MyFarm Investments was established in 1990 by successful farmers, at a time when farm ownership was still beyond most individual investors. MORE
Our Track Record of Returns
Since 2000, returns from NZ dairy farms under MyFarm management have outperformed most other New Zealand asset classes. MORE
Our farming experience and disciplined approach to land management ensures consistent performance and planned productivity growth. Meet the MyFarm team here. MORE
We believe in supporting the local communities in which our farm businesses operate. MORE
MyFarm Investments was established in 1990 at a time when farm ownership was still beyond most individual investors. New Zealand farmland was recognised as a productive, tangible asset that could generate attractive longer-term returns, and would be more accessible via a syndicate investment model into carefully selected farms.
In the early 2000s, Executive Directors, Andrew Watters and Grant Rowan, both Sharemilker of the Year prizewinners joined the company. In 2013, Cliff King retired and his share of the company was purchased by a group of experienced New Zealand business and agribusiness investors, and a group of senior and long-serving MyFarm staff.
Today, MyFarm has $550 million of farm assets under management, and more than 300 syndicate investors in a mix of dairy and sheep and beef farms in New Zealand’s key farming regions.
Return on $1000 invested 1992 - 2014
Since 2000, returns from NZ dairy farms under MyFarm management have outperformed other New Zealand asset classes.
Between 1992 and 2014, MyFarm investors purchased $829 million of farm assets.
The chart at right compares how an investment of $1000 with MyFarm would have performed during this period against the same investment in a number of other asset classes. The returns from each are listed below:
- NZX50 $3,850
- NZX ALL Index $9,500
- 10-Year Government Bonds $3,710
- NZ Dairy Farm (based on Dairy NZ statistics) $10,830
- A MyFarm investment (based on an average of all MyFarm properties) $13,570
As you can see, $1000 invested in a MyFarm dairy investment would now be worth $13,570. In other words, an investment with MyFarm would have multiplied 13.5 times in value. (see Note 1)
Individual Farm Performance
The internal rate of return (IRR) from investing in a NZ dairy farm under MyFarm management is shown in the chart above.
The grey bars show the IRR for each of the 29 farms that have been sold. These farms achieved an average IRR of 23.9% p.a.
The green bars show the IRR for each of the 38 farms that remain under MyFarm management. Based on current market values, these farms have achieved an average IRR of 11.1% p.a. (see Note 2)
The context behind the numbers
In the 1990s, most of our farm investments were dairy conversions – because the value of an existing dairy farm was significantly greater than the cost of buying a sheep and beef farm, and converting it to dairying. Therefore it made good investment sense to find the right farmland for dairy conversion.
By the mid 2000s, more dairy farms were selling at a multiple of their milk solid production, which created opportunities for adding value by increasing production. In round terms, a 20% production gain resulted in 20% capital gain. From a syndicate investment perspective, our focus was on finding existing dairy farms that were performing below their production potential.
From 2009 to 2013, as a result of the global financial crises, farms were selling at below their long-term value. This made capital gains a compelling part of the farm investment story, and MyFarm significantly increased the number of farms under management as a result. It is notable these farms were established with lower debt and a greater focus on paying dividends to shareholders. (see Note 3)
Note 1: The financial data used to calculate this annual return across the portfolio of farms purchased and managed by MyFarm between 1992 and 2014 was provided and peer reviewed by our in-house chartered accountants. MyFarm’s track record data is independently verified every second year.
Note 2: Not included are two Tararua dairy farms, a Northland dairy farm and three Waikato dairy farms. These are farms where MyFarm has not retained the management contract for the operation of the property beyond an initial period of contract and therefore is not in a position to assess its value or performance.
The potential for New Zealand agriculture
New Zealand’s position as an agricultural producer is becoming stronger by the day, as the world struggles to cope with the protein demand created by the growth in middle class wealth. Read more here.
MyFarm Investments has a team of 36, spread across our three offices in Fielding, Christchurch, and Invercargill.
Board & Directors
Grant RowanExecutive ChairmanB.AgSci (Hons), MBA (Distinc)
Grant’s career is built on extensive farming experience that includes bull farming and dairy farming in Manawatu, and dairy farming in Southland. He currently owns three Southland dairy farms totaling 475ha and milking 1450 cows and was also runner-up in the 1998 Sharemilker of the Year competition.
As leader of the farm procurement team, Grant’s hands on experience enables him to cast a meticulous farmer’s eye over potential investment farms. During the past eight years, he has overseen the purchase of 68 farms for investing shareholder funds of approximately NZ$472 million. He also manages a team of 20 responsible for the supervision of 44 dairy farm businesses running a total of 28,700 cows.
Grant has a Certificate in Company Direction from the NZ Institute of Directors.
