MPF members gain up to 7% in 2022: Gain Miles
- Asia First
- Jan 10, 2022
- 1 min read
Wealth consultancy Gain Miles has estimated that each Mandatory Provident Fund member will enjoy a 5-7% gain this year. Gain Miles director Michael Chan Yui-lung said the estimate is quite conservative given the current situation of the pandemic in the Eurozone and the United States. Gain Miles said the estimation reverses the 0.3%, or HKD807 (USD103.50), loss on average last year. Chan said the under-performed Hong Kong stock market may rebound this year, driven by China's stable economic growth and easing monetary policies. Chan said the government's plan to allow the MPF to invest in China's national debt will provide more choices for low-risk investors in the future. The top five MPF providers for market shares were still Manulife, HSBC, Sun Life, AIA, and BOC-Prudential in 2021.