GUM MPF Performance Index Highlights November 2023: Strong Rebound in Nov – MPF Generates Average Earnings of Over HKD 10,000 per member

Nov 28, 2023
Reading Time: 4 minutes

[Hong Kong – 28 November 2023]

Table 1: Overall MPF Market Performance and Average Gain/Loss Per Member (as of 21 November 2023)

 November 2023 Return (%)2023 YTD Return (%)
GUM MPF Composite Index+4.5%+1.6%
Average MPF Gain/LossPer Member Note 1 (HK$)10,200 3,795
 November 2023 Return (%)2023 YTD Return (%)
GUM MPF Equity Fund Index+5.6%-0.2%
GUM MPF Mixed Asset Fund Index+5.4%+3.7%
GUM MPF Fixed Income Fund Index+0.9%+1.9%

Table 2: Performance of MPF Sub-Category Funds Index with
Top 2 Assets Under Management (AUM) in Each Category (as of 21
November 2023)

CategorySub-category Fund IndexNovember 2023 Return (%)2023 YTD Return (%)
Equity Funds Hong Kong Equity Funds+3.6%-11.7%
United States Equity Funds+8.0%+21.3%
Mixed Asset FundsMixed Asset Funds (80 – 100% Equity)+6.3%+3.5%
Mixed Asset Funds (60 – 80% Equity)+5.5%+2.5%
Fixed Income FundsMPF Conservative Funds+0.2%+3.1%
Guaranteed Funds+1.0%+0.9%
DIS FundsDIS Core Accumulation Funds+5.6%+9.1%
DIS Age 65 Plus Funds+3.7%+3.2%

As of November 21st:

  • Strong performance in MPF in November, with average earnings reaching HKD 10,200 per member.
  • Equity, Mixed asset, and Fixed income fund indices all recorded positive returns in November. Among them, Equity funds and Mixed asset funds performed well, increasing by 5.6% and 5.4% respectively, while Fixed income funds grew by 0.9%.
  • Global markets rebounded sharply in early November, with the US stock fund index soaring by 8%, while the Hong Kong stock fund index had a more modest increase of 3.6%. The Hang Seng Index briefly surpassed 18,000 points but later retreated to the level of 17,700 points.
  • Following the meeting between Xi Jinping and Joe Biden at the mid-November summit in San Francisco, both sides agreed to strengthen dialogue and cooperation, including the resumption of military exchanges, to maintain stability in bilateral relations, which is expected to benefit the long-term performance of the China and Hong Kong fund indices.
  • Market expectations for interest rate hikes are nearing their peak, with interest rates expected to remain at 5.25% to 5.5% until the middle of next year. MPF Conservative funds continue to benefit from the high-interest environment, recording stable positive returns.

Note:

  1. Calculation based on total MPF assets of previous month end and total MPF Scheme members 4,694,000 as of 31 March 2023. The latest average assets per member was HK$226,672 as of 31 October 2023. Return of GUM MPF Composite Index is as of 21 November 2023.

*The growth of all fund categories indexes is calculated by asset-weighted point-to-point growth. The data for November 2023 return is summarized from 1 November to 21 November 2023.

中文版本:

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