MILLTRUST INTERNATIONAL
 

MILLTRUST AGRICULTURAL
INVESTMENTS

MILLTRUST AGRICULTURAL INVESTMENTS

Located in London and Singapore, Milltrust Agricultural Investments (MAI) is the advisor to the Milltrust International Managed Investments ICAV Australia and New Zealand Buy & Lease Farmland Funds, and the British Innovation Fund.

Our agricultural strategies offer investors exposure to assets likely to benefit from long-term secular themes such as population growth, changing dietary habits, growing middle classes, and water and conservation management.
The origination of our opportunities benefits from collective local and global networks that have been built up over many years via professional and family association.

The British Innovation Fund focuses on the commercialisation of research emerging out of UK universities across a range of sectors including biotechnology, life sciences, healthcare and agricultural technologies.

Our Funds & Strategies

INVESTMENT UNIVERSE

Australia, New Zealand and Latin America, where we believe there exists comparative advantage in food and fibre production due to climate, land availability and efficient farming practices.

Our Strategies

MAI’s farmland strategies provide investors with exposure to the farmland asset class but with different risk and return characteristics. The MAI approach provides investors with an income generating, inflation adjusted, long duration investment that is lowly correlated with other asset classes.

The strategies focus on identifying high quality and attractively priced farmland assets, and credit worthy and experienced lessees (Buy & Lease strategy) or operating partners (Global Diversified strategy) to lease and manage the farms.

Investments

ESG INVESTING

MAI emphasises a strict environmental, social and governance (ESG) framework and aims to enhance the productivity of its farms.

Key ESG focuses include minimising water usage through efficient irrigation systems, ensuring fertiliser use is within acceptable agronomic guidelines, and prioritising crop/animal health and welfare. All of which our lessees are obliged to report on through periodic agronomic reports.

Our farms are leased to local operators who benefit from the enhanced profitability following completion of development works. These works are undertaken by local contractors, creating jobs in the area.

Finally, Milltrust is highly committed to the OECD’s guidelines for land management and was instrumental in drafting the animal welfare section of these guidelines. Milltrust has been represented at the International Sustainability Unit of the Prince’s Trust.

MAI TEAM

Our team of executive asset managers and advisors have an average of 20 years’ investment management experience and includes specialist farmers, agronomists, financiers and ecologists. Our lessees and operating partners further enhance the collective experience with their track records, skills and local networks.

Fund Terms

Fund profile

Platform:Milltrust International Managed Investments ICAV
Investment Manager:Milltrust International LLP
Investment Adviser:Milltrust Agricultural Investments Ltd
Structure:Open-ended Investment Company
Strategy:Buy & Lease Farmland
Domicile:Dublin, Ireland
Inception Date:13 June 2016
Currency:Local (AUD/NZD)
Share Classes:Class (A), Class (B)
Income Fee:15% of lease income (net of costs)
Performance Fee:15% over Hurdle Rate
Hurdle Rate:5%
Subscription Terms:10 years
Investor Types:For Professional and Accredited Investors Only
Registered for Distribution in:United Kingdom, Ireland

Service Providers

Administrator:MUFG Alternative Fund Services (Ireland) Ltd.
Custodian:Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A.
Auditor:KPMG
Legal:William Fry

STRATEGY

Customised farmland portfolios for investors seeking specific agriculture investment exposures

Welcome to British Innovation

The British Innovation Fund

Despite British universities being consistently high in global rankings, Britain has historically struggled to raise sufficient capital to commercialise its world-class research. The British Innovation Fund supplies capital to support early stage spin out companies forming as a result of this research. The Fund invests into leading British University commercialisation companies and spin out companies emanating from these Universities.

KEY FEATURES

The British Innovation Fund recognises the world-class science and technology development that is being carried out in many of Britain’s top universities. The Fund nurtures impactful, early-stage companies – helping them reach their full potential and guiding them to world-wide recognition and success.

STRATEGY

The Fund carefully picks spin out companies from the established, in-house university commercialisation companies which the Fund has invested in – spin out companies that demonstrate a viable commercial business and are already generating revenue. This significantly reduces investment risks and enhances the probability of outsized returns for investors.

INVESTMENT PROCESS

1) The academics at the universities will bring promising IP and commercially reliable ideas to the attention of the university commercialisation company.
2) The eyes and ears of the experienced technologists and venture capitalists at the commercialisation company view these ideas and invest into the most promising opportunities.
3) The investment advisory committee of the British Innovation Fund assesses the recommendations of the commercialisation companies before deploying capital.

INVESTMENTS

Fund Terms

Fund profile

Platform:Milltrust International Managed Investments ICAV
Investment Manager:Milltrust International LLP
Investment Adviser:Milltrust Agricultural Investments Ltd
Structure:Open-ended Investment Company
Strategy:Commercialisation of research emerging out of UK universities
Domicile:Dublin, Ireland
Inception Date:25 November 2016
Currency:GBP
Share Classes:Class (A), Class (B), Class (C), Class (D)
Management Fee:2%
Performance Fee:20% over Hurdle Rate
Hurdle Rate:8%
Subscription Terms:10 years
Investor Types:For Professional and Accredited Investors Only
Registered for Distribution in:United Kingdom, Ireland

Service Providers

Administrator:MUFG Alternative Fund Services (Ireland) Ltd.
Custodian:Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A.
Auditor:KPMG
Legal:William Fry

FUND PRICES

MAI - Buy & Lease (Australia)

CLASS: A

CURRENCY: AUD

ISIN: IE00BYX19F53

INCEPTION: 30/09/2016

NAV/SHARE: 102.52

DATE: 31/12/2018

MAI - Buy & Lease (Australia) DOCUMENTS

MAI - BUY & LEASE (New Zealand)

CLASS: A

CURRENCY: NZD

ISIN: IE00BYX19G60

INCEPTION: 27/01/2017

NAV/SHARE: 97.29

DATE: 31/12/2018

MAI - BUY & LEASE (New Zealand) DOCUMENTS

BRITISH INNOVATION FUND

CLASS: A

CURRENCY: GBP

ISIN: IE00BYX19D30

INCEPTION: 29/11/2016

NAV/SHARE: 99.08

DATE: 30/04/2019

BRITISH INNOVATION FUND DOCUMENTS

CONTACTS

Milltrust Agricultural Investments Ltd

6 Stratton Street
London W1J 8LD
United Kingdom
Tel: +44 (0)20 8123 8369
Email: info@milltrust.com

Milltrust International Group

East India House
77B Tras Street
Singapore 078978
Tel: +65 6225 3052
Fax: +65 6225 3072
Email: info@milltrust.com