XML 86 R190.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Class P Prospectus | PACE® Small/Medium Co Growth Equity Investments  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PACE® Small/Medium Co Growth Equity Investments
Objective [Heading] rr_ObjectiveHeading Investment objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Capital appreciation.

Expense [Heading] rr_ExpenseHeading Fees and expenses of the fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

These tables describe the fees and expenses that you may pay if you buy and hold shares of the fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Nov. 30, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 93% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 93.00%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same.*


Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading] rr_StrategyHeading Principal strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Principal investments


The fund invests primarily in stocks of "emerging growth" companies that are believed to have potential for high future earnings growth relative to the overall market. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities issued by small/medium capitalization companies. Small/medium capitalization companies means companies with a total market capitalization within the market capitalization range of the companies in the Russell 2500® Growth Index at the time of purchase. Dividend income is an incidental consideration in the investment advisors' selection of stocks for the fund.


The fund may from time to time invest a significant portion of its assets in the stocks of companies in various economic sectors, such as technology. The fund may invest, to a limited extent, in stocks of companies with larger total market capitalizations and other securities, including securities convertible into stocks. The fund may invest up to 10% of its total assets in non-US securities, which may trade either within or outside the US.


Management process


The fund employs a "manager of managers" structure. UBS Asset Management (Americas) Inc. ("UBS AM"), the fund's manager and primary provider of investment advisory services, has the ultimate authority, subject to oversight by the fund's board, to oversee the fund's subadvisor(s) and recommend their hiring, termination and replacement, and to allocate assets among the fund's subadvisor(s). The relative value of each subadvisor's share of the fund's assets may change over time.


UBS AM's investment process begins with subadvisor selection. UBS AM's portfolio management team constructs a list of potential subadvisors based on information primarily from internal sources and the team's collective knowledge of the industry, but also supplemented by external sources. The team then focuses its research on that list to identify a small number of the most attractive candidates. This research includes analyzing the portfolio holdings and/or positioning of a subadvisor's investment strategy to understand whether the allocation of risk and the drivers of alpha are consistent with the subadvisor's investment philosophy and stated strengths. The most attractive sub-set of those subadvisors is then selected for in-depth, on-site due diligence meetings with representatives from the investment, operations and compliance groups within UBS AM. The due diligence information is then synthesized to select the most attractive candidate(s) for the fund, subject to the board's approval.


In managing the fund and overseeing the fund's subadvisor(s), UBS AM views its research process as an ongoing one, as the team continually seeks to confirm a subadvisor's investment thesis over the appropriate investment horizon. In general, UBS AM leverages its research and market knowledge to construct funds with exposure to various subadvisors that are expected, in combination, to produce the desired overall fund characteristics. UBS AM's ongoing monitoring and risk management process incorporates daily, weekly, monthly, quarterly and annual responsibilities designed to monitor the drivers of fund risk and performance at the subadvisor level and at the overall fund level. Through this process, UBS AM may adjust a fund's positioning by altering its allocation weights across subadvisors within the fund and/or by changing the specific subadvisors within the fund.


The main strategies of the subadvisors include:


•  A growth strategy that focuses on companies viewed as building their earnings power and intrinsic value.


•  A growth strategy that involves seeking to achieve competitive returns in small/medium capitalization companies by identifying unrecognized growth potential.


•  A strategy in which the subadvisor seeks to identify and exploit the perception gap that exits between a company's business strength and the market's expectation of that strength.

Risk [Heading] rr_RiskHeading Principal risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

All investments carry a certain amount of risk and the fund cannot guarantee that it will achieve its investment objective. You may lose money by investing in the fund. An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks presented by an investment in the fund are:


Equity risk: Stocks and other equity securities, and securities convertible into stocks, generally fluctuate in value more than bonds. The fund could lose all of its investment in a company's stock.


Foreign investing risk: The value of the fund's investments in foreign securities may fall due to adverse political, social and economic developments abroad and due to decreases in foreign currency values relative to the US dollar. Investments in foreign government bonds involve special risks because the fund may have limited legal recourse in the event of default. Also, foreign securities are sometimes less liquid and more difficult to sell and to value than securities of US issuers. These risks are greater for investments in emerging market issuers. In addition, investments in emerging market issuers may decline in value because of unfavorable foreign government actions, greater risks of political instability or the absence of accurate information about emerging market issuers.


Limited capitalization risk: The risk that securities of smaller capitalization companies tend to be more volatile and less liquid than securities of larger capitalization companies. This can have a disproportionate effect on the market price of smaller capitalization companies and affect the fund's ability to purchase or sell these securities. In general, smaller capitalization companies are more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.


Management risk: The risk that the investment strategies, techniques and risk analyses employed by UBS AM and/or a subadvisor may not produce the desired results.


Market risk: The risk that the market value of the fund's investments may fluctuate, sometimes rapidly or unpredictably, as the stock and bond markets fluctuate. Market risk may affect a single issuer, industry, or sector of the economy, or it may affect the market as a whole. Moreover, changing market, economic and political conditions in one country or geographic region could adversely impact market, economic and political conditions in other countries or regions.


Multi-manager risk: The investment styles and strategies of the fund's subadvisors may not complement each other as expected by the fund's manager. The same security may be held by different subadvisors, or may be acquired by one subadvisor while another subadvisor of the fund decides to sell the same security. Subadvisors may have different views on the market causing them to make different investment decisions. For example, a subadvisor may determine that it is appropriate to take a temporary defensive position in short-term cash instruments at a time when another subadvisor deems it appropriate to maintain or increase market exposure. Because each subadvisor independently places trades for the fund, the fund may incur higher brokerage costs than would be the case if the fund only had one subadvisor. In addition, UBS AM may be subject to potential conflicts of interests in allocating fund assets because it pays different fees to the subadvisors which could impact its revenues.


