Hong Kong’s Mandatory Provident Fund market was dominated in the first quarter by Manulife Provident Funds Trust and Sun Life Financial, which drew a combined 87% of the HK$11.26 billion (US$1.44 billion) of net inflow, according to local investment consultancy MPF Ratings Ltd. The total inflow, which was down from HK$13.45 billion in the first quarter of 2020, increased the assets of Hong Kong’s largest public retirement scheme to HK$1.17 trillion as of March 2021 from HK$1.14 trillion at the end of 2020, MPF Ratings says in a report on April 17. Manulife – which recently dethroned HSBC as the largest MPF provider – and Sun Life were the only ones with double-digit shares of inflow in the three months to March 31. Six firms, including HSBC, registered net outflows.