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The manager has lowered the fundraising target for its Australian Farmlands Fund due to restrictions on movement, but says investor appetite for assets remains strong, especially overseas.
Australian currency
Senator Jane Hume, assistant minister for superannuation, argues that the early super withdrawal scheme has gone ‘exceptionally well’ to date with only 0.5% of the whole system’s assets withdrawn.
Meat processing, meat plant, packaged meat
Meat-processing facilities have been identified as hot spots for coronavirus outbreaks since the early stages of the pandemic. The negative impact of this association will have long-term effects.
Windmill, Australian outback
MIRA’s head of agriculture talks to Agri Investor about sustainable farming in the wake of covid-19, and provides an update on fund deployment and plans for a fourth fund.
The federal government plans tighter restrictions on foreign investment in a range of sectors from 2021 – but agriculture will revert to its pre-covid regime.
A combination of factors led JBS to close a processing facility in Queensland this week in a sign of the challenges that Australia’s beef exporters are set to face in the coming months.
Rural lender Rabobank finds that farm profitability is the prime driver of Australian land prices with profits set to remain strong despite the prospect of a global recession.
The A$53bn industry fund says it may have to invest over shorter time horizons if the early withdrawal scheme is extended, despite a desire to extend its ag portfolio.
Timber, wood, timberland, forestry
GPs have told us they have noticed an uptick of interest from new investors, with the smaller end of the market already seeing discounted opportunities.
Changes to financial hardship provisions have seen members affected by covid-19 withdraw significant sums, with the largest funds and those with membership cohorts in struggling industries the hardest-hit.
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