Promina-owned Tyndall Investment Management has rolled two new funds out to retail investors in line with its signalled intent earlier this year to expand its retail market presence.
The Tyndall Select Share Income Fund is an index insensitive absolute return fund which primarily aims to offer investors an income stream, while the Tyndall Australian Core Share Fund is a milder version of the firm’s flagship value fund — The Australian Wholesale Share Portfolio.
The ‘Select’ fund, which will be capped at $400 million, is a re-badged version of a product the firm has been running for one external institutional client over the past five years and contains stocks from the S&P ASX 200 universe.
Meanwhile, the retail ‘Core’ fund, which since July 2002 has been managing $600 million of Promina group capital and holds a ‘recommended’ rating from Zenith Investment Partners, will contain between 40 and 60 stocks compared to the 20 to 35 in the wholesale version, according to Tyndall head of marketing and sales Phil Galagher.
“The market has been pushing us for quite some time to release a product that was a milder version of our successful flagship value fund. The core fund is constructed on the same stock-picking foundations used for the traditional Tyndall equity funds, but is a little more suited as a core component of a portfolio. It’s more of a value ‘tilt’ than a full-on, concentrated or deep value fund.”
Galagher says the fund was run internally as part of the group’s philosophy to smooth out any glitches in the investment process ahead of going to market.
The group will appoint a senior business development manager this week along with a business support officer, and follows the appointment of Stephen O’Brien at the end of June into a new role as institutional business head.
