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GUM: MPF Overall Performance Strong in 1H24; Avg. Per-member YTD Return $13,364
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MPF consultancy GUM released its MPF results report for 1H24. In year-to-date terms, as of 24 June, the GUM Composite Index mounted 5.5% to 237.8, the GUM Equity Fund Index hiked 8.4% to 318.2, the GUM Mixed Asset Fund Index lifted 4.6%, and the GUM Fixed Income Fund Index elevated 1% to 126.8. Year-to-date, the average per-member return was $13,364, while the average per-member return in June alone was $2,706. The overall performance of MPF funds was strong, with all equity funds posting positive returns, mainly due to the positive performance of US and Hong Kong equity-related funds. In the first 5 months of this year, net switching reached $21.79 billion, a YoY surge of 125%, the highest in the past 3 years, accounting for 65% of last year's full-year switching amount. Martin Wan, Strategy and Investment Analyst at GUM, commented that the data reflected members' active deployment of MPF assets. By asset class, US equity funds saw the largest net transfers during the year, with an inflow of nearly $9.63 billion. On the other hand, Hong Kong equity funds saw the largest net outflows, with outflows exceeding $4.1 billion. It is estimated that there were about $10.3 billion of transfers out of China- and Hong Kong-related fund classes. AAStocks Financial News |
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