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 increased investments by the government.
• Listed companies show an annual earnings growth of +15–20%.
• VN Index target upgraded to 1,800 points.
• Vietnam to be included in MSCI’s Emerging Market review list for upgrade within three years.

More about these topics and PYN Elite portfolio in our latest Investor Letter.

Warning

7th May 2024

We have become aware in recent weeks of an ongoing fraud in Vietnam. This fraud involves the illegal use of the names ‘PYN’ or ‘PYN Elite,’ or variations thereof, in attempts to scam money from individuals through false or fake companies, mobile apps, websites, or social media.