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MPFA Managing Director Mr Cheng Yan-chee was interviewed by TVB’s programme “Finance Magazine”, responding to the MPF performance amid recent market volatility and the suggestions by Hong Kong Investment Funds Association (HKIFA) regarding the development of MPF. The interview was aired on “Finance Magazine” and TVB finance news programme respectively on 6 November.

Mr Cheng mentioned that the MPFA has all along maintained contact with the industry and been in discussion with them about expanding the MPF investment scopes, citing the example of the completion of legislative amendments to facilitate MPF to invest in bonds issued by the Central People’s Government, the People’s Bank of China and the three Mainland Policy banks in June 2022. Mr Cheng added that, when reviewing MPF funds applications, the MPFA would assess whether the proposals are in the interest of scheme members while balancing risk and returns.

Regarding recent MPF performance, Mr Cheng reiterated that MPF is a long-term investment and advised scheme members not to time the market amid the market volatility. He pointed out that a majority of employees’ contributions were invested in growth funds which had reported negative returns in the past year, but from a longer term perspective, both Equity Funds and Mixed Assets Funds grew more than doubled since the inception of the MPF System.

View the full interview (in Chinese only):

https://news.tvb.com/tc/programme/financemagazine/63674687c0030affaeb0e093?utm_source=newswebshare&utm_medium=referral