Press Release

Second Quarter 2025 Reflects Positive and Resilient Performance

Panama | August 26, 2025

The Fondo de Ahorro de Panamá (“FAP” or “Fund”) has published its portfolio and performance report for the second quarter of 2025 (“2Q2025”).

Summary:

In the second quarter of 2025, the Fund reached B/.1,720.7 million in assets under management and preliminary net assets of B/.1,596.6 million.  During this period, it reported a gross profit of B/.50.3 million, bringing the total to B/.64.8 million for the first half of the year, equivalent to a cumulative gross return of 4.03% for the six months ended June 30, 2025.

The solid performance of 2Q2025 was driven by macroeconomic and geopolitical factors that created a favorable financial environment for both equity and fixed-income markets across most segments.

Over the past 12 months, the Fund achieved a return of 7.75%, exceeding its benchmark by 51 basis points (“bps”). From a medium-term perspective, the FAP posted a 6.95% return over the last three years, 112 bps above its reference index.

During the period, prudence remained one of the main pillars of the Fund’s investment strategy, with a focus on developed economies to preserve liquidity and manage risks, in line with its investment mandate aimed at capital preservation and controlled value generation.

Key Highlights:

  • Total Fund assets: B/. 1,720.7 million; *

  • Total Fund net assets: B/. 1,596.6 million;

  • Cumulative gross return for the year to 2Q2025: 4.03%;

  • Cumulative gross return for the 12 months ending 2Q2025: 7.75%;

  • Gross profit (before expenses) year-to-date at 2Q2025: B/. 64.8 million; and

  • Capitalization of B/.47.4 million in accrued interest from notes held in portfolio.

Complete 2Q2025 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.

*The monetary unit of the Republic of Panama is Balboas (B/.), which is at par and freely exchangeable with the United States dollar (USD); The Republic of Panama does not issue its own paper currency, and instead, the USD is used as legal tender, and is considered the Fund´s functional currency. The financial reports provided by our global custodian are in USD and form the financial basis of this report.

About the Fondo de Ahorro de Panama
The Fund was created by Law 38 of June 5, 2012, whose main objectives are:

  1. Establish a long-term savings mechanism for the Panamanian State; and

  2. Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.

Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com
For additional information visit www.fondoahorropanama.com
 
 
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