XML 36 R64.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PACE® Small/Medium Co Value 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. You may qualify for sales charge discounts on purchases of Class A shares if you or your family invest, or agree to invest in the future, at least $50,000 in the UBS family of funds. More information about these and other discounts and waivers, as well as eligibility requirements for each share class, is available from your financial advisor and in "Managing your fund account" on page 121 of the prospectus and in "Reduced sales charges, additional purchase, exchange and redemption information and other services" on page 219 of the fund's Statement of Additional Information. Different intermediaries and financial professionals may make available different sales charge waivers or discounts. These variations are described in Appendix A beginning on page A-1 of this prospectus (Intermediary-Specific Sales Charge Waivers and Discounts).
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)
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 60% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 60.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees "Other expenses" include "Acquired fund fees and expenses," which were less than 0.01% of the average net assets of the fund. Since the "Acquired fund fees and expenses" are not directly borne by the fund, they are not reflected in the fund's financial statements, and therefore the amounts listed in "Total annual fund operating expenses" and "Total annual fund operating expenses after fee waiver and/or expense reimbursements" may differ from those presented in the financial highlights.
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 unless otherwise stated. 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 companies that are believed to be undervalued or overlooked in the marketplace. These stocks also generally have price-to-earnings ("P/E") ratios below the market average. 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® Value Index at the time of purchase. The fund invests only in stocks that are traded on major exchanges or the over-the-counter market.


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 financials. 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 "value equity" strategy in which the subadvisor targets smaller capitalization companies with sustainable business models selling below their value.


•  A strategy that employs a two-pronged investment approach that utilizes quantitative screening and fundamental research to identify value companies with strong potential for positive earnings revisions.


•  A strategy that employs a fundamental, bottom-up, research-driven investment style and follows a disciplined investment process to identify high-quality companies.


•  A "deep value" strategy that seeks long-term total investment return through capital appreciation, generally investing in common stocks of US companies that are considered to be undervalued.
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.


Portfolio turnover risk: The fund may engage in frequent trading, which can result in high portfolio turnover. A high portfolio turnover rate involves greater expenses to the fund, including transaction costs, and is likely to generate more taxable short-term gains for shareholders, which may have an adverse impact on performance.


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 sales charges of the fund's Class A shares; 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. Sapience Investments, LLC ("Sapience") assumed day-to-day management of a separate portion of the fund's assets on October 20, 2016. The Sapience portfolio management team (as employees of a different subadvisor) assumed responsibility for managing a separate portion of the fund's assets on October 1, 2005. On May 28, 2009, Systematic Financial Management, L.P. ("Systematic") assumed responsibility for managing a portion of the fund's assets. Kayne Anderson Rudnick Investment Management, LLC ("Kayne Anderson Rudnick") assumed day-to-day management of a separate portion of the fund's assets on March 6, 2012. Huber Capital Management LLC ("Huber Capital") assumed day-to-day management of a separate portion of the fund's assets on January 24, 2017. 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-advantaged arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns for other classes will vary from the Class A shares' after-tax returns shown.
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 Value Equity Investments Annual Total Returns of Class A Shares*
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the sales charges of the fund's Class A shares; if it did, the total returns shown would be lower.
Bar Chart Footnotes [Text Block] rr_BarChartFootnotesTextBlock

*  The returns shown above are for Class A. Previously, the returns were shown for Class C, a class of shares the fund ceased offering on July 12, 2018 and that is no longer offered through this prospectus. Class A has substantially similar annual returns to Class C because Class A is invested in the same portfolio of securities Class C was previously invested in. Class A's returns may differ from Class C's returns to the extent that Class A does not have the same expenses Class C had previously.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Total return January 1 - September 30, 2018: 5.67%
Best quarter during calendar years shown—2Q 2009: 27.41%
Worst quarter during calendar years shown—4Q 2008: (27.66)%
Year to Date Return, Label rr_YearToDateReturnLabel Total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 5.67%
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 27.41%
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 (27.66%)
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-advantaged arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns for other classes will vary from the Class A shares' after-tax returns shown.
Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] rr_PerformanceTableFootnotesReasonPerformanceInformationForClassDifferentFromImmediatelyPrecedingPeriod The returns shown above are for Class A. Previously, the returns were shown for Class C, a class of shares the fund ceased offering on July 12, 2018 and that is no longer offered through this prospectus. Class A has substantially similar annual returns to Class C because Class A is invested in the same portfolio of securities Class C was previously invested in. Class A's returns may differ from Class C's returns to the extent that Class A does not have the same expenses Class C had previously.
Caption rr_AverageAnnualReturnCaption Average annual total returns (figures reflect sales charges) (for the periods ended December 31, 2017)
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments | Russell 2500 Value Index (Index reflects no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 10.36% [1]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 13.27% [1]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 8.82% [1]
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments | CLASS A  
Risk/Return: rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.50%
Maximum deferred sales charge (load) (as a % of the lesser of the offering price or the redemption price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Exchange fee rr_ExchangeFee none
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses (includes administration fee of 0.10%) rr_OtherExpensesOverAssets 0.26% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 1.21%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A shares if you or your family invest, or agree to invest in the future, at least $50,000 in the UBS family of funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 667
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 913
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,178
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,935
Annual Return 2008 rr_AnnualReturn2008 (35.33%)
Annual Return 2009 rr_AnnualReturn2009 35.81%
Annual Return 2010 rr_AnnualReturn2010 22.99%
Annual Return 2011 rr_AnnualReturn2011 (8.26%)
Annual Return 2012 rr_AnnualReturn2012 18.22%
Annual Return 2013 rr_AnnualReturn2013 35.39%
Annual Return 2014 rr_AnnualReturn2014 5.47%
Annual Return 2015 rr_AnnualReturn2015 (3.17%)
Annual Return 2016 rr_AnnualReturn2016 22.67%
Annual Return 2017 rr_AnnualReturn2017 9.19%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 3.19% [1]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 11.84% [1]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.45% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Nov. 27, 2000
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments | CLASS A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (0.39%) [1]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.68% [1]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.90% [1]
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments | CLASS A | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 3.04% [1]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.52% [1]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.59% [1]
Class A & Y Prospectus | PACE® Small/Medium Co Value Equity Investments | CLASS Y  
Risk/Return: rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a % of the lesser of the offering price or the redemption price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Exchange fee rr_ExchangeFee none
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 0.19% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 0.89%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 91
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 284
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 493
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,096
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 9.32% [1]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 13.26% [1]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 8.27% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 20, 2000
[1] The returns shown above are for Class A. Previously, the returns were shown for Class C, a class of shares the fund ceased offering on July 12, 2018 and that is no longer offered through this prospectus. Class A has substantially similar annual returns to Class C because Class A is invested in the same portfolio of securities Class C was previously invested in. Class A's returns may differ from Class C's returns to the extent that Class A does not have the same expenses Class C had previously.
[2] "Other expenses" include "Acquired fund fees and expenses," which were less than 0.01% of the average net assets of the fund. Since the "Acquired fund fees and expenses" are not directly borne by the fund, they are not reflected in the fund's financial statements, and therefore the amounts listed in "Total annual fund operating expenses" and "Total annual fund operating expenses after fee waiver and/or expense reimbursements" may differ from those presented in the financial highlights.