Sector risk: Because the fund may invest a significant portion of its assets in the stocks of companies in particular economic sectors, economic changes adversely affecting such a sector may have more of an impact on the fund's performance than another fund having a broader range of investments.

Risk Lose Money [Text] rr_RiskLoseMoney You may lose money by investing in the fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Risk/return bar chart and table


The performance information that follows shows the fund's performance information in a bar chart and an average annual total returns table. The bar chart does not reflect the maximum annual PACE Select Advisors Program fee or any similar fee charged by other advisory programs; if it did, the total returns shown would be lower. The information provides some indication of the risks of investing in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual total returns compare with those of a broad measure of market performance. The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. This may be particularly true given that other subadvisors were responsible for managing portions of the fund's assets during previous periods. Riverbridge Partners, LLC ("Riverbridge") assumed day-to-day management of a portion of the fund's assets on October 1, 2005. LMCG Investments, LLC ("LMCG") and Timpani Capital Management LLC ("Timpani") each assumed day-to-day management of a separate portion of the fund's assets on November 25, 2013. Updated performance for the fund is available at www.ubs.com/us-mutualfundperformance.


After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The information provides some indication of the risks of investing in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual total returns compare with those of a broad measure of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.ubs.com/us-mutualfundperformance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading PACE Small/Medium Co Growth Equity Investments Annual Total Returns of Class P Shares
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the maximum annual PACE Select Advisors Program fee or any similar fee charged by other advisory programs; if it did, the total returns shown would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Total return January 1—September 30, 2017: 16.94%
Best quarter during calendar years shown—2Q 2009: 20.64%
Worst quarter during calendar years shown—4Q 2008: (26.31)%

Year to Date Return, Label rr_YearToDateReturnLabel Total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.94%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter during calendar years shown
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.64%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter during calendar years shown
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (26.31%)
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (Index reflects no deduction for fees, expenses or taxes.)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Caption rr_AverageAnnualReturnCaption Average annual total returns (for the periods ended December 31, 2016)
Class P Prospectus | PACE® Small/Medium Co Growth Equity Investments | Russell 2500 Growth Index (Index reflects no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 9.73%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 13.88%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 8.24%
Class P Prospectus | PACE® Small/Medium Co Growth Equity Investments | Class P  
Risk/Return: rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none [1]
Maximum deferred sales charge (load) rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses (includes administration fee of 0.10%) rr_OtherExpensesOverAssets 0.41%
Total annual fund operating expenses rr_ExpensesOverAssets 1.11%
Management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets 0.03% [2]
Total annual fund operating expenses after fee waiver and/or expense reimbursements rr_NetExpensesOverAssets 1.08% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 110 [3]
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 350 [3]
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 609 [3]
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,349 [3]
Annual Return 2007 rr_AnnualReturn2007 16.21%
Annual Return 2008 rr_AnnualReturn2008 (43.74%)
Annual Return 2009 rr_AnnualReturn2009 40.23%
Annual Return 2010 rr_AnnualReturn2010 28.69%
Annual Return 2011 rr_AnnualReturn2011 (2.00%)
Annual Return 2012 rr_AnnualReturn2012 16.79%
Annual Return 2013 rr_AnnualReturn2013 38.88%
Annual Return 2014 rr_AnnualReturn2014 1.22%
Annual Return 2015 rr_AnnualReturn2015 (2.12%)
Annual Return 2016 rr_AnnualReturn2016 3.19%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 3.19% [4]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.64% [4]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.72% [4]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Aug. 24, 1995
Class P Prospectus | PACE® Small/Medium Co Growth Equity Investments | Class P | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 3.19% [4]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.82% [4]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.02% [4]
Class P Prospectus | PACE® Small/Medium Co Growth Equity Investments | Class P | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.81% [4]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.07% [4]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.16% [4]
[1] Class P shares held through the PACE Select Advisors Program are subject to a maximum Program fee of 2.50%. Class P shares held through other advisory programs also may be subject to a program fee.
[2] The fund and UBS Asset Management (Americas) Inc. ("UBS AM") have entered into a written fee waiver/expense reimbursement agreement pursuant to which UBS AM is contractually obligated to waive its management fees and/or reimburse expenses so that the fund's ordinary total operating expenses through November 30, 2018 (excluding dividend expense, borrowing costs, and interest expense relating to short sales, and expenses attributable to investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses) would not exceed 1.08% for Class P. "Management fee waiver/expense reimbursements" are based on estimated amounts for the current fiscal year. The fund has agreed to repay UBS AM for any waived fees/reimbursed expenses to the extent that it can do so over the following three fiscal years without causing the fund's expenses in any of those three years to exceed this expense cap and that UBS AM has not waived the right to do so. The fee waiver/expense reimbursement agreement may be terminated by the fund's board at any time and also will terminate automatically upon the expiration or termination of the fund's advisory contract with UBS AM. Upon termination of the agreement, however, UBS AM's three year recoupment rights will survive.
[3] Except that the expenses reflect the effects of the fund's fee waiver/expense reimbursement agreement for the first year only.
[4] Class P shares do not bear initial or contingent deferred sales charges or ongoing 12b-1 service and distribution fees, but Class P shares held through advisory programs may be subject to a program fee, which, if included, would have reduced performance.