MPF Ratings: Hong Kong MPF investments lost 2.56% in October, with an average loss of HK$8,671 per person

MPF Ratings, the research institution for Hong Kong's Mandatory Provident Fund, published a report stating that MPF recorded an investment loss of 2.56% in October, bringing the year-to-date return down to 3.48%, marking the first consecutive two-month decline for the MPF system since March and April 2025. MPF recorded an investment loss of 2.56% in October, equivalent to a monthly investment loss of HK$43.1 billion (HKD, same below), or an average loss of HK$8,671 per member, bringing the system's year-to-date investment income down to HK$53.9 billion, or an average gain of HK$11,490 per person. At the asset class level, weakening optimism around artificial intelligence led to a significant pullback in global and regional equity market returns. Asian equities and Hong Kong and China equities were particularly affected, with Hong Kong and China equities having become the worst-performing asset class for MPF in 2026, and by a notable margin. Other equity fund categories, with a return of 8.56%, became the best-performing fund category for MPF in October, leading by a wide margin. The Manulife MPF Health Care Fund rose 9.49% this month, accounting for approximately 90% of the other equity fund category. After accounting for contributions and investment performance, total MPF assets stood at HK$1.644 trillion at the end of October, down HK$40.1 billion from the end of September, equivalent to an average account balance of HK$330,861 per member, the sixth-highest average account balance in MPF history.