Pioneer Emerging Markets Local Currency Debt Fund

Top 10 Portfolio Holdings as of 3/31/2015
Default: sorted by market value

Security Name Par / Shares Market Value
Akbank TAS, 7.5%, 2/5/18 1,150,000 $411,432
America Movil SAB de CV, 6.0%, 6/9/19 2,000,000 $133,669
America Movil SAB de CV, 6.45%, 12/5/22 3,000,000 $193,855
America Movil SAB de CV, 7.125%, 12/9/24 2,000,000 $132,527
Arcelik AS, 3.875%, 9/16/21 100,000 $110,659
Banco ABC Brasil SA, 8.5%, 3/28/16 700,000 $223,136
Banco Safra SA, 10.25%, 8/8/16 700,000 $210,243
Banco Santander Chile, 6.5%, 9/22/20 50,000,000 $82,085
Brazil Notas do Tesouro Nacional Serie F, 10.0%, 1/1/17 360,000 $109,824
Brazil Notas do Tesouro Nacional Serie F, 10.0%, 1/1/18 180,000 $55,320
Brazil Notas do Tesouro Nacional Serie F, 10.0%, 1/1/19 450,000 $131,883
Brazil Notas do Tesouro Nacional Serie F, 10.0%, 1/1/21 530,000 $150,351
Brazil Notas do Tesouro Nacional Serie F, 10.0%, 1/1/23 350,000 $96,694
Colombian TES, 10.0%, 7/24/24 200,000,000 $98,671
Colombian TES, 6.0%, 4/28/28 120,000,000 $43,125
Colombian TES, 7.0%, 5/4/22 300,000,000 $126,645
Development Bank of Southern Africa, Ltd., 0.0%, 12/31/27 6,600,000 $155,699
Emgesa SA ESP, 8.75%, 1/25/21 560,000,000 $236,434
Empresas Publicas de Medellin ESP, 8.375%, 2/1/21 400,000,000 $164,975
Eskom Holdings SOC, Ltd., 0.0%, 12/31/18 2,000,000 $110,731
Eskom Holdings SOC, Ltd., 10.0%, 1/25/23 3,000,000 $276,925
European Bank for Reconstruction & Development, 5.625%, 3/15/17 8,000,000 $128,671
European Bank for Reconstruction & Development, 7.25%, 8/22/17 800,000,000 $62,868
European Investment Bank, 4.25%, 10/25/22 870,000 $268,580
Export-Import Bank of Korea, 7.55%, 8/27/15 16,000,000 $268,598
Export-Import Bank of Korea, 8.2%, 5/31/16 270,000 $104,972
Export-Import Bank of Korea, 8.4%, 7/6/16 1,000,000,000 $80,677
Federal Grid Co OJS via Federal Grid Finance, Ltd., 8.446%, 3/13/19 2,000,000 $28,491
Finansbank AS, 6.25%, 4/30/19 200,000 $208,493
Fixed 02 Jan 2018 Brl 11.025% 212,403 $
Fixed 04 Jan 2021 Brl 10.795% -52,457 $
Fixed 24 Mar 2017 Zar 6.93% 6,000,000 $
Float 02 Jan 2018 Brl Brl Overnight Cdi (Cetip) Rate 0 Bps -212,403 $
Float 04 Jan 2021 Brl Brl Overnight Cdi (Cetip) Rate 0 Bps 52,457 $
Float 24 Mar 2017 Zar 3m Ba 0 Bps -6,000,000 $
Fswp: Cop 5.920000 07-May-2024 Cop Buy 255,000,000 $522
Fswp: Zar 6.930000 24-Mar-2017 Zar Buy 6,000,000 $-846
Fx Vanilla Option Call Eur/Put Huf 330 20 08 2015 Hu -50,000 $-177
Fx Vanilla Option Call Eur/Put Mxn 19 20 07 2015 Mx -100,000 $-273
Fx Vanilla Option Call Eur/Put Mxn 19 20 07 2015 Mx 100,000 $273
Fx Vanilla Option Call Eur/Put Pln 4.4 22 10 2015 Pl -200,000 $-1,225
Fx Vanilla Option Call Gbp/Put Try 4.5 22 12 2015 Tr -150,000 $-5,729
Hungary Government Bond, 6.0%, 11/24/23 14,000,000 $61,415
Hungary Government Bond, 6.5%, 6/24/19 24,500,000 $106,469
Hungary Government Bond, 6.75%, 11/24/17 14,500,000 $59,694
Hungary Government Bond, 7.5%, 11/12/20 40,000,000 $182,180
Indonesia Treasury Bond, 10.0%, 9/15/24 2,200,000,000 $197,136
Indonesia Treasury Bond, 10.5%, 8/15/30 2,520,000,000 $243,727
Indonesia Treasury Bond, 11.0%, 9/15/25 2,720,000,000 $260,782
Indonesia Treasury Bond, 8.25%, 6/15/32 1,380,000,000 $112,926
