News
September 2019
In September, PYN Elite gained 1.9% on MWG, HDB, KDH and CII. VN Index +1.3% supported by banking sector. Q3 GDP growth came strong at 7.3%, well above consensus of 6.7%, despite a lagging government disbursement. State Bank of Vietnam…
Read more DownloadVietnam GDP +7.3%
The good pace of industrial production in Vietnam keeps GDP growth up to speed. General Statistics Office of Vietnam just released preliminary third-quarter growth figures, which were surprisingly good; growth of 7.31% from last year and thus a nine-month GDP…
Read moreAugust 2019
PYN Elite’s NAV in August increased 1.27%, led by MWG (+ 9.5% MoM), TPB (+2.0% MoM) and KDH (+8.3% MoM) while VN-Index declined 0.77%, caused by laggards GAS (-5.7% MoM), VCB (-3.1% MoM) and HVN (-13.0% MoM). General Statistics Office…
Read more DownloadJuly 2019
In July, stock market has been approaching towards 1000 level with slightly improved liquidity. Daily trading value recovered +4.2% MoM to USD 178mn. VN-Index increased 4.4% MoM while our portfolio increased 2.2% thanks to MWG (+15.1% MoM), VEA (+5.5% MoM),…
Read more DownloadInvestor 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?…
Read more DownloadJune 2019
June was an eventful month characterized by the MSCI’s market classification, US-China discussion at G20 summit and the signing of free trade pact between Vietnam and EU. Despite growing volatility, PYN Elite fund gained 1.32%, outperforming VNIndex which dropped 1.04%.…
Read more DownloadMWG shows signs of awakening
Vietnam’s stock market is buzzing at around 950 points. In April 2018, the market took an upward hike, surging to around 1,200 points, but after the subsequent correction, the index has been trading at between 900 and 1,000 points. From…
Read moreShare warrants
Warrants will be launched in Vietnamese stock market. Brokers have already issued warrants and individual share warrants will be listed in the near future. The demand of share warrants is especiially high for the companies with full foreign ownership limits…
Read more2021 P/E 5.9
The biggest weighting in our portfolio, the Vietnamese retail group MWG, at 16.7%, just released its January-April results for 2019: Net profit grew +36%, to VND 1,424 billion (1,044), and the strongest growth in revenue was seen in online sales…
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