GUM: The total assets in the Hong Kong Mandatory Provident Fund market in January fell by 1.7% to HK$1.12 trillion.

Trillions of MPF advisor GUM released the market share report for the Hong Kong Trillions of MPF market in January 2024 today. The total assets of the Hong Kong Trillions of MPF market in January decreased by 1.7% to HKD 1.12 trillion. In terms of market share, Manulife still leads with a share of 27.9%, followed by HSBC with 17.6% and AIA with 10.9%. Among them, Manulife's market share saw a significant increase of 0.18% compared to the previous month, mainly driven by investment returns. AIA's market share, on the other hand, decreased by 0.16%. In January 2024, HKD 1.35 billion was transferred into "stock funds", while HKD 1.1 billion and HKD 250 million were transferred out of "mixed asset funds" and "fixed income funds" respectively. This may be due to the strong performance of global stock markets in 2023, attracting many investors to move funds into "stock funds". GUM strategist and analyst Yun Tianhui pointed out that there were divergences in performance among different markets in 2023. From the fund conversion results in January 2024, it can be seen that members prefer fund categories with better performance from the previous year, such as "US stock funds" and "preset investment strategy-core accumulation funds". However, last month's US inflation data exceeded expectations, leading to a decrease in first-quarter rate cut expectations, and there is a chance for fund volatility to increase. As a long-term retirement investment, members of Trillions of MPF should view it from a long-term investment perspective and not try to predict the best entry timing to chase market fluctuations.