News Puerto Rico Investment funds: Puerto Rico Investors Sue Banks Over High-Risk Bond Funds
A group of older investors in Puerto Rico is suing the brokerage units of UBS AG and Popular Inc. for guiding them toward mutual funds that invested heavily in Puerto Rico bonds, causing them to ultimately lose much of their life savings, Reuters reports.
News Puerto Rico Investment funds: CERTAIN PUERTO RICO CLOSED-END FUNDS ANNOUNCE STRATEGIC REVIEW OF FUND STRUCTURE
The funds listed above (each, a "Fund" and together, the "Funds"), each a Puerto Rico unlisted closed-end fund registered under the Investment Company Act of 1940, as amended, each announced today that, in connection with ongoing reviews of options to provide better liquidity, value, and operational efficiencies for Fund shareholders, a determination has been made to pursue an alternative to the existing closed-end fund structure. Accordingly, the Board of Directors of each Fund is conducting a
News Puerto Rico Investment funds: Puerto Rico governor under fire as federal funds for solar projects are stalled
FILE - Jenniffer Gonzalez speaks after she was sworn in as governor outside the Capitol in San Juan, Puerto Rico, Jan. 2, 2025. (AP Photo/Alejandro Granadillo, File) SAN JUAN, Puerto Rico (AP) — ...
News Puerto Rico Investment funds: LemVega Capital Emerges as Puerto Rico's Leading Investment Firm Amid Strategic Growth and Innovation
SAN JUAN, PUERTO RICO- March 7, 2025- LemVega Capital has solidified its position as the leading investment management firm in Puerto Rico, leveraging visionary leadership, innovative strategies, and a favorable market climate to achieve unprecedented growth. This milestone caps a remarkable multi-year journey defined by strategic decision-making,...
News Puerto Rico Investment funds: Puerto Rico funds' shareholders will vote on liquidation
Shareholders of four Puerto Rico tax-exempt closed ended funds, with about $187 million in total net assets, will vote whether to liquidate shortly, after a several year legal struggle involving UBS.
News Puerto Rico Investment funds: Ocean Capital Exposes Latest Entrenchment Tactics Being Utilized by UBS Puerto Rico Bond Funds’ Boards of Directors
SAN JUAN, Puerto Rico, January 19, 2023--Ocean Capital LLC, a significant shareholder of numerous Puerto Rico closed-end bond funds managed or co-managed by an affiliate of UBS Financial Services Incorporated of Puerto Rico, today issued the following letter to shareholders of the funds.
News Puerto Rico Investment funds: Man sentenced to prison for laundering unemployment, pandemic funds in Puerto Rico
Funds from his bank account in Puerto Rico. Scamaroni-Cintron pleaded guilty on November 15, 2022 to sixteen violations of 18 U.S.C. S. 1596(a)(1)(B)(i) and admitted to withdrawing in excess of $ ...
News Puerto Rico Investment funds: Judge approves debt restructuring plan to recover Puerto Rico from bankruptcy
The judge overseeing Puerto Rico’s bankruptcy approved its debt-cutting plan, a decision that puts the island on a path to exiting bankruptcy after hurricanes, political turmoil and the pandemic ...
