SSIF Assets Grow To JD15.7B, Net Income Rises 14.2% To JD697.6M In Q3 2024

(MENAFN- Jordan Times) AMMAN - The Social Security Investment Fund (SSIF) reported on Monday a net income of JD697.6 million at the end of the third quarter of 2024, marking an increase from JD610.9 million during the same period in 2023, SSIF CEO Ezzeddin Kanakrieh said on Monday.

Kanakrieh noted that these profits, along with JD213 million in transferred surpluses from the Social Security Corporation (SSC) and the periodic revaluation of the strategic equity portfolio, boosted the fund's assets by some JD900 million, the Jordan News Agency, Petra, reported.

As of September 30, SSIF's assets totalled JD15.7 billion, up from JD14.8 billion at the start of the year, representing a growth rate of 6.1 per cent, Kanakrieh said.

SSIF attributed its 14.2 per cent rise in net income over the same period in 2023 to "robust returns" from various investment portfolios, the SSIF said.

The bond portfolio contributed JD402 million, the equity portfolio JD157 million, and the money market instruments portfolio JD111 million, complemented by profits from loan portfolios and real estate investments.

The fund's equity portfolio stood at some JD2.3 billion by the end of the third quarter, with investments in the Amman Stock Exchange valued at around JD2.1 billion, representing about 12.5 per cent of the total market value of the exchange as of September 30.

These investments are spread across key sectors, including banking, industrial, services, and insurance, the fund said.

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