News
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Winner in Money magazine’s 2012 Best of the Best award for Australian Fixed Interest Funds
Tyndall has won Money magazine’s 2012 Best of the Best award for Australian Fixed Interest Funds. > tell me more >
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Australian Banks Downgrade
As has been expected for some time, Standard & Poor’s has downgraded the big four Australian banks to AA-. The downgrades don’t imply any deterioration in the quality of the banks. They are related to the new global banking criteria that Standard & Poor’s has implemented and follows the downgrades of various US and European banks on 30 November. The effect on the Tyndall Australian Bond Fund has been minimal. > tell me more >
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Reporting season for “the big four”
The latest round of reporting for the big four Australian banks highlights a few points of weakness in the economy. Consumers, retail, tourism and manufacturing are all showing some signs of stress. However, in general, recovery from the GFC continues to drive down the banks’ loss forecasts. > tell me more >
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tyndall brand update
Tyndall has updated its corporate identity and trading name, representing the final stage in the creation of the business as an independent fund manager in Australia. > tell me more >
Archived News
> tell me more >Australian Shares
- Tyndall Australian Share Portfolio
- Tyndall Australian Share Value Fund
- Tyndall Australian Share Wholesale Portfolio
- Tyndall Australian Share Income Fund
Investment philosophy
Tyndall believes the best results in the future come from identifying value in the market today.
This belief is based on:
Stocks: All stocks have an intrinsic value that with diligent research can be assessed and compared.
Value: Whatever the direction of the share market there are always stocks that represent better value than others, and better value than the market as a whole.
Opportunities: Inefficiencies in the share market, mainly due to human behaviour, create buying opportunities where the prices of some stocks fail to reflect their true value.
Research: To identify those opportunities requires fundamental analysis, involving hard work, skill, experience and judgement.
Investment style and process
Tyndall uses its own internal research process called Comparative Value Analysis (CVA) to identify companies whose shares may represent good value.
This process involves extensive fundamental analysis of all Australian companies under review by a large, skilled and experienced research team. Tyndall’s internally generated research is designed to provide a valuation estimate of a company as a going concern and expected share market returns on a long-term objective basis.
Whilst stock picking via company research is a critical element of our process, portfolio construction is also important. This combines the use of risk management tools and the combined judgement of Tyndall’s experienced team with the objective of maximising returns whilst managing downside risk. Tyndall seeks to find attractive intrinsic ‘value investments’ which offer the best outcome between risk and expected return, given the return objectives and stated risk profile of the Fund.
Tyndall believes the combination of an ‘intrinsic value’ philosophy and a dedication to objectively-based research, whilst incorporating sound risk management, provides a strong basis for good long-term returns.
