PIONEER FLOATING RATE TRUST
                                 60 STATE STREET
                                BOSTON, MA 02109

                                 (617) 742-7825


March 21, 2005

VIA ELECTRONIC SUBMISSION

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Re:   Pioneer Floating Rate Trust
      Request for acceleration of effective date of
      Registration Statement on Form N-2
      (File Nos. 333-121930 and 811-21654)

Ladies and Gentlemen:

      Pursuant to Rule 461 of Regulation C under the Securities Act of 1933,
Pioneer Floating Rate Trust (the "Registrant") hereby requests that the
effective date of pre-effective amendment no. 2 to the above-captioned
registration statement on Form N-2 (the "Registration Statement"), which
Registration Statement was filed March 21, 2005, be accelerated to 10:00 a.m.
EST on March 23, 2004 or as soon thereafter as possible.



                              PIONEER FLOATING RATE TRUST


                              By:     /s/ Christopher J. Kelley
                                      --------------------------------
                              Name:   Christopher J. Kelley
                              Title:  Assistant Secretary