The Singapore dollar-denominated fund will feed into the Dublin-domiciled First State Global Agribusiness Fund. It invests in companies involved in the production, processing, distribution and marketing of agricultural products.
First State said the fund typically had a portfolio of 20 to 75 stocks and tracks a customised benchmark made up of 75% of the DAXglobal Agribusiness Index and 25% S&P Global Timber and Forestry Index.
It is managed from Australia by Renzo Casarotto and Skye Macpherson and its investment objective is to generate capital growth.
Alexis Ng, managing director for First State in South East Asia, said: “Since soft commodities are a natural extension of the global resources investment universe and the overlap potentially offers many synergies, we believe the launch of an agribusiness fund is a natural fit with our existing global resources strategy, providing more choices to our investors.”
The minimum investment in the fund is S$1,000.
