News

August 2018

In August, PYN Elite gained 5.4% primarily supported by VND, HBC and HDB. VN Index advanced 3.5% on energy name GAS and banks. Trading volume remained subdued at $230m/day in August, cf. $350m/day in 1H2018. After all 720 Vietnamese companies…

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July 2018

In July, the Vietnamese market remained weak for the fourth consecutive month following strong foreign net sell. VN Index lost 0.46% despite the recovery in the second half of the month thanks to support from 2Q positive results of some…

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June 2018

A stronger dollar and fear of a US-China trade war kept the Vietnam stock market soft: VN Index lost 1.1% in June, the third month of correction in a row. Liquidity declined, but foreigners’ net selling slowed down to a…

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Investor Letter 2/2018

Portfolio Manager Petri Deryng’s Investor Letter in July 2018, reviewing the fall of Vietnam’s stock market and PYN Elite from their peak in the spring.

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May 2018

The sharp correction in April by financials and large-caps evolved into a broad market sell-off in May, with a little recovery at month-end. While some names’ corrections were anticipated, many quality stocks were also sold off indiscriminately under panic. The…

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April 2018

VNIndex hit its all-time high early in April but unfortunately, could not maintain the momentum as the month went and tumbled 10.6% following big sell-offs in large caps and the lack of foreign net inflows. If subtracting put-through transaction of…

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March 2018

In March, PYN Elite fund decreased by -0.8% due to a dip in MWG, CII and a stronger Euro while VN Index advanced +4.7% to a new high. While this is the 7th month in a row that PYN Elite…

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Investor Letter 1/2018

Portfolio Manager Petri Deryng’s Investor Letter in March 2018 reviewing recent developments in the Vietnamese stock market compared to Thailand and the investment strategy of PYN Elite.

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February 2018

This review – drafted in HCMC, finished in Hanoi – was written in between my company visits in Vietnam. Visiting Vietnam now is very different than what was 3 years ago. Long gone are the half-empty flights and quiet airports.…

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January 2018

VN Index hit a 52-week high on the last trading day of the Lunar year and closed January with a strong gain of 4,87% mainly thanks to index heavily weighted banking stocks. PYN Elite NAV advanced 0,87%, partly due to…

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