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Ag property fund attracts super cash

09 Nov, 2009 11:37 AM
The Melbourne-based Sustainable Agriculture Fund is on the hunt for agricultural property nationwide after successfully raising $135 million from some of Australia's biggest institutional investors.

The Australian Financial Review reports that Australian Super, one of the biggest superannuation funds in the country, has poured $40 million in, Auscoal Super has put in more than $25 million and the Catholic Retirement and Superannuation Fund $30 million.

Joining them is AMP's $22 billion investment platform called Future Directions. It will chip in an initial $25 million followed by a second round of about $15 million.

The unlisted fund, which will focus on cropping and livestock, is targeting properties from the wheatbelt in Western Australia to dairy properties in Victoria and beef cattle stations in far north Queensland and is estimating returns of up to 13 per cent per annum.

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This is the beginning of the end for the Rudd government's plan. When the ETS forces down the price of agricultural land these superannuation funds, using the money which Hawke's compulsory super gouged from workers, will be able to purchase most or eventually all of Australia's agricultural land. They already hold a controlling interest in most of our major companies, so this would virtually complete the "socialisation" of Australian industry. And there we see an explanation for Rudd's haste in forcing on us a massive policy change founded in bogus science. This will bring the Marxists in the ALP close to the end of their "long march".
Posted by Ted O'Brien., 10/11/2009 4:20:43 AM
Oh Ted, not more conspiracy nonsense! On what data did you rely in writing "(superannuation funds) already hold a controlling interest in most of our major companies"? This is total garbage. Even a cursory glance at the statistics would have informed you.
Posted by Bushie Bill, 10/11/2009 1:02:41 PM
Bushie Bill. You don't seem to know what a controlling interest is. Look back to the history of Hazelton Airlines. As for conspiracy, perhaps you used a different dictionary.
Posted by Ted O'Brien., 10/11/2009 2:14:43 PM
I suggest you reread your own email, Ted, and answer honestly: 1. Do you seriously contend that an uninterested reader would not conclude that your comments reek of conspiracy fears and theories? ("beginning of the end for the Rudd government's plan", "purchase most or eventually all of Australia's agricultural land", “virtually complete the 'socialisation' of Australian industry", "bring the Marxists in the ALP close to the end of their "long march".) 2. Please list "most of our major companies" in which superannuation funds have a controlling interest. ASX codes will do, to save space. And Ted, you did not answer my original question (on what data did you base your comment), and just for completeness, I do know what a controlling interest is. I spent forty years in a career where this definition was the basic starting point. You mention Hazelton Airlines. I hope you are not claiming reference to a particular experience justifies your wild and incorrect generalisation?
Posted by Bushie Bill, 10/11/2009 6:03:36 PM
I personally believe it is about time more Australians (ie those with Australian super) became part owners in Australian farming businesses. Perhaps then agriculture will be taken more seriously, our farming professionals will come to the forefront and backwards thinkers like 'Mr Conspiracy' will treat agriculture with the respect the industry deserves.
Posted by Max Smart, 11/11/2009 8:10:25 AM
Bushie Bill, you are stuck on your misinterpretation of this word "conspiracy". You are surely not trying to tell us that the Rudd government does not have a plan? So can you give us a better explanation for their determination to pursue a policy which:

1. Is founded in bogus "science", and

2. Will, if enacted as proposed, bankrupt Australia's grazing industries?

And, of course, you are not telling us that this superannuation money is not being assembled for the purpose of purchasing agricultural land at prices which have been depressed by government policy.

If Hazeltons is not a sufficient example for you to comprehend what I am saying, have a look at the Campbell's Soups takeover of Arnotts' Biscuits. If you have been around for 40 years you should be able to remember that.

And, Max, when you refer to farming professionals, are you talking about people who use their own money or people who use other peoples' money?

Posted by Ted O'Brien., 13/11/2009 11:57:33 AM
Ted, it seem the more you are backed into a corner with logic and facts, the shriller and more outrageous you become, and the more conspiracy fears occupy your mind. Every point you make is based on your opinion (not fact) or on some quirky interpretation of some long gone event, tinged with an alarming expansion of a belief in a sinister hidden plot. I remember the Arnotts takeover very well. Pray tell what was wrong with it? You couldn't possibly be suggesting, could you, that our companies should be protected from takeover? Just answer my original and repeated question, Ted, and try to stop obfuscating. You made a bold and unambiguous statement, and you were challenged on it. You now cannot justify your position. Just be man enough to admit it.
Posted by Bushie Bill, 17/11/2009 3:56:54 PM

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