Can you day-trade your MPF? Forward pricing means you can’t

My cousin, a recent university graduate keen on investing, plans to put most of his MPF in equity funds — and switch funds when markets dip to “buy low”. I had to shake my head: you simply cannot day-trade MPF funds.

How are MPF funds traded?

MPF funds trade on a “forward pricing” basis: the unit price is only set after market close, based on net asset value — when you place the order, the actual dealing price doesn’t exist yet. Nothing like live-quoted stock trading; trying to catch the bottom means always arriving late.

How long does a fund switch take?

After the trustee receives your switching instruction and completes the paperwork, execution typically takes several working days, during which prices may have moved. Transferring accrued benefits from a preserved account to a new scheme takes 6–8 weeks — the old trustee redeems units, mails a cheque to the new trustee, who then buys in. Any market move in between shows up in your final price.

Where can you check fund prices?

Trustees must publish constituent fund prices monthly in one major English and one major Chinese newspaper; some also publish online. Rather than trading, review regularly whether your mix still suits your risk appetite.

To compare fund fees and performance, visit MPF fund comparison; for job-change account transfers, see the MPF education hub.