Amman, The Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), had assets totaling JD13.3 billion at the end of the first half of 2022, up from JD12.3 billion in the same period in 2021, indicating an 8.4 percent return rate, said its CEO Kholoud Saqqaf in a statement on Monday.
Breaking down the fund’s investment portfolios, Saqqaf stated that bonds account for 55.4 percent of the total assets, followed by stocks at 19 percent, financial market instruments at 13.1 percent, real estate investments at 5.7 percent, loans at 3.1 percent, and tourism ventures at 2.4 percent.
The SSIF’s top executive indicated that the fund’s revenue in the January-June period of 2022 jumped to JD371 million, signaling a growth of 18.6pct from the JD313 million recorded in the same period of 2021. She pointed out that revenue growth was primarily driven by higher returns on bonds, financial market instruments, and dividends received from companies in which the SSIF has equity.
Furthermore, Saqqaf said a bullish Amman Stock Exchange (ASE) reflected positively on the fund’s stock portfolio, which recorded book profits amounting to about 25.1 percent in the January-June period of 2022, while the fund’s share of the cash dividends for companies’ profits was at JD109.6 million. She revealed that the fund also bought additional stocks in major banking institutions since the beginning of the current year.
As for the bonds portfolio, the SSIF CEO indicated that it constituted 55.4 percent of the fund’s overall portfolio for the current year, achieving a return rate of 5.9 percent
Source: Jordan News Agency