Elana: This Bulgarian land fund has 29,320 hectares of agricultural land at an average price of US$ 1,580 per hectare, and recently reported a turnover increase in Q1 2009 12 times that of the same period in 2008.
Schroders: Raised GBP 3 Billion for an alternative solutions agriculture fund, of which 50% was in emerging markets (15% in Ukraine alone). The fund generated 48% returns from its launch in October 2006, but was forced to close after too many investors ploughed money into the fund to which executives reported that its performance objectives were at risk of being compromised by its size: “Although capacity in the agriculture futures markets has increased from US$ 40 Billion to US$ 200 Billion (from March 2007 to 2008), it has not kept up the pace with investment demand for soft commodities.”
Goldman Sachs: Launched a tradable index now known as Standard & Poo’s Goldman Sachs commodity index (S&P GSCI), in 2007. It comprises of 24 commodities, of which agricultural components were 16.66% (29 May, 2009). For its long S&P GSCI agriculture and short S&P GSCI energy trade, profit since launch was 28.31% (January 2009).
Barings: Headed by Jonathan Blake (who also oversees Barings’ GBP 326.8 Million Global Resources Fund) this GBP 60 Million fund allocated 50% of its investments in emerging markets including Ukraine. By the end of April 2009 (three months after its launch) the fund received an 11.4% return.
Ceres: Allocated 52% in grains and raised US$ 134 Million for this agricultural fund since launching in November 2007. Largest monthly return recorded was 3.81%.
Julius Baer: Its JB EF Agricultural Fund was launched in June 2008 with total assets of US$ 11.47Million, allocating 75% in equity and 25% in commodity exposure.
Sarastini: This AgriSar fund raised GBP 56 Million for its launch in April 2008. The fund manager said in April 2009; “The factors underpinning the prospects for decades are as secure as ever. In the developing markets, yields can be easily improved with basic technologies which can’t be done on US and UK farms.