This question is on the minds of many investors. Many clients and potential clients have contacted our firm concerned about the effect of a default on their UBS Puerto Rico municipal bond funds that are heavily invested in the island’s debt The UBS Puerto Rico bond funds, including the Puerto…
UBS Puerto Rico operates 23 proprietary non-exchange-traded closed-end funds (UBS Funds). UBS is one of the key players in the Puerto Rico municipal debt market and has packaged and sold approximately $10 billion in municipal debt through the UBS Funds. It has been alleged that UBS marketed the UBS Funds…
The steep decline in prices of Puerto Rican bonds has caused local investors substantial investment losses in assets that many are claiming were sold to them as safe and secure bonds. According to a New York Times article, Puerto Rico’s woes stem from the fact that its 3.7 million residents…