Investor Letters
PYN Elite portfolio manager’s Q&A: Are the Vietnamese stocks already too high?
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…
New investor letter: Vietnam will continue to grow
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…
Investor Letter 2/2020
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…
Investor Letter 1/2020
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…
Investor Letter 4/2019
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…
Investor Letter 3/2019
Vietnam Solid Data, No Tense, No Jittery • PYN Elite’s key holdings (82% of the portfolio) valued at P/E 7.1 for 2021. • Vietnam has the highest number of free trade agreements. • Vietnam’s official GDP adjustment will result in…
Investor Letter 2/2019
In the middle of the holiday season, perhaps these investment related questions occupy the vacationer: what could kick start a new substantial performance for PYN Elite’s value? When can we expect the VN Index to bolt up to new levels?…
Investor Letter 4/2018
Portfolio Manager Deryng’s Investor Letter in December 2018, commenting on key investments and discussing the significance of the stock market decline in the end of the year.
Investor Letter 3/2018
Portfolio Manager Petri Deryng’s Investor Letter in October 2018, which looks at the prospects of key portfolio companies in PYN Elite and draws conclusions from the last five stock market crashes.
Investor Letter 2/2018
Portfolio Manager Petri Deryng’s Investor Letter in July 2018, reviewing the fall of Vietnam’s stock market and PYN Elite from their peak in the spring.