GUM released the market analysis report of Trillions of MPF for April 2026. As of April 30th, the total assets of the Trillions of MPF market surged by 6.4% to HK$1.63 trillion after a significant pullback in March, benefiting from the strong rebound in global stock markets. In April, the conversion activities of Trillions of MPF noticeably cooled down, with the scale of fund conversion narrowing significantly compared to March. It is estimated that around HK$390 million was netted out from equity funds, mainly from the outflow of Asian and Hong Kong regional equity funds, partially offset by the net inflow into US equity funds. Mixed asset funds saw a net inflow of approximately HK$650 million, mainly flowing into two preset investment strategy funds. Fixed income funds, on the other hand, recorded a net outflow of approximately HK$260 million, mainly from the conservative funds and guaranteed funds of Trillions of MPF, reflecting a decline in members' risk aversion sentiment compared to March. GUM's director of strategy and investment analysis, Yun Tianhui, commented that while global markets saw a strong rebound in April, the conversion activities of Trillions of MPF noticeably cooled down, with members not returning to equity funds despite the upward trend. However, the preference for US stock funds among members remains, with a net inflow of nearly HK$2 billion in a single month. He also emphasized that Trillions of MPF is a long-term investment and urged members not to overly convert funds due to short-term market fluctuations.