0001104659-12-064573.txt : 20120920 0001104659-12-064573.hdr.sgml : 20120920 20120920151323 ACCESSION NUMBER: 0001104659-12-064573 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20120920 DATE AS OF CHANGE: 20120920 EFFECTIVENESS DATE: 20120920 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: 121101950 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: 121101951 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 S000029392 UBS Market Neutral Multi-Strategy Fund C000090281 CLASS A C000090282 CLASS C C000090283 CLASS Y 485BPOS 1 a12-11340_23485bpos.htm 485BPOS

 

As filed with the U.S. Securities and Exchange Commission on September 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. 104

x

 

 

and/or

 

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

x

Amendment No. 105

 

 

(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. 104/105 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 September 2012.

 

 

THE UBS FUNDS

 

 

 

 

 

By:

/s/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

 

 

 

 

 

/s/ Mark E. Carver

 

President and Principal Executive Officer

 

September 20, 2012

Mark E. Carver*

 

 

 

 

 

 

 

 

 

/s/ Frank K. Reilly

 

Chairman and Trustee

 

September 20, 2012

Frank K. Reilly*

 

 

 

 

 

 

 

 

 

/s/ Shawn Lytle

 

Trustee

 

September 20, 2012

Shawn Lytle*

 

 

 

 

 

 

 

 

 

/s/ Edward M. Roob

 

Trustee

 

September 20, 2012

Edward M. Roob*

 

 

 

 

 

 

 

 

 

/s/ Adela Cepeda

 

Trustee

 

September 20, 2012

Adela Cepeda*

 

 

 

 

 

 

 

 

 

/s/ J. Mikesell Thomas

 

Trustee

 

September 20, 2012

J. Mikesell Thomas*

 

 

 

 

 

 

 

 

 

/s/ Abbie J. Smith

 

Trustee

 

September 20, 2012

Abbie J. Smith*

 

 

 

 

 

 

 

 

 

/s/ John J. Murphy

 

Trustee

 

September 20, 2012

John J. Murphy*

 

 

 

 

 

 

 

 

 

/s/ Thomas Disbrow

 

Treasurer and Principal Accounting Officer

 

September 20, 2012

Thomas Disbrow*

 

 

 

 

 

 

* By:

Joseph J. Allessie

 

 

Joseph J. Allessie, Attorney-in-Fact

 

 

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

 



 

EXHIBIT INDEX

 

Index No.

 

