News
October 2018
In October, the global stock markets continued to face with turbulence and strong sell-offs in the Chinese and US exchanges. Vietnam’s stock market was not immune to volatility, VNIndex lost 10.1% MoM, a bit less than its sharp drop of…
Investor Letter 3/2018
Portfolio Manager Petri Deryng’s Investor Letter in October 2018, which looks at the prospects of key portfolio companies in PYN Elite and draws conclusions from the last five stock market crashes.
September 2018
In September, PYN Elite Fund advanced 4.2%, outperforming VNIndex which was up 2.8%. The fund was supported by MWG and our midcap stocks. It seems investors are increasing interested in small and midcap stocks where valuations are the most attractive.…
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…
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…
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.
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…
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…
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…