Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of
The UBS Funds

In planning and performing our audit of the financial statements of
The UBS Funds (comprising respectively UBS Global Allocation Fund,
UBS Global Equity Fund, UBS Global Bond Fund, UBS International Equity
Fund, UBS U.S. Large Cap Equity Fund, UBS U.S. Large Cap Growth Fund,
UBS U.S. Large Cap Value Equity Fund, UBS U.S. Small Cap Growth Fund,
UBS Dynamic Alpha Fund, UBS U.S. Bond Fund, UBS Absolute Return Bond
Fund, UBS High Yield Fund) (collectively the "Funds") for the year
ended June  30, 2005, we considered its internal control, including
control activities for safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control.

The management of the Funds is responsible for establishing and
maintaining internal control.  In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls.  Generally,
controls that are relevant to an audit pertain to the entitys
objective of preparing financial statements for external
purposes that are fairly presented in conformity with U.S.
generally accepted accounting principles.  Those controls
include the safeguarding of assets against unauthorized
acquisition, use, or disposition.

Because of inherent limitations in internal control, error
or fraud may occur and not be detected.  Also, projections of
any evaluation of internal control to future periods is subject
to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.

Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards of the Public Company Accounting
Oversight Board (United States).  A material weakness is a
condition in which the design or operation of one or more of
the internal control components does not reduce to a relatively
low level the risk that misstatements caused by error or fraud
in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions.  However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above at June 30, 2005.

This report is intended solely for the information and use of
management and the Board of Trustees of the Funds and the Securities
and Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.



ERNST & YOUNG LLP

New York, New York
August 16, 2005