Fund Evaluator:
UBS Global Allocation P (BPGLX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
UBS Global Allocation P Overview
UBS Global Allocation P (BPGLX) is an actively managed Allocation Global Moderate Allocation fund. UBS Asset Management launched the fund in 1992.
The investment seeks to maximize total return, consisting of capital appreciation and current income. The fund will invest in securities and derivatives to gain exposure to equity, fixed income, and alternative asset class securities, including, but not limited to, convertible bonds and real estate securities, including real estate investment trusts and real estate operating companies. It may gain exposure to issuers located within and outside the United States, including securities of issuers in both developed (including the United States) and emerging markets countries.
About UBS Global Allocation P (BPGLX)
There are 3 members of the management team with an average tenure of 3.37 years: Thomas Oesch (2022), Jade Fu (2026), Evan Brown (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and FTSE WGBI Hdg USD index with a weighting of 100%. UBS Global Allocation P has 678 securities in its portfolio. The top 10 holdings constitute 44.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
UBS Global Allocation P is part of the Allocation global asset class and is within the Allocation fund group. UBS Global Allocation P has 27.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 33.9%. There is 15.1% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 34.4% (22.0% domestic bond, 12.4% foreign bond and 0.0% convertible bond). UBS Global Allocation P has 16.5% of the portfolio in cash.
Assets Under Management
The fund has $35 million in total assets, which is below the $959 million average for the Global Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BPGLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The UBS Global Allocation P expense ratio is high compared to funds in the Global Moderate Allocation category. UBS Global Allocation P has an expense ratio of 1.18%, which is 13% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. UBS Global Allocation P has a portfolio turnover rate of 112%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Global Moderate Allocation category.
Recently, in the month of August 2026, UBS Global Allocation P returned 2.4%, which earned it a grade of A, as the Global Moderate Allocation category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
UBS Global Allocation P has a trailing yield of 1.85%, which is below the 2.59% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
UBS Global Allocation P Grades
Year to date, the fund has returned 9.9%, 0.0 percentage points better than the category, which translates into a grade of B. The fund has returned 17.8% over the past year (grade of A), 14.0% over the past three years (grade of B) and 5.6% per year over the past five years (grade of D) and 7.4% per year over the past 10 years (grade of C).
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BPGLX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BPGLX Return (NAV) | 2.4% | 1.3% | 17.8% | 14.0% | 5.6% | 7.4% |
| BPGLX Grade | A | C | A | B | D | C |
| +/- Category | 0.8% | -0.4% | 2.7% | 0.7% | -0.7% | 0.0% |
| Global Moderate Allocation Avg | 1.6% | 1.7% | 15.1% | 13.3% | 6.3% | 7.4% |
| BPGLX Tax Cost Ratio | na | na | 0.8% | 0.9% | 1.8% | 1.3% |
BPGLX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BPGLX Return (NAV) | 9.9% | 19.0% | 8.6% | 9.7% | -16.8% | 8.2% | 13.8% | 19.0% | -7.6% | 17.1% | 1.6% |
| BPGLX Grade | B | A | C | F | D | F | B | B | D | A | F |
| +/- Category | 0.0% | 2.9% | 0.1% | -2.6% | -3.4% | -3.4% | 4.1% | 1.4% | -0.4% | 3.1% | -5.1% |
| Global Moderate Allocation Avg | 9.9% | 16.1% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 10.0% |
| Total Risk Index: | 0.82 - Average |
| Category Risk Index: | 1.11 - High |
| Category Risk Grade: | F (96% Rank) |
| Beta: | 1.06 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $152 Mil |
| Fund Total Assets: | $ 36 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 112% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.2 years | |||
| Average Tenure: 3.4 years | |||
| Managers (Year): Brown Evan (2021), Oesch Thomas (2022), Fu Jade (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 678 |
| % in Top 10 Holdings: | 44.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 27.5% |
Portfolio Allocation |
|
| Domestic Stock: | 33.9% |
| Foreign Stock: | 15.1% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 22.0% |
| Foreign Bond: | 12.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 16.5% |
Purchase Information
| Fund Family: | UBS Asset Management |
| Phone Number: | 800-647-1568 |
| Website: | www.ubs.com |
| Status: | Open |
| Inception Date: | August 31, 1992 |
| Min. Initial Purchase: | $2,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.18% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | UBS Global Allocation P |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
