Mandatory Provident Fund ended six consecutive months of positive returns, down nearly 1.2 percent, with each scheme member averagely losing HK$4,140 for the first 19 days this month, according to a pension fund consulting firm MPF Ratings.
Artificial intelligence equity valuation concerns and investors' uncertainty over a December US rate cut dragged down the MPF return, the firm said.
The overall MPF composite index declined by 1.29 percent during the period, bringing the loss of MPF to HK$19.8 billion.
The year-to-date gains are expected to drop to HK$$191.3billion, or HK$39,895 per scheme member.
Total MPF assets are estimated to reach HK$1.54 trillion by the end of November, equivalent to an average MPF account balance of HK$317,260 for each member.
The US shares category saw the return drop the most for the first 19 days this month, down 3.46 percent.
However, the MPFR MPF Equity Fund (Other) jumped 5.95 percent, dominated by the Manulife MPF Healthcare Fund.
