Social Security Investment Fund’s Assets Exceeded JD 10 Billion
October 10, 2018
The Social Security Investment Fund’s (SSIF) total assets exceeded JD 10 billion by the end of the third quarter of 2018, marking a 9 % growth rate when compared to the beginning of the year, SSIF Acting Executive Chief Mohammad Odeh announced .
Revenues from SSIF’s investment instruments increased in the first nine months of 2018 to JD 348 million, compared with JD 286 million generated during the same period of 2017, registering a 21.5 % growth, Odeh said.
The Fund’s chief attributed this rise to the increase in share profits that totaled JD93 million and to the growth of investment revenues in fixed market instruments — which include treasury bonds and deposits — to JD 257 million, Treasury bonds alone contributed JD 185 million.
He added that despite the negative growth of the Amman Stock Exchange (ASE) market value, which marked -2.51 per cent by the end of September, the evaluation results of the Fund’s strategic shares achieved a JD 44 million increase, compared with a JD 21.55 million deficit in the January — September period of 2017. Odeh pointed out that the Fund’s investment portfolio constitutes some 11.5 per cent of the ASE market value.
The increase in the SSIF’s profits and the positive performance of its investment portfolio in the ASE led to a rise in the comprehensive income by the end of September to JD 392 million, compared with JD 264 million by the end of the third quarter of 2017, he added.
Odeh said that the Fund is considering participating in implementing several projects, such as funding the Ma’an military hospital through the Daman Financial Leasing Company, wholly owned by the Social Security Corporation. The company is also currently financing the Madona Customs Depot for JD 96 million, and the Tafileh Hospital for JD 37 million.