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PACE

Investment Objective

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 3

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 99

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 142

PACE Select Advisors Trust Prospectus Class P Shares
Page 102

PACE Select Advisors Trust Prospectus Class P Shares
Page 146

Fees and Expenses

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 3

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 99

PACE Select Advisors Trust Prospectus Class P Shares
Page 102

Purchase and Sale of Shares

PACE Alternative Strategies Investments Summary Prospectus Class A, Y Shares
Page 9

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 105

PACE Select Advisors Trust Prospectus Class A Y Shares
Page 162

PACE Select Advisors Trust Prospectus Class P Shares
Page 108

PACE Select Advisors Trust Prospectus Class P Shares
Page 168

PACE Select Advisors Trust Statement of Additional Information
Page 273

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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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