0001104659-12-003119.txt : 20120120 0001104659-12-003119.hdr.sgml : 20120120 20120120155800 ACCESSION NUMBER: 0001104659-12-003119 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20120120 DATE AS OF CHANGE: 20120120 EFFECTIVENESS DATE: 20120120 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: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-47287 FILM NUMBER: 12537086 BUSINESS ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: ONE NORTH WACKER DR. CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-525-7100 MAIL ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: ONE NORTH WACKER DR. CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: BRINSON FUNDS INC 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: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-06637 FILM NUMBER: 12537087 BUSINESS ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: ONE NORTH WACKER DR. CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-525-7100 MAIL ADDRESS: STREET 1: C/O UBS GLOBAL ASSET MANAGEMENT (AMERICA STREET 2: ONE NORTH WACKER DR. CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: BRINSON FUNDS INC DATE OF NAME CHANGE: 19920929 0000886244 S000002982 UBS U.S. EQUITY OPPORTUNITY FUND C000008194 CLASS A BNVAX C000008195 CLASS B BNVBX C000008196 CLASS C BNVCX C000008197 CLASS Y BUSVX 485BPOS 1 a11-28209_5485bpos.htm POST-EFFECTIVE AMENDMENT FILED PURSUANT TO SECURITIES ACT RULE 485(B)

 

As filed with the U.S. Securities and Exchange Commission on January 20, 2012

File No. 033-47287

File No. 811-06637

 

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

x

Pre-Effective Amendment No.    

o

Post-Effective Amendment No. 94

x

 

 

and/or

 

 

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

x

Amendment No. 95

 

(Check appropriate box or boxes.)

 

THE UBS FUNDS

(Exact Name of Registrant as Specified in Charter)

 

One North Wacker, Chicago, Illinois  60606

(Address of Principal Executive Office) (Zip Code)

 

Registrant’s Telephone Number, including Area Code  (312) 525-7100

 

Mark F. Kemper
UBS Global Asset Management
One North Wacker
Chicago, Illinois  60606

(Name and Address of Agent for Service)

 

Please send copies of all communications to:

 

Bruce G. Leto, Esq.
Stradley, Ronon, Stevens & Young, LLP
2600 One Commerce Square
Philadelphia, PA 19103
(215) 564-8027

 

Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this registration statement.

 

It is proposed that this filing will become effective (check appropriate box):

 

x               immediately upon filing pursuant to paragraph (b)

o                 on [Date] pursuant to paragraph (b)

o                 60 days after filing pursuant to paragraph (a)(1)

o                 on [Date] pursuant to paragraph (a)(1)

o                 75 days after filing pursuant to paragraph (a)(2)

o                 on [Date] pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

 

o                 This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”) and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act and has duly caused Post-Effective Amendment Nos. 94/95 to this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of New York, and the State of New York on the 20th day of January, 2012.

 

 

THE UBS FUNDS

 

 

 

 

 

 

By:

Mark E. Carver*

 

 

Mark E. Carver

 

 

President and Principal Executive Officer

 

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

 

Signature

 

Title

 

Date

 

 

 

 

 

Mark E. Carver*

 

President and Principal

 

January 20, 2012

Mark E. Carver

 

Executive Officer

 

 

 

 

 

 

 

Frank K. Reilly*

 

Chairman and

 

January 20, 2012

Frank K. Reilly

 

Trustee

 

 

 

 

 

 

 

Shawn Lytle*

 

Trustee

 

January 20, 2012

Shawn Lytle

 

 

 

 

 

 

 

 

 

Edward M. Roob*

 

Trustee

 

January 20, 2012

Edward M. Roob

 

 

 

 

 

 

 

 

 

Adela Cepeda*

 

Trustee

 

January 20, 2012

Adela Cepeda

 

 

 

 

 

 

 

 

 

J. Mikesell Thomas*

 

Trustee

 

January 20, 2012

J. Mikesell Thomas

 

 

 

 

 

 

 

 

 

Abbie J. Smith*

 

Trustee

 

January 20, 2012

Abbie J. Smith

 

 

 

 

 

 

 

 

 

John J. Murphy*

 

Trustee

 

January 20, 2012

John J. Murphy

 

 

 

 

 

 

 

 

 

Thomas Disbrow*

 

Treasurer and Principal

 

January 20, 2012

Thomas Disbrow

 

Accounting Officer

 

 

 

 

* By:

/s/ Joseph J. Allessie

 

 

Joseph J. Allessie, Attorney-in-Fact

 

(Pursuant to Powers of Attorney incorporated herein by reference.)

 



 

INDEX TO EXHIBITS

 

Exhibit No.

