PACE International Equity Investments (PWGAX) is an open-end mutual fund that seeks long-term capital appreciation through a diversified portfolio of equity securities issued by companies primarily located outside the United States. The fund invests at least 80% of its net assets in large-cap international stocks from developed and emerging markets, including blend-style securities across sectors such as financial services, utilities, consumer defensive, technology, health care, and consumer discretionary; top holdings feature Banco Santander SA, SSE PLC, British American Tobacco PLC, Lloyds Banking Group PLC, and Allianz SE, with significant geographic allocations to Japan (20.63%), the United Kingdom (13.14%), North America (11.05%), and Europe excluding the UK (6.36%). It offers multiple share classes, including Class A (PWGAX), Class P2 (PWITX), Class Y (PWIYX), and Class P (PCIEX), with net expense ratios ranging from approximately 1.07% to 1.45% and assets under management exceeding $750 million as of recent data.
Part of the PACE Select Advisors Trust, the fund employs a multi-manager approach leveraging external sub-advisers for security selection and portfolio construction, categorized in the Foreign Large Blend segment with a benchmark of the MSCI EAFE NR USD index. Headquartered c/o UBS Asset Management (Americas) LLC in New York, New York, United States, with legal domicile in Wilmington, Delaware since its inception around 2012, it targets institutional and retail investors seeking international equity exposure with daily pricing and no front-end or deferred loads on certain classes.
In recent developments, the fund continues to operate under the UBS Asset Management umbrella following the broader integration of PACE Select Funds into UBS's offerings, maintaining its multi-manager structure amid ongoing portfolio rebalancing to emphasize utilities and financials as of late 2025. No major acquisitions, funding rounds, or sub-adviser changes have been publicly announced in the last 1-2 years, reflecting stable operations focused on repeatable investment processes amid volatile global markets.