Statem<strong>en</strong>t of Operations and Changes in Net Assets for the year <strong>en</strong>ded 31 December 2012 (continued) Income Divid<strong>en</strong>ds, net Interest on securities Interest on bank accounts Interest on swaps Income from securities l<strong>en</strong>ding Other income Total Income Pioneer Funds - Emerging Markets Corporate Bond 2016 EUR - 7,137,813 305 278,819 - 182,990 7,599,927 Pioneer Funds - Europe Recovery Income 2017 (1) EUR - 1,587,017 80 389,250 - 31,797 2,008,144 Pioneer Funds - Euro Strategic Bond EUR 38,081 44,062,724 92,515 12,759,464 - 17,342 56,970,126 Exp<strong>en</strong>ses Managem<strong>en</strong>t fees Distribution fees Depositary & administration fees Taxe d’abonnem<strong>en</strong>t Professional fees Printing & publishing fees Performance fees Interest on swaps Other charges Total Exp<strong>en</strong>ses Net Operational Income/(Loss) (1,087,224) - (182,721) (50,318) (5,704) (4,072) (487,369) - (33,445) (1,850,853) 5,749,074 (221,229) - (52,158) (23,442) (3,322) (2,976) (688,868) (100,583) (24,038) (1,116,616) 891,528 (6,420,750) (310,768) (876,116) (182,862) (25,349) (23,090) (9,381) (10,349,845) (426,657) (18,624,818) 38,345,308 Statem<strong>en</strong>t of Changes In Net Assets Net <strong>as</strong>set value at the beginning of the year Net Operational Income/(Loss) 101,111,972 5,749,074 - 891,528 523,958,007 38,345,308 Net realised gain/(loss) on sales of securities Net realised gain/(loss) on foreign exchange Net realised gain/(loss) on forward foreign exchange contracts Net realised gain/(loss) on financial futures contracts Net realised gain/(loss) on options Net realised gain/(loss) on Contracts For Differ<strong>en</strong>ces Net realised gain/(loss) on swaps Net Realised Gain/(Loss) 3,330,328 (27,935) (2,687,137) - - - - 615,256 428,954 - - - - - 922,950 1,351,904 (15,082,427) 551,315 (4,491,132) (1,624,732) 804,166 - (195,930) (20,038,740) Net change in unrealised gain/(loss) on securities Net change in unrealised gain/(loss) on forward foreign exchange contracts Net change in unrealised gain/(loss) on financial futures contracts Net change in unrealised gain/(loss) on options Net change in unrealised gain/(loss) on Contracts For Differ<strong>en</strong>ces Net change in unrealised gain/(loss) on swaps Net Change in Unrealised Gain/(Loss) for the Year Net Incre<strong>as</strong>e/(Decre<strong>as</strong>e) in Net Assets <strong>as</strong> a Result of Operations 2,584,811 4,015,598 - - - 675,999 7,276,408 13,640,738 4,393,431 - - - - 181,089 4,574,520 6,817,952 64,627,678 5,810,942 882,999 (84,314) - (19,800,725) 51,436,580 69,743,148 Net subscriptions/(redemptions) Divid<strong>en</strong>d declared Net Asset Value at Year End (10,957,870) (4,406,681) 99,388,159 54,926,148 (1,167,549) 60,576,551 40,995,149 (1,729,976) 632,966,328 Footnotes available at the <strong>en</strong>d of this section. The accompanying notes form an integral part of these financial statem<strong>en</strong>ts. 48 Pioneer Funds - Annual Report
