0001104659-13-085728.txt : 20131119 0001104659-13-085728.hdr.sgml : 20131119 20131119152937 ACCESSION NUMBER: 0001104659-13-085728 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20131119 DATE AS OF CHANGE: 20131119 EFFECTIVENESS DATE: 20131119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PACE SELECT ADVISORS TRUST CENTRAL INDEX KEY: 0000930007 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-87254 FILM NUMBER: 131229863 BUSINESS ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: 12TH FLOOR 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-821-3000 MAIL ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: 12TH FLOOR 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: UBS PACE SELECT ADVISORS TRUST DATE OF NAME CHANGE: 20020716 FORMER COMPANY: FORMER CONFORMED NAME: PAINEWEBBER PACE SELECT ADVISORS TRUST DATE OF NAME CHANGE: 19980212 FORMER COMPANY: FORMER CONFORMED NAME: MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST DATE OF NAME CHANGE: 19941212 0000930007 S000002696 PACE Government Securities Fixed Income Investments C000007349 Class P PCGTX C000007350 Class A PFXAX C000007352 Class C PFXCX C000007353 Class Y PFXYX 0000930007 S000002697 PACE Intermediate Fixed Income Investments C000007354 Class P PCIFX C000007355 Class A PIFAX C000007357 Class C PIICX C000007358 Class Y PIFYX 0000930007 S000002698 PACE Strategic Fixed Income Investments C000007359 Class P PCSIX C000007360 Class A PBNAX C000007362 Class C PBNCX C000007363 Class Y PSFYX 0000930007 S000006015 PACE High Yield Investments C000016533 Class A PHIAX C000016535 Class C PHYCX C000016536 Class Y PHDYX C000016537 Class P PHYPX 497 1 a13-23121_2497.htm 497

 

1900 K Street, NW

Washington, DC 20006-1110

+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

 

November 19, 2013

 

 

 

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, D.C. 20549

 

 

Re:

PACE Select Advisors Trust (the “Registrant”)

 

File Nos. 033-87254 and 811-08764

 

Ladies and Gentlemen:

 

Electronically transmitted for filing pursuant to Rule 497(e) under the Securities Act of 1933, as amended (“1933 Act”), are exhibits containing interactive data format risk/return summary information relating to PACE® Government Securities Fixed Income Investments, PACE® Intermediate Fixed Income Investments, PACE® Strategic Fixed Income Investments and PACE® High Yield Investments (each a “Fund” and together the “Funds”).  The interactive data filing relates to the supplement to the Funds’ prospectuses (“Prospectuses”) filed with the Securities and Exchange Commission on behalf of the Funds pursuant to Rule 497(e) of the 1933 Act on October 31, 2013.

 

No fee is required in connection with this filing.  Please direct any questions concerning the filing to the undersigned at 202.261.3377 or to Eric Sanders, Associate General Counsel, UBS Global Asset Management (Americas) at 212.882.5546.

 

Very truly yours,

 

 

 

/s/ John M. Thornton

 

 

 

John M. Thornton

 

 

