Table 1: Overall performance of MPF and average return in April (as of 15 April 2024)
| Index | Value | Return for April 2024 (Half month) | 2024 YTD Return |
| GUM MPF Composite Index | 227.65 | -1.4% | 1.0% |
| GUM MPF Equity Fund Index | 297.77 | -1.8% | 1.4% |
| GUM MPF Mixed Asset Fund Index | 232.29 | -1.8% | 1.0% |
| GUM MPF Fixed Income Fund Index | 125.73 | -0.2% | 0.1% |
| Average MPF Gain/Loss Per Member Note 1 (HK$) | -3,608 | +2,413 | |
Table 2: Performance of MPF Sub-Category Funds Index with
Top 2 Assets Under Management (AUM) in Each Category (as of 15 April 2024)
| Category | Sub-category Fund Index | Return for April 2024 (Half month) | 2024 YTD Return |
| Equity Fund | United States Equity Fund | -3.5% | 6.0% |
| Hong Kong Equity Fund | 0.1% | -3.1% | |
| Mixed Asset Fund | Mixed Asset- (>80-100% Equity) Fund | –1.6% | 2.0% |
| Mixed Asset Funds (60 – 80% Equity) Fund | -1.6% | 1.0% | |
| Fixed Income Fund | MPF Conservative Fund | 0.2% | 1.2% |
| Guaranteed Fund | –0.2% | –0.1% | |
| DIS Fund | DIS Core Accumulation Fund | -2.4% | 2.2% |
| DIS Age 65 Plus Fund | -1.9% | -0.9% |
As of 15 April:
- The MPF recorded a decline of 1.4% in April, resulting in an average loss of HKD $3,608 per member. However, the total annual gain still amounted to HKD $2,413.
- Equity, Mixed-asset, and Fixed-income Fund indices all declined, with drops of 1.8%, 1.8%, and 0.2% respectively in mid-April.
- Iran’s airstrikes on Israel have put pressure on global equity markets. Additionally, higher-than-expected inflation data in the US has led to a decline in the bond market.
- Market expect Federal Reserve may further delay interest rate cuts, potentially reducing the number of rate cuts from the initial 3 to 2.
- The US Equity Fund experienced a relatively significant decline of 3.5%, while the Hong Kong Equity Fund experienced a slight increase, rising by 0.1%.
- DIS Fund was impacted by both equity and bond markets. The Core Accumulation Fund declined by 2.4% in April, but still experienced an overall increase of 2.2% in 2024. The Age 65 Plus Fund dropped by 1.9% in April and resulted a 0.1% decline for the year.
- MPF Conservative Fund maintained stable returns, achieving a 0.2% gain in April and a 1.2% return for the year.
Note:
- Calculation based on total MPF assets HKD 1,183,036 million as of 31 March 2024, and total MPF Scheme members 4,754,000 as of 31 December 2023. The latest average assets per member was HK$248,851 as of 31 March 2024. Return of GUM MPF Composite Index is as of 15 April 2024.
*The growth of all fund categories indexes is calculated by asset-weighted point-to-point growth. The data for April 2024 return is summarized from 1 April to 15 April 2024.
－ The End －
中文版本：
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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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.