Tyndall hooks up with Goldman Sachs

Tyndall has ditched the New York-based boutique manager of its global fixed interest portfolio, replacing it with investment banking giant Goldman Sachs.

Tuesday, May 22nd 2012, 6:11AM

Tyndall, which is owned by Japan-based Nikko Asset Management, had previously run its Global Fixed Interest Fund through Fisher Francis Trees and Watts.

However, it has chosen Goldman Sachs Asset Management, which manages over US$300 billion of fixed income assets globally, to run the $160 million fund.

Managing director of Tyndall, Peter Lynn, said the global reach of Goldman Sachs was a factor in the decision, particularly given the concerns in Europe around government bonds.

"We have appointed GSAM as Tyndall's global fixed income manager because of the strong experience of their specialist strategy teams and their truly global approach at capturing sources of added value.

"The main attraction though, was GSAM's focus on risk management, with the construction of a risk budget as the very first stage in the process to the sophisticated performance attribution.

"We view global fixed income as a safe, steady, ‘no surprises' part of a diversified portfolio, so in that regard an emphasis on risk is very important to us and our clients.

"We are confident that GSAM is the pre-eminent partner to safely provide our clients with the best sources of added value in the global fixed income space."

Tyndall has about $3.3 billion under management, of which about $650 million is managed offshore. Nikko bought it in 2010 from Australian financial services firm Suncorp.

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