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PCSIX PACE Strategic Fixed Income P

  • Fund
  • PCSIX
  • Price as of: Aug 08, 2016
  • $14.15
  • + $0.02
  • + 0.14%
  • Category
  • Total Bond Market

PCSIX - Profile

Vitals

  • YTD Return 4.8%
  • 3 Yr Annualized Return 4.1%
  • 5 Yr Annualized Return 4.1%
  • Net Assets $883 M
  • Holdings in Top 10 136.8%

52 WEEK LOW AND HIGH

$14.15
$13.43
$14.24

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 154.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$10,000

IRA

N/A

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate-Term Bond

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.69%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name PACE Strategic Fixed Income Investments
  • Fund Family Name UBS
  • Inception Date Aug 24, 1995
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Thanos Bardas

Fund Description

The fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in investment grade fixed income securities. It also invests, to a limited extent, in bonds that are below investment grade. The fund invests in bonds of varying maturities, but normally limits its portfolio "duration" to within +/- 50% of the effective duration of the fund's benchmark index, Barclays US Government/Credit Index.

PCSIX - Performance

Return Ranking - Trailing

Period PCSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.8% -29.9% 209.8% 12.82% 1
1 Yr 5.7% -15.9% 20.3% 14.91% 1
3 Yr 4.1% * -6.4% 10.4% 20.50% 2
5 Yr 4.1% * -3.4% 9.0% 15.18% 1
10 Yr 6.5% * -1.1% 10.2% 3.92% 1

* Annualized


Return Ranking - Calendar

Period PCSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.6% -51.0% 6.6% 48.60% 4
2014 N/A -0.4% 2.9% N/A N/A
2013 N/A -4.9% -0.8% N/A N/A
2012 N/A 0.8% 13.9% N/A N/A
2011 N/A -1.7% 3.8% N/A N/A

Total Return Ranking - Trailing

Period PCSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.8% -8.1% 209.8% 13.03% 1
1 Yr 5.7% -19.0% 20.3% 12.51% 1
3 Yr 4.1% * -7.1% 10.4% 18.36% 1
5 Yr 4.1% * -4.3% 9.0% 13.53% 1
10 Yr 6.5% * -1.1% 10.2% 3.75% 1

* Annualized


Total Return Ranking - Calendar

Period PCSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.6% -51.0% 6.6% 48.65% 4
2014 N/A -0.3% 4.5% N/A N/A
2013 N/A -4.6% 0.6% N/A N/A
2012 N/A 1.4% 15.7% N/A N/A
2011 N/A -0.9% 5.5% N/A N/A

NAV & Total Return History

PCSIX - Holdings

Filings data as of: Apr 30, 2016

Concentration Analysis

PCSIX Category Low Category High PCSIX % Rank Quintile
Net Assets 883 M 319 K 169 B 12.87% 3
Number of Holdings 522 1 17404 10.48% 3
Net Assets in Top 10 -24.6 M -36 B 21.5 B 31.13% 5
Weighting of Top 10 136.8% 0.0% 1826.2% 0.86% 1

Top 10 Holdings

  1. 90day Eur Futr Dec18 Xcme 20181217 26.43%
  2. Us 10yr Note (Cbt)jun16 Xcbt 20160621 17.58%
  3. Us 5yr Note (Cbt) Jun16 Xcbt 20160630 14.39%
  4. Bwu00d7p7 Irs Usd P F 2.75000 Ccp Cme 14.15%
  5. Bwu00d7p7 Irs Usd R V 03mlibor Ccp Cme 12.62%
  6. US Treasury Bond 2.5% 11.74%
  7. 90day Sterling Fu Jun18 Ifll 20180620 11.21%
  8. 90day Eur Futr Sep18 Xcme 20180917 10.67%
  9. US Treasury Note 9.37%
  10. Bwu00dad0 Irs Usd P F 2.25000 Swu00dad0 Ccpvanilla 8.60%

Asset Allocation

Weighting Category Low Category High PCSIX % Rank Quintile
Bonds
142.58% -175.98% 181.87% 0.31% 1
Other
3.29% -15.97% 117.15% 4.73% 1
Preferred Stocks
0.45% -0.07% 17.65% 5.70% 2
Convertible Bonds
0.37% 0.00% 18.40% 3.51% 1
Stocks
0.00% -5.60% 98.06% 5.39% 3
Cash
-46.69% -82.73% 275.92% 28.99% 5

