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 were quite extraordinary, while even prime-time TV news reports kept us up to date with the slick movements in oil prices. In addition to stocks and oil, also foreign exchange rates kept seesawing faster than boats in the legendary Sulkava Rowing Race (the most famous local rowing competition in Finland).
Investor Letter 2/2020.pdf
Portfolio Manager and Board Member, born 1961. Petri is the founder of PYN Fund Management. He has been a portfolio manager for the PYN Elite Fund since its inception in 1999. Petri has been quoted among the most successful portfolio managers in Finland and Europe. By Citywire, Morningstar and Arvopaperi Magazine. He has 30 years of experience in visionary and successful equity investing. Prior to starting as a full-time portfolio manager, Petri worked as an entrepreneur in the media industry in radio and television program productions. Petri is a graduate of economics. Petri has been living in Asia for a long time on the target markets for PYN Elite investments. In addition to investment, important things in his life are family, sea and fishing, as well as skiing, walking and cycling.