SSIF assets reach JD 14.2 billion at the end of the first quarter of 2023 and Recorded the Highest Historical Dividends of JD 152 million

Social Security Investment Fund assets continue growing to reach JD 14.2 billion at the end of the first quarter of 2023 compared to JD 13.8 billion of the end of 2022.

SSIF CEO Dr. Ezzeddin Kanakrieh said that this growth is attributed to SSIF’s income generated from different investments that amounted to JD 225 million, the evaluation increase of strategic equity portfolio that amounted to JD 124 million, in addition to SSC’s contribution surpluses that amounted to JD 65 million.

As a result of the good performance during Q.1 of 2023, SSIF’s income also grew by 28% compared to the realized income of Q.1 of 2022. This growth came mainly from the income realized from fixed income instruments portfolios of JD 165.6 million, of which is JD 133 million from bonds portfolio, in addition to JD 59.4 million from the equity portfolio.

The companies’ dividends of 2022 have highly increased, the Fund’s dividends, therefore, hit a historical record of JD 152 million, the highest since the Fund’s inception in 2003.

The comprehensive income that represents SSIF’s income in addition to the evaluation of strategic equity portfolio also edged up in Q.1 of 2023 to reach JD 349 million compared to JD 330 million for the same period of 2022, signaling a growth of 5.8%.

SSIF CEO confirmed that the main components of the investment portfolios are distributed over investment tools with risk adjusted returns within the specified percentages of SSIF investment policy. The bonds portfolio accounted to 54.8% of SSIF total portfolio, followed by equity 18.4%, money market instruments 13.7%, real estate investments 5.8%, loans 3.2%. and tourism portfolio 2.3%.

To enhance the competitiveness of the tourism portfolio under the management of the National Company for Tourism Development (wholly-owned), a number of projects are underway. The Company has recently signed a management contract with a Jordanian investor to manage Amman Cham Palace, following up on the renovation of Crowne Plaza Hotel/ Petra, calling tenders to renovate Zay Resthouse, in addition to preparing the designs of a new four-star hotel to be established in Aqaba.

Daman for Development Areas Company continues developing the infrastructure and services provided to the investors of King Hussein Bin Talal Development Area/ Mafraq and Irbid Development Area to further attract industrial and entrepreneurial investments to these areas. The current investments of both areas stand at JD 450 million and has created 3600 jobs.

SSIF CEO said that Daman Investment and Agricultural Industries Company that manages the multi-phased project in the southern region of the Kingdom on an area of 30 sq. km, is currently covering part of the local demand of strategic corps such as wheat, potatoes, and animal feed.

SSIF CEO concluded that the Fund will continue promoting its investments in viable sectors especially the financial, mining, energy, real estate development, tourism, and agriculture sectors, and maintaining its investment directions to achieve sustainable returns. The Fund is also keen to seize the opportunity to invest in feasible projects including the Economic Modernization Vision and (PPP) projects.
It is worth mentioning that SSIF publishes its financial figures and investments projects briefs on its website (www.ssif.gov.jo) and SSIF’s official social media accounts.