SSIF assets reach JD11b “” Saqqaf

SSIF assets reach JD11b “” Saqqaf

AMMAN “” Social Security Investment Fund (SSIF) CEO Kholoud Saqqaf said that the fund had achieved good returns at the end of June 2020 despite unprecedented challenges posed by the  COVID-19 pandemic. 

Saqqaf announced that the SSIF's total assets almost reached JD11 billion at the end of June 2020, according to a statement from the investment fund.

The SSIF's income also reached JD251.2 million, compared with JD321.6 million at the end  of June 2019. 

This was mainly due to the delay in dividend distribution of some companies' and other companies resolution to reduce the percentage of profits, read the statement. 

The SSIF CEO pointed out that most of the income generated in the second quarter of 2020 came from interests on money market instruments, bonds, loans portfolios of JD230.6 million, marking a JD25.2 million increase when compared with the second quarter of 2019.

According to Saqqaf, the SSIF's management strategy in various investments has helped mitigate the pandemic's financial impact on the fund's portfolio.

It enabled the fund to provide the necessary liquidity to the Social Security Corporation (SSC) to finance the programmes announced under the defence orders that aim at enhancing job stability and private sector sustainability, noted the statement.

Based on its strategic directions, the