Australia-based Tyndall Investment Management (Tyndall AM) has launched a new Tyndall Australian Share Concentrated Income fund – LT for zero or low tax rate institutions such as charities, endowment funds and super funds, according to Financial Standard.
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An extension of its Australian Share Concentrated strategy, the new fund has been built on the same line of Tyndall Australian Share Concentrated fund; however, the tax status of its investors means it will use off-market share buy-backs to add value to unit holders.
The new portfolio, together with the concentrated nature of the portfolio, varies from the index and is anticipated to deliver different return outcomes over the short-term and market beating returns over a complete business cycle.
The fund is managed by Tyndall AM portfolio managers Jason Kim and Tim Johnston, who have been managing the strategy underpinning the fund for 12 years and six years respectively. The launch of the new fund comes on the heels of Tyndall’s decision to make the Australian Share Concentrated Fund available to retail investors.
Mike Davis, managing director of Tyndall AM, said: "We have already seen interest from superannuation funds as well as not-for-profit organisations and charities in the new fund.
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By GlobalData"This approach gives them access to a high conviction fund with a total return focus and an income bias that is constructed on a benchmark unaware basis. The strategy underpinning the fund has an excellent 15-year track record in delivering long-term returns. This has primarily been achieved by investing in companies that have more stable earnings streams.
"Because the fund is likely to participate in potentially attractive off-market share buy-backs it may appeal to investors who are on zero or low tax rates," added Davis.
