Tyndall Investment Management's Wholesale Australian Share Concentrated Income Fund has raised $50 million since its launch at the end of June.
"The institutional concentrated share income fund . we've raised nearly $50 million and we launched in the last four to six weeks. It has been very successful," Tyndall acting managing director and head of retail Craig Hobart said.
Tyndall had been running a similar strategy in mandates for nearly a decade, but only decided this year to bring out a fund for institutional clients.
"We had very good quality conversations with an asset consultant in the development of this [fund] and they identified in their clients that it was a good fit for their needs," Hobart said.
"They've had the benefit of product being built that met their expectations and they immediately had their clients invest in it."
The asset manager launched the Australian Share Concentrated Income Fund on 29 June.
It invests in 15 to 25 of the largest 200 companies on the Australian Securities Exchange and plays into the growing demand for funds that have a bias towards stocks with a high dividend yield.
The fund used an active, bottom-up process and invested in stocks with franking credits or tax-deferred income, and participated in share-buybacks where appropriate, Tyndall said.
In March, Tyndall also launched the Cash Fund for institutional investors as part of its strategy to widen its product range for its clients.
"The genesis of that [fund] was looking across our group of clients and looking at their liquidity requirements and we saw an opportunity for us to deliver a solution that was going to deliver efficiencies for them," Hobart said.
"We've raised over $1 billion in that capability."
