The NAV of the PYN Elite fund reached 500 euros on 12.11.2021. NAV was 10 euros at the fund inception 22 years ago, meaning that the NAV has by now increased fiftyfold (50x).
According to Investment Research Finland, PYN Elite has the all-time best returns of the Finnish Funds. “With these returns, PYN Elite is in its own class among the Finnish Funds,” says portfolio analyst Erkki Haavisto of the Investment Research.
PYN Elite’s inception date was February 1, 1999. At that time, all the fund’s assets were allocated to Thailand’s stock market. From day one, the fund’s strategy has been to focus on investing in the stock markets where valuation ratios had either lagged behind the general trend or where macroeconomic setbacks had plunged the stock prices.
The strategy has remained the same throughout the 22 years of operations. PYN Elite has achieved high returns in its way of operating, regardless of the general stock market valuation in the world. Mr. Petri Deryng has been the fund’s portfolio manager since the beginning.
Now PYN Elite’s assets are in listed Vietnamese equities. The Fund had 787 million euros in assets under management (AUM) on November 12, 2021, and its average (CAGR) annual return since inception is 18.7 percent.
Mr. Eino Laitinen, CEO of the PYN Fund Management, says that the fund still has many customers who first invested in 1999. “It’s great that these investments have now increased their value fiftyfold. We are very grateful that we have had so many long-term clients who have trusted the fund. ”
Mr. Laitinen sees similarities in the current market conditions with the end of the 1990s when share prices had risen faster than the companies’ earnings for a long time. This led to a global crash in stock market in 2000, after which stock market returns remained weak for several years.
“At that same time, PYN Elite’s focused and country-specific investment strategy managed to provide a return of 400% in five years. Of course, the world has changed since then, and the investment environment is also very different, so no direct conclusions can be drawn from this,” Laitinen reminds.
Important information regarding the text and 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.