GUM has released its August performance figures for the Mandatory Provident Fund (MPF) schemes. In August 2026, the "GUM MPF Composite Index" advanced 1.5% to close at 308.7 points. The overall MPF system recorded positive growth for the month, with an average gain of HK$4,933 per member, bringing the year-to-date average profit to HK$25,335 per person.

Within the equity categories, the GUM MPF Equity Fund Index posted a monthly return of 1.8%. The rebound in AI supply chain themes lifted stock markets across Japan, Korea, and Taiwan, propelling Asian equity funds up by 3.5%—the strongest performance among all equity fund categories for the month. These funds have now delivered a year-to-date return of 25.6%, maintaining their leading position. Japanese equity funds followed closely in second place, gaining 3.4%.

Conversely, Hong Kong stocks gave back some gains following a sharp rally in July. Major Hong Kong and mainland Chinese tech companies came under pressure from earnings concerns tied to "high investment with slower-than-expected returns." As a result, Hong Kong equity funds (tracking indices) and general Hong Kong equity funds declined by 1.1% and 0.7%, respectively, making them the weakest-performing equity fund types for the month. Their year-to-date returns stand at just 0.5% and -0.1%.

GUM's Chief Investment Officer, Lau Ka Hung, noted that capital has been rotating across different regions and markets over the past several months, a trend expected to persist into September. Overall, despite a clear direction of rising interest rates, the fundamentals of the global economy remain solid. As such, the firm continues to favour equity assets, though it maintains a neutral stance on any single market. Markets are anticipated to trade within a narrow range while grinding gradually higher, with globally diversified equity funds—which offer built-in diversification—expected to hold an edge in this "rotation-driven" market environment.