‘Social Security Investment Fund made no recent sales of its shares’

AMMAN — The Social Security Investment Fund (SSIF) stressed that it did not sell any of its shares during the last period, noting that the fluctuations and drop in its share prices at the Amman Stock Exchange (ASE) constitute book losses that are not registered in the SSIF's records, in accordance with international financial disclosure standards, as these are long-term investments.

SSIF added in a statement released on Sunday and cited by the Jordan News Agency, Petra, that its contributions in ASE-listed companies are strategic long-term investments and are not subject to speculations. 

The fund’s contributions are distributed over 50 public shareholding companies in “vital sectors, which are characterised by resilience and good annual growth rates”, according to the SSIF. 

The fund conducts periodical studies to evaluate its investments, including the ones at the ASE, which assess the current performance of the companies in which the fund is investing, as well as future expectations in line with the SSIF's strategic objectives, the statement said.

Periodical reviews are also carried out for the strategic distribution of the fund’s assets, corresponding to the national economy’s state and the future commitments of the fund, to ensure “rewarding returns within accepted risks levels”, it added.

The statement added that the SSIF submits quarterly reports to the Cabinet and Parliament outlining the fund’s fiscal performance and its most important investments under the enforced social security law, noting that these reports are also available for the public at the fund’s website www.ssif.gov.jo.