Indonesia Treasury Bond, 9.5%, 7/15/31 2,140,000,000 $193,670
Inter-American Development Bank, 7.25%, 7/17/17 700,000,000 $55,575
International Bank for Reconstruction & Development, 10.0%, 10/28/15 50,000,000 $224,484
International Bank for Reconstruction & Development, 4.5%, 8/3/17 130,000,000 $51,202
Itau Unibanco Holding SA, 10.5%, 11/23/15 400,000 $127,442
JPMorgan Chase Bank NA, 7.7%, 6/1/16 2,000,000,000 $158,918
Malaysia Government Bond, 3.58%, 9/28/18 891,000 $241,717
Malaysia Government Bond, 4.16%, 7/15/21 800,000 $222,663
Malaysia Government Bond, 4.378%, 11/29/19 800,000 $225,994
Malaysia Government Bond, 4.498%, 4/15/30 200,000 $57,214
Mexican Bonos, 10.0%, 11/20/36 2,250,000 $212,739
Mexican Bonos, 10.0%, 12/5/24 2,000,000 $174,202
Mexican Bonos, 6.0%, 6/18/15 1,000,000 $67,127
Mexican Bonos, 6.5%, 6/10/21 3,340,000 $233,400
Mexican Bonos, 8.5%, 12/13/18 1,820,000 $136,511
Peru Government Bond, 6.95%, 8/12/31 100,000 $33,496
Peru Government Bond, 7.84%, 8/12/20 100,000 $42,252
Peru Government Bond, 8.2%, 8/12/26 200,000 $81,327
Poland Government Bond, 3.25%, 7/25/19 250,000 $71,081
Poland Government Bond, 4.75%, 10/25/16 100,000 $28,221
Poland Government Bond, 4.75%, 4/25/17 600,000 $176,173
Poland Government Bond, 5.0%, 4/25/16 381,000 $108,831
Poland Government Bond, 5.25%, 10/25/17 300,000 $88,080
Poland Government Bond, 5.5%, 10/25/19 500,000 $155,718
Raiffeisen Bank SA, 5.35%, 5/15/19 650,000 $176,486
Romania Government Bond, 5.85%, 4/26/23 90,000 $27,354
Russian Federal Bond - OFZ, 7.4%, 4/19/17 5,000,000 $81,284
Russian Federal Bond - OFZ, 7.5%, 3/15/18 500,000 $7,974
Russian Railways via RZD Capital Plc, 8.3%, 4/2/19 12,000,000 $179,302
Scds: (Russia) Usd 20dec15 Buy Bnr1dbdv7 100,000 $-1,300
South Africa Government Bond, 6.25%, 3/31/36 1,200,000 $81,954
South Africa Government Bond, 6.75%, 3/31/21 2,000,000 $165,741
South Africa Government Bond, 7.0%, 2/28/31 1,200,000 $88,891
South Africa Government Bond, 8.0%, 12/21/18 600,000 $52,070
South Africa Government Bond, 8.25%, 9/15/17 1,000,000 $85,270
South Africa Government Bond - CPI Linked, 2.75%, 1/31/22 390,000 $43,822
Swp: Brl 10.795000 04-Jan-2021 Brl Sell 52,457 $877
Swp: Brl 11.025000 02-Jan-2018 Brl Buy 212,403 $-2,578
Thailand Government Bond, 3.625%, 6/16/23 1,375,000 $45,828
Thailand Government Bond, 5.125%, 3/13/18 3,700,000 $124,139
Thailand Government Bond, 5.625%, 1/12/19 3,637,000 $127,163
Turkey Government Bond, 10.4%, 3/20/24 280,000 $127,622
Turkey Government Bond, 2.4%, 5/8/24 45,000 $19,243
Turkey Government Bond, 5.0%, 5/13/15 100,000 $39,092
Turkey Government Bond, 8.5%, 7/10/19 70,000 $27,631
Turkey Government Bond, 8.5%, 9/14/22 150,000 $58,337
Turkey Government Bond, 8.8%, 9/27/23 105,000 $43,477
Turkey Government Bond, 9.0%, 1/27/16 260,000 $101,603
Turkey Government Bond, 9.5%, 1/12/22 30,000 $12,455
Turkiye Is Bankasi, 0.0%, 11/16/15 300,000 $108,654

The portfolio is actively managed, and current holdings may be different.

For fund descriptions, historical and current performance, standardized returns as of the most recent quarter-end, risk disclosure or a prospectus, please click here.

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