Statement of Additional Information Supplement October 2, 2023
Statement of Additional Information Supplement July 27, 2023
Statement of Additional Information Supplement June 30, 2023
Statement of Additional Information Supplement April 4, 2023
Statement of Additional Information October 28, 2022
General information about the Trust
Diversification status
General definitions
Investment strategies
Summary of risks
Investment restrictions
Management of the Trust
Independent trustees
Officers
Information about Independent trustee ownership of securities issued by UBS AM
Information about trustee ownership of Fund shares
Compensation table
Principal holders of securities
Investment advisory, principal underwriting and other service arrangements
Advisor
Portfolio managers
Administrative, accounting and custody services
Principal underwriting arrangements
Transfer agency and related services
Independent registered public accounting firm
Legal counsel
Personal trading policies
Proxy voting policies
Portfolio holdings disclosure policies and procedures
Bank line of credit
Portfolio transactions and brokerage commissions
Portfolio turnover
Shares of beneficial interest
Reduced sales charges, additional purchase, exchange and redemption information and other services
Sales charge reductions and waivers
Additional information regarding purchases through letter of intent
Automatic cash withdrawal plan
Individual retirement accounts
Transfer of securities
Valuation of shares
Taxes
Taxation of the Fund
Taxation of Fund distributions
Sales, exchanges and redemptions of Fund shares
Tax treatment of portfolio transactions
Backup withholding
Abandoned or unclaimed property
Non-US investors
Effect of future legislation; local tax considerations
Potential conflicts of interest
Performance calculations
Securities lending
Financial statements and report of independent registered public accounting firm
Appendix A—Debt rating
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