MPF funds show lacklustre performance in April

The Gain Miles MPF Composite Index has dropped 4.5% in April, or 10.4% in the year to date, resulting in an average loss of HK$10,999 for each of the Mandatory Provident Fund (MPF) members in the first 23 days of this month. Each member in the Gain Miles scheme has lost HK$27,317 on average so far this year. As of April 23, the firm's MPF Equity Fund Index fell 5.9% this month. The Mixed Asset Fund Index declined 4.6%, while the Fixed Income Fund Index was down by 1.2%. Hong Kong equity funds fell by 7% in April and by 16.1% year-to-date. The Greater China Equity Fund fell by 8% in April and by a cumulative 20.1% year-to-date.