The ProFunds UltraLatin America Fund Was Down 37.33% In 2014

The ProFunds UltraLatin America Fund, which trades under the ticker symbols UBPSX and UBPIX, is a non-diversified fund that seeks to match 200% of the daily performance of the BNY Mellon Latin America 35 ADR Index. In other words, the fund attempts to move twice as much as the index in the same direction. The fund seeks to invest its assets in options, derivatives, swaps, and primary equity listings on either Latin American or US-based stock exchanges.

The fund has consistently had very poor performance. In 2014, the Service-class shares, UBPSX, were down 37.33% for the year, and the 5-year average annual return is  negative 21.43%.

The fund, managed by Alexander Ilyasov, has a heavy concentration in Brazilian companies. As of October 31, 2014, eight of the top ten equity holdings of UBPSX were Brazilian equities, increasing the risk of experiencing volatile currency swings.

If your financial advisor or stockbroker recommended that you invest in the ProFunds UltraLatin America Fund, you may have options to recover your investment loss. If your advisor failed to fully disclose the risks of investing in the ProFunds UltraLatin America Fund, then you may have a claim for misrepresentation. If your investment objective was to only invest in safe and stable investments, you may have a claim for unsuitability. If the ProFunds UltraLatin America Fund made up a large portion of your portfolio, then you may have a claim for over-concentration and lack of diversification. If your advisor purchased this fund without your knowledge, you may have a claim for unauthorized trading. If your advisor purchased this fund on margin, you may have a claim for excessive use of margin and negligence.

The attorneys at Carlson & Associates, P.A., located in Miami, Florida, represent investors who have lost money due to the improper conduct of financial advisors. If you would like to have a free consultation, we can be reached at (305) 372-9700 to discuss your options.