<PAGE> PAGE 1
000 B000000 03/31/99
000 C000000 0001019290
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PIONEER WORLD EQUITY FUND
001 B000000 811-07733
001 C000000 6177427825
002 A000000 60 STATE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
002 D020000 1820
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 PIONEER INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-8255
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
008 D040001 1820
010 A000001 PIONEER INVESTMENT MANAGEMENT, INC.
010 B000001 801-8255
010 C010001 BOSTON
010 C020001 MA
010 C030001 02109
010 C040001 1820
011 A000001 PIONEER FUNDS DISTRIBUTOR, INC.
011 B000001 8-41256
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
<PAGE> PAGE 2
011 C040001 1820
012 A000001 PIONEERING SERVICES CORPORATION
012 B000001 84-1359
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
012 C040001 1820
013 A000001 ARTHUR ANDERSEN LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
013 B040001 2812
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 C040001 1975
015 E010001 X
015 A000002 CITIBANK
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
015 A000003 BANK AUSTRIA
015 B000003 S
015 C010003 VIENNA
015 D010003 AUSTRIA
015 E040003 X
015 A000004 NATIONAL AUSTRALIA BANK
015 B000004 S
015 C010004 MELBOURNE
015 D010004 AUSTRALIA
015 E040004 X
015 A000005 BANQUE BRUXELLES LAMBERT
015 B000005 S
015 C010005 BRUSSELS
015 D010005 BELGIUM
015 D020005 B-1000
015 E040005 X
015 A000006 BANK OF BOSTON
015 B000006 S
015 C010006 SAO PAULO
015 D010006 BRAZIL
015 D020006 01009-000
015 E040006 X
015 A000007 ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 E040007 X
<PAGE> PAGE 3
015 A000008 UNION BANK OF SWITZERLAND
015 B000008 S
015 C010008 ZURICH
015 D010008 SWITZERLAND
015 E040008 X
015 A000009 DRESDNER BANK
015 B000009 S
015 C010009 FRANKFURT
015 D010009 GERMANY
015 D020009 60301
015 E040009 X
015 A000010 DEN DANSKE BANK
015 B000010 S
015 C010010 COPENHAGEN
015 D010010 DENMARK
015 D020010 DK-1092
015 E040010 X
015 A000011 BANCO DE SANTANDER
015 B000011 S
015 C010011 MADRID
015 D010011 SPAIN
015 D020011 39004
015 E040011 X
015 A000012 MERITA BANK
015 B000012 S
015 C010012 HELSINKI
015 D010012 FINLAND
015 D020012 FIN-00020
015 E040012 X
015 A000013 BANQUE PARIBAS
015 B000013 S
015 C010013 PARIS
015 D010013 FRANCE
015 D020013 75002
015 E040013 X
015 A000014 ROYAL BANK OF SCOTLAND
015 B000014 S
015 C010014 LONDON
015 D010014 ENGLAND
015 D020014 8XL
015 E040014 X
015 A000015 CITIBANK, N.A.
015 B000015 S
015 C010015 ATHENS
015 D010015 GREECE
015 D020015 10557
015 E040015 X
015 A000016 STANDARD CHARTERED BANK
015 B000016 S
015 C010016 HONG KONG
015 D010016 HONG KONG
<PAGE> PAGE 4
015 E040016 X
015 A000017 STANDARD CHARTERED BANK
015 B000017 S
015 C010017 SINGAPORE
015 D010017 SINGAPORE
015 E040017 X
015 A000018 CITIBANK, N.A.
015 B000018 S
015 C010018 JAKARTA
015 D010018 INDONESIA
015 D020018 12910
015 E040018 X
015 A000019 BANCA COMMERCIALE ITALIANA
015 B000019 S
015 C010019 MILAN
015 D010019 ITALY
015 E040019 X
015 A000020 SUMITOMO TRUST & BANKING CO., LTD.
015 B000020 S
015 C010020 TOKYO
015 D010020 JAPAN
015 E040020 X
015 A000021 CITIBANK, N.A.
015 B000021 S
015 C010021 SEOUL
015 D010021 SOUTH KOREA
015 E040021 X
015 A000022 CITIBANK, N.A.
015 B000022 S
015 C010022 MEXICO CITY
015 D010022 MEXICO
015 D020022 06695 DF
015 E040022 X
015 A000023 ABN-AMRO BANK NV
015 B000023 S
015 C010023 AMSTERDAM
015 D010023 NETHERLANDS
015 E040023 X
015 A000024 NATIONAL NOMINEES LTD.
015 B000024 S
015 C010024 AUCKLAND
015 D010024 NEW ZEALAND
