Manulife and Sun Life funds attract most MPF contributions

15 January 2021

2020’s top 10 most popular MPF funds suggests MPF investors are investing opportunistically

MPF Ratings’ December MPF Asset Class Fund Flows Summary has now been uploaded to MPF Ratings’ website.

Key points are as follows:

  • MPF attracted $4.381bn in net inflows in December to reach an all-time high asset size of HK$1.139 trillion by the end of 2020 (See Table 1).
  • While the MPF Conservative Fund category attracted the highest amount of net-inflows for calendar year 2020, in the month of December it ranked last while the Hong Kong and China equity fund category ranked 1st, a complete reversal from November suggesting some MPF members continue to use MPF to trade opportunistically (See Table 1).
  • MPF’s first post retirement product, Manulife’s newly launched MPF Retirement Income Fund, enjoyed a positive start ranking amongst the top 10 inflow winners in the month of December (See Table 2).
  • Sun Life Rainbow’s Hong Kong and Greater China Equity Funds attracted the biggest share of MPF fund flows in December (See Table 2).
  • Manulife’s Healthcare Fund attracted the most MPF contributions throughout 2020 as Manulife and Sun Life funds dominated MPF fund flows for the 2020 year (See Table 3).

Francis Chung (叢川普), Chairman of independent MPF specialist research group MPF Ratings, said they saw both concerning and positive aspects within the December MPF fund flow data, “On one hand we continue to see MPF members chasing equity markets and trading opportunistically, in segments such as Healthcare, at the expense of diversified mixed-asset investing, but on the other hand it is pleasing to see strong immediate demand for Manulife’s Retirement Income Fund, MPF’s first post retirement and regular income focused product,” adding, “As Hong Kong’s population ages there will be greater needs for post retirement products. Diversification and regular income are crucial to a sustainable and enjoyable retirement. Doubtless we will see more post retirement focused products from the MPF industry in the near future to meet the needs of Hong Kong retirees.”

Table 1: MPF Assets and MPF Fund Flows as at 31 December 2020 (by Fund Types)

Source: MPF Ratings

Table 2: Top 10 net inflow winners in the month of December 2020

Source: MPF Ratings

Table 3: Top 10 net inflow winners for 2020 calendar year

Source: MPF Ratings

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