MPF assets trend downward in May

Total assets of the Mandatory Provident Fund are estimated to have shrunk by 2.6 percent to HK$1.08 trillion in May from April.

That is the reading from MPF consultant GUM, which points to North American equity funds topping the net capital inflow.

There was HK$625 million transferred from the MPF Conservative funds, which reported the largest net outflow of HK$1.12 billion last month.

GUM also disclosed the market shares of scheme providers.

Manulife takes the top spot by accounting for 27.3 percent of the market followed by the Hongkong and Shanghai Banking Corporation (17.6 percent) and Sun Life (11.1 percent).

Manulife is also the best performer for MPF investments this year with a 0.3 percent of return, while Sun Life reported a negative return of 0.34 percent, the worst of the top 10 biggest scheme providers.