Finnish fund PYN Elite has raised its VN-Index target to 3,200 points. The benchmark closed at 1,690.99 points on Friday.
PYN Elite is one of the largest foreign funds in Vietnam’s stock market. The Finnish fund has invested in Asian markets throughout its history and, since 2017, has focused its portfolio on Vietnam.
Portfolio manager Petri Deryng said Vietnam’s new administration aims for higher prosperity. He highlighted large public projects and stronger private investment as key growth drivers.
Deryng also pointed to rapid modernisation of Vietnam’s financial markets. He said bank loan growth is being actively supported, backing long-term earnings expansion.
PYN Elite’s new target assumes average earnings growth of 18–20% in coming years. The fund expects earnings growth above 20% in 2025.
According to its website, PYN Elite reports a cumulative return of 5,456% and a 16.2% annual return.
