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MPF Ratings: Per Member Profit $8,600 in May, Driven by HK & CN Equities
Recommend 2 Positive 1 Negative 11 |
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MPF Ratings, an MPF research agency, noted that the MPF system is on track to produce a positive May return and a 3rd monthly gain in 2024, led by Hong Kong and China equities. May’s current month-to-date investment gain is about 4.02% as of 21 May. The estimated year-to-date gain is 6.33%, which if achieved would be MPF’s best first 5 calendar months’ performance since May 2017 and the 4th best since MPF’s inception. In HKD terms, a 4.02% gain would be equivalent to an approximate investment gain of $40.8 billion, or $8,600 gain per MPF’s 4.75 million members, contributing to a year-to-date investment gain of $66.4 billion, or $14,000 per member. All asset classes currently logged positive returns in May. Hong Kong and China equities achieved an estimated 7.59% return, which is expected to top MPF’s May performance table for a 2nd consecutive month. After factoring in contributions, total MPF assets are currently forecasted to be around $1.23 trillion at end-May, up $44.8 billion from end-April and up $88.8 billion year-to-date. This is equivalent to an average MPF account balance of $258,700, up $9,400 from end-Apri and up $18,700 year-to-date. AAStocks Financial News |
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