PACE International Equity Investments Class Y 

The primary objective of this investment vehicle is to achieve capital growth. It commits a minimum of 80% of its net assets, combined with any borrowed capital utilized for investment purposes, to equity securities. The fund predominantly invests in common stocks of businesses located in developed foreign countries. These companies' shares are primarily traded on exchanges in Japan, Europe, the Pacific region, and Australia, or alternatively, on U.S. securities markets. The fund's holdings may comprise both dividend-paying and non-dividend-paying common shares, as well as securities convertible into common stock, all issued by non-U.S. domiciled entities.