Mandatory Provident Fund (MPF) consultant GUM said today (June 3) that the MPF Composite Index rose 2.9% in May, with a year‑to‑date cumulative return of 7.2%. The average MPF gain per person in May was HK$9,886, and the year‑to‑date gain was HK$23,628.
GUM data shows that in May, the Equity Fund Index posted a return of 3.8%, with a year‑to‑date return of 9.3%. Among these, Asian equity funds posted a return of 10.9% in May and a year‑to‑date return of 29.4%. Japanese equity funds and US equity funds recorded returns of 9% and 4.5% respectively in May, with year‑to‑date cumulative returns of 16.1% and 9.7% respectively. Hong Kong equity funds (tracking index) posted returns of ‑1.7% in May and ‑1.9% on a year‑to‑date basis.
As for mixed asset funds and fixed income funds, their returns in May were 3.3% and 0.2% respectively, with year-to-date returns of 8.3% and 0.7% respectively.
GUM stated that it remains optimistic about US equity funds and Asian equity funds. However, the progress of reopening the Strait of Hormuz remains uncertain, and rising inflation expectations have led some central banks to start discussing the need for interest rate hikes. Attention should be paid to the risk of bond market pressure spilling over into the stock market.
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