SSIF assets edged up reaching JD 11.06 billion and income reached JD 375 ‎million at the end Q.3‎

Social Security Investment Fund ( SSIF ) CEO Kholoud Saqqaf said that the Fund total assets by the end of the third-quarter of 2020 reached JD 11.06 billion, while the fund's income reached JD 375 million.
Saqqaf pointed out that most of the income generated by the end of September 2020 came from interests on money market instruments, bonds and loans portfolios of JD 340.4 million, marking a JD 35.4 million increase when compared with the third-quarter of 2019.
The delay in dividends distribution of banks and  a number of companies and other companies' reduction of dividends percentage have affected the achieved income of JD 375 million, compared with JD 442.6 million by the end of September 2019.
According to Saqqaf, the SSIF’s early measures to mitigate the consequence of COVID -19 pandemic have enabled the Social Security Corporation to launch social protection programs under the defense orders, adding that the strategic distribution of investments in various vital sectors contributed to strengthening the fund's resilience against the impact of the pandemic through maintaining the assets value. The money market instruments  portfolio constituted  11.2 % of the total portfolio, bonds 60 %, loans 3.3 %, equity 14.7 %, real estate investments 6.5 % and tourism investments 2.7 % .

In line with the Fund's 2019-2021 strategic plan, which identified the targeted sectors for establishing viable investments with direct impact on citizen's lives, the SSIF by the end of August established an agribusiness company to invest in its first agricultural project, at a total cost of JD13 million and on an area of 25,000 dunums.
As part of its plans to switch to clean energy and reducing electricity costs, the first station, part of three solar energy stations project, was inaugurated last August to provide electricity to the hotels owned by the SSC, its branches and the SSIF headquarter. The project will reduce the SSC’s annual utility bill by JD 7 million, she added, noting that the second station will be launched soon.
Saqqaf  referred  to the success of the first pension funds virtual conversations series “Investing in Resilience”   that was organized by SSIF  in cooperation with the United Nations Development Program in Jordan where experiences and lessons learned from dealing with different crises were exchanged. In this regard, she pointed out that the experience of the Fund in dealing with the economic consequences of the pandemic was reviewed in addition to highlighting the economic and social impact of SSIF  investments on the economy and the local community.
Saqqaf stressed that the Fund work is conducted by the best practices  governing pension funds to maintain and sustain the Social Security corporation’S assets , in addition to the significant contribution  of the Fund's investments to boosting economic growth, job creation, and sustainable development.