Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf announced that SSIF’s assets grew to reach JD12.7 billion at the end of the first quarter of 2022 compared to JD12.2 billion at the end of 2021.
These assets are distributed over money market instruments that constitute 12.5% of SSIF’s total portfolio, bonds 56.4%, loans 3.2%, equity 17.5%, real estate 6% and tourism investments 2.5%.
Saqqaf said that SSIF’s income also grew to reach JD 175.3 million at end of the first quarter of 2022 compared to JD 137.3 million for the same period of 2021, representing a growth of 27.6%.
SSIF CEO said that the economy recovery and the improving performance of the public listed companies and the growth of their cash dividends for 2021 led to improving the performance of Amman Stock Exchange (ASE).
All these factors, according to Saqqaf, had positive impact of SSIF’s equity portfolio that registered 9.7% rate of return as at the end of March 2022. The book profits of SSIF strategic equity portfolio also grew to reach around JD154 million compared to JD74 million at end of the first quarter of 2021. SSIF cash dividends proportion from these companies’ profits is expected to reach around JD103 million.
Bonds portfolio that constitute 56.4% from SSIF’s total portfolio registered 5.8% rate of return that is among the highest returns on SSIF investment instruments given the relatively low associated risk level.
The real estate portfolio also kept growing to reach JD 754 million at end of the first quarter of 2022 , the Fund also signed new long term leasing contracts of owned lands and buildings.
Saqqaf pointed out that based on the international financial reporting standards, SSIF annually evaluates its real estate portfolio. Based on the evaluation results at the end of 2022, SSIF real estate portfolio market value registered JD748 million against its cost of JD614 million.
To strengthen the competitive advantage of its tourism portfolio, the Fund is establishing new touristic and leisure sites in golden triangle, in addition to resuming the rehabilitation of Crowne Plaza Hotel-Petra and InterContinental Hotel-Aqaba.
To contribute to the national food security and the shift to green economy, SSIF continues working on its first agricultural project through a wholly owned company to produce grain, vegetables, animal feeds and other agricultural products.
SSIF CEO said that as a strategic long-term investor, the Fund is keen to invest in infrastructure mega projects and PPP projects; mainly water desalination project through owning a stake in the project company that will be established once the winning consortium is announced.
Saqqaf concluded that the Fund is committed to work within comprehensive governance framework to preserve SSC pensioners savings and contribute to the sustainability of the social security scheme through current and potential feasible investments in partnership with the private sector in many sectors such as mining, healthcare, education, tourism, agriculture, real estate and pharmaceuticals.
The Fund is also dedicated to adapt 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.
Source: Ammon News