PIONEER INDO-ASIA FUND
NSAR-B, 1998-12-28
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SIGNATURE   ROBERT P. NAULT                              
TITLE       ASST. SECRETARY     
 


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                    REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS



To the Board of Trustees of
Pioneer Indo-Asia Fund:

In planning and  performing  our audit of the  financial  statements  of Pioneer
Indo-Asia  Fund for the year ended October 31, 1998, 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  Indo-Asia Fund is responsible  for  establishing  and
maintaining an internal control  structure.  In fulfilling this  responsibility,
estimates  and  judgements  by  management  are  required to assess the expected
benefits  and  related  costs  of  internal  control   structure   policies  and
procedures.  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 executed 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 the  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
October 31, 1998.

This report is intended solely for the information and use of management and the
Securities and Exchange Commission.



/s/Arthur Andersen LLP


Boston, Massachusetts
December 4, 1998





Pioneer Indo-Asia Fund
10/31/98 NSAR
Responses to Sub-Items 77C and 77D

Sub-Item 77C:  Submission of matters to a vote of security holders (Y)

(a) The registrant held a special meeting of shareholders on Tuesday,  September
15, 1998.

(b)  Proposal  2  from  the   registrant's   definitive  proxy  statement  filed
electronically  with the Commission on July 20, 1998 (Accession No.  0001016964-
98-000083)  (the "Proxy  Statement")  is  incorporated  herein by  reference  in
response to this sub-item.

(c) Proposals  1,3 and 4 from the Proxy  Statement  are  incorporated  herein by
reference in response to this sub-item.  The results of shareholder voting under
the caption "Results of Shareowner  Meeting" from the  registrant's  October 31,
1998 annual report to shareholders filed  electronically  with the Commission on
December 23, 1998 (Accession No. 0000921447-98-000011) are also incorporated
herein by reference in response to this sub-item.

(d) None.


Sub-Item 77D:  Policies with respect to security investments (Y)

(a) None.

(b) None.

(c) None.

(d) None.

(e) None.

(f) None.

(g) The registrant's  policy on investing  primarily in the securities of Indian
issuers was changed with shareholder approval.  See response to sub-item 77C(c).
Effective  October 1, 1998,  the registrant  invests  primarily in securities of
Asian issuers, including those in India.


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