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PAINEWEBBER GLOBAL EQUITY FUND
SUPPLEMENT TO PROSPECTUS DATED JANUARY 1, 1996
August 13, 1996
Dear Investor,
This is a supplement to the Prospectus of PaineWebber Global Equity Fund,
dated January 1, 1996. The purpose of this supplement is to revise certain
information contained in the Prospectus regarding the Investment Manager.
Directly assisting Mr. Layman are Michael J. Solecki, Vice President of
International Equities at GE Investments, and the rest of the International
Equity Team. Mr. Solecki is a Chartered Financial Analyst and has been with GE
Investment Management for six years. From 1992 to 1995, Mr. Solecki was a Senior
European Analyst at GE Investment Management's London, England office. Prior to
1992, he was an International Analyst with GE Investment Management. The
International Equity Team is comprised of eleven analysts, seven of whom manage
portfolios.
If you have any questions regarding PaineWebber Global Equity Fund, please
call your Investment Executive at PaineWebber or one of its correspondent firms.