Statem<strong>en</strong>t of Operations and Changes in Net Assets for the year <strong>en</strong>ded 31 December 2012 (continued) Income Divid<strong>en</strong>ds, net Interest on securities Interest on bank accounts Interest on swaps Income from securities l<strong>en</strong>ding Other income Total Income Pioneer Funds - Strategic Income EUR 2,803,325 127,825,360 159,280 1,328,984 - 1,003 132,117,952 Pioneer Funds - U.S. High Yield EUR 945,145 48,853,294 462 1,872,801 - - 51,671,702 Pioneer Funds - Global High Yield EUR 1,479,451 190,330,193 82,847 1,175,543 - - 193,068,034 Exp<strong>en</strong>ses Managem<strong>en</strong>t fees Distribution fees Depositary & administration fees Taxe d’abonnem<strong>en</strong>t Professional fees Printing & publishing fees Performance fees Interest on swaps Other charges Total Exp<strong>en</strong>ses Net Operational Income/(Loss) (22,452,267) (15,524,839) (3,495,095) (1,000,016) (103,309) (71,830) (6,390,273) (439,439) (196,215) (49,673,283) 82,444,669 (6,773,952) (2,781,794) (1,119,636) (246,427) (38,145) (32,233) (3,449) (114,035) (53,472) (11,163,143) 40,508,559 (24,596,618) (14,602,481) (3,412,420) (996,307) (88,226) (89,488) (10,049) (37,857) (106,201) (43,939,647) 149,128,387 Statem<strong>en</strong>t of Changes In Net Assets Net <strong>as</strong>set value at the beginning of the year Net Operational Income/(Loss) 1,911,103,517 82,444,669 582,345,949 40,508,559 2,054,031,173 149,128,387 Net realised gain/(loss) on sales of securities Net realised gain/(loss) on foreign exchange Net realised gain/(loss) on forward foreign exchange contracts Net realised gain/(loss) on financial futures contracts Net realised gain/(loss) on options Net realised gain/(loss) on Contracts For Differ<strong>en</strong>ces Net realised gain/(loss) on swaps Net Realised Gain/(Loss) 49,554,263 (1,933,647) 9,645,085 (15,419,249) - - 1,337,716 43,184,168 26,168,281 3,440,519 311,148 - - - 410,406 30,330,354 78,737,159 7,948 1,674,799 - - - 748,410 81,168,316 Net change in unrealised gain/(loss) on securities Net change in unrealised gain/(loss) on forward foreign exchange contracts Net change in unrealised gain/(loss) on financial futures contracts Net change in unrealised gain/(loss) on options Net change in unrealised gain/(loss) on Contracts For Differ<strong>en</strong>ces Net change in unrealised gain/(loss) on swaps Net Change in Unrealised Gain/(Loss) for the Year Net Incre<strong>as</strong>e/(Decre<strong>as</strong>e) in Net Assets <strong>as</strong> a Result of Operations 58,868,541 (2,555,424) 5,104,653 - - 795,875 62,213,645 187,842,482 17,797,999 (6,331) - - - 2,694,823 20,486,491 91,325,404 92,261,693 (1,743,656) - - - 1,572,135 92,090,172 322,386,875 Net subscriptions/(redemptions) Divid<strong>en</strong>d declared Net Asset Value at Year End 624,134,095 (66,621,474) 2,656,458,620 257,281,827 (14,333,882) 916,619,298 337,165,646 (123,835,257) 2,589,748,437 The accompanying notes form an integral part of these financial statem<strong>en</strong>ts. Pioneer Funds - Annual Report 49
- Page 1 and 2: Annual Report 31 December 2012 (Aud
- Page 3 and 4: Table of Contents Annual Commentary
- Page 5 and 6: Table of Contents Pioneer Funds - E
- Page 7 and 8: Table of Contents Pioneer Funds - L
- Page 9 and 10: Pioneer Funds Annual Report 2012 An
- Page 11 and 12: Pioneer Funds Annual Report 2012 An
- Page 13 and 14: Risk Disclosure (continued) Sub-Fun
- Page 15 and 16: Risk Disclosure (continued) Sub-Fun
- Page 17 and 18: Risk Disclosure (continued) Sub-Fun
- Page 19 and 20: Risk Disclosure (continued) Maximum
