Social Security Investment Fund assets rise to JD14.2 billion in Q1 2023

(File photo: Jordan News)
AMMAN — The Social Security Investment Fund, the investment arm of the Social Security Corporation (SSC), reported assets totaling JD14.2 billion at the end of the first quarter of 2023. This marks a rise from JD13.8 billion in the same period in 2022, the Jordan News Agency, Petra, reported. اضافة اعلان

The fund's Chief Executive Officer, Ezzeddine Kanakrieh, said in a statement on Tuesday that the growth was due to JD225 million revenue made from the fund's various investments and the JD124 million evaluation of the strategic equity portfolio.

This was in addition to SSC's surpluses, which amounted to JD65 million.

Increase in revenue in Q1 2023Kanakrieh revealed that the fund's revenue in Q1 2023 increased by 28 percent compared to the same period in 2022. The increase was due to the investment portfolios' strong performance, with most of the revenue generated from fixed-income instruments.

Of the JD166 million from fixed income instruments, JD133 million were returns from bonds, and JD59 million were from stocks.

Highest dividend since establishmentMost of the strategic companies to which SSIF contributes announced high cash dividends last year compared to previous years, said Kanakrieh.

The fund's share of those dividends was at JD152 million, the highest the fund has ever made since its establishment.

The comprehensive revenue (the fund's revenue from various investments and the evaluation of the strategic equity portfolio) rose to JD349 million at the end of Q1 2023 compared to JD330 million during the same period last year, with a growth rate of 5.8 percent, he added.

Distribution of the fund's portfolioThe fund's portfolios were distributed in investment instruments with good and stable returns within acceptable levels of risk, as laid out in the investment policy.

The bond portfolio constituted 54.8% of the fund's total portfolio, followed by the equity portfolio with 18.4 percent, the financial market instruments portfolio with 13.7 percent, the real estate investments portfolio with 5.8 percent, the loan portfolio with 3.2 percent, and the tourism investment portfolio with 2.3 percent.

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