PCSIX: PACE Strategic Fixed Income P

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PCSIX PACE Strategic Fixed Income P


Profile

PCSIX - Profile

Vitals

  • YTD Return 2.4%
  • 3 Yr Annualized Return 1.5%
  • 5 Yr Annualized Return 0.5%
  • Net Assets $710 M
  • Holdings in Top 10 54.8%

52 WEEK LOW AND HIGH

$14.35
$13.08
$14.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.32%

SALES FEES

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

BROKERAGE FEES

  • Turnover 308.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $10,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.25%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

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

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 advisor may, but is not required to, use exchange-traded or over-the-counter derivative instruments for risk management purposes or to attempt to increase total returns.


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Categories

Performance

PCSIX - Performance

Return Ranking - Trailing

Period PCSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -18.0% 6.7% 41.79%
1 Yr 5.3% -19.4% 9.9% 29.84%
3 Yr 1.5%* -9.9% 3.0% 36.48%
5 Yr 0.5%* -8.1% 24.5% 37.50%
10 Yr 0.1%* -4.8% 11.9% 47.19%

* Annualized

Return Ranking - Calendar

Period PCSIX Return Category Return Low Category Return High Rank in Category (%)
2019 6.5% -1.3% 13.9% 26.98%
2018 -4.4% -10.3% 2.7% 72.39%
2017 2.7% -2.2% 8.1% 17.42%
2016 -0.7% -8.5% 192.8% 85.82%
2015 -3.6% -12.2% -0.4% 58.78%

Total Return Ranking - Trailing

Period PCSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -18.0% 6.7% 41.79%
1 Yr 5.3% -19.4% 9.9% 29.84%
3 Yr 3.3%* -9.9% 4.1% 6.29%
5 Yr 3.3%* -8.1% 28.7% 8.09%
10 Yr 4.1%* -4.8% 16.5% 11.24%

* Annualized

Total Return Ranking - Calendar

Period PCSIX Return Category Return Low Category Return High Rank in Category (%)
2019 6.7% -1.2% 13.9% 22.75%
2018 -1.2% -10.3% 3.9% 20.86%
2017 5.5% -2.2% 8.4% 6.45%
2016 4.3% -4.6% 204.3% 13.48%
2015 -0.2% -12.2% 3.7% 10.69%

NAV & Total Return History


Holdings

PCSIX - Holdings

Concentration Analysis

PCSIX Category Low Category High PCSIX % Rank
Net Assets 710 M 3.05 M 67.5 B 39.81%
Number of Holdings 594 5 7557 50.74%
Net Assets in Top 10 312 M -1.29 B 39.5 B 29.06%
Weighting of Top 10 54.81% 6.2% 98.5% 17.02%

Top 10 Holdings

  1. 5 Year Treasury Note Future Mar 20 12.17%
  2. Government National Mortgage Association 4% 6.28%
  3. United States Treasury Bonds 2.5% 5.97%
  4. 10 Year Treasury Note Future Mar 20 5.87%
  5. Future on Euro Bund Future Sept 20 4.64%
  6. Swpc0ija6 Cds Usd R F 1.00000 1 Ccpcdx 4.24%
  7. Euro Btp Future Mar20 Xeur 20200306 4.17%
  8. Swpc0ija6 Cds Usd P V 03mevent 2 Ccpcdx 4.15%
  9. 3 Month Euro Euribor Sept20 4.01%
  10. 3 Month Euro Euribor Dec20 3.30%

Asset Allocation

Weighting Return Low Return High PCSIX % Rank
Bonds
96.99% -68.17% 336.40% 36.76%
Cash
1.78% -220.82% 171.99% 67.49%
Convertible Bonds
1.24% 0.00% 3.87% 43.84%
Stocks
0.00% 0.00% 14.76% 92.16%
Preferred Stocks
0.00% 0.00% 6.96% 94.09%
Other
0.00% -15.58% 13.71% 82.76%

