Timbercorp launches diversified product
Australian agribusiness investment manager Timbercorp is allowing investors to diversify into three different plantation projects - eucalyptus, olives and almonds - via a newly launched product, MultiChoice.
According to Timbercorp, the investment product is a first for agribusiness investment in that it gives investors the chance to diversify their investments.
“MultiChoice enables investors to mix and match their agricultural investments by using any of the four MultiChoice options to create portfolios of lots from each of Timbercorp’s 2002 eucalypt, olive and almond projects,” Timbercorp chief executive Robert Hance says.
Hance says the product is set up in a way that allows investors to retain the tax-effectiveness of investing in single projects.
The agribusiness manager is seeking to raise $60 million in 2002 for investment in its three projects. There are four different plans available: Income, which is skewed towards Almonds and Olives; Growth, which is invests mainly in Eucalypts; Balanced, which invests equally in the three categories; and Growers, which is the investor’s own selection.
Timbercorp has established more than 70,000 hectares of eucalypt plantations in Victoria, South Australia and Western Australia. It also has the first 1450 hectares of a 3500 hectare olive grove at Boort in Victoria, and the first 1150 hectares of a 4000 hectare almond orchard near Robinvale in north-west Victoria.
Timbercorp has already channelled some $330 million of investors’ funds into its projects.
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