POWERED BY MOMENTUM MEDIA
LGIAsuper taps into changing US food tastes
As demand for fresh food grows in America, LGIAsuper has sought to capitalise on the health trend by becoming one of the first institutional investors to back a strategy to supply produce across the States.
The super fund committed $112 million to Equilibrium Capital Group’s newest fund, which focused on fresh food production in North America, at the same time as announcing a partnership with leading American vegetable grower, The Houweling’s Group.
Houweling’s greenhouses grow sustainable tomatoes and cucumbers year-round and were strategically position across the US to meet leading retailers’ needs.
LGIAsuper chief executive, Kate Farrar, said the investments gave Australians the opportunity to be part of the growth potential of American households’ changing tastes.
“Australians who have visited the United States often comment that the fresh produce doesn’t taste as fresh as it does at home,” she said. “Fruit and vegetables in the US have traditionally been imported from as far away as Mexico or shipped long distances across the US, which reduces freshness and impacts taste.
“Consumers today are demanding a higher standard of freshness and flavour and unique varieties that can only be grown in greenhouses. With more than 325 million residents in the United States this represents a huge growth opportunity for investors.”
Recommended for you
Despite tariff challenges and a weaker US dollar, the investment manager remains optimistic that Asian markets, both big and small, stand to benefit.
The uncertainty surrounding US trade policy is weighing down global growth prospects, KPMG warns.
The US and Europe trade deal represents a significant step forward in resolving trade conflict, but markets have largely priced in the good news already, says the asset manager.
The Australian sharemarket is back to overvalued following the sharp rally since April, but many sectors still offer attractive stocks, according to the research firm.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
