497

	1775 I Street, N.W. Washington, DC 20006-2401 +1 202 261 3300 Main +1 202 261 3333 Fax www.dechert.com
	JOHN M. THORNTON
	john.thornton@dechert.com
	+1 202 261 3377 Direct
	+1 202 261 3077 Fax

October 25, 2012

VIA EDGAR

Filing Desk

Securities and Exchange Commission

Office of Filings and Information Services

Branch of Registrations and Examinations

Mail Stop 0-25

100 F Street, NE

Washington, DC 20549

Re:	PACE Select Advisors Trust (“Registrant”)
	File Nos. 33-87254 and 811-08764

Ladies and Gentlemen:

Pursuant to Rule 497(e) under the Securities Act of 1933, as amended (“1933 Act”), we hereby submit for filing exhibits containing interactive data format risk/return summary information for PACE® International Fixed Income Investments (the “Fund”).  The interactive data filing relates to the supplement to the Fund’s prospectuses (“Prospectuses”) filed with the Securities and Exchange Commission on behalf of the Fund pursuant to Rule 497(e) of the 1933 Act on October 4, 2012.

No fees are required in connection with this filing.  If you have any questions or comments, please contact the undersigned at 202.261.3377 or Eric Sanders, Associate General Counsel, UBS Global Asset Management (Americas) Inc., at 212.882.5546.

Very truly yours,

/s/ J. Matthew Thornton

J. Matthew Thornton

XML

PACE International Fixed Income Investments (Prospectus Summary): | PACE International Fixed Income Investments

PACE® International Fixed Income Investments  

PACE Select

Prospectus & SAI Supplement

PACE® Select Advisors Trust

PACE® International Fixed Income Investments

Supplement to the prospectuses relating to Class A, Class B, Class C and Class Y shares (the "Multi-Class Prospectus") and Class P shares (the "Class P Prospectus") (collectively, the "Prospectuses") and the Statement of Additional Information ("SAI"), each dated November 28, 2011, as amended to date

October 4, 2012

Dear Investor,

The purpose of this supplement is to update information regarding PACE International Fixed Income Investments ("International Fixed Income Investments") and PACE International Equity Investments ("International Equity Investments") (each, a "fund"), separate series of PACE Select Advisors Trust (the "Trust").

With respect toInternational Fixed Income Investments, this supplement updates information regarding the fund's investment policies with respect to investments in emerging market and high yield bonds. Previously, the fund was permitted to invest up to 20% of its total assets (in the aggregate) in high yield bonds and emerging market bonds. Effective immediately, the fund may invest (i) up to 10% of its total assets in high yield bonds of issuers domiciled in developed market countries and (ii) up to 20% of its total assets in emerging market bonds (including bonds denominated in local emerging markets currencies). These changes are described in greater detail in Section I of this supplement, below.

I.  International Fixed Income Investments

Effective immediately, the Prospectuses and SAI are hereby revised as follows:

The section captioned "PACE International Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 23 of each Prospectus is revised by replacing the final sentence of the first paragraph with the following:  

The fund invests, to a limited extent, in emerging market bonds and lower rated bonds of governmental and private issuers, including bonds that are rated below investment grade.

The section captioned "PACE International Fixed Income Investments Fund summary" and sub-headed "Principal risks" beginning on page 23 of the Multi-Class Prospectus and page 24 of the Class P Prospectus is revised by inserting the following as the last paragraph of that section:  

High yield securities ("junk bonds") risk:Lower-rated securities (the issuers of which are typically in poor financial health) are subject to higher risks than investment grade securities. For example, lower-rated securities may be (1) subject to a greater risk of loss of principal and non-payment of interest (including default by the issuer); (2) subject to greater price volatility; and (3) less liquid than investment grade securities. The prices of such securities may be more vulnerable to bad economic news, or even the expectation of bad news, than higher rated fixed income securities.

PLEASE BE SURE TO RETAIN THIS IMPORTANT INFORMATION FOR YOUR FUTURE REFERENCE.

