SSIF assets are close to JD 11 billion, income reached JD 251 million at the end ‎of June 2020‎

Social Security Investment Fund ( SSIF ) CEO Kholoud Saqqaf said that the Fund achieved good returns at the end of June 2020 despite the unprecedented challenges that COVID-19 has caused .

Saqqaf announced that the SSIF total assets almost reached JD 11 billion at the end of June 2020 compared to JD 10.7 billion at the end of June 2019. While SSIF’s income reached JD 251.2 million, compared to JD 321.6 million at the end of June 2019. This slight decline in income was mainly due to delaying dividends distribution of some companies’, and to other companies resolution to lower dividend rate that were to be distributed.

SSIF CEO pointed out that most of the income generated in the second quarter of 2020 came from interest income on money market instruments, bonds, loans portfolios  of  JD 230.6 million, marking a JD 25.2 million increase when compared to the second quarter of 2019.

According to Saqqaf, SSIF strategy in managing its various investments has helped to mitigate the pandemic financial impact on the Fund's portfolio, and enabled it to provide the necessary liquidity to the Social Security Corporation (SSC) to finance the programs announced under the defense orders that aim at enhancing job stability and private sector sustainability.


Based on its asset allocation strategy, SSIF expanded its real estate portfolio  during the first half of the year by JD 48 million, which has increased the portfolio value to JD 707.6 million at the end of June 2020.  To maximize the portfolio value,  SSIF is  currently considering  to develop the raw land owned by the SSC.

Despite the performance of  Amman Stock Exchange, Saqqaf said that SSIF made stock purchases in a number of public equity companies that are characterized by solid financial positions and stability in dividends streams, especially in the banking and manufacturing industries.

Reflecting the role of the Fund as a long-term investor, these purchases are based on the assessment of the companies’ performance, future projections, and the changes in stock price within the required rate of return and the mandated risk levels set in the Fund's investment policy. Moreover, SSIF seizes the current opportunities to acquire those shares at prices below their fair value.
Saqqaf announced that SSIF is at the final stages to establish an agricultural project in the south of the kingdom that will be managed by a specialized company in this field. New tourism and entertainment facilities are approved to be established in Aqaba by the National Tourism Company , which is wholly owned by SSC.   

 “ It is our duty to properly manage and invest the money of the Social Security Corporation in accordance with international pension funds best practices to preserve and sustain SSC assets”, Saqqaf added. She also highlighted the vital role of the Fund's investments in the national economy growth, job creation and sustainable development. The Fund has enabled the Social Security Corporation to expand the benefits provided to the pensioners and subscribers such as establishing the unemployment fund and granting JD 85 million as personal loans for SSC pensioners, where beneficiaries exceeded 40 thousand by the end of June 2020.