For period ending September 30, 2006	   Exhibit 77 Q.1

File number 811-2802


UBS CASHFUND INC.
SUB-ADVISORY CONTRACT
Contract made as of April 1, 2006, between UBS FINANCIAL SERVICES INC.  (UBS
Financial Services), a Delaware corporation registered as a broker-dealer
under the Securities Exchange Act of 1934, as amended (1934 Act), and as
an investment adviser under the Investment Advisers Act of 1940, as amended
(Advisers Act), and UBS GLOBAL ASSET MANAGEMENT (AMERICAS) INC.
(UBS Global Americas), a Delaware corporation registered as an
investment adviser under the Advisers Act.
WHEREAS, UBS Financial Services wishes to retain UBS Global Americas as
sub-adviser to provide certain investment advisory services to UBS Financial
Services in connection with UBS Financial Services services as investment
adviser to UBS Cashfund Inc. (the Fund), an open-end, diversified
management investment company registered under the Investment Company
Act of 1940, as amended (the 1940 Act); and
WHEREAS, UBS Global Americas is willing to render such sub-advisory
services as described herein to UBS Financial Services upon the terms
and for the compensation set forth below;
NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, it is agreed between the parties as follows:
      1. Appointment.  UBS Financial Services hereby appoints UBS
	 Global Americas its sub-adviser and UBS Global Americas
	 accepts such appointment and agrees that it will furnish the
	 services set forth in paragraph 2 below.
      2. Services.  Subject to the supervision of the Funds board of
	 directors, UBS Global America will provide a continuous
	 investment program for the Funds portfolio, including
	 investment research and management with respect to all
	 securities and investments and cash equivalents in the portfolio.
	 UBS Global Americas will determine from time to time what securities
	 and other investments will be purchased, retained or sold by the Fund.
	 UBS Global Americas will provide the services under this Contract in
	 accordance with the Funds investment objective, policies and
	 restrictions as stated in the Funds current prospectus.  UBS Global
	 Americas further agrees that it:
      (a) will conform with all applicable rules and regulations of the
	 Securities and Exchange Commission;
      (b) will place orders pursuant to its investment determinations for
	 the Fund either directly with the issuer or with any broker or dealer.
	 In placing orders with brokers and dealers, UBS Global Americas
	 will attempt to obtain the best net price and the most favorable
	 execution of its orders.  Consistent with this obligation, when
	 the execution and price offered by two or more brokers or
	 dealers are comparable, UBS Global Americas may, in its discretion,
	 purchase and sell portfolio securities to and from brokers and
	 dealers who provide the Fund with research, advice and other
	 services.  In no instance will portfolio securities be purchased
	 from or sold to UBS Financial Services, UBS Global Americas, or
	 any affiliated person thereof except in accordance with the rules
	 and regulations promulgated by the Securities and Exchange
	 Commission pursuant to the 1940 Act.
      (c) will maintain all books and records with respect to the Funds
	 securities transactions and will furnish the Funds board of
	 directors such periodic and special reports as UBS Financial
	 Services or the Funds board may request.
      3. Services Not Exclusive.  UBS Global Americas services hereunder
	 are not deemed to be exclusive, and UBS Global Americas is free
	 to render advisory, administrative or other services to other
	 funds or clients so long as UBS Global Americas services under
	 this Contract are not impaired thereby.
      4. Books and Records.  In compliance with the requirements of Rule
	 31a-3 under the 1940 Act, UBS Global Americas agrees that all
	 records it maintains for the Fund are the property of the Fund,
	 and further agrees to surrender promptly to the Fund any such
	 records upon the Funds request.  UBS Global Americas agrees to
	 maintain for the Fund the records the Fund is required to maintain
	 under Rule 31a-1(b)(1) (but limited to maintaining original
	 confirmations of purchase and sales of securities showing for
	 each such transaction the name and quantity of securities, the
