Cash fund open to AFAs
Wednesday, October 1st 2014, 12:03PM
Nikko Asset Management’s Tyndall Cash Fund, which was previously only available to institutional investors, is now available to retail investors via AFAS.
This follows some changes to the Fund to comply with regulatory requirements for retail investments.
"We’re pleased to be able to make this high-performing Cash Fund accessible to those seeking both an attractive yield and the flexibility of having their money quickly available,” said Peter Lynn, managing director of Nikko Asset Management New Zealand. “Unlike term deposits, people can take their money out at any time – as fast as at a day’s notice – without any break fees. Other advantages of the Tyndall Cash Fund include its low minimum investment threshold and diversification among issuers. On average it has over 15 issuers, which helps to reduce risk, and the minimum investment is $5000 with no maximum investment level.”
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