AFM Fund Profile — Tyndall Australian Share Wholesale Fund

Fund & Manager Details

Key Facts

Fund Type: Single Discretionary/Quantitative: Discretionary
Strategy: Equity Long FUM (millions): AU$444m
Style: Value Fund Inception Date: Since 01 March 1995
Geographic Mandate: Australia Latest Return Date: February 2024
Fund Domicile: Australia Investor Type: Wholesale & Retail
Status: Open Reporting Status: Current

Manager Details and Fund Description

Manager: Tyndall Asset Management Total FUM for all funds:
Manager Overview:
Tyndall Asset Management (Tyndall AM) is an investment team within the Yarra Group. The Tyndall AM investment team has worked together for more than 15 years and has a joint venture with the Yarra Group. This ownership structure ensures alignment of interests and fosters a strong performance culture.

Tyndall AM's Australian share valuation process is based on an intrinsic value philosophy. The team apply an internal research process called 'Comparative Value Analysis' to assess and compare the value of stocks and to identify companies whose shares may represent good value.
Fund/Strategy Overview:
The Tyndall Australian Share Wholesale Fund's primary performance/risk objective is to provide higher than benchmark returns over rolling five-year periods with reasonably controlled volatility for what is a concentrated product. The Fund is a high conviction portfolio characterised by holding a relatively low number of stocks (typically 20-35 stocks).

The Fund is managed using an active high conviction style with stock selection based on a ranking of expected return (i.e. Internal Rate of Return) determined by in-depth fundamental company research with a medium-term outlook.
Other funds operated by manager:
Tyndall Australian Share Income Fund

Investment Details

Investment Terms

Minimum Investment: Minimum Additional Investment: Minimum Term: Investment Frequency:
AU$10,000 AU$1,000 Daily
Regular Savings Option: Regular Savings Min. Amount : Regular Savings Max. Amount : Regular Savings Freq.:
Yes AU$250 Monthly 
Redemption Notice: Redemption Frequency: Notes:
1 Days Daily
Distributions: Distribution Frequency: Last Distribution Date: Last Distribution Amount:
Yes 6 Monthly AU$

Structure

Offshore/Onshore: Fund Structure: Share Classes: Trustee/Responsible Entity:
Onshore Unit Trust AU$ Nikko Asset Management Australia Limited
Administrator: Prime Broker: Custodian: Legal:
BNP Paribas Securities Services N/A BNP Paribas Securities Services Internal & External Legal Panel

Fund Fees

Management Fee: Performance Fee: High Water Mark: Hurdle:
0.8% 0% N/A N/A
Buy Spread: Sell spread: Early Redemption Fee: Fees Notes:
0.250% 0.250% No

Performance & Risk

Returns

Latest Return Date: Latest Result: Fund Inception Date: Annualised Return:
February 2024 -0.22% 01 March 1995 9.41%
Latest 3 Months: Latest 6 Months: Latest 12 Months: Latest 2 Years p.a.:
6.41% 2.50% 2.68% 4.57%
Latest 3 Years p.a.: Latest 4 Years p.a.: Latest 5 Years p.a.: Latest 7 Years p.a.:
7.81% 6.89% 5.92% 5.58%

Performance Statistics

% Positive Months (S.I.): Average Return: Average +ve Return: Average -ve Return:
62.64% 0.84% 3.29% -3.26%
Best Month: Worst Month: Up Capture Ratio (S.I.): Down Capture Ratio (S.I.):
14.54% -25.77% 86.04% 99.63%
Largest Drawdown (S.I.): Longest Drawdown (S.I.): Current Drawdown (%): Current Drawdown (Months):
-46.12% 63 months -0.43% 7 months

Risk

Annualised Standard Deviation (S.I.): Downside Deviation (S.I.): Sortino Ratio (S.I.): -
14.33% 10.24% 0.51 -
Sharpe Ratio (12 months): Sharpe Ratio (3 years): Sharpe Ratio (5 years): Sharpe Ratio (S.I.):
-0.10 0.57 0.34 0.43
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate

Ranking, Research & Availability

Fund Quintile in its Peer Group (Equity Long - Large Cap - Australia) as at February 2024

AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Tyndall Australian Share Wholesale Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.

