MPF funds have shown a small gain in the first half (H1) this year rising 1.4%, compared to a loss of 4.83% seen in H1 2010, according to the latest data from Lipper.

However, the funds are significantly down from H2 2010 when they generated a gain of 12.97%.

Bond MPFs outperformed all other asset classes in H1 this year, gaining 3.17%, while mixed assets MPFs came in second place, rising 1.75%. Equity MPFs also climbed, up 1.21% during H1 2011.

Among equity MPFs, equity sector Pharma & Health posted a strong return of 10.41% during H1 this year, while Europe and North America equity also rose 7.7% and 5.37% respectively during the period. Within equity MPFs, the biggest loser was Japan equity which saw a drop of 2.54% in the first six months this year. Both Greater China equity and Hong Kong equity also experienced losses, dropping 1.93% and 1.73% respectively.

Meanwhile, MPF funds have also experienced a loss for a second straight month in June, dropping 1.54%, while posting the biggest monthly drop in a year.

Equity and mixed asset MPFs saw a fall of 2.56% and 1.4% respectively in June while bond MPFs generated a marginal gain of 0.06% during the month.

Ten out of 11 equity MPFs experienced losses in June while only Japan equity rebounded a bit by rising 1.14% during the month.