MPF Surpasses HKD1.5tr For First Time

Hong Kong’s Mandatory Provident Fund (MPF) surpassed HKD1.5tr (USD192bn) in total assets for the first time at the end of September, reaching a record HKD1.53tr, according to provisional data from the MPF Schemes Authority. Equity and mixed-asset funds, which account for nearly 80% of total assets, posted average net returns of 18.8% and 10.6%, respectively, over the past year. The Core Accumulation Fund under the Default Investment Strategy achieved a 9.8% return for the same period and an annualised 6.8% since 2017, both outperforming inflation. MPFA chairwoman Ayesha Macpherson Lau said more than HKD200bn of asset growth this year stemmed from net investment income, reflecting robust performance and investor confidence amid improving market conditions.