BusinessMain News

SSIF reports 7.6% growth in assets, boosted by bond and stock portfolios

By : JD News Desk

Jordan Daily -The Social Security Investment Fund (SSIF) said on Sunday its assets grew 7.6% to JD 14.9 billion in 2023, boosted by strong performance of its investment portfolios.

The fund, which invests the surplus of the state-run Social Security Corporation (SSC), said its net income rose 17.3% to JD 802 million , compared to  JD 684 million in 2022.

The income came mainly from its bond portfolio, which accounted for 57.2% of its total portfolio and generated JD 483.7 million , followed by its stock portfolio, which represented 15.9% of its portfolio and earned JD147.5 million .

The fund also said it increased its real estate and tourism investments, as well as its agricultural and industrial projects, creating more than 2,000 permanent and seasonal jobs in various regions of the kingdom.

The SSIF is one of the largest institutional investors in Jordan, holding about 12.4% of the market value of the Amman Stock Exchange. It also owns several hotels, including the Crowne Plaza Petra, which is undergoing expansion and renovation.

The fund said it is working on a tender to build a solar power plant in the Shoubak area, as part of its efforts to diversify its energy sources and reduce its operational costs.

Back to top button