 

Exhibit

 

 

 

EX-101.INS

 

XBRL Instance Document

 

 

 

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

 

 

 

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

 

 

 

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

 

 

 

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

 

 

 

EX-101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase

 


EX-101.INS 2 ck0000886244-20110630.xml XBRL INSTANCE DOCUMENT UBS FUNDS 2011-12-29 2011-12-30 2011-06-30 485BPOS 0000886244 false 2011-12-30 <div style="display:none">~ http://www.ubs.com/role/PerformanceTableData_S000002982Member column dei_LegalEntityAxis compact * column rr_PerformanceMeasureAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.ubs.com/role/ExpenseExampleNoRedemption_S000002982Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.ubs.com/role/ShareholderFeesData_S000002982Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> You may qualify for a sales charge waiver or discount if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. Example After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. Investment objective The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You may lose money by investing in the Fund. Main risks Shareholder fees (fees paid directly from your investment) 0.85 In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. UBS U.S. Equity Opportunity Fund Annual Total Returns of Class Y Shares (2002 is the Fund’s first full year of operations) Performance 50000 The performance information that follows shows the Fund's performance information in a bar chart and an average annual total returns table. The information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns compare with those of a broad measure of market performance. <pre>Total return January 1 - September 30, 2011: (15.30)% Best quarter during calendar years shown -- 2Q 2009: 19.76% Worst quarter during calendar years shown -- 4Q 2008: (25.45)%</pre> <pre>Principal investments Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in equity securities of US companies. The Fund primarily invests in large capitalization companies, but may invest in companies of any size. The Fund may invest up to 20% of its net assets in securities of foreign companies in both developed and emerging markets. Investments in equity securities may include, but are not limited to, dividend-paying securities, common stock, preferred stock, shares of investment companies, convertible securities, warrants and rights. The Fund may, but is not required to, use exchange-traded or over-the-counter derivative instruments for risk management purposes or as part of the Fund's investment strategies. The derivatives in which the Fund may invest include futures on indices or currencies and foward currency agreements, which may be used for risk management purposes to manage or adjust the risk profile of the Fund. Futures on currencies and forward currency agreements may also be used to hedge against a specific currency. In addition, futures on indices may be used for investment (non-hedging) purposes to earn income; to enhance returns; to replace more traditional direct investments; or to obtain exposure to certain markets. Management process In selecting securities, the Advisor focuses on, among other things, identifying discrepancies between a security's fundamental value and its market price. In this context, the fundamental value of a given security is the Advisor's assessment of what a security is worth. The Fund will select a security whose fundamental value it estimates to be greater than its market value at any given time. For each stock under analysis, the Advisor bases its estimates of value upon economic, industry and company analysis, as well as upon a company's management team, competitive advantage and core competencies. The Advisor then compares its assessment of a security's value against the prevailing market prices with the aim of constructing a focused portfolio of stocks with attractive relative price/value characteristics. Although the Fund is a diversified fund under the Investment Company Act of 1940, the Fund employs a focused investment strategy that may result in the Fund investing in a lesser number of issuers than other equity mutual funds.</pre> UBS U.S. Equity Opportunity Fund (formerly, UBS U.S. Large Cap Value Equity Fund) Average annual total returns (for the periods ended December 31, 2010) Portfolio turnover <pre>All investments carry a certain amount of risk and the Fund cannot guarantee that it will achieve its investment objective. You may lose money by investing in the Fund. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Below are some of the specific risks of investing in the Fund. Market risk: The market value of the Fund's investments may fluctuate, sometimes rapidly or unpredictably, as the stock and bond markets fluctuate. Market risk may affect a single issuer, industry, or sector of the economy, or it may affect the market as a whole. Management risk: The risk that the investment strategies, techniques and risk analyses employed by the Advisor may not produce the desired results. Foreign investing risk: The value of the Fund's investments in foreign securities may fall due to adverse political, social and economic developments abroad and due to decreases in foreign currency values relative to the US dollar. Investments in foreign government bonds involve special risks because the Fund may have limited legal recourse in the event of default. Also, foreign securities are sometimes less liquid and more difficult to sell and to value than securities of US issuers. These risks are greater for investments in emerging market issuers. In addition, investments in emerging market is suers may decline in value because of unfavorable foreign government actions, greater risks of political instability or the absence of accurate information about emerging market issuers. Limited capitalization risk: The risk that securities of smaller capitalization companies tend to be more volatile and less liquid than securities of larger capitalization companies. This can have a disproportionate effect on the market price of smaller capitalization companies and affect the Fund's ability to purchase or sell these securities. In general, smaller capitalization companies are more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources. Limited number of issuers risk: The Fund may invest in a limited number of issuers compared to other mutual funds and, consequently, may invest a greater portion of its assets in one or more issuers than other mutual funds. The Fund, therefore, may be more sensitive to a single economic, business, political, regulatory or other occurrence, which may result in greater fluctuation in the value of the Fund's shares and to a greater risk of loss. Derivatives risk: The value of "derivatives"--so called because their value "derives" from the value of an underlying asset, reference rate or index--may rise or fall more rapidly than other investments. When using derivatives for non-hedging purposes, it is possible for the Fund to lose more than the amount it invested in the derivative. The risks of investing in derivative instruments also include market and management risks. In addition, non-exchange traded derivatives may be subject to liquidity risk, credit risk and mispricing or valuation complexity. These derivatives risks are different from, and may be greater than, the risks associated with investing directly in securities and other instruments. Leverage risk associated with financial instruments: The use of financial instruments to increase potential returns, including derivatives used for investment (non-hedging) purposes, may cause the Fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the Fund that exceed the amount originally invested.</pre> Fees and expenses After-tax returns for other classes will vary from the Class Y shares' after-tax returns shown. Principal strategies http://globalam-us.ubs.com/corpweb/performance.do <pre>Risk/return bar chart and table The performance information that follows shows the Fund's performance information in a bar chart and an average annual total returns table. The information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns compare with those of a broad measure of market performance. Index reflects no deduction for fees, expenses or taxes. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. On December 30, 2011, the Fund's investment strategy, including its 80% policy, changed. The performance information below, prior to that date, is attributable to the Fund's previous investment strategy. Updated performance for the Fund is available at http://globalam-us.ubs.com/corpweb/performance.do. