September 21st marked Vietnam’s historic debut as its FTSE Emerging Market upgrade took effect, welcoming the first tranche of passive inflows. However, external headwinds continued to weigh on market sentiment:
Vietnamese listed companies are heading for an excellent year of earnings growth in 2026. The broad market trades at a P/E of 8.8 on Bloomberg’s 2027 consensus estimates. Given Vietnam’s
After a sharp pullback in July, the VN-Index rebounded 5.6% in August, led by broad gains across large-cap equities. PYN Elite +5.5%. In the August 2026 Review, FTSE Russell Index
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 30.9.2026. The average annual return is 15.2%.
MILLION EUROS
of assets under management in the PYN Elite Fund as of September 2026. PYN Elite is a Finnish equity fund focused on Vietnam and one of the largest foreign investors in the Vietnamese stock market.
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.