Description of 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 ck0000886244-20111231.xml XBRL INSTANCE DOCUMENT UBS FUNDS 2012-09-05 2012-09-05 2011-12-31 485BPOS 0000886244 false 2012-09-05 <div style="display:none">~ http://www.ubs.com/role/PerformanceTableData_S000029392Member 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_S000029392Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.ubs.com/role/ShareholderFeesData_S000029392Member 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) 4.60 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 Equity Long-Short Multi-Strategy Fund Annual Total Returns Of Class Y Shares (2011 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 the Fund's performance for the year 2011 and by showing how the Fund's average annual total returns compare with those of a broad measure of market performance. <tt>Total return January 1 - June 30, 2012: (1.56)%<br />Best quarter during calendar year shown--4Q 2011: (0.15)%<br />Worst quarter during calendar year shown--3Q 2011: (0.82)%</tt> <tt>Principal investments<br /> <br />Under normal circumstances, the Fund invests at least 80% of its net <br />assets (plus borrowings for investment purposes, if any) in equity <br />and/or equity-related instruments. Equity-related instruments include <br />securities or other instruments that derive their value from equity <br />securities and may include such instruments as short sales of equity <br />securities, swaps on equity securities, and futures and options on <br />equity securities. Investments by the Fund in equity securities may <br />include, but are not limited to, common stock and preferred stock <br />of issuers in developed countries (including the United States) and <br />emerging markets. The Fund's equity investments may include large, <br />intermediate and small capitalization companies. The Fund will maintain <br />both long positions and short positions in equity securities and <br />securities with equity-like characteristics. The Fund also may invest <br />in securities convertible into equity securities.<br /> <br />The Fund may, but is not required to, use exchange-traded or over-the-<br />counter derivative instruments for risk management purposes or as part <br />of the Fund's investment strategies. The derivatives in which the Fund <br />may invest include options, futures, forward agreements, swap agreements <br />(specifically, total return and currency swaps), equity participation <br />notes and equity linked notes. All of these derivatives may be used for <br />risk management purposes, such as hedging against a specific security or <br />currency, or to manage or adjust the risk profile of the Fund. In addition, <br />all of the derivative instruments listed above may be used for investment <br />(non-hedging) purposes to earn income; to enhance returns; to replace more <br />traditional direct investments; to obtain exposure to certain markets; or to <br />establish net short positions for individual markets, currencies or securities.<br /> <br />Under certain market conditions, the Fund may invest in companies at the <br />time of their initial public offering ("IPO"). To the extent permitted by <br />the Investment Company Act of 1940, as amended (the "1940 Act"), the Fund <br />may borrow money from banks to purchase investments for the Fund.<br /> <br />Management process<br /> <br />The Fund seeks to maximize total returns by allocating its assets among one <br />or more distinct equity investment strategies (each a "Fund component" and<br />together, the "Fund components"), which are managed by portfolio management<br />teams at the Advisor. Each Fund component is unique in terms of the source of<br />its investment insight, its geographic focus, or both. A Fund component will<br />purchase securities long that it believes will outperform the market, other <br />Fund securities or both, and sell securities short that are expected to <br />underperform the market, other Fund securities or both. The Fund engages in <br />its long/short strategies in order to generate returns with low correlations <br />to equity markets.<br /> <br />The Advisor selects Fund components and allocates the Fund's assets among the<br />Fund components based on each Fund component's expected contribution to the <br />risk adjusted investment return of the Fund. Fund components are chosen by the<br />Advisor in part because the Fund components demonstrate a low correlation of<br />returns versus equity markets and among each other. The Advisor intends to<br />allocate assets among the Fund components with the goal of providing returns <br />for the Fund that are a function of the Advisor's stock-level investment <br />insights rather than a function of broad market movements.<br /> <br />In deciding the Fund's allocation to each Fund component, the Advisor utilizes<br />analytical tools that enable the Advisor to view the entire investment portfolio<br />of the Fund across all underlying components in order to best assess the <br />allocation of Fund assets among these components based on alpha potential and <br />contribution to volatility and to monitor the impact of individual stock <br />positions, both long and short positions, on the Fund's entire portfolio.<br /> <br />The Fund components utilize fundamental valuation, quantitative research or <br />a combination of both to construct a portfolio. The investment decisions for<br />certain Fund components are based on price/value discrepancies as identified <br />by the Advisor's fundamental valuation process. In selecting securities utilizing<br />the fundamental valuation process, the Advisor bases its estimates of value upon<br />economic, industry and company analysis, as well as upon a company's management<br />team, competitive advantage and core competencies. The investment decisions for<br />other Fund components are based on investment opportunities generated by<br />quantitative research techniques that systematically exploit market anomalies <br />to provide consistent excess returns for the Fund.<br /> <br />The Fund's expected net equity market exposure (long market value - short market <br />value) will typically range from 10% to 50%; however, in response to market<br />conditions the Fund may adjust its net equity market exposure. The Fund's net<br />equity market exposure may range from -25% to +75% and at the same time will<br />comply with all leverage restrictions required by Section 18 of the 1940 Act <br />and subsequent determinations of the SEC and any other regulatory limitations. <br />The Fund may hold a substantial portion of its total assets in cash when the <br />Fund maintains a net short equity market position. By taking both long and <br />short positions, the Fund seeks to provide some protection in down markets <br />when compared to a fund that takes only long positions.</tt> UBS Equity Long-Short Multi-Strategy Fund (formerly, UBS Market Neutral Multi-Strategy Fund) Average annual total returns (for the periods ended December 31, 2011) Portfolio turnover <tt>All investments carry a certain amount of risk and the Fund cannot guarantee<br />that it will achieve its investment objective. You may lose money by investing<br />in the Fund. An investment in the Fund is not a deposit of the bank and is not<br />insured or guaranteed by the Federal Deposit Insurance Corporation or any <br />other government agency. Below are some of the specific risks of investing in <br />the Fund.