UBS MANAGED INVESTMENTS TRUST
                                  UBS STRATEGY FUND

                            Supplement to Proxy Statement


                                                                February 3, 2003

Dear Investor,

     The purpose of this supplement is to notify you of changes in the
section "Voting Information - Who is entitled to vote?" This section is
replaced in its entirety with the following:

WHO IS ENTITLED TO VOTE?

     Only shareholders of record of the Strategy Fund at the close of
business on the Record Date will be entitled to vote at the meeting.  The
number of shares of the Strategy Fund and each of its four classes
outstanding as of the Record Date is listed below:


                          SHARES OUTSTANDING
                                    
Strategy Fund......................    87,626,511
Strategy Fund Class A Shares.......    26,653,163
Strategy Fund Class B Shares.......    36,229,345
Strategy Fund Class C Shares.......    24,078,024
Strategy Fund Class Y Shares.......       665,979



                                                                Item No. ZS-169