Fondo de Ahorro de Panamá (FAP)

Panama US$ 1.2 Billion
Established: 2012
Transparency Rating: n/a
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Origin: Non-commodity
Firm Investment Style: n/a
Entity Structure: Fund
Population Est.: 3.802 million – 2012
Wealth Per Capita Est.: $316
FAP

Summary
Incorporated into law on June 5, 2012, the Fondo de Ahorro de Panamá (FAP), Panama’s sovereign wealth fund, is to be funded by revenue from an expanded Panama Canal. The fund would act as both a savings fund and stabilization fund.

The main objectives include a mechanism for long-term savings for the Panamanian state and a stabilization mechanism for state of emergency cases declared by the Cabinet and economic recession.

Background
Initial funding started at US$ 300 million. Prior funds came from a vehicle called Fondo Fiduciario para el Desarrollo (Fiduciary Fund for Development, FFD). The Fondo de Ahorro de Panamá replaced the FFD in 2012 by the June 5th Law. The Fondo de Ahorro de Panamá would receive more revenue after the Panama Canal’s US$ 5.25 billion expansion to be completed in mid-2015.

Strategies and Objectives

Asset Allocation

Key People and Executives

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Governance
The Fondo de Ahorro de Panamá is managed by a Board of Directors and Executive Team. It is owned by Panama’s Ministry of Economy and Finance.

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