1. Effective November 1, 2012, Pioneer Cash Reserves Fund ceased to offer Class B, Class C and Class R shares. On that date, all outstanding Class B, Class C and Class R shares were converted to Class A shares of the Fund. 2. On or about June 7, 2013, Pioneer Disciplined Growth Fund will reorganize with Pioneer Independence Fund. The combined fund will be renamed Pioneer Disciplined Growth Fund. 3. On or about June 7, 2013, Pioneer Disciplined Value Fund will reorganize with Pioneer Fundamental Value Fund. The combined fund will be renamed Pioneer Disciplined Value Fund.L 4. As of March 1, 2013, Pioneer Equity Opportunity Fund was closed to new purchases. Effective March 15, 2013, the Fund will be liquidated. 5. Effective June 30, 2012, Pioneer Cullen Value Fund was renamed Pioneer Fundamental Value Fund. 6. At a Board meeting held on May 20, 2012, the Board of Trustees of Pioneer Cullen Value Fund and Pioneer Cullen Value VCT Portfolio approved a proposal by Pioneer Investment Management, Inc. ("Pioneer") to assume direct responsibility for the day-to-day management of each fund's portfolio, effective August 1, 2012. Currently, Pioneer, the fund's investment adviser, oversees the fund's operations and supervises Cullen Capital Management LLC ("Cullen") as investment subadviser to the fund. Cullen will continue to serve as the fund's subadviser through July 31, 2012. 7. On or about June 7, 2013, Pioneer Select Mid Cap Growth Fund will reorganize with Pioneer Growth Opportunities Fund. The combined fund will be renamed Pioneer Select Mid Cap Growth Fund. 8. Effective June 30, 2012, Pioneer Multi-Asset Floating Rate Fund was renamed Pioneer Multi-Asset Ultrashort Income Fund. 9. On or about June 7, 2013, Pioneer Research Fund will reorganize with Pioneer Value Fund. The combined fund will be renamed Pioneer Core Equity Fund. 10. Effective March 20, 2009, Pioneer Select Growth Fund was liquidated.
