Agriculture wins pension fund mandates

Financial Standard | Monday, 28 September 2009

Australian superannuation funds are 18 months behind their UK counterparts which are increasingly awarding mandates to agriculture investments, said an industry expert.

Charlie Blomfield, managing director of Carthona Agriculture, said increasing mandates and interest from pension and sovereign wealth funds into agriculture investments have been one of the key reasons behind the merger between Carthona and Rural Management to form Agricultural Management Company (AMC).

"The main activity we are receiving are from the UK and Middle East, and there's a follow up from European funds and some US funds who are putting their cash [into agriculture investments]," he said.

Blomfield said key areas of investment interest include agriculture land in Australia, South and North America, and throughout Europe.

The managing director of Rural Management Partners (RMP), Chris Evans, said in a statement that the merger will boost the firm's capability in institutional agricultural investment, carbon emissions planning and project private equity fund raising

"The strong global demand for food and agricultural investments has seen the increased need for specialist agricultural advisory and management services. This demand is coming from private equity funds, sovereign wealth funds, institutions and high wealth individuals," he said.

Blomfield said the merger will help the new entity bring management and consultancy services to clients.

"RMP and Carthona have a strong working relationship and this merger will strengthen the service delivery of both companies. AMC will be operating out of Sydney and Brisbane offices."

Chris Evans will be the executive chairman and Charlie Blomfield the managing director of AMC.

Ruth Liew
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