The Mandatory Provident Fund (MPF) compliance rate has grown steadily over the past few months, according to statistical data released by Hong Kong's Mandatory Provident Fund Schemes Authority (MPFA).
As at the end of May 2001, 86% of employers, 93% of employees, and 90% of self-employed persons have enrolled into MPF schemes. The aggregate net asset values of all schemes amounted to $22.396bn, including assets transferred from ORSO schemes to MPF schemes.
Amongst this $22.396bn, 45% has been invested in balanced funds, 22% in guaranteed funds, 17% in equity funds, 13% in capital preservation funds, 2% in money market funds and 1% in bond funds. Compared with the end of February, the percentage share of aggregate net asset values for guaranteed and equity funds have gone up one and two percentage points respectively.
Statistics released also include the asset allocation of approved constituent funds by geographical region. As at March 31, 60% of the total assets of all constituent funds, or about $9.4bn, has been invested in the local financial market. Investments in other markets were: North America (16%), Europe (13%), Asia (excluding Hong Kong) (9%) and others (2%).
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