News

New investor letter: Vietnam will continue to grow

The momentum of Vietnam’s economy has slowed following the rest of the world, but the country continues along its growth trajectory and the course for this decade has been set. In our latest investor letter, we describe Vietnam’s success story…

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In Vietnam we trust – PYN Elite’s new presentation

In this presentation you will find our top holdings and our view on Vietnam’s economy. Vietnam’s GDP is expected to continue at an excellent annual growth rate of 6%-7% for the next ten years. In 2020 the country’s economy will…

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PYN EIite up 12.8% in August 

PYN EIite up 12.8% in August Vietnam stock market recovered well in August, VN Index was up 10.4% thanks to VCB (+8.6%), VNM (+13.1%) and BID (+11.7%). PYN Elite’s NAV increased 12.8% because of CTG (+21.2%), HDB (+18.4%) and MWG…

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Vietnamese banks are making profit despite the pandemic

At the moment Vietnamese banks account for a total of 32,5 percent of PYN Elite’s portfolio. Our top picks are HDB, CTG, and TPB. We increased our weighting in banks already before the corona crisis due to banks’ importance for…

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July 2020

In July, VNIndex went down 3.24% due to 1) The anticipation of 2Q’s poor earnings results and 2) The outbreak of Covid-19 in Danang in late July. VCB, VNM and VJC lost traction the most and trading liquidity decreased sharply…

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Over-reaction of the Vietnamese stock market to new COVID cases

The Vietnamese stock market has reacted fiercely to the country’s new COVID-19 infections. There have been no new locally acquired infections in the country for three months and all possible cases of infection from abroad have first been subject to…

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June 2020

VN INDEX declined -4.6% in the month, driven by large cap such as VIC (-8%) and VCB. PYN Elite is almost flat at -0.5% in the month. Liquidity was strong in 2Q2020 with average daily trading value at $278m (+51%…

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Investor Letter 2/2020

The VN index return was –13.4% this year on the date of this letter. PYN Elite’s value has also declined by roughly 8% YTD. Events in financial markets has been exciting this spring. The dramatic fluctuating upward and downward days…

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May 2020

Vietnam stock market continued to recover in May, VN Index was up 12.4% thanks to VCB (+25.3%), VHM (+20.4%) and VNM (+16.2%) while PYN Elite’s NAV increased 7.9% because of VEA (+ 5.8%), TPB (18.7%) and HDB (+17.2%). More than…

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Situation under control

The Vietnam Stock Exchange started in 2020 with an index reading of 960 (A). The Vietnamese economy was having good growth and the earnings expectations of listed companies were rather robust. At the turn of the year, a period of…

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