<br /> <br />Management risk: The risk that the investment strategies, techniques and risk<br />analyses employed by the Advisor may not produce the desired results.<br /> <br />Short sales risk: There are certain unique risks associated with the use of<br />short sales strategies. When selling a security short, the Advisor will sell <br />a security it does not own at the then-current market price and then borrow <br />the security to deliver to the buyer. The Fund is then obligated to buy the <br />security on a later date so it can return the security to the lender. Short <br />sales therefore involve the risk that the Fund will incur a loss by <br />subsequently buying a security at a higher price than the price at which <br />the Fund previously sold the security short. This would occur if the securities <br />lender required the Fund to deliver the securities the Fund had borrowed <br />at the commencement of the short sale and the Fund was unable to either <br />purchase the security at a favorable price or to borrow the security from <br />another securities lender. If this occurs at a time when other short sellers <br />of the security also want to close out their positions, a "short squeeze" can <br />occur. A short squeeze occurs when demand is greater than supply for the <br />security sold short. Moreover, because a Fund's loss on a short sale arises <br />from increases in the value of the security sold short, such loss, like the price <br />of the security sold short, is theoretically unlimited. By contrast, a Fund's <br />loss on a long position arises from decreases in the value of the security and <br />therefore is limited by the fact that a security's value cannot drop below zero. <br />It is possible that the Fund's securities held long will decline in value at the <br />same time that the value of the securities sold short increases, thereby <br />increasing the potential for loss.<br /> <br />Foreign investing risk: The value of the Fund's investments in foreign securities <br />may fall due to adverse political, social and economic developments abroad <br />and due to decreases in foreign currency values relative to the US dollar. Also, <br />foreign securities are sometimes less liquid and more difficult to sell and to <br />value than securities of US issuers. These risks are greater for investments in <br />emerging market issuers. In addition, investments in emerging market issuers <br />may decline in value because of unfavorable foreign government actions, <br />greater risks of political instability or the absence of accurate information about <br />emerging market issuers.<br /> <br />Multi-strategy risk: The risk that the Fund may allocate assets to a Fund<br />component that underperforms other strategy types.<br /> <br />Market risk: The risk that the market value of the Fund's investments may<br />fluctuate, sometimes rapidly or unpredictably, as the stock and bond markets<br />fluctuate. Market risk may affect a single issuer, industry, or sector of the<br />economy, or it may affect the market as a whole.<br /> <br />Derivatives risk: The value of "derivatives"--so called because their value<br />"derives" from the value of an underlying asset, reference rate or index-may<br />rise or fall more rapidly than other investments. When using derivatives for<br />non-hedging purposes, it is possible for the Fund to lose more than the amount<br />it invested in the derivative. The risks of investing in derivative instruments <br />also include market and management risks. In addition, many types of swaps <br />and other non-exchange traded derivatives may be subject to liquidity risk, <br />credit risk and mispricing or valuation complexity. These derivatives risks <br />are different from, and may be greater than, the risks associated with <br />investing directly in securities and other instruments.<br /> <br />Leverage risk associated with financial instruments: The use of financial<br />instruments to increase potential returns, including derivatives used for<br />investment (non-hedging) purposes, may cause the Fund to be more volatile <br />than if it had not been leveraged. The use of leverage may also accelerate <br />the velocity of losses and can result in losses to the Fund that exceed the <br />amount originally invested.<br /> <br />Leverage risk associated with borrowing: The Fund may borrow money from banks <br />to purchase investments for the Fund, which is a form of leverage. If the Fund<br />borrows money to purchase securities and the Fund's investments decrease in<br />value, the Fund's losses will be greater than if the Fund did not borrow money<br />for investment purposes. In addition, if the return on an investment purchased<br />with borrowed funds is not sufficient to cover the cost of borrowing, then the<br />net income of the Fund would be less than if borrowing were not used.<br /> <br />Limited capitalization risk: The risk that securities of smaller capitalization <br />companies tend to be more volatile and less liquid than securities of larger <br />capitalization companies. This can have a disproportionate effect on the <br />market price of smaller capitalization companies and affect the Fund's ability to <br />purchase or sell these securities. In general, smaller capitalization companies <br />are more vulnerable than larger companies to adverse business or economic <br />developments and they may have more limited resources.<br /> <br />IPOs risk: The purchase of shares issued in IPOs may expose the Fund to the<br />risks associated with issuers that have no operating history as public companies, <br />as well as to the risks associated with the sectors of the market in which the <br />issuer operates. The market for IPO shares may be volatile, and share prices of <br />newly-public companies may fluctuate significantly over a short period of time.</tt> 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 <tt>Risk/return bar chart and table<br /> <br />The performance information that follows shows the Fund's performance<br />information in a bar chart and an average annual total returns table. The <br />information provides some indication of the risks of investing in the Fund <br />by showing the Fund's performance for the year 2011 and by showing how the <br />Fund's average annual total returns compare with those of a broad measure <br />of market performance. Index reflects no deduction for fees, expenses or <br />taxes. The Fund's past performance (before and after taxes) is not <br />necessarily an indication of how the Fund will perform in the future. On <br />September 5, 2012 the Fund's investment strategy changed. The performance <br />information below, prior to that date, is attributable to the Fund's <br />previous investment strategy. Updated performance for the Fund is available <br />at http://globalam-us.ubs.com/corpweb/performance.do.<br /> <br />After-tax returns are calculated using the historical highest individual <br />federal marginal income tax rates and do not reflect the impact of state <br />and local taxes. Actual after-tax returns depend on an investor's tax <br />situation and may differ from those shown. In addition, the after-tax <br />returns shown are not relevant to investors who hold Fund shares <br />through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts. After-tax returns for other classes <br />will vary from the Class Y shares' after-tax returns shown.