MPF loses HKD50bn as of March

The total net asset value of the Mandatory Provident Fund was HKD1.12tr by the end of March, down by HKD50bn, or 4.27% lower than 12 months earlier. According to the MPF Authority's annual report, the annualised net return also dropped to 3.6% as of March from 4.9% 12 months ago. Net investment returns fell 22.4% to HKD326bn over 12 months to March 31. The MPF Authority also received HKD6.43bn from 62,000 tax-deductible voluntary contributors up to March for an increase of 13% year-on-year to HKD2.51bn from April 2021 to March this year. The total number of MPF accounts rose 2.1% to 10.5 million within the year ending March 31.