UBS
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- UBS Funds Under Investigation
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- UBS Absolute Return Bond Fund - Y, symbol: BNRYX
- UBS Absolute Return Bond Fund - A, symbol: BNRAX
- UBS Absolute Return Bond Fund - C, symbol: BNRCX
Overview
UBS Under Investigation
Our subprime team is currently investigating UBS and its practices in selling, valuing and pricing securities. In recent years, UBS has been one of the leading underwriters of mortgage-backed securities and collateralized debt obligations. The firm has also sponsored hundreds of mutual funds, both public and private and domestic and international, many of which appear to have been invested in mortgage-backed and asset-backed securities. Now UBS's pricings and valuations of these instruments have become highly suspect and the harm to investors throughout the world could be significant. Have UBS's clients and investors been overcharged for subprime securities they purchased? Have they paid too much in management fees? Were these securities sold as safe, low risk, AAA-rated securities? Are they being told the true value of their holdings? These are but a few of the questions we hope to answer.
News Commentary
Did UBS Dump Toxic Assets?
UBS now faces legal claims that it dumped millions of dollars in mortgage investments on its clients. German lender HSH Nordbank AG recently filed a lawsuit seeking to recover significant losses related to investment in subprime securities.
Concern Over the Pricing and Valuation of Subprime Securities Escalates
Over recent weeks there have been growing concerns over the pricing and valuation of subprime securities by the major investment banks. Such pricings and valuations have serious implications for investors in both the investment banks and the subprime securities market.
Did UBS Overvalue Mortgage Bonds? Wall Street Probes Expand; Criminal Charges Could Be Filed
On February 2, 2008, Kara Scannell, Anita Raghavan and Amir Eßfrati reported in the Wall Street Journal that UBS AG is now under federal criminal investigation for misleading investors about the value of its mortgage bonds.
Billions in Additional Losses Forecast for Subprime Investors, Investment Banks
Subprime investors and investment banks are bracing for billions of dollars in additional losses as part of the fallout from the credit crisis and subprime mortgage disaster.
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