Gabelli, UBS MMFs Cut Fees
A Prospectus Supplement for The Gabelli Money Market Funds and the "The Gabelli U.S. Treasury Money Market Fund," tells us, "Supplement dated September 28, 2017 to the Fund's Summary Prospectus and Prospectus for Class AAA, Class A, and Class C shares each dated January 27, 2017, as supplemented from time to time. Effective October 1, 2017, the total expense ratio for the Fund is reduced from 0.11% of the Fund's average daily net assets to 0.08% of the Fund's average daily net assets. Accordingly, corresponding changes are made to the Fees and Expenses table in the Prospectus and the Summary Prospectus." A separate filing for UBS Money Series and the UBS Select Prime Investor Fund dated September 28, 2017, says, "Dear Investor: The purpose of this supplement is to update certain information contained in the Prospectus for UBS Select Prime Investor Fund (the "fund") regarding a voluntary fee waiver for the fund.... Effective from October 1, 2017 through October 31, 2017, UBS AM will voluntarily waive 0.04% of its management fee (imposed at the related master fund level) for UBS Select Prime Investor fund. The full benefit of this additional voluntary fee waiver may not flow through in its entirety to fund shareholders given the interplay between the 0.04% voluntary waiver and the pre-existing contractual fee waiver/expense reimbursement arrangements that cap UBS Select Prime Investor Fund's ordinary operating expense ratio at 0.50% through August 31, 2018; the contractual cap is not being increased."
