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FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Educational Insights, Inc.
----------------------------------------------------------------
2. Date of Purchase: 4/15/94 3. Date offering commenced: 4/15/94
----------- -----------
4. Underwriter from whom purchased: William Blair, Volpe Welty
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $500,000
---------------------------------
7. Aggregate principal amount of offering: $19,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $10.00
------------------------------
9. Initial Public Offering Price: $10.00
-----------------------------------------
10. Commission, spread or profit: % $ .38
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris PMB Date: 5/18/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: C-Cube Microsystems, Inc.
----------------------------------------------------------------
2. Date of Purchase: 4/21/94 3. Date offering commenced: 4/21/94
----------- -----------
4. Underwriter from whom purchased: Lehman Bros, Alex Brown, Unterberg
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $375,000
---------------------------------
7. Aggregate principal amount of offering: $290,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $15.00
------------------------------
9. Initial Public Offering Price: $15.00
-----------------------------------------
10. Commission, spread or profit: % $ .57
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris by Teresa M. Boyle Date: 5/19/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: American Publishing Co.
----------------------------------------------------------------
2. Date of Purchase: 5/4/94 3. Date offering commenced: 5/4/94
----------- -----------
4. Underwriter from whom purchased: Smith Barney, Merrill Lynch, AG Edwards
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $325,000
---------------------------------
7. Aggregate principal amount of offering: $95,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $13.00
------------------------------
9. Initial Public Offering Price: $13.00
-----------------------------------------
10. Commission, spread or profit: % $ .55
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris PMB Date: 5/31/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Fore Systems, Inc.
----------------------------------------------------------------
2. Date of Purchase: 5/23/94 3. Date offering commenced: 5/23/94
----------- -----------
4. Underwriter from whom purchased: Goldman Sachs
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $40,000
---------------------------------
7. Aggregate principal amount of offering: $50,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $16
------------------------------
9. Initial Public Offering Price: $16
-----------------------------------------
10. Commission, spread or profit: % $ .60
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 6/20/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Camco International
----------------------------------------------------------------
2. Date of Purchase: 9/28/94 3. Date offering commenced: 9/28/94
----------- -----------
4. Underwriter from whom purchased: Lazard Freres
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $950,000
---------------------------------
7. Aggregate principal amount of offering: $154,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $19
------------------------------
9. Initial Public Offering Price: $19
-----------------------------------------
10. Commission, spread or profit: % $ .49
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 10/19/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Corporate Express (CEXP)
----------------------------------------------------------------
2. Date of Purchase: 9/23/94 3. Date offering commenced: 9/23/94
----------- -----------
4. Underwriter from whom purchased: Alex Brown
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $120,000
---------------------------------
7. Aggregate principal amount of offering: $120,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $16
------------------------------
9. Initial Public Offering Price: $16
-----------------------------------------
10. Commission, spread or profit: % $ .61
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 10/19/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Comcast UK - CMACF
----------------------------------------------------------------
2. Date of Purchase: 9/20/94 3. Date offering commenced: 9/20/94
----------- -----------
4. Underwriter from whom purchased: DLJ, Goldman
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $225,000
---------------------------------
7. Aggregate principal amount of offering: $202,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $15
------------------------------
9. Initial Public Offering Price: $15
-----------------------------------------
10. Commission, spread or profit: % $ .52
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 10/19/94
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Bolle Amer. BLLE
----------------------------------------------------------------
2. Date of Purchase: 12/15/94 3. Date offering commenced: 12/15/94
----------- -----------
4. Underwriter from whom purchased: Piper Jaffray, J.C. Bradford
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $675,000
---------------------------------
7. Aggregate principal amount of offering: $20,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $9.00
------------------------------
9. Initial Public Offering Price: $9.00
-----------------------------------------
10. Commission, spread or profit: % $ .35
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 1/30/95
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Telewest Communications (TWSTY)
----------------------------------------------------------------
2. Date of Purchase: 11/22/94 3. Date offering commenced: 11/22/94
----------- -----------
4. Underwriter from whom purchased: Morgan Stanley, DLJ, Kleinworth
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $997,500
---------------------------------
7. Aggregate principal amount of offering: $280,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $28.50
------------------------------
9. Initial Public Offering Price: $28.50
-----------------------------------------
10. Commission, spread or profit: % $ .855
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 1/30/95
<PAGE>
FORM 10f-3 FUND NAME: PaineWebber Communications &
Technology Growth Fund
----------------------------------------
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Telewest Communications
----------------------------------------------------------------
2. Date of Purchase: 11/22/94 3. Date offering commenced: 11/22/94
----------- -----------
4. Underwriter from whom purchased: Lehman, Goldman Sachs, Morgan Stanley
---------------------------------------
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
-----------------------------------------------------------------------
6. Aggregate principal amount of purchase: $427,500
---------------------------------
7. Aggregate principal amount of offering: $280,000,000
--------------------------------
8. Purchase price (net of fees and expenses: $28.50
------------------------------
9. Initial Public Offering Price: $28.50
-----------------------------------------
10. Commission, spread or profit: % $ .855
------------ -----------------------
11. Have the following conditions been satisfied? YES NO
------- -------
a. The securities are part of an issue registered
under the Securities Act of 1933 which is being
offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of
the Securities Exchange Act of 1934. X
------- -------
b. The securities were purchased prior to the end of
the first full business day of the offering at not
more than the initial offering price (or, if a
rights offering, the securities were purchased on
or before the fourth day preceding the day on which
the offering terminated). X
------- -------
c. The underwriting was a firm commitment
underwriting. X
------- -------
d. The commission, spread or profit was reasonable
and fair in relation to that being received by
others for underwriting similar securities during
the same period. X
------- -------
e. If the securities are registered under the
Securities Act of 1933, the issuer of the
securities and its predecessor have been in
continuous operation for not less than three
years. X
------- -------
f. The amount of such securities purchased by all
of the investment companies advised by Mitchell
Hutchins did not exceed 4% of the principal
amount of the offering or $500,000 in principal
amount, whichever is greater, provided that in
no event did such amount exceed 10% of the
principal amount of the offering. X
------- -------
g. The purchase price was less than 3% of the Fund's
total assets. X
------- -------
h. No Affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter. X
------- -------
Approved By: Ellen Harris Date: 1/30/95
