MILLTRUST AGRICULTURAL INVESTMENTS
Located in London and Singapore, MAI is the sub-advisor to Institutional farmland asset management mandates and to the Irish domiciled Milltrust International Managed Investments collective asset management vehicle (ICAV) New Zealand and Australia Buy and lease farmland Funds, and the British Innovation Fund. The ICAV is a fully-authorised and AIMFD compliant investment company, incorporated in Ireland and regulated by the Central Bank of Ireland. Investments are made directly by the ICAV, or through a series of tax efficient SPVs
MAI has a focus on investments in agriculture, across the value chain, globally. This approach capitalises on the changing demographics of the developing world and aims to provide investors with an income generating inflation adjusted long duration investment that will be lowly correlated with other asset classes.
MAI clients benefit from the tax efficiency, corporate governance, technical oversight and institutional reporting provided either within a tailored segregated account structure or within the ICAV structure.
The investment universe for the farmland strategies is the southern hemisphere where we believe there exists comparative advantage in food production due to climate, land availability and efficient farming practices. Countries which have a strong judicial and land rights system, investor friendly governments, unsubsidised Agricultural sectors, stable political climate, ample water resources and suitable weather. Investment strategies will have exposure to both developed (New Zealand and Australia primarily) and developing (countries of Latin America primarily) markets.
The investment universe for the British Innovation Fund is British University Venture Funds and Spin-out companies emanating from British Universities. The Fund is evenly focused on agricultural and non-agricultural investments including biotechnology, life sciences, agricultural technologies, healthcare, physics etc.
The investment team has an average of 20 years’ investment management experience and consists of experienced Agricultural specialists including an executive management team as well as a panel of advisors. The team works with local partners and lessee operators who have local knowledge and first class reputations in farm management.
Our investment thesis is driven by changing demographics, fast growing populations, by the search for yield, for a long term inflation hedge and by an appetite for real assets and the shift away from the typical private equity structure towards more a direct and longer horizon investment structure.
The MAI investment process is focused on identifying high quality and attractively priced farmland assets. Equally there is a focus on identifying creditworthy and experienced lessees (Buy and Lease strategy) and operating partners (Global Diversified) to lease and manage the farms. In all cases the due diligence emphasises a strict environmental, social and governance framework and aims to enhance the productivity of the land. For Buy and Lease MAI aims to invest in highly productive assets that are located to attract a ready pool of lessee tenants who are able to grow with the portfolio as it expands. For Global Diversified MAI partners with local (usually family office operators) operating partners who are incentivised to grow the value of the assets along with our investment.
The opportunities are focused largely on farmland which has a high productive potential, but is undervalued due to lack of infrastructure, development or management skill, and would benefit significantly from targeted investment, the introduction of state-of-the-art technology and agronomic skills.
The MAI team of executive asset managers and advisors has an average of 20 years investment management experience and includes specialist farmers, agronomists, financiers and ecologists. The local lessees and operating partners further enhance the collective experience with their track records, skills and local networks.
The MAI program offers investors a diversified range of agricultural investment opportunities driven by increased global demand for food and other agricultural commodities. The origination of these investments benefits from our collective local and global networks that have been built up over many years via professional and family association. MAI is investing in the first instance into a range of Australasian and Latin American-focused transactions where its networks have the deepest reach.