Pioneer launches Emerging Markets Local Currency Debt Fund

By Toni Weeks

San Diego, Dec. 17 - Pioneer Series Trust VII announced in a 497K filing with the Securities and Exchange Commission that it has launched its new emerging markets fund, the Emerging Markets Local Currency Debt Fund.

The fund seeks total return through a combination of income and capital appreciation by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities denominated in emerging market currencies. The fund may invest up to 20% of its total assets in securities of issuers in any developed country.

The portfolio managers are Greg Saichin and Hakan Aksoy.

The fund has launched with class A, class C and class Y shares. The ticker symbols are LCEMX, LCECX and LCYEX, respectively.

Shareowner fees will include a 4.5% maximum sales charge for class A shares and a 1% maximum deferred sales charge for class C shares.

Management fees are 0.7%. Including a fee waiver agreement, total annual fund operating expenses are expected to be 1.2% for class A, 2.1% for class C and 0.85% for class Y shares.

Boston-based Pioneer Investment Management, Inc. will serve as the investment manager.

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