Fund Description

The fund was incepted in August 1995 and is managed by UBS Global Asset Management (US) Inc. The fund seeks current income, consistent with reasonable stability of principal. The fund invests at least 80% of its net assets in fixed income securities. Such investments may include US government bonds, foreign government bonds (including bonds issued by supranational organizations and quasi-governmental entities and mortgage backed securities) and corporate bonds (including mortgage and asset-backed securities of private issuers, Eurodollar certificates of deposit, Eurodollar bonds and Yankee bonds). The fund may invest in preferred stocks and bonds of varying maturities. The fund pays dividends monthly and capital gains annually.