---
title: "GUM: In March, the total assets of the Mandatory Provident Fund fell by nearly HKD 96 billion, while members increased their holdings in Japanese stock funds amid the turmoil"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283123828.md"
description: "As of March 31, the total assets of the Mandatory Provident Fund (MPF) market fell by 5.9% due to the impact of the US-Iran conflict, decreasing to HKD 1.53 trillion, a monthly reduction of nearly HKD 96 billion. Members' risk aversion sentiment surged, with net outflows of approximately HKD 4.48 billion from equity fund categories, with the most significant outflows from Hong Kong and Greater China equity funds. Fixed income funds saw net inflows of HKD 5.68 billion, primarily flowing into conservative funds and guaranteed funds. Notably, Japanese equity funds were the only equity funds to record net inflows, achieving net inflows for three consecutive months"
datetime: "2026-04-17T09:53:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283123828.md)
  - [en](https://longbridge.com/en/news/283123828.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283123828.md)
---

# GUM: In March, the total assets of the Mandatory Provident Fund fell by nearly HKD 96 billion, while members increased their holdings in Japanese stock funds amid the turmoil

The GUM report indicates that as of March 31, the total assets of the Mandatory Provident Fund (MPF) market fell by 5.9% to HKD 1.53 trillion, primarily due to the impact of the US-Iran conflict, resulting in a monthly decline of nearly HKD 96 billion.

During the period, MPF members exhibited heightened risk aversion, with an estimated net outflow of approximately HKD 4.48 billion from equity funds, marking the month with the highest net outflow since last year's "Liberation Day" related to Trump's tariffs. Among these, the net outflow was largest from Hong Kong equity funds (including index tracking funds) and Greater China equity funds, while mixed asset funds saw an estimated net outflow of about HKD 1.2 billion.

On the other hand, fixed income funds experienced an estimated net inflow of HKD 5.68 billion, making it the month with the highest net inflow since "Liberation Day," primarily flowing into the conservative funds and guaranteed funds categories of the MPF. Notably, Japanese equity funds were the only equity funds to record a net inflow in March, marking three consecutive months of net inflows this year

### Related Stocks

- [7500.JP](https://longbridge.com/en/quote/7500.JP.md)
- [3088.JP](https://longbridge.com/en/quote/3088.JP.md)

## Related News & Research

- [Japan's bond yield curve steepens on caution ahead of auction, fiscal spending worries](https://longbridge.com/en/news/281742856.md)
- [Trump eases bank citizenship data plan after industry pushback](https://longbridge.com/en/news/287056926.md)
- [Prabhudas Lilladher Sticks to Its Buy Rating for Kalpataru Projects International Limited (KPIL)](https://longbridge.com/en/news/286845414.md)
- [With EPS Growth And More, Craftsman Automation (NSE:CRAFTSMAN) Makes An Interesting Case](https://longbridge.com/en/news/286700788.md)
- [14:00 ETPHARMACISTS MUTUAL ANNOUNCES BOARD TRANSITIONS, HONORS RETIRING DIRECTORS AND WELCOMES NEW MEMBERS](https://longbridge.com/en/news/286599464.md)