The Fondo de Ahorro de Panamá Publishes its Preliminary (Unaudited) Second Quarter 2017 Results
Panama | may 18, 2017
The Fondo de Ahorro de Panama (“FAP” or “Fund”) has published its portfolio performance report for the first quarter 2017 (“1Q2017”).
- Total Fund assets: USD 1,558.9 million;
- Total Fund net assets: USD 1,283.2 million;
- Performance – year-to-date at 1Q2017: 1.6%;
- Gross income – year-to-date at 1Q2017: USD 19.6 million; and
- Performance – last 12 months: 3.1%
Complete 1Q2017 Report (in Spanish)
The information presented has not been independently audited. Information regarding gross income (performance) include interests, dividends and assets valuations on a mark-to-market basis before costs.
About the Fondo de Ahorro de Panama
The Fund was created by Law 38 of June 5, 2012, whose main objectives are:
- Establish a long-term savings mechanism for the Panamanian State; and
- Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.