Vietnam’s Open-End Mutual Funds Achieve Strong Results in 2023

2023 Market Review – In recent years, Vietnam’s open-end mutual fund market has grown steadily, supported by rising investor interest, an expanding middle class, and the increasing demand for professional asset management. These funds have become an attractive channel for both individual and institutional investors seeking diversification, transparency, and long-term returns.

By the end of 2023, Vietnam’s stock market recorded a notable recovery, with the VN-Index closing at 1,129.93 points, up 12.2% from the beginning of the year. Against this positive backdrop, open-end mutual funds also delivered impressive results, particularly equity funds which posted outstanding gains.

Among bond funds, the standout performer was TCBF, managed by Techcom Capital. After experiencing significant redemptions in Q4 2022, TCBF had been considered undervalued. Its strong rebound by the end of 2023 highlights both the resilience of the fund and the effectiveness of its management strategy.

Equity funds were the clear winners of 2023. The top five equity funds all outperformed the VN-Index by more than 10%, underscoring the ability of professional fund managers to identify opportunities and generate superior returns in a recovering market.

The performance of Vietnam’s open-end mutual funds in 2023 reflects growing investor confidence and the maturing capabilities of the domestic asset management industry.

Detailed fund performance data are presented in the table below.