PYN Elite Portfolio review

The situation in the Persian Gulf is particularly serious for Asian economies, as they import most of their crude oil from the Middle East. However, we believe that political pressure will likely prevent a prolonged conflict between the United States, Israel, and Iran.

The outlook for Vietnam’s economy remains strong, and accordingly, we expect robust earnings growth from the companies within the PYN Elite portfolio. We have sought to capitalize on war-induced market volatility, and through active trading, we have been able to adjust portfolio weightings.

We view Vietnam as an attractive market in the short, medium, and long term.

Monthly Review

Important information regarding the text and the Fund

The attached publication is marketing material and should not be regarded as a recommendation to subscribe or redeem units of the PYN Elite Fund. Before subscribing please familiarize yourself with the Key Information Document, the Prospectus and the Rules of the Fund. The material presented in this text is based on PYN Fund Management’s view of markets and investment opportunities. PYN Elite Fund (non-UCITS) invests its assets in a highly allocated manner in frontier markets and in a small number of companies. This investment approach involves a larger risk of volatility compared to ordinary broadly diversified equity investments. The value of an investment may decline substantially in unfavorable market conditions or due to an individual unsuccessful investment. It is entirely possible that the estimates of economic development or a company’s business performance presented in this presentation will not be realized as presented and they involve material uncertainties. This publication is not meant to be read or distributed in Vietnam.

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