Table 1: Overall performance of MPF and average return in January (As of 17 January 2025)
Index | Value | Returns for January 2025 (%) |
GUM MPF Composite Index | 245.1 | -0.1% |
GUMMPF Equity Fund Index | 332.1 | -0.2% |
GUM MPF Mixed Asset Fund Index | 246.5 | +0.0% |
GUM MPF Fixed Income Fund Index | 128.7 | +0.1% |
Average MPF Gain/Loss Per Member Note 1 (HK$) | -190 |
Table 2: Performance of MPF Sub-Category Funds Index with Top 2 Assets Under Management (AUM) in Each Category (as of 17 January 2025)
Category | Sub-category Fund Index | Returns for January 2025 (%) |
Equity Funds | United States Equity Fund | +2.2% |
Hong Kong Equity Fund | -2.5% | |
Mixed Asset Funds | Mixed Asset Fund (80 – 100% Equity) | -0.4% |
Mixed Asset Fund (60 – 80% Equity) | -0.3% | |
Fixed Income Funds | MPF Conservative Fund | +0.2% |
Guaranteed Fund | +0.0% | |
DIS Funds | DIS Core Accumulation Fund | +1.0% |
DIS Age 65 Plus Fund | +0.1% |
[Hong Kong, January 22, 2025] As of 17 January 2025, the performance of U.S. Equity Funds in the MPF market showed mixed results. The GUM MPF Composite Index recorded a return of -0.1%, reflecting a slight overall decline. The GUM Equity Fund Index fell by 0.2%, while the GUM Mixed Asset Fund Index remained flat. The GUM Fixed Income Fund Index saw a slight increase, recording a return of 0.1%. Overall, MPF members experienced an average loss of HKD $190 in January.
In the table of “Performance of MPF Sub-Category Funds Index with Top 2 Assets Under Management (AUM) in Each Category”, U.S. Equity Fund performed strongly, recording a return of 2.2% for the month, continuing the upward trend seen in U.S. stocks over the past year. Conversely, Hong Kong Equity Fund faced pressure, with a return of -2.5%.
In the Mixed Asset Fund category, Mixed Asset Fund (80 – 100% Equity) posted a return of -0.4%, while Mixed Asset Fund (60 – 80% Equity) recorded a return of -0.3%. Among Fixed Income Funds, the MPF Conservative Fund achieved a return of 0.2%, while the Guaranteed Fund remained flat. DIS – Core Accumulation Fund performed better, with a return of 1.0%, while the DIS – Age 65 Plus Fund recorded a return of 0.1%. Members should closely monitor market dynamics to adjust their investment strategies accordingly.
MPF Investment Highlights for the Month:
- U.S. non-farm payrolls (Dec) exceeded expectations, raising concerns about a rebound in U.S. inflation. As a result, expectations for a slowdown in the Federal Reserve’s rate cuts have increased, reducing the likelihood of a rate cut in March.
- The Hong Kong Equity market is adopting a cautious stance ahead of President Trump’s official inauguration on January 20, with the Hang Seng Index fluctuating between 19,000 and 20,000 points.
- With the new U.S. president, Trump, taking office, global market volatility is expected to rise, prompting members to pay closer attention to market developments.
Notes:
- The average MPF return per member is calculated using total MPF assets HK$1,291,192 millions of the previous month (as of 31 December 2024). The number of MPF Scheme members was 4,754,000 as of 31 December 2023. The latest average assets per member was HK$271,601 as of 31 December 2024. The GUM MPF Composite Index return for January 2025 as of January 17, 2025.
*The growth of all fund categories indexes is calculated by asset-weighted point-to-point growth. The data for January return is summarized from 1 January to 17 January 2025.
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.
Media Enquiries, please contact:
GUM
Miss Carmen Tang/ Miss Karen Siu
Phone: (852) 9126-9332 / (852) 6011-5603
Email: carmentang@gumhk.com / karensiu@gumhk.com
Website: www.gumhk.com
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.