info@invercasasafi.com

INVERCASA SAFI is the first and only fund management firm in Nicaragua.

Founded in 2013, the company was granted regulatory approval a year later and established the first fund in 2014.

As a subsidiary of Grupo INVERCASA, one the leading conglomerates in the country, we leverage on more than 20 years of experience in the stock market, corporate finance, and asset management to provide our clients with a hands-off approach to their investment portfolio.

Our funds are publicly traded and authorized by the local securities regulator (SIBOIF).

Our Values

  • Accountability
  • Integrity
  • Transparency
  • Honesty
  • Respect

Our Mission

Provide investment opportunities that maximize the equity and add value to our clients, contributing to ease the access to capital markets with products designed for every type of investor.

Our Vision

Become the fund management firm leading in innovation and act as the go-to strategic ally for financial and real estate businesses in Central America.

 Our Board of Directors

Emiliano Maranhao
Chairman

Emiliano has a Master’s in Business Administration from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and Universidad Americana (UAM), as well as a Bachelor’s Degree in Business Administration from Universidad Centroamericana (UCA) in Managua.
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He is an Authorized Broker Agent of the Nicaraguan Stock Exchange (BVDN) and has over 15 years of experience in investment banking, treasury management, trading analysis, business valuation, feasibility studies, asset securitization, mergers and acquisitions, and security structuring.

Emiliano is also the Chairman of the Board of Directors at INVERCASA, our parent company.

Raúl Adolfo Amador Somarriba
Vice Chairman

Raúl Adolfo has a Bachelor’s Degree in Accounting from the Smeal College of Business of Pennsylvania State University, and a Graduate Degree in Finance and Investment through the Nicaraguan Stock Exchange (BVDN) at Universidad Americana (UAM) in Managua.
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He holds a Series 3 License required to trade futures and commodities from the U.S. Commodity Futures Trading Commission (CFTC). Additionally, he is also an Authorized Broker Agent at the Nicaraguan Stock Exchange (BVDN). He specializes in international markets and focuses in technical analysis. Raúl has over 5 years of experience in futures, options, stocks, and ETFs active trading.

Raul also acts as the Vice Chairman of the Board of Directors of INVERCASA, our parent company.

Silmalila Ramírez Pérez
Secretary

Silmalila has a Master’s Degree in Marketing from Universidad Americana UAM; she also has a Law Degree with a Specialty in Private Law from the Universidad Centroamericana UCA.
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During the last 10 years she has been actively involved in the national stock market, developing and implementing strategic marketing plans for INVERCASA SAFI, S.A., providing her services from Grupo INVERCASA, a company in which she currently works as Corporate Marketing Manager.

Eliett Auxiliadora Martinez Zavala
Board Member

Eliett Martinez has a degree in Public Accounting and Audit, she also has a postgraduate course in Finance, she is a Certified Public Accountant, perpetual number 1061. With more than 20 years of professional development in the field of Internal Audit in Service Companies, Banks, Insurance Companies and Stock Enchanges.

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Besides, she has experience in Continuing Education in the Control System Internal (COSO), Risk Management, Laundering Prevention of Assets, Fraud, and Banking Operations, and application of External Audit processes acquired at PWC firm. She is the Corporate Auditor of Grupo Invercasa Nicaragua.
Jenny Parrales Parrales
Treasurer

Jenny has a Master’s Degree in Economics by Universidad Centroamericana (UCA) in Managua and a MBA by Keiser University . She also holds a BA in Economics from UCA.
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Over the past 10 years, Jenny has been actively involved in the local stock market while working for our sister company INVERCASA, where she is the current General Manager.

Our management team

Emiliano Maranhao
General Manager

Emiliano has a Master’s in Business Administration from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and Universidad Americana (UAM), as well as a Bachelor’s Degree in Business Administration from Universidad Centroamericana (UCA) in Managua.
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He is an Authorized Broker Agent of the Nicaraguan Stock Exchange (BVDN) and has over 15 years of experience in investment banking, treasury management, trading analysis, business valuation, feasibility studies, asset securitization, mergers and acquisitions, and security structuring.
Emiliano is also the Chairman of the Board of Directors at INVERCASA, our parent company.

