MPF July Pullback: Average Loss HK,400 Per Member, YTD Return Remains 4.95%

According to the latest data from MPF Ratings, the Hong Kong MPF market experienced an expected pullback in July 2026. As of July 20, MPF recorded an investment loss of approximately 0.69%, equivalent to an average loss of about HK$2,392 per member.

Despite the July pullback, MPF year-to-date performance remains strong, with cumulative investment gains reaching HK$77.2 billion, or an average profit of approximately HK$16,102 per member, marking the tenth-best first seven months performance on record.

Key Metrics

• July Expected Return: -0.69%
• Year-to-Date Return: +4.95% (10th best first 7 months performance)
• Cumulative Investment Gains: HK$77.2 billion
• Average Account Balance: Approximately HK$345,900
• Total Assets: Expected to reach approximately HK$1.658 trillion by end of July

H1 2026 Performance Review

MPF achieved a 5.67% return in the first half of 2026, the sixth-best first-half performance since the system’s inception in December 2000. Asian equity funds performed exceptionally well, surging 27.93% in H1, representing the best first-half performance ever recorded.

Market Analysis

Francis Chung, Chairman of MPF Ratings, noted that following the strong first-half performance, July returns experienced volatility as markets faced renewed uncertainties regarding Middle East geopolitical tensions and technology stock valuation concerns. However, in the long run, the MPF system continues to provide robust retirement protection for Hong Kong workers.

Source: MPF Ratings

Related:

• MPF.hk – MPF Information Platform
• MPF Performance Comparison