Andrew WattersChief ExecutiveB.Ag, DipBus, DipBusAdmin
Andrew has extensive experience in practical farming and corporate management. In the mid-1990s, he held roles as Milk Supply Manager and Farm Services Manager with Kiwi Cooperative Dairies (a forerunner to Fonterra) and was instrumental in the development of Fencepost.com, an online dairy business management system.
He is a recipient of the coveted Nuffield Scholarship, awarded each year to future leaders within our primary industries. He and his wife Alison also won the New Zealand Sharemilker of the Year title in 2003, and still own a dairy farm milking 600 cows in the Wairarapa district of the North Island.
At MyFarm, Andrew is responsible for new business development and communication with the investor community on commodity price and farm investment trends. Under his leadership, MyFarm consistently raises NZ$40-$50 million per annum from private and institutional investors for investment in quality Southland and Canterbury dairy farms. He also led the development of Figured, a new online SAAS farm accounting and management package.
John (JT) MacfarlaneDirectorB.Com, M.Com (Hons)
JT Macfarlane is one of Australia’s most experienced international bankers. Until his retirement in February 2014, he was Executive Chairman and CEO of Deutsche Bank Australia and New Zealand and a member of the Business Council of Australia.
He served as Chief Country Officer of Deutsche Bank Group in Japan for seven years, was a member of the Global Markets and Global Banking Executive Committees, and served two years as Co-Chair of the Asia Pacific Executive Committee prior to moving to Australia in 2007.
Before joining Deutsche Bank in 1999 he was Chief Executive Officer of Bankers Trust New Zealand.
After completing an M. Com (Hons) at Canterbury University in 1982, JT started his career at the New Zealand Treasury before moving on to roles in the USA and Papua New Guinea.
He has had family investments in New Zealand agriculture since 1989, including a number of dairy partnerships, an arable property in Canterbury and a beef and deer property in South Canterbury.
Chairman: AGInvest Holdings Limited (MyFarm Limited) from 3 March 2014
Director: Craigs Investment Partners Limited (18 July 2013)
Director: ANZ Banking Group Ltd (May 2014)
Director: St. Vincent’s Institute of Medical Research (28 July 2008).
Neil CraigDirectorB.Ag Com (Economics)
Neil founded Craig & Co in 1984 and through a series of acquisitions has built the company into a national retail broking business. Craigs Investment Partners is now owned 50% by Craigs staff and 50% by Deutsche Bank, and has 17 branch offices throughout New Zealand.
In addition to his role as Chairman of Craigs Investment Partners, Neil is also Chairman of NZX listed Comvita Limited and the Tauranga-based angel investment group, Enterprise Angels Inc. He is a Director of Pohutukawa Private Equity Limited, AGInvest Holdings Limited, New Zealand Cricket, and a number of other private companies in the horticultural and agricultural sectors. He is also a member of the Institute of Directors.
Paul RichardsonIndependent DirectorB.Sc (Geology)
Paul has had a 22-year career in the New Zealand and Australian finance sectors and is currently a financial consultant and Director of Mint Asset Management.
He spent 10 years working with BT Funds Management, first as Head of Equities responsible for the Australasian share and property funds, and then as Chief Investment Officer. Prior to that he was an Executive Director at UBS, based in Sydney as head of Telecomms research.
Paul is a Chartered Financial Analyst, an Authorised Financial Adviser, a member of the Institute of Directors, the Institute of Financial Professionals of NZ, and the Australasian Institute of Mining and Metallurgy.
GM Agribusiness ManagementB.Ag.Sci
Gareth oversees the operation of all MyFarm farms. He provides support to the Agribusiness Managers and is responsible for developing tools and systems that enable the team to continually improve outcomes for investors.
Gareth’s began his dairy career after completing his degree at Massey University, gaining experience in a number of roles, including sharemilking and farm management. He has worked internationally as a dairy production consultant – a role that took him to Argentina and China where he assisted in establishing the New Zealand model of pastoral dairy production.
Before joining MyFarm in 2008, Gareth was Massey University’s Director of Agricultural Services and responsible for administration of nine farms, covering 2200ha.
Agribusiness Manager, Southland
Wayne has been a member of MyFarm’s Agribusiness Management team since 2011, following two seasons managing 1150-1200 cow operations in Southland.
He joined the dairy industry in 1995, following six years spent travelling in Australia, Asia, the United Kingdom, Africa, and the USA. He started milking cows in the Wairarapa before moving on to a four-year stint with Farmwise as a Dairy Farm Consultant in Taranaki. He then managed a 600-cow dairy farm in Southern Hawke’s Bay for three years. Six years in the building industry followed, before Wayne was attracted back to Southland, where he milked cows for a time, before joining MyFarm, where he oversees seven dairy farms.
