Growers in the 2008 Almond Fund operate 206.30 hectares of almond orchards near Hillston, New South Wales.
The Australian almond industry is now Australia’s most valuable horticultural export industry. The Australian Almond Board reported an increase in export sales of 19% to $740 million over the 2015 marketing year, with Australian almonds sold to 50 countries and India comprising close to $200 million in sales. World almond demand has now surpassed production, and according to the Australian Almond Board, sales volumes are constrained by the availability of almonds. Opportunities for growth in production are made possible by cost effective mechanised production systems and Australia’s proximity to major developing markets such as India and China.
The aim of AF08 is to provide investors (Growers) with the opportunity to operate an almond growing business. The business attracts tax deductions supported by…
The aim of AF08 is to provide investors (Growers) with the opportunity to operate an almond growing business. The business attracts tax deductions supported by ATO Product Ruling PR 2010/28.
AF08 Growers participate in the business of growing and selling almonds for the world market. Each Grower is licensed to occupy and farm one or more Almondlots each consisting of an area of 0.2158 hectares (ha). Each Almondlot is planted with approximately 60 almond trees and has sufficient water entitlements delivered via a highly efficient irrigation system to cultivate and farm the trees.
Grower returns are dependent upon the performance of their almond growing business. Returns are generated from the almond sale proceeds, less the annual operating and management costs including the lease of land and operational infrastructure. AF08 terminates on 30 June 2028 with no further obligations to the Growers.
The operational management of AF08 is led by the RFM team. This team has significant expertise in almond orchard design, development and operational management, and is currently responsible for maintaining 600ha of almond orchard at Hillston in New South Wales.
As Responsible Entity, RFM is responsible for orchard operations, maintenance, harvesting, pre-processing and delivery. RFM also manages all accounting and administrative functions of AF08.
AF08 is closed to new investment.
Growers in AF08 have the licence to occupy and operate an area of the Mooral property in Hillston, New South Wales. The Mooral property is…
Growers in AF08 have the licence to occupy and operate an area of the Mooral property in Hillston, New South Wales. The Mooral property is leased from the landowner, Rural Funds Group (RFF), a unit trust also managed by RFM.
Hillston is known as a production centre for agricultural commodities including citrus, wine-grapes, cotton, potatoes and cherries.
RFM, as the Responsible Entity for the Project, has a long term Almond Crop Supply Agreement (Agreement) with Almondco Australia Limited (Almondco), whereby Almondco processes, markets and sell the almonds on behalf of the AF08 Growers.
The almonds from the Project are delivered to Almondco’s processing plant where they are graded according to quality, size and colour. The Agreement obliges Almondco to use its endeavours to sell the almonds at the best price available at the time of sale. As part of this obligation Almondco determines which value added processes should be applied to maximize the value of the almonds.
Growers are required to pay annual fees and expenses, which includes Management Fees, Operating Costs and Licence Fees in accordance with individual agreements entered into…
Growers are required to pay annual fees and expenses, which includes Management Fees, Operating Costs and Licence Fees in accordance with individual agreements entered into with RFM. The fees may be deducted from returns on the investment. In the years in which a Grower’s proceeds from the sale of almonds exceeds their fees and expenses, a statement will be sent showing the amounts of revenue, annual fees and expenses and payment will be made from the net return.
In the years in which a Grower’s proceeds from the sale of almonds does not exceed their fees and expenses, a statement will be sent showing the amount of the revenue and the annual fees and expenses, and an invoice for the balance payable will be sent by 1 July of that year which shall fall due for payment on 31 July of that year.
26th March 2018
The 2018 almond harvest commenced in early February and is well underway, with RFM estimating that the harvest will be 50% complete by the end of March, provided the current dry weather conditions continue.
20th March 2018
The almond harvest which commenced in early February is now in full swing.
1st November 2017
In August 2017, Rural Funds Management Limited (RFM) as responsible entity of the RFM Almond Fund 2006 (AF06), RFM Almond Fund 2007 (AF07) and RFM Almond Fund 2008 (AF08) provided Growers and Advisers 2017 crop estimates as part of the annual webinar update.
23rd August 2017
RFM recently hosted a webinar for RFM Almond Fund Growers and their Advisers which included FY17 unaudited results and future outlook.
4th October 2016
The FY16 financial statements for all Funds managed by RFM are now available.
27th September 2016
The almond orchards located at Hillston and owned by the Rural Funds Group (RFF), are situated close to the Lachlan River.
30th August 2016
Investors in the three almond funds managed by RFM, and their financial advisers, were recently provided an annual update on fund performance, orchard management and future outlook.
9th March 2016
The half year 2016 financial statements for the following RFM managed funds are now available.
16th October 2015
RFM is pleased to announce that the distributions for the RFM Almond Fund 2006, RFM Almond Fund 2007 and RFM Almond Fund 2008 were paid to Growers on, or around, 15 October 2015.
25th September 2015
The full year financial statements for FY15 for the following RFM managed funds are now available.
30th July 2015
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.
4th March 2015
The annual harvest of almondlots licensed to Growers in AF06, AF07 and AF08 commenced earlier than usual in 2015, with around 35 per cent of the crop already harvested.
25th February 2015
The half year reports for FY 2015 for the following RFM managed funds have been released.
27th January 2015
Studies again prove the positive effects of nut consumption - article originally published in 'In a Nut Shell' Summer edition December 2014 by Almond Board of Australia.
15th August 2014
In October 2014, RFM will make distributions to Growers in RFM Almond Fund 2006 (AF06), RFM Almond Fund 2007 (AF07) and RFM Almond Fund 2008 (AF08).
1st August 2014
During July, twelve frost fans were installed on the almond orchards at the Mooral property in NSW.