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Tyndall hopes to entice fee based advisers

Fund manager Tyndall is taking its funds to the retail market and hopes fee-based advisers use them.

Thursday, May 27th 2010, 5:41AM

Tyndall traditionally has only offered its funds to wholesale investors and to advisers through some of the wrap flatforms.

Now it is offering five funds through RaboPlus's online managed funds platform.

Tyndall managing director Peter Lynn says that stepping into the retail investment market is a significant move for the company.

He says recently there has been an increase in demand from individual investors to have direct access to its products.

"Our association with RaboPlus is our first foray into providing public access to Tyndall funds - we see it as a natural evolution for our company."

He says the current review of New Zealand's financial market has highlighted the different ways the financial services industry structures remuneration and it is moving towards simpler, flatter fee structures.

RaboPlus' approach of no hidden fees or costs fits with Tyndall's usual practice whereby investors pay a fee and it delivers its services.

Lynn says for those advisers that offer a fee for service basis, RaboPlus would be a perfect vehicle for them to go through.

He says when investors put money on a RaboPlus platform through an adviser fee for service, it is clear what the fees have been for.

There is a one off entry fee to the RaboPlus platform and an investment management fee for Tyndall.

"Investors are not hit with any surprises and there is no perception that Tyndall has been recommended because of commissions, our products stand and fall on their own merits," says Lynn.

The five Tyndall equity and bond funds RaboPlus will be offering are: Tyndall Core New Zealand Equity Fund; Tyndall Aggressive Australasian Equity Fund; Tyndall Small Companies Fund; Tyndall Corporate Bond Fund; and Tyndall Income Fund.

No entry fee will apply to the five Tyndall funds until 30 June, 2010. The normal entry fee is 0.75%.

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