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MPFA today (6 January) announced that MPF recorded an overall net return of 16.5% in 2025 according to the latest official provisional data, which is the third consecutive year of positive return (after 8.6% in 2024 and 3.4% in 2023). All MPF fund types, including Equity Fund, Mixed Assets Fund, Bond Fund, Guaranteed Fund, MPF Conservative Fund and Money Market Fund (other than MPF Conservative Fund), posted positive returns over the past year. Benefiting from the robust investment performance, the total MPF assets rose to approximately $1,550 billion as at end December 2025, marking another historic high. 

The provisional figures on returns by MPF fund type as at end December 2025 are as follows:

<sub>Notes: 
* Return figures are net of fee and charges.
**  The annualized inflation rates since the inception of the MPF System and since the launch of DIS were both 1.8%; the annualized inflation rates over the past 10 years and over the past 5 years were 1.7% and 1.8% respectively; the inflation rate over the past 12 months was 1.2% (inflation rates are figures up to November 2025).
@ “Highest” and “Lowest” refer to the highest and lowest annualized net returns among individual funds in each fund type during the relevant period respectively.
§  Annualized change of less than 0.05%^.</sub>

Since the inception of the MPF System, Equity Fund and Mixed Assets Fund, which together accounted for 80% of the total MPF assets, registered average annualized net returns of 5.0% and 4.5% respectively, outperforming the annualized inflation rate of 1.8% over the same period. Regarding Core Accumulation Fund under DIS, commonly called “funds for lazy people”, its average annualized net return since launch in 2017 was 6.9%, which also outperformed the annualized inflation rate for the period at 1.8%. 

MPFA reminds MPF scheme members that MPF is a long-term investment spanning more than 40 years, and they should avoid adopting a short-term investment approach in managing their MPF or attempting to time the market. Scheme members are encouraged to make sound personal investment plans based on their life stage, financial situation, risk-tolerance, etc. 

Furthermore, the average returns of individual fund types are generalized statistical values, which serve only as broad 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 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. DIS adopts a diversified approach by investing in global equity and bond markets and features an “automatic de-risking” mechanism, which effectively mitigates investment risk. Moreover, the fees of funds under DIS are capped at 0.85% of the net asset value of the funds for MPF schemes that have joined the eMPF Platform.

– Ends – 
6 January 2026