015 E040024 X
015 A000025 DEN NORSKE BANK
015 B000025 S
015 C010025 OSLO
015 D010025 NORWAY
015 E040025 X
015 A000026 BANCO COMMERCIAL PORTUGUESE SA
015 B000026 S
015 C010026 LISBON
<PAGE> PAGE 5
015 D010026 PORTUGAL
015 D020026 1250
015 E040026 X
015 A000027 SKANDINAVISKA ENSKILDA BANKEN
015 B000027 S
015 C010027 STOCKHOLM
015 D010027 SWEDEN
015 D020027 S-106 40
015 E040027 X
015 A000028 HONG KONG & SHANGHAI BANKING CORP.
015 B000028 S
015 C010028 BANGKOK
015 D010028 THAILAND
015 D020028 10500
015 E040028 X
015 A000029 HONG KONG BANK MALAYSIA BERHAD
015 B000029 S
015 C010029 KUALA LUMPUR
015 D010029 MALAYSIA
015 E040029 X
015 A000030 CITIBANK, N.A.
015 B000030 S
015 C010030 MANILA
015 D010030 PHILIPPINES
015 E040030 X
015 A000031 CITIBANK
015 B000031 S
015 C010031 MUMBAI
015 D010031 INDIA
015 E040031 X
015 A000032 CITIBANK
015 B000032 S
015 C010032 WARSAW
015 D010032 POLAND
015 E040032 X
015 A000033 CENTRAL TRUST OF CHINA
015 B000033 S
015 C010033 TAIPEI
015 D010033 TAIWAN
015 E040033 X
018 000000 Y
019 A000000 Y
019 B000000 36
019 C000000 PIONEERFDS
020 A000001 CAPEL, JAMES INC.
020 B000001 13-2650272
020 C000001 15
020 A000002 MORGAN (J.P.) INTERNATIONAL
020 B000002 13-3224016
020 C000002 11
020 A000003 GOLDMAN SACHS INTERNATIONAL
<PAGE> PAGE 6
020 B000003 13-5108880
020 C000003 10
020 A000004 ROBERT FLEMING INC.
020 B000004 13-3298866
020 C000004 8
020 A000005 MORGAN STANLEY INTERNATIONAL
020 B000005 13-2655998
020 C000005 6
020 A000006 FIRST BOSTON INTERNATIONAL
020 C000006 5
020 A000007 SOCIETE GENERALE
020 B000007 13-1976032
020 C000007 5
020 A000008 MERRILL LYNCH INTERNATIONAL
020 C000008 5
020 A000009 TROSTER SINGER
020 C000009 5
020 A000010 TUCKER, ANTHONY
020 B000010 04-2566229
020 C000010 4
021 000000 129
022 A000001 BROWN BROTHERS HARRIMAN
022 B000001 13-4973745
022 C000001 137184
022 D000001 1637
022 A000002 HOUSEHOLD FINANCE
022 B000002 36-1239445
022 C000002 116770
022 D000002 0
022 A000003 EXXON ASSET MANAGEMENT
022 C000003 49001
022 D000003 0
022 A000004 AMERICAN EXPRESS
022 B000004 11-1988350
022 C000004 27575
022 D000004 0
022 A000005 FORD MOTOR CREDIT
022 B000005 38-1612444
022 C000005 25293
022 D000005 2240
022 A000006 TEXACO INC.
022 B000006 74-1383447
022 C000006 22301
022 D000006 0
022 A000007 EXXON CREDIT CORP.
022 C000007 15923
022 D000007 0
022 A000008 CITIGROUP INC.
022 C000008 15393
022 D000008 0
022 A000009 TRAVELERS/AETNA PROP.
<PAGE> PAGE 7
022 C000009 9868
022 D000009 0
022 A000010 GOLDMAN SACHS INTERNATIONAL
022 B000010 13-5108880
022 C000010 2765
022 D000010 4167
023 C000000 447473
023 D000000 26753
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 3196
028 A020000 0
028 A030000 0
028 A040000 2725
028 B010000 4334
028 B020000 0
028 B030000 0
028 B040000 5885
028 C010000 4124
028 C020000 27
028 C030000 0
028 C040000 4361
028 D010000 2693
028 D020000 0
028 D030000 0
028 D040000 2911
028 E010000 4376
028 E020000 0
028 E030000 0
028 E040000 5242
028 F010000 2432
028 F020000 0
028 F030000 0
028 F040000 3300
<PAGE> PAGE 8
028 G010000 21155
028 G020000 27
028 G030000 0
028 G040000 24424
028 H000000 1062
029 000000 Y
030 A000000 114
030 B000000 5.75
030 C000000 0.00
031 A000000 15
031 B000000 0
032 000000 99
033 000000 0
034 000000 Y
035 000000 30
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 202
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 300000
048 A020000 1.000
048 B010000 200000
048 B020000 0.850
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
<PAGE> PAGE 9
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 500000
