Gloomy November for Gain Miles MPF

The Gain Miles MPF Composite Index dropped 0.3 percent in November, with an average MPF loss of HK$896, or 0.3 percent, per member as of November 25.

So far this year, each member in the Gain Miles scheme has gained 1.3 percent or HK$3,346 on average. In November last year, the average gain of each member was 6.3 percent or HK$14,594 for the month, and 8.4 percent or HK$19,126 for the first 11 months of 2020.

The latest average assets per member in its MPF schemes was HK$263,056 as of October 31, 2021.

As of November 25, the firm's MPF Equity Fund Index dropped 0.4 percent this month. The Mixed Asset Fund Index declined 0.3 percent, while the Fixed Income Fund Index was down by 0.2 percent.

Hong Kong equity funds were the worst performer, both in November and for the whole year so far, which lost 8.7 percent in the first eleven months.

Gain Miles, the assurance consultancy, said the supply shortage driving inflation to multi-decade highs shows some signs of easing in the United States, but the increased Covid-19 confirmed cases may lead to upside risks to inflation. This is reflected in the slight decline in the Gain Miles MPF Composite Index in November.

The Mixed Asset Fund Index had the best return of 3.3 percent as of November 25 this year, followed by the 0.6 percent gain in Equity Fund Index.