SSIF assets total JD13.8 billion by end of 2022

The Social Security Investment Fund (SSIF) CEO Dr. Ezzeddin Kanakrieh announced that SSIF assets totaled JD 13.8 billion at the end of 2022, up from JD 12.3 billion as at the end of 2021, a growth of JD 1.5 billion representing 12%.

This growth is attributed to SSIF income that amounted to JD 685 million, the evaluation of strategic equity portfolio that amounted to JD 414 million in addition to the Social Security Corporation (SSC) surpluses that amounted to JD 335 million.
Due to the strong performance throughout 2022, SSIF income grew by 15.4% compared to the realized income of 2021. This growth came from the income realized by bonds portfolio of JD 431.4 million, equity portfolio of JD 122.3 million in addition to the income generated by real estate, bank deposits and loans portfolios.
The comprehensive income also edged up throughout 2022 to register JD 1.1 billion signaling a rate of return growth of 8.4%.  
SSIF CEO said 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.
Breaking down the Fund’s investment portfolios; bonds portfolio accounted for 55.6% of total assets, followed by equity at 19%, financial market instruments at 13.3%, real estate investments at 5.8%, loans at 3.1%, and tourism portfolio at 2.4%.
The bonds portfolio amounted to JD 7.6 billion, achieving a return rate of 5.9 %.  According to SSIF CEO, it is a common practice for pension funds to invest in treasury bonds as they are a safe investment tool with a fixed income stream.

SSIF investments in public and private equity portfolio grew throughout 2022 to reach JD 2.5 billion, of which JD 2.2 billion are invested in companies listed in Amman Stock Exchange (ASE) that constitutes 12 % of ASE total market value. SSIF also increased its investment in real estate by purchasing new lands, which brought the size of the real estate portfolio to JD 792.3 million at the end of 2022.
 
Kanakrieh said that some projects are already underway such as developing lands owned by the Social Security Corporation to establish mixed use facilities, the rehabilitation of Crowne Plaza Hotel- Petra, establishing new leisure facilities in Aqaba and also establishing the fourth solar energy station to cover the electricity needs of the hotels owned by (SSC) 

Moreover, SSIF is studying a number of potential investment opportunities in various sectors; financial services, mining, telecommunications, tourism, agriculture, and real estate development in addition to financial leasing and   PPP projects. SSIF is also keen to look into the projects outlined in the Economic Modernization Vision.
SSIF CEO concluded that the Fund is being managed in accordance with good governance practices following strict and transparent procedures, as well as acceptable risk levels. It is also important to invest in viable projects and diversifying investment tools through partnerships with the private sectors. The SSIF is also dedicated to adapt the best international practices of disclosure and reporting as it publishes its financial figures and investments projects briefs on its website: www.ssif.gov.jo.