MPF individual loss at HK$1,894 in May

Business | 29 May 2020 6:37 pm

Mandatory provident fund consultancy Gain Miles said every person lost HK$1,894 in May on average as the average return of MPF fell 0.9 percent in May.

The stock fund index was down by 2 percent. Mixed asset fund index dropped 0.2 percent, From the year to date, the average loss of MPF was 7.6 percent. Every person lost HK$16,723 on average, In the major indexes, the share fund index plunged 12 percent and mixed assets fund slumped 8.5 percent.

Gain Miles said the Hong Kong stock market plunged more than the foreign market, caused by national security law and related factors.

Elsewhere, MPF consultant Convoy said the outbreak of Covid-19 and the introduction of National Security Law to Hong Kong have put the markets in uncertainty.

The Convoy MPF Composite Index rose 3.6 percent month-on-month to 226.01 points as of May 21, with all MPF Fund sectors having positive returns for the month, in which the equity sector outperformed bond market sectors.

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