Perpetual Corporate Trust bolsters presence in agricultural sector

PCT agriculture

Perpetual Corporate Trust

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The Trust Company (RE Services) has been appointed as the Responsible Entity (RE) of the Vitalharvest Freehold Trust (ASX:VTL) managed by goFARM Asset Management Pty Ltd.

Perpetual Corporate Trust General Manager – Managed Fund Services, Vicki Riggio said:

“We are delighted to be expanding into the listed agricultural sector. It is an area we feel is underrepresented in the Australian share market and at present, there are a limited number of ASX listed Agricultural REITs available to retail investors.

“This is Perpetual’s first Listed Investment Trust in the agricultural sector and is the third listed deal Perpetual has made this year, following recent deals with Metrics Credit Partners and Montgomery Global Equities Fund MOGL.”

goFARM Asset Management Pty Ltd is a Melbourne-based, Australian owned, agricultural investor, developer and manager, with a focus on high growth investment opportunities in Australian agriculture.

The trust is a newly established registered managed investment scheme, designed to provide shareholders with a growing income stream and potential for capital growth. The fund recently listed on the Australian Securities Exchange (ASX) after raising $185 million.

Its portfolio consists of seven properties across New South Wales, Tasmania and South Australia with a combined value of $238 million. Costa Group Holdings, one of Australia’s largest growers and packers of fruit and vegetables, is a long term premium tenant.

“We believe this new partnership will pave the way for Perpetual to further strengthen its capabilities in this asset class. We look to work with clients providing innovative products and services, and take all opportunities to broaden our offerings for investors,” Ms Riggio added.

Liza Whitmore, Chair of goFARM Asset Management Pty Ltd said: “This well-diversified portfolio will offer investors exposure to Australia’s largest aggregation of citrus orchards and berry farms located throughout prime growing locations.

“The properties are well established, operationally proven and strategically located with diversity of crop type, climate, water source and end market.

“Our team is experienced in the management, acquisition and development of high quality agricultural properties and will be backed by Perpetual’s deep heritage and experience in the RE space.”

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If you’re looking for help to launch or manage an unregistered investment scheme or holding structure, Perpetual’s experts can help you do it quickly, efficiently and effectively.

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This article has been prepared by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235150 (Perpetual), the responsible entity of the Vitalharvest Freehold Trust ARSN 626 537 362 (Trust) and contains general information only. Any views expressed in this presentation do not constitute a recommendation to act. It is not intended to provide you with financial advice or take into account your objectives, financial situations or needs. Perpetual Corporate Trust financial services are provided by a number of entities, including The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235150 and Perpetual Corporate Trust Limited ABN 99 000 341 533 AFSL 392673. Units in the Trust are issued pursuant to a product disclosure statement (PDS) dated 29 June 2018. Before making an investment decision, you should consider the PDS of the Fund (and any ASX Announcements) and assess whether the Trust is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser. Neither Perpetual (nor any company in the Perpetual Group, being Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantee the repayment of capital or any particular rate of return from the Trust. Neither Perpetual (nor any company in the Perpetual Group) gives any representation or warranty as to the reliability, completeness or accuracy of the information contained in this article.