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Pioneer Funds
Notes to the Financial Statements as at 31 December 2012 (continued)
1. Description of the Fund (continued)
Pioneer Funds - Latin American Equity
Class A Non - Distributing; Class B Non - Distributing; Class C Non - Distributing; Class E Non - Distributing; Class F Non - Distributing;
Class H Non - Distributing; Class I Non - Distributing
Pioneer Funds - China Equity
Class A Non - Distributing; Class B Non - Distributing; Class C Non - Distributing; Class E Non - Distributing; Class F Non - Distributing;
Class H Non - Distributing; Class I Non - Distributing
Pioneer Funds - Indian Equity
Class A Non - Distributing; Class C Non - Distributing; Class E Non - Distributing; Class F Non - Distributing; Class H Non - Distributing;
Class I Non - Distributing
Pioneer Funds - Russian Equity
Class A Non - Distributing; Class C Non - Distributing; Class E Non - Distributing; Class F Non - Distributing; Class H Non - Distributing;
Class I Non - Distributing
Commodities Sub-Fund
Pioneer Funds - Commodity Alpha
Class A Non - Distributing; Class A Hedge Non - Distributing; Class B Non - Distributing; Class C Non - Distributing; Class E Non -
Distributing; Class E Hedge Non - Distributing; Class F Non - Distributing; Class H Non - Distributing; Class I Non - Distributing; Class I
Hedge Distributing Annually; Class I Hedge Non Distributing
2. Significant Accounting Policies
Presentation of financial statements
These financial statements are prepared in accordance with Luxembourg legal and regulatory requirements relating to undertakings for
collective investment in transferable securities.
The financial statements reflect the Net Asset Values as calculated on 31 December 2012 based on market prices of the investments as at
31 December 2012. Where Stock Exchanges were closed on Monday 31 December 2012, the last available prices were used.
Valuation of investments and other investments
The following accounting policies apply:
Valuation of investments
Investments which are quoted or dealt in on a stock exchange or on a Regulated Market or any Other Regulated Market are valued at the last
available price at 6.00 p.m. Luxembourg Time of the relevant Valuation Day except for the Sub-Funds listed below:
1. Pioneer Funds - Euro Strategic Bond,
2. Pioneer Funds - Euro High Yield,
3. Pioneer Funds - Strategic Income,
4. Pioneer Funds - U.S. High Yield,
5. Pioneer Funds - Global High Yield,
6. Pioneer Funds - Emerging Markets Bond Local Currencies,
7. Pioneer Funds - Emerging Markets Bond,
8. Pioneer Funds - Global Multi-Asset,
9. Pioneer Funds - U.S. Pioneer Fund,
10. Pioneer Funds - U.S. Research,
11. Pioneer Funds - U.S. Fundamental Growth,
12. Pioneer Funds - U.S. Research Value,
13. Pioneer Funds - North American Basic Value,
14. Pioneer Funds - U.S. Mid Cap Value,
15. Pioneer Funds - U.S. Small Companies (liquidated on 17 December 2012),
16. Pioneer Funds - Global Equity Target Income,
17. Pioneer Funds - Global Select,
18. Pioneer Funds - Global Ecology,
19. Pioneer Funds - Gold and Mining,
20. Pioneer Funds - Emerging Markets Equity,
21. Pioneer Funds - Latin American Equity,
22. Pioneer Funds - Emerging Markets Corporate High Yield Bond,
23. Pioneer Funds - Emerging Markets Corporate Bond.
For these Sub-Funds, the underlying assets are valued at the last available prices at 10.00 p.m. Luxembourg time.
486 Pioneer Funds - Annual Report