0001104659-18-025543.txt : 20180420 0001104659-18-025543.hdr.sgml : 20180420 20180420135520 ACCESSION NUMBER: 0001104659-18-025543 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20180420 DATE AS OF CHANGE: 20180420 EFFECTIVENESS DATE: 20180420 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: 18766019 BUSINESS ADDRESS: STREET 1: C/O UBS ASSET MANAGEMENT (AMERICAS) INC STREET 2: ONE NORTH WACKER DR. CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-525-7100 MAIL ADDRESS: STREET 1: C/O UBS ASSET MANAGEMENT (AMERICAS) INC 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 S000003135 UBS DYNAMIC ALPHA FUND

C000008503 CLASS A BNAAX

C000008505 CLASS C BNACX

C000008506 CLASS P BNAYX

497K 1 a18-11216_3497k.htm 497K

The UBS Funds

Summary Prospectus Supplement | April 20, 2018

Includes:

• UBS Dynamic Alpha Fund

Dear Investor,

The purpose of this supplement is to update the Summary Prospectus with respect to the UBS Dynamic Alpha Fund series of shares of The UBS Funds, dated October 27, 2017, as follows:

Nathan Shetty will no longer serve as portfolio manager for the UBS Dynamic Alpha Fund. Alan Zlatar will assume Mr. Shetty's portfolio management responsibilities for the UBS Dynamic Alpha Fund and José Ignacio Andrés will also continue to serve as a portfolio manager for the UBS Dynamic Alpha Fund.

Therefore, the bullets under the heading "UBS Dynamic Alpha Fund" and the sub-heading "Portfolio managers" of the Summary Prospectus are deleted in their entirety and replaced by the following:

• Alan Zlatar, portfolio manager of the Fund since April 2018.

• José Ignacio Andrés, portfolio manager of the Fund since March 2017.

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

ZS-950

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