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Government Securities Fixed Income Investments PCGTX PFXAX PFXCX PFXYX <p align="left" style="margin:0pt 0pt 0pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;">Prospectus &amp; SAI Supplement</font> </p> <br/><p align="left" style="margin:0pt 0pt 0pt 0pt;"> <font style="font-size:26pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">PACE<sup>&#174;</sup> Government Securities Fixed Income Investments</font> </p> <br/><p align="left" style="margin:9.9496pt 0pt 29.4724pt 0pt;"> <font style="font-size:12pt; font-family: Arial, Helvetica;"><b>Supplement to the prospectuses relating to Class A, 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, 2012, as supplemented to date</b></font> </p> <br/><p align="left" style="margin:0pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">Effective on or about November 28, 2013, the Prospectuses and SAI are hereby revised as follows:</font> </p> <p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The sections captioned (i) "PACE Government Securities Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 5 of the Multi-Class Prospectus and page 7 of the Class P Prospectus, and (ii) "More information about the funds&#8212;PACE Government Securities Fixed Income Investments" and sub-headed "Principal investments" beginning on page 68 of the Multi-Class Prospectus and page 67 of the Class P Prospectus, are revised by replacing the first sentence of the first paragraph of each section with the following:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund invests in US government bonds and other bonds of varying maturities, but normally limits its portfolio "duration" to within +/- 50% of the effective duration of the fund's benchmark index, Barclays US Mortgage-Backed Securities Index, as calculated by the investment advisor, which as of June 30, 2013 was approximately 4.4 years.</font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The section captioned "PACE Government Securities Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 5 of the Multi-Class Prospectus and page 7 of the Class P Prospectus is revised by replacing the third and fourth paragraphs of each section in their entirety with the following:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund also may invest in investment grade bonds of non-government issuers, including those backed by mortgages or other assets (or unrated bonds of equivalent quality).</font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund may invest in "to be announced" or "TBA" securities, which are mortgage-backed securities that usually are traded on a forward commitment basis with an approximate principal amount and no defined maturity date, issued or guaranteed by US government agencies and instrumentalities. The fund also may engage in TBA and Treasury "roll" transactions. A TBA roll transaction is a strategy whereby the investment advisor decides to sell one TBA security and buy another TBA security due at a later date (Treasury roll transactions differ in that the underlying securities are US Treasury securities). The fund also may invest in when-issued or delayed delivery bonds to increase its return, giving rise to a form of leverage.</font> </p> PACE&#174; Intermediate Fixed Income Investments PCIFX PIFAX PIICX PIFYX <p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 26pt; font-family: Times New Roman PS Std,Times New Roman PS,Times New Roman,Times;">PACE<sup>&#174;</sup> Intermediate Fixed Income Investments</font> </p> <br/><p align="left" style="margin: 9.9496pt 0pt 29.4724pt 0pt;"> <font style="font-size: 12pt; font-family: Arial,Helvetica;"><strong>Supplement to the prospectuses relating to Class A, 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, 2012, as supplemented to date</strong></font> </p> <br/><p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 10pt; font-family: Arial,Helvetica;">Effective on or about November 28, 2013, the Prospectuses and SAI are hereby revised as follows:</font> </p> <p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The section captioned "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal risks" beginning on page 9 of the Multi-Class Prospectus and page 12 of the Class P Prospectus is revised by adding the following as the final risk:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>Leverage risk associated with financial instruments:</b></font> <font style="font-size:10pt; font-family: Arial, Helvetica;">The use of financial instruments to increase potential returns may cause the fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the fund that exceed the amount originally invested.</font> </p> <p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The sections captioned (i) "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 9 of the Multi-Class Prospectus and page 11 of the Class P Prospectus, and (ii) "More information about the funds&#8212;PACE Intermediate Fixed Income Investments" and sub-headed "Principal investments" beginning on page 70 of the Multi-Class Prospectus and page 69 of the Class P Prospectus, are revised by replacing (a) the first through third sentences of the third paragraph under (i), and (b) the first through third sentences of the second paragraph under (ii), of each section with the following:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund invests in bonds of varying maturities, but normally maintains a dollar-weighted average maturity of less than ten years. It normally limits its overall portfolio "duration" to within +/- 50% of the duration of the Barclays US Intermediate Government/Credit Index, as calculated by the investment advisor, which as of June 30, 2013 was approximately 3.8 years.</font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The section captioned "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 9 of the Multi-Class Prospectus and page 11 of the Class P Prospectus is revised by adding the following after the third paragraph of that section:</b></font> </p> <br/><p align="left" style="margin: 12pt 0pt 0pt 0pt;"> <font style="font-size: 10pt; font-family: Arial, Helvetica;">The fund may invest in "to be announced" or "TBA" securities, which are mortgage-backed securities that usually are traded on a forward commitment basis with an approximate principal amount and no defined maturity date, issued or guaranteed by US government agencies and instrumentalities. The fund also may engage in TBA and <font style="font-size: 10pt; font-family: Arial, Helvetica;">Treasury "roll" transactions. A TBA roll transaction is a strategy whereby the investment advisor decides to sell one TBA security and buy another TBA security due at a later date (Treasury roll transactions differ in that the underlying securities are US Treasury securities).