</tt> <tt>These tables describe the fees and expenses that you may pay if you buy and hold<br />shares of the Fund. You may qualify for a sales charge waiver or discount if you<br />and your family invest, or agree to invest in the future, at least $50,000 in<br />the Fund. More information about these and other discounts and waivers, as well<br />as eligibility requirements for each share class, is available from your<br />financial advisor and in "Managing your fund account" on page 12 of the Fund's<br />prospectus and in "Reduced sales charges, additional purchase, exchange and<br />redemption information and other services" on page 55 of the Fund's statement <br />of additional information ("SAI").</tt> <div style="display:none">~ http://www.ubs.com/role/OperatingExpensesData_S000029392Member 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) <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 460%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.ubs.com/role/ExpenseExample_S000029392Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.ubs.com/role/BarChartData_S000029392Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks to preserve and grow capital with low correlation to the equity<br />markets.</tt> <tt>This example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then sell all of<br />your shares at the end of those periods unless otherwise stated. The example<br />also assumes that your investment has a 5% return each year and that the Fund's<br />operating expenses remain the same. The costs described in the example reflect<br />the expenses of the Fund that would result from the contractual fee waiver and<br />expense reimbursement agreement with the Advisor for the first year only.<br />Although your actual costs may be higher or lower, based on these assumptions,<br />your costs would be:</tt> Index reflects no deduction for fees, expenses or taxes. BMNYX -0.0244 2010-06-30 -0.0156 0.0001 0.0000 2011-09-30 -0.0082 -0.0101 4101 -0.0100 1944 -0.0015 -0.0238 0.0269 0.0125 2013-10-27 Class Y Return before taxes 297 2011-12-31 1112 0.0000 0.0294 0.0395 Total return January 1 - June 30, 2012: 0.0126 -0.0238 Worst quarter during calendar year shown Best quarter during calendar year shown 0.0000 2012-06-30 0.0143 -0.0207 2010-06-30 -0.0153 Class Y Return after taxes on distributions and sale of fund shares -0.0244 2010-06-30 -0.0238 Class Y Return after taxes on distributions BMNCX -0.0338 2010-06-30 0.0001 0.0100 -0.0100 4901 -0.0100 2395 -0.0427 0.0268 0.0125 2013-10-27 4901 1395 2395 Class C Return before taxes 496 1395 0.0100 0.0394 0.0494 396 0.0125 0.0000 0.0143 BMNAX -0.0629 2010-06-30 0.0001 0.0000 -0.0113 4711 -0.0100 2539 -0.0791 0.0281 0.0125 2013-10-27 Class A Return before taxes 854 1691 0.0025 0.0319 0.0432 0.0138 0.0550 0.0143 0.0010 2010-06-30 0.0008 Citigroup Three-Month US Treasury Bill Index 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberck0000886244:RRINDEX00001Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberck0000886244:C000090281Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberck0000886244:C000090282Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberrr:AfterTaxesOnDistributionsMemberck0000886244:C000090283Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000886244:C000090283Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Memberck0000886244:C000090283Member 2012-09-05 2012-09-05 0000886244 ck0000886244:SummaryS000029392Memberck0000886244:S000029392Member 2012-09-05 2012-09-05 0000886244 2012-09-05 2012-09-05 pure iso4217:USD Due to the Fund's strategy change, the Fund has restated the "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" based on the anticipated expenses for the new strategy. These "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" are based on estimates and may vary based on actual investments. The actual "Dividend expense and security loan fees for securities sold short" for the Fund's fiscal year ended June 30, 2011 were 2.38% for Class A shares, 2.44% for Class C shares and 2.32% for Class Y shares. The actual "Acquired fund fees and expenses" for the Fund's fiscal year ended June 30, 2011 were 0.04% for Class A shares, 0.04% for Class C shares and 0.04% for Class Y shares. The actual "Total annual fund operating expenses" for the Fund's fiscal year ended June 30, 2011 were 5.30% for Class A shares, 5.98% for Class C shares and 4.87% for Class Y shares. The actual "Total annual fund operating expenses after management fee waiver/expense reimbursements" for the Fund's fiscal year ended June 30, 2011 were 4.17% for Class A shares, 4.98% for Class C shares and 3.86% for Class Y shares. 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 ompanies, interest, taxes, brokerage commissions, extraordinary expenses, dividend expense and security loan fees for securities sold short) 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, extraordinary expenses, dividend expense and security loan fees for securities sold short), through the period ending October 27, 2013, do not exceed 1.75% for Class A shares, 2.50% for Class C shares and 1.50% 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. The fee waiver/expense reimbursement agreement may be terminated by the Fund's Board of Trustees at any time and also will terminate automatically upon the expiration or termination of the Fund's advisory contract with the Advisor. Upon termination of the fee waiver/expense reimbursement agreement, however, the UBS Global AM (Americas)'s three year recoupment rights will survive. 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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Sep. 05, 2012
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return, Heading rr_RiskReturnHeading UBS Equity Long-Short Multi-Strategy Fund (formerly, UBS Market Neutral Multi-Strategy Fund)
Investment Objective, Heading rr_ObjectiveHeading Investment objective
investment Objective, Primary rr_ObjectivePrimaryTextBlock The Fund seeks to preserve and grow capital with low correlation to the equity
markets.
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 12 of the Fund's
prospectus and in "Reduced sales charges, additional purchase, exchange and
redemption information and other services" on page 55 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 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 460%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 460.00%
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
and/or equity-related instruments. Equity-related instruments include
securities or other instruments that derive their value from equity
securities and may include such instruments as short sales of equity
securities, swaps on equity securities, and futures and options on
equity securities. Investments by the Fund in equity securities may
include, but are not limited to, common stock and preferred stock
of issuers in developed countries (including the United States) and
emerging markets. The Fund's equity investments may include large,
intermediate and small capitalization companies. The Fund will maintain
both long positions and short positions in equity securities and
securities with equity-like characteristics. The Fund also may invest
in securities convertible into equity securities.

