Hong Kong Pensions See Record Plunge of 22% – SCMP
The territory’s Mandatory Provision Fund lost $32.98 billion, equating to $7,197.63 per person, the South China Morning Post reported
Hong Kong’s pension fund lost 21.5% on average in the first nine months of the year, its worst performance in 22 years, The South China Morning Post reported.
The country’s Mandatory Provision Fund (MPF) lost $32.98 billion, equating to $7,197.63 per person, said the report. Analysts attributed the loss to the plunge in stock markets in Hong Kong and on mainland China, which have fallen significantly this year, but they said these markets may rebound in the fourth quarter.
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