October 21, 2008

 

Australia's Macquarie Bank use funds invest in agriculture

 
 

The Macquarie Bank's Pastoral fund, which was set up 18 months ago to invest in agriculture, has nearly raised US$1.3 billion.

 

The fund has already bought seven properties in New South Wales, and plans to buy more sheep and cattle  stations around Australia.

 

The Pastoral Fund Division director Tim Hornibrook says there has been strong investor interest in rural properties.

 

He also said that interest has built over time and what is seen over the last six months and gradually picking pace is a growing interest in farming assets.

 

As people get more comfortable with agriculture, they are also more comfortable that the outlook for soft commodities over the long-term period remains positive.