Other

StockBank Units

StockBank is a fund managed by RFM which purchases livestock that are leased to landowners who are responsible for managing the livestock until they are sold.

StockBank generally divides its investment between approximately 70% cattle and 30% sheep.

Upon sale of the livestock, the accrued lease payments are remitted to StockBank by the selling agent. Importantly, the landowner is contractually obliged to remit to StockBank any shortfall between the livestock sale price and the accrued lease payments.

StockBank is a liquid fund as defined by the Corporations Act. It does not own any land or infrastructure and has a risk management system which focuses on ensuring a geographic diversification of its livestock.

Plant and equipment

The plant and equipment is leased to the RFM Almond Funds and consists of mostly large farm machinery, including almond harvesting equipment, tractors and implements such as sprayers.