Severance Fund assets add more than $ 431 million

The assets managed by the Severance Fund of the Ecuadorian Teacher’s Staff (FCME for its Spanish acronym) add up $ 431’410 201.98, explained on August 31 Juan José Castelló, President of the guild, during the Assembly of teachers held in Guayaquil.

Castelló explained that of this money, $ 6.6 million correspond to the available funds of the institution; $ 177.7 million to privative investment; $ 94.3 million to non-private investment; $ 108.2 million of real estate investment projects; $ 18.9 million in receivable accounts; $ 10.4 million correspond to property and equipment and $ 15,000 payable to repossessed assets

Several teachers requested that before rejecting the proposal that the funds become managed by the Bank of the Ecuadorian Institute of Social Security (Biess) figures should be transparented.