PACE High Yield Fund (PHIAX) Class A

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PACE High Yield fund is one of best high yield corporate bond mutual funds. This taxable fixed income fund also has a yield of 7.11%. You can find the fund review below.

PACE High Yield A (Ticker: PHIAX)

The PACE High Yield fund objective is to achieve total return by investing in a diversified portfolio of fixed income securities rated below investment grade or high yield bonds. It also may invest in US and/or non-US senior secured bank loans. It invests in different countries around the world, including the U.S.

Fund Details
  • Fund Inception Date: May 2, 2006
  • Ticker Symbol: PHIAX
  • CUSIP: 69373W780
  • Beta (3yr): -0.09
  • Rank in category (YTD): 11%
  • Category: High Yield Bond
  • Yield: 7.11%
  • Capital Gains: 0%
  • Expense Ratio: 1.33%
  • Net Assets: $ 286.62 million
  • Number of Years Up: 3 years
  • Number of Years Down: 2 years
  • Annual Turnover Rate: 36%
updated on 10/25/2012

This High Yield Bond fund has total net assets of $286.62 million. It is under the management of UBS Global Asset Management. Its yield is 7.11%. This yield is distributed on monthly basis. Since its inception, this PACE High Yield fund has been managed by Taylor N. Wagenseil. He is the Director and Co-Head of High Yield portfolio management.

Pace High Yield Fund
Best High Yield Bond Mutual Funds 2012

Morningstar has ranked this fixed income fund with 4 stars. The YTD return is 7.08%. It has its best return in 2009 (50.39%).The worst return was occurred in 2008 (-18.72%). It has returned 19.61% over the past 3-year and 7.41% over the past 5-year. The 3-year beta is -0.09.

The minimum initial investment for brokerage or retirement account is $1,000. The minimum subsequent investment is $100 or more. There are 25 brokerages that offer this high yield bond fund. They are Scottrade Load, Raymond James, Fidelity Retail Funds Network, Morgan Stanley – Brokerage Accounts, Pershing Fund Center, UBS Financial Services Inc, etc. This PACE High Yield Investment fund is also available in other classes, such as Class Y (PHDYX), Class C (PHYCX) and Class P (PHYPX).

The top 5 holdings are: AIG bond, HCA bond, Novelis bond, First Data 144A bond, CIT Group bond. The top 4 sectors include: Corporate bond (90.21%), Asset-Backed (4.34%), Preferred (2.07%), and Non-Agency Residential MBS (0.44%).

Goods:
  • Low annual portfolio turnover
  • Low minimum initial investment
Bads:
  • Average expense ratio
  • Class A has sales load
Disclosure: No Position

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