RFM Almond Fund 2008 ARSN 127 947 960

The RFM Almond Fund 2008 (AF08) is a managed investment scheme that provides investors (Growers) with the opportunity to participate in the business of growing and selling almonds for the world market.

Growers in the 2008 Almond Fund operate 206.30 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.

Fund overview

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…

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Fund Overview

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 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 600 ha 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.

 

Assets/operations

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…

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Assets / Operations

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.

 

Financial information

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…

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Financial Information

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.

Investor information

Information on investor communications and related resources

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Windrows B Block

8th June 2018

Almond harvest video

Click the image below or HERE to view a short video that outlines the almond harvest process and production cycle.

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26th March 2018

RFM Almond Funds – 2018 harvest update

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.

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1st November 2017

Revised FY18 estimated Grower position

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.

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15th August 2014

Almond Fund Presentation Available

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).