Tyndall Investment Management has renamed its VT Tyndall Real Income fund to VT Tyndall Unconstrained UK Income fund.
The renaming is intended to reflect the approach to asset allocation, which the company says is “wholly unconstrained by sector and market cap”. The structure of the fund will not change, continuing to be made of 30-40 UK companies with an active share of around 80%. It currently holds an active share of 89.4%.
See also: Tyndall hires Walker Crips’ Edward Baring and Ed Harvey
The fund, run by Simon Murphy, is open to all sectors or sizes but is currently 75% businesses between £1bn and £5bn.
“When I took over the fund nearly four years ago, I was determined to run a UK income strategy that was markedly different to those of my peers,” Murphy said.
“Cognisant of the highly concentrated nature of the UK stock market, I deliberately seek to diversify further down the market cap spectrum, with no constraints at all as to sector or economic group exposures. Specifically, I aim to deliver a true actively managed fund, significantly differentiated from traditional benchmarks. This approach has served our clients well so far, in some of the more challenging market environments of my career.”
As of 15 December, the fund has returned 16.58% in the past year compared to 5.65% for the sector.
Theresa Russell, head of distribution at Tyndall, said: “The fund has a solid base of investors who seek to diversify their income streams away from the FTSE 100 names that dominate so many UK equity income funds.
“Simon is unafraid to invest away from his peer group, and the fund’s new name describes much more accurately what he is trying to achieve, namely sustainable yield and dividend growth from a select group of businesses, regardless of where they might sit within the UK market.”
