AMMAN —
Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf said that SSIF
retained a good performance in 2021. Total assets kept growing to reach JD12.3
billion at the end of the year, compared to JD11.2 billion at the end of 2020,
a JD1.1 billion, or 10 percent, increase, according to Al-Mamlaka TV.
اضافة اعلان
Presenting the
SSIF 2021 preliminary financial results and its key achievements at a press
conference, Saqqaf also pointed out that SSIF’s income grew in 2021 to reach
JD575 million, in comparison to JD509 million in 2020, representing a 13
percent growth, attributed mainly to the growth in returns from bonds, money
market instruments, and equity portfolios.
Saqqaf talked
about the prudent allocation of SSIF’s total assets, in view of the pandemic,
which were as follows: 57 percent in government bonds and bills, 16.6 percent
in equities, 12.9 percent in money markets instruments, 6.1 percent in real
estate, 3.4 percent in tourism, and 2.4 percent in loans, as well as and about
the current and future expectations of the national economy.
The 2021
performance of the
Amman Stock Exchange (ASE) positively impacted SSIF’s equity
portfolio, said Saqqaf, adding that the market value of this portfolio had
increased by JD411 million at the end of 2021, while it registered a JD371
million decline at the end of 2020.
She said that
SSIF increased its ownership in some strategic publicly traded companies in the
banking, mining, and pharmaceuticals sectors.
All these
developments led the public equity portfolio to edge JD2 billion, which
represents 12 percent of the total ASE market value.
Saqqaf said that
the bonds portfolio, which makes up 57 percent of the total portfolio,
generated an income of JD411 million at the end of 2021, with a 6.1 percent
rate of return, which is associated with low risk; it was the highest among
returns of all other portfolios.
According to
Saqqaf, SSIF’s updated strategy (2022–2024) targets investing in Public Private
Partnership mega infrastructure projects, like the National Desalination
Project and the project entailing building 15 public schools, as well as
expanding its investments in the mining sector.
SSIF is keen to
further improve the Social Security Corporation’s financial sustainability and
achieve the targeted risk adjusted returns on various investments, she said.
While adhering to the investment policy, SSIF is taking into consideration the
international best practices of
UN Sustainable Development Goals and the
Environmental, Social and Governance criteria, said Saqqaf, adding that SSIF
continues to use the best international practices in disclosure and reporting.
The fund’s assets
increased at the end of last year to reach JD12.3 billion, compared to JD1.6
billion at the end of 2003, while the interest rate on assets for the same
period amounted to 5.4 percent annually.
Saqqaf said the
fund will work on the first agricultural project in Al-Madura area, with an
expected investment of JD13 million, and on three solar power plants that are
expected to save about JD5 million per year to the energy bill.
The fund is considering
investing in the
National Water Carrier project and establishing public
schools, and is seeking to build a specialized investment institution, said
Saqqaf, who stressed that the fund works professionally and faithfully to
preserve the participants’ funds.
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