San Juan, Puerto Rico – October 3, 2013
Lawyers with the Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, are investigating claims involving Puerto Rico UBS bond funds. UBS has been the most prominent broker-dealer operating in Puerto Rico for a number of years. As a result, many, if not most, individuals in Puerto Rico with brokerage accounts use UBS, resulting in UBS managing roughly $10 billion of assets of Puerto Rico residents.
Unfortunately, UBS recommended that many of these clients make significant investments in proprietary UBS bond funds. These UBS bond funds, such as the Tax-Free Puerto Rico Fund II, invest primarily in Puerto Rico municipal bonds.