As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.

1 Year
3 Year
5 Year
7 Year
Tyndall Australian Share Wholesale Fund
ASX200 Total Return

External Research and Ratings: As reported by each Fund Manager.

Morningstar Star Rating: 4 stars, October 2019
Morningstar Analyst Rating: Silver, August 2021
Lonsec: Recommended, September 2021
Zenith: Recommended, June 2021

Availability:As reported by each Fund Manager.

Available on Investment Platforms:
OLIVIA123, BT Wrap, HUB24, Macquarie Wrap, OneVue, Netwealth, Powerwrap, Asgard, IOOF, MLC Wrap, AMP MyNorth, BT Panorama, Colonial FirstWrap, MLC Navigator, Oasis, Ausmaq, OnePath, Mason Stevens, Praemium, ANZ

News & Insights

Where nature meets business: The TNFD framework.
24 Nov 2023 - Tyndall Asset Management
The Taskforce on Nature-related Financial Disclosures (TNFD) is an international initiative that is developing a framework for companies and financial institutions to disclose their nature-related risks and opportunities. Climate and...
Read more...
Australian Corporate Performance in Indigenous reconciliation.
19 Oct 2023 - Tyndall Asset Management
With the upcoming Voice referendum in Australia, the nation stands on the cusp of a significant constitutional change, emphasising the acknowledgment of Aboriginal and Torres Strait Islanders as the original inhabitants and the...
Read more...
Will service stations be stranded assets?
31 Jul 2023 - Tyndall Asset Management
At the same time as we are seeing global policy initiatives seeking to further accelerate the uptake of electric vehicles (EVs), corporate activity in the fuel and convenience retailing sector has stepped up. If the common belief that EVs...
Read more...

Fund Documents

Manager's Report

Product disclosure/IM

Target Market Determination



Fund Performance

Historical Performance (all figures shown here are net of fees unless otherwise stated)

