UBS to convert nine funds to class A shares from class B on March 1

By Toni Weeks

San Diego, Jan. 17 - The board of trustees of UBS Funds approved at Nov. 9 and Dec. 2 meetings the conversion of class B shares into class A shares of the same fund for nine of its funds.

The affected funds are the UBS Dynamic Alpha Fund, the UBS Global Allocation Fund, the UBS Global Equity Fund, the UBS International Equity Fund, the UBS U.S. Large Cap Equity Fund, the UBS U.S. Small Cap Growth Fund, the UBS Core Plus Bond Fund, the UBS Global Bond Fund and the UBS High Yield Fund.

The conversion will occur March 1 without any action necessary from shareholders.

Shareholders will not incur any transaction costs or fees, and the conversion is expected to be tax-free for federal income tax purposes.

The filing noted that class A shares of each fund are expected to be subject to the same fees and expenses as the class B shares of the same fund, but class A shares will have lower distribution (12b-1) fees.

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