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns for other classes will vary from the Class Y shares' after-tax returns shown.</pre> <pre>These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a sales charge waiver or discount if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts and waivers, as well as eligibility requirements for each share class, is available from your financial advisor and in "Managing your fund account" on page 9 of the Fund's prospectus and in "Reduced sales charges, additional purchase, exchange and redemption information and other services" on page 54 of the Fund's statement of additional information ("SAI").</pre> <div style="display:none">~ http://www.ubs.com/role/OperatingExpensesData_S000002982Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) <pre>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 85% of the average value of its portfolio.</pre> <div style="display:none">~ http://www.ubs.com/role/ExpenseExample_S000002982Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.ubs.com/role/BarChartData_S000002982Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <pre>The Fund seeks to maximize total return, consisting of capital appreciation and current income.</pre> <pre>This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods unless otherwise stated. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The costs described in the example reflect the expenses of the Fund that would result from the contractual fee waiver and expense reimbursement agreement with the Advisor for the first year only. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:</pre> Index reflects no deduction for fees, expenses or taxes. BUSVX 0.0319 2001-06-29 -0.1530 0.0001 0.0000 2008-12-31 -0.1556 -0.2545 0.1425 -0.0053 0.1092 1734 -0.0100 763 0.0047 0.1976 0.1092 0.0078 -0.4009 0.0070 2013-10-27 0.23 -0.0053 0.10 Class Y Return before taxes 98 2009-06-30 419 0.3085 0.0000 0.0096 0.0149 0.1857 Total return January 1 - September 30, 2011: Worst quarter during calendar years shown Best quarter during calendar years shown 0.0000 2011-09-30 0.0268 2001-06-29 0.0734 -0.0047 Class Y Return after taxes on distributions and sale of fund shares 0.0201 2001-06-29 0.1073 -0.0172 Class Y Return after taxes on distributions BNVCX 0.0261 2001-12-12 0.0001 0.0100 -0.0045 2712 -0.0100 1245 0.0849 0.0070 0.0070 2013-10-27 2712 -0.0158 709 1245 Class C Return before taxes 299 709 0.0100 0.0196 0.0241 199 0.0000 BNVBX 0.0296 2001-11-08 0.0001 0.0500 -0.0053 2373 -0.0100 1478 0.0474 0.0078 0.0070 2013-10-27 2373 -0.0183 725 1278 Class B Return before taxes 699 1025 0.0100 0.0196 0.0249 199 0.0000 BNVAX 0.0247 2001-12-07 0.0001 0.0000 -0.0041 2334 -0.0100 1346 0.0446 0.0066 0.0070 2013-10-27 -0.0196 Class A Return before taxes 667 995 0.0025 0.0121 0.0162 0.0550 0.1551 0.0128 Russell 1000 Value Index 0.1610 0.0259 Russell 1000 Index 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:RRINDEX00001Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:RRINDEX00002Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:C000008194Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:C000008195Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:C000008196Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberrr:AfterTaxesOnDistributionsMemberck0000886244:C000008197Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000886244:C000008197Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Memberck0000886244:C000008197Member 2011-12-30 2011-12-30 0000886244 ck0000886244:SummaryS000002982Memberck0000886244:S000002982Member 2011-12-30 2011-12-30 0000886244 2011-12-30 2011-12-30 pure iso4217:USD Since the "Acquired fund fees and expenses" are not directly borne by the Fund, they are not reflected in the Fund's financial statements, and therefore the amounts listed in "Total annual fund operating expenses" and "Total annual fund operating expenses after management fee waiver/expense reimbursements" will differ from those presented in the Financial highlights. The Trust, with respect to the Fund, and UBS Global Asset Management (Americas) Inc., the Fund's investment advisor ("UBS Global AM (Americas)" or the "Advisor"), have entered into a written agreement pursuant to which the Advisor has agreed to waive a portion of its management fees and/or to reimburse expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses) to the extent necessary so that the Fund's ordinary operating expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses), through the period ending October 27, 2013, do not exceed 1.20% for Class A shares, 1.95% for Class B shares, 1.95% for Class C shares and 0.95% for Class Y shares. Pursuant to the written agreement, the Advisor is entitled to be reimbursed for any fees it waives and expenses it reimburses for a period of three years following such fee waivers and expense reimbursements to the extent that such reimbursement of the Advisor by the Fund will not cause the Fund to exceed any applicable expense limit that is in place for the Fund. Prior to September 30, 2003, Class C shares were subject to a maximum front-end sales charge of 1.00%; this front-end sales charge is not reflected in the average annual total returns presented for the Class C shares shown above. Effective December 30, 2011, the Fund's performance benchmark changed from the Russell 1000 Value Index to the Russell 1000 Index in connection with changes to the Fund's investment strategies effective on that date. Average annual total returns for the Russell 1000 Index for the life of each class were as follows: Class A--3.44%; Class B--3.86%; Class C--3.65%; Class Y--2.71%. Average annual total returns for the Russell 1000 Value Index for the life of each class were as follows: Class A--4.30%; Class B--4.65%; Class C--4.50%; Class Y--3.57%. 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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 30, 2011
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return, Heading rr_RiskReturnHeading UBS U.S. Equity Opportunity Fund (formerly, UBS U.S. Large Cap Value Equity Fund)
Investment Objective, Heading rr_ObjectiveHeading Investment objective
investment Objective, Primary rr_ObjectivePrimaryTextBlock
The Fund seeks to maximize total return, consisting of capital appreciation and
current income.
Expense, Heading rr_ExpenseHeading Fees and expenses
Expense, Narrative rr_ExpenseNarrativeTextBlock
These tables describe the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for a sales charge waiver or discount if you
and your family invest, or agree to invest in the future, at least $50,000 in
the Fund. More information about these and other discounts and waivers, as well
as eligibility requirements for each share class, is available from your
financial advisor and in "Managing your fund account" on page 9 of the Fund's
prospectus and in "Reduced sales charges, additional purchase, exchange and
redemption information and other services" on page 54 of the Fund's statement of
additional information ("SAI").
Shareholder Fees, Caption rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses, Caption rr_OperatingExpensesCaption Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover, Heading rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover rr_PortfolioTurnoverTextBlock
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 85%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 85.00%
Expense Breakpoint, Discounts rr_ExpenseBreakpointDiscounts You may qualify for a sales charge waiver or discount if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.
Expense Breakpoint, Minimum Investment Required Amount rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Expense Example, Heading rr_ExpenseExampleHeading Example
Expense Example, Narrative rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other mutual funds. The example assumes that you
invest $10,000 in the Fund for the time periods indicated and then sell all of
your shares at the end of those periods unless otherwise stated. The example
also assumes that your investment has a 5% return each year and that the Fund's
operating expenses remain the same. The costs described in the example reflect
the expenses of the Fund that would result from the contractual fee waiver and
expense reimbursement agreement with the Advisor for the first year only.
Although your actual costs may be higher or lower, based on these assumptions,
your costs would be:
Investment Strategy, Heading rr_StrategyHeading Principal strategies
Investment Strategy, Narrative rr_StrategyNarrativeTextBlock
Principal investments

