In December, the VN-Index gained +5.5%, concluding the year at a historic 1,784 points. Market performance remained highly divergent, driven almost exclusively by the Vingroup ecosystem. Despite these headline gains,
VN Index recorded an exceptional year, rising by +40.9%. The flagship stock of the VIN Group, VIC, delivered a remarkable gain of 736% over the year. VIC carries a 16%
The new target for the VN Index is 3,200 points. Vietnam’s fresh leadership is pursuing even stronger economic growth, supported by substantial public spending. Several mega-scale infrastructure and development projects
PYN Elite’s portfolio manager, Petri Deryng, publishes a comprehensive Investor Letter four times a year, reviewing the Vietnamese market and often also global markets.
TOTAL RETURN
cumulatively on PYN Elite since the inception on 1.2.1999 until 31.12.2025. The average annual return is 16.2%.
MILLION EUROS
of assets under management in the PYN Elite Fund as of December 2025. PYN Elite is the largest investment fund registered in Finland, investing in Asian equities.
YEARS
of experience in the Asian stock market, and also the equity fund managed longest by the same portfolio manager in Finland.
EQUITY INVESTMENT
ALLOCATION IN VIETNAM
PYN Elite has been investing in Vietnam since 2013 and today all of our equity investments are in Vietnam, which is among the fastest-growing economies in Asia.