The net asset value of Mandatory Provident Funds reached HK$1.029 trillion, as of end-October, data from Gain Miles show. The average management fee of over 400 funds was 1.45 percent, according to the MPF Schemes Authority. Based on the above data, 18 MPF providers collected HK$14.9 billion in fees. The top five MPF managers accounted for 69 percent of the market share, meaning that they collected around HK$10.3 billion.

Source: The Standard November 24, 2020 10:52 UTC