Under normal circumstances, the Fund invests at least 80% of its net assets
(plus borrowings for investment purposes, if any) in equity securities of US
companies. The Fund primarily invests in large capitalization companies, but may
invest in companies of any size. The Fund may invest up to 20% of its net assets
in securities of foreign companies in both developed and emerging markets.
Investments in equity securities may include, but are not limited to,
dividend-paying securities, common stock, preferred stock, shares of investment
companies, convertible securities, warrants and rights.

The Fund may, but is not required to, use exchange-traded or over-the-counter
derivative instruments for risk management purposes or as part of the Fund's
investment strategies. The derivatives in which the Fund may invest include
futures on indices or currencies and foward currency agreements, which may be
used for risk management purposes to manage or adjust the risk profile of the
Fund. Futures on currencies and forward currency agreements may also be used to
hedge against a specific currency. In addition, futures on indices may be used
for investment (non-hedging) purposes to earn income; to enhance returns; to
replace more traditional direct investments; or to obtain exposure to certain
markets.

Management process

In selecting securities, the Advisor focuses on, among other things, identifying
discrepancies between a security's fundamental value and its market price. In
this context, the fundamental value of a given security is the Advisor's
assessment of what a security is worth. The Fund will select a security whose
fundamental value it estimates to be greater than its market value at any given
time. For each stock under analysis, the Advisor bases its estimates of value
upon economic, industry and company analysis, as well as upon a company's
management team, competitive advantage and core competencies. The Advisor then
compares its assessment of a security's value against the prevailing market
prices with the aim of constructing a focused portfolio of stocks with
attractive relative price/value characteristics. Although the Fund is a
diversified fund under the Investment Company Act of 1940, the Fund employs a
focused investment strategy that may result in the Fund investing in a lesser
number of issuers than other equity mutual funds.
Risk, Heading rr_RiskHeading Main risks
Risk, Narrative rr_RiskNarrativeTextBlock
All investments carry a certain amount of risk and the Fund cannot guarantee
that it will achieve its investment objective. You may lose money by investing
in the Fund. An investment in the Fund is not a deposit of the bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Below are some of the specific risks of investing in the
Fund.

Market risk: The market value of the Fund's investments may fluctuate, sometimes
rapidly or unpredictably, as the stock and bond markets fluctuate. Market risk
may affect a single issuer, industry, or sector of the economy, or it may affect
the market as a whole.

Management risk: The risk that the investment strategies, techniques and risk
analyses employed by the Advisor may not produce the desired results.

Foreign investing risk: The value of the Fund's investments in foreign
securities may fall due to adverse political, social and economic developments
abroad and due to decreases in foreign currency values relative to the US
dollar. Investments in foreign government bonds involve special risks because
the Fund may have limited legal recourse in the event of default. Also, foreign
securities are sometimes less liquid and more difficult to sell and to value
than securities of US issuers. These risks are greater for investments in
emerging market issuers. In addition, investments in emerging market is
suers may decline in value because of unfavorable foreign government actions,
greater risks of political instability or the absence of accurate information
about emerging market issuers.

