Measured according to its investment objectives – cumulative dividends and preservation of net asset value (NAV)\u00a0– the Fund has delivered positive returns over the past one-, three- and five-year periods, as well as since inception.<\/p>\n
While total annual returns based on market prices over one- and three-year periods have been impacted by the lack of liquidity for closed-end funds, long-term income investors who have not sold their shares have had no cash impact from this volatility in market prices.<\/p>\n\t\t\t\t![\"fund-4-returns-as-of\"](\"https:\/\/ubsprfunds.com\/wp-content\/uploads\/2021\/08\/fund-4-returns-as-of-1024x751.png\" "\\"fund-4-returns-as-of\\"")
\n
\n\t\tTHE BOARD’S OVERSIGHT OF THE FUND’S PERFORMANCE\n\t<\/h2>\n\t
The Fund performed strongly from inception until the market crash in 2013 and has performed positively since the end 2015, as it has continued to provide its shareholders with consistent monthly income. While the crash of the Puerto Rico municipal bond market affected all investors in these markets, under the Board’s leadership, the Fund continued to deliver monthly tax-advantaged income, conducting share repurchases to provide liquidity to selling shareholders while accreting value to those who held their investment.<\/p>\n
With respect to cumulative dividends and change in NAV, the\u00a0Fund has delivered positive returns over the past one-, three- and five-year periods, as well as since inception, despite the significant decline in the value of Puerto Rico municipal bonds over its lifetime.<\/p>\n
\n\t\tTHE FUND’S Positive outlook\n\t<\/h2>\n\t
Today, the Board believes the outlook for the Fund is positive. As the Puerto Rico bond market emerges, both the income and liquidity of the Fund can be expected to improve. At the current Board’s direction, the Fund continues to work tirelessly to maximize shareholder returns, including proceeding with a registration with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940, which may contribute to increased liquidity and reduced market discount to NAV, paving the way for further positive returns. The Board is keenly aware of the need for liquidity in the Fund shares and will continue to make achieving this a strategic priority.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
TAX-FREE FIXED INCOME FUND IV FOR PUERTO RICO RESIDENTS FUND PERFORMANCE A TRACK RECORD OF CONSISTENT, TAX-ADVANTAGED INCOME The Fund’s investment objective is to provide its shareholders with current income, as consistent with the preservation of capital. In fact, since inception the Fund has distributed $8.92 per share in cumulative dividends to its shareholders. \u00a0As…<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":287,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-309","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/pages\/309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/comments?post=309"}],"version-history":[{"count":0,"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/pages\/309\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/pages\/287"}],"wp:attachment":[{"href":"https:\/\/ubsprfunds.com\/en\/wp-json\/wp\/v2\/media?parent=309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}