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The MPFA today (4 July) released the provisional data on MPF investment returns as at the end of June 2025. The provisional figures by fund type are as follows:

<sub>Notes: 
* Return figures are net of fee and charges.</sub>

_{**  The annualized inflation rates since the inception of the MPF System and over the past 10 years were both 1.8%; the inflation rate over the past 12 months was 1.9% (inflation rates based on data up to May 2025).}

_{@ “Highest” and “Lowest” refers to the highest and lowest annualized net return among individual funds in each fund type during the relevant period respectively.}

_{# Return figures involve less than 5 constituent funds, and should be interpreted with caution.}

_{^ Assuming that the scheme member had fulfilled the guarantee or qualifying conditions of a guaranteed fund, hence the actual investment return for the scheme member would be no less than the guaranteed rate of return.}

_{Percentages may not sum up to 100% due to rounding.}

<sub>Notes: 
* Return figures are net of fee and charges.
**  The annualized inflation rates since the launch of DIS and over the past 5 years were 1.7% and 1.5% respectively; the inflation rate over the past 12 months was 1.9% (inflation rates based on data up to May 2025).
@ “Highest” and “Lowest” refers to the highest and lowest annualized net return among individual funds in each fund type during the relevant period respectively.</sub>

An MPFA spokesperson said that Equity Fund and Mixed Asset Fund, which together accounted for close to 80% of total MPF assets, recorded average net returns of 19.3% and 12.5% respectively, over the previous 12 months, and registered average annualized net returns of 4.7% and 4.3% since the inception of the MPF System. Regarding Core Accumulation Fund (CAF) under the default investment strategy (DIS), its average net return over the previous 12 months and average annualized net return since launch in 2017 were 10.5% and 6.5% respectively. The average annualized net returns of the aforementioned funds since the inception of the MPF System and the launch of DIS (for CAF) exceeded the annualized inflation rates for the respective periods (at 1.8% and 1.7% respectively). 

The MPFA reminded scheme members that the MPF is a long-term investment, spanning over 40 years, therefore they should make sound personal investment plans based on their life stage, financial situation and risk-tolerance level. Scheme members 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 generalized statistical values, which can serve only as general reference. During the regular review of their MPF 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 personalized MPF investment portfolio. Such information can be found in the fund fact sheets, information provided by individual MPF schemes and funds, and the MPFA’s MPF Fund Platform. 

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.  DIS also includes an “automatic de-risking” mechanism, which gradually reduces exposure to high-risk assets according to age, thereby effectively reducing investment risk. The fee of funds under DIS is, moreover, 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 increases investment returns.

– Ends – 

4 July 2025