SSIF sees JD1.1b growth in assets so far

‎AMMAN  — The Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf on Sunday announced a JD1.1 billion growth in 2021.

“The SSIF retained a good performance in 2021 with a growth in total assets of JD12.3 billion compared with JD11.2 billion by the end of 2020,” Saqqaf told reporters during a press conference at the SSIF headquarters.

Saqqaf also stated that the SSIF’s income grew in 2021 to reach JD575 million compared with JD509 million for the year 2020, which represented a growth of 13 per cent.

The SSIF director attributed the “success to the growth in returns from bonds, money market instruments and equity portfolios”.

Commenting on the financial resources that are boosting the SSIF’s assets, Saqqaf listed the following: 57 per cent in government bonds and bills, 16.6 per cent in equities, 12.9 per cent in money markets instruments, 6.1 per cent in real estate, 3.4 per cent in tourism, and 2.4 per cent in loans.

Saqqaf added that the performance of the Amman Stock Exchange (ASE) in 2021 has positively impacted the SSIF’s equity portfolio.

The market value of this portfolio had increased by JD411 million at the end of 2021, in comparison with a JD371 million decline at the end of 2020, according to Saqqaf. 

She added that the SSIF increased its ownership in some strategic publicly traded companies in banking, mining as well as the pharmaceuticals and agriculture sectors.

Therefore, these developments led the public equity portfolio to edge JD2 billion, which represented 12 per cent of the ASE’s total market value.

Saqqaf also touched on the future goals that are included in the updated SSIF strategy (2022-2024).

“We will continue to invest in the public-private partnership infrastructure mega projects such as the National Desalination Project and the project of building 15 public schools as well as expanding our investments in the mining sector,” she added.

The SSIF director concluded by assuring Jordanians that the establishment is keen on protecting “their money and investment in the Social Security Corporation (SSC)”.

“We are keen on ensuring the SSC financial sustainability by achieving the targeted risk adjusted returns related to various investments,” Saqqaf stressed.