Additional Information to the Product Disclosure Statement

• Tyndall Australian Share Portfolio - ARSN 090 781 678
• Tyndall Australian Share Value Fund - ARSN 091 002 363
• Tyndall Australian Share Wholesale Portfolio - ARSN 090 089 562
• Tyndall Australian Share Income Fund - ARSN 133 980 819
• Tyndall Australian Bond Fund - ARSN 098 736 255
• Tyndall International Bond Fund - ARSN 098 735 758
• Tyndall Diversified Bond Fund - ARSN 098 735 909

Click here to download the Tyndall Investment Funds' Additional Information to the Product Disclosure Statement.

This additional information forms part of each of the Product Disclosure Statements (PDS) issued on 12 December 2011 by Tyndall Asset Management Limited ABN 34 002 542 038, AFSL 229664 (referred to as ‘Tyndall’, ‘we’, ‘us’ or ‘our’ throughout this document) for the funds listed above (collectively referred to as the ‘Tyndall Investment Funds’ or the ‘Funds’). You should read this information together with the applicable PDS before making a decision to invest in a Fund.

This additional information is general information only and does not take into account your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances.

• Adding to your investment

  Additional investments can be made by:

  • Cheque marked not negotiable and payable to Tyndall Asset Management Limited.
  • Direct debit from your nominated account. Please complete a Direct Debit Authority included in the Application Booklet available at www.tyndall.com.au/pds or on request from Tyndall Investor Services.
  • Electronic Funds Transfer (EFT). Please contact Tyndall Investor Services for account details and instructions for making an investment by EFT and confirming that a deposit has been made to the account.
  • BPAY®. Please quote your Reference Number and the Biller Code corresponding to the Fund you are investing in as follows:

  Reference Number: Your nine digit Investor Number
  Biller Code:
  Tyndall Australian Share Portfolio	189910
  Tyndall Australian Share Value Fund	189928
  Tyndall Australian Share Wholesale Portfolio	189936
  Tyndall Australian Share Income Fund	189951
  Tyndall Australian Bond Fund	189993
  Tyndall International Bond Fund	190009
  Tyndall Diversified Bond Fund	190017

   

  Investments made by BPAY® will be processed once we receive your funds. Please note that, although your BPAY® transaction is processed from your financial institution account immediately, your funds may take some time to be transferred to us from your financial institution. Typically, if your BPAY® request is made before your financial institution’s cut-off time (usually 5:00 pm Sydney time), we will receive your funds the following business day.

  BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518

  Additional investments are made on the basis of the applicable Fund’s PDS current at the time the investment is received. Please ensure you have viewed or obtained a copy of the current PDS before making an additional investment. The latest PDSs are available at www.tyndall.com.au/pds or on request from Tyndall Investor Services. 

  Regular Savings Plan (for the Tyndall Australian Share Portfolio only)
  The Regular Savings Plan allows you to add to your investment in the Tyndall Australian Share Portfolio on a regular monthly basis. The minimum investment is $100 per month.

  To start a Regular Savings Plan please complete a Direct Debit Authority included in the Application Booklet available at www.tyndall.com.au or on request from Tyndall Investor Services.

  Requests to start a Regular Savings Plan received before the 5th day of a month, will be set up ready for direct debits from your nominated financial institution account to commence that month, otherwise direct debits will commence the following month.

  Money is debited from your nominated Australian bank, building society or credit union account on or around the 15th day of each month. If the 15th is not a business day, the deduction will be made on the first business day after the 15th. You must be the owner or co-owner of the account from which amounts are to be debited.

  Please note, you may be charged a direct debit failure fee if you have insufficient amounts in your nominated financial institution account at the time a direct debit is processed. This fee is charged by the financial institution. Please contact your financial institution for further details. We may cancel your Regular Savings Plan if a direct debit is unsuccessful for two consecutive periods.

  Units in the Tyndall Australian Share Portfolio are issued to you on the day the money is deducted from your account, at the purchase price applying for that date. Investments are made on the basis of the PDS current at the date of each investment. The latest PDSs are available at www.tyndall.com.au/pds or on request from Tyndall Investor Services.

  You can suspend, cancel or vary your Regular Savings Plan at any time by giving five days’ prior written notice to Tyndall Investor Services. Your Regular Savings Plan may be automatically cancelled if:

  • you request your Regular Savings Plan to be suspended but don’t provide a date for your regular investments to restart, or
  • you fully withdraw your investment in the Tyndall Australian Share Portfolio and do not specifically make a request for your Regular Savings Plan to continue.

  We reserve the right to suspend, terminate or make changes to the Regular Savings Plan at any time. We will give you 14 days’ advance notice of any changes.

• Withdrawing from your investment

  You can request a withdrawal from your investment by mailing or faxing us:

  • a completed Redemption Request Form, or
  • a letter including your name, Investor Number, number of units  or dollar value to be withdrawn and details of the financial institution account you would like the proceeds to be paid into (if different to the account previously nominated for withdrawals).

  Requests to withdraw must be signed by the appropriate authorised signatory(ies).

  Requests to withdraw received by fax are subject to the terms and conditions set out on the Redemption Request Form. If we receive a withdrawal request from you by fax, you will be taken to agree to these terms and conditions.

  Withdrawals will be paid in Australian dollars.

  Please note, to protect investors from possible fraud, payments will not be made to third parties or financial institution accounts not previously nominated by you and identified in accordance with legislative requirements.

