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<PAGE> PAGE 14
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<PAGE> PAGE 17
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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SIGNATURE SUSAN MOSHER
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 001
<NAME> UBS BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 71,774,989
<INVESTMENTS-AT-VALUE> 72,702,182
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 0
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<NET-ASSETS> 74,761,018
<DIVIDEND-INCOME> 82,826
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<OTHER-INCOME> 0
<EXPENSES-NET> 294,800
<NET-INVESTMENT-INCOME> 3,560,778
<REALIZED-GAINS-CURRENT> 272,072
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<NET-CHANGE-IN-ASSETS> 21,760,166
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<AVG-DEBT-PER-SHARE> 0
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 002
<NAME> UBS VALUE EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
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<INVESTMENTS-AT-VALUE> 51,857,125
<RECEIVABLES> 152,703
<ASSETS-OTHER> 3,120,961
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<TOTAL-ASSETS> 55,148,647
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 268,202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 54,880,445
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 54,880,445
<DIVIDEND-INCOME> 1,221,696
<INTEREST-INCOME> 85,602
<OTHER-INCOME> 0
<EXPENSES-NET> 221,609
<NET-INVESTMENT-INCOME> 1,085,689
<REALIZED-GAINS-CURRENT> 3,252,224
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<NET-CHANGE-FROM-OPS> 10,771,738
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 29,454,712
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 246,135
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 381,939
<AVERAGE-NET-ASSETS> 41,022,017
<PER-SHARE-NAV-BEGIN> 0
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 003
<NAME> UBS INTERNATIONAL EQUITY PORTFO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 55,386,859
<INVESTMENTS-AT-VALUE> 49,475,494
<RECEIVABLES> 1,023,378
<ASSETS-OTHER> 1,476,139
<OTHER-ITEMS-ASSETS> 34,513
<TOTAL-ASSETS> 52,009,524
<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> 89,625
<TOTAL-LIABILITIES> 89,625
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 51,919,899
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 51,919,899
<DIVIDEND-INCOME> 849,307
<INTEREST-INCOME> 333,088
<OTHER-INCOME> 0
<EXPENSES-NET> 478,307
<NET-INVESTMENT-INCOME> 704,088
<REALIZED-GAINS-CURRENT> 1,982,162
<APPREC-INCREASE-CURRENT> (6,280,784)
<NET-CHANGE-FROM-OPS> (3,594,534)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10,373,320
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 428,213
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 654,630
<AVERAGE-NET-ASSETS> 50,377,950
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
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<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 004
<NAME> UBS HIGH YIELD BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 12,045,206
<INVESTMENTS-AT-VALUE> 12,098,091
<RECEIVABLES> 241,025
<ASSETS-OTHER> 837,762
<OTHER-ITEMS-ASSETS> 4,550
<TOTAL-ASSETS> 13,181,428
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,137
<TOTAL-LIABILITIES> 38,137
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,143,291
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 13,143,291
<DIVIDEND-INCOME> 3,613
<INTEREST-INCOME> 215,326
<OTHER-INCOME> 0
<EXPENSES-NET> 25,717
<NET-INVESTMENT-INCOME> 193,222
<REALIZED-GAINS-CURRENT> 28,936
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<NET-CHANGE-FROM-OPS> 275,043
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,143,291
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,611
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49,108
<AVERAGE-NET-ASSETS> 10,595,996
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
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<EXPENSE-RATIO> 0.96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 005
<NAME> UBS SMALL CAP PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 27,126,057
<INVESTMENTS-AT-VALUE> 26,115,821
<RECEIVABLES> 512,942
<ASSETS-OTHER> 1,006,534
<OTHER-ITEMS-ASSETS> 4,549
<TOTAL-ASSETS> 27,639,846
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<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,995,788
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 26,995,788
<DIVIDEND-INCOME> 14,908
<INTEREST-INCOME> 34,600
<OTHER-INCOME> 0
<EXPENSES-NET> 50,989
<NET-INVESTMENT-INCOME> (1,481)
<REALIZED-GAINS-CURRENT> 14,491
<APPREC-INCREASE-CURRENT> (1,010,236)
<NET-CHANGE-FROM-OPS> (997,226)
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<NET-CHANGE-IN-ASSETS> 26,995,788
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
</LEGEND>
<CIK> 0001007523
<NAME> UBS INVESTOR PORTFOLIOS TRUST
<SERIES>
<NUMBER> 006
<NAME> UBS LARGE CAP GROWTH PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 17,470,426
<INVESTMENTS-AT-VALUE> 17,773,077
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-PRIOR> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 19,134,128
<DIVIDEND-INCOME> 49,436
<INTEREST-INCOME> 22,239
<OTHER-INCOME> 0
<EXPENSES-NET> 34,575
<NET-INVESTMENT-INCOME> 37,100
<REALIZED-GAINS-CURRENT> (59,628)
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UBS Investor Portfolios Trust
Form: N-SAR December 31, 1997
Item 77-Q Incorporated by Reference
- ------------------------------------------------------------------------
Item 77-Q1 Exhibits
The following exhibits were included in a matter submitted to a vote of security
holders during the year ended 12/31/97 and are being Incorporated by Reference.
