After a successful 2024, open funds started 2025 on a less favorable note, losing their momentum and underperforming the VN-Index. Most funds reported losses, while FPT shares, which were a key driver last year, have stagnated and sharply declined under profit-taking pressure. Successful funds like MBVF and BVFED did not invest in FPT, demonstrating the negative impact from this stock. Moreover, Vingroup stocks were also absent from many funds, although they significantly contributed to the VN-Index with a recent growth of 30-40%. Flexibility in portfolio restructuring is essential to improve the performance of these funds. Despite short-term challenges, the long-term outlook for Vietnam’s stock market remains positive due to stable macroeconomic fundamentals and the profit growth potential of companies.
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