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SSIF assets surged to reach JD12.7b with growth of 27.6%

SSIF
Social Security Investment Fund (SSIF)
AMMAN — Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf announced that SSIF’s assets grew to reach JD 12.7 billion at the end of Q.1-2022 compared to JD 12.2 billion at the end of 2021,according to a press statement on Sunday.اضافة اعلان


Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf

These assets are distributed over money market instruments that constitute 12.5% of SSIF’s total portfolio, bonds 56.4%, loans 3.2%, equity 17.5%, real estate 6%, and tourism investments 2.5%.

Saqqaf said that SSIF’s income also grew to reach JD 175.3 million at the end of Q.1 -2022 compared to JD 137.3 million for the same period of 2021, representing a growth of 27.6%.

SSIF CEO said that the economic recovery and the improving performance of the public listed companies, and the growth of their cash dividends for 2021 improved Amman Stock Exchange’s performance (ASE).

According to Saqqaf, all these factors positively impacted SSIF’s equity portfolio, which registered a 9.7% rate of return at the end of March 2022. The book profits of SSIF strategic equity portfolio also grew to reach around JD 154 million compared to JD 74 million at the end of Q.1-2021. As a result, SSIF cash dividends proportion from these companies’ profits are expected to reach around JD 103 million.

Bonds portfolio, which constitutes 56.4% of SSIF’s total portfolio, registered a 5.8% rate of return and is among the highest returns on SSIF investment instruments, given the relatively low associated risk level.

The real estate portfolio also kept growing to reach JD 754 million at the end of Q.1-2022. The Fund also signed new long-term leasing contracts of owned lands and buildings.

Saqqaf pointed out that based on the international financial reporting standards, SSIF annually evaluates its real estate portfolio. Based on the evaluation results at the end of 2022, SSIF real estate portfolio market value registered JD 748 million against its cost of JD 614 million.   

To strengthen the competitive advantage of its tourism portfolio, the Fund is establishing new touristic and leisure sites in the golden triangle and resuming the rehabilitation of Crowne Plaza Hotel- Petra and InterContinental Hotel Aqaba.

SSIF continues working on its first agricultural project through a wholly-owned company to produce grain, vegetables, animal feeds, and other agricultural products to contribute to the national food security and the shift to the green economy.

SSIF CEO said that as a long-term strategic investor, the Fund is keen to invest in infrastructure megaprojects and PPP projects, mainly water desalination projects, through owning a stake in the project company that will be established once the winning consortium is announced. 

Saqqaf concluded that the Fund is committed to work within a comprehensive governance framework to preserve SSC pensioners' savings and contribute to the sustainability of the social security scheme through current and protentional feasible investments in partnership with the private sector in many sectors such as mining, healthcare, education, tourism, agriculture, real estate, and pharmaceuticals.

The Fund is also dedicated to adapting the best international disclosure and reporting practices as it publishes its financial figures and investments and projects briefs on its website: www.ssif.gov.jo.


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