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Robert W Pearce
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Mr. Pearce has tried, arbitrated and mediated numerous disputes involving complex securities, commodities, administrative, contract, commercial, business tort and employment law issues for over 30 years. He has represented hundreds of clients in Federal and state courts (trial and appellate) as... More
My company:
The Law Offices of Robert Wayne Pearce, P.A.
My blog:
The Investor's Rights Law Blog
  • UBS PUERTO RICO BOND FUND INVESTORS CONTINUE TO LOSE 0 comments
    Dec 18, 2013 3:21 PM

    Although there was a blip in the UBS sponsored Puerto Rico closed-end bond fund prices recently, the net asset values (NAVs) of the various funds have continued their move downward. The decline is a reflection of the Puerto Rican economy which has been in recession for nearly 8 years. The most recent NAV's published on November 27 and 29, 2013, put the value of the funds as follows:

    Although there was a blip in the UBS sponsored Puerto Rico closed-end bond fund prices recently, the net asset values (NAVs) of the various funds have continued their move downward. The decline is a reflection of the Puerto Rican economy which has been in recession for nearly 8 years. The most recent NAV's published on November 27 and 29, 2013, put the value of the funds as follows:

    Name of the Fund - NAV

    • Tax-Free Puerto Rico Fund: 5.08
    • Tax-Free Puerto Rico Fund II: 4.58
    • Tax-Free Puerto Rico Target Maturity Fund: 4.46
    • Puerto Rico AAA Portfolio Target Maturity Fund: 7.74
    • Puerto Rico AAA Portfolio Bond Fund: 7.31
    • Puerto Rico AAA Portfolio Bond Fund II: 8.26
    • Puerto Rico GNMA & US Govmt. Target Maturity Fund: 8.07
    • P.R. Mortgage-Backed & US Govmt. Securities Fund: 6.14
    • Puerto Rico Fixed Income Fund: 3.61
    • Puerto Rico Fixed Income Fund II: 4.22
    • Puerto Rico Fixed Income Fund III: 4.02
    • Puerto Rico Fixed Income Fund IV: 5.12
    • Puerto Rico Fixed Income Fund V: 4.56
    • Puerto Rico Fixed Income Fund VI: 5.42
    • Puerto Rico Investors Tax-Free Fund: 4.13
    • Puerto Rico Investors Tax-Free Fund II: 3.98
    • Puerto Rico Investors Tax-Free Fund III: 4.40
    • Puerto Rico Investors Tax-Free Fund IV: 3.87
    • Puerto Rico Investors Tax-Free Fund V: 4.23
    • Puerto Rico Investors Tax-Free Fund VI: 5.01
    • Puerto Rico Tax-Free Target Maturity Fund: 0.96
    • Puerto Rico Tax-Free Target Maturity Fund II: 1.60
    • Puerto Rico Investors Bond Fund: 4.44

    Notwithstanding, UBS Puerto Rico financial advisors have continued to recommend the funds as a defensive measure against lawsuits and arbitration claims. A large number of investors have called our offices with stories about how their brokers claim this is a buying opportunity. Nothing could be further from the truth! The Puerto Rican economy has not turned the corner. In fact, it has not even approached the corner. Governor Alejandro Garcia Padilla is working hard, but the Federal government has offered nothing but another bureaucratic advisory council to the island. There can be no dispute that the combination of a long recession, a shrinking population, high unemployment, an unmotivated workforce, a population with a great dependence upon welfare benefits and overwhelming debt with a debt service at the highest rates will continue to crush the hopes of any recovery. The UBS Puerto Rico financial advisors simply have no reasonable basis for their recommendations.

    The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. Please see our Instablog profile (left column) for ways to contact us and get answers to any of your questions about this blog post and/or any related matter.

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