PAINEWEBBER SELECT FUND
N-8A, 1996-08-09
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                          SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549

                                      FORM N-8A

                             NOTIFICATION OF REGISTRATION
                        FILED PURSUANT TO SECTION 8(a) OF THE
                            INVESTMENT COMPANY ACT OF 1940


              The undersigned investment company hereby notifies the Securities
     and Exchange Commission that it registers under and pursuant to the
     provisions of Section 8(a) of the Investment Company Act of 1940 and in
     connection with such notification of registration submits the following
     information:

     Name:    PAINEWEBBER SELECT FUND
                        
     Address of Principal Business Office:

              1285 Avenue of the Americas, New York, New York 10019

     Telephone Number:         (212) 713-2000
                                         
     Name and address of Agent for service of process:

                      Dianne E. O'Donnell
                      1285 Avenue of the Americas
                      New York, New York  10019

     Check Appropriate Box:
                                     
     Registrant is filing a Registration Statement pursuant to Section 8(b) of
     the Investment Company Act of 1940 concurrently with the filing of Form N-
     8A:      YES /  /         NO / X  /
                 ---              ----
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     Item 1.          PaineWebber Select Fund

     Item 2.          Registrant was organized under the laws of the State of
                      Delaware on August 9, 1996.

     Item 3.          Registrant is a business trust.

     Item 4.          Registrant is a management company.

     Item 5.          (a) Registrant is a open-end company.

                      (b) Registrant is a non-diversified company.

     Item 6.          Mitchell Hutchins Asset Management Inc.
                      1285 Avenue of the Americas
                      New York, New York  10019

     Item 7.          Victoria Ellen Schonfeld
                      1285 Avenue of the Americas
                      New York, New York  10019

                      Dianne Elizabeth O'Donnell
                      1285 Avenue of the Americas
                      New York, New York  10019

                      Julian Fernand Sluyters
                      1285 Avenue of the Americas
                      New York, New York  10019

     Item 8.          Not applicable.

     Item 9.          (a) No.

                      (b) Not applicable.

                      (c) Yes.

                      (d) No.

                      (e) Not applicable.

     Item 10.         Zero.

     Item 11.         No.

     Item 12.         Not applicable.
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              Pursuant to the requirements of the Investment Company Act of
     1940, the registrant has caused this notification of registration to be
     duly signed on its behalf in the City of New York and State of New York on
     the 9th day of August, 1996.


                                                PaineWebber Select Fund


                                                By:  /s/ Victoria E. Schonfeld
                                                   ----------------------------
                                                   Victoria E. Schonfeld
                                                   President



     Attest: /S/ Dianne E. O'Donnell
              ---------------------------
              Dianne E. O'Donnell
              Secretary
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