GUM released the market analysis report for the Trillions of MPF market in July 2024. As of July 31st, total assets in the Trillions of MPF market increased by 0.9% to 1.24 trillion Hong Kong dollars. GUM's strategy and investment analyst, Yun Tianhui, pointed out that from the beginning of the year until July, U.S. stock funds attracted 12.8 billion in funds, reflecting members' confidence in U.S. stocks. Additionally, the July stock market decline and expectations of interest rate cuts led investors to lean towards safer products such as bonds, with nearly 550 million funds flowing into global bond funds in July. Due to the uncertainty of the U.S. election and the risk of economic recession affecting the market, it is expected that the global market will be more volatile in the second half of the year. Members should remain cautious, appropriately diversify risks, and avoid excessive concentration in a single market. In July 2024, 5.2 billion Hong Kong dollars were invested in both "stock funds" and "fixed income funds," while 10.4 billion Hong Kong dollars were withdrawn from "mixed asset funds," marking the seventh consecutive month of outflows. This indicates that members have varying views on the market outlook, with a preference for stocks or fixed income funds emerging. In terms of market share, Manulife ranked first with a market share of 28%, followed by HSBC (17.7%) and Sun Life (10.8%) in second and third place respectively. Together with fourth and fifth place suppliers, AIA (9.1%) and BOC Life (7.3%), the top five suppliers collectively account for over 72% of the Trillions of MPF market. Since the beginning of 2024, driven by investment returns, there has been a noticeable increase in market share for Manulife and HSBC, with Manulife's market share rising by 0.33% and HSBC's by 0.1%. However, Sun Life's market share was dragged down by investment returns, leading to a decrease of 0.22%. Among the non-top five suppliers, the market share of Sun Hung Kai and BCT UnionPay saw significant declines, falling by 0.14% and 0.13% respectively.