0001104659-15-002876.txt : 20150116 0001104659-15-002876.hdr.sgml : 20150116 20150116115454 ACCESSION NUMBER: 0001104659-15-002876 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20150116 DATE AS OF CHANGE: 20150116 EFFECTIVENESS DATE: 20150116 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: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-47287 FILM NUMBER: 15531706 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 Equity Long-Short Multi-Strategy Fund C000090281 CLASS A BMNAX C000090282 CLASS C BMNCX C000090283 CLASS P BMNYX 497K 1 a15-1202_9497k.htm 497K

The UBS Funds

Supplement to the Summary Prospectuses

The UBS Funds

UBS Asset Growth Fund

UBS Dynamic Alpha Fund

UBS Global Allocation Fund

UBS Multi-Asset Income Fund

UBS Equity Long-Short Multi-Strategy Fund

UBS U.S. Defensive Equity Fund

UBS Fixed Income Opportunities Fund

UBS Municipal Bond Fund

Supplement to the Summary Prospectuses

January 16, 2015

Dear Investor,

The purpose of this supplement is to update the Summary Prospectuses of the above-listed series (each a "Fund" and collectively, the "Funds") of The UBS Funds (the "Trust") dated October 28, 2014.

At a recent meeting of the Board of Trustees (the "Board") of the Trust, the Board approved the reduction of the holding period for redemption fees for the Funds from 90 days to 30 days, effective on February 17, 2015. In connection with that change, the Summary Prospectuses are revised to include a footnote to the "Redemption fee (as a % of the amount redeemed within 90 days of purchase, if applicable)" line item in each Fund's shareholder fees table. Such footnote reads as follows:

*  Effective February 17, 2015, for purchases of the Funds on or after that date, the redemption fee will be calculated as a percentage of the amount redeemed within 30 days of purchase, if applicable.

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

ZS-702


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