Greetings from Vietnam, where I have been for two weeks visiting companies in Ho Chi Minh City and Hanoi. I have spent my days meeting numerous CEOs and evenings working on this Investor Letter. We decided to make it this…
We are still excited about the upside potential for the Vietnamese stock market. Here are the keynotes of our new Investor Letter: PYN Elite has performed well, but the big-cap companies are lagging. Strong earnings growth is expected for the…
In this Investor letter we have few important notes for our positive expectations in the Vietnamese stock market. The earnings growth in the coming years looks very strong and we believe this will be the key driver in the market.…
In this investor letter we are trying to illustrate with few key data series our views of the outlook for Vietnamese stocks and PYN Elite Fund. We hope you will find these charts and tables useful to deepen your understanding,…
My colleagues at PYN recently suggested that I should write a column for an online publication on value investing. This is a topical issue as investors debate the old question of value vs growth. After thinking about it for a…
It is time for the last Investor Letter of the year. Portfolio Manager Petri Deryng has lot of questions to go through, starting from this: Has the surge in prices seen this past autumn pushed Vietnamese stocks too high? “The…
The momentum of Vietnam’s economy has slowed following the rest of the world, but the country continues along its growth trajectory and the course for this decade has been set. In our latest investor letter, we describe Vietnam’s success story…
The VN index return was –13.4% this year on the date of this letter. PYN Elite’s value has also declined by roughly 8% YTD. Events in financial markets has been exciting this spring. The dramatic fluctuating upward and downward days…
Unfortunately, in recent days, many other countries have been forced to follow the similar measures already seen in China to curb the coronavirus epidemic. We hope that your relatives survive the globalized coronavirus epidemic without serious consequences and that your…
During the last three years, PYN Elite showed excellent performance compared with the VN Index for the first 10 months, outperforming the index return by roughly 100%, but for the last two years after that, the index return has outperformed…