自强积金制度在2000年实施以来，合共占强积金总资产值近80%的股票基金及混合资产基金的平均年率 化净回报分别为5.1%及4.5%，跑赢同期1.8%的年率化通胀率。 第3季以永久离港为理由，提早提取强积金的申索数目为6900宗，季环比增加7.8%，同比减少9.2%，涉 及金额16.61亿港元，季环比增加5.5%，同比减少8.5%。 第3季以抵消遣散费为理由，提取强积金的申索有9300宗，季环比减少15.5%，同比增加13.4%，涉及金 额7.91亿港元，季环比减少20.3%，同比增加16.8%。 截至9月底，362万个强积金账户有投资于俗称"懒人基金"的预设投资策略(DIS)，占全部1132万个强积 金账户近三分之一，有关投资总资产值为1609亿港元，占强积金总资产值超过10%。DIS旗下的核心累 积基金及65岁后基金自2017年4月推出以来，分别录得6.8%及2.5%的平均年率化净回报，跑赢同期1.8% 的年率化通胀率。 截至9月底，强积金可扣税自愿性供款(TVC)账户数目有8.9万个，同比上升14%。自TVC于2019年4月实 施以来，相关账户的累计供款金额为137亿港元。 智通财经APP获悉，香港积金局 ...

计入供款后，强积金总资产规模预计于11月底达1.521万亿港元，较10月1.538万亿港元下跌，相当于每 名成员平均帐户结余31.73万港元，较10月减少3515港元，但较2025年初累增47927港元。 积金评级表示，在强积金预计出现显著亏损之际，货币与债券虽成为最佳表现资产，但"其他股票基 金"类别的卓越表现更令人惊喜。该类别本月上涨5.95%，由宏利MPF康健护理基金主导，充分展现医 疗板块的分散投资特性。 积金评级表示，强积金11月至今投资回报下跌1.29%。以金额计算，11月目前录得约198亿港元投资损 失，平均每名成员亏损4140港元，年初至今收益预计1913亿港元，人均收益39895港元。积金评级称， 在创下2017年以来首见的连续六个月正回报后，11月强积金出现亏损，主要受AI股估值疑虑及美联储 12月降息预期降温影响。 ...

Core Insights - The Hong Kong Mandatory Provident Fund (MPF) market remains stable overall as of October 2025, despite initial volatility due to US-China trade tensions [1] - The AQUMON MPF "Composite Fund Index + Inflation Index" recorded a positive return of 0.61% in October [1] - Fund switching activities surged on October 13, exceeding the monthly average by more than 2.5 times, indicating a proactive approach by members in managing their investments [1] Market Reactions - Global geopolitical tensions in October led to temporary market fluctuations, prompting members to adjust their investment portfolios [1] - Members displayed a balanced approach between "risk aversion" and "market entry," reflecting an increasing rational investment awareness among MPF members [1] - The heightened sensitivity to market changes and proactive management of retirement savings are key to long-term stable growth [1]

Core Insights - The Hong Kong Investment Funds Association (HKIFA) survey indicates that Mandatory Provident Fund (MPF) savings are the most frequently mentioned source of expected retirement income among working individuals (63%) and retirees (49%), highlighting the MPF's central role in the retirement security system [1] Group 1: Investment Behavior - 76% of respondents review their MPF investment portfolios at least annually, indicating a reasonable level of engagement [1] - The primary factors driving portfolio adjustments are current fund performance and market volatility, which may lead to "buy high, sell low" outcomes [1] - Employees are encouraged to establish a balanced and diversified investment portfolio based on different life stages, financial goals, and risk tolerance, with regular reviews and management [1] Group 2: Asset Preferences - Stock investments remain the most common asset class within MPF, with over 80% of respondents holding related allocations, and Hong Kong stocks are the most favored investment option overall [1] - Looking ahead to the next 12 months, respondents show a preference for stocks in Hong Kong, China, and the United States [1] - 53% of respondents believe the current types of funds available are sufficient, particularly among those aged 50 and above [1] Group 3: Future Investment Options - Sustainable development funds are the most desired new investment option for MPF plans, with 37% of respondents expressing interest, followed by advanced industry funds (31%) and high-yield bond funds (30%) [1]

