Hong Kong’s MPFA unfazed by investment loss

Hong Kong's Mandatory Provident Fund Schemes Authority (MPFA) said that the MPF investment loss is only a paper loss for the time being as scheme members can only withdraw their MPF upon reaching 65 years old, or in accordance with the specific circumstances. The MPFA said the MPF is a long-term investment spanning 30 to 40 years, and members should not be overly concerned about short-term market volatilities nor try to time the market as the gains do not make up for the losses. In its report, MPF Ratings' MPFR All Fund Performance Index lost 13% for the first six months of 2022, the worst first-half return since the Mandatory Provident Fund Schemes' inception. It said that the loss last month was 3.02%, bringing the second-quarter deficit to 7.3%.