AEELA throws UBS under the Bus for the Management of Puerto Rico Government Bond

Noticel.com August 4, 2014 From 2010 to 2012 there was an increase of $ 50 million to over $ 300 million in the amount of assets of the Association of Employees of the Commonwealth (AEELA) managed by UBS, among these, bonds of the Corporation for Public Financing (PFC, for its acronym in English). PFC bonds, maturing in early August, will be the first default in the history of the Government of Puerto Rico. During that period, UBS AEELA acquired for about $ 179 million in bonds of Puerto Rico, which increased to $ 212 million the amount of related financial…