October 14, 1998
PIONEER WORLD EQUITY FUND
SUPPLEMENT TO PROSPECTUS
DATED JULY 29, 1998
The following supplements the corresponding section of the Prospectus. Please
consult the Prospectus for the full text of the supplemented section.
IV. MANAGEMENT OF THE FUND
The following replaces the third, fourth and fifth paragraphs:
Ms. Theresa A. Hamacher, chief investment officer of PMC since
September 1, 1998, has general responsibility for PMC's investment operations.
Ms. Hamacher joined PMC in 1997 and has been an investment professional since
1984. Mr. David Tripple, who formerly served as chief investment officer,
continues as president of PMC and executive vice president of all the Pioneer
mutual funds.
Day-to-day management of the Fund is the responsibility of Patrick M.
Smith, a vice president of PMC and the Fund. Mr. Smith joined PMC in 1992 and
has been an investment professional since 1986.
Day-to-day management of the U.S. investments of the Fund is the
responsibility of a team of U.S. equity managers and analysts led by Richard E.
Dahlberg. Mr. Dahlberg is a senior vice president of PMC. He joined PMC in
September 1998 and has been an investment professional since 1960. Prior to
joining PMC, Mr. Dahlberg was a managing director and head of U.S. equity
investments for Salomon Brothers Asset Management from 1995 to 1998 and a
portfolio manager for Massachusetts Financial Services Company from 1973 to
1995.
Mr. Smith is assisted by a team of managers and analysts which does
research for and oversees the management of several funds with similar
investment objectives. Members of the team meet regularly to discuss holdings,
prospective investments and portfolio composition.
VII. HOW TO BUY FUND SHARES
CLASS B SHARES
These sentences replace the second sentence of the second paragraph:
For the purpose of determining the number of years from the time of any
purchase after September 30, 1998, all payments during a month will be
aggregated and deemed to have been made on the first day of that month. For the
purpose of determining the number of years from the time of any purchase made
prior to October 1, 1998, all payments during a calendar quarter will be
aggregated and deemed to have been made on the first day of that quarter.
This sentence replaces the first sentence of the fifth paragraph:
Class B shares will automatically convert into Class A shares at the
beginning of the month (or the calendar quarter for purchases made prior to
October 1, 1998) that is eight years after the purchase date, except as noted
below.
CLASS C SHARES
These sentences replace the first sentence of the second paragraph:
For the purpose of determining the number of years from the time of any
purchase after September 30, 1998, all payments during a month will be
aggregated and deemed to have been made on the first day of that month. For the
purpose of determining the number of years from the time of any purchase made
prior to October 1, 1998, all payments during a calendar quarter will be
aggregated and deemed to have been made on the first day of that quarter.
1098-5770
(C) Pioneer Funds Distributor, Inc.
