Vietnamese market’s time to perform

No doubt, that one can expect good returns from Vietnam in 2024. Based on the performance of the VN-Index, local investors are getting ready to jump into the market. PYN Elite NAV has gained 10% since the beginning of the year. Vietnam’s money market has normalized, banks’ liquidity is solid and interest rates have moderated back to attractive levels.

We believe that Vietnam’s listed companies will record more than 20% profit growth in 2024. The banking sector is the largest on the stock exchange, and we expect banks to deliver meaningful profit growth. Shares, especially bank shares, remained at far too low valuations during the last couple of years. The upside potential of these stocks is significant when economic activities continue to pick up with the favourable money market cycle.

Important information regarding the text and the Fund

The attached publication is marketing material and should not be regarded as a recommendation to subscribe or redeem units of the PYN Elite Fund. Before subscribing please familiarize yourself with the Key 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.