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 options, futures, forward agreements, swap agreements
(specifically, total return and currency swaps), equity participation
notes and equity linked notes. All of these derivatives may be used for
risk management purposes, such as hedging against a specific security or
currency, or to manage or adjust the risk profile of the Fund. In addition,
all of the derivative instruments listed above may be used for investment
(non-hedging) purposes to earn income; to enhance returns; to replace more
traditional direct investments; to obtain exposure to certain markets; or to
establish net short positions for individual markets, currencies or securities.

Under certain market conditions, the Fund may invest in companies at the
time of their initial public offering ("IPO"). To the extent permitted by
the Investment Company Act of 1940, as amended (the "1940 Act"), the Fund
may borrow money from banks to purchase investments for the Fund.

Management process

The Fund seeks to maximize total returns by allocating its assets among one
or more distinct equity investment strategies (each a "Fund component" and
together, the "Fund components"), which are managed by portfolio management
teams at the Advisor. Each Fund component is unique in terms of the source of
its investment insight, its geographic focus, or both. A Fund component will
purchase securities long that it believes will outperform the market, other
Fund securities or both, and sell securities short that are expected to
underperform the market, other Fund securities or both. The Fund engages in
its long/short strategies in order to generate returns with low correlations
to equity markets.

The Advisor selects Fund components and allocates the Fund's assets among the
Fund components based on each Fund component's expected contribution to the
risk adjusted investment return of the Fund. Fund components are chosen by the
Advisor in part because the Fund components demonstrate a low correlation of
returns versus equity markets and among each other. The Advisor intends to
allocate assets among the Fund components with the goal of providing returns
for the Fund that are a function of the Advisor's stock-level investment
insights rather than a function of broad market movements.

In deciding the Fund's allocation to each Fund component, the Advisor utilizes
analytical tools that enable the Advisor to view the entire investment portfolio
of the Fund across all underlying components in order to best assess the
allocation of Fund assets among these components based on alpha potential and
contribution to volatility and to monitor the impact of individual stock
positions, both long and short positions, on the Fund's entire portfolio.

The Fund components utilize fundamental valuation, quantitative research or
a combination of both to construct a portfolio. The investment decisions for
certain Fund components are based on price/value discrepancies as identified
by the Advisor's fundamental valuation process. In selecting securities utilizing
the fundamental valuation process, 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 investment decisions for
other Fund components are based on investment opportunities generated by
quantitative research techniques that systematically exploit market anomalies
to provide consistent excess returns for the Fund.

The Fund's expected net equity market exposure (long market value - short market
value) will typically range from 10% to 50%; however, in response to market
conditions the Fund may adjust its net equity market exposure. The Fund's net
equity market exposure may range from -25% to +75% and at the same time will
comply with all leverage restrictions required by Section 18 of the 1940 Act
and subsequent determinations of the SEC and any other regulatory limitations.
The Fund may hold a substantial portion of its total assets in cash when the
Fund maintains a net short equity market position. By taking both long and
short positions, the Fund seeks to provide some protection in down markets
when compared to a fund that takes only long positions.
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.

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

Short sales risk: There are certain unique risks associated with the use of
short sales strategies. When selling a security short, the Advisor will sell
a security it does not own at the then-current market price and then borrow
the security to deliver to the buyer. The Fund is then obligated to buy the
security on a later date so it can return the security to the lender. Short
sales therefore involve the risk that the Fund will incur a loss by
subsequently buying a security at a higher price than the price at which
the Fund previously sold the security short. This would occur if the securities
lender required the Fund to deliver the securities the Fund had borrowed
at the commencement of the short sale and the Fund was unable to either
purchase the security at a favorable price or to borrow the security from
another securities lender. If this occurs at a time when other short sellers
of the security also want to close out their positions, a "short squeeze" can
occur. A short squeeze occurs when demand is greater than supply for the
security sold short. Moreover, because a Fund's loss on a short sale arises
from increases in the value of the security sold short, such loss, like the price
of the security sold short, is theoretically unlimited. By contrast, a Fund's
loss on a long position arises from decreases in the value of the security and
therefore is limited by the fact that a security's value cannot drop below zero.
It is possible that the Fund's securities held long will decline in value at the
same time that the value of the securities sold short increases, thereby
increasing the potential for loss.

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. 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 issuers
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.

Multi-strategy risk: The risk that the Fund may allocate assets to a Fund
component that underperforms other strategy types.

Market risk: The risk that 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.

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, many types of swaps
and other 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.

Leverage risk associated with borrowing: The Fund may borrow money from banks
to purchase investments for the Fund, which is a form of leverage. If the Fund
borrows money to purchase securities and the Fund's investments decrease in
value, the Fund's losses will be greater than if the Fund did not borrow money
for investment purposes. In addition, if the return on an investment purchased
with borrowed funds is not sufficient to cover the cost of borrowing, then the
net income of the Fund would be less than if borrowing were not used.

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.

