A foreign investment fund raises its expectation for VN-Index to 3,200 points.

This is the information in a report sent to investors from Mr. Petri Deryng - Founder of Finnish Investment Fund PYN Elite Fund.

Accordingly, the head of PYN Elite Fund said that when choosing to allocate the portfolio by country for this investment fund 10 years ago, PYN Elite set a long-term target for VN-Index at 2,500 points. Currently, the fund has raised this target to 3,200 points.

These decisions are based on the Vietnamese Government leading the economy towards greater prosperity, and large-scale public investment projects will fuel a new era of strong growth, while also driving investment growth in the private sector.  

At the same time, the modernization of financial markets is taking place rapidly, and bank credit growth is actively supported. In short, these policies are creating more favorable conditions for economic expansion and corporate profit growth.

PYN Elite said that the P/B valuation of VN-Index has exceeded 3 times in three different periods in the past 15 years. In the long term, the average P/E is around 16 and there have been three periods when P/E exceeded 20. The new target for VN-Index is 3,200 points, built on the expectation of average profit growth of 18-20% in the coming years. In 2025 alone, profit growth is likely to exceed 20%.

PYN Elite’s performance has unfortunately stalled in the last six weeks, currently only reaching about +15% YTD. Investors continue to take profits, especially in stocks that have increased sharply. “However, according to market consensus, the profit outlook for the next 6 and 12 months remains very positive. The market can return to an uptrend at any time,” Mr. Petri Deryng affirmed.  

PYN Elite Fund Performance by Month

TOP holdings of PYN Elite Fund according to October 2025 report

Last October, PYN Elite had a negative performance of 4.85%, following a -3.21% performance in September. This performance was affected by a strong correction due to profit-taking pressure after the VN-Index reached a new historical peak on October 16. The adjustment of the banking and financial groups affected PYN Elite's portfolio. Previously, as of the end of October, the cumulative performance of PYN Elite Fund was still at 21.12%, so the possibility of this investment fund's November performance still not achieving positive growth.

Source: https://baodautu.vn/mot-quy-dau-tu-ngoai-nang-ky-vong-vn-index-len-3200-diem-d443780.html