Bond Sector Breakdown

Weighting Return Low Return High PCSIX % Rank
Government
50.53% 0.00% 83.41% 3.45%
Corporate
21.54% 0.00% 80.84% 66.50%
Securitized
19.35% 0.00% 93.27% 80.30%
Derivative
6.86% 0.00% 29.60% 29.06%
Cash & Equivalents
1.57% 0.04% 58.94% 94.58%
Municipal
0.15% 0.00% 28.12% 61.58%

Bond Geographic Breakdown

Weighting Return Low Return High PCSIX % Rank
US
104.74% -68.36% 314.24% 18.72%
Non US
-7.75% -19.12% 67.57% 98.52%

Expenses

PCSIX - Expenses

Operational Fees

PCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.32% 0.02% 37.25% 31.41%
Management Fee 0.51% 0.00% 0.96% 80.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.02% 0.50% 39.51%

Sales Fees

PCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 67.16%

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 Return Low Category Return High Rank in Category (%)
Turnover 308.00% 7.12% 449.00% 84.38%

Distributions

PCSIX - Distributions

Dividend Yield Analysis

PCSIX Category Low Category High PCSIX % Rank
Dividend Yield 0.00% 0.00% 2.81% 92.23%

Dividend Distribution Analysis

PCSIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PCSIX Category Low Category High PCSIX % Rank
Net Income Ratio 3.25% -0.35% 8.52% 24.48%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PCSIX - Fund Manager Analysis

Managers

Mabel Lung


Start Date

Tenure

Tenure Rank

Dec 31, 1995

23.43

23.4%

• Mabel has been an integral member in portfolio management of Multi-Asset and Multi-Component Portfolios since 2000 when UBS Asset Management launched the UBS Multi-Asset Managed Accounts Program. • Recognizing the importance of after-tax investment results to US private clients, Mabel led her team to launch Personalized Tax Management in 2011 as a tax overlay investment service to multi-asset portfolios. • Mabel has significant experience in manager selection, overseeing $30 billion of assets for institutional and private clients globally through open architecture of best-in-class managers in liquid strategies, combined with a keen focus on risk-aware and holistic portfolio construction. • Mabel joined the firm in 1984, after her graduate study in business administration and has held various positions in finance, treasury, strategic and business planning, prior to joining the asset management division of the firm in 1995. • Prior to business school, she was a corporate finance analyst at an investment banking firm.

Fred Lee


Start Date

Tenure

Tenure Rank

Dec 31, 2009

9.42

9.4%

Fred Lee, CFA, as the Head of Portfolio Construction & Quantitative Research within the MMS team since January 2009, oversees the portfolio construction process in determining the specific allocations to individual managers. He also leads the team responsible for the quantitative assessment of managers. Mr. Lee is located in the London office of UBS AM, which he joined in 2006 as a Risk Analyst where he provided risk assessment and monitoring for all client portfolios and enhanced proprietary risk models. Prior to joining UBS 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.

Gina Toth


Start Date

Tenure

Tenure Rank

Mar 31, 2013

6.17

6.2%

Gina Toth, CFA, is a Portfolio Manager within the MMS team at UBS AM, 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. Ms. Toth 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.

Scott Mather


Start Date

Tenure

Tenure Rank

Jan 16, 2015

4.37

4.4%

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. Mr. Mather also oversees ESG portfolio integration in the U.S. 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.

Thanos Bardas


Start Date

Tenure

Tenure Rank

Jan 21, 2015

4.36

4.4%

Thanos Bardas, PhD, Managing Director, joined the firm in 1998. Thanos is the Head of Global Rates and serves as a Senior Portfolio Manager on Global Investment Grade and Multi-Sector Fixed income strategies. He sits on the firm’s Asset Allocation Committee and Fixed Income’s Investment Strategy Committee, and is a member of the Fixed Income Multi-Sector Group. Thanos also leads the Global Rates team in determining rates exposure across various portfolio strategies and oversees both inflation and LDI investments. Thanos graduated with honors from Aristotle University, Greece, earned his MS from the University of Crete, Greece, and holdsa PhD in Theoretical Physics from State University of New York at Stony Brook. He holds FINRA Series 7 and Series 66 licenses.

