Amman, Oct. 20 (Petra) - The Social Security Investment Fund’s (SSIF) cumulative investment profits reached JD12.1 billion since its establishment in early 2003 through the end of September 2026, helping increase its assets to JD20.1 billion from JD1.6 billion, SSIF CEO Izzeddin Kanakrieh said on Tuesday.

The fund received approximately JD6.4 billion in transfers of cash surpluses from the Social Security Corporation (SSC), contributing to the growth of its assets.

At the Government Communication Forum, Kanakrieh met with media representatives alongside Ministry Secretary-General Zaid Nawaiseh. The meeting reviewed the fund’s Q3 2026 financial results, active projects, and strategic investment pipeline.

Kanakrieh said the fund was undergoing a "major shift" in its investment strategy, expanding its participation in major projects and developing strategic partnerships locally, regionally and internationally to diversify its portfolio and boost long-term returns.

He said the SSIF’s strong financial position and accumulated investment expertise provided a solid foundation for expansion and partnerships combining financing, specialized expertise and implementation capabilities.

The fund’s return on assets reached 8.3 percent at the end of the third quarter of 2026, while its assets grew by approximately JD1.5 billion from JD18.7 billion at the end of 2025, according to Kanakrieh.

He attributed the increase to comprehensive income of approximately JD1.37 billion and an insurance surplus of nearly JD110 million transferred from the SSC.

Comprehensive income comprised JD879 million in net income, up 8.6 percent from the same period in 2025, and JD492.4 million in net gains from the revaluation of the fund’s strategic equity portfolio.

He added that investment decisions were based on technical and financial studies assessing the viability of opportunities, expected returns and associated risks. The fund manages its portfolio under established investment policies and corporate governance frameworks, balancing investments across asset classes, sectors and maturities while maintaining sufficient liquidity to meet the SSC’s future obligations.

Government bonds remain an important fixed-income investment, offering relatively stable returns with low risk, Kanakrieh said. The fund’s cumulative returns from its government bond portfolio reached JD5.2 billion, adding that the government remained committed to paying interest on the bonds when due.

The SSIF’s real estate portfolio stood at JD1.1 billion, comprising land and commercial complexes across the Kingdom’s governorates.

Kanakrieh said the fund primarily acquires and holds land for the long term to benefit from rising market values, while conducting sales and purchases in line with this strategy. It generates income through leasing and build-operate-transfer (BOT) agreements, some extending up to 25 years.

Gains from the revaluation of real estate investments reached JD291 million compared with their acquisition costs.

The SSIF’s investments in companies listed on the Amman Stock Exchange (ASE) totaled approximately JD4 billion, representing more than 13 percent of the exchange’s market capitalization. These investments span the banking, mining, telecommunications, tourism and services sectors.

Kanakrieh outlined several major projects and partnerships launched or advanced during the year. These included a 7 percent stake in the Aqaba-Shidiya-Ma’an railway project and the establishment of the National Company for Water Investments to acquire a 15 percent stake in the National Water Carrier project.

The fund is directly financing the National Water Carrier project through its participation in a consortium of Jordanian commercial banks, according to the CEO. Other initiatives included establishing the Jordanian-Omani Investment Company in partnership with the Oman Investment Authority and signing a memorandum of understanding with the Saudi Jordanian Investment Fund.

He said the projects would expand the fund’s presence in vital sectors and create opportunities to complement its existing investments.

Future plans include exploring new investment opportunities in technology, real estate development, energy, mining, transportation and projects under the Economic Modernization Vision, while attracting strategic partners to develop them.

The fund seeks to boost existing investments, improve their performance, diversify income sources and expand its asset base.

Kanakrieh said that investment viability would remain the primary consideration guiding the fund's expansion, with a long-term approach focused on generating sustainable returns within acceptable risk levels, protecting the interests of contributors and pensioners, and supporting national economic growth.

For his part, Nawaiseh said Jordan had the institutional expertise needed to navigate changing economic conditions.

He said the SSIF’s third-quarter results reflected the effectiveness of its investment policies and governance frameworks, demonstrating the Jordanian economy's ability to withstand challenges arising from regional developments and build investment institutions with an active role in the economy.

Nawaiseh added that continued engagement with the media was "essential" to providing accurate and reliable information.

//Petra// HA