MPF’s “lucky” first half year result built on strong Asian equity performance

7^th July 2026

$88.8bn in year-to-date investment gains is good fortune for MPF members

MPF Ratings’ 2026 June MPF Performance Survey is now available.

Key points are as follows:

Despite a -1.45% June loss, MPF recorded a 7.81% Q2 2026 return, its best Q2 return since 2020, contributing to a first-half year return of 5.67%, the system’s 6th best first-half year performance since its inception in December 2000 (see Table 1).
While Asian equities produced a June loss of -1.17%, it still emerged as MPF’s best-performing asset class in Q2 and in the first half of 2026, with a 27.17% and 27.93% respective return (as measured by MPF Ratings’ MPFR Index – Equity Fund (Asia)), its 2nd best quarterly and best ever first six-month results.
Despite June’s investment loss, the system still produced a respective Q2 and year-to-date investment gain of $119.9bn and $88.8bn (or $25,000 and $18,500 per MPF’s 4.79m members. 2026’s year-to-date investment gain of $88.8bn is MPF’s 2nd largest first six-month investment gain on record.
Total MPF assets inclusive of contributions will end June at approximately $1.67tr (up $131.3bn for Q2 and up $112.1bn year-to-date), and equivalent to an average MPF account balance of $347,500 (up $27,388 in Q2, and up $23,380 for year-to-date).

Francis Chung (叢川普), Chairman of MPF Ratings Ltd, Hong Kong’s independent provider of MPF research, insights, and education, today released MPF Ratings’ 2026 June MPF Performance Survey by revealing that the MPF system delivered approximately $88.8bn in investment earnings in the first half of 2026, equivalent to an average of approximately $18,500 per MPF’s 4.79m members, and the 2nd largest year-to-date gain since MPF’s inception. The combination of investment gains plus contributions sees the system at an asset size of $1.67tr, equivalent to an average account balance of approximately $347,500 per member, and up 7.21% since the end of 2025.

Quotes:

$88.8bn in investment gains so far in 2026, what will MPF’s lucky numbers mean for MPF members in the 2^nd half of 2026?

“According to the Chinese, ‘8’ is a lucky number. MPF has delivered $88.8bn in investment gains in the first half of this year, luck, luck and more luck for members. If MPF can replicate its first half result in the 2^nd half of 2026, MPF members will be well satisfied with the result.”

The foundation of MPF’s ‘lucky’ run has been built on Asian equities’ record result

“The foundation of MPF’s strong first half result has been laid by outstanding gains in the technology heavy Korean and Taiwan markets with Asian equities delivering a return of 27.93%, its strongest first-half performance on record.”

MPF largest and fastest growing asset classes disappointed in June, impacting their overall contribution to MPF’s year-to-date investment gains

“US, and Hong Kong and China equities, historically amongst MPF’s most popular and largest equity asset classes were some of June’s worst performers, impacting their overall contribution to MPF’s total year-to-date investment gains, however, such short-term results only serve to highlight the importance of long term investing and diversification, reinforcing our view that the MPFA mandated low Default Investment Strategy (DIS) funds remain an excellent option for MPF members to consider.”

Table 1: MPF Ratings’ MPFR Index returns by asset class (as of 30^th June 2026)