First State launches Global Agribusiness fund

First State Investments has added a Global Agribusiness fund to its Dublin-domiciled range.

Open to both retail and institutional investors, the dollar-denominated vehicle is managed by group's Sydney-based global resources team. The fund, which is run by Renzo Casarotto and Skye Macpherson, holds a minimum of 25 stocks and targets companies involved in the production, processing, distribution and marketing of agricultural products. Selecting from a universe of 400 companies, the managers aim to diversify across geography, sectors and market capitalisations. "A combination of rising demand and constrained supply of soft commodities potentially opens up a number of opportu...