Vietnamese market crashed – What’s next?

— 19.05.2022

The Vietnamese government’s sudden move to clean up stock manipulation caused the crash in the Vietnamese stock market this April and May. Investors who had manipulated stocks of their own companies were arrested. In the sell-off, the VN-Index plummeted 20 percent. At the same time the peer stock markets Thailand, Malesia and Indonesia were flat. This crash resulted in Vietnam’s forward 2022 P/E dropping to 10.9 despite the fact that earnings growth for the year is solid +25 percent.

Here are my views and data on what to expect next.


Important information regarding the text and the Fund

This is marketing material. Before subscribing please familiarize yourself with the Key Investor Information Document, the Prospectus and the Rules of the Fund. The material presented in this text is based on PYN Fund Management’s view of markets and investment opportunities. PYN Elite Fund (non-UCITS) invests its assets in a highly allocated manner in frontier markets and in a small number of companies. This investment approach involves a larger risk of volatility compared to ordinary broadly diversified equity investments. The value of an investment may decline substantially in unfavorable market conditions or due to an individual unsuccessful investment. It is entirely possible that the estimates of economic development or a company’s business performance presented in this presentation will not be realized as presented and they involve material uncertainties.





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