-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950117-03-004873.txt : 20031114
<SEC-HEADER>0000950117-03-004873.hdr.sgml : 20031114
<ACCEPTANCE-DATETIME>20031114152421
ACCESSION NUMBER:		0000950117-03-004873
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20031114
EFFECTIVENESS DATE:		20031114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UBS PACE SELECT ADVISORS TRUST
		CENTRAL INDEX KEY:			0000930007
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-87254
		FILM NUMBER:		031003969

	BUSINESS ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 882 5575

	MAIL ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINEWEBBER PACE SELECT ADVISORS TRUST
		DATE OF NAME CHANGE:	19980212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST
		DATE OF NAME CHANGE:	19941212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINEWEBBER CONSULTING FUND PRODUCT
		DATE OF NAME CHANGE:	19940914

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UBS INVESTMENT TRUST
		CENTRAL INDEX KEY:			0000873803
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-39659
		FILM NUMBER:		031003973

	BUSINESS ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 882 5575

	MAIL ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRINSON INVESTMENT TRUST
		DATE OF NAME CHANGE:	20010625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINEWEBBER INVESTMENT TRUST
		DATE OF NAME CHANGE:	19960511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIDDER PEABODY INVESTMENT TRUST
		DATE OF NAME CHANGE:	19920929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UBS FUNDS
		CENTRAL INDEX KEY:			0000886244
		IRS NUMBER:				367056204
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-47287
		FILM NUMBER:		031003971

	BUSINESS ADDRESS:	
		STREET 1:		209 S LASALLE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60604-1795
		BUSINESS PHONE:		8001482430

	MAIL ADDRESS:	
		STREET 1:		209 S LASALLE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60604-1795

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRINSON FUNDS INC
		DATE OF NAME CHANGE:	19920929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UBS INDEX TRUST
		CENTRAL INDEX KEY:			0001039949
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-27917
		FILM NUMBER:		031003972

	BUSINESS ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 882 5575

	MAIL ADDRESS:	
		STREET 1:		C/O UBS GLOBAL ASSET MANAGEMENT (US) INC
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRINSON INDEX TRUST
		DATE OF NAME CHANGE:	20010625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINEWEBBER INDEX TRUST
		DATE OF NAME CHANGE:	19970523
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>a36506.txt
<DESCRIPTION>UBS PACE SELECT ADVISORS TRUST
<TEXT>

<PAGE>


                         UBS PACE SELECT ADVISORS TRUST
                          UBS TACTICAL ALLOCATION FUND
                             UBS S&P 500 INDEX FUND
                                 THE UBS FUNDS

                              Prospectus Supplement

                                                               November 14, 2003

Dear Investor,

         The purpose of this supplement is to update the prospectuses of the
above-referenced Funds.

The following language supplements the sub-section "Buying Shares" in the
"Managing Your Fund Account" section of each prospectus.

         "Selected securities dealers or other financial institutions, including
         UBS Financial Services Inc., may charge a processing fee to confirm a
         purchase. UBS Financial Services Inc. currently charges a fee of
         $5.25."

The following language supplements the sub-section "Selling Shares" in the
"Managing Your Fund Account" section of each prospectus.

         "Securities dealers or other financial institutions, including UBS
         Financial Services Inc., may charge a fee to process a redemption of
         shares. UBS Financial Services Inc. currently charges a fee of $5.25."

                                                                   Item # ZS-224


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----