News

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

Share 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 more

May 2019

May is the time of the year when market timers start prompting investors to “sell in May and go away”. Indeed, VNIndex fell 2.02% due to the trade war and oil price plunge. However, market timing is for traders, not…

Read more Download

2021 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…

Read more

April 2019

VN Index moved sideways in April – utility stocks surged on rising oil price, banks weakened as investors are yet to fully digest SBV’s new policies. PYN Elite slid -2.8%, due to no energy stock while overweight of financials. S&P…

Read more Download

March 2019

End of March, PYN Elite’s NAV increased 0.3% primarily supported by VEA, TPB and CII while VN-Index increased 1.6% due to contribution from big banks such as VCB, BID and CTG. Our core companies continue to be attractively priced at…

Read more Download

Clear Direction for Vietnam

Real estate, stocks, bonds, bank deposits. The big picture is not as clear as one would hope for making sound investment decisions. It is easy to see that the US and Finnish stock markets have gone up for nearly a…

Read more