UBS Bond Fund Collapse Investigation

October 21, 2013

Salas Wang LLC is investigating claims for investors of  UBS Puerto Rico bond funds.  We believe that UBS recommended that its clients make large investments in proprietary, highly leveraged, risky, UBS bond funds.  Some investors allege that the quality and character of these funds were misrepresented.  Specifically, the investigation involves:

Tax-Free Puerto Rico Fund

Tax-Free Puerto Rico Fund II

Tax-Free Puerto Rico Target Maturity Fund

Puerto Rico AAA Portfolio Target Maturity Fund, Inc.

Puerto Rico AAA Portfolio Bond Fund

Puerto Rico AAA Portfolio Bond Fund II

Puerto Rico GNMA & U.S. Government Target Maturity Fund

Puerto Rico Mortgage-Backed & U.S. Government Securities Fund

Puerto Rico Fixed Income Fund

Puerto Rico Fixed Income Fund II

Puerto Rico Fixed Income Fund III

Puerto Rico Fixed Income Fund IV

Puerto Rico Fixed Income Fund V

Puerto Rico Fixed Income Fund VI

Puerto Rico Short Term Investment Fund

Multi-Select Securities Puerto Rico Fund

Puerto Rico Investors Tax-Free Fund

Puerto Rico Investors Tax-Free Fund II

Puerto Rico Investors Tax-Free Fund III

Puerto Rico Investors Tax-Free Fund IV

Puerto Rico Investors Tax-Free Fund V

Puerto Rico Investors Tax-Free Fund VI

According to recent complaints,  these funds have sustained substantial losses.  Further Puerto Rico UBS brokers also recommended that their clients borrow funds, either through traditional borrowing such as a home equity loan or through a margin account, to invest even larger amounts into these proprietary funds.  The net result is layers and layers of borrowed money being used to buy more securities, which exponentially increases the risks the investors carried.  Ultimately, many of these funds fell drastically in value, resulting in catastrophic losses for many investors.

If you or someone you know has invested in these funds, please contact Jeffrey M. Salas at 312.803.4963, jsalas@salaswang.com, or via the contact form below.

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