- Page 21 and 22: Statement of Net Assets as at 31 De
- Page 23 and 24: Statement of Net Assets as at 31 De
- Page 25 and 26: Statement of Net Assets as at 31 De
- Page 27 and 28: Statement of Net Assets as at 31 De
- Page 29 and 30: Statement of Net Assets as at 31 De
- Page 31 and 32: Statement of Net Assets as at 31 De
- Page 33 and 34: Statement of Net Assets as at 31 De
- Page 35 and 36: Statement of Net Assets as at 31 De
- Page 37 and 38: Statement of Net Assets as at 31 De
- Page 39 and 40: Statement of Net Assets as at 31 De
- Page 41 and 42: Statement of Net Assets as at 31 De
- Page 43 and 44: Statement of Net Assets as at 31 De
- Page 45 and 46: Statement of Operations and Changes
- Page 47 and 48: Statement of Operations and Changes
- Page 49: Statement of Operations and Changes
- Page 53 and 54: Statement of Operations and Changes
- Page 55 and 56: Statement of Operations and Changes
- Page 57 and 58: Statement of Operations and Changes
- Page 59 and 60: Statement of Operations and Changes
- Page 61 and 62: Statement of Operations and Changes
- Page 63 and 64: Statement of Operations and Changes
- Page 65 and 66: Statement of Operations and Changes
- Page 67 and 68: Statement of Unit Statistics as at
- Page 69 and 70: Statement of Unit Statistics as at
- Page 71 and 72: Statement of Unit Statistics as at
- Page 73 and 74: Statement of Unit Statistics as at
- Page 75 and 76: Statement of Unit Statistics as at
- Page 77 and 78: Statement of Unit Statistics as at
- Page 79 and 80: Statement of Unit Statistics as at
- Page 81 and 82: Statement of Unit Statistics as at
- Page 83 and 84: Statement of Unit Statistics as at
- Page 85 and 86: Statement of Unit Statistics as at
- Page 87 and 88: Statement of Unit Statistics as at
- Page 89 and 90: Statement of Unit Statistics as at
- Page 91 and 92: Statement of Unit Statistics as at
- Page 93 and 94: Statement of Unit Statistics as at
- Page 95 and 96: Statement of Unit Statistics as at
- Page 97 and 98: Statement of Unit Statistics as at
- Page 99 and 100: Statement of Unit Statistics as at
- Page 101 and 102:
Statement of Unit Statistics as at
- Page 103 and 104:
Statement of Unit Statistics as at
- Page 105 and 106:
Statement of Unit Statistics as at
- Page 107 and 108:
Statement of Unit Statistics as at
- Page 109 and 110:
Statement of Unit Statistics as at
- Page 111 and 112:
Statement of Unit Statistics as at
- Page 113 and 114:
Statement of Unit Statistics as at
- Page 115 and 116:
Statement of Unit Statistics as at
- Page 117 and 118:
Statement of Unit Statistics as at
- Page 119 and 120:
Statement of Unit Statistics as at
- Page 121 and 122:
Statement of Unit Statistics as at
- Page 123 and 124:
Statement of Unit Statistics as at
- Page 125 and 126:
Statement of Unit Statistics as at
- Page 127 and 128:
Statement of Unit Statistics as at
- Page 129 and 130:
Statement of Unit Statistics as at
- Page 131 and 132:
Statement of Unit Statistics as at
- Page 133 and 134:
Statement of Unit Statistics as at
- Page 135 and 136:
Statement of Unit Statistics as at
- Page 137 and 138:
Statement of Unit Statistics as at
- Page 139 and 140:
Statement of Unit Statistics as at
- Page 141 and 142:
Statement of Unit Statistics as at
- Page 143 and 144:
Statement of Unit Statistics as at
- Page 145 and 146:
Statement of Unit Statistics as at
