Assets of Hong Kong Mandatory PF Reach $190 Billion

The Hong Kong Mandatory Provident Fund Authority (MPFA) has achieved record earnings of $26.5 billion in the first nine months of this year, pushing its total assets to $190 billion (with the provisional figure at $200 billion) for the first time as at end-September 2025, a milestone marking that the aggregate retirement reserves of over 4 million MPF scheme members have scaled new heights.

MPFA Chairperson Ayesha Macpherson Lau said that the total MPF assets surpassing the $190 billion is another significant milestone of the System. Within the increase in the total MPF assets so far this year, more than $26 billion were net investment returns.

“This underscores the ability of MPF to help the working population accumulate steadily retirement savings through regular contributions, continuous investments and compounding effect over time. Building on this solid foundation, we will continue to enhance the MPF System to provide better basic retirement protection for the working population,” she added.

Equity Fund and Mixed Assets Fund, which together accounted for close to 80% of total MPF assets, recorded average net returns of 18.8% and 10.6% respectively, over the previous 12 months, and registered average annualized net returns of 5.1% and 4.5% respectively since the inception of the MPF System.

Regarding Core Accumulation Fund under DIS, commonly called “funds for lazy people,” its average net return over the previous 12 months and average annualised net return since launch in 2017 were 9.8% and 6.8% respectively.

The average annualised net returns of the aforementioned fund types since the inception of the MPF System and the launch of DIS exceeded the annualised inflation rates for the respective periods (both at 1.8%).

Advise to Members

MPF is a long-term investment spanning over 40 years and reminds the scheme members that they should make sound personal investment plans based on their life stage, financial situation and risk-tolerance level, and should not adopt a short-term investment approach in managing their MPF or try to time the market.

Furthermore, the average investment returns of individual fund types are generalised statistical values, which serve only as broad reference.

MPF said that during the regular review of their portfolio, scheme members are advised to examine their investment objectives, risk class of individual funds, the fund expense ratios and performance over different time horizons etc., to build up a personalised MPF investment portfolio. Such information can be found in MPFA’s MPF Fund Platform, fund fact sheets, and information provided by individual MPF schemes and funds.

Scheme members, who lack the time or investment knowledge to manage their MPF, can consider DIS, which adopts a diversified investment approach by investing in global equity and bond markets, MPF said.

DIS also includes an “automatic de-risking” mechanism, which gradually reduces exposure to high-risk assets according to age, thereby effectively reducing investment risk. Moreover, the fee of funds under DIS is capped at 0.95% of the net asset value of the funds.

The cap will be further reduced to 0.85% after the respective MPF scheme joins the eMPF Platform, indirectly increasing investment returns, MPF added.