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PACE

Investment Objective

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 5

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 116

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 159

PACE Select Advisors Trust Prospectus Class P Shares
Page 119

PACE Select Advisors Trust Prospectus Class P Shares
Page 163

Fees and Expenses

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 5

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 116

PACE Select Advisors Trust Prospectus Class P Shares
Page 119

Purchase and Sale of Shares

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 11

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 122

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 179

PACE Select Advisors Trust Prospectus Class P Shares
Page 125

PACE Select Advisors Trust Prospectus Class P Shares
Page 185

PACE Select Advisors Trust Statement of Additional Information
Page 290

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PACE Alternative Strategies Investments Summary Prospectus Class A, Y SharesPACE Select Advisors Trust Prospectus Class A Y SharesPACE Select Advisors Trust Prospectus Class P SharesPACE Select Advisors Trust Statement of Additional InformationPACE Select Advisors Trust Semiannual ReportPACE Select Advisors Trust Annual Report

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