UBS PRIVATE INVESTOR FUNDS, INC.
UBS VALUE EQUITY FUND (the "Fund")
(FORMERLY UBS U.S. EQUITY FUND)
SUPPLEMENT TO PROSPECTUS DATED MARCH 13, 1997
At a meeting of the Board of Directors on November 4, 1997, the name of
the UBS U.S. Equity Fund (a series of UBS Private Investors Fund, Inc. (the
"Company")) was changed to the UBS Value Equity Fund. As a result, UBS Value
Equity Fund will replace all references to UBS U.S. Equity Fund in the Fund's
Prospectus.
In addition, 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
since 1996, but also has considerable experience managing portfolios with
similar investment objectives.
November 4, 1997
