Core Viewpoint - The Hong Kong Mandatory Provident Fund (MPF) system recorded a slight decline of -0.02% in November, failing to achieve positive investment returns for the seventh consecutive month, resulting in a total impact of approximately HKD 300 million on member accounts [1] Group 1: Investment Performance - The total assets of the MPF system reached a historical high of HKD 1.54 trillion, with an average account balance of HKD 321,337 per member, driven by continuous monthly contributions [1] - Despite the negative return in November, the projected investment income for 2025 remains high at HKD 210.8 billion, translating to an average return of approximately HKD 43,972 per member [1] - The other stock fund categories within the MPF saw an increase of 9.46% in November, largely attributed to the Manulife MPF Health Care Fund, which achieved a return of 10.02%, significantly outperforming other funds [1] Group 2: Future Outlook - The year 2025 is anticipated to be a strong year for the MPF system, with an average monthly return of 1.46%. If this trend continues into December, the annual return could reach approximately 17.6%, marking it as the fourth-best annual performance in MPF history, exceeding the average annual return by 12% but lower than the historical best of about 24.61% recorded in 2009 [1]

Core Insights - The Hong Kong Mandatory Provident Fund (MPF) performance index increased by 1.17% in July, with a year-to-date gain of 10.13% [1] - Investment returns in July amounted to approximately HKD 16.8 billion, resulting in an average profit of about HKD 3,500 per MPF member [1] - Total MPF assets reached a historical high of approximately HKD 1.45 trillion by the end of July, an increase of about HKD 20.3 billion from June [1] Performance Summary - The stock asset category continued to lead, with Hong Kong and Mainland China stock funds, Asian stock funds, and US stock funds showing the most significant performance [1] - Hong Kong and Mainland China stock funds rose by 3.78% in July, with a year-to-date increase of 22.98%, ranking first among all categories [1] Asset Growth - Year-to-date total MPF asset growth reached approximately HKD 158.6 billion, equating to an average account balance of about HKD 302,400 per member, which is an increase of HKD 4,200 from June [1] - Total returns year-to-date reached approximately HKD 132.2 billion, with an average profit of about HKD 27,600 per member [1]