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January 16, 2019  

Banner Year for Puerto Rico Fund

A rally in Puerto Rico’s bonds helped a distressed-debt fund deliver a triple-digit return last year.X-Square Opportunistic Debt Fund, a joint venture between Pluscios Management of Evanston, Ill., and X-Square Capital of San Juan, gained 124.4% in the 12 months ended Dec. 31. The full-year return includes a 7.7% loss in December due to yearend liquidity constraints and a spike in bond-market volatility. The fund had $50 million under...

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