THE UBS FUNDS
		UBS U.S. LARGE CAP EQUITY FUND
		   UBS U.S. VALUE EQUITY FUND
		    UBS GLOBAL BIOTECH FUND
		  UBS GLOBAL TECHNOLOGY FUND

	  Supplement to Prospectus dated November 5, 2001,
		    as revised April 8, 2002

							  June 4, 2002

Dear Investor,

	The purpose of this supplement to the prospectus is to notify
investors of several changes affecting the Funds listed above that were
approved by the Board of Trustees (the "Board") of The UBS Funds
(the "Trust").

I.	PROPOSED MERGER OF UBS U.S. LARGE CAP EQUITY FUND ("LARGE CAP
	EQUITY FUND")INTO UBS U.S. VALUE EQUITY FUND ("VALUE EQUITY
	FUND")

	The Board has approved the submission of a Plan of
Reorganization (the "Plan") to shareholders of Large Cap Equity Fund under
which substantially all of the assets of Large Cap Equity Fund would be
transferred to Value Equity Fund in exchange for shares of Value Equity
Fund ("Reorganization").  Under the Plan, shareholders of each class of
Large Cap Equity Fund then would receive shares of the corresponding class
of Value Equity Fund equal in value to their investment in Large Cap Equity
Fund.  The Reorganization is intended to be a tax-free transaction.

	More information about the proposed Reorganization will be provided
to Large Cap Equity Fund shareholders in proxy materials, which are expected
to be mailed in early August.  If  approved by Large Cap Equity Fund
shareholders,the Reorganization is expected to occur on October 4, 2002 or
as soon as practicable thereafter.

	You may continue to purchase, redeem and exchange shares of Large
Cap Equity Fund as described in the prospectus prior to the shareholder
meeting.  If the Reorganization is approved, it is expected that new
purchases of and exchanges into Large Cap Equity Fund will not be permitted
commencing approximately five business days prior to the date on which the
Reorganization is to be effected.

II.	LIQUIDATION OF UBS GLOBAL BIOTECH FUND AND UBS GLOBAL
	TECHNOLOGY FUND

	On June 3, 2002 the Board also voted to liquidate UBS Global Biotech
Fund and UBS Global Technology Fund (together the "Liquidating Funds") and
distribute the proceeds of the respective liquidations to each Fund's
shareholders.  The Board also voted to close each of the Liquidating Funds
effective June 5, 2002 to additional purchases and exchange purchases, other
than purchases through reinvested dividends, other distributions or automatic
investment plans.  It is anticipated that the Liquidating Funds will cease
operations and be liquidated on or about August 16, 2002.



	Prior to your Fund's liquidation, you may either exchange your shares
for the corresponding class of shares of another UBS Family Fund or redeem
your shares.  If you elect to redeem your shares, any otherwise applicable
contingent deferred sales charge will be waived.  You may also continue to
hold your shares until the liquidation date when the then-current value of
your investment will be returned to you.  Shareholders of the Liquidating
Funds will receive a notice containing more detail regarding these options
in the upcoming weeks.

	Your decision to exchange your shares or redeem them, as well as a
decision to hold shares until the receipt of liquidation proceeds, may result
in your realizing gains that will be subject to capital gains tax.  You should
contact your tax advisor for more information about the tax consequences of
these options.

	This information supplements and supercedes any contrary information
contained in the Trust's prospectus. Please be sure to retain this supplement
with your prospectus. For more information, contact 1-800-647-1568.



							ITEM # ZS-117