</font><br/> </font> </p> PACE&#174; Strategic Fixed Income Investments PCSIX PBNAX PBNCX PSFYX <p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 26pt; font-family: Times New Roman PS Std,Times New Roman PS,Times New Roman,Times;">PACE<sup>&#174;</sup> Strategic Fixed Income Investments</font> </p> <br/><p align="left" style="margin: 9.9496pt 0pt 29.4724pt 0pt;"> <font style="font-size: 12pt; font-family: Arial,Helvetica;"><strong>Supplement to the prospectuses relating to Class A, 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, 2012, as supplemented to date</strong></font> </p> <br/><p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 10pt; font-family: Arial,Helvetica;">Effective on or about November 28, 2013, the Prospectuses and SAI are hereby revised as follows:</font> </p> <p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The sections captioned (i) "PACE Strategic Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 13 of the Multi-Class Prospectus and page 15 of the Class P Prospectus, and (ii) "More information about the funds&#8212;PACE Strategic Fixed Income Investments" and sub-headed "Principal investments" beginning on page 72 of the Multi-Class Prospectus and page 71 of the Class P Prospectus are revised by replacing the first sentence of the first paragraph of each section with the following:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund invests in bonds of varying maturities, but normally limits its portfolio "duration" to within +/- 50% of the effective duration of the fund's benchmark index, Barclays US Government/Credit Index, as calculated by the investment advisor, which as of June 30, 2013 was approximately 5.6 years.</font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The section captioned "PACE Strategic Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 13 of the Multi-Class Prospectus and page 15 of the Class P Prospectus is revised by adding the following after the third paragraph of that section:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">The fund may invest in "to be announced" or "TBA" securities, which are mortgage-backed securities that usually are traded on a forward commitment basis with an approximate principal amount and no defined maturity date, issued or guaranteed by US government agencies and instrumentalities. The fund also may engage in TBA and Treasury "roll" transactions. A TBA roll transaction is a strategy whereby the investment advisor decides to sell one TBA security and buy another TBA security due at a later date (Treasury roll transactions differ in that the underlying securities are US Treasury securities).</font> </p> PACE&#174; High Yield Investments PHIAX PHYCX PHDYX PHYPX <p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 26pt; font-family: Times New Roman PS Std,Times New Roman PS,Times New Roman,Times;">PACE<sup>&#174;</sup> High Yield Investments</font> </p> <br/><p align="left" style="margin: 9.9496pt 0pt 29.4724pt 0pt;"> <font style="font-size: 12pt; font-family: Arial,Helvetica;"><strong>Supplement to the prospectuses relating to Class A, 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, 2012, as supplemented to date</strong></font> </p> <br/><p align="left" style="margin: 0pt 0pt 0pt 0pt;"> <font style="font-size: 10pt; font-family: Arial,Helvetica;">Effective on or about November 28, 2013, the Prospectuses and SAI are hereby revised as follows:</font> </p> <p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;"><b>The section captioned "PACE High Yield Investments Fund summary" and sub-headed "Management process" beginning on page 27 of the Multi-Class Prospectus and page 28 of the Class P Prospectus is revised by replacing the eighth and ninth sentences of the first paragraph of that section with the following:</b></font> </p> <br/><p align="left" style="margin:12pt 0pt 0pt 0pt;"> <font style="font-size:10pt; font-family: Arial, Helvetica;">MacKay Shields anticipates that under normal circumstances the fund's average duration will be within +/- 50% of that of the BofA Merrill Lynch Global High Yield Index, as calculated by the investment advisor, which as of June 30, 2013 was approximately 4.3 years.</font> </p> EX-101.SCH 3 ck0000930007-20131031.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 020000 - Document - Risk/Return Summary {Unlabeled} - PACE Government Securities Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020002 - Document - Risk/Return Summary {Unlabeled} - PACE Intermediate Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020004 - Document - Risk/Return Summary {Unlabeled} - PACE Strategic Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020006 - Document - Risk/Return Summary {Unlabeled} - PACE High Yield Investments link:presentationLink link:definitionLink link:calculationLink 020001 - Disclosure - Risk/Return Detail Data {Elements} - PACE Government Securities Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020003 - Disclosure - Risk/Return Detail Data {Elements} - PACE Intermediate Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020005 - Disclosure - Risk/Return Detail Data {Elements} - PACE Strategic Fixed Income Investments link:presentationLink link:definitionLink link:calculationLink 020007 - Disclosure - Risk/Return Detail Data {Elements} - PACE High Yield Investments link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 4 ck0000930007-20131031_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 ck0000930007-20131031_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 ck0000930007-20131031_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT EX-101.PRE 7 ck0000930007-20131031_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT GRAPHIC 8 g231212bci001.jpg GRAPHIC begin 644 g231212bci001.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T- M#AT5%A$8(Q\E)"(?(B$F*S7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBI MJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W M^/GZ_]H`"`$!```_`.EOO%/C*[\=ZMX>\/VVC-%IR1/NO%D#$.BGJK8ZL>U: M6G^)MQ\6V-O:_;'\NWN[0$P-)V0DL2">V0,UUV:,T9K#\8:Y<^'_#L MFHVD<3RI-"@64$KAY%4]".Q-;F:,T9HS65'JL[^+KC2"D?D16$=R&P=VYI'4 MC.<8PH[>M:M>?^'O^2U^+?\`KVMO_1:5N?$*TCO/`6LK)_RRM6F0]U9/F4C\ M16+-K<^L?V+IL^MC2(9=+BOKV=9ECEE+C"HC'[O(8DCG@>M3:;>)HWBNQL+/ MQ&=6T[4@\?E3W0GDMY54N"&SNVD*PP>^/6GZ=%<^-[B^U&;4[^STZ"Y>VLX+ M*X,.\(<-(Y7DDMG`Z`"LKQA;ZYIO@#5+74IQJ"07EL;&X9OWLL?FH0LG'W@> M,]^M:FJ^'-870;O5KCQ)J,>KQ0O.HMYBEO&R@L$$?0KQC)R3UJ/4_$LFI/H> MD_VDFE#4+%;Z]NO-$;I'@82,GHS,>O4`&HX]3A\-^(]+AL?$+ZKIVIS?99H9 M[T7$D,I&4=3DG!(((Z?O#F60;2<=.,X]2:[G3K/^S[&. 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PACE Intermediate Fixed Income Investments
PACE® Intermediate Fixed Income Investments

