GUM: Nearly 8.2 billion yuan of funds flowed into low-risk assets for hedging, with some members positioning themselves early
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GUM released the Mandatory Provident Fund market analysis report for August 2024, showing that as of August 31st, total market assets rose by 2% to HKD 1.26 trillion. HKD 81.9 billion flowed into low-risk assets, mainly from equity funds, reflecting investors' preference for safe-haven assets due to expectations of a US economic recession and Fed rate cuts. Yuntianhui pointed out that the market expects the Fed to cut rates in September, with some members positioning themselves early to lock in profits and adjust bond allocations
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