The actual filing is identified below.
List of exhibits incorporated by reference:
Form of Advisory Agreement: Between UBS Investor Portfolios Trust and Union Bank
of Switzerland, New York Branch
Form of Investment Sub-Advisory Agreement: Between Union Bank of Switzerland,
New York Branch and UBS Asset Management (New York), Inc.
------------------------------------------------------------------------
Form type: DEFS14A
Date Filed: December 4, 1997
February 17, 1998
To the Investors and Board of Trustees of the UBS Investor Portfolios Trust,
with respect to its series International Equity Portfolio, Value Equity
Portfolio, Bond Portfolio, High Yield Bond Portfolio, Large Cap Growth
Portfolio, and Small Cap Portfolio:
In planning and performing our audits of the financial statements of the
International Equity Portfolio, Value Equity Portfolio, Bond Portfolio, High
Yield Bond Portfolio, Large Cap Growth Portfolio, and Small Cap Portfolio (six
of the portfolios constituting the UBS Investor Portfolios Trust, hereafter
referred to as the "Portfolios") for the year ended December 31, 1997 we
considered their internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Portfolios is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgements by
management are required to assess the expected benefits and related costs of
control activities. Generally, control activities that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those control activities include the safeguarding of
assets against unauthorized acquisition, use of disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of a specific
internal control components does not reduce to a relatively low level risk that
errors or irregularities in amounts that would be material in relation to the
financial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned functions.
However, we noted no matters involving internal control, including control for
safeguarding securities, that we consider to be material weaknesses as defined
above as of December 31, 1997.
This report is intended solely for the information and use of management and the
Board of Trustees of the Portfolios and the Securities and Exchange Commission.
Chartered Accountants
Proxy Voting Results
On December 30, 1997, UBS Small Cap Portfolio, UBS Large Cap Growth Portfolio
and UBS High Yield Bond Portfolio (collectively the "Portfolios"), each a series
of UBS Investor Portfolios Trust (the "Trust"), took the following actions
without meeting, by the unanimous written consent of more than 50% of the
outstanding interests of the Portfolios:
1. It was approved that Union Bank of Switzerland, New York Branch (the
"Adviser"), would enter into an Investment Advisory Agreement with the Trust
with respect to the assets of UBS Small Cap Portfolio.
2. It was approved that the Adviser and UBS Asset Management (New York)
Inc., (the "Sub-Adviser") would enter into an Investment Sub-Advisory Agreement
with respect to the assets of UBS Small Cap Portfolio.
3. It was approved that the Adviser would enter into an Investment
Advisory Agreement with the Trust with respect to the assets of UBS Large Cap
Growth Portfolio.
4. It was approved that the Adviser and the Sub-Adviser would enter
into an Investment Sub-Advisory Agreement with respect to the assets of UBS
Large Cap Growth Portfolio.
5. It was approved that the Adviser would enter into an Investment
Advisory Agreement with the Trust with respect to the assets of UBS High Yield
Bond Portfolio.
6. It was approved that the Adviser and the Sub-Adviser would enter
into an Investment Sub-Advisory Agreement with respect to the assets of UBS High
Yield Bond Portfolio.