IPOs risk: The purchase of shares issued in IPOs may expose the Fund to the
risks associated with issuers that have no operating history as public companies,
as well as to the risks associated with the sectors of the market in which the
issuer operates. The market for IPO shares may be volatile, and share prices of
newly-public companies may fluctuate significantly over a short period of time.
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 the Fund's performance for the year 2011 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
September 5, 2012 the Fund's investment strategy 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 the Fund's performance for the year 2011 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 Equity Long-Short Multi-Strategy Fund Annual Total Returns Of Class Y Shares (2011 is the Fund's first full year of operations)
Bar Chart, Closing rr_BarChartClosingTextBlock Total return January 1 - June 30, 2012: (1.56)%
Best quarter during calendar year shown--4Q 2011: (0.15)%
Worst quarter during calendar year shown--3Q 2011: (0.82)%
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, 2011)
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund | Citigroup Three-Month US Treasury Bill Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Average Annual Returns, Label rr_AverageAnnualReturnLabel Citigroup Three-Month US Treasury Bill Index
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 0.08%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 0.10%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy 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 1.25%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Dividend expense and security loan fees for securities sold short rr_Component1OtherExpensesOverAssets 1.43% [1]
Other rr_Component2OtherExpensesOverAssets 1.38%
Total other expenses rr_OtherExpensesOverAssets 2.81%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 4.32% [1],[2]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.13%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 3.19% [1],[2],[3]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 854
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 1,691
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 2,539
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 4,711
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class A Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (7.91%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception (6.29%)
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy 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 1.25%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Dividend expense and security loan fees for securities sold short rr_Component1OtherExpensesOverAssets 1.43% [1]
Other rr_Component2OtherExpensesOverAssets 1.25%
Total other expenses rr_OtherExpensesOverAssets 2.68%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 4.94% [1],[2]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.00%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 3.94% [1],[2],[3]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 496
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 1,395
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 2,395
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 4,901
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 396
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 1,395
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 2,395
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 4,901
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class C Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (4.27%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception (3.38%)
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy 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 1.25%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Dividend expense and security loan fees for securities sold short rr_Component1OtherExpensesOverAssets 1.43% [1]
Other rr_Component2OtherExpensesOverAssets 1.26%
Total other expenses rr_OtherExpensesOverAssets 2.69%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 3.95% [1],[2]
Less management fee waiver/expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.01%)
Total annual fund operating expenses after management fee waiver/expense reimbursements rr_NetExpensesOverAssets 2.94% [1],[2],[3]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-10-27
Expense Example, With Redemption, 1 Year rr_ExpenseExampleYear01 297
Expense Example, With Redemption, 3 Years rr_ExpenseExampleYear03 1,112
Expense Example, With Redemption, 5 Years rr_ExpenseExampleYear05 1,944
Expense Example, With Redemption, 10 Years rr_ExpenseExampleYear10 4,101
Annual Return 2011 rr_AnnualReturn2011 (2.38%)
Year to Date Return, Label rr_YearToDateReturnLabel Total return January 1 - June 30, 2012:
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn (1.56%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter during calendar year shown
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn (0.15%)
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter during calendar year shown
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.82%)
Average Annual Returns, Label rr_AverageAnnualReturnLabel Class Y Return before taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (2.38%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception (2.44%)
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy 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 (2.38%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception (2.44%)
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy 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 (1.53%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception (2.07%)
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
[1] Due to the Fund's strategy change, the Fund has restated the "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" based on the anticipated expenses for the new strategy. These "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" are based on estimates and may vary based on actual investments. The actual "Dividend expense and security loan fees for securities sold short" for the Fund's fiscal year ended June 30, 2011 were 2.38% for Class A shares, 2.44% for Class C shares and 2.32% for Class Y shares. The actual "Acquired fund fees and expenses" for the Fund's fiscal year ended June 30, 2011 were 0.04% for Class A shares, 0.04% for Class C shares and 0.04% for Class Y shares. The actual "Total annual fund operating expenses" for the Fund's fiscal year ended June 30, 2011 were 5.30% for Class A shares, 5.98% for Class C shares and 4.87% for Class Y shares. The actual "Total annual fund operating expenses after management fee waiver/expense reimbursements" for the Fund's fiscal year ended June 30, 2011 were 4.17% for Class A shares, 4.98% for Class C shares and 3.86% for Class Y shares.
[2] 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.
[3] 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 ompanies, interest, taxes, brokerage commissions, extraordinary expenses, dividend expense and security loan fees for securities sold short) 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, extraordinary expenses, dividend expense and security loan fees for securities sold short), through the period ending October 27, 2013, do not exceed 1.75% for Class A shares, 2.50% for Class C shares and 1.50% 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. The fee waiver/expense reimbursement agreement may be terminated by the Fund's Board of Trustees at any time and also will terminate automatically upon the expiration or termination of the Fund's advisory contract with the Advisor. Upon termination of the fee waiver/expense reimbursement agreement, however, the UBS Global AM (Americas)'s three year recoupment rights will survive.
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UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund
UBS Equity Long-Short Multi-Strategy Fund (formerly, UBS Market Neutral Multi-Strategy Fund)
Investment objective
The Fund seeks to preserve and grow capital with low correlation to the equity
markets.
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 12 of the Fund's
prospectus and in "Reduced sales charges, additional purchase, exchange and
redemption information and other services" on page 55 of the Fund's statement
of additional information ("SAI").
Shareholder fees (fees paid directly from your investment)
Shareholder Fees UBS Market Neutral Multi-Strategy Fund
Class A
Class C
Class Y
Maximum front-end sales charge (load) imposed on purchases (as a % of offering price) 5.50% none none
Maximum contingent deferred sales charge (load) (CDSC) (as a % of purchase or sales price, whichever is less) none 1.00% none
Redemption fee (as a % of amount redeemed within 90 days of purchase, if applicable) 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 Market Neutral Multi-Strategy Fund
Class A
Class C
Class Y
Management fees 1.25% 1.25% 1.25%
Distribution and/or service (12b-1) fees 0.25% 1.00% none
Dividend expense and security loan fees for securities sold short [1] 1.43% 1.43% 1.43%
Other 1.38% 1.25% 1.26%
Total other expenses 2.81% 2.68% 2.69%
Acquired fund fees and expenses [1] 0.01% 0.01% 0.01%
Total annual fund operating expenses [1][2] 4.32% 4.94% 3.95%
Less management fee waiver/expense reimbursements 1.13% 1.00% 1.01%
Total annual fund operating expenses after management fee waiver/expense reimbursements [1][2][3] 3.19% 3.94% 2.94%
[1] Due to the Fund's strategy change, the Fund has restated the "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" based on the anticipated expenses for the new strategy. These "Dividend expense and security loan fees for securities sold short" and "Acquired fund fees and expenses" are based on estimates and may vary based on actual investments. The actual "Dividend expense and security loan fees for securities sold short" for the Fund's fiscal year ended June 30, 2011 were 2.38% for Class A shares, 2.44% for Class C shares and 2.32% for Class Y shares. The actual "Acquired fund fees and expenses" for the Fund's fiscal year ended June 30, 2011 were 0.04% for Class A shares, 0.04% for Class C shares and 0.04% for Class Y shares. The actual "Total annual fund operating expenses" for the Fund's fiscal year ended June 30, 2011 were 5.30% for Class A shares, 5.98% for Class C shares and 4.87% for Class Y shares. The actual "Total annual fund operating expenses after management fee waiver/expense reimbursements" for the Fund's fiscal year ended June 30, 2011 were 4.17% for Class A shares, 4.98% for Class C shares and 3.86% for Class Y shares.
[2] 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.
[3] 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 ompanies, interest, taxes, brokerage commissions, extraordinary expenses, dividend expense and security loan fees for securities sold short) 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, extraordinary expenses, dividend expense and security loan fees for securities sold short), through the period ending October 27, 2013, do not exceed 1.75% for Class A shares, 2.50% for Class C shares and 1.50% 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. The fee waiver/expense reimbursement agreement may be terminated by the Fund's Board of Trustees at any time and also will terminate automatically upon the expiration or termination of the Fund's advisory contract with the Advisor. Upon termination of the fee waiver/expense reimbursement agreement, however, the UBS Global AM (Americas)'s three year recoupment rights will survive.
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 Market Neutral Multi-Strategy 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
854 1,691 2,539 4,711
Class C
496 1,395 2,395 4,901
Class Y
297 1,112 1,944 4,101
Expense Example, No Redemption (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
UBS Market Neutral Multi-Strategy Fund Class C
396 1,395 2,395 4,901
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 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 460%
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
and/or equity-related instruments. Equity-related instruments include
securities or other instruments that derive their value from equity
securities and may include such instruments as short sales of equity
securities, swaps on equity securities, and futures and options on
equity securities. Investments by the Fund in equity securities may
include, but are not limited to, common stock and preferred stock
of issuers in developed countries (including the United States) and
emerging markets. The Fund's equity investments may include large,
intermediate and small capitalization companies. The Fund will maintain
both long positions and short positions in equity securities and
securities with equity-like characteristics. The Fund also may invest
in securities convertible into equity securities.