- Page 147 and 148:
Statement of Unit Statistics as at
- Page 149 and 150:
Statement of Unit Statistics as at
- Page 151 and 152:
Statement of Unit Statistics as at
- Page 153 and 154:
Statement of Unit Statistics as at
- Page 155 and 156:
Statement of Unit Statistics as at
- Page 157 and 158:
Statement of Unit Statistics as at
- Page 159 and 160:
Statement of Unit Statistics as at
- Page 161 and 162:
Statement of Unit Statistics as at
- Page 163 and 164:
Statement of Unit Statistics as at
- Page 165 and 166:
Statement of Unit Statistics as at
- Page 167 and 168:
Statement of Unit Statistics as at
- Page 169 and 170:
Statement of Unit Statistics as at
- Page 171 and 172:
Statement of Unit Statistics as at
- Page 173 and 174:
Statement of Unit Statistics as at
- Page 175 and 176:
Statement of Unit Statistics as at
- Page 177 and 178:
Statement of Unit Statistics as at
- Page 179 and 180:
Statement of Unit Statistics as at
- Page 181 and 182:
Statement of Unit Statistics as at
- Page 183 and 184:
Statement of Unit Statistics as at
- Page 185 and 186:
Statement of Unit Statistics as at
- Page 187 and 188:
Pioneer Funds - Euro Short-Term Sch
- Page 189 and 190:
Pioneer Funds - Euro Cash Plus Sche
- Page 191 and 192:
Pioneer Funds - Euro Cash Plus Sche
- Page 193 and 194:
Pioneer Funds - Euro Corporate Shor
- Page 195 and 196:
Pioneer Funds - Euro Corporate Shor
- Page 197 and 198:
Pioneer Funds - U.S. Dollar Short-T
- Page 199 and 200:
Pioneer Funds - U.S. Dollar Short-T
- Page 201 and 202:
Pioneer Funds - U.S. Dollar Short-T
- Page 203 and 204:
Pioneer Funds - U.S. Dollar Short-T
- Page 205 and 206:
Pioneer Funds - Euro Bond Schedule
- Page 207 and 208:
Pioneer Funds - Euro Bond Schedule
- Page 209 and 210:
Pioneer Funds - Euro Aggregate Bond
- Page 211 and 212:
Pioneer Funds - Euro Aggregate Bond
- Page 213 and 214:
Pioneer Funds - Euro Aggregate Bond
- Page 215 and 216:
Pioneer Funds - Euro Aggregate Bond
- Page 217 and 218:
Pioneer Funds - Euro Corporate Bond
- Page 219 and 220:
Pioneer Funds - Euro Corporate Bond
- Page 221 and 222:
Pioneer Funds - Euro Corporate Bond
- Page 223 and 224:
Pioneer Funds - Euro Corporate Tren
- Page 225 and 226:
Pioneer Funds - Euro Corporate Tren
- Page 227 and 228:
Pioneer Funds - U.S. Dollar Aggrega
- Page 229 and 230:
Pioneer Funds - U.S. Dollar Aggrega
- Page 231 and 232:
Pioneer Funds - U.S. Dollar Aggrega
- Page 233 and 234:
Pioneer Funds - U.S. Dollar Aggrega
- Page 235 and 236:
Pioneer Funds - U.S. Dollar Aggrega
- Page 237 and 238:
Pioneer Funds - U.S. Dollar Aggrega
- Page 239 and 240:
Pioneer Funds - U.S. Dollar Aggrega
- Page 241 and 242:
Pioneer Funds - U.S. Dollar Aggrega
- Page 243 and 244:
Pioneer Funds - Global Aggregate Bo
- Page 245 and 246:
Pioneer Funds - Global Aggregate Bo
- Page 247 and 248:
Pioneer Funds - Global Aggregate Bo
- Page 249 and 250:
Pioneer Funds - Global Aggregate Bo
- Page 251 and 252:
Pioneer Funds - Obbligazionario Eur
- Page 253 and 254:
Pioneer Funds - Obbligazionario Eur
- Page 255 and 256:
Pioneer Funds - Obbligazionario Eur
- Page 257 and 258:
Pioneer Funds - Obbligazionario Eur
- Page 259 and 260:
Pioneer Funds - U.S. Credit Recover
- Page 261 and 262:
Pioneer Funds - U.S. Credit Recover
- Page 263 and 264:
Pioneer Funds - High Yield & Emergi
- Page 265 and 266:
Pioneer Funds - Emerging Markets Co