David Brown


Start Date

Tenure

Tenure Rank

Jan 21, 2015

4.36

4.4%

Mr. Brown, CFA, Managing Director, re-joined Neuberger Berman in 2003. Mr. Brown is Head of Investment Grade Corporate Strategies and Head of Corporate Trading. Mr. Brown is also 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.He 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.

Thomas Marthaler


Start Date

Tenure

Tenure Rank

Jan 21, 2015

4.36

4.4%

Thomas J. Marthaler, CFA, Managing Director, joined the firm in 2006. Tom is a Senior Portfolio Manager on Global Investment Grade and Multi-SectorFixed Income strategies. He is a member of the Fixed Income Investment Strategy Committee and Fixed Income Multi-Sector Group. 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 beganin1981 in fixed income and includes investment responsibilities in trading, research, portfolio management, client service and product management. He earned a BAfrom the University of St. Thomas and an MBA from Loyola University in Chicago. In addition, Tom has been awarded the Chartered Financial Analyst designation.

Bradley Tank


Start Date

Tenure

Tenure Rank

Jan 21, 2015

4.36

4.4%

Brad C. Tank, Managing Director, joined the firm in 2002 and is the Chief Investment Officer and Global Head of Fixed Income. He is a member of Neuberger Berman’s Operating, Investment Risk, Asset Allocation Committees and Fixed Income’s Investment Strategy Committee, and leads the Fixed Income Multi-Sector Group. From inception in 2008 through 2015, Brad was also Chief Investment Officer of Neuberger Berman’s Multi-Asset Class Investment business and remains an important member of that team along with the firm’s other CIOs. From 1990 to2002, Brad was director of fixed income for Strong Capital Management in Wisconsin. He was also a member of the Office of the CEO and headed institutional and intermediary distribution. In 1997, Brad was named “Runner Up” for Morningstar Mutual Fund Manager of the Year. From 1982 to 1990, he was a vice president at Salomon Brothers in the government, mortgage and financial institutions areas. Brad earned a BBA and an MBA from the University of Wisconsin.

Andrew Johnson


Start Date

Tenure

Tenure Rank

Jan 21, 2015

4.36

4.4%

Andrew Johnson, Managing Director, joined the firm in 1989. Andy is the Co-Head of Global Investment Grade and acts as Senior Portfolio Manager on both Global Investment Grade and Multi-Sector Fixed Income strategies. He sits on the firm’s Investment Risk, Asset Allocation and Partnership committees and is a member of Fixed Income’s Investment Strategy Committee and Multi-Sector Group. He is also a member of Neuberger Berman Investment Advisers LLC’s Board of Directors. 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.

Ashok Bhatia


Start Date

Tenure

Tenure Rank

Dec 31, 2017

1.41

1.4%

Ashok K. Bhatia, CFA, Managing Director, joined the firm in 2017. Ashok is a Senior Portfolio Manager in the Fixed Income Multi-Sector Group and is a member of the Multi-Asset Class portfolio management team, the Fixed Income Investment Strategy Committee and the firm’s Asset Allocation Committee. Previously, Ashok has held senior investment and leadership positions in several asset management firms and hedge funds, including Wells Fargo Asset Management, Balyasny Asset Management, and Stark Investments. Ashok has had investment responsibilities across global fixed income and currency markets. Ashok began his career in 1993 as an investment analyst at Morgan Stanley. Ashok received a BA with high honors in Economics from the University of Michigan, Ann Arbor, and an MBA with high honors from the University of Chicago. He has been awarded the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 27.35 5.17 5.6