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- PACE International Equity Investments Class P (PCIEX) is a mutual fund series of PACE Select Advisors Trust that seeks capital appreciation by investing primarily in equity securities of companies domiciled in developed foreign countries outside the United States, principally traded in Japanese, European, Pacific, and Australian securities markets or U.S. securities markets; such investments include common stocks, which may or may not pay dividends, and securities convertible into common stocks. The fund maintains a diversified portfolio typically comprising around 379 to 393 holdings, with top positions in financial services, utilities, and large blend stocks such as Lloyds Banking Group PLC, Enel SpA, Allianz SE, Banco Santander, DBS Group Holdings Ltd, and others; it belongs to the Foreign Large Blend category, with total assets under management of approximately $692 million to $955 million, an adjusted expense ratio of 1.45%, a TTM yield of 2.08%, and a portfolio turnover of 37%. As part of the PACE Select Advisors family managed by UBS Asset Management (Americas) Inc., headquartered at 787 Seventh Avenue, New York, New York, the fund operates with a minimum initial investment of $10,000 and targets institutional and high-net-worth investors seeking exposure to international developed markets.
UBS Asset Management (Americas) Inc. serves as the investment manager for PACE Select Advisors Trust, overseeing subadvisors who implement the fund's strategies under board oversight; while specific subadvisors for PCIEX are not detailed in recent disclosures, the multi-manager approach allocates assets to achieve capital appreciation consistent with the fund's objectives. The Trust, an open-end investment company, is an indirect subsidiary of UBS Group AG and offers multiple share classes including Class P (no-load), with PCIEX featuring a minimum subsequent investment of $500.
In recent developments, PACE Select Advisors Trust has expanded its subadvisor roster across funds, including appointments such as Fulcrum Asset Management LLP to PACE Alternative Strategies Investments in July 2024 and ARGA Investment Management, LP to related emerging markets strategies, reflecting ongoing strategic enhancements to portfolio management capabilities. The PCIEX fund itself shows portfolio evolution with new positions like lululemon athletica inc. and adjustments in holdings such as Canadian Pacific Kansas City Limited and BAE Systems plc, alongside stable operations in its core international equity focus as of late 2025 filings. No major acquisitions, funding rounds, or reorganizations specific to PCIEX were reported in the last 1-2 years, maintaining continuity in its developed markets mandate amid UBS's broader asset management oversight.