JPT Capital’s Agrifund delivers 12.5%
JPT Capital has announced that its Agrifund has delivered an annual return of 12.5%, and will be distributing a shareholder dividend of 9.25% in the first half of 2012.
The JPT Capital Agrifund, an asset backed fund investing in wheat farming in Australia and the underlying agricultural land, declared that at the year-end of 28 February 2012 it saw pre-tax profits of £2.2m. Agrifund is available to institutional and retail investors via SIPP SASS, direct investment, offshore bonds, charities and trusts investment vehicles.
John Paul Thwaytes, founder of JPT Capital, said: “We are pleased with the performance of the fund. At a time when wheat demand from ASEAN countries is on the increase, where growing populations with rising incomes are increasingly shifting consumption from rice to wheat, we believe we made the right investment decision given Australia’s comparative advantage in wheat production and its proximity to Asia. We are very pleased that we are able to return annual dividends to our shareholders.”
A record Australian winter crop in 2011-12 saw production up 7% on 2010-11. Wheat production in Western Australia, where the Agrifund farm holdings are located, are estimated to have more than doubled on last season.