November 18, 2013
Despite concerns over how the country regulates foreign agricultural investments, Duxton Asset Management has invested in seven New Zealand sheep and cattle farms. Duxton which focuses on global alternative investments in agriculture, and emerging markets manages a portfolio of approximately US$620 million. The Singapore-based fund manager has taken a 50% stake in seven farms in the Otago region of New Zealand’s South Island for an undisclosed amount. After dairy, red meat is New Zealand’s second biggest export accounting or US44.3 billion and wool’s exports are worth approximately NZ$699 million per year. Duxton’s chief investment officer states that the manager will be interested in further investments in New Zealand. Duxton’s investments in Australia include a dairy farming operation in Victoria, cereal and lamb production in New South Wales, and fruit orchards in Queensland, and a stake in Rivercorp. Land and Water. Amid the scramble of global giants bidding for control of agricultural assets in Australia and New Zealand, the median price of a hectare of farmland was up 23.7% year on year in the three months through October.
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