Limited capitalization risk: The risk that securities of smaller capitalization
companies tend to be more volatile and less liquid than securities of larger
capitalization companies. This can have a disproportionate effect on the market
price of smaller capitalization companies and affect the Fund's ability to
purchase or sell these securities. In general, smaller capitalization companies
are more vulnerable than larger companies to adverse business or economic
developments and they may have more limited resources.

Limited number of issuers risk: The Fund may invest in a limited number of
issuers compared to other mutual funds and, consequently, may invest a greater
portion of its assets in one or more issuers than other mutual funds. The Fund,
therefore, may be more sensitive to a single economic, business, political,
regulatory or other occurrence, which may result in greater fluctuation in the
value of the Fund's shares and to a greater risk of loss.

Derivatives risk: The value of "derivatives"--so called because their value
"derives" from the value of an underlying asset, reference rate or index--may
rise or fall more rapidly than other investments. When using derivatives for
non-hedging purposes, it is possible for the Fund to lose more than the amount
it invested in the derivative. The risks of investing in derivative instruments
also include market and management risks. In addition, non-exchange traded
derivatives may be subject to liquidity risk, credit risk and mispricing or
valuation complexity. These derivatives risks are different from, and may be
greater than, the risks associated with investing directly in securities and
other instruments.

Leverage risk associated with financial instruments: The use of financial
instruments to increase potential returns, including derivatives used for
investment (non-hedging) purposes, may cause the Fund to be more volatile than
if it had not been leveraged. The use of leverage may also accelerate the
velocity of losses and can result in losses to the Fund that exceed the amount
originally invested.
Risk, Lose Money rr_RiskLoseMoney You may lose money by investing in the Fund.
Risk, Not Insured Depository Institution rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table, Heading rr_BarChartAndPerformanceTableHeading Performance
Performance, Narrative rr_PerformanceNarrativeTextBlock
Risk/return bar chart and table

The performance information that follows shows the Fund's performance
information in a bar chart and an average annual total returns table. The
information provides some indication of the risks of investing in the Fund by
showing changes in the Fund's performance from year to year and by showing how
the Fund's average annual total returns compare with those of a broad measure of
market performance. Index reflects no deduction for fees, expenses or taxes. The
Fund's past performance (before and after taxes) is not necessarily an
indication of how the Fund will perform in the future. On December 30, 2011, the
Fund's investment strategy, including its 80% policy, changed. The performance
information below, prior to that date, is attributable to the Fund's previous
investment strategy. Updated performance for the Fund is available at
http://globalam-us.ubs.com/corpweb/performance.do.