- Page 267 and 268:
Pioneer Funds - Emerging Markets Co
- Page 269 and 270:
Pioneer Funds - Euro Strategic Bond
- Page 271 and 272:
Pioneer Funds - Euro Strategic Bond
- Page 273 and 274:
Pioneer Funds - Euro Strategic Bond
- Page 275 and 276:
Pioneer Funds - Euro Strategic Bond
- Page 277 and 278:
Pioneer Funds - Strategic Income Sc
- Page 279 and 280:
Pioneer Funds - Strategic Income Sc
- Page 281 and 282:
Pioneer Funds - Strategic Income Sc
- Page 283 and 284:
Pioneer Funds - Strategic Income Sc
- Page 285 and 286:
Pioneer Funds - Strategic Income Sc
- Page 287 and 288:
Pioneer Funds - Strategic Income Sc
- Page 289 and 290:
Pioneer Funds - Strategic Income Sc
- Page 291 and 292:
Pioneer Funds - Strategic Income Sc
- Page 293 and 294:
Pioneer Funds - Strategic Income Sc
- Page 295 and 296:
Pioneer Funds - Strategic Income Sc
- Page 297 and 298:
Pioneer Funds - Strategic Income Sc
- Page 299 and 300:
Pioneer Funds - Strategic Income Sc
- Page 301 and 302:
Pioneer Funds - Strategic Income Sc
- Page 303 and 304:
Pioneer Funds - U.S. High Yield Sch
- Page 305 and 306:
Pioneer Funds - U.S. High Yield Sch
- Page 307 and 308:
Pioneer Funds - U.S. High Yield Sch
- Page 309 and 310:
Pioneer Funds - U.S. High Yield Sch
- Page 311 and 312:
Pioneer Funds - U.S. High Yield Sch
- Page 313 and 314:
Pioneer Funds - U.S. High Yield Sch
- Page 315 and 316:
Pioneer Funds - Global High Yield S
- Page 317 and 318:
Pioneer Funds - Global High Yield S
- Page 319 and 320:
Pioneer Funds - Global High Yield S
- Page 321 and 322:
Pioneer Funds - Global High Yield S
- Page 323 and 324:
Pioneer Funds - Global High Yield S
- Page 325 and 326:
Pioneer Funds - Global High Yield S
- Page 327 and 328:
Pioneer Funds - Global High Yield S
- Page 329 and 330:
Pioneer Funds - Global High Yield S
- Page 331 and 332:
Pioneer Funds - Euro High Yield Sch
- Page 333 and 334:
Pioneer Funds - Euro High Yield Sch
- Page 335 and 336:
Pioneer Funds - Euro High Yield Sch
- Page 337 and 338:
Pioneer Funds - Emerging Markets Co
- Page 339 and 340:
Pioneer Funds - Emerging Markets Co
- Page 341 and 342:
Pioneer Funds - Emerging Markets Bo
- Page 343 and 344:
Pioneer Funds - Emerging Markets Bo
- Page 345 and 346:
Pioneer Funds - Emerging Markets Bo
- Page 347 and 348:
Pioneer Funds - Emerging Markets Bo
- Page 349 and 350:
Pioneer Funds - Emerging Markets Bo
- Page 351 and 352:
Pioneer Funds - Emerging Markets Co
- Page 353 and 354:
Pioneer Funds - Absolute Return Bon
- Page 355 and 356:
Pioneer Funds - Absolute Return Bon
- Page 357 and 358:
Pioneer Funds - Absolute Return Cur
- Page 359 and 360:
Pioneer Funds - Absolute Return Eur
- Page 361 and 362:
Pioneer Funds - Absolute Return Asi
- Page 363 and 364:
Pioneer Funds - Absolute Return Asi
- Page 365 and 366:
Pioneer Funds - Absolute Return Asi
- Page 367 and 368:
Pioneer Funds - Absolute Return Mul
- Page 369 and 370:
Pioneer Funds - Absolute Return Mul
- Page 371 and 372:
Pioneer Funds - Absolute Return Mul
- Page 373 and 374:
Pioneer Funds - Absolute Return Mul
- Page 375 and 376:
Pioneer Funds - Absolute Return Mul
- Page 377 and 378:
Pioneer Funds - Absolute Return Mul
- Page 379 and 380:
Pioneer Funds - Absolute Return Mul
- Page 381 and 382:
Pioneer Funds - Absolute Return Mul
- Page 383 and 384:
Pioneer Funds - Absolute Return Mul
- Page 385 and 386:
