Vietnam’s investment fund market continued to face redemption pressure in Q3 2026, alongside notable shifts in asset allocation strategies. In particular, after reducing cash holdings in August, open-ended equity funds increased cash holdings again in September, with this trend observed across several funds with large NAVs. 

FiinGroup's Vietnam Fund Performance Report - September 2026highlights several key developments: 

• Performance diverged significantly across fund types in 9M2026. Specifically, bond funds maintained positive returns, whereas equity and balanced funds moved into negative returns.  

• Net fund flows: Investment funds recorded net outflows of VND8.6 trillion in Q3-2026, primarily concentrated in closed-end funds. This marked the seventh consecutive quarter of net outflows, totaling VND65.4 trillion. For 9M2026, net outflows reached nearly VND31.7 trillion (+34.2% YoY).  

• Cash holdings: After reducing cash holdings in August, open-ended equity funds rebuilt cash positions in September, signaling a more cautious stance as the equity market remained under pressure.   

• Top net buy/sell stocks were primarily driven by portfolio rebalancing activities of ETFs. Specifically, VPB led the list of most net-bought stocks, followed by MBB, ACB, and HDB. Conversely, Brokerage (VIX, VND, VCI) faced heavy net selling. 

Figure: Investment funds recorded net outflows for the seventh consecutive quarter 

👉  Explore the full report HERE

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The report is built on data from the FiinPro-X platform, providing regular insights into capital flows, fund performance, and institutional asset allocation trends in Vietnam's capital market. 

👉 Explore more about FiinPro-X: https://fiinpro.com/fiinpro-x