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

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.

Carlos Eduardo Téllez Páramo

Carlos Eduardo has a Degree in Law from the Universidad Nacional Autonoma de Nicaragua (UNAN – Managua) and attended the Executive Program on Legal Aspects of International Business at Georgetown University Law Center together with INCAE Business School.
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He is an outstanding lawyer in Nicaragua, having participated in important transactions, mainly in the financial sector, telecommunications, infrastructure, distribution, commerce, services, and real estate. He has also been involved in the process of revision to introduce changes and motions of laws, decrees and bills to the National Assembly of Nicaragua.

Since January 2010, Carlos Eduardo acts as Managing Partner at the law firm García & Bodan in Managua, where he has worked since 2000.

Jenny Parrales Parrales

Jenny holds 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.

Eduardo José Somarriba Lucas

Eduardo holds an MBA from Instituto Centroamericano de Administración de Empresas (INCAE). He is a Civil Engineer with a Degree from University of Costa Rica (UCR), and attended the Real Estate Development Program at New York University (NYU).
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He has experience in the financial sector, having participated in teams of securities structuring, business valuation and investment review. Eduardo has also participated the development of real estate projects with residential and commercial purposes, among them the Tower 2 of the INVERCASA Financial Center.

Since March 2014, Eduardo has been the General Manager at Desarrolladora Bonanzas de Centroamérica, S.A. (DEBOCASA).

Our management team

Danilo Salinas Baldizón
General Manager

Danilo holds a Master of Finance (MFin) from the A.B. Freeman School of Business at Tulane University in New Orleans. He is a former Fulbright grantee and also holds a Bachelor’s Degree in Economics and Finance from Thomas More University in Managua.
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He has worked in several industries in the financial sector, such as commercial banking, brokerage, asset management and investment banking. Danilo has vast experience in financial modeling, business valuation, risk management and investment analysis. Throughout his career, Danilo has developed solid understanding of corporate finance, M&A transactions and capital markets.

Danilo is the General Manager of INVERCASA SAFI since May 2016 and is also a Member of the Board of Directors of INVERCASA, our parent company.

Beylin Acuña
Internal Auditor
Martha Campos
AML Compliance Officer

Organizational Structure and internal Policies



Code of Conduct (in Spanish)




Conflict of Interest Policy (in Spanish)




Bylaws (in Spanish)




Organizational Chart (in Spanish)


Account Agreement



Account Agreement for Individuals (in Spanish)




Account Agreement for Institutions (in Spanish)




Account Agreement for Minors (in Spanish)




Account Agreement for Joint Accounts (in Spanish)


Investment Advisors




Registered Investment Advisors



Press Releases




Press Release August 28, 2018




Press Release June 11, 2019




Press Release August 22, 2019




Financial Statements



Audited Financial Statements 2014 (in Spanish)*

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



Audited Financial Statements 2015 (in Spanish)*

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



Audited Financial Statements 2016(in Spanish)*

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



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



Audited Financial Statements 2018 (in Spanish)*

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



Audited Financial Statements 2019 (in Spanish)*

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