Bond Sector Breakdown

Weighting Category Low Category High PCSIX % Rank Quintile
Corporate
51.12% 0.00% 502.59% 5.39% 1
Government
49.17% -990.83% 129.84% 2.39% 1
Securitized
40.35% 0.00% 275.57% 8.19% 2
Cash & Equivalents
9.89% -63.55% 811.66% 12.87% 3
Municipal
2.76% 0.00% 106.20% 5.04% 1
Derivative
-57.02% -895.14% 18.41% 6.26% 5

Bond Geographic Breakdown

Weighting Category Low Category High PCSIX % Rank Quintile
US
111.85% -513.97% 163.91% 0.46% 1
Non US
30.73% -5.42% 399.20% 3.26% 1

PCSIX - Expenses

Operational Fees

PCSIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.82% 0.00% 42.51% 10.59% 2
Management Fee 0.50% 0.00% 2.15% 2.49% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.10% 0.00% 0.63% 2.35% 3

Sales Fees

PCSIX Fees (% of AUM) Category Low Category High PCSIX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

PCSIX Fees (% of AUM) Category Low Category High PCSIX Rank Quintile
Max Redemption Fee 1.00% 0.25% 2.00% 1.67% 1

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PCSIX Fees (% of AUM) Category Low Category High PCSIX Rank Quintile
Turnover 154.00% 0.00% 1944.00% 7.48% 4

PCSIX - Distributions

Dividend Yield Analysis

PCSIX Category Low Category High PCSIX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.30% 10.01% 1

Dividend Distribution Analysis

PCSIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PCSIX Category Low Category High PCSIX % Rank Quintile
Net Income Ratio 2.69% -1.76% 17.13% 9.87% 2

Capital Gain Distribution Analysis

PCSIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PCSIX - Managers

Thanos Bardas

Manager

Start Date

Jan 21, 2015

Tenure

1.53

Tenure Rank

7.9%

Thanos Bardas, Managing Director, joined the firm in 1998. Thanos serves as a co-portfolio manager on multiple fixed income portfolios. He is a member of the fixed income investment team setting overall portfolio strategy and serves on specialty investment grade teams. Thanos graduated with honors from Aristotle University, Greece, earned his MS from the University of Crete, Greece, and holds a PhD in Theoretical Physics from State University of New York at Stony Brook.


David M. Brown

Manager

Start Date

Jan 21, 2015

Tenure

1.53

Tenure Rank

7.9%

David M. Brown, Managing Director, re-joined the predecessor firm to NBFI in January 2003. Dave is Head of Investment Grade Corporate Strategies and the Head of Corporate Trading. He is a member of the Investment Grade Strategy Committee and is responsible for determining credit exposures across various portfolio strategies and for managing the credit trading group. Dave initially joined the firm in 1991 after graduating from the University of Notre Dame with a BA in Government and subsequently received his MBA in Finance from Northwestern University. Prior to his return, he was a senior credit analyst at Zurich Scudder Investments and later a credit analyst and portfolio manager at Deerfield Capital. Dave has been awarded the Chartered Financial Analyst designation.


Bradley C. Tank

Manager

Start Date

Jan 21, 2015

Tenure

1.53

Tenure Rank

7.9%

Bradley C. Tank is a Managing Director of Neuberger Berman Management LLC and Neuberger Berman LLC. He joined the firm in 2002 after 23 years of experience in trading and asset management. Mr. Tank is also the Chairman, Chief Executive Officer, Board Member, Managing Director and Chief Investment Officer of Neuberger Berman.


Thomas J. Marthaler

Manager

Start Date

Jan 21, 2015

Tenure

1.53

Tenure Rank

7.9%

Thomas J. Marthaler, CFA, Managing Director, joined NBFI in 2006. Tom is a Portfolio Manager/Client Specialist on the Investment Grade Fixed Income Team. Prior to joining the firm, Tom served as executive vice president and CIO for North American Fixed Income at ABN AMRO Asset Management, and its predecessor firm, Chicago Title and Trust. His career began in 1981 in fixed-income and includes trading, research, portfolio management, client service and product management. He earned a BA from the University of St. Thomas and an MBA from Loyola University in Chicago. In addition, Tom has been awarded the Chartered Financial Analyst designation.