048 K020000 0.750
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
<PAGE> PAGE 10
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
<PAGE> PAGE 11
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 28148
071 B000000 29655
071 C000000 39158
071 D000000 72
072 A000000 12
072 B000000 90
072 C000000 618
072 D000000 0
072 E000000 0
072 F000000 405
072 G000000 0
072 H000000 0
072 I000000 147
072 J000000 51
072 K000000 0
072 L000000 26
072 M000000 23
072 N000000 37
072 O000000 0
072 P000000 0
072 Q000000 29
072 R000000 45
072 S000000 4
072 T000000 202
072 U000000 0
072 V000000 0
072 W000000 7
072 X000000 976
072 Y000000 180
072 Z000000 -88
072AA000000 0
072BB000000 2357
072CC010000 0
072CC020000 1418
072DD010000 0
072DD020000 0
072EE000000 29
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0132
073 C000000 0.0000
074 A000000 1
074 B000000 0
074 C000000 1664
074 D000000 0
074 E000000 301
074 F000000 36726
074 G000000 0
<PAGE> PAGE 12
074 H000000 0
074 I000000 458
074 J000000 532
074 K000000 0
074 L000000 124
074 M000000 2
074 N000000 39808
074 O000000 738
074 P000000 53
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 835
074 S000000 0
074 T000000 38182
074 U010000 1311
074 U020000 766
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 4935
074 Y000000 0
075 A000000 0
075 B000000 40468
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 25000
081 A000000 Y
081 B000000 36
082 A000000 N
<PAGE> PAGE 13
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE ROBERT P. NAULT
TITLE ASST. SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001019290
<NAME> PIONEER WORLD EQUITY FUND
<SERIES>
<NUMBER> 001
<NAME> PIONEER WORLD EQUITY FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 32127766
<INVESTMENTS-AT-VALUE> 38690826
<RECEIVABLES> 655348
<ASSETS-OTHER> 2538
<OTHER-ITEMS-ASSETS> 459561
<TOTAL-ASSETS> 39808273
<PAYABLE-FOR-SECURITIES> 737879
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 888683
<TOTAL-LIABILITIES> 1626562
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35446990
<SHARES-COMMON-STOCK> 1310510
<SHARES-COMMON-PRIOR> 1601616
<ACCUMULATED-NII-CURRENT> 187983
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 3456271
<ACCUM-APPREC-OR-DEPREC> 6003009
<NET-ASSETS> 38181711
<DIVIDEND-INCOME> 617862
<INTEREST-INCOME> 89900
<OTHER-INCOME> 0
<EXPENSES-NET> 795517
<NET-INVESTMENT-INCOME> (87755)
<REALIZED-GAINS-CURRENT> (2357249)
<APPREC-INCREASE-CURRENT> (1418208)
<NET-CHANGE-FROM-OPS> (3863212)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 18666
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2272092
<NUMBER-OF-SHARES-REDEEMED> 2564172
<SHARES-REINVESTED> 974
<NET-CHANGE-IN-ASSETS> (6282148)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 149813
<OVERDIST-NET-GAINS-PRIOR> 1046418
<GROSS-ADVISORY-FEES> 404851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 979126
<AVERAGE-NET-ASSETS> 27090578
<PER-SHARE-NAV-BEGIN> 20.03
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (1.48)
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.55
<EXPENSE-RATIO> 1.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001019290
<NAME> PIONEER WORLD EQUITY FUND
<SERIES>
<NUMBER> 002
<NAME> PIONEER WORLD EQUITY FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 32127766
<INVESTMENTS-AT-VALUE> 38690826
<RECEIVABLES> 655348
<ASSETS-OTHER> 2538
<OTHER-ITEMS-ASSETS> 459561
<TOTAL-ASSETS> 39808273
<PAYABLE-FOR-SECURITIES> 737879
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 888683
<TOTAL-LIABILITIES> 1626562
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35446990
