HK retirement funds hammered in first quarter

Business | 17 Apr 2020 1:25 pm

Mandatory provident fund consultancy Gain Miles reported a loss of HK$26,000 per person on average in the first quarter and a loss of HK$15,600 per person on average in March.

As of March 31, the return on MPF fell by 11.6 percent.

For the first three months, among the three major indexes, the equity fund index dropped by 10 percent; the mixed asset fund index lost  8.8 percent; the fixed income fund was steady.

The worst performer was the European equity fund index, with a negative return of 23.5 percent.

Other share and Asian share fund index performed the best but still recorded a fall of 13.6 percent.

The Hong Kong equity fund index dropped by 15.4-16 percent. 

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