12.7 billion dinars assets of the guarantee fund | Money and business | zad jordan news

zad jordan news –

The head of the Social Security Investment Fund, Kholoud Al-Saqqaf, announced that the fund’s assets rose to 12.7 billion dinars at the end of the first quarter of this year, compared to 12.3 billion dinars at the end of 2021

The fund’s investments are divided among a number of investment portfolios, namely money market instruments at 12.5%, bonds 56.4%, loans 3.2%, equities 17.5%, real estate investments 6% and tourism investments 2.5%.

Al-Saqqaf said in a press release today to announce the fund’s most prominent financial results for the first quarter of this year, that the fund’s revenue had risen to about 175.3 million dinars, compared to the same period in 2021, which amounted to about 137.3 million. dinars, with a growth rate of 27.6%. She pointed out that the increase in income came as a result of the growth in investment returns mainly coming from bonds, equities and money market instruments.

The head of the fund indicated that the start of the recovery of the Jordanian economy, the improvement in the performance of companies, and the increase in cash dividends for public shareholder companies for the results of the business in 2021 led to an improvement in the performance of the Amman Stock Exchange. %. The book profits of the strategic equity portfolio amounted to about 154 million dinars at the end of the first quarter of 2022, compared to about 74 million dinars for the same period last year. It added that the fund’s share in corporate profits is expected to reach 103 million dinars.

In terms of the bond portfolio, it accounted for 56.7% of the fund’s total portfolio in the first quarter of this year, with a return on that portfolio of 5.8%, which is one of the highest rates of return achieved by the investment. is. instruments invested by the investment fund compared to the low level of risks involved.

The Fund also continued to increase its real estate investments through the purchase of land, which brought the size of the real estate portfolio to 754 million dinars by the end of the first quarter of 2022. The Fund has also signed a number of new land lease contracts. and properties owned by the Social Security Corporation.

Al-Saqqaf has indicated that in line with international financial reporting standards, the fund evaluates its property portfolio on an annual basis. Based on the results of the valuation of the real estate portfolio at the end of 2021, the market value of the portfolio amounted to approximately 748 million dinars, compared to the cost of its acquisition of approximately 614 million dinars.

Recognizing the importance of the tourism sector and its related sectors, which contribute a significant percentage of GDP, in addition to the sector’s importance of attracting foreign investment to the Kingdom and creating jobs, the Fund seeks to gain the competitive advantage of improve its tourism portfolio and expand its investments in the sector by establishing new projects in the Golden Triangle area, and continuing the rehabilitation of a number of tourist facilities, in particular the continuation of the rehabilitation of the Crowne Plaza Hotel / Petra , and the rehabilitation of some hotel rooms and suites in the Intercontinental Hotel / Aqaba.

In order to contribute to the achievement of food security and self-sufficiency in strategic agricultural crops and the transition to a green economy, the Fund’s first agricultural project of a wholly owned company to produce wheat, vegetables, fodder and other agricultural crops is being continued.

As a long-term strategic investor, the Fund pays close attention to major infrastructure projects and projects presented by the Public-Private Partnership Unit, in particular the National Carrier Project, in which the Fund seeks to participate in the form of a contribution to the project company of the winning coalition.

Al-Saqqaf said that thanks to the strength of the fund’s financial position, its investment strategy and the prudence and professionalism of the management of those investments, the fund was able to continue to perform its work and develop its investments responsibly while achieving sustainable growth in profits. word. , in addition to the development dimension of those investments. The fund was also able to strengthen its role as a national investor in many achievable sectors with promising growth opportunities. Note that the strategic directions of the fund are aimed at increasing investment in the mining, health, education, tourism, agriculture, real estate development and pharmaceutical sectors.

Al-Saqqaf concluded that the Fund works with all professionalism and dedication and within a comprehensive corporate governance system to preserve and develop the funds of social security subscribers and retirees, and to achieve the financial sustainability of the social security system by various investments that provide a profitable investment return for the Fund and in partnership with the private sector, in addition to the role of these investments in achieving sustainable development in the Kingdom economically and socially. Emphasize the Fund’s full commitment to international standards and best practices in transparency and disclosure by publishing the Fund’s quarterly financial performance reports and the most prominent investments and projects on the Fund’s official website www.ssif.gov.jo.

Leave a Comment