After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on an investor's tax situation and may
differ from those shown. In addition, the after-tax returns shown are not
relevant to investors who hold Fund shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns for
other classes will vary from the Class Y shares' after-tax returns shown.
Performance, Information Illustrates Variability of Returns rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information that follows shows the Fund's performance information in a bar chart and an average annual total returns table. The information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns compare with those of a broad measure of market performance.
Performance, Availability Website Address rr_PerformanceAvailabilityWebSiteAddress http://globalam-us.ubs.com/corpweb/performance.do
Performance, Past Does Not Indicate Future rr_PerformancePastDoesNotIndicateFuture The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart, Heading rr_BarChartHeading UBS U.S. Equity Opportunity Fund Annual Total Returns of Class Y Shares (2002 is the Fund’s first full year of operations)
Bar Chart, Closing rr_BarChartClosingTextBlock
Total return January 1 - September 30, 2011: (15.30)%
Best quarter during calendar years shown -- 2Q 2009: 19.76%
Worst quarter during calendar years shown -- 4Q 2008: (25.45)%
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes Index reflects no deduction for fees, expenses or taxes.
Performance Table, Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table, Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table, One Class of after Tax Shown rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns for other classes will vary from the Class Y shares' after-tax returns shown.
Average Annual Returns, Caption rr_AverageAnnualReturnCaption Average annual total returns (for the periods ended December 31, 2010)
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | Russell 1000 Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Average Annual Returns, Label rr_AverageAnnualReturnLabel Russell 1000 Index [1]
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 16.10%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 2.59%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception    [2]
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | Russell 1000 Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Average Annual Returns, Label rr_AverageAnnualReturnLabel Russell 1000 Value Index
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 15.51%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 1.28%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception    [2]
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.50%
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (1.00%)
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.66%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.62% [3]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.41%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 1.21% [3],[4]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 667
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 995
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 1,346
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 2,334
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class A Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 4.46%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.96%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.47%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 07, 2001
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS B
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) rr_MaximumDeferredSalesChargeOverOfferingPrice 5.00%
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (1.00%)
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.78%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 2.49% [3]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.53%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 1.96% [3],[4]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 699
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 1,025
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 1,478
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 2,373
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 199
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 725
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,278
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,373
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class B Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 4.74%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.83%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.96%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2001
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS C
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00%
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (1.00%)
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.70%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 2.41% [3]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.45%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 1.96% [3],[4]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 299
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 709
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 1,245
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 2,712
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 199
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 709
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,245
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,712
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class C Return before taxes [5]
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 8.49%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.58%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.61%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 12, 2001
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS Y
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (1.00%)
Management fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.78%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.49% [3]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.53%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 0.96% [3],[4]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 98
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 419
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 763
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 1,734
Annual Return 2002 rr_AnnualReturn2002 (15.56%)
Annual Return 2003 rr_AnnualReturn2003 30.85%
Annual Return 2004 rr_AnnualReturn2004 14.25%
Annual Return 2005 rr_AnnualReturn2005 10.00%
Annual Return 2006 rr_AnnualReturn2006 18.57%
Annual Return 2007 rr_AnnualReturn2007 0.47%
Annual Return 2008 rr_AnnualReturn2008 (40.09%)
Annual Return 2009 rr_AnnualReturn2009 23.00%
Annual Return 2010 rr_AnnualReturn2010 10.92%
Year to Date Return, Label rr_YearToDateReturnLabel Total return January 1 - September 30, 2011:
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2011
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn (15.30%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter during calendar years shown
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.76%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter during calendar years shown
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.45%)
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class Y Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 10.92%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (0.53%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 3.19%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 29, 2001
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS Y | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class Y Return after taxes on distributions
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 10.73%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.72%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.01%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 29, 2001
UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS Y | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class Y Return after taxes on distributions and sale of fund shares
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.34%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (0.47%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.68%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 29, 2001
[1] Effective December 30, 2011, the Fund's performance benchmark changed from the Russell 1000 Value Index to the Russell 1000 Index in connection with changes to the Fund's investment strategies effective on that date.
[2] Average annual total returns for the Russell 1000 Index for the life of each class were as follows: Class A--3.44%; Class B--3.86%; Class C--3.65%; Class Y--2.71%. Average annual total returns for the Russell 1000 Value Index for the life of each class were as follows: Class A--4.30%; Class B--4.65%; Class C--4.50%; Class Y--3.57%.
[3] Since the "Acquired fund fees and expenses" are not directly borne by the Fund, they are not reflected in the Fund's financial statements, and therefore the amounts listed in "Total annual fund operating expenses" and "Total annual fund operating expenses after management fee waiver/expense reimbursements" will differ from those presented in the Financial highlights.
[4] The Trust, with respect to the Fund, and UBS Global Asset Management (Americas) Inc., the Fund's investment advisor ("UBS Global AM (Americas)" or the "Advisor"), have entered into a written agreement pursuant to which the Advisor has agreed to waive a portion of its management fees and/or to reimburse expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses) to the extent necessary so that the Fund's ordinary operating expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses), through the period ending October 27, 2013, do not exceed 1.20% for Class A shares, 1.95% for Class B shares, 1.95% for Class C shares and 0.95% for Class Y shares. Pursuant to the written agreement, the Advisor is entitled to be reimbursed for any fees it waives and expenses it reimburses for a period of three years following such fee waivers and expense reimbursements to the extent that such reimbursement of the Advisor by the Fund will not cause the Fund to exceed any applicable expense limit that is in place for the Fund.
[5] Prior to September 30, 2003, Class C shares were subject to a maximum front-end sales charge of 1.00%; this front-end sales charge is not reflected in the average annual total returns presented for the Class C shares shown above.
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UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund
UBS U.S. Equity Opportunity Fund (formerly, UBS U.S. Large Cap Value Equity Fund)
Investment objective
The Fund seeks to maximize total return, consisting of capital appreciation and

current income.
Fees and expenses
These tables describe the fees and expenses that you may pay if you buy and hold

shares of the Fund. You may qualify for a sales charge waiver or discount if you

and your family invest, or agree to invest in the future, at least $50,000 in

the Fund. More information about these and other discounts and waivers, as well

as eligibility requirements for each share class, is available from your

financial advisor and in "Managing your fund account" on page 9 of the Fund's

prospectus and in "Reduced sales charges, additional purchase, exchange and

redemption information and other services" on page 54 of the Fund's statement of

additional information ("SAI").
Shareholder fees (fees paid directly from your investment)
Shareholder Fees UBS U.S. Equity Opportunity Fund
CLASS A
CLASS B
CLASS C
CLASS Y
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) 5.50% none none none
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) none 5.00% 1.00% none
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) 1.00% 1.00% 1.00% 1.00%
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses UBS U.S. Equity Opportunity Fund
CLASS A
CLASS B
CLASS C
CLASS Y
Management fees 0.70% 0.70% 0.70% 0.70%
Distribution and/or service (12b-1) fees 0.25% 1.00% 1.00% none
Other expenses 0.66% 0.78% 0.70% 0.78%
Acquired fund fees and expenses 0.01% 0.01% 0.01% 0.01%
Total annual fund operating expenses [1] 1.62% 2.49% 2.41% 1.49%
Less management fee waiver/expense reimbursements 0.41% 0.53% 0.45% 0.53%
Total annual fund operating expenses after management fee waiver/expense reimbursements [1][2] 1.21% 1.96% 1.96% 0.96%
[1] Since the "Acquired fund fees and expenses" are not directly borne by the Fund, they are not reflected in the Fund's financial statements, and therefore the amounts listed in "Total annual fund operating expenses" and "Total annual fund operating expenses after management fee waiver/expense reimbursements" will differ from those presented in the Financial highlights.
[2] The Trust, with respect to the Fund, and UBS Global Asset Management (Americas) Inc., the Fund's investment advisor ("UBS Global AM (Americas)" or the "Advisor"), have entered into a written agreement pursuant to which the Advisor has agreed to waive a portion of its management fees and/or to reimburse expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses) to the extent necessary so that the Fund's ordinary operating expenses (excluding expenses incurred through investment in other investment companies, interest, taxes, brokerage commissions and extraordinary expenses), through the period ending October 27, 2013, do not exceed 1.20% for Class A shares, 1.95% for Class B shares, 1.95% for Class C shares and 0.95% for Class Y shares. Pursuant to the written agreement, the Advisor is entitled to be reimbursed for any fees it waives and expenses it reimburses for a period of three years following such fee waivers and expense reimbursements to the extent that such reimbursement of the Advisor by the Fund will not cause the Fund to exceed any applicable expense limit that is in place for the Fund.
Example
This example is intended to help you compare the cost of investing in the Fund

