About us

We focus on one investment strategy and we are deeply and actively focusing on the stock markets we invest in.

24 years of experience in Asian stock markets

PYN Fund Management Ltd is an independent, management-owned Finnish fund manager.

Established to manage the PYN Elite Fund, which began operations on February 1, 1999, we do not aim to be a comprehensive asset manager or a fund house. Our goal is to offer investors our unique investment expertise.

We focus on one investment strategy and dive deeply and actively into the stock markets in which we invest. This approach has proven successful for us over the past 24 years.

Analysis team in Asia

PYN Fund Management Ltd holds an Alternative Investment Fund Manager (AIFM) license issued by the Finnish Financial Supervisory Authority, and both the fund and management company are under the supervision of the Financial Supervisory Authority.

We manage both the investments and administration of the PYN Elite Special Investment Fund, taking care of tasks such as compliance and risk management.

Furthermore, our investment activities are supported by PYN Asia Research, which provides research and analysis services to PYN Fund Management in Thailand and Vietnam.

Story of PYN Elite


Vietnam’s GDP grew by 8% in 2022. However, it was a tough year on the stock market: the VN Index was down 32.8%.  PYN Elite performed slightly better, down 28.3%.


In December PYN Elite sold all of its shares of the property development company CEO. The fund’s return from CEO was approximately 70 million euros.


As a result of the coronavirus epidemic, stock prices plummeted also in Vietnam. In March, PYN Elite’s NAV went down by 27%. However, a turnaround came quickly, and by the end of 2020, the NAV was up by 32% for the year.



PYN Elite Special Investment Fund celebrated its 20th anniversary on February 1st. 


Trading of TPB’s shares begins in April on the Vietnam Stock Exchange. The share price at the end of the day is 30% higher than the acquisition price paid by PYN Elite.


VN-Index was up 48% at 984 points for the year 2017 – the highest in ten years. 


The PYN Elite Fund reached a new High Water Mark (HWM) with a value of 268,976 euros on November 30, 2016.


PYN Fund Management began its Twitter communication under the username @pynrahastoyhtio. The fund can be found on Twitter with the handle @PYNElite.


In March, PYN Elite Fund’s assets under management surpassed EUR 300 million.


On September 30, 2013, PYN Populus was merged into PYN Elite as the latter continued its focus on the markets of Vietnam and China.


As the target level for the Thai market approached, the fund initiated a reallocation. Stocks from Vietnam and China were bought for the fund’s portfolio.

PYN Fund Management Ltd


Eino Laitinen

Chairman of the Board

Kimmo Myllymäki

Board of Directors

Kimmo Myllymäki
Petri Deryng
Markku Ellilä
Jussi Savonen


PricewaterhouseCoopers Oy,
Auditor Taru Mäenpää, KHT


Waselius & Wist Oy

Internal audit

Juha-Matti Heino, KHT


Skandinaviska Enskilda Banken AB, Helsinki branch. SEB’s headquarters are in Stockholm, Sweden.

Authorization and supervisory authority

Alternative Investment Fund Manager’s Authorization (AIFM)
Financial Supervisory Authority