Year Jan % Feb % Mar % Apr % May % Jun % Jul % Aug % Sep % Oct % Nov % Dec % YTD %
2024 1.37 -0.22 N/R N/R N/R N/R N/R N/R N/R N/R N/R N/R 1.15
2023 5.06 -1.62 -0.72 1.59 -2.41 1.97 2.75 -2.86 -1.90 -4.20 2.50 5.20 4.93
2022 -2.39 4.04 5.34 0.06 -1.27 -6.66 2.05 2.00 -5.01 4.77 5.88 -3.30 4.62
2021 0.90 5.35 3.06 2.80 2.63 1.47 0.49 3.28 -0.46 -0.64 -3.20 2.94 19.96
2020 2.73 -9.57 -25.77 11.30 4.12 0.10 -1.99 4.39 -4.13 0.70 14.54 0.60 -8.96
2019 4.49 7.61 -1.01 2.31 0.20 2.73 2.81 -3.38 4.89 0.57 2.82 -2.13 23.60
2018 -1.12 0.29 -3.63 3.91 0.10 3.28 2.21 -1.02 -1.12 -8.85 -5.01 -4.03 -14.67
2017 -0.83 2.30 4.22 2.15 -2.26 0.96 -0.18 -1.04 1.23 4.52 0.70 3.41 16.00
2016 -6.76 -0.96 5.37 1.72 4.22 -3.84 7.21 -1.20 -0.03 -1.40 4.19 6.41 14.82
2015 2.61 6.31 0.72 -3.01 0.68 -5.14 4.89 -7.27 -3.26 4.14 -1.10 2.41 0.99
2014 -3.62 4.44 -0.10 1.59 1.30 -2.14 5.08 0.95 -4.77 3.34 -2.05 3.75 7.42
2013 5.16 5.40 -2.57 5.17 -3.13 -3.46 5.58 2.61 3.06 3.44 -1.15 1.66 23.26
2012 5.30 2.07 1.62 1.38 -7.34 0.14 3.64 2.56 1.42 3.53 0.90 4.13 20.46
2011 -0.31 2.85 1.86 -1.08 -1.52 -1.30 -4.20 -3.52 -5.57 8.55 -4.14 -1.23 -9.92
2010 -5.98 0.75 5.01 -1.62 -7.49 -3.67 5.38 -3.68 4.03 2.04 -0.22 4.09 -2.41
2009 -5.27 -7.19 12.43 5.21 1.85 4.31 9.14 6.67 6.45 -2.53 2.47 5.14 43.78
2008 -8.00 -0.77 -3.05 3.33 0.64 -8.17 -3.58 3.35 -9.18 -9.86 -8.53 0.19 -36.80
2007 2.62 0.85 4.25 2.42 1.85 -0.31 -1.97 2.71 4.39 1.99 -1.40 -1.64 16.64
2006 1.49 0.25 5.46 1.95 -5.14 2.27 -2.22 3.39 0.85 6.52 0.45 3.17 19.45
2005 2.09 4.02 -1.00 -4.61 3.40 5.37 2.46 2.50 4.90 -5.06 3.86 2.02 21.06
2004 -0.83 1.98 2.45 -0.83 1.50 3.12 1.43 1.96 4.35 2.10 4.57 2.89 27.50
2003 -1.72 -4.78 3.82 4.18 1.68 1.88 5.24 3.23 0.36 3.07 -2.83 4.67 19.83
2002 4.34 1.47 1.57 -1.00 3.83 -3.17 -3.41 3.07 -2.96 2.14 1.17 -0.70 6.11
2001 4.43 -1.48 -3.53 5.60 2.63 4.05 -0.71 -2.10 -6.17 7.16 8.41 3.55 22.79
2000 -0.99 -10.87 1.52 2.34 0.25 9.37 2.39 -1.12 -1.61 3.38 2.91 -0.94 5.52
1999 0.62 3.36 -0.04 9.58 -2.37 1.26 1.24 -3.75 -4.32 -1.64 2.43 -0.97 4.77
1998 -0.50 -2.28 2.93 1.21 -1.62 -7.38 -0.37 -11.32 4.60 5.80 3.79 -0.19 -6.52
1997 0.67 4.49 0.91 4.07 6.11 4.16 2.65 -2.77 8.26 -9.57 1.93 5.92 28.81
1996 2.60 1.07 -1.66 4.42 -3.76 0.81 -0.70 3.06 3.38 5.05 2.95 4.10 23.06
1995 N/R N/R -1.27 3.49 -1.69 0.61 1.10 2.53 1.87 -0.84 3.53 2.67 12.46

Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)

