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Pioneer Funds
Notes to the Financial Statements as at 31 December 2012 (continued)
14. Class Action (continued)
Costs paid upfront for the services related to the portfolio analysis, the collection of the custody data and the assistance in the other activities
related to class actions are booked in the financial statements under “Other charges”.
The amounts received when the class action are settled, are booked in the financial statements under “Other Income”.
In 2012, the Fund has received a total of USD 826,234.
15. Important Events
Launch of new Sub-Funds
The following Sub-Funds have been launched during the year:
Sub-Fund
Launch date
Pioneer Funds - Absolute Return Commodity 11/01/2012
Pioneer Funds - German Equity 16/05/2012
Pioneer Funds - Europe Recovery Income 2017 29/05/2012
Pioneer Funds - Emerging Markets Corporate High Yield Bond 11/07/2012
Pioneer Funds - Emerging Markets Equity Unconstrained 18/07/2012
Pioneer Funds - Emerging Markets Corporate Bond 11/12/2012
Liquidation of Sub-Funds
The following Sub-Fund has been liquidated during the year:
Sub-Fund
Liquidation date
Pioneer Funds - U.S. Small Companies 17/12/2012
Name changes
The denomination of the following Sub-Funds was changed as follows:
Former Sub-Fund Name New Sub-Fund Name Effective Date
Pioneer Funds - Diversified Equity Strategy Pioneer Funds - Absolute Return Commodity 02/01/2012
Pioneer Funds - Diversified Fixed Income Strategy Pioneer Funds - Europe Recovery Income 2017 07/03/2012
Pioneer Funds - Global Balanced Pioneer Funds - Global Multi-Asset 06/12/2012
Pioneer Funds - Global Diversified Equity Pioneer Funds - Global Equity Target Income 06/12/2012
Pioneer Funds - Europe Recovery Income 2017 has changed its name on 07/03/2012 while it has been launched on 29/05/2012 and Pioneer
Funds - Absolute Return Commodity has changed its name on 02/01/2012 while it has been launched on 11/01/2012.
Changes in Investment Management
Pioneer Investment Management, Inc., Boston, the Investment Manager of the Pioneer Funds – North American Basic Value, has decided, in
agreement with the Management Company, to terminate on 30 June 2012, the sub-investment management agreement entered into with Cullen
Capital Management, LLC.
Pioneer Investment Management Limited, Dublin, has decided to appoint, in agreement with the Management Company, Pioneer Investment
Management SGRpA as Sub-Investment Manager of the Pioneer Funds – Global Multi-Asset with effect as from 6 December 2012.
Fee Reduction
The investment policy of the Pioneer Funds - Euro Credit Recovery 2012 has matured on 11 May 2012, so the Sub-Fund has switched to its
post-maturity investment policy. Thus the fee structure was amended as follows with effective date 01 November 2012:
Class Fee Structure before 01/11/2012 Fee Structure as from 01/11/2012
A 0.80% + 0.20% (distribution fee) 0.30% + 0.00% (distribution fee)
B 1.00% 0.30%
E 1.00% 0.30%
F 1.25% 0.55%
Pioneer Funds - Annual Report 497