MPF Members Lose HK$4,018 in September as Rally Pauses

MPF consultant GUM reported that the MPF market ended its consecutive monthly gains in September. As of 18 September, the GUM MPF Composite Index stood at 305.1 points, down 1.2% month-to-date, with the year-to-date return narrowing to 6.5%.

Per-member return

Members temporarily booked a HK$4,018 loss in September, bringing the year-to-date cumulative return down to HK$21,317.

Three asset classes fell in tandem

Equity funds led the decline, falling 1.5% in the month but still up 8.6% year-to-date; mixed-asset funds dropped 1.2% (7.4% YTD); fixed-income funds fell the least at 0.2% (0.6% YTD).

Divergence persists

GUM Chief Investment Officer Lau Ka-hung said the September pullback looks like profit-taking after a sustained rally rather than a market reversal, with the decline moderate and members still up more than HK$20,000 YTD. Asian equity funds held up with a 24.5% YTD return, reflecting regional resilience, while Hong Kong equity funds turned negative year-to-date (-2.9%), signalling continued pressure on the local market.

Source: GUM (MPF consultant)