Pioneer Funds - Global Multi-Asset
- Page 387 and 388:
Pioneer Funds - Global Multi-Asset
- Page 389 and 390:
Pioneer Funds - Global Multi-Asset
- Page 391 and 392:
Pioneer Funds - Global Multi-Asset
- Page 393 and 394:
Pioneer Funds - Multi Asset Real Re
- Page 395 and 396:
Pioneer Funds - Multi Asset Real Re
- Page 397 and 398:
Pioneer Funds - Multi Asset Real Re
- Page 399 and 400:
Pioneer Funds - Euroland Equity Sch
- Page 401 and 402:
Pioneer Funds - Core European Equit
- Page 403 and 404:
Pioneer Funds - Core European Equit
- Page 405 and 406:
Pioneer Funds - Top European Player
- Page 407 and 408:
Pioneer Funds - European Equity Val
- Page 409 and 410:
Pioneer Funds - European Research S
- Page 411 and 412:
Pioneer Funds - European Potential
- Page 413 and 414:
Pioneer Funds - European Potential
- Page 415 and 416:
Pioneer Funds - European Equity Tar
- Page 417 and 418:
Pioneer Funds - German Equity Sched
- Page 419 and 420:
Pioneer Funds - Italian Equity Sche
- Page 421 and 422:
Pioneer Funds - U.S. Pioneer Fund S
- Page 423 and 424:
Pioneer Funds - U.S. Pioneer Fund S
- Page 425 and 426:
Pioneer Funds - U.S. Pioneer Fund S
- Page 427 and 428:
Pioneer Funds - U.S. Research Sched
- Page 429 and 430:
Pioneer Funds - U.S. Research Sched
- Page 431 and 432:
Pioneer Funds - U.S. Fundamental Gr
- Page 433 and 434:
Pioneer Funds - U.S. Research Value
- Page 435 and 436:
Pioneer Funds - North American Basi
- Page 437 and 438:
Pioneer Funds - U.S. Mid Cap Value
- Page 439 and 440:
Pioneer Funds - Global Equity Targe
- Page 441 and 442:
Pioneer Funds - Global Equity Targe
- Page 443 and 444:
Pioneer Funds - Global Select Sched
- Page 445 and 446:
Pioneer Funds - Global Select Sched
- Page 447 and 448:
Pioneer Funds - Global Select Sched
- Page 449 and 450:
Pioneer Funds - Global Ecology Sche
- Page 451 and 452:
Pioneer Funds - Gold and Mining Sch
- Page 453 and 454:
Pioneer Funds - Japanese Equity Sch
- Page 455 and 456:
Pioneer Funds - Japanese Equity Sch
- Page 457 and 458:
Pioneer Funds - Japanese Equity Sch
- Page 459 and 460:
Pioneer Funds - Emerging Markets Eq
- Page 461 and 462:
Pioneer Funds - Emerging Markets Eq
- Page 463 and 464:
Pioneer Funds - Emerging Europe and
- Page 465 and 466:
Pioneer Funds - Emerging Europe and
- Page 467 and 468:
Pioneer Funds - Asia (Ex. Japan) Eq
- Page 469 and 470:
Pioneer Funds - Asia (Ex. Japan) Eq
- Page 471 and 472:
Pioneer Funds - Latin American Equi
- Page 473 and 474:
Pioneer Funds - China Equity Schedu
- Page 475 and 476:
Pioneer Funds - China Equity Schedu
- Page 477 and 478:
Pioneer Funds - Indian Equity Sched
- Page 479 and 480:
Pioneer Funds - Indian Equity Sched
- Page 481 and 482:
Pioneer Funds - Russian Equity Sche
- Page 483 and 484:
Pioneer Funds Notes to the Financia
- Page 485 and 486:
Pioneer Funds Notes to the Financia
- Page 487 and 488:
Pioneer Funds Notes to the Financia
- Page 489 and 490:
Pioneer Funds Notes to the Financia
- Page 491 and 492:
Pioneer Funds Notes to the Financia
- Page 493 and 494:
Pioneer Funds Notes to the Financia
- Page 495 and 496:
Pioneer Funds Notes to the Financia
- Page 497 and 498:
Pioneer Funds Notes to the Financia
- Page 499 and 500:
Pioneer Funds Notes to the Financia
- Page 501 and 502:
Management and Administration Manag
- Page 503 and 504:
Management and Administration (cont