Press Release

The Fondo de Ahorro de Panama Announces Audited Consolidated Annual Financial Results for 2024 and Key Management Initiatives.

Panama | March 27, 2025

The Fondo de Ahorro de Panama, Panama’s Sovereign Wealth Fund, (hereinafter, “FAP” or “Fund”) announces its audited consolidated annual financial results for 2024 (in Spanish) and key management initiatives.*

Financial Highlights

The Fund closed in 2024, with a 7.12% gross return (2023: 9.88%).  In terms of net gains, the Fund generated B/.94.1 million (2023: B/.122.9 million). As a result, the Fund ended 2024, with net assets of B/.1,542.1 million (2023: B/.1,416.1 million). (Access our Annual Report 2024 in Spanish here).
 
These results are associated with our Strategic Asset Allocation, which defines our strategic portfolio (under the Fund’s Annual Investment Plan), and the performance of the established benchmarks.  The Fund’s strategic portfolio – which has a long-term profile – outperformed in 2024 the composite benchmark by 134 basis points (“pbs”).

Key Management Initiatives and other Events:

Below are our key management initiatives:

  • The capitalization of B/.31.9 million in cash contributions from the Panamanian State for the years 2018 and 2019.

  • The receipt of B/.1,272.4 million in promissory notes for pending contributions from the Panamanian State for the years 2020 to 2023.

  • Expansion into alternative investment (infrastructure and private debt) to enhance diversification and inflation protection.

  • The Panamanian State, in accordance with Law 445 of 2024, suspends contributions to the FAP derived from Panama Canal revenues for the years 2024-2026.

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.

For additional information visit www.fondoahorropanama.com

* The financial figures presented are expressed in Balboas, the currency unit of the Republic of Panama (B /.), Which is at par and freely exchangeable with the United States dollar (USD or US Dollar), considered the functional currency of Fondo de Ahorro de Panamá.

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