SSIF assets total JD13.3 billion by end of June

Social Security Investment Fund. (File photo: Jordan News)
AMMAN — The Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), had assets totaling JD13.3 billion at the end of the first half of 2022, up from JD12.3 billion in the same period in 2021, indicating an 8.4 percent return rate, said SSIF CEO Kholoud Saqqaf in a statement on Monday, according to the Jordan News Agency, Petra.اضافة اعلان

Breaking down the fund’s investment portfolios, Saqqaf stated that bonds account for 55.4 percent of total assets, followed by stocks at 19 percent, financial market instruments at 13.1 percent, real estate investments at 5.7 percent, loans at 3.1 percent, and tourism ventures at 2.4 percent.

The SSIF top executive indicated that the fund’s revenue in the January–June period of 2022 jumped to JD371 million, signaling a growth of 18.6 percent from the JD313 million recorded in the same period of 2021. She pointed out that revenue growth was primarily driven by higher returns on bonds, financial market instruments, and dividends received from companies in which the SSIF has equity.

Furthermore, Saqqaf said a bullish Amman Stock Exchange reflected positively on the fund’s stock portfolio, which recorded book profits amounting to about 25.1 percent in the January–June period of 2022, while the fund’s share of the cash dividends from companies’ profits was JD109.6 million. She said that the fund also bought additional stocks in major banking institutions since the beginning of the current year.

According to Saqqaf, the bonds constituted 55.4 percent of the fund’s overall portfolio for the current year, achieving a return rate of 5.9 percent.
... The first SSIF agricultural project ... will contribute to meeting part of the local consumption needs of strategic agricultural crops, especially wheat ...
She indicated that the strategic distribution of assets contributed to achieving the targeted returns on investments within acceptable risk levels, in a manner that ensures the preservation and development of the real value of assets, and to reducing fluctuations in income from different investment portfolios.

Saqqaf added that the fund continued to increase investment in real estate by purchasing new lands, which brought the size of the real estate portfolio to JD754 million at the end of the first half of 2022.

She also highlighted the importance of the first SSIF agricultural project, which will contribute to meeting part of the local consumption needs of strategic agricultural crops, especially wheat, noting that the project is located on an area of 30,000 acres in the Al-Mudawwarah area for the production of wheat, barley and fodder. It is managed and implemented through Jordanian expertise by the Daman Investment and Agricultural Industries Company, which is owned by SSC.

Saqqaf indicated that so far, about 8,000 dunums have been planted with wheat, barley and animal feed crops; the first wheat crop from the project was recently harvested.

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