15th August 2019
RFM Almond Funds 2006, 2007 and 2008: Merger presentation recording now available
A presentation explaining the proposal to merge the RFM Almond Funds has been made available to Growers in AF06, AF07 and AF08.
Growers in the 2006 Almond Fund operate 199.25 hectares (ha) 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 the AF06 is to provide investors (Growers) with the opportunity to operate an almond growing business. The business attracts tax deductions supported…
The aim of the AF06 is to provide investors (Growers) with the opportunity to operate an almond growing business. The business attracts tax deductions supported by ATO Product Rulings PR 2006/24 and PR 2006/25.
AF06 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 Groves each consisting of an area of 0.25 ha. Each Grove is planted with approximately 70 almond trees and has sufficient water entitlements delivered via a highly efficient irrigation system to cultivate 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. The AF06 terminates on 30 June 2026 with no further obligations to the Growers.
The operational management of AF06 is undertaken by the RFM team. This team has significant expertise in almond orchard design, development and operation, and is currently responsible for maintaining approximately 600 ha of almond orchards at Hillston in New South Wales.
RFM is responsible for orchard operations, maintenance, harvesting, pre-processing and delivery. RFM also manages all accounting and administrative functions of the AF06.
The AF06 is closed to new investment.
Growers in AF06 have a licence to occupy and operate an area of the Mooral property in Hillston, New South Wales. The Mooral property is…
Growers in AF06 have a 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 AF06, 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 AF06 Growers.
The almonds from AF06 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 Management Fees, Operating Costs and Licence Fees in accordance with individual agreements entered into with RFM. Those fees are…
Growers are required to pay annual Management Fees, Operating Costs and Licence Fees in accordance with individual agreements entered into with RFM. Those fees are invoiced to Growers annually in arrears on 30 June each year. The fees may be deducted from returns on the investment.
15th August 2019
A presentation explaining the proposal to merge the RFM Almond Funds has been made available to Growers in AF06, AF07 and AF08.
11th June 2019
RFM recently released the December 2018 edition of its biannual investor newsletter.
13th December 2018
RFM recently released the December 2018 edition of its biannual investor newsletter.
12th September 2018
RFM recently hosted a webinar for RFM Almond Fund Growers and their Advisers which included FY18 unaudited results and future outlook.
22nd August 2018
The 2018 almond harvest, which commenced in early February, is now complete.
8th June 2018
Click the image below or HERE to view a short video that outlines the almond harvest process and production cycle.
9th May 2018
The 2018 almond harvest, which commenced in early February, is nearing completion.
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.
25th February 2015
The half year reports for FY 2015 for the following RFM managed funds have been released.
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).