with the cost of investing in other mutual funds. The example assumes that you

invest $10,000 in the Fund for the time periods indicated and then sell all of

your shares at the end of those periods unless otherwise stated. The example

also assumes that your investment has a 5% return each year and that the Fund's

operating expenses remain the same. The costs described in the example reflect

the expenses of the Fund that would result from the contractual fee waiver and

expense reimbursement agreement with the Advisor for the first year only.

Although your actual costs may be higher or lower, based on these assumptions,

your costs would be:
Expense Example UBS U.S. Equity Opportunity Fund (USD $)
Expense Example, With Redemption, 1 Year
Expense Example, With Redemption, 3 Years
Expense Example, With Redemption, 5 Years
Expense Example, With Redemption, 10 Years
CLASS A
667 995 1,346 2,334
CLASS B
699 1,025 1,478 2,373
CLASS C
299 709 1,245 2,712
CLASS Y
98 419 763 1,734
Expense Example, No Redemption UBS U.S. Equity Opportunity Fund (USD $)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
CLASS B
199 725 1,278 2,373
CLASS C
199 709 1,245 2,712
Portfolio turnover
The Fund pays transaction costs, such as commissions, when it buys and sells

securities (or "turns over" its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes when Fund

shares are held in a taxable account. These costs, which are not reflected in

annual fund operating expenses or in the example, affect the Fund's performance.

During the most recent fiscal year, the Fund's portfolio turnover rate was 85%

of the average value of its portfolio.
Principal strategies
Principal investments



Under normal circumstances, the Fund invests at least 80% of its net assets

(plus borrowings for investment purposes, if any) in equity securities of US

companies. The Fund primarily invests in large capitalization companies, but may

invest in companies of any size. The Fund may invest up to 20% of its net assets

in securities of foreign companies in both developed and emerging markets.

Investments in equity securities may include, but are not limited to,

dividend-paying securities, common stock, preferred stock, shares of investment

companies, convertible securities, warrants and rights.



The Fund may, but is not required to, use exchange-traded or over-the-counter

derivative instruments for risk management purposes or as part of the Fund's

investment strategies. The derivatives in which the Fund may invest include

futures on indices or currencies and foward currency agreements, which may be

used for risk management purposes to manage or adjust the risk profile of the

Fund. Futures on currencies and forward currency agreements may also be used to

hedge against a specific currency. In addition, futures on indices may be used

for investment (non-hedging) purposes to earn income; to enhance returns; to

replace more traditional direct investments; or to obtain exposure to certain

markets.



Management process



In selecting securities, the Advisor focuses on, among other things, identifying

discrepancies between a security's fundamental value and its market price. In

this context, the fundamental value of a given security is the Advisor's

assessment of what a security is worth. The Fund will select a security whose

fundamental value it estimates to be greater than its market value at any given

time. For each stock under analysis, the Advisor bases its estimates of value

upon economic, industry and company analysis, as well as upon a company's

management team, competitive advantage and core competencies. The Advisor then

compares its assessment of a security's value against the prevailing market

prices with the aim of constructing a focused portfolio of stocks with

attractive relative price/value characteristics. Although the Fund is a

diversified fund under the Investment Company Act of 1940, the Fund employs a

focused investment strategy that may result in the Fund investing in a lesser

number of issuers than other equity mutual funds.
Main risks
All investments carry a certain amount of risk and the Fund cannot guarantee

that it will achieve its investment objective. You may lose money by investing

in the Fund. An investment in the Fund is not a deposit of the bank and is not

insured or guaranteed by the Federal Deposit Insurance Corporation or any other

government agency. Below are some of the specific risks of investing in the

Fund.



Market risk: The market value of the Fund's investments may fluctuate, sometimes

rapidly or unpredictably, as the stock and bond markets fluctuate. Market risk

may affect a single issuer, industry, or sector of the economy, or it may affect

the market as a whole.



Management risk: The risk that the investment strategies, techniques and risk

analyses employed by the Advisor may not produce the desired results.



Foreign investing risk: The value of the Fund's investments in foreign

securities may fall due to adverse political, social and economic developments

abroad and due to decreases in foreign currency values relative to the US

dollar. Investments in foreign government bonds involve special risks because

the Fund may have limited legal recourse in the event of default. Also, foreign

securities are sometimes less liquid and more difficult to sell and to value

than securities of US issuers. These risks are greater for investments in

emerging market issuers. In addition, investments in emerging market is

suers may decline in value because of unfavorable foreign government actions,

greater risks of political instability or the absence of accurate information

about emerging market issuers.



