The amount is equivalent to 2.5% of the total funds managed by the financial entity of the Ecuadorian Social Security Institute.
The Bank of the Ecuadorian Institute of Social Security (Biess) reported, this Wednesday, that it will invest $ 500 million in the renewal of State bonds as part of its investment plan scheduled for this 2021.
The investment amount is equivalent to 2.5% of the total funds managed by the financial entity, as indicated in a statement.
“The renewal of these bonds is part of a financial strategy to increase, maintain productive and generate maximum profitability for the investment portfolio, through safe operations for the benefit of all IESS affiliates and retirees,” said the entity.
“They are safe operations for the benefit of all members and retirees,” he says.
According to Biess, investments in government bonds have a yield of 7.98% that also represent the injection of resources that contribute to the revitalization of the national economy.
“The renewal of these bonds includes a financial strategy to increase, keep productive and generate maximum profitability for the investment portfolio through safe operations for the benefit of all IESS affiliates and retirees,” added the institution.
The Biess justified its decision considering that, to date, the balance of investments in government bonds has decreased by 7% in relation to the previous year. And he says that it aims to increase and generate more profitability to the investment portfolio.
According to official figures, until November of this year the financial entity’s global investment portfolio amounts to more than $ 21,000 million, which makes it one of the largest and strongest investment banks in the country. (I)
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