PYN Elite NAV lagged behind VN Index in April, but in May our NAV has again outperformed the index. Our bank stocks have been on a tailwind, and the heavily weighted housing developer Vinhomes has also picked up. Companies in the banking and real estate sectors are likely to publish good results also from the second quarter, so one could assume that their shares will hold the momentum for the next few months.
As we have already previously noted, the earnings outlook for the year 2021 looks bright for the Vietnamese listed companies. The latest corona waves have still held back some of the holdings we entered in low levels during the Covid discounts period, for example, airport operator ACV and mall operator VRE.
Portfolio Manager and Board Member, born 1961. Petri is the founder of PYN Fund Management. He has been a portfolio manager for the PYN Elite Fund since its inception in 1999. Petri has been quoted among the most successful portfolio managers in Finland and Europe. By Citywire, Morningstar and Arvopaperi Magazine. He has 30 years of experience in visionary and successful equity investing. Prior to starting as a full-time portfolio manager, Petri worked as an entrepreneur in the media industry in radio and television program productions. Petri is a graduate of economics. Petri has been living in Asia for a long time on the target markets for PYN Elite investments. In addition to investment, important things in his life are family, sea and fishing, as well as skiing, walking and cycling.