Andrew A. Johnson

Manager

Start Date

Jan 21, 2015

Tenure

1.53

Tenure Rank

7.9%

Andrew A. Johnson, Managing Director, joined the predecessor firm to NBFI in 1989. Andy is the Head of Investment Grade Fixed Income and lead portfolio manager for multiple core bond portfolios. He is the Chief Investment Officer for investment grade strategies with responsibility for the overall direction of the investment process and research. Andy leads the senior investment team that sets overall portfolio strategy, and serves on numerous investment grade sector specialty teams. Prior to joining the firm, Andy was a manager of financial planning and analysis at Illinois Bell. Previously, he had been an R&D engineer at Northrop Defense Systems Division. Andy earned his BS and MS degrees in Electrical Engineering at the Illinois Institute of Technology and his MBA from the University of Chicago.


Scott A. Mather

Manager

Start Date

Jan 16, 2015

Tenure

1.54

Tenure Rank

7.9%

Mr. Mather is CIO U.S. Core Strategies and a managing director in the Newport Beach office. He is a member of the Investment Committee and a generalist portfolio manager. Previously he was head of global portfolio management. Before that, he led portfolio management in Europe, managed euro and pan-European portfolios and worked closely with many Allianz-related companies. He also served as a managing director of Allianz Global Investors KAG. Prior to these roles, Mr. Mather co-headed PIMCO's mortgage- and asset-backed securities team. Prior to joining PIMCO in 1998, he was a fixed income trader specializing in mortgage-backed securities at Goldman Sachs in New York. He holds a master's degree in engineering, as well as undergraduate degrees, from the University of Pennsylvania.


Gina Toth

Manager

Start Date

Nov 28, 2015

Tenure

0.67

Tenure Rank

8.6%

Gina Toth is a Portfolio Manager within the Multi-Manager Solutions team at UBS Global Asset Management, focusing on fixed income and multi-asset investment strategies, including liquid alternatives. She is part of the team responsible for manager due diligence and selection, portfolio construction, risk management, investment oversight, and performance of multi-asset strategies. Gina joined the firm in March 2013. Previously, she worked at AllianceBernstein as a Senior Portfolio Manager in New York and Sydney, specializing in multi-asset portfolios, asset allocation and custom solutions for the institutional, high-net worth and retail channels, encompassing both traditional and non-traditional asset classes. She also spent 14 years in New York and London as a fixed income portfolio manager for US and global portfolios.


Mabel Lung

Manager

Start Date

Nov 28, 2015

Tenure

0.67

Tenure Rank

8.6%

Mabel Lung, CFA, has been responsible for overseeing the PACE funds since their inception in 1995. Ms. Lung has been a member the Global Investment Solutions ("GIS") team since 2005. Ms. Lung has 29 years of investment experience.


Fred Lee

Manager

Start Date

Nov 28, 2015

Tenure

0.67

Tenure Rank

8.6%

Fred Lee, CFA, located in UBS Global AM's London office, has been heading the Portfolio Construction & Quantitative Research & Analysis team within the MMS team since January 2009. His responsibilities include overseeing and continuously improving the investment process for the MMS team. Mr. Lee joined UBS Global AM in 2006 as a Risk Analyst where he provided risk assessment and monitoring for all client portfolios using industry standard and proprietary systems. Prior to joining UBS Global AM, Mr. Lee worked as a consultant for MSCI Barra providing advice to large investment managers across Europe on the interpretation and use of risk models and analytics.


Diana To

Manager

Start Date

Nov 28, 2015

Tenure

0.67

Tenure Rank

8.6%

Diana To joined the MMS team at UBS AM in June 2014 as a Strategist and Analyst. She is responsible for representing the MMS portfolios and capabilities to current and prospective clients, as well as researching and analyzing existing and potential managers in the MMS portfolios. Prior to joining the MMS team, Ms. To was a strategist in the Global Investment Solutions group at UBS AM, where she was responsible for multi-asset portfolios, assisting with portfolio management and analysis. Prior to joining UBS AM in 2010, Ms. To was with Wellington Management for 10 years and held various roles in equity research, business development, and product management in the United States and Asia.


Anthony Karaminas

Manager

Start Date

Nov 28, 2015

Tenure

0.67

Tenure Rank

8.6%

Anthony Karaminas is an Analyst within the MMS team at UBS AM, focusing on fixed income strategies. Mr. Karaminas' responsibilities include manager due diligence and selection, portfolio construction, risk management, investment oversight, and performance of fixed income strategies. Mr. Karaminas joined UBS AM in September 2014. He previously held the role of Sector Head of Global Fixed Income and Global High Yield with S&P funds research in London and previously served as an Analyst in Melbourne. Prior to this, he had been a Senior Analyst at Goldman Sachs & Co.


Tenure Analysis

Category Low

0.0

Category High

27.6

Category Average

5.91

Category Mode

1.6