Mercer released its Q3 Mandatory Provident Fund (MPF)

Mercer released its Q3 Mandatory Provident Fund (MPF)

Mercer announces the latest MPF Market Shares Report, as Hong Kong MPF assets increased to $858 billion in Q3

  • 19 November 2018 / 2018年11月19日
  • Hong Kong, Hong Kong

Mercer today released its Q3 Mandatory Provident Fund (MPF) Market Shares Report as at 30 September 2018. Total assets under management (“AUM”) in the MPF system increased from HK$ 852 billion of Q2 to HK$ 858.2 billion this quarter, a net increase of HK$ 6.2 billion, or +0.7%.

HSBC / Hang Seng (27.2% combined) remains the largest provider in terms of size of assets, followed by Manulife (23.0%) and AIA (9.3%).

Overall, the MPF system lost HK$ 6.1 billion during the period due to investment performance, despite net inflows (contributions received less benefits paid) of HK$ 12.3 billion. Manulife has taken up the largest share (36.5%) of the net inflows in the quarter, followed by Sun Life (23.5%), which explains their steady growth in market share in Q3.

Positive net inflows to lower risk sectors and DIS funds

In this quarter, there was also a positive net inflow into lower risk sectors such as bond funds, cash funds and the Default Investment Strategy (DIS) funds, which together made up over 60% of total net inflows.

There were continuous net fund inflows into DIS funds and its percentage of total net fund inflows was higher than the previous quarter. This has gradually increased the proportion of DIS funds in the total MPF AUM to 3.5%.

“With increasing volatility in global stock markets in Q3, there is a general risk-off sentiment in markets. It has led some MPF members to switch to low-risk funds in order to fend off the market downturn,” said Billy Wong, Mercer’s Health & MPF Business Leader, Hong Kong.

“However, MPF members should remember that MPF is a long-term investment with regular contributions over time, and our advice would be to avoid redeeming a fund because of market movements and predictions. Members should review their MPF investment regularly to ensure that it is in line with their investment objectives, preferred asset allocation and risk tolerance level,” Mr Wong added.

Overall MPF Satisfaction Index levels remain relatively static

The Mercer MPF Satisfaction Index (MPF SI) recorded a score of 48.9 in October 2018, up from 46.9 in September.

During the past year (Nov 17- Oct 18) the Hang Seng index has fallen 16% (at an average monthly fall of 1.3%), however MPF satisfaction levels have hovered consistently around 50 out of 100 over time.

“A positive return is not the only factor contributing to MPF member satisfaction levels. We believe engagement is the key driver in MPF satisfaction levels and as such we encourage MPF members to review their portfolios at least once a year and eventually they will feel more satisfied about the scheme,” said Mr Wong.

 

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Note to editors

The Mercer MPF SI was conducted by Nielsen to track the satisfaction level of MPF members. The survey interviews more than 2000 respondents per year who are among the working population with MPF and whose monthly personal income is not less than HKD 7,100 (minimum threshold eligible for MPF membership). The survey was conducted through methods of online self-completion (age 20 – 54) and offline street intercept (age 55 or above).

The service level comparison is based on data collected from Mercer MPF SI results, in which the providers are ranked based on the average satisfaction score as indicated by survey participants for 12 months ending June 30, 2018. Due to the uneven distribution of survey participants among the different providers, any provider with less than 1% of the total survey participant population will not be included in the results.

 

About Mercer

Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. Marsh & McLennan Companies is also the parent company of Marsh,which advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions;Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; and Oliver Wyman, which serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.

 

 

美世公佈最新強積金市場份額報告 本港第三季強積金總資產增至逾8580億港元

美世(Mercer)公佈截至2018年9月30日止,第三季《美世強積金市場份額》報告。本港強積金總資產由第二季的8520億港元,增加至第三季的8582億港元,按季增加62億港元,或0.7%。

滙豐 / 恒生(市佔率合計27.2%)仍然是資產規模最大的強積金營辦商,其次是宏利(23.0%)及友邦(9.3%)。

總體而言,雖然季內本港強積金錄得淨流入(已收供款減去已支付權益)123億港元,但受到投資表現影響,當中61億港元被抵銷。 單計第三季淨流入金額,宏利佔當中最大份額(36.5%),其次是永明(23.5%),促使上述兩家強積金營辦商的市佔率在季內穩步增長。

資金流入低風險基金及預設投資策略(DIS)

 

債券基金、貨幣基金及DIS基金等低風險資產於季內錄得淨流入,上述基金類別佔強積金淨流入總額60%以上。

DIS佔強積金淨流入總額的比例按季上升,隨著資金持續淨流入DIS,DIS佔強積金總資產的比例於第三季逐步提高至3.5%。

美世(香港)健康福利及強積金業務部總經理王玉麟先生表示:「隨著第三季全球股市波動加劇,市場普遍充斥避險情緒,以致部份強積金成員轉倉至低風險基金,以抵禦市場震盪。」

王玉麟先生續指:「不過,強積金成員需緊記強積金是定期供款的長期投資。我們建議成員應避免因市場波動或市況預測而轉換基金,而是應定期檢討其強積金投資策略,以確保符合自己的投資目標、資產配置偏好及風險承受水平。」

整體強積金滿意指數持續靠穩

美世強積金滿意指數(MPF SI)於2018年10月錄得48.9,較9月份所錄的46.9輕微上升。

今年以來恒生指數已累跌16%(平均每月跌幅為1.3%),但強積金的滿意度在100為滿分的情況下,繼續保持在約50水平。

王玉麟先生表示:「投資正回報並非影響成員對強積金滿意度的唯一因素。我們相信參與度才是提升強積金滿意度的主要動力,因此我們鼓勵強積金成員至少每年檢討投資組合一次,從而提升對計劃的滿意度。」

 

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編輯垂注

美世強積金滿意指數由尼爾森(Nielsen) 進行訪問,以追蹤市民對強積金的滿意程度。調查每年訪問2000多位擁有強積金帳戶、並每月入息不少於港幣7,100元(符合強積金成員供款的最低門檻)的在職人士。調查透過網上自行填寫(20–54歲)及街頭訪問(55歲或以上)方式進行。

根據美世強積金滿意指數(MPF SI)數據所作出的營辦商服務水平比較中,營辦商滿意度排名是根據指數於2018年6月底止12個月,受訪者給予營辦商的平均滿意度得分所計算。由於各大營辦商的受訪者佔比並非均等,若營辦商的受訪者佔比低於1%,則將不包括在調查當中。

關於美世

美世通過諮詢建議和技術驅動的解決方案協助企業滿足其變化不斷的工作團隊的健康、財富和職業發展需求。美世在全球超過 130 多個國家開展業務營運,擁有逾 23,000 名僱員,分佈於 44 個國家。美世是威達信集團(Marsh & McLennan Companies,紐交所代碼:MMC)的全資子公司。威達信集團是一家全球性,提供風險、戰略與人力資本相關專業服務的國際集團公司,在全球擁有將近 65,000 名僱員,年收入逾 140 億美元。威達信集團同時也是達信(Marsh)佳達(Guy Carpenter)、和奧緯(Oliver Wyman)等市場領先公司的母公司。威達信協助客戶應對日益變化和複雜的商業環境。如需更多資訊,請瀏覽 www.mercer.com,或在 Twitter 上關注美世 @Mercer

 

 

 

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