News

October 2019

VN Index has attempted to break the psychological level of 1,000 points in October, ended with a marginal gain of 0.9% MoM, led by banking stocks (VCB, BID, HDB). PYN Elite declined 0.9% MoM, supported by HDB, CII, KDH but…

Read more Download

Value back to glory

Global stock markets have witnessed a strong outperformance favoring growth stocks for a longer period of time, during this period the valuation gap between growth and value stocks has risen unequally. This same development has also affected the market performance…

Read more

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…

Read more Download

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 Download

Vietnam 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 more

August 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 Download

July 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 Download

Investor 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 Download

June 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 Download

MWG 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 more