  Minimum balance
  If you request a withdrawal that will result in your remaining balance in a Fund falling below the minimum investment balance we may withdraw your entire balance in that Fund and forward the proceeds to you. The minimum investment balance for each Fund is:

  Tyndall Australian Share Portfolio	$2,000
  Tyndall Australian Share Value Fund	$20,000
  Tyndall Australian Share Wholesale Portfolio	$50,000
  Tyndall Australian Share Income Fund	$50,000
  Tyndall Australian Bond Fund	$25,000
  Tyndall International Bond Fund	$25,000
  Tyndall Diversified Bond Fund	$25,000

   

  Transfer of units
  You can request a transfer of your units in a Fund to a third party by completing a Transfer Form and sending it to Tyndall Investor Services together with an Application Form and Customer Identification Form completed and signed by the party to whom the units are being transferred (if not already an investor in the applicable Fund). Transfer Forms are available at www.tyndall.com.au or on request from Tyndall Investor Services. We reserve the right to refuse a request to transfer units.

  Restrictions on withdrawals
  We may suspend processing withdrawals in exceptional circumstances where we believe it is not in the interests of investors for us to calculate a redemption price. This may occur for example where trading on the stock exchange or market in which a Fund’s assets are traded is closed, restricted or suspended or where the value of a Fund’s asset or assets cannot be promptly, fairly or accurately determined. In these circumstances, any outstanding withdrawal requests will be processed using the next available redemption price.

  Alternative withdrawal procedures will also apply for a Fund if the Fund is determined not to be liquid. Under the Corporations Act a Fund is ‘liquid’ if at least 80% of its assets can be realised at market value within the period specified in the Fund’s Constitution to meet withdrawal requests. If a Fund becomes ‘illiquid’, withdrawal procedures specified in the Corporations Act will apply.

• Fees and costs

  Management cost
  The ‘management cost’ for each Fund specified in the applicable Fund’s PDS comprises:

  • a management fee paid to us as responsible entity for managing and administering the Fund
  • an allowance for administration costs and expenses for example custodian, audit and distribution costs incurred in managing the Fund which we are entitled to be reimbursed for under the provisions of the Fund’s Constitution.

  The management fee is calculated and accrues daily and is paid monthly in arrears from the applicable Fund’s assets. Administration costs and expenses are accrued daily and are generally paid quarterly in arrears.

  Any administration expenses in excess of the amount provided for in the management cost are paid by us from our own resources.

  Transaction costs
  Transaction costs are costs associated with buying and selling a Fund’s assets, including for example commission, brokerage, registration fees and stamp duty.

  An allowance for transaction costs may be made in determining a Fund’s purchase price and redemption price. The difference between the purchase price and the redemption price is known as the buy/sell spread. The use of a buy/sell spread means that transaction costs are paid by investors who are transacting.

  The buy/sell spread is an additional cost incurred by you when you invest in and withdraw from a Fund. The buy/sell spread is retained within the applicable Fund to offset transaction costs incurred and is not a fee paid to us.

  The buy/sell spread may vary from time to time to reflect changes in the transaction costs incurred, or likely to be incurred. The buy/sell spreads currently applying are:

  

  * Effective 1 February 2012.
  The buy/sell spread prior to this date is 0% / 0%.

  Adviser remuneration
  We may pay commission to your adviser for advice he or she provides to you about the Tyndall Australian Share Portfolio or the Tyndall Australian Share Value Fund. The commission rates currently applying are:

  	Upfront	Ongoing
  Tyndall Australian Share Portfolio	Up to 4%	0.5% p.a.
  Tyndall Australian Share Value Fund	Up to 4%	0.0% p.a.

   

  If applicable, upfront commission is paid from the contribution fee deducted from your initial and any additional investments you make and is calculated on the amount invested. For example, if you invest $10,000 in the Tyndall Australian Share Portfolio or Tyndall Australian Share Value Fund your adviser may be paid up to $400 commission. You may negotiate with your adviser to rebate all or part of the commission to you. We will fully rebate the commission to investors who do not have an adviser.

  Ongoing commission is calculated quarterly based on your investment balance in the Tyndall Australian Share Portfolio at the end of each quarter. For example, if your balance is $10,000 your adviser may receive $50 commission for the year. Ongoing commission is paid from our own resources immediately following the end of each quarter. It is not an additional fee or cost to you.

  Product access payments
  We may make product access payments to permit a Fund or Funds to be offered through a wrap account or master trust. We may also make ongoing payments, calculated as a percentage of the annual management cost, to an operator or custodian of a wrap account or master trust. These are known as rebates if passed on to investors or commissions if retained by the operator or custodian. These payments are paid out of our own resources and are not an additional cost to you.

  Alternative forms of remuneration
  We may from time-to-time provide advisers and distributors of the Fund with alternative forms of remuneration, other than commission payments outlined earlier. Remuneration may include indirect payments (such as marketing support payments) and/or non-monetary benefits (such as business and technical support, professional development and conferences). Any amounts and benefits are paid out of our own resources and are not an additional cost to you.

  We ensure that any alternative remuneration arrangements are consistent with the standards set and published by the Financial Services Council (FSC) regarding alternative forms of remuneration. This includes maintaining a register disclosing material alternative forms of remuneration provided. A copy of the register is available on request from Tyndall Investor Services.

  Government charges
  The fees specified in the PDS include the net effect of GST and the benefits of reduced input tax credits where applicable unless otherwise specified.

  Maximum fees
  Each Fund’s Constitution allows us to charge higher fees as outlined in the table below. We will give you 30 days’ advance notice of any increase in the fees actually charged.

  

  1. Calculated on the net asset value of the applicable Fund.
  2. Fee may be indexed in line with changes in the Consumer Price Index from the date of commencement of the Fund.