Earnings growth in Vietnam is not under threat

— 29.03.2022

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 time in a Questions and Answers format to address various topics.

Here are the key findings of the letter:

  • We can expect Vietnamese companies to deliver a strong earnings year in 2022.
  • The turnaround companies and the banks in the PYN Elite portfolio look particularly interesting this year.
  • We may see a lot of sudden up and down movements in the stock markets during the year.

PYN ELITE
Petri Deryng

Portfolio Manager

 

Investor letter 1/2022.pdf