0001104659-14-086676.txt : 20141215 0001104659-14-086676.hdr.sgml : 20141215 20141215131859 ACCESSION NUMBER: 0001104659-14-086676 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20141215 DATE AS OF CHANGE: 20141215 EFFECTIVENESS DATE: 20141215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UBS FUNDS CENTRAL INDEX KEY: 0000886244 IRS NUMBER: 367056204 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-47287 FILM NUMBER: 141285870 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 S000047156 UBS Municipal Bond Fund C000147812 Class A UMBAX C000147813 Class C UMBCX C000147814 Class P UMBPX 497 1 a14-26102_1497.htm 497

The UBS Funds

Prospectus Supplement

The UBS Funds

UBS Municipal Bond Fund

Prospectus Supplement

December 15, 2014

Dear Investor,

The purpose of this supplement is to update the Prospectus of the UBS Municipal Bond Fund series (the "Fund") of The UBS Funds dated October 28, 2014, as follows:

The section of the Prospectus entitled "Disclosure of Portfolio Holdings" on page 24 of the Prospectus is deleted in its entirety and replaced by the following:

Disclosure of portfolio holdings

The Fund will file its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund's Forms N-Q are available on the SEC's Web Site at www.sec.gov. The Fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C.

Information on the operation of the SEC's Public Reference Room may be obtained by calling 202-551 8090. Additionally, you may obtain copies of Forms N-Q from the Fund upon request by calling 1-800-647 1568. The Fund's complete schedule of portfolio holdings for the second and fourth quarters of each fiscal year is filed with the SEC on Form N-CSR and appears in the semiannual and annual reports, respectively, sent to shareholders. The semiannual and annual reports for the Fund will be posted on the Fund's Web Site at http://www.ubs.com/us/en/asset_management/individual_investors/mutual_fund.html.

In addition, due to the recent launch of the Fund, the Fund will provide an initial public disclosure of portfolio holdings. On December 15, 2014, the Fund will post the Fund's complete schedule of portfolio holdings as of November 30, 2014 on the Fund's Web Site at http://www.ubs.com/us/en/asset_management/individual_investors/mutual_fund/municipal-bond-fund.html.

Please consult the Fund's SAI for a description of the policies and procedures that govern disclosure of the Fund's portfolio holdings.

PLEASE BE SURE TO RETAIN THIS IMPORTANT INFORMATION FOR FUTURE REFERENCE.

ZS-698


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