Table 1: Overall performance of MPF and average return in February (Half Month)
| Index | Value | Returns for February 2024 (Half-month) | 2024 YTD Return |
| GUM MPF Composite Index | 224.39 | 1.6% | -0.5% |
| GUM MPF Equity Fund Index | 291.58 | 3.1% | -0.7% |
| GUM MPF Mixed Asset Fund Index | 229.21 | 1.0% | -0.4% |
| GUM MPF Fixed Income Fund Index | 125.37 | -0.1% | -0.2% |
| Average MPF Gain/Loss Per Member Note 1 (HK$) | +3,919 | -1,113 | |
Table 2: Performance of MPF Sub-Category Funds Index with
Top 2 Assets Under Management (AUM) in Each Category (as of 15 February 2024)
| Category | Sub-category Fund Index | Returns for February 2024 (Half-month) | 2024 YTD Return |
| Equity Fund | United States Equity | 3.8% | 5.4% |
| Hong Kong Equity | 3.4% | -6.5% | |
| Mixed Asset Fund | Mixed Asset- (>80-100% Equity) | 1.6% | -0.6% |
| Mixed Asset Funds (60 – 80% Equity) | 1.2% | -0.8% | |
| Fixed Income Fund | MPF Conservative Funds | 0.2% | 0.6% |
| Guaranteed Funds | 0.0% | -0.4% | |
| DIS Fund | DIS Core Accumulation Funds | 1.1% | 1.5% |
| DIS Age 65 Plus Funds | -0.4% | -0.5% |
As of 15th February:
- The MPF had a slight rebound in mid-February, rising by 1.6%, and the average per capita return resulted in a gain of HKD 3,919. However, there was still an overall loss of HKD 1,113 for the year.
- In mid-February, the equity and mixed asset fund indices saw positive returns of 3.1% and 1.0% respectively, while the fixed income fund declined by 0.1%.
- The US stock fund rose by 3.8% as the US stock market continued its upward momentum from the previous month. The S&P 500 index surpassed the 5,000-point mark, reaching a new all-time high.
- The Hong Kong stock fund rose by 3.4%. In February, the Hang Seng Index briefly tested the 15,510-point level before rebounding and surpassing the 16,000-point mark.
- In January, the US Consumer Price Index (CPI) declined to 3.1% year-on-year, falling short of the expected 2.9%. Market expectations suggest that the Federal Reserve will maintain interest rates unchanged at its March meeting. The US 10-year Treasury yield rose above 4.2%, putting pressure on bond funds.
Note:
- Calculation based on total MPF assets HKD 1,121,691 million as of January 31 2024, and total MPF Scheme members 4,694,000 as of 31 March 2023. The latest average assets per member was HK$238,962 as of 31 January 2024. Return of GUM MPF Composite Index is as of 15 February 2024.
*The growth of all fund categories indices is calculated by asset-weighted point-to-point growth. The data for February 2024 return is summarized from 1 February to 15 February 2024.
中文版本：
－ The End －
About GUM
GUM is a boutique consulting firm that provides solutions to corporate on MPF and employee benefits. We focus on people and that is why we put “U” in the very core of our brand “GUM”. Our priorities are always meeting the needs of our corporate clients and their employees, our strategic partners as well as all MPF members of Hong Kong. With our vast market experience and expert teams around actuarial, investment and employee communication, GUM leads the market to innovate, walking hand in hand with our clients to go faster and further.
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GUM
Miss Cherry Chan / Miss Karen Siu
Phone: (852) 9126-9200 / (852) 6011-5603
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This document provided the information on an “AS IS” basis. The Company undertakes no obligation to update any of the information contained in this document. Some information contained in this document contains forward-looking statements. The words “believe”, “expect” and similar expressions are also intended to identify forward-looking statements. These forward-looking statements are not historical facts. Rather, these forward-looking statements are based on the current beliefs, assumptions, expectations, estimates, and projections of our management. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Consequently, actual results could differ materially from those expressed, implied or forecasted in these forward-looking statements. Reliance should not be placed on these forward-looking statements.