Share trading in KiwiFruit Fund underway 新西兰成立了猕猴桃交易基金 用来投资猕猴桃果园
▲kiwifruit orchard
The first quarterly auction of shares in the MyFarm KiwiFruit Fund limited partnership will begin mid-morning on November 5 and end two days later.
Wholesale investors intending to bid were required to register ahead of time.
The fund combines 13 Bay of Plenty and four Northland properties growing the SunGold variety along with associated shares in Zespri into what is being promoted as one of NZ’s largest kiwifruit investment entities.
MyFarm KiwiFruit Fund有限合伙企业的第一次季度股票拍卖将于11月5日上午开始，两天后结束。
有意投标的批发投资者必须提前登记。
该基金将13个丰盛湾和4个北国地产结合起来，种植SunGold品种以及Zespri的相关股份，成为新西兰最大的猕猴桃投资实体之一。
▲Sungolen kiwifruit harvest
The orchards were previously MyFarm syndicates established between 2017 and 2022, now aggregated for a combined 160 canopy hectares, which produced over 2 million trays of SunGold earlier this year.
The operating management and leasing of the orchards are well established and experienced and MyFarm will manage the fund.
这些果园以前是2017年至2022年间成立的MyFarm辛迪加，现在总计160公顷，今年早些时候生产了200多万盘SunGold。
果园的运营管理和租赁经验丰富，MyFarm将管理该基金。
▲Golden kiwifruit harvest
Approaching $200 million in assets, the fund is targeting 10% annual return for investors, including cash and capital growth, after fees.
The cash distribution, paid quarterly, is forecast to be around 7.5%.
该基金的资产接近2亿美元，其目标是为投资者提供10%的年回报率，包括扣除费用后的现金和资本增长。
现金分配按季度支付，预计约为7.5%。
▲Golden kiwifruit harvest
The fund aims to hold 15% of its assets in Zespri shares, available only to growers, with historic gross yields of 15-25%.
The fund holds 2.28 million Zespri shares, currently valued at $4.05 a share, and intends to buy more.
该基金的目标是将15%的资产投资于Zespri股份，该股份仅供种植者使用，历史总收益率为15-25%。
该基金持有228万股Zespri股票，目前每股价值4.05美元，并打算购买更多。
▲Kiwi pollen pollination
MyFarm chief executive Andrew Watters said the fund will benefit from scale and lower operating and financing costs than are available from individual partnerships.
Investors in the founding syndicates have received units in the fund equal to the value of their investments in the individual partnerships.
MyFarm首席执行官Andrew Watters表示，该基金将受益于规模以及比单个合作伙伴更低的运营和融资成本。
创始财团的投资者获得的基金份额等于他们在单个合伙企业中的投资价值。
▲RubyRed kiwifruit harvest
Shares in the fund are listed on the Syndex exchange and can be listed for sale year-round, and will be also traded in quarterly auctions, the first of which is in November.
There is a minimum required holding of 20,000 units and minimum investment value of $20,000 and the last traded value was 85c.
该基金的股票在Syndex交易所上市，可以全年上市销售，也将在季度拍卖中交易，第一次拍卖是在11月。
最低持有量为20000单位，最低投资价值为20000美元，最后交易价值为85美分。
▲Sungolen kiwifruit harvest
The fund has $85m in drawn debt and $192m assets, giving a loan to value ratio of 44%.
Investor funds on August 31 were $113m.
该基金有8500万美元的已提取债务和1.92亿美元的资产，贷款价值比为44%。
8月31日，投资者资金为1.13亿美元。
▲Golden kiwifruit after artificial pollination
In the 2024 harvest the MyFarm KiwiFruit Fund orchards achieved an average $152,000/ha orchard gate return and that was about average for Zespri G3 in total.
But the range was $225,000 to $90,000, showing some room for crop improvement across the portfolio.
在2024年的收成中，MyFarm KiwiFruit Fund果园的平均果园门收益为152000美元/公顷，这大约是Zespri G3的平均值。
但该范围为22.5万至9万美元，表明整个投资组合中作物改良的空间。
▲Red heart kiwifruit orchard in Sichuan Province, China
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