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Prospectus Date

rr_ProspectusDate

Nov. 28, 2011

PACE International Fixed Income Investments (Prospectus Summary): | PACE International Fixed Income Investments

Risk/Return:

rr_RiskReturnAbstract

Risk/Return, Heading

rr_RiskReturnHeading

PACE® International Fixed Income Investments  

Supplement Text

ck0000930007_SupplementTextBlock

PACE Select

Prospectus & SAI Supplement

PACE® Select Advisors Trust

PACE® International Fixed Income Investments

Supplement to the prospectuses relating to Class A, Class B, Class C and Class Y shares (the "Multi-Class Prospectus") and Class P shares (the "Class P Prospectus") (collectively, the "Prospectuses") and the Statement of Additional Information ("SAI"), each dated November 28, 2011, as amended to date

October 4, 2012

Dear Investor,

The purpose of this supplement is to update information regarding PACE International Fixed Income Investments ("International Fixed Income Investments") and PACE International Equity Investments ("International Equity Investments") (each, a "fund"), separate series of PACE Select Advisors Trust (the "Trust").

With respect toInternational Fixed Income Investments, this supplement updates information regarding the fund's investment policies with respect to investments in emerging market and high yield bonds. Previously, the fund was permitted to invest up to 20% of its total assets (in the aggregate) in high yield bonds and emerging market bonds. Effective immediately, the fund may invest (i) up to 10% of its total assets in high yield bonds of issuers domiciled in developed market countries and (ii) up to 20% of its total assets in emerging market bonds (including bonds denominated in local emerging markets currencies). These changes are described in greater detail in Section I of this supplement, below.

I.  International Fixed Income Investments

Effective immediately, the Prospectuses and SAI are hereby revised as follows:

Investment Strategy, Heading

rr_StrategyHeading

The section captioned "PACE International Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 23 of each Prospectus is revised by replacing the final sentence of the first paragraph with the following:  

Investment Strategy, Narrative

rr_StrategyNarrativeTextBlock

The fund invests, to a limited extent, in emerging market bonds and lower rated bonds of governmental and private issuers, including bonds that are rated below investment grade.

Risk, Heading

rr_RiskHeading

The section captioned "PACE International Fixed Income Investments Fund summary" and sub-headed "Principal risks" beginning on page 23 of the Multi-Class Prospectus and page 24 of the Class P Prospectus is revised by inserting the following as the last paragraph of that section:  

Risk, Narrative

rr_RiskNarrativeTextBlock

High yield securities ("junk bonds") risk:Lower-rated securities (the issuers of which are typically in poor financial health) are subject to higher risks than investment grade securities. For example, lower-rated securities may be (1) subject to a greater risk of loss of principal and non-payment of interest (including default by the issuer); (2) subject to greater price volatility; and (3) less liquid than investment grade securities. The prices of such securities may be more vulnerable to bad economic news, or even the expectation of bad news, than higher rated fixed income securities.

Supplement Closing

ck0000930007_SupplementClosingTextBlock

PLEASE BE SURE TO RETAIN THIS IMPORTANT INFORMATION FOR YOUR FUTURE REFERENCE.

PACE International Fixed Income Investments | Class P

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

PCGLX

PACE International Fixed Income Investments | CLASS A

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

PWFAX

PACE International Fixed Income Investments | CLASS C

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

PWFCX

PACE International Fixed Income Investments | CLASS Y

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

PWFYX

XML

Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Document Type	dei_DocumentType	Other
Document Period End Date	dei_DocumentPeriodEndDate	Oct. 04, 2012
Registrant Name	dei_EntityRegistrantName	PACE SELECT ADVISORS TRUST
Central Index Key	dei_EntityCentralIndexKey	0000930007
Amendment Flag	dei_AmendmentFlag	false
Document Creation Date	dei_DocumentCreationDate	Oct. 04, 2012
Document Effective Date	dei_DocumentEffectiveDate	Oct. 04, 2012
Prospectus Date	rr_ProspectusDate	Nov. 28, 2011