-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CqDpWWaZRjQjuCjbEK4DpsijqVpdXRH+/g03rmAdYj0mtZ3V/83peA7auwL8Oz+F 5MHVoBClv1yIdjxSK779EQ== 0000899140-99-000386.txt : 19990625 0000899140-99-000386.hdr.sgml : 19990625 ACCESSION NUMBER: 0000899140-99-000386 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAINEWEBBER PACE SELECT ADVISORS TRUST CENTRAL INDEX KEY: 0000930007 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-87254 FILM NUMBER: 99638378 BUSINESS ADDRESS: STREET 1: C/O MITCHELL HUTCHINS ASSET MGMT INC STREET 2: 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2127132000 MAIL ADDRESS: STREET 1: C/O MITCHELL HUTCHINS ASSET MGMT INC STREET 2: 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST DATE OF NAME CHANGE: 19941212 FORMER COMPANY: FORMER CONFORMED NAME: PAINEWEBBER CONSULTING FUND PRODUCT DATE OF NAME CHANGE: 19940914 497 1 PROSPECTUS SUPPLEMENT PAINEWEBBER PACE SELECT ADVISORS TRUST Supplement to Prospectus dated December 1, 1998 Effective June 1, 1999 The following is added to the end of the second paragraph of the section entitled "PACE International Equity Investments" on page 19 of the Prospectus under the caption entitled "Investment Objectives and Policies of the Portfolios and Risk Factors": The Portfolio may also invest in convertible securities that are rated below investment grade but no lower than B by Moody's or S&P or, if unrated, determined to be of comparable quality by the Adviser, except that these investments in lower-rated convertible securities, together with the Portfolio's investments in emerging markets, may not exceed 10% of the Portfolio's total assets. In addition, the following replaces the first paragraph of the section entitled "Lower Rated Convertible Securities" on page 30 of the Prospectus under the caption entitled "Other Investment Policies and Risk Factors": PACE Large Company Value Equity Investments may invest up to 10% of its total assets in convertible securities that are rated below investment grade but no lower than Ba by Moody's or BB by S&P, or if not rated by a NRSRO, determined by its Adviser to be of comparable quality. PACE Strategic Fixed Income Investments may invest up to 20% of its total assets in convertible securities that are rated below investment grade but no lower than B by Moody's or S&P, or if not rated by a NRSRO, determined by its Adviser to be of comparable quality. PACE International Emerging Markets Equity Investments may invest up to 10% of its total assets in convertible securities that are rated below investment grade but no lower than C by S&P, or if not rated by a NRSRO, determined by its Adviser to be of comparable quality. PACE International Equity Investments may invest up to 10% of its total assets, together with its investments in emerging markets, in convertible securities that are rated below investment grade but no lower than B by Moody's or S&P, or if not rated by a NRSRO, determined by its Adviser to be of comparable quality. Convertible securities rated below investment grade are commonly referred to as "junk bonds" and are deemed by the NRSROs to be predominantly speculative and may involve significant risk exposure to adverse conditions. -----END PRIVACY-ENHANCED MESSAGE-----