Hong Kong’s MPF sees total assets climb back above crucial HK$1 trillion mark after record November gains, members earn HK$20,300 each
- Compulsory retirement scheme reports a record monthly gain of HK$92.9 billion for November
- MPF is, however, on track to reporting its first yearly loss since 2018
All categories of funds report a gain in November, with all 412 investment funds reporting a return of 9.8 per cent on average. November’s gains represent the best monthly returns on record since the MPF was set up in 2000. On a first 11-month basis, however, these investment funds still lost 16 per cent, MPF Rating data shows.
“MPF Ratings reiterates that diversification and long-term investing, not short-term market speculation, are key to long-term wealth creation,” said Francis Chung, MPF Ratings’ chairman. He, however, urged investors to not be over optimistic about a further bounce.
The MPF’s returns have been diminishing for the past four years. They dropped from a 12.7 per cent gain in 2019 to a 12.2 per cent increase in 2020, then to a 0.6 per cent rise last year, according to data from Refinitiv Lipper.