Open funds in Vietnam started 2025 poorly despite a rising market, with many even recording losses. In 2024, most funds outperformed the VN-Index, but currently, they are underperforming, primarily due to the declining price of FPT stock, prevalent in many funds and showing a declining trend since early 2025. On the contrary, the best-performing funds like MBVF and BVFED did not invest in FPT. Additionally, the absence of Vingroup stocks also negatively impacted overall performance, as VIC and VHM significantly contributed to the VN-Index. The losses of open funds are mainly due to profit-taking pressure and global economic instability. Nevertheless, long-term prospects remain promising due to the government’s economic policies and corporate profit growth, which will likely improve capital attraction for open funds in the future.
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