The UBS [profile] fund PACE Alternative Strategies Investments is altering their principal investment strategies and the secondary benchmarks used for measuring fund performance. The fund's principal investment strategy disclosure is removing the disclosure about the fund's total rate of return target and adding disclosure about the breadth of the fund's potential investment strategies. The fund will now be using the MSCI World Free Index (net) and the HFRI Fund of Funds Composite Index as secondary benchmarks for measuring fund performance.[SEC Filing]. 

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