Pioneer Alternative Investment Management, the alternative investment arm of Pioneer Global Asset Management, has registered a new hedge fund-of-funds with the Security and Exchange Commission.

The Pioneer AllWeather Fund is expected to invest significantly in "event-driven strategies, hedged equity and trading strategies and long/short strategies," according to the registration statement. The primary event-driven strategies the fund will invest in are distressed securities, asset-backed lending and merger arbitrage.

Pioneer Alternative Investments offers the Momentum AllWeather Fund as part of the AllWeather series through the Dublin Stock Exchange. AllWeather is a hedge fund that shares similar investment goals. That fund has a year-to-date return of 5.49% and an annualized return of 9.36%. Last year, the company acquired the Momentum Group, an alternative manager that specializes in hedge funds-of-funds.

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