Core Viewpoint - GUM reported a 1.6% increase in the "GUM MPF Composite Index" for August, indicating positive performance in the Hong Kong Mandatory Provident Fund (MPF) sector, with an average gain of HKD 4,714 per member for the month and HKD 32,416 year-to-date [1] Group 1: Performance Metrics - The "GUM MPF Composite Index" rose to 274.4 points in August 2025, reflecting a 1.6% increase [1] - Average earnings per member for August were HKD 4,714, while year-to-date earnings reached HKD 32,416 [1] Group 2: Fund Performance - All MPF funds have generated profits for members year-to-date, with Hong Kong and Greater China funds yielding the highest returns [1] - The "Greater China Equity Fund" achieved the top return in August due to increased trading activity in the A-share market and a rise in new account openings reported by several brokerages [1] Group 3: Market Outlook - The U.S. Bureau of Labor Statistics significantly revised down employment data for May and June, leading to heightened expectations for a Federal Reserve rate cut in September [1] - The S&P 500 maintained upward momentum in August due to solid second-quarter earnings, suggesting a favorable environment for equity markets [1] - With most global tariff negotiations settled, market focus is expected to shift back to fundamentals, prompting members to pay attention to long-term economic indicators and market valuations [1] Group 4: Asset Allocation Strategy - GUM's strategy and investment analysis director suggested that the anticipated Federal Reserve rate cut in September could benefit bond fund performance, recommending low-risk members to consider allocating to bonds for potential returns [1]