AMMAN —
Social Security Investment Fund (SSIF) retained a good performance throughout
the second quarter of 2021 as total assets kept growing to reach JD12 billion, compared
to JD11.2 million as at the end of 2020.
اضافة اعلان
These assets
were distributed over money market instruments that constituted 10.4 percent of
the total portfolio, bonds (58.1 percent), loans (3.4 percent), equity (17.9
percent), real estate investments (6.1 percent) and tourism investments, which
constituted 2.5 percent of the investment basket, according to SSIF’s CEO
Kholoud Saqqaf, in a press statement.
Saqqaf said
that the Fund’s income also grew to reach JD313 million b y the end of June, in
comparison with JD251 million for the same period of 2020, representing a
growth of 24.5 percent. This was attributed to the growth in the returns from
bonds, money market instruments, and the dividends streams from the companies
in which SSIF has stakes.
The SSIF’s
CEO pointed out that as one of the biggest institutional investors in the
national economy, the Fund has seized the investment opportunities in many
vital sectors.
“Since
beginning of the year, the Fund increased its ownership on selective grounds in
some strategic listed companies, given the temporary decline in stock prices.
Several companies in which SSIF invests have announced dividends distribution
from beginning of the year, of which the Fund's share was approximately JD51
million since beginning of the year,” Saqqaf said.
She added
that the Fund public equity portfolio registered around JD525 million in unrealized
book profits at the end of the second quarter compared to unrealized losses of
JD314 million for the same period of last year.
Saqqaf also
said that the bonds portfolio that constitutes 58.1 percent of the total
portfolio generated a return of JD196
million at the end June 2021, compared with JD188 for the same period of the
previous year, with 6.1 percent rate of return, the highest on investment
instruments invested by the Fund compared with the associated low level of
risk.
Saqqaf
announced that a number of projects in real estate and tourism sectors have
been recently launched in Amman and Aqaba, and the renovation is still under
process in the Crowne Plaza/Petra Hotel and the Intercontinental/Aqaba Hotel.
Saqqaf also announced that Daman Company for Investment and Agricultural
Industries, wholly owned company, will officially start its first agricultural
project in October, 2021.
She concluded
that in light of the actuarial studies of the Social Security Corporation (SSC)
that take place every three years, SSIF builds the strategic asset allocation
that takes into consideration the parameters of the national economy and
periodically revisits the asset allocation. Those studies set out the expected
scenarios for the future liabilities of the institution to participants and retirees,
she said, and the optimal asset allocation aiming to maintain SSC financial
sustainability.
As any
strategic financial investor, SSIF is keen to achieve the highest risk adjusted
returns on various investments, while being adherent to the investment policy.
Emphasizing that improved performance of the national economy will contribute
to improved returns on the Fund's investment instruments.
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