The superannuation fund will invest most of the money in two horticultural aggregations that will be expanded by Costa family-backed investment manager goFARM.
Already a subscriber?Qantas Super plans to generate a higher proportion of returns from the agricultural sector after committing $200 million to the development of high-yielding horticultural crops on properties managed by farmland investor goFARM.
“It’s the first corporate or industry superannuation we’ve partnered with. With our roots in family offices and high net worth investors, we previously have not engaged with this investor base,” he said. “This is a responsible way to spend capital, plus there is the renewable energy optionality in land which is increasingly appealing to the domestic superannuation industry.”
Andrew Spence, chief investment officer at Qantas Super, said its investment in goFARM highlighted the “immense potential of the agricultural sector”.
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