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Pioneer Funds - Global High Yield<br />

Schedule of Investm<strong>en</strong>ts <strong>as</strong> at 31 December 2012 (expressed in EUR)<br />

Holding Curr<strong>en</strong>cy<br />

Description of Securities<br />

Transferable Securities and Money Market Instrum<strong>en</strong>ts Admitted to an Official Exchange<br />

Listing or Dealt in on Other Regulated Markets<br />

Market Value<br />

Net Assets %<br />

Bonds<br />

2,180,000<br />

4,650,000<br />

1,750,000<br />

2,900,000<br />

5,420,000<br />

1,600,000<br />

250,000<br />

12,720,000<br />

2,570,000<br />

10,708,000<br />

3,600,000<br />

20,700,000<br />

850,000<br />

3,840,000<br />

3,285,000<br />

10,100,000<br />

1,679,000<br />

4,935,000<br />

8,020,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

EUR<br />

EUR<br />

USD<br />

USD<br />

EUR<br />

USD<br />

USD<br />

EUR<br />

USD<br />

USD<br />

USD<br />

EUR<br />

USD<br />

B<strong>as</strong>ic Materials<br />

Chemicals<br />

B<strong>as</strong>ell Finance Co BV 8.1% 15/Mar/2027<br />

Br<strong>as</strong>kem Finance Ltd - 144A - 7.375% Perpetual<br />

EuroChem Mineral & Chemical Co OJSC via EuroChem GI Ltd 5.125% 12/Dec/2017<br />

Hexion US Finance Corp / Hexion Nova Scotia Finance ULC 8.875% 01/Feb/2018<br />

Hexion US Finance Corp 6.625% 15/Apr/2020<br />

Ineos Finance PLC - 144A - 7.5% 01/May/2020<br />

INEOS Group Holdings SA - Reg.S - 7.875% 15/Feb/2016<br />

Ineos Group Holdings SA 7.875% 15/Feb/2016<br />

Ineos Group Holdings SA 8.5% 15/Feb/2016<br />

Kinove German Bondco GmbH 9.625% 15/Jun/2018<br />

Kloeckner P<strong>en</strong>tapl<strong>as</strong>t GmbH & Co KG 11.625% 15/Jul/2017<br />

LyondellB<strong>as</strong>ell Industries NV 5% 15/Apr/2019<br />

Mexichem SAB de CV 4.875% 19/Sep/2022<br />

Mom<strong>en</strong>tive Performance Materials Inc 9.5% 15/Jan/2021<br />

NOVA Chemicals Corp 7.875% 15/Sep/2025<br />

Rain CII Carbon LLC / CII Carbon Corp 8% 01/Dec/2018<br />

Rhodia SA 6.875% 15/Sep/2020<br />

Styrolution Group GmbH 7.625% 15/May/2016<br />

Tronox Finance LLC 6.375% 15/Aug/2020<br />

2,207,448<br />

3,668,083<br />

1,359,197<br />

2,260,126<br />

4,182,987<br />

1,271,238<br />

248,220<br />

12,628,925<br />

1,939,586<br />

8,873,248<br />

3,996,000<br />

17,349,438<br />

694,687<br />

2,764,800<br />

2,525,917<br />

7,794,865<br />

1,435,410<br />

5,132,400<br />

6,143,962<br />

0.09%<br />

0.14%<br />

0.05%<br />

0.09%<br />

0.16%<br />

0.05%<br />

0.01%<br />

0.49%<br />

0.07%<br />

0.34%<br />

0.15%<br />

0.66%<br />

0.03%<br />

0.11%<br />

0.10%<br />

0.30%<br />

0.06%<br />

0.20%<br />

0.24%<br />

8,980,000<br />

4,452,433<br />

14,555,000<br />

7,926,000<br />

4,705,000<br />

117,000<br />

1,400,000<br />

4,450,000<br />

5,049,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

EUR<br />

USD<br />

USD<br />

Forestry and Paper<br />

Appleton Papers Inc 10.5% 15/Jun/2015<br />

Bio Pappel SAB de CV - Regs - Floating 27/Aug/2016<br />

Exopack Holding Corp 10% 01/Jun/2018<br />

Grupo Papelero Scribe SA de CV - 144A - 8.875% 07/Apr/2020<br />

Millar Western Forest Products Ltd 8.5% 01/Apr/2021<br />

Resolute Forest Products 10.25% 15/Oct/2018<br />

Sappi Papier Holding GmbH - 144A - 6.625% 15/Apr/2018<br />

Sappi Papier Holding GmbH - 144A - 6.625% 15/Apr/2021<br />

Xerium Technologies Inc 8.875% 15/Jun/2018<br />

7,219,964<br />

3,140,748<br />

9,991,107<br />

5,591,004<br />

3,229,691<br />

101,612<br />

1,505,000<br />

3,333,112<br />

3,465,826<br />

0.28%<br />

0.12%<br />

0.39%<br />

0.22%<br />

0.12%<br />

0.00%<br />

0.06%<br />

0.13%<br />

0.13%<br />

2,420,000<br />

4,085,000<br />

5,000,000<br />

5,350,000<br />

7,624,000<br />

12,100,000<br />

5,820,000<br />

6,000,000<br />

2,960,000<br />

5,725,000<br />

9,150,000<br />

1,369,000<br />

1,570,000<br />

7,760,000<br />

245,000<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

USD<br />

EUR<br />

Industrial Metals and Mining<br />

Algoma Acquisition Corp - Regs - 9.875% 15/Jun/2015<br />

APERAM 7.375% 01/Apr/2016<br />

Citic Pacific Ltd 6.875% 21/Jan/2018<br />

Essar Steel Algoma Inc - 144A - 9.875% 15/Jun/2015<br />

Essar Steel Algoma Inc 9.375% 15/Mar/2015<br />

Ferrexpo Finance PLC 7.875% 07/Apr/2016<br />

JMC Steel Group 8.25% 15/Mar/2018<br />

Kaiser Aluminum Corp 8.25% 01/Jun/2020<br />

Metinvest BV - Regs - 10.25% 20/May/2015<br />

Metinvest BV - 144A - 10.25% 20/May/2015<br />

Metinvest BV - 144A - 8.75% 14/Feb/2018<br />

Mueller Water Products Inc 7.375% 01/Jun/2017<br />

T<strong>as</strong>eko Mines Ltd 7.75% 15/Apr/2019<br />

United States Steel Corp 7.5% 15/Mar/2022<br />

Zlomrex International Finance SA - 144A - 8.5% 01/Feb/2014<br />

1,257,357<br />

2,889,307<br />

4,007,005<br />

2,779,695<br />

5,233,404<br />

8,902,458<br />

4,613,092<br />

4,960,558<br />

2,312,500<br />

4,472,656<br />

6,749,374<br />

1,072,127<br />

1,146,181<br />

6,224,363<br />

180,688<br />

0.05%<br />

0.11%<br />

0.15%<br />

0.11%<br />

0.20%<br />

0.34%<br />

0.18%<br />

0.19%<br />

0.09%<br />

0.17%<br />

0.26%<br />

0.04%<br />

0.04%<br />

0.24%<br />

0.01%<br />

12,830,000<br />

USD<br />

Mining<br />

Alpha Appalachia Holdings Inc 3.25% CV 01/Aug/2015<br />

9,348,315<br />

0.36%<br />

The accompanying notes form an integral part of these financial statem<strong>en</strong>ts.<br />

Any differ<strong>en</strong>ces in the perc<strong>en</strong>tage of net <strong>as</strong>sets are the results of roundings.<br />

312 Pioneer Funds - Annual Report

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