Convoy MPF Index falls 3.47% m-o-m

    The Convoy MPF Composite Index decreased by 3.47% month-on-month in June to 206.73. The Equity Index dropped by 5.14% to 217.35. Both indices recorded the largest drop within a single month since June 2013. The Bond Index was also down by 0.66% to 152.56, representing the second consecutive month of decline, according to the Investment Research Department of Convoy Financial.
  In examining the performance of MPF funds during the first half year, the South Korean equity fund performed best. Its growth reached 36.38% and 4.71% during the first half year and within June respectively. The fund's performance had not been affected by the outbreak of the Middle East respiratory syndrome (MERS) - also referred to as the new SARS - in South Korea.
  The growth of the Convoy MPF Composite Index during the first half year was 8.21%, the most satisfactory growth rate during the first half of a particular year since 2009.
  Therefore, Hong Kong people have earned a relatively favourable return during this year. Assuming that Hong Kong has a labour force of 3.8 million; total assets in June of HK$568.2 billion when compared to HK$525.8 billion in January of this year; and the median monthly wage of all men and women during the first quarter of this year is HK$14,000 - according to data released by the Census and Statistics Department - each employee earned an average of HK$6,949.