Wholesale investors only, as defined by section 761G of the Corporations Act 2001

The Tyndall Enhanced Cash Fund (formerly ‘SIM Enhanced Cash Trust’) is a managed investment scheme that invests, directly or indirectly, in cash and short-term securities such as promissory and floating-rate notes, short-term bonds and mortgage-backed securities. It is designed for investors looking for a secure investment with superior returns to a bank account.is a managed investment scheme that invests primarily in shares listed on the Australian Stock Exchange (ASX).

Investment objective
The Tyndall Enhanced Cash Fund¹ aims to outperform the UBSA Bank Bill Index, before fees.

Key benefits

• Same day access to funds³. The Fund provides investors with same day access to their funds due to the highly liquid nature of the underlying assets, providing investors with the confidence that they will be able to access their funds when required.
• Competitive return relative to bank bills. The Fund's ability to invest in a range of moderately longer-term high quality investment grade securities, which benefit from paying an additional credit premium, provides it with the potential to generate a superior return to bank bills.
• ‘True to label’ enhanced cash fund. The Fund has been assigned an S&P AAf credit rating. This rating, S&P’s second highest, indicates that the Fund provides a very strong capacity to maintain principal stability and limit exposure to principal losses from credit defaults⁴. One of the characteristics of the Fund is that it must hold at least 60% in securities with a short-term rating of A-1 or better (or long-term equivalent).
• Strong and disciplined risk focus. The Tyndall⁴ fixed income team’s key priorities are liquidity and risk control. If a security’s risk isn’t adequately priced in, the team simply won’t invest in it.The 11-member Tyndall Australian equities team has an average of 16 years’ industry experience and has been working together as a team for an average of eight years.
• Managed by a highly experienced team. The Tyndall fixed income team has an average of 17 years’ investment experience and a long track record in managing cash and fixed income portfolios. The team currently manages approximately $16 billion in cash and fixed income assets.Multi-award winning. The Tyndall cash and fixed income process and team have received numerous high profile industry awards.

Fund characteristics

• Invests in accordance with the guidelines outlined in the S&P Australian and New Zealand Principal Stability Fund Ratings Criteria for a fund with a AAf rating
  Typically invests in cash and securities with an average maturity in a range of benchmark +/-180 days, with 5% of the portfolio maturing within seven days at all times
  Invests in a diverse range of high quality, short-term instruments including bank accepted bills, commercial paper, semi-government promissory notes, floating rate notes and bank deposits
  Same day pricing⁷ and same day access to funds³
  Flexible fee arrangements
  Minimum initial investment amount of $500,000
  Managed using an active, opportunistic and disciplined investment style
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1 ARSN 092 026 349
2 Standard & Poor’s Disclaimer: Analytic services provided by Standard & Poor’s Ratings Services (“Ratings Services”) are the result of separate activities designed to preserve the independence and objectivity of ratings opinions. Credit ratings issued by Ratings Services are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of credit ratings issued by Ratings Services should not rely on any such ratings or other opinion issued by Ratings Services in making any investment decision. Ratings are based on information received by Ratings Services. Other divisions of Standard & Poor’s may have information that is not available to Ratings Services. Standard & Poor’s has established policies and procedures to maintain the confidentiality of non-public information received during the ratings process. Credit ratings may be changed, withdrawn or suspended at any time. Standard & Poor’s (Australia) Pty. Ltd. holds Australian financial services licence number 337565 under the Corporations Act 2001. Standard & Poor’s credit ratings and related research are not intended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act).
3 Same day access applies in normal market conditions.
4 In order to maintain the ‘AAf’ rating, the Trust must comply with certain Standard & Poor’s criteria. The ‘AAf’ rating criteria is available from Tyndall AM.
5 Tyndall Investment Management Limited ABN 99 003 376 252 AFSL No: 237563 (“TIML") is the Investment Manager and Responsible Entity for the Tyndall Enhanced Cash Trust.

6 As defined in section 761G of the Corporations Act 2001.
7 If an investor’s completed Application Form and payment reach SIM at the address shown on the Application Form by 9:00 am Australian Eastern Standard Time on a national business day (ie any business day that is not a national public holiday), subject to clearance of any cheque/s, units are issued based on that day’s allotment price.

^ Fund returns can be volatile. TAML does not guarantee to provide distributions, or the amount of distributions.