“Some of the top-performing municipal bond funds over the past five years have held huge stakes in Puerto Rican debt. Now that Puerto Rico’s governor has said the island’s roughly $72 billion in debts are ‘not payable’ and asked for U.S. bankruptcy protection for the commonwealth, investors in those funds may take a big hit.  U.S. bond funds have an $11.3 billion total exposure to Puerto Rican debt as of June 29, according to mutual fund firm research Morningstar.  See a list of 20 bond funds with the most exposure to Puerto Rican debt below.  U.S. mutual funds are only required to disclose their holdings quarterly.”

http://www.cnbc.com/id/102798839

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