Regional Manager, CanterburyFelix's dairy farming career started when he was 18. After working in various herd management and sharemilking positions in the North Islands, he moved to Culverden in 1999 to take up a 450 cow sharemilking role on a conversion property, a position he held for four seasons.After completing a Bachelor of Commerce degree at Lincoln University in his early 30s, Felix became a Dairy Nutrition Consultant for the Dairy Business Centre in Ashburton. he is one of only two New Zealanders who are members of the Australian Association of Ruminant Nutritionalists by examination. His extensive practical and scientific knowledge of cow nutrition is put to good use by the MyFarm team. Felix joined MyFarm in 2012 and is based in Canterbury.
Southland Agribusiness ManagerTeresa joined MyFarm in 2013, having spent two years as a Research Technician with Dairy NZ.
She began her career in Auckland-based marketing and research roles before moving to a position preparing yearlings for the annual thoroughbred sales at Karaka. She made the move to the dairy sector in 2002, spending five years as a herd manager before embarking on a Bachelor of Animal Science degree at Massey Unviversity.
After finishing her degree, Teresa worked on a large dairy conversion at Bulls, before moving to Balclutha to take up her research role with Dairy NZ.
Southland Agribusiness Manager
Charlie’s family has been involved in dairying since moving to New Zealand from Holland in 1982.
After graduating with a Diploma In Agriculture from Massey University, Charlie spent two years milking cows in Waikato, before taking up a manager’s position on a 500 cow property in Eastern Southland. He then managed an 800 cow property at Lochiel, before moving on to a 7-year sharemilking position at Riverton.
Charlie’s next move was to convert 52 hectares at Ermedale (Southland) into a dairy farm, where he now employs a contract milker. He joined the MyFarm team in 2013 and now manages the company’s grazing contracts and oversees two dairy syndicates.
At MyFarm, we’re right behind supporting the communities in which our farm businesses operate.
The following is a list of local causes, events, and activities to which we have contributed most recently.
This fund was launched to support local community projects in Canterbury and Southland.
- May 2013 - Hillside Primary School in Southland (application through Browns Pastoral Ltd Partnership) which received $500 to go towards ICT upgrades.
- April 2014 - AGITO (application through Hurunui Ltd Partnership) which received $500 to fund a seven-day outdoor experience for the top AGITO modern apprentice in the mid North-Canterbury district.
- April 2014 - Roslyn Bush Playcentre (application through Longbush ) which received $650 towards the $8000 cost of weather and bird proofing the verandah area. The Playcentre has 46 children from 25 local families.
As a long time supporter of the NZ Dairy Industry Awards, we’re proud to be associated with an event that showcases and encourages excellence in New Zealand’s dairy industry.
- May 2013 – New Zealand Dairy Industry Awards. MyFarm sponsored the wine for the NZDIA final night dinner in Wellington. ($5000)
- November 2013 - MyFarm becomes an official sponsor of the Otago-Southland Dairy Industry Awards. ($5000)
We hope we’ll never need one but it’s always good to know it’s there if we do.
From May 2013 to February 2014, MyFarm donated $1500 to the Southland and Manawatu Rescue Helicopter Trusts.
June 2013. Mary and Elliot Cooper run a six-week calf-rearing programme on their Hastings property for students from Flaxmere School – many of whom have never had the opportunity to raise animals. Calf milk is donated by Fonterra and the children’s lunches by Rural Women.
MyFarm donates the cups and ribbons for the School Calf Day held at the conclusion of the programme.
October 2013. MyFarm’s donation of $1100 was to support emerging talent and encourage more people to study for careers in agriculture.
December 2013. MyFarm was happy to support the efforts of the local Filipino community in Culverden in raising funds for disaster relief after the flooding in the Philippines. Our donation of $500 towards St Johns Memberships for the fundraising auction was designed to make membership of St Johns an affordable option for local families.
Motatapu Multi Sport isn’t for the faint hearted. Months of training went into this event. Lunchtimes were spent either running, cycling or swimming to ensure the team were at their peak for this event. A great support crew turned up to lend their help. Bumps, bruises and knocks were all part of the event, but this hasn’t deterred some of the team thinking of going back again.
Three keen MyFarm Mountain Bikers tackled the St James Cycle Trail in North Canterbury. With only minimal amounts of cramps and crashes, Grant Payton, Gareth Evans and Felix McGirr completed this 64km trail with its stunning mix of scenery including mountain peaks, crystal clear rivers and high country lakes.
Two MyFarm teams competed in the Round the Mountain relay event November 2012. This was a weekend long event, with the MyFarm team bunking down in New Plymouth. Tired sore bodies entered the office Monday morning with one team happy with their 11th placing.
The tough guy girl challenge was completed by some of the enthusiastic MyFarm team on a warm winters day.
Think army assault course - Mud running, belly crawling and rope climbing and a lot of laughs along the way.
Talk with our Farm Investment Team
To find out more about land-based investment or MyFarm investment opportunities, please get in touch with us directly.
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