Friday, July 10, 2020
Martin Hennecke

MPF continues to lose for members
Convoy Global Holdings released its latest Mandatory Provident Funds Index performance and recorded an average loss of HK$14,139 per member since January 2018.

Convoy MPF Composite Index recorded 220.08 points which increased 2.73 percent compared to the previous month, yet dropped 6.88 percent since January this year. Convoy MPF Equity Index reported a gain of 4.87 percent compared to previous month to 234.20 points, whereas the index saw an 8.86 percent drop since January.

Convoy MPF Bond index remains steady was 151.44 points, up 0.52 percent compared to last week, while since January the index slid 2.60 percent.

The Mandatory Provident Fund Schemes Authority said that as at the end of 2017, it had 4.27 million members and gained HK$5,106 on average in November. The company said that the European funds continued to see a falling trend, in November they slid 1.54 percent.

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