	 unit and aggregate purchase or sale price, commission paid, the
	 market on which effected, the trade date, the settlement date,
	 and the name of the person through or from whom purchased or
	 received or to whom sold or delivered) and the records the Fund
	 is required to maintain under Rule 31a-1(b)(2)(ii), (3), (5),
	 (6), (7), (9) and (10), and to preserve for the periods
	 prescribed by Rule 31a-2 under the 1940 Act the records it
	 maintains for the Fund.
      5. Expenses.  During the term of this Contract, UBS Global Americas
	 will pay all expenses incurred by it in connection with its
	 services under this Contract.
      6. Compensation.  For the services provided and expenses assumed
	 pursuant to this Contract, UBS Financial Services will pay UBS
	 Global Americas a percentage of the fee received by UBS Financial
	 Services pursuant to the Investment Advisory and Administration
	 Contract with respect to such Series, such percentage to be equal to,
	 on an annual basis, 0.06% of such Funds average daily net assets,
	 such compensation to be paid monthly.
      7. Limitation of Liability.  UBS Global Americas will not be liable for
	 any error of judgment or mistake of law or for any loss suffered by
	 UBS Financial Services or by the Fund or its shareholders in
	 connection with the performance of this Contract, except a loss
	 resulting from willful misfeasance, bad faith or gross negligence on
	 its part in the performance of its duties or from reckless disregard
	 by it of its obligations or duties under this Contract.
      8. Duration and Termination.  This Contract, unless sooner terminated
	 as provided herein, will continue automatically for successive
	 periods of 12 months each, provided such continuance is specifically
	 approved at least annually (a) by a vote of a majority of those
	 members of the Funds board of directors who are not parties to
	 this Contract or interested persons of any such party, cast in
	 person at a meeting called for the purpose of voting on such
	 approval, and (b) by the Funds board of directors or by vote of
	 a majority of the outstanding voting securities of the Fund.
	 Notwithstanding the foregoing, this Contract may be terminated
	 by either party hereto at any time, without the payment of any
	 penalty, on 90 days written notice to the other party, and will
	 be terminated automatically upon any termination of the Investment
	 Advisory and Administration Contract between the Fund and UBS
	 Financial Services. In addition, notwithstanding the foregoing,
	 this Contract may be terminated by the Fund at any time, without
	 the payment of any penalty, by vote of the Funds board of
	 directors or by vote of a majority of the outstanding voting
	 securities of the Fund on 60 days written notice to UBS Global
	 Americas.
      9. Amendment of This Contract.  No provision of this Contract
	 may be changed, waived, discharged or terminated orally, but
	 only by an instrument in writing signed by the party against
	 which enforcement of the change, waiver, discharge or termination
	 is sought, and no amendment of this Contract shall be effective
	 until approved by vote of the holders of a majority of the Funds
	 outstanding voting securities.
      10. Miscellaneous.  The captions in this Contract are included
	 for convenience of reference only and in no way define or delimit
	 any of the provisions hereof or otherwise affect their construction
	 or effect.  If any provision of this Contract shall be held or
	 made invalid by a court decision, statute, rule or otherwise,
	 the remainder of this Contract shall not be affected thereby.
	 This contract shall be binding upon and shall inure to the
	 benefit of the parties hereto and their respective successors
	 and shall be governed by Delaware law.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be executed by their officers designated below as of the day and year
first above written.




Attest:/s/ Robert Zakem
Name:	Robert Zakem
Title:	Executive Director

UBS FINANCIAL SERVICES INC.



By: /s/ Stephen Roussin
Name:  Stephen Roussin
Title:	Managing Director & Head of ICS





Attest:/s/ Eric Sanders
Name:	Eric Sanders
Title:	Director and Associate General Counsel

UBS GLOBAL ASSET MANAGEMENT (AMERICAS) INC.



By: /s/ Keith A. Weller
Name:	Keith A. Weller
Title:	Executive Director & Sr. Assoc. Gen. Counsel