SSIF assets total JD13.3 billion by end of June - 2022

The Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf announced that SSIF’s assets that SSIF assets totaled JD 13.3 billion at the end of the first half of 2022, up from JD 12.3 billion as at the end of 2021, indicating an 8.4 percent return rate on the assets.


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.

SSIF income at the end of Q. 2 of 2022 jumped to JD 371 million, signaling a growth of 18.6 percent from the JD 313 million recorded in the same period of 2021. Saqqaf pointed out that income growth was attributed to the high returns on bonds, financial market instruments, and dividends received from companies in which the SSIF has equity.


Furthermore, Saqqaf said that the bullish performance Amman Stock Exchange reflected positively on the Fund’s stock portfolio, achieving a return rate of 25.1%, while the Fund’s share of the cash dividends from companies’ profits was JD 109.6 million. She said that the portfolio size also grew through stock purchases in a number of strategic banks.


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 %.



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 JD 754 million at the end of Q- 2 2022.


SSIF CEO highlighted the importance of the first 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 animal feed. The project 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.


According to the statement, expansion opportunities in food production and manufacturing will be considered depending on the feasibility studies results and the risk levels associated with these potential opportunities and their alignment with the investment policy.
SSIF CEO said that based on a defense order, the Social Security board of directors recently resolved to raise the personal loans window ceiling for SSC pensioners from JD100 million to JD120 million. The number of this window beneficiaries exceeded 90,000. 
Moreover, the rehabilitation of Crowne Plaza Hotel- Petra and touristic projects are currently resumed under the supervision of the National Tourism Development Corporation (wholly owned).
Saqqaf concluded that SSIF is committed to work within comprehensive governance framework to preserve SSC pensioners’ savings and contribute to the sustainability of the social security scheme through current and potential feasible investments in partnership with the private sector. 
The SSIF is also dedicated to adapt the best international practices of disclosure and reporting as it publishes its financial figures and investments and projects briefs on its website: www.ssif.gov.jo.