Tyndall launches institutional product
Tyndall Asset Management has launched a new product - an institutional version of its Tyndall Australian Share Concentrated Fund.
It said the institutional version of the product might prove suitable for investors on zero or low tax rates, such as charities, endowment funds and superannuation funds.
The announcement said the new institutional product used the same strategy as the Tyndall Australian Share Concentrated Fund but was likely to participate in off-market share buy-backs - something that had historically been very tax effective for investors on low tax rates.
Commenting on the move, Tyndall Asset Management managing director Mike Davis said company had identified a growing need for a concentrated share strategy that participated in off-market share buy-backs that might be suitable for zero and low-tax rate investors.
“We have already seen interest from superannuation funds as well as not-for-profit organisations and charities in the new fund,” he said.
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