News

A month with Coronavirus

The coronavirus has brought VN Index from 990 level to 920 in a month, with the weakest trading days visiting below 900. The first 3 weeks of the year were very promising. The index performed nicely due to good company…

Read more

PYN Elite Fund (non-UCITS) – Amendments to the Rules of the Fund

On 1 March 2019, a number of amendments and changes to the Finnish rules and regulations concerning common funds came into effect. To account for these changes, the Board of Directors of PYN Fund Management Ltd has decided to amend…

Read more

January 2020

In January, the market was struck by the outbreak of Wuhan coronavirus and declined sharply 2.5% MoM while PYN Elite NAV retreated 0.9% MoM. Noticeably, PYN Elite NAV had recorded a strong gain of 4.3% during the first 3 weeks…

Read more Download

Good Results

The Vietnamese stock market has been sluggish for a long time, while the US stock market and several individual Finnish stocks have performed well. However, all the elements for a brisk stock market performance in Vietnam exist; here are the…

Read more Download

Realizing MWG Gains

At the end of November, we agreed on a block trade where we halved our MWG stake by selling seven million shares at a good premium compared to the stock market price. As the purchase price deviated from the stock…

Read more

December 2019

VN Index declined 1% in December, while PYN Elite stayed rather flat -0.1%. Some observations on market: Banks deliver strong results: Following September review in which we described banks’ strong bargaining power on bancassurance contract, TPB in November announced a…

Read more Download

Investor Letter 4/2019

During the last three years, PYN Elite showed excellent performance compared with the VN Index for the first 10 months, outperforming the index return by roughly 100%, but for the last two years after that, the index return has outperformed…

Read more Download

November 2019

The market experienced a difficult month in November, VN-Index declined 2.8% MoM because of SAB (-13.2% MoM), VNM (-6.5% MoM) and VIC (-2.8% MoM) while PYN Elite’s NAV declined 2.0% MoM because of MWG (-12.5% MoM), HDB (-10.0% MoM) and…

Read more Download

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