Expecting a raise next year? Don't be surprised if it's not quite as generous as the hefty raises awaiting the independent trustees who preside over the UBS Funds complex.

The 33 UBS Funds of New York are managed by either UBS Global Asset Management or UBS Financial Services, two investment management subsidiaries of UBS AG, headquartered in Zurich and Basel, Switzerland. The UBS Funds dropped their co-branded "PaineWebber" name in 2003.

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