GUM strategy and investment analyst Yun Tianhui pointed out, "US stock funds attracted 4.8 billion Hong Kong dollars in a single month, reaching 17.8 billion Hong Kong dollars since the beginning of the year, mainly due to the US stock market repeatedly hitting new highs and market expectations that Trump can continue to implement policies to support the US stock market. On the contrary, since October, the trends and trading volumes in the Hong Kong and mainland markets have weakened, leading to outflows of funds from funds related to the Greater China/Hong Kong market. When members are making Trillions of MPF investments, they should avoid over-concentration in a single market and allocate different asset classes rationally based on their own risk tolerance." GUM released the November 2024 Trillions of MPF market analysis report. As of the end of November, total assets in the Trillions of MPF market increased by 0.5% to 1.3 trillion Hong Kong dollars. In terms of market share, Manulife ranks first with a market share of 27.9%, followed by HSBC (17.8%) and AIA (10.9%) in second and third place respectively. Together with fourth and fifth place suppliers AIA (9.1%) and BOCHK (7.4%), the top five suppliers account for over 73.1% of the Trillions of MPF market. Since the beginning of 2024, Manulife has seen the most significant increase in market share, rising by 0.25%, mainly driven by net inflows. The biggest decrease in market share was for Sun Life, dropping by 0.23%, mainly due to net outflows. The asset rotation of Trillions of MPF members in November decreased compared to the previous three months, with the direction of conversion still mainly towards stocks, similar to October. Despite events such as the (US) presidential election and escalation of conflicts in Ukraine and the Middle East in November, the market investment sentiment remains positive, with funds continuing to flow into stock funds. The net inflow of stock funds in November was approximately 1 billion Hong Kong dollars, with funds mainly coming from the outflow of mixed assets (approximately 840 million Hong Kong dollars), while fixed income funds saw a slight outflow of approximately 160 million Hong Kong dollars. The main reason is believed to be that the market expects the pace of interest rate cuts to slow down, reducing the attractiveness of bond fund categories. The top five asset categories with the highest net outflows in November were "Greater China stock funds", "Hong Kong stock funds", "Asia stock funds", "mixed asset funds (80-100% stocks)", and "mixed asset funds (60-80% stocks)". Since the beginning of the year, the highest net outflows were seen in "Hong Kong stock funds" and "mixed asset funds (80% to 100% stocks)", reaching 9.1 billion and 8.2 billion Hong Kong dollars respectively. On the other hand, the top five asset categories with the highest net inflows in November were "US stock funds", "pre-set investment strategy-core accumulation funds", "Trillions of MPF conservative funds", "pre-set investment strategy-after 65 years old funds", and "global stock funds". Among them, "US stock funds" have been flowing in positively for the third consecutive month in November, with a total inflow of approximately 17.8 billion Hong Kong dollars since the beginning of the year, making it the fund with the highest inflow among Trillions of MPF types; followed by "pre-set investment strategy-core accumulation funds", which has seen a total inflow of approximately 7.8 billion Hong Kong dollars this year.