Tyndall gets green light for growth
Deep-value investment groupTyndall Investment Managementhas been reassured of its future in the market after recently listed parent Promina gave its full support to an extensive 10-year growth plan.
The strategy will see Promina invest across a range of Tyndall’s operations — in particular its sales and marketing areas — as the group prepares to make a bigger name for itself in the retail market.
“We’ve now removed any lingering reservations the market had of Tyndall’s future. We’ve spent the past six months building a strategy that was put to the Promina board and they accepted [the proposals],” Tyndall head of marketing and sales Phil Galagher says.
Part of this push involves rolling a series of funds out to retail investors, which includes the Tyndall Australian Share Portfolio, the Tyndall Australian Share Core Fund and a collection of its fixed-interest offerings.
According to Galagher, its institutional focus will not diminish, but will increase significantly on the retail side with it primarily targeting independent financial advisers.
“While it will now be possible for people to come to us directly, nevertheless our focus will be on independent channels,” Galagher says.
Following the ‘green light’ from Promina, the value manager has moved quickly by appointing two retail business development managers (BDMs) and a marketing manager to its Sydney office. It is also in the process of appointing two interstate retail BDMs, an institutional BDM as well assigning up a senior executive to support the firm’s team of sales and distribution managers.
Galagher says the group plans to seek alliances later this year to allow it to better service central and western parts of the country.
“Our reputation has also been built on being a deep-value manager, but we’ve released a core Australian equities fund, which is a little less extreme by having a few more stocks in the portfolio and a lower tracking error,” Galagher says.
The group is now included on a number of master trust manager line-ups following a collection of strong research house ratings.
“The strategy that Promina has approved is somewhat organic in the way we’re seeking to grow, but at the same time, it is a 10-year plan and we’ll continue to invest more in the business as we meet our milestones along the way.”
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