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Ammon News -

Assets of the Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped to JD12.7 billion to the end of 2022 Q1, according to Kholoud Saqqaf, the fund’s CEO.

These assets were distributed over money market instruments that constituted 12.5 per cent of the total portfolio, bonds 56.7 per cent, loans 3.2 per cent, equity 17.5 per cent, real estate investments 6 per cent and tourism investments 2.5 per cent, according to a SSIF statement.

In a press statement on Sunday to announce SSIF's key financial results for Q1 2022, she said the fund’s income rose to about JD175.3 million, compared to the same period in 2021, which stood at about JD137.3 million, with a growth rate of 27.6%.

The rise in revenues came as a result of the growth in investment profits, mainly derived from returns from bonds, money market instruments, she pointed out.

The Jordanian economy's recovery, improvement in the companies' profits and the increase in 2021 cash dividends of public shareholding companies, led to an improvement in the performance of the Amman Stock Exchange (ASE), she noted.

This good performance reflected "significantly" on the performance of the SSIF's stock portfolio, as its return rate for the first quarter 2022 stood at 9.7 percent, she said.

The book profits of the strategic shares portfolio amounted to about JD154 million at the end of the 2022 Q1, compared to about JD74 million for the same period last year, she pointed out, adding that SSIF's share of corporate profits is expected to reach JD103 million.