PYN Elite

PYN Elite is an actively managed equity fund that has successfully invested in the Asian stock markets for 23 years. Currently, the fund’s assets are in the Vietnamese stock market in about 20 listed companies.

About the Fund

PYN Elite is an actively managed equity fund that has successfully invested in the Asian stock markets for 23 years. Currently, the fund’s assets are in the Vietnamese stock market in about 20 listed companies.

Our goal is to find significant value gains with a considerable company and market-specific weightings. The fund aims at long-term value investing and aims to have a clearly higher return than the equity funds with diversified global portfolios.

PYN Elite fund (non-UCITS) is suitable for demanding investors in the financial markets. The investor investing in the fund must be seeking a return on investment for at least ten years.

Investment Strategy

Fund

PYN Elite is

• Long term
• Actively managed
• Long-only
• Global, currently Vietnam focused allocation

Markets

We invest in

• Underperforming or undervalued markets in comparison to markets historical fair valuation
• Improving macroeconomic/demographic trends
• Industries and companies that are overlooked, are contrarian, at the start of a positive business
cycle
• Undervalued companies that are in their rapid growth phase

Research

Key Characteristics

• Conducting regular company visits by the portfolio manager and research team
• Long term undervalue entry levels and fair value exit targets
• Deep fundamental research and modeling

Vietnam is one of Asia’s fastest-growing economies

The Vietnamese economy grew by over 7% in 2019 and growth is estimated to remain strong in the coming years. There are over 97 million inhabitants (2018) of which 70% is under 35 years. The economy of Vietnam is driven by a competitive export industry and a prospering middle class. Vietnam has soared from the poorest countries in Asia towards middle-income countries. For example, Finland has stopped development cooperation in Vietnam in 2018, and relations between countries will focus on commercial cooperation in the future.

There are two stock exchanges in Vietnam, in Ho Chi Minh City and Hanoi, and there are more than 700 listed companies. The Vietnamese stock market is currently rated as a Frontier Market, but upgrading the stock market status as an Emerging Market is expected to take place in the next few years. The officially Communist one-party government of Vietnam is committed to promoting market economy reforms and liberalization of the securities market.

PYN Elite Presentation

In the Presentation of the fund you will find more detailed information on PYN Elite’s operating principles, up-to-date information on the market and the fund portfolio. We update the Presentation monthly, so check the content regularly.

PYN Elite Presentation

PYN Elite Fund information

Inception date 1.2.1999
Fund Manager Petri Deryng
ISIN FI0008803812
Bloomberg ELITE FH
Minimum subscription 10 000 eur
Additional minimum 2 000 eur
Subscriptions The last Finnish banking day of the month
Redemptions The last Finnish banking day of the month, redemption request at the latest on the 15th day of the month, or, if this is not a Finnish banking day, on the previous Finnish banking day.

Fees

Subscription fee 0%*
Redemption fee 0%
Ongoing charges 1.08%
Performance fee 12%

* The subscription fee for all subscriptions of over twenty million (20,000,000) euros will be 5%, which sum will be paid to the Fund.

Ongoing charges include the management fee and the fees paid to the Custodian.
Ongoing charges and the possible performance-based fees are taken into account in the daily value of the Fund unit and will not be charged separately from the Fund unit holder.
The performance-based fee is 12% of the part of the return generated during a calendar month that exceeds the applicable reference value. The reference value is the High watermark (HWM) or the return on the world
stock market for ten years, whichever is higher. The performance-based fee model is described in more detail in the Prospectus. The current HWM is 566,152 EUR (January 31st, 2022).

In addition to the fees and expenses mentioned above, the Fund’s assets are subject to brokerage fees and taxes related to securities trading. More detailed information on expenses in the Prospectus.

Unit certificates and balance reports are free of charge.

 

Portfolio Manager

Petri Deryng has been a portfolio manager for PYN Elite since its start in 1999. Petri has been listed on several occasions among the most successful portfolio managers in Finland and Europe by Citywire, Morningstar and Arvopaperi. He has 30 years of experience in visionary and successful equity investing.

Key risks associated with the fund

Investment always involves an economic risk, and historical returns are not a guarantee for the future. The value of the investments and the return on them may rise or fall, and the investor may not be able to recover his original investment. PYN Elite is a high-risk equity fund, the risks of which the investor must consult before making an investment decision. These risks include:

  • Market risk
  • Extraordinary events and country-related risk
  • Risks related to the implemented view
  • Currency risk
  • Liquidity risk

Risks are described in more detail in the PYN Elite Prospectus.

Newsletter

By subscribing to our newsletter, you will receive a monthly overview of the fund and up-to-date fund reports from Vietnam.