INVESTIGATIONS – UBS WILLOW FUND
The Willow Fund was a hedge fund offered by Union Bank of Switzerland (UBS) to the bank’s brokerage customers. Recently, UBS announced that it was liquidating the Willow fund. Colling Gilbert Wright & Carter is currently investigating the sales practices employed by UBS representatives when recommending and selling the Willow Fund. It is believed that UBS financial advisors represented the fund to investors as a safe income producing investment and an alternative to traditional income producing investments such as CD’s and money market funds. However, beginning in 2008, the fund managers began taking large bets in speculative credit default swaps “CDS” linked to foreign sovereign debt and other sub-prime credit.
In October 2012, UBS announced that it was closing the Willow Fund which had sustained losses exceeding 75% through October 2012, due in large part to the declines in the default swaps. We do not believe that investors were adequately told about the risks of investing in the Willow Fund or the shift in the fund’s strategy to taking on more aggressive and speculative positions.
For additional information, please contactColling Gilbert Wright & Carter. You may call toll free (407) 712-7300 or (407) 712-7300. We only represent investors on a contingency fee basis and will not get paid unless we are successful