Year Jul % Aug % Sep % Oct % Nov % Dec % Jan % Feb % Mar % Apr % May % Jun % FYTD %
2023/2024 2.75 -2.86 -1.90 -4.20 2.50 5.20 1.37 -0.22 N/A N/A N/A N/A 2.31
2022/2023 2.05 2.00 -5.01 4.77 5.88 -3.30 5.06 -1.62 -0.72 1.59 -2.41 1.97 10.03
2021/2022 0.49 3.28 -0.46 -0.64 -3.20 2.94 -2.39 4.04 5.34 0.06 -1.27 -6.66 0.90
2020/2021 -1.99 4.39 -4.13 0.70 14.54 0.60 0.90 5.35 3.06 2.80 2.63 1.47 33.48
2019/2020 2.81 -3.38 4.89 0.57 2.82 -2.13 2.73 -9.57 -25.77 11.30 4.12 0.10 -15.66
2018/2019 2.21 -1.02 -1.12 -8.85 -5.01 -4.03 4.49 7.61 -1.01 2.31 0.20 2.73 -2.56
2017/2018 -0.18 -1.04 1.23 4.52 0.70 3.41 -1.12 0.29 -3.63 3.91 0.10 3.28 11.74
2016/2017 7.21 -1.20 -0.03 -1.40 4.19 6.41 -0.83 2.30 4.22 2.15 -2.26 0.96 23.37
2015/2016 4.89 -7.27 -3.26 4.14 -1.10 2.41 -6.76 -0.96 5.37 1.72 4.22 -3.84 -1.56
2014/2015 5.08 0.95 -4.77 3.34 -2.05 3.75 2.61 6.31 0.72 -3.01 0.68 -5.14 7.95
2013/2014 5.58 2.61 3.06 3.44 -1.15 1.66 -3.62 4.44 -0.10 1.59 1.30 -2.14 17.52
2012/2013 3.64 2.56 1.42 3.53 0.90 4.13 5.16 5.40 -2.57 5.17 -3.13 -3.46 24.53
2011/2012 -4.20 -3.52 -5.57 8.55 -4.14 -1.23 5.30 2.07 1.62 1.38 -7.34 0.14 -7.84
2010/2011 5.38 -3.68 4.03 2.04 -0.22 4.09 -0.31 2.85 1.86 -1.08 -1.52 -1.30 12.37
2009/2010 9.14 6.67 6.45 -2.53 2.47 5.14 -5.98 0.75 5.01 -1.62 -7.49 -3.67 13.48
2008/2009 -3.58 3.35 -9.18 -9.86 -8.53 0.19 -5.27 -7.19 12.43 5.21 1.85 4.31 -17.40
2007/2008 -1.97 2.71 4.39 1.99 -1.40 -1.64 -8.00 -0.77 -3.05 3.33 0.64 -8.17 -12.11
2006/2007 -2.22 3.39 0.85 6.52 0.45 3.17 2.62 0.85 4.25 2.42 1.85 -0.31 26.29
2005/2006 2.46 2.50 4.90 -5.06 3.86 2.02 1.49 0.25 5.46 1.95 -5.14 2.27 17.59
2004/2005 1.43 1.96 4.35 2.10 4.57 2.89 2.09 4.02 -1.00 -4.61 3.40 5.37 29.51
2003/2004 5.24 3.23 0.36 3.07 -2.83 4.67 -0.83 1.98 2.45 -0.83 1.50 3.12 22.91
2002/2003 -3.41 3.07 -2.96 2.14 1.17 -0.70 -1.72 -4.78 3.82 4.18 1.68 1.88 3.94
2001/2002 -0.71 -2.10 -6.17 7.16 8.41 3.55 4.34 1.47 1.57 -1.00 3.83 -3.17 17.44
2000/2001 2.39 -1.12 -1.61 3.38 2.91 -0.94 4.43 -1.48 -3.53 5.60 2.63 4.05 17.48
1999/2000 1.24 -3.75 -4.32 -1.64 2.43 -0.97 -0.99 -10.87 1.52 2.34 0.25 9.37 -6.48
1998/1999 -0.37 -11.32 4.60 5.80 3.79 -0.19 0.62 3.36 -0.04 9.58 -2.37 1.26 14.08
1997/1998 2.65 -2.77 8.26 -9.57 1.93 5.92 -0.50 -2.28 2.93 1.21 -1.62 -7.38 -2.64
1996/1997 -0.70 3.06 3.38 5.05 2.95 4.10 0.67 4.49 0.91 4.07 6.11 4.16 45.44
1995/1996 1.10 2.53 1.87 -0.84 3.53 2.67 2.60 1.07 -1.66 4.42 -3.76 0.81 14.97
1994/1995 N/A N/A N/A N/A N/A N/A N/A N/A -1.27 3.49 -1.69 0.61 1.06