UBS PRIVATE INVESTOR FUNDS, INC.
UBS U.S. EQUITY FUND
SUPPLEMENT TO PROSPECTUS DATED MARCH 13, 1997
The following information replaces the fourth paragraph contained in
the section of the Fund's Prospectus entitled "Management -- Adviser and Funds
Services Agent":
The Adviser uses a sophisticated, disciplined, collaborative process for
managing all asset classes. Neil S. Kenagy is primarily responsible for the
day-to-day management and implementation of the Adviser's process for the
Portfolio. Mr. Kenagy, CFA, is also a Vice President of UBS Asset Management
(New York) Inc. ("UBSAM (NY)"), and has served as a portfolio manager of UBSAM
(NY) since February 1996. Previously, Mr. Kenagy was Vice President and
Portfolio Manager for Dillon Read Investment Management from March 1992 through
February 1996. He has a bachelor's degree from Kenyon College. Mr. Kenagy has
seven years of investment experience. The Adviser has advised mutual funds for
only a short time.
October 22, 1997
