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Foreign fund SHS becomes a major SHS shareholder ahead of FTSE upgrade confirmation. The Finland-based PYN Elite Fund increased its stake in Saigon-Hanoi Securities Joint Stock Company (SHS) to 47.3 million shares, representing 5.26% of its capital, a value of about VND 46 billion at an estimated price around VND 16,000 per share on the trading day. On 25 March, foreigners recorded net buying of SHS totaling more than VND 48 billion, largely attributed to PYN Elite. After the trades, PYN Elite sits among SHS's large shareholders alongside T&T Group (holding 5.57%). The fund’s aggressive deployment comes as it is rebalancing its Vietnam portfolio, rotating capital out of high-priced names toward stocks with stronger profit prospects in the coming months. At the portfolio level, brokers account for about 13.4% of the fund’s weight, behind banks at about 35%, indicating an emphasis on stocks linked to market movement. The Finland-based fund maintains a positive near- to mid-term view on Vietnam. One notable factor is the possibility of market upgrading; FTSE is expected to confirm reclassification on 8 April, which could pave the way for index-tracking funds to begin allocating to Vietnam in the near future. Active funds often move in tandem with this trend. The fund’s report also notes foreign ownership in Vietnam remains low relative to many other emerging markets, suggesting room for foreign capital to return and increase presence if the upgrade is confirmed. Foreign money into SHS did not stop with PYN Elite; on 31 March and 1 April the stock saw further strong buying of about VND 256 billion and VND 145 billion, respectively, while selling was limited. Since the start of Q2 2026, SHS has ranked among the top 10 stocks with the strongest foreign net buying in the market, totaling about VND 129 billion. SHS recently showed net foreign buying activity in line with the broader trend.
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