PACE® Intermediate Fixed Income Investments


Supplement to the prospectuses relating to Class A, 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, 2012, as supplemented to date


Effective on or about November 28, 2013, the Prospectuses and SAI are hereby revised as follows:

The sections captioned (i) "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 9 of the Multi-Class Prospectus and page 11 of the Class P Prospectus, and (ii) "More information about the funds—PACE Intermediate Fixed Income Investments" and sub-headed "Principal investments" beginning on page 70 of the Multi-Class Prospectus and page 69 of the Class P Prospectus, are revised by replacing (a) the first through third sentences of the third paragraph under (i), and (b) the first through third sentences of the second paragraph under (ii), of each section with the following:


The fund invests in bonds of varying maturities, but normally maintains a dollar-weighted average maturity of less than ten years. It normally limits its overall portfolio "duration" to within +/- 50% of the duration of the Barclays US Intermediate Government/Credit Index, as calculated by the investment advisor, which as of June 30, 2013 was approximately 3.8 years.


The section captioned "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal investments" beginning on page 9 of the Multi-Class Prospectus and page 11 of the Class P Prospectus is revised by adding the following after the third paragraph of that section:


The fund may invest in "to be announced" or "TBA" securities, which are mortgage-backed securities that usually are traded on a forward commitment basis with an approximate principal amount and no defined maturity date, issued or guaranteed by US government agencies and instrumentalities. The fund also may engage in TBA and Treasury "roll" transactions. A TBA roll transaction is a strategy whereby the investment advisor decides to sell one TBA security and buy another TBA security due at a later date (Treasury roll transactions differ in that the underlying securities are US Treasury securities).

The section captioned "PACE Intermediate Fixed Income Investments Fund summary" and sub-headed "Principal risks" beginning on page 9 of the Multi-Class Prospectus and page 12 of the Class P Prospectus is revised by adding the following as the final risk:


Leverage risk associated with financial instruments: The use of financial instruments to increase potential returns may cause the fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the fund that exceed the amount originally invested.