Hong Kong’s MPF members each gain HK$31,300 windfall, best showing in 7 years

Oct. 4, 2024 - South China Morning Post

Hong Kong’s Mandatory Provident Fund (MPF) earned a combined HK$148.8 billion (US$19 billion) in the year’s first nine months, equivalent to HK$31,300 for each member, marking the best performance in seven years and the fourth best ever.

Hong Kong and China equity funds – the most popular fund choice with about a quarter of all MPF assets – showed the best performance during the period at 23.6 per cent.

In September alone, they ranked top with gains of 18 per cent, the second best monthly return on record. Hong Kong’s benchmark Hang Seng Index jumped 18 per cent in September, the best month since November 2022, while the Shanghai Composite Index jumped 17 per cent, the most since April 2015.

The sum, which takes into account investment gains and new contributions from members, works out to a record HK$279,100 per member...