Investors in RFM’s Almond Funds (AF06, AF07 and AF08) were last week updated on the positive performance of the almond orchards in 2015 and favourable industry conditions for Australian growers.
RFM Investor Relations Manager, James Powell informed investors that the orchards, managed by RFM and located outside Hillston in the Riverina NSW, had entered a mature phase and were cash flow positive after a successful year, with very high yields and an equally strong almond price.
Investors also heard that the industry outlook for almonds was positive, driven by:
- Long term global almond demand continuing to increase while supply is constrained;
- A declining Australian Dollar, which is favourable for Australian growers as almonds are traded in US Dollars; and
- Difficult drought conditions for Californian growers, source of 80 per cent of the world’s almonds.
RFM National Manager of Almonds, Daryl Winter, provided investors on-farm information and outlined RFM’s drought risk mitigation strategies which were of interest to investors considering the situation in California.
Distributions to Growers in RFM Almond Fund 2006 (AF06), RFM Almond Fund 2007 (AF07) and RFM Almond Fund 2008 (AF08) will be paid by RFM in October 2015.
The 2015 crop outperformed original forecasts of 3.5 tonnes per hectare contained in the funds’ Product Disclosure Statements (PDS), with the orchards this year yielding an average of over 4 tonnes per hectare.
RFM AFSL 226701 as Responsible Entity (RE) for RFM Almond Fund 2006 (ARSN 117 859 391), RFM Almond Fund 2007 (ARSN 124 998 527) and RFM Almond Fund 2008 (ARSN 127 947 960), has prepared this presentation based on information available to it. Although all reasonable care has been taken to ensure that the facts stated and opinions given in this presentation are fair and accurate, the information provided in this presentation has not been independently verified. Accordingly, no representation or warranty, expressed or implied is made as to the fairness, accuracy, completeness or correctness of the information and opinions contained in this presentation.
Whilst RFM has taken all reasonable care in producing the information in this presentation, subsequent changes in circumstances may occur at any time and may impact on the accuracy of the information. Neither RFM or its directors or employees guarantee the success of the Funds including any return received by investors in the Funds.
The information contained in this presentation is by way of general summary only and has been prepared without taking into account any person’s individual objectives, financial situation or needs. Before making any decision to invest a person should consider the appropriateness of the information to their individual objectives, financial situation and needs and if necessary seek advice from a suitably qualified professional.