Press Release

Publication of Audited Financial Statements for the Second Quarter 2024 

Panamá | November 6, 2024

The Fondo de Ahorro de Panama (the “FAP” or the “Fund”) has released its audited financial statements for the second quarter of 2024 (“2Q2024”).  The following are highlights of the quarter:

• The cumulative gross return for the period to 2Q2024 was 3.42%.

• Net income for the same period was B/.44.9 million. *

• At the end of 2Q2024, the Fund generated B/.26.8 million in interest and dividends.

• Net assets closed the period at B/. 1,460.9 million.

*The official currency 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 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 Panamá

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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