MPF Ratings' MPFR All Fund Performance Index recorded a return of 3.61% for the month of May. In absolute dollar terms, May's investment gain was the equivalent to $48.2 billion, or about $10,100 per MPF's members.The YTD MPF return was about 5.75%, confirming the best first 5-month performance since 2017 and the 4th best since the MPF's launch. MPF YTD investment gains amounted to approx. $74.8 billion, or $15,600 per member.Equity markets led returns in May, with all major markets recording positive returns, including US equities which recorded a return of around 6.9%, its best monthly performance since November 2023, erasing all of its 2025 losses, but it still continued to be the laggard equity market this year, according to MPF Ratings.