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prima:Board members propose to liquidate three shuttered mutual funds in Puerto Rico

Shareholders will vote on whether to support the closure of the investment companies, while their creator, the investment house UBS, has been dismissed as manager

July 25, 2025 - 2:41 PM

El pleito legal contra UBS fue incoado por el exboxeador Félix "Tito" Trinidad y otros ocho demandantes. (Archivo GFR/Media)
UBS and the boards of directors of three of the funds agreed that the termination date for the investment advisory and management agreements was July 19.

Surprisingly, the board of directors of three of Puerto Rico’s closed-end mutual funds unanimously proposed closing operations and selling and liquidating their assets, according to a report filed with the US Securities and Exchange Commission (SEC).

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