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 options, futures, forward agreements, swap agreements
(specifically, total return and currency swaps), equity participation
notes and equity linked notes. All of these derivatives may be used for
risk management purposes, such as hedging against a specific security or
currency, or to manage or adjust the risk profile of the Fund. In addition,
all of the derivative instruments listed above may be used for investment
(non-hedging) purposes to earn income; to enhance returns; to replace more
traditional direct investments; to obtain exposure to certain markets; or to
establish net short positions for individual markets, currencies or securities.

Under certain market conditions, the Fund may invest in companies at the
time of their initial public offering ("IPO"). To the extent permitted by
the Investment Company Act of 1940, as amended (the "1940 Act"), the Fund
may borrow money from banks to purchase investments for the Fund.

Management process

The Fund seeks to maximize total returns by allocating its assets among one
or more distinct equity investment strategies (each a "Fund component" and
together, the "Fund components"), which are managed by portfolio management
teams at the Advisor. Each Fund component is unique in terms of the source of
its investment insight, its geographic focus, or both. A Fund component will
purchase securities long that it believes will outperform the market, other
Fund securities or both, and sell securities short that are expected to
underperform the market, other Fund securities or both. The Fund engages in
its long/short strategies in order to generate returns with low correlations
to equity markets.

The Advisor selects Fund components and allocates the Fund's assets among the
Fund components based on each Fund component's expected contribution to the
risk adjusted investment return of the Fund. Fund components are chosen by the
Advisor in part because the Fund components demonstrate a low correlation of
returns versus equity markets and among each other. The Advisor intends to
allocate assets among the Fund components with the goal of providing returns
for the Fund that are a function of the Advisor's stock-level investment
insights rather than a function of broad market movements.