Limited capitalization risk: The risk that securities of smaller capitalization

companies tend to be more volatile and less liquid than securities of larger

capitalization companies. This can have a disproportionate effect on the market

price of smaller capitalization companies and affect the Fund's ability to

purchase or sell these securities. In general, smaller capitalization companies

are more vulnerable than larger companies to adverse business or economic

developments and they may have more limited resources.



Limited number of issuers risk: The Fund may invest in a limited number of

issuers compared to other mutual funds and, consequently, may invest a greater

portion of its assets in one or more issuers than other mutual funds. The Fund,

therefore, may be more sensitive to a single economic, business, political,

regulatory or other occurrence, which may result in greater fluctuation in the

value of the Fund's shares and to a greater risk of loss.



Derivatives risk: The value of "derivatives"--so called because their value

"derives" from the value of an underlying asset, reference rate or index--may

rise or fall more rapidly than other investments. When using derivatives for

non-hedging purposes, it is possible for the Fund to lose more than the amount

it invested in the derivative. The risks of investing in derivative instruments

also include market and management risks. In addition, non-exchange traded

derivatives may be subject to liquidity risk, credit risk and mispricing or

valuation complexity. These derivatives risks are different from, and may be

greater than, the risks associated with investing directly in securities and

other instruments.



Leverage risk associated with financial instruments: The use of financial

instruments to increase potential returns, including derivatives used for

investment (non-hedging) purposes, may cause the Fund to be more volatile than

if it had not been leveraged. The use of leverage may also accelerate the

velocity of losses and can result in losses to the Fund that exceed the amount

originally invested.
Performance
Risk/return bar chart and table



The performance information that follows shows the Fund's performance

information in a bar chart and an average annual total returns table. The

information provides some indication of the risks of investing in the Fund by

showing changes in the Fund's performance from year to year and by showing how

the Fund's average annual total returns compare with those of a broad measure of

market performance. Index reflects no deduction for fees, expenses or taxes. The

Fund's past performance (before and after taxes) is not necessarily an

indication of how the Fund will perform in the future. On December 30, 2011, the

Fund's investment strategy, including its 80% policy, changed. The performance

information below, prior to that date, is attributable to the Fund's previous

investment strategy. Updated performance for the Fund is available at

http://globalam-us.ubs.com/corpweb/performance.do.



After-tax returns are calculated using the historical highest individual federal

marginal income tax rates and do not reflect the impact of state and local

taxes. Actual after-tax returns depend on an investor's tax situation and may

differ from those shown. In addition, the after-tax returns shown are not

relevant to investors who hold Fund shares through tax-deferred arrangements,

such as 401(k) plans or individual retirement accounts. After-tax returns for

other classes will vary from the Class Y shares' after-tax returns shown.
UBS U.S. Equity Opportunity Fund Annual Total Returns of Class Y Shares (2002 is the Fund’s first full year of operations)
Bar Chart
Total return January 1 - September 30, 2011: (15.30)%

Best quarter during calendar years shown -- 2Q 2009: 19.76%

Worst quarter during calendar years shown -- 4Q 2008: (25.45)%
Average annual total returns (for the periods ended December 31, 2010)
Average Annual Total Returns UBS U.S. Equity Opportunity Fund
Average Annual Returns, Label
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
CLASS A
Class A Return before taxes 4.46% (1.96%) 2.47% Dec. 07, 2001
CLASS B
Class B Return before taxes 4.74% (1.83%) 2.96% Nov. 08, 2001
CLASS C
Class C Return before taxes [1] 8.49% (1.58%) 2.61% Dec. 12, 2001
CLASS Y
Class Y Return before taxes 10.92% (0.53%) 3.19% Jun. 29, 2001
After Taxes on Distributions CLASS Y
Class Y Return after taxes on distributions 10.73% (1.72%) 2.01% Jun. 29, 2001
After Taxes on Distributions and Sales CLASS Y
Class Y Return after taxes on distributions and sale of fund shares 7.34% (0.47%) 2.68% Jun. 29, 2001
Russell 1000 Index
Russell 1000 Index [2] 16.10% 2.59%    [3]  
Russell 1000 Value Index
Russell 1000 Value Index 15.51% 1.28%    [3]  
[1] Prior to September 30, 2003, Class C shares were subject to a maximum front-end sales charge of 1.00%; this front-end sales charge is not reflected in the average annual total returns presented for the Class C shares shown above.
[2] Effective December 30, 2011, the Fund's performance benchmark changed from the Russell 1000 Value Index to the Russell 1000 Index in connection with changes to the Fund's investment strategies effective on that date.
[3] Average annual total returns for the Russell 1000 Index for the life of each class were as follows: Class A--3.44%; Class B--3.86%; Class C--3.65%; Class Y--2.71%. Average annual total returns for the Russell 1000 Value Index for the life of each class were as follows: Class A--4.30%; Class B--4.65%; Class C--4.50%; Class Y--3.57%.
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XML 14 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
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Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2011
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Document Creation Date dei_DocumentCreationDate Dec. 29, 2011
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UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
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UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS B
 
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UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS C
 
Risk Return [Abstract] rr_RiskReturnAbstract  
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UBS U.S. Equity Opportunity Fund (Prospectus Summary) | UBS U.S. Equity Opportunity Fund | CLASS Y
 
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