.47 | x |
| 2022-03-31 | $8.93 | $8.47 | x |
| 2023-03-31 | $7.60 | $8.47 | x |
| 2024-03-31 | $8.17 | $8.47 | x |
| 2025-03-31 | $8.19 | $8.47 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pioneer High Income Closed Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.21%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 74.12%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.49x
- Recent ROE (8.21%) is above the historical average (1.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 11.27% | 93.85% | 0.11x | 1.06x | $7.63 Million |
| 2008 | -4.33% | -39.96% | 0.11x | 1.03x | $-74.00 Million |
| 2009 | -36.19% | -233.52% | 0.14x | 1.11x | $-159.37 Million |
| 2013 | 12.23% | 125.20% | 0.10x | 1.02x | $12.37 Million |
| 2014 | 11.16% | 96.51% | 0.08x | 1.40x | $4.72 Million |
| 2015 | -6.00% | -46.82% | 0.09x | 1.46x | $-55.09 Million |
| 2016 | -12.97% | -88.63% | 0.10x | 1.47x | $-62.46 Million |
| 2017 | 21.74% | 411.90% | 0.04x | 1.42x | $36.71 Million |
| 2018 | 5.68% | 95.68% | 0.04x | 1.41x | $-13.29 Million |
| 2019 | 1.76% | 92.75% | 0.01x | 1.45x | $-23.86 Million |
| 2020 | -25.50% | 0.00% | -0.17x | 1.48x | $-75.20 Million |
| 2021 | 33.02% | 99.40% | 0.22x | 1.48x | $64.43 Million |
| 2022 | 2.02% | 86.89% | 0.02x | 1.45x | $-20.90 Million |
| 2023 | -7.96% | 0.00% | -0.05x | 1.49x | $-40.03 Million |
| 2024 | 15.17% | 121.42% | 0.08x | 1.47x | $12.40 Million |
| 2025 | 8.21% | 74.12% | 0.07x | 1.49x | $-4.29 Million |
Industry Comparison
This section compares Pioneer High Income Closed Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $310,488,743
- Average return on equity (ROE) among peers: -23.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pioneer High Income Closed Fund (PHT) | $240.22 Million | 11.27% | 0.49x | $83.97K |
| Aberdeen International Inc (AABVF) | $136.31 Million | 25.56% | 0.23x | $2.78 Million |
| Acadian Asset Management Inc (AAMI) | $-17.60 Million | 0.00% | 0.00x | $1.39 Billion |
| AllianceBernstein Holding L.P. (AB) | $402.30 Million | 32.07% | 0.95x | $3.43 Billion |
| VIVO Cannabis Inc (ABCCF) | $164.13 Million | 16.36% | 0.09x | $148.26 Million |
| Associated Capital Group Inc (AC) | $502.13 Million | 5.33% | 0.17x | $42.54 Million |
| Adrian Resources Ltd (ADLRF) | $605.01 Million | 3.35% | 0.58x | $609.82 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $85.10 Million | -65.65% | 0.01x | $77.20K |
| AGF Management Limited (AGFMF) | $1.12 Billion | 10.14% | 3.56x | $298.43 Million |
| Agronomics Limited (AGNMF) | $100.03 Million | 1.02% | 0.02x | $57.14 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $2.71 Million |