Vietnam’s Open-End Funds Attract Strong Net Inflows in 2024
In 2024, Vietnam’s Open-End Fund (OEF) market recorded net inflows of VND 22.673 trillion, marking a sharp contrast to the continued net outflows from exchange-traded funds (ETFs). Of this total, bond funds accounted for VND 12.875 trillion, while equity funds contributed VND 9.160 trillion.
Leading Funds by Net Inflow
TCBF (Techcom Capital Bond Fund): VND 10.724 trillion
VFMVSF (Dragon Capital Equity Fund): VND 2.618 trillion
VMEEF (VinaCapital Modern Economy Equity Fund): VND 1.421 trillion
The TCBF Open-End Bond Fund led the market with a net inflow of 10.724 trillion VND.
Equity Open-End Funds
Despite persistent sell-offs in listed ETFs, equity OEFs continued to attract capital, underscoring their growing appeal among investors. In 2024, the group saw net inflows of VND 9.160 trillion. The top-performing funds by inflows included:
VFMVSF (Dragon Capital): VND 2.618 trillion
VMEEF (VinaCapital): VND 1.421 trillion
EVESG (Eastspring Investments): VND 1.402 trillion, largely supported by parent company Prudential
Bond Open-End Funds
After facing net outflows in 2023, bond OEFs staged a strong rebound in 2024 with net inflows of VND 12.875 trillion. Dominating the market was the TCBF Bond Fund managed by Techcom Capital, which alone attracted VND 10.724 trillion during the year.
It is worth noting that prior to the redemption wave at the end of 2022 and throughout 2023, TCBF was among the largest bond open-end funds in Vietnam, with total assets once approaching USD 1 billion.
Top Open Ended fund by net inflow in 2024 (source vnmfund)
| 1 | VFMVSF | Dragon Capital | Equity | 757.97 |
| 2 | VMEEF | Vinacapital | Equity | 82.51 |
| 3 | DCIP | Dragon Capital | Bond | 65.15 |
| 4 | TCBF | Techcom Capital | Bond | 52.49 |
| 5 | ABBF | Anbinh FMC | Bond | 45.62 |
| 6 | VIBF | Vinacapital | Balance | 41.36 |
| 7 | VCBFFIF | VCBF | Bond | 32.71 |
| 8 | VCBFBCF | VCBF | Equity | 12.10 |
| 9 | VCBFTBF | VCBF | Balance | 11.76 |
| 10 | MAFF | MiraeAsset FMC | Bond | 11.31 |
| 11 | VCBFMGF | VCBF | Equity | 8.22 |
| 12 | MBVF | MB Capital | Equity | 6.54 |
| 13 | DCBF | Dragon Capital | Bond | 5.88 |
| 14 | VDEF | Vinacapital | Equity | 4.81 |
| 15 | LHBF | Lighthouse FMC | Bond | 4.05 |
| 16 | SSISCA | SSIAM | Equity | 3.24 |
| 17 | PBIF | PVCombank Capital | Balance | 2.80 |
| 18 | EVESG | Eastspring Investment | Equity | 2.73 |
| 19 | VFF | Vinacapital | Bond | 2.68 |
| 20 | MAFMDI | Manulife IM | Equity | 2.19 |