In deciding the Fund's allocation to each Fund component, the Advisor utilizes
analytical tools that enable the Advisor to view the entire investment portfolio
of the Fund across all underlying components in order to best assess the
allocation of Fund assets among these components based on alpha potential and
contribution to volatility and to monitor the impact of individual stock
positions, both long and short positions, on the Fund's entire portfolio.

The Fund components utilize fundamental valuation, quantitative research or
a combination of both to construct a portfolio. The investment decisions for
certain Fund components are based on price/value discrepancies as identified
by the Advisor's fundamental valuation process. In selecting securities utilizing
the fundamental valuation process, 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 investment decisions for
other Fund components are based on investment opportunities generated by
quantitative research techniques that systematically exploit market anomalies
to provide consistent excess returns for the Fund.

The Fund's expected net equity market exposure (long market value - short market
value) will typically range from 10% to 50%; however, in response to market
conditions the Fund may adjust its net equity market exposure. The Fund's net
equity market exposure may range from -25% to +75% and at the same time will
comply with all leverage restrictions required by Section 18 of the 1940 Act
and subsequent determinations of the SEC and any other regulatory limitations.
The Fund may hold a substantial portion of its total assets in cash when the
Fund maintains a net short equity market position. By taking both long and
short positions, the Fund seeks to provide some protection in down markets
when compared to a fund that takes only long positions.
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.

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

Short sales risk: There are certain unique risks associated with the use of
short sales strategies. When selling a security short, the Advisor will sell
a security it does not own at the then-current market price and then borrow
the security to deliver to the buyer. The Fund is then obligated to buy the
security on a later date so it can return the security to the lender. Short
sales therefore involve the risk that the Fund will incur a loss by
subsequently buying a security at a higher price than the price at which
the Fund previously sold the security short. This would occur if the securities
lender required the Fund to deliver the securities the Fund had borrowed
at the commencement of the short sale and the Fund was unable to either
purchase the security at a favorable price or to borrow the security from
another securities lender. If this occurs at a time when other short sellers
of the security also want to close out their positions, a "short squeeze" can
occur. A short squeeze occurs when demand is greater than supply for the
security sold short. Moreover, because a Fund's loss on a short sale arises
from increases in the value of the security sold short, such loss, like the price
of the security sold short, is theoretically unlimited. By contrast, a Fund's
loss on a long position arises from decreases in the value of the security and
therefore is limited by the fact that a security's value cannot drop below zero.
It is possible that the Fund's securities held long will decline in value at the
same time that the value of the securities sold short increases, thereby
increasing the potential for loss.

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. 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 issuers
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.

Multi-strategy risk: The risk that the Fund may allocate assets to a Fund
component that underperforms other strategy types.

Market risk: The risk that 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.

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, many types of swaps
and other 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.

Leverage risk associated with borrowing: The Fund may borrow money from banks
to purchase investments for the Fund, which is a form of leverage. If the Fund
borrows money to purchase securities and the Fund's investments decrease in
value, the Fund's losses will be greater than if the Fund did not borrow money
for investment purposes. In addition, if the return on an investment purchased
with borrowed funds is not sufficient to cover the cost of borrowing, then the
net income of the Fund would be less than if borrowing were not used.

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.

IPOs risk: The purchase of shares issued in IPOs may expose the Fund to the
risks associated with issuers that have no operating history as public companies,
as well as to the risks associated with the sectors of the market in which the
issuer operates. The market for IPO shares may be volatile, and share prices of
newly-public companies may fluctuate significantly over a short period of time.
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 the Fund's performance for the year 2011 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
September 5, 2012 the Fund's investment strategy 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 Equity Long-Short Multi-Strategy Fund Annual Total Returns Of Class Y Shares (2011 is the Fund's first full year of operations)
Bar Chart
Total return January 1 - June 30, 2012: (1.56)%
Best quarter during calendar year shown--4Q 2011: (0.15)%
Worst quarter during calendar year shown--3Q 2011: (0.82)%
Average annual total returns (for the periods ended December 31, 2011)
Average Annual Total Returns UBS Market Neutral Multi-Strategy Fund
Average Annual Returns, Label
Average Annual Returns, 1 Year
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Class A
Class A Return before taxes (7.91%) (6.29%) Jun. 30, 2010
Class C
Class C Return before taxes (4.27%) (3.38%) Jun. 30, 2010
Class Y
Class Y Return before taxes (2.38%) (2.44%) Jun. 30, 2010
After Taxes on Distributions Class Y
Class Y Return after taxes on distributions (2.38%) (2.44%) Jun. 30, 2010
After Taxes on Distributions and Sales Class Y
Class Y Return after taxes on distributions and sale of fund shares (1.53%) (2.07%) Jun. 30, 2010
Citigroup Three-Month US Treasury Bill Index
Citigroup Three-Month US Treasury Bill Index 0.08% 0.10% Jun. 30, 2010

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XML 15 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
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Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2011
Registrant Name dei_EntityRegistrantName UBS FUNDS
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UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund | Class A
 
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UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund | Class C
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol BMNCX
UBS Market Neutral Multi-Strategy Fund (Prospectus Summary) | UBS Market Neutral Multi-Strategy Fund | Class Y
 
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