0001104659-19-038725.txt : 20190701 0001104659-19-038725.hdr.sgml : 20190701 20190701172539 ACCESSION NUMBER: 0001104659-19-038725 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20190701 DATE AS OF CHANGE: 20190701 EFFECTIVENESS DATE: 20190701 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: 19934319 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

C000008506 CLASS P BNAYX

497K 1 a19-12326_3497k.htm 497K

The UBS Funds

Summary Prospectus Supplement | July 1, 2019

Includes:

– UBS Dynamic Alpha Fund

Dear Investor,

The purpose of this supplement is to update certain information in the Summary Prospectus for the UBS Dynamic Alpha Fund (the "Fund"), a series of The UBS Funds.

Effective as of July 1, 2019, the minimum initial investment amount for Class P shares of the Fund is reduced from $5 million to $2 million.

Therefore, effective July 1, 2019, the section captioned "Purchase & sale of Fund shares" in the Summary Prospectus is revised by replacing the third sentence of that section with the following:

In general, the minimum initial investment for Class A shares is $1,000, and the minimum subsequent investment is $100; and the minimum investment for Class P shares is $2 million ($1,000 for investors who are clients of wrap fee advisory programs (with a minimum subsequent investment of $100)).

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

ZS-1017

GRAPHIC 2 j19123263_qxp001.jpg GRAPHIC begin 644 j19123263_qxp001.jpg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end