SSIF assets reach JD13.6 billion at the end of Q3

Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf said that the Fund’s assets rose to JD13.57 billion by September 30, 2022; at the end of 2021 it had reached JD12.34 billion, which brings the increase to JD1.2 billion, so far with a rate of return on assets at 8.1 percent


Saqqaf said, in a press statement to announce the results of the Fund for the third quarter of this year, that the assets were distributed among a number of investment portfolios, as follows: 13.3 percent money market instruments; 3.4 percent loans; 18.4 percent stocks; 55.7 percent bonds; 5.6 percent real estate investment; and 2.3 percent tourism investment.


She added that since the beginning of the year until the end of September the Fund had a JD505 million income, compared to JD440 million in the same period of last year, a 15 percent increase, due mainly to the higher revenue generated from money market instruments, bonds and profits of the equity portfolio.


Saqqaf said that the value of the Fund’s equity portfolio amounted to JD2.48 billion, or 18.4 percent of the Fund’s assets, including the shares of public shareholding companies listed on the Amman Stock Exchange (ASE), which grew to about JD2.2 billion, constituting 12.3 percent of the total stock exchange market value of ASE. The portfolio achieved a return rate of 26.2 percent since the beginning of the year until the end of September.


The bond portfolio, which amounted to 55.7 percent of the Fund’s total portfolio at the end of the third quarter of this year, achieved a return rate of 5.9 percent, which is one of the highest rates of return achieved by the Fund’s investment portfolios, compared to the low level of risks associated with it.


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- 3 2022. Aiming to maximize the value of the Fund's real estate portfolio, promoting the infrastructure landscape and providing various services to the citizens, SSIF is currently developing lands owned by the Social Security Corporation (SSC).

SSIF will also start establishing the fourth solar energy station with one-megawatt capacity to cover the electricity needs of SSC buildings and its hotels. 
Saqqaf said that SSIF is studying a number of potential investment opportunities in partnership with Amman Vision Investment & Development (AVID) in addition to other opportunities in various sectors; financial services, pharmaceuticals, mining and real estate development in addition to financial leasing and   PPP projects.
SSIF also continued conducting workshops for the representatives on companies’ boards of directors on promoting governance and sustainable development concepts and practices.

Saqqaf concluded that SSIF is committed to the hard work to contribute to the sustainability of the social security scheme and to adapt to 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.