May MPF Returns: HK$3,799 Per Capita; Asian & Japan Equity Funds Lead

HONG KONG — Latest data from MPF Ratings shows that the Mandatory Provident Fund (MPF) recorded positive returns in May 2026, with a return rate of approximately 1.11%. Based on about 4.8 million scheme members in Hong Kong, MPF temporarily generated approximately HK$18.2 billion in investment income in May, with an average per capita gain of HK$3,799. Asian and Japan equity funds led the performance.

May Returns Recover; Per Capita Gain Nears HK$3,800

According to MPF Ratings tracking data, as of May 26, the overall MPF return rate was approximately 1.11%. Based on about 4.8 million scheme members in Hong Kong, MPF temporarily generated approximately HK$18.2 billion in investment income in May, with each member’s average account balance expected to increase to about HK$345,000, setting a new historical high.

Asian & Japan Equity Funds Lead

In terms of fund category performance, Asian equity funds and Japan equity funds performed best in May, benefiting from improved regional economic data and the weak yen supporting export corporate earnings. European and US equity funds also recorded positive returns. In contrast, Greater China equity funds lagged behind the overall market.

Warning: Full-Year Returns Still Face Concerns

MPF Ratings also issued a warning, stating that MPF recorded its largest single-month loss on record in March. Although MPF rebounded sharply in April and recovered the lost ground, market volatility remains significant in the first half of the year. Members should not use short-term performance as the main basis for adjusting their investment portfolios. Long-term investment and diversified allocation remain the sound strategies for retirement savings.

eMPF Platform Enhances Regulatory Effectiveness

On the other hand, the eMPF platform continues to exert regulatory effectiveness. The MPFA recently strengthened audits through the platform and successfully identified and transferred multiple cases of suspected forged sick leaves for early withdrawal of MPF to law enforcement agencies. The MPFA reminds citizens that any behavior of withdrawing MPF early through improper means is illegal, and serious cases can be sentenced to imprisonment.

Source: MPF Ratings, MPFA, MPF.hk Research Department