“Should I Sell or Hold my UBS Puerto Rico Closed End Mutual Fund”?

A big concern for UBS and Merrill Lynch clients who own bonds or bond funds with Puerto Rico debt  remains whether to continue to hold the funds or sell.  Unfortunately, it is impossible to determine what will happen with the value of these funds.  This week it was announced that Puerto Rico is contemplating more than a hundred different proposals intended to jumpstart its sagging economy – including legal prostitution and marijuana use. Considering unemployment is at 15 percent, while 45 percent of the population is living in poverty – drastic steps must be taken to improve the economy.  The question is what impact will this have on the UBS closed end funds at issue in over 200 current FINRA arbitration claims and whether clients should sell now or continue to hold the funds.  Unfortunately, it is simply too difficult to determine what the future value of these funds will be regardless of what steps are taken by the Commonwealth to improve its economy.  Many FINRA arbitrators, however, do like to see realized losses that are set or fixed prior to the hearing.  But we have recommended to our clients to speak with their new, current adviser for advice on whether to hold or sell the funds.  To learn more about securities fraud claims against UBS, please visit www.UbsBondFundFraud.com

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