The Fondo de Ahorro de Panamá Publishes its Preliminary (Unaudited) Results for Second Quarter 2016
Panama | Aug 17, 2016
The Fondo de Ahorro de Panama (“FAP” or “Fund”) has published its portfolio performance report for the second quarter 2016 (“2Q2016”).
- Total Fund assets : USD 1,435.4 million;
- Total Fund net assets: USD 1,265.4 million;
- Performance – year-to-date at 2Q2016: 3.4%;
- Gross income – year-to-date at 2Q2016: USD 42.8 million; and
- Performance – last 12 months: 3.7%
Complete 2Q2016 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.