About us

about

Rural Funds Management (RFM) is a specialist agricultural fund manager established in 1997.

On this page you will find:

  • Information about RFM;
  • Corporate Governance;
  • Board; and
  • Management team.

RFM manages approximately $1.8 billion of agricultural assets on behalf of retail and institutional investors. RFM has a depth of experience accumulated over 25 years owning, developing and operating Australian farmland, agricultural infrastructure and other assets. Sector experience includes almonds, poultry, macadamias, cattle, cropping, viticulture and water. Assets are located throughout New South Wales, Queensland, South Australia, Western Australia and Victoria.

RFM employs over 150 staff and seeks to maximise returns through its experienced management team including specialist fund managers, finance professionals, horticulturists, agronomists and other agricultural managers. RFM’s company culture is informed by a precision-based approach to asset management and its long-standing motto of “Managing Good Assets with Good People”.

RFM operates from a head office in Canberra, with additional offices in Sydney and regional Queensland.

Rural Funds Management Limited (RFM) is the responsible entity for a number of Funds and has established and oversees the corporate governance of these Funds.

RFM holds an Australian Financial Services Licence authorising it to operate the Funds and has a duty to act in the best interest of Unitholders of the Funds. Each Fund has a compliance plan that has been lodged with ASIC. A copy of the compliance plan can be obtained from ASIC or by contacting RFM.

The RFM Board takes its corporate governance responsibilities seriously. The Board is comprised of five directors and has a mix of the experience and skills necessary to oversee RFM’s corporate governance requirements. This ensures RFM operates with integrity, is accountable and acts in a professional and ethical manner.

The RFM Board works together and their collective ability facilitates effective decision making to lead a viable, profitable and efficient business.

The Corporate Governance Statement was included in the Annual Report prior to FY21. To view previous reports see the publications section for RFF.


Corporate governance related policies

Securities Trading Policy

February 28, 2022
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Risk Management Policy

February 28, 2022
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Continuous Disclosure Policy

February 28, 2022
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Corporate Governance Charter

February 28, 2022
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Conflict of Interest Management Policy

February 28, 2022
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Privacy Policy

February 28, 2022
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RFF Corporate Governance Statement

September 30, 2021
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RFM Whistleblower Policy

June 29, 2021
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RFF Distribution Reinvestment Plan

June 29, 2021
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Diversity Policy

June 29, 2021
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Environmental Policy

June 29, 2021
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Anti-Bribery and Corruption Policy

February 25, 2021
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RFM Financial Services Guide

February 4, 2021
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The RFM Board provides collective expertise in funds management, financial planning and agribusiness. The Board comprises five members, four of whom are independent.

David Bryant
Managing Director
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David established RFM in 1997 and leads the RFM team. David focuses on strategic planning, maintaining key commercial relationships and sourcing new business opportunities.

Guy Paynter
Non-Executive Chair
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Guy Paynter is a former director of broking firm JB Were. Guy brings to RFM more than 30 years of experience in corporate finance. Guy is a former member of the Australian Securities Exchange (ASX) and a former associate of the Securities Institute of Australia (now known as the Financial Services Institute of Australasia). Guy’s agricultural interests include cattle breeding in the Upper Hunter region in New South Wales. Guy holds a Bachelor of Laws from The University of Melbourne. Guy is a member of the RFM Remuneration Committee.

Michael Carroll
Non-Executive Director
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Michael Carroll serves in a board and advisory capacity for a range of agribusiness entities. Michael is Chairman of Viridis Ag Pty Ltd and Australian Rural Leadership Foundation and a Director of Paraway Pastoral Company Ltd, Genetics Australia Co-operative Ltd, Regional Investment Corporation. Former board positions include RFM Poultry, Select Harvests Ltd, Elders Ltd, Sunny Queen Australia Pty Ltd, Tassal Group Ltd, the Australian Farm Institute, Warrnambool Cheese and Butter Factory Company Holdings Ltd, Queensland Sugar Ltd, Rural Finance Corporation of Victoria, Meat and Livestock Australia and the Geoffrey Gardiner Dairy Foundation. Michael’s executive experience includes establishing and leading the National Australia Bank’s Agribusiness division and as a Senior Adviser in NAB’s internal investment banking and corporate advisory team. Prior to that Michael worked for Monsanto Agricultural Products and a biotechnology venture capital company. Michael holds a Bachelor of Agricultural Science from La Trobe University and a Master of Business Administration (MBA) from The University of Melbourne’s Melbourne Business School. Michael has completed the Advanced Management Program at Harvard Business School, Boston, and is a Fellow of the Australian Institute of Company Directors. Michael is the Chair of the Audit Committee and the Remuneration Committee.

Julian Widdup
Non-Executive Director
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Julian Widdup has been involved in the financial services industry for over 25 years. Julian’s current Directorships include Australian Catholic Superannuation & Retirement Fund, Screen Canberra and Cultural Facilities Corporation. Julian is a former executive of infrastructure investment management companies, Palisade Investment Partners and Access Capital Advisers (now Whitehelm Capital) where he was responsible for the acquisition and asset management of major infrastructure assets, risk management, portfolio construction, institutional client management and overseeing all aspects of investment operations. Previously Julian had worked with Towers Perrin (now Willis Towers Watson) as an asset consultant, the Australian Bureau of Statistics and the Insurance and Superannuation Commission (now APRA). Julian brings extensive experience to the RFM board having previously served as a director of Palisade Investment Partners, Darwin International Airport, Alice Springs Airport, NZ timberland company Taumata Plantations Limited, Regional Livestock Exchange Investment Company, Merredin Energy power generation company, Victorian AgriBioscience Research Facility, Casey Hospital in Melbourne and Mater Hospital in Newcastle. Julian holds a Bachelor of Economics, a Master of Business Administration and University Medal from the Australian National University, is a Fellow of the Institute of Actuaries of Australia and a Fellow of the Australian Institute of Company Directors. Julian is a member of the RFM Audit Committee and the RFM Remuneration Committee.

