MPF members gain HKD15,300 each in November

Research firm MPF Ratings has revealed that the Mandatory Provident Fund schemes have bounced back in November with an estimated gain of HKD15,300 (USD1,960) for each member on average, and the total gain of HKD69.9bn will reduce the year-to-date loss for the system to HKD213.7bn. Assuming the markets remain flat in the final week of November, total MPF assets are expected to end the month just above the psychologically important HKD1tr level, at HKD1.018tr. The gains were led by a rebound in Hong Kong and China equities, which are forecast to generate returns of about 20% this month, its best monthly performance since the MPF's inception. However, Francis Chung, MPF Ratings' chairman, said a record 35% month-on-month swing in local equity performance highlights ongoing and significant volatility, which MPF members need to be aware of.