SSIF assets reach JD13.57b in Q3 2022 — Saqqaf

By JT - Oct 17,2022 - Last updated at Oct 17,2022

AMMAN — The Social Security Investment Fund (SSIF)'s assets reached JD13.57 billion by the third quarter of 2022, compared with JD12.34 billion in the same period of 2021, marking an increase of JD1.2 billion and constituting an 8.1 per cent return rate, the Jordan News Agency, Petra, reported.

SSIF CEO Kholoud Saqqaf said that bonds accounted for 55.7 per cent of total assets, followed by stocks, constituting 18.4 per cent, financial market instruments at 13.3 per cent, real estate investments at 5.6 per cent, loans at 3.4 per cent and tourism ventures at 2.3 per cent.

SSIF’s January-September revenues in 2022 stood at JD505 million, with a growth of 15 per cent compared with the corresponding period of 2021, where revenues amounted to JD440 million.

The value of the fund’s stock portfolio reached JD2.48 billion, constituting 18.4 per cent of the total assets, she added.

Saqqaf said that the Fund’s stock portfolio achieved a return rate of 26.2 per cent, while the portfolio value grew to reach JD2.48 billion, of which is JD2.2 billion traded in Amman Stock Exchange (ASE), constituting 12.3 per cent of ASE capitalization, according to a SSIF statement.

The bond portfolio constituted 55.7 per cent of the fund's overall investment portfolio for 2022, recording a return rate of 5.9 per cent.

The value of SSIF’s real estate portfolio rose to JD754 million as of the end of September, she added.

The Fund continued to increase investment in real estate by purchasing new lands, which brought the size of the real estate portfolio to JD754 million at the end of the third quarter of 2022.

Aiming to maximise 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), according to the statement.

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