Despite the widespread withdrawal of funds by investors, Tyndall said it still had positive inflows into its equity products over the first half of 2009.
"We are just about to report our half yearly results and I had a look at our funds flow for that half year and we are well and truly black in terms of net funds flow into our equity products," Tyndall managing director Brett Himbury said yesterday.
Inflows benefited from recent institutional investor mandates, which Himbury described as "voluminous".
"The more astute institutional investors are now tiptoeing back into the market is our experience," he said.
Although the inflow from retail investors has been lower than in previous years, the balance of retail flows is also still positive.
"The start of this financial year has been as good as we have seen it and that has been a function of the equities flows that we are getting," Himbury said. "I'm not sure whether the industry is necessarily experiencing this."
The fixed income business has also performed well, Himbury said.
"We manage over $12 billion in fixed income and not many people actually appreciate that has always been a cornerstone in investors' portfolios," he said.