Core Insights - The overall return of Hong Kong's Mandatory Provident Fund (MPF) dropped by 1.4% as of October 17, resulting in an average loss of HKD 4,449 per person [1] - Year-to-date, the MPF composite index has increased by 14.2%, with an average gain of HKD 38,932 per person [1] Fund Performance - Among the three major indices, the stock fund index fell by 2.5%, the mixed asset fund index decreased by 0.7%, while the fixed income fund index rose by 0.1% [1] - In October, the Hong Kong stock fund experienced a significant decline of 6.5%, although it still recorded a year-to-date increase of 28% [1] - The Greater China stock fund also saw a decline of 5% in October, but it maintained a strong year-to-date return of 31.1%, leading the annual performance [1] Market Analysis - GUM indicated that the stock funds were under pressure in October, which was the primary factor dragging down overall performance [1] - Despite the market adjustment in October, the MPF has still achieved positive returns year-to-date [1] - Members are encouraged to review their asset allocation strategies based on their risk tolerance, balancing short-term volatility with long-term growth potential [1]

Core Insights - The total assets of the Mandatory Provident Fund (MPF) market in Hong Kong increased by 3.7% to HKD 1.53 trillion as of September 30 this year [1] Market Share Analysis - Manulife leads the market with a share of 27.4%, followed by HSBC at 18.2% and Sun Life at 11.0% [1] - The top five providers, including AIA at 9.3% and BOC Prudential at 7.6%, collectively hold over 73.5% of the MPF market [1] Market Share Changes - HSBC experienced the largest increase in market share, rising by 0.37% due to net fund inflows and investment returns [1] - Manulife saw the most significant decline in market share, decreasing by 0.4%, primarily due to investment return challenges [1]

Core Viewpoint - The Hong Kong Mandatory Provident Fund (MPF) Authority has imposed a 13-year ban on former MPF intermediary Lin Chong-Hao from AIA Insurance (International) Limited for serious misconduct, marking the most severe penalty since the regulatory system for MPF intermediaries was implemented in 2012 [1] Group 1: Misconduct Details - Lin Chong-Hao was found to have forged the signatures of four plan members on relevant MPF forms and improperly used their personal information to open four new MPF accounts [1] - He also transferred MPF funds from three plan members' existing accounts to the newly opened accounts, which constitutes a violation of the Mandatory Provident Fund Schemes Ordinance and the Code of Conduct for Registered Intermediaries [1] Group 2: Regulatory Response - The MPF Authority's Operations Director, Hsu Hui-Yi, stated that actions such as forging client signatures and improperly using client personal data are considered serious misconduct and are intolerable under any circumstances [1] - The authority emphasized the severity of the misconduct involved in this case, highlighting the breach of integrity and the necessity for strict penalties as a warning to others [1]

Core Insights - The total assets of the Mandatory Provident Fund (MPF) in Hong Kong have surpassed HKD 1.5 trillion, reaching a temporary figure of HKD 1.53 trillion as of September 2025, marking a significant milestone for the MPF system [1] - The increase in total assets this year includes over HKD 200 billion attributed to net investment returns, indicating strong performance in the accumulation of retirement savings [1] - The average net returns for stock funds and mixed asset funds over the past 12 months were 18.8% and 10.6%, respectively, with long-term annualized net returns since the MPF's inception at 5.1% and 4.5% [1] Investment Strategy Performance - The Default Investment Strategy (DIS), known as the "lazy fund," has shown an average net return of 9.8% over the past 12 months and an annualized net return of 6.8% since its launch in 2017 [2] - Both the DIS and other fund types have outperformed the annualized inflation rate of 1.8% since the implementation of the MPF system and the introduction of DIS [2]

Core Insights - The MPF market in Hong Kong continues its upward trend, showing robust performance as of September 18, 2025 [1] - The GUM MPF Composite Index recorded a return of 2.9% in September, with a cumulative increase of 15.2% year-to-date [1] - The average return per person reached HKD 9,044 for the half month and HKD 41,460 year-to-date, primarily driven by strong performance in equity assets [1] Performance Analysis - The overall MPF market is performing steadily, with equity assets leading the gains, particularly in the Greater China and local markets [1] - Mixed asset funds benefited from the rise in equities, yielding satisfactory returns, while fixed income funds maintained stability but offered limited returns [1]

Core Insights - The Hong Kong Mandatory Provident Fund (MPF) market continues its upward trend, with a robust overall performance as of September 18, 2025 [1] - The GUM MPF Composite Index recorded a return of 2.9% in September, leading to a year-to-date cumulative increase of 15.2% [1] - The average return per person reached HKD 9,044 for the half month and HKD 41,460 year-to-date, primarily driven by strong performance in equity assets [1] Performance Summary - The MPF market shows stable and positive performance, with equity assets continuing to dominate the upward trend, particularly in Greater China and local markets [1] - Mixed asset funds benefited from the rise in equities, resulting in satisfactory returns, while fixed income funds maintained stability but offered limited returns [1]