Dear Investor,

At the beginning of March we wrote that we believe US equity markets are overvalued. We presented our thesis by providing a wide variety of evidence, which can be found here. We feel slightly vindicated as over the past month we have seen weaker US markets, with the Dow Jones industrial Average down -1.51%, the S&P 500 down -1% & the NYSE Composite down -1.1%. What we have begun to do is take profits from our more successful trades, like gold and US banks, and we have been allocating the proceeds to companies with fairer valuations, mainly in Europe. We are still very confident that the US economy is heading on the right track, we are just waiting for the market to shake off some of the excessive valuations, after which we will pursue our growth-orientated ideas, which have been sitting on our shortlist for some time.

Our South African clients will be shocked to learn that the South African Rand (ZAR) has weakened by -9.6% vs. the US Dollar since president Zuma fired finance minister Pravin Gordhan last week. Usually, things in Africa tend to get far worse before they get better, so if you are South African and want to transfer your assets/cash out of the country, feel free to get in touch with us ASAP and we would be happy to assist.

Feel free to take a look at our latest product & service launches below, the highlights of which are a few fantastic lifestyle property options in Vietnam, available through Colliers Homes

Happy investing,
Sven Roering
Managing partner
+84 8 3825 6369

Tenzing Pacific Investment Management

New Product/Service Launches This Month 

Vietnam Real Estate

Looking to buy/let luxury apartments in Ho Chi Minh City? Check out City Garden, 5 mins from the CBD. More here here


Earn yields of up to 20% per year through ownership of invoices issued by private companies in Singapore. An asset class available for the first time through this innovative peer-to-peer platform. Check out the basic introductory video

Contact us to open an account:

Premium Managed Account




  • No hidden, entry, exit or initial allocation fees.
  • A dedicated portfolio manager in constant contact with you via phone, email & IM.
  • Tiered fee structure rewarding higher account values.
  • Access to cash at any time, free of surrender fees.
  • Access to: stocks, bonds, ETFs, commodity futures on 100+ exchanges globally.
  • Cost-effective, flexible, easy to manage.
Contact us to open an account:
This month's blogs
Follow us on LinkedIn for newest updates


What is our favourite multi-asset fund? Read more from Sven Roering in the March addition of Citywire Asia here.


Thinking about investing in Real Estate in Vietnam? here is what you need to know.


How to buy property with very little cash: Physical Property vs. REITs. Read more here

Are you thinking about investing in binary options? Read more here
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Tenzing Pacific Investment Management · Ground Floor, Building 181, 181 Dien Bien Phu · Da Kao Ward, District 1 · Thanh Pho Ho Chi Minh, Sg 700000 · Vietnam

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