25th July 2025
But which sponsors are delivering the earnings?
Key points are as follows:
- An estimated monthly gain of 1.81% in July is set to add to MPF’s record growth according to MPF Ratings, Hong Kong’s leading and independent provider of MPF research, views and education.
- In absolute dollar terms, July could see an investment gain of approximately $25.80bn (or $5,380 per MPF’s 4.79m members).
- In the half of 2025, MPF generated a total investment gain of $115.39bn which underpinned MPF’s June record asset size of $1.429tr.
- Almost 2/3rds of MPF’s 2025 investment gains can be attributed to 4 sponsors. (See table 1)
- Total MPF assets inclusive of contributions could end July at another record high of approximately $1.458tr (up $29.80bn from June) and equivalent to an average MPF account balance of $304,550 (up approximately $6,220 from June).
Francis Chung (叢川普), Chairman of MPF Ratings Ltd, Hong Kong’s independent provider of MPF research, views and education today announced that he expects MPF average member account balances to exceed $300,000 at the end of July for the first time in MPF’s history.
According to Mr. Chung, the MPF system is forecasted to produce a July investment gain of approximately 1.81%, an absolute dollar estimated equivalent of $25.80bn, or $5,380 for MPF’s 4.79m members. Inclusive of contributions, MPF could end July at approximately $1.458tr which would continue MPF’s record run of new highs.
Quotes:
$300,000 average MPF account balance, a record built on earnings
“Earnings have driven MPF’s historic run. We expect the average MPF member account balance to exceed $300,000 for the first time ever by the end of July. This record has been built on earnings strength, with approximately 83% of MPF’s total growth coming from investment earnings so far this year.”
‘The Fantastic 4’ – Almost 2/3rds of MPF’s 2025 investment earnings are accounted for by 4 sponsors
“The first half of 2025 saw MPF achieve $115bn in earnings. July should see approximately $25.80bn added to this bounty, and notably, the gains appear to be largely concentrated amongst four sponsors, AIA, HSBC, Manulife and Sun Life who are making a name for themselves as MPF’s ‘Fantastic 4’”.
Key message to MPF members – Treasure MPF, it’s ‘the people’s gold’
“It’s time for Hong Kong people to take their MPF seriously. $300,000 is a material amount of money, enough to buy 11 ounces of gold. Hong Kong people prize the value of gold, and MPF should be no different. Treasure it. At $300,000, MPF is now ‘the people’s gold’.”
Table 1: Year-to-date investment gain ranked by MPF sponsor market share (as at 30th June 2025)
Source: MPF Ratings