<SHARES-COMMON-STOCK> 663205
<SHARES-COMMON-PRIOR> 562569
<ACCUMULATED-NII-CURRENT> 187983
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 3456271
<ACCUM-APPREC-OR-DEPREC> 6003009
<NET-ASSETS> 38181711
<DIVIDEND-INCOME> 617862
<INTEREST-INCOME> 89900
<OTHER-INCOME> 0
<EXPENSES-NET> 795517
<NET-INVESTMENT-INCOME> (87755)
<REALIZED-GAINS-CURRENT> (2357249)
<APPREC-INCREASE-CURRENT> (1418208)
<NET-CHANGE-FROM-OPS> (3863212)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 8958
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 356595
<NUMBER-OF-SHARES-REDEEMED> 256431
<SHARES-REINVESTED> 472
<NET-CHANGE-IN-ASSETS> (6282148)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 149813
<OVERDIST-NET-GAINS-PRIOR> 1046418
<GROSS-ADVISORY-FEES> 404851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 979126
<AVERAGE-NET-ASSETS> 11751776
<PER-SHARE-NAV-BEGIN> 19.75
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> (1.52)
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.11
<EXPENSE-RATIO> 2.42
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001019290
<NAME> PIONEER WORLD EQUITY FUND
<SERIES>
<NUMBER> 003
<NAME> PIONEER WORLD EQUITY FUND CLASS C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 32127766
<INVESTMENTS-AT-VALUE> 38690826
<RECEIVABLES> 655348
<ASSETS-OTHER> 2538
<OTHER-ITEMS-ASSETS> 459561
<TOTAL-ASSETS> 39808273
<PAYABLE-FOR-SECURITIES> 737879
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 888683
<TOTAL-LIABILITIES> 1626562
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35446990
<SHARES-COMMON-STOCK> 102874
<SHARES-COMMON-PRIOR> 63921
<ACCUMULATED-NII-CURRENT> 187983
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 3456271
<ACCUM-APPREC-OR-DEPREC> 6003009
<NET-ASSETS> 38181711
<DIVIDEND-INCOME> 617862
<INTEREST-INCOME> 89900
<OTHER-INCOME> 0
<EXPENSES-NET> 795517
<NET-INVESTMENT-INCOME> (87755)
<REALIZED-GAINS-CURRENT> (2357249)
<APPREC-INCREASE-CURRENT> (1418208)
<NET-CHANGE-FROM-OPS> (3863212)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1254
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 695909
<NUMBER-OF-SHARES-REDEEMED> 657018
<SHARES-REINVESTED> 62
<NET-CHANGE-IN-ASSETS> (6282148)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 149813
<OVERDIST-NET-GAINS-PRIOR> 1046418
<GROSS-ADVISORY-FEES> 404851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 979126
<AVERAGE-NET-ASSETS> 1625507
<PER-SHARE-NAV-BEGIN> 19.77
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> (1.59)
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.13
<EXPENSE-RATIO> 2.37
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Trustees of
Pioneer World Equity Fund:
In planning and performing our audit of the financial statements of Pioneer
World Equity Fund for the year ended March 31, 1999, we considered its internal
control structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, and
not to provide assurance on the internal control structure.
The management of Pioneer World Equity Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgments by management are required to access the expected
benefits and related costs of internal control structure policies and
structures. The objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are excluded in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that effectiveness of the design
and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
March 31, 1999.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/ Arthur Andersen LLP
Boston, Massachusetts
May 7, 1999