Internal Auditor
Martha Campos
AML Compliance Officer

Martha has a degree in Business Administration, graduated from Universidad Centroamericana (UCA) in Managua, Nicaragua. He participated in the course “Investments and Financing through the Stock Market” taught by the Nicaraguan Stock Exchange, as well as international seminars and educational programs focused on Risk Management and Prevention in ML/TF/PF.

For more than 8 years she served as Substitute for the Risk Prevention Management in ML/TF/PF at INVERCASA Puesto de Bolsa.

Martha is the Risk Prevention Management in ML/TF/PF of INVERCASA SAFI since May 2019

Melissa Beteta
Suplente Administrador de PLD/FT

Melissa Paola Beteta Guevara has a degree in Public Accounting and Finance, graduated from the Universidad Politecnica de Nicaragua (UPOLI); she is currently pursuing a master’s degree in Finance at the Universidad Naciona Autónoma de Nicaragua (UNAN), has participated in five (5) Central American conferences on the Prevention of Money Laundering, financial crimes, financing and proliferation of massive weapons held by INVERCASA Sociedad Administradora de Fondos de Inversión S, A. as well as seminars and educational program focused on the management Risk Management and Prevention in ML/TF/PF. Beteta has 8 years of work experience, of which 5 years have been as General Accountant of INVERCASA SAFI and investment funds, in addition to supporting the institution’s operations area.

Melissa is the Substitute for the Risk Prevention Management in ML/TF/PF of INVERCASA SAFI since May 2021.

Organizational Structure and internal Policies


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Code of Conduct (in Spanish)

 

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Conflict of Interest Policy (in Spanish)

 

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Bylaws (in Spanish)

 

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Organizational Chart (in Spanish)

 

Account Agreement


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Account Agreement for Individuals (in Spanish)

 

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Account Agreement for Institutions (in Spanish)

 

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Account Agreement for Minors (in Spanish)

 

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Account Agreement for Joint Accounts (in Spanish)

 

Investment Advisors


 

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Registered Investment Advisors

 

 

Press Releases


 

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Press Release August 28, 2018

 

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Press Release June 11, 2019

 

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Press Release August 22, 2019

 

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Press Release September 05, 2022

 

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Financial Statements


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Audited Financial Statements 2014 (in Spanish)*

*published in La Gaceta No. 112, May 17, 2015 and in El Nuevo Diario, May 30, 2015

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Audited Financial Statements 2015 (in Spanish)*

*published in La Gaceta No. 90, May 16, 2016 and in La Prensa, April 30, 2016

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Audited Financial Statements 2016(in Spanish)*

*published in La Gaceta No. 101, May 31, 2017 and in La Prensa, May 6, 2017

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Audited Financial Statements 2017 (in Spanish)*

*published in La Gaceta No. 80, error corrected in La Gaceta 94, May 18, 2018, page 3334 and in La Prensa, May 15, 2018

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Audited Financial Statements 2018 (in Spanish)*

*published in La Gaceta No. 92, May 17, 2019 and in La Prensa, May 21, 2019

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Audited Financial Statements 2019 (in Spanish)*

*published in La Gaceta No. 91, May 21, 2020 and in La Prensa, May 20, 2020

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Audited Financial Statements 2020 (in Spanish)*

* Published in La Gaceta No. 102, June 04, 2021 and in La Prensa on May 25, 2021.

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Audited Financial Statements 2021 (in Spanish)*

*Published in La Gaceta No. 89, May 17, 2022. The financial statements were audited by KPMG, S.A. The opinion of the independent auditors, with their Financial Statements and notes, was known, resolved and authorized by the members of the Board of Directors and the General Assembly of Shareholders.

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Audited Financial Statements 2022 (in Spanish)*

*Published in La Gaceta No. 81, May 10, 2023.The financial statements were audited by PriceWaterHouseCoopers S.A. The opinion of the independent auditors, with their Financial Statements and notes, was known, resolved and authorized by the members of the Board of Directors and the General Assembly of Shareholders.