Andrea Lemmon
Non-Executive Director
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Andrea Lemmon was employed by Rural Funds Management Limited (RFM) from its inception in 1997 until her retirement in October 2018. During her tenure with RFM, Andrea held a variety of senior executive roles and was responsible for overseeing RFM’s investment into the macadamia industry. In August 2020, Andrea was appointed the Chair of Marquis Macadamias Ltd , Australia’s largest macadamia processor. Andrea is also a non-executive Director of Marquis Marketing, the company responsible for marketing around 25% of the global macadamia crop. Additionally, Andrea’s extensive experience consists of previously serving as a non-executive director of Perth Markets Ltd and Market City Operator. Andrea holds a Diploma in Financial Planning from Deakin University. Andrea is a member of the RFM Audit Committee and the RFM Remuneration Committee.

The RFM management team comprises of a diverse range of individuals that contribute to both the corporate and operational management of RFM and its investment funds. The average tenure of the RFM management team is over 10 years.

Leadership team

David Bryant
Managing Director
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David established RFM in 1997 and leads the RFM team. David focuses on strategic planning, maintaining key commercial relationships and sourcing new business opportunities.

Tim Sheridan
Chief Operating Officer
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Tim joined RFM in 2008 and is responsible for day-to-day management of all RFM businesses, analysis and execution of acquisitions, negotiation of leases with third party counterparts, and key stakeholder relationships.

Daniel Yap
Chief Financial Officer
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Daniel joined RFM in 2012 and manages the Finance and Accounting team based across RFM’s Canberra and Sydney offices. Daniel oversees the financial performance, taxation, banking, and insurance requirements of both RFM and the funds it manages.

Emma Spear
National Manager - Operations & Company Secretary
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Emma joined RFM in 2008 and is responsible for corporate actions, transaction documentation and the compliance, governance, and risk functions. Emma provides business management and operational support to each of the National Managers of horticulture, livestock, cropping and macadamias.

Daniel Edwards
National Manager - Rural Funds Group
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Dan joined RFM in 2005. Dan is responsible for fund and asset development projects, managing leases with RFF’s counterparts, the development of new and existing assets, financial analysis, operational support, and day-to-day funds management.

James Powell
General Manager - Investor Relations & Marketing
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James joined RFM in 2008 and is responsible for investor relations, corporate affairs, sustainability, and equity raising. James is also involved in strategy development and corporate transactions.

Kristina Smith
National Manager - Human Resources
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Kris joined RFM in 2006 and is responsible for strategic and operational people, safety, and information and communication technology functions.

Operational management team

Daryl Winter
National Manager - Horticulture
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Daryl joined RFM in 2005 and is responsible for the leadership and day-to-day management of RFM’s macadamia developments in the Fitzroy River region in Queensland. Daryl’s role also includes financial and budget management, maintenance of key relationships with suppliers, and property asset development and management.

David Sheridan
National Manager - Livestock
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David joined RFM in 2018 and is responsible for the leadership and day-to-day management of RFM’s livestock businesses. David’s role includes financial and budget management, maintenance of key relationships with customers and suppliers, and property asset management.

Matthew Mitchell
National Manager - Cropping
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Matt joined RFM in 2003 and is responsible for the leadership and day-to-day management of RFM’s cropping businesses. Matt’s role includes on-farm management, the provision of agronomic advice, cotton and grain growing, and water delivery infrastructure management.

Scott Norval
National Manager - Macadamias
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Scott joined RFM in 2017 and is responsible for the leadership and day-to-day management of RFM’s macadamia business. Scott’s role includes leading the development of new macadamia orchards located near Bundaberg and Maryborough, Queensland.

Corporate management team

David Thomson
Senior Business Manager
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David joined RFM in 2007 and is responsible for the operational and asset management of existing cattle and cropping assets. David also manages the banking, insurance, and asset valuation functions.

Scott Roxburgh
Business Manager
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Scott joined RFM in 2010 and is responsible for Rural Funds Group’s financial modelling, investment due diligence, and water portfolio management.

Mengyi Liu
Group Accountant
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Mengyi joined RFM in 2012 and is responsible for the financial oversight of RFM and its subsidiaries, including taxation and the financial aspects of RFM’s Australian Financial Services Licence.

Peter Wong
Finance Manager
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Peter joined RFM in 2017 and is responsible for the financial management of the Rural Funds Group, including all aspects of statutory, management and taxation reporting.

Sandra McBryde
Compliance Manager
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Sandra joined RFM in 2015 and is responsible for the day-to-day management of the compliance and risk framework, including chairing RFM’s Internal Compliance Committee.

Sandra Walton
Investor Services Manager
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Sandra joined RFM in 2017 and is responsible for providing advice and support to new and existing investors, and managing the day-to-day operations of the Investor Services team.

Sam Hazzard
Manager - Mergers and Acquisitions
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Sam joined RFM in 2017 and is responsible for agricultural and financial due diligence of acquisitions and new ventures. Sam provides analytical and operational support to RFM’s livestock operations.

Craig Hall
Communications Manager
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Craig joined RFM in 2019 and is responsible for producing internal and external communications and publications, including financial results presentations, investor updates and newsletters.

Farmers looking at plantation

RFM: managing good assets with good people

Watch videos which demonstrates how RFM's motto influences the companies precision-based approach to asset management.