MPF members loss HK$1,448 each in December

Hong Kong's Mandatory Provident Fund recorded a slight monthly decrease of 0.5 percent of the overall return as of December 18, with an average loss of HK$1,448 each member, a consulting firm said.

The MPF Composite Index has risen by 15.6 percent this year, reaching a near 8-year high, with an average gain of HK$42,685 per person, according to a report published by GUM on Tuesday.

In December, the equity fund index fell 0.8 percent and is still up 22 percent for the year, while mixed asset funds dropped 0.2 percent, with a 15.5 percent gain this year. Fixed-income funds rose 0.03 percent, with a 3.2 percent gain this year, data from GUM showed.

The consultancy noted that equity funds were generally under pressure in December, with European Equity Funds performing best, recording a 2.3 percent increase and a full-year return of 23.8 percent, a remarkable performance against the market trend. 

In contrast, Other Equity Funds struggled, declining by 2.2 percent in December, but still achieving a 17.1 percent increase for the year.

Besides, Hong Kong and Greater China equity funds experienced slight monthly declines of 1 percent and 0.9 percent, respectively. However, they continue to rank among the top annual performers for the year, with impressive gains of 29.2 percent and 30.8 percent.