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Gunn Agri Partners

PRI reporting framework 2019

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

  • Each investment goes through a rigorous review process, see table below  
  • The investment committee (IC), which includes an independent director, must unanimously agree to all acquisitions and divestments 
  • The IC is provided details through out the screening and due diligence stages 
  • Independent experts are brought in to assess the operational, environmental and legal risks associated with each transactions
  • A risk analysis is undertaken on all properties as part of the on-boarding process 

 

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Gunn Agri Partners (GAP) is an agricultural investment platform. Investors can gain access to agricultural assets through this platform. Gunn Agri Partners may act as the Manager of these assets or may undertake an oversight function for investors wishing to invest via the platform. The Manager or Gunn Agri role may include any or all of the following functions:

Due diligence and asset acquisition:

  • Advisory and oversight role
  • Asset screening and search
  • Due diligence, data collection and performance modelling
  • Full due diligence with third party consultants / expert sign off
  • Valuation reporting and productivity assessment
  • Oversight of legal executing of transaction

Ongoing management:

  • Business plan for individual assets
  • Portfolio planning
  • Asset level budgeting and planning
  • Operations and weekly management of operations
  • Monthly management reporting
  • Quarterly board reporting
  • CEO, Chairman and director function for investment vehicle

 

1.Investment Mandate

The Investment Mandate between the Manager / Gunn Agri Partners and the investor or group of investors may come via the following forms:

Fund vehicle: co-mingled investment structure

  • very specific mandate
  • mandate is agreed by investors
  • discretion is given to the manager to execute the mandate
  • an independent director is recommended for the board of the Fund vehicle
  • final governance structure agreed via fund documents

Club deal: co-mingled club deal with 2-5 investors

  • focused on a specific investment / asset  
  • the mandate is agreed with club members
  • level of discretion given to manager is outlined via Farm Services Contract or similar legally binding agreement
  • it is usual to have some representation on the Investment Committee / board of the vehicle from the Club Member group  
  • final governance structure agreed via contracts

Separate Account: an investment mandate for one investor

  • focused on specific asset or specific strategy
  • terms and structure dictated to by that investor
  • can range from full discretion to the manager through to any major investment / capex decisions requiring sign off by the Investor or investor representative
  • likely that the board and IC has a representative of the investor
  • final governance structure agreed via contracts

2.Investment Policy requirements

All Gunn Agri farm management or advisory mandates will be administered by specific legal documents and farm / investment management contracts, for example:   

  • Fund Vehicle: Fund and Investment Management Agreement (FIMA), Investor Deed, Trust Deed, Private Placement Memorandum or other such legal contract which binds the fiduciary parties together under a specific investment strategy. This will traditionally include a level of independent oversight such as an independent director sitting on the board and / or Investment Committee.
  • Club deal: Legal contracts binding the parties and detailing what level of authority / discretion the Manager / Gunn Agri has and what the Investment Policy is.
  • Separate account: Legal contracts binding the parties and detailing what level of authority / discretion the Manager / Gunn Agri has and what the Investment Policy is.

It should be noted that any mandate specific Investment Policy cannot contravene the Gunn Agri suite of Policies and Procedures unless the Gunn Agri Partner boards approves this contravention. The umbrella of Policies and Procedures that Gunn Agri Partners adheres to are grouped as follows:

  • Finance Policies
  • Human Resources Policies
  • Operations Policies (including the ESG policy framework)

The complete library of policies can be reviewed upon request.

01.6. Additional information [Optional].

          
        
I confirm I have read and understood the Accountability tab for SG 01 I confirm I have read and understood the Accountability tab for SG 01

SG 01 CC. Climate risk (Not Applicable)


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].

The Gunn Agri mandate is dictated to by the legal documents binding us as the Manager with the Investor or Investor Group for a specific strategy. There are a suite of policies and procedures that must be adhered to under such investment management agreements including the ESG policy. 

The Investment Mandate between the Manager / Gunn Agri Partners and the investor or group of investors may come via the following forms and is provided to any party who reasonably requests it. They are not made available on a public website as this would be seen as marketing and a breach of AIFMD. 

Fund vehicle: co-mingled investment structure

  • very specific mandate
  • mandate is agreed by investors
  • discretion is given to the manager to execute the mandate
  • an independent director is recommended for the board of the Fund vehicle
  • final governance structure agreed via fund documents

Club deal: co-mingled club deal with 2-5 investors

  • focused on a specific investment / asset  
  • the mandate is agreed with club members
  • level of discretion given to manager is outlined via Farm Services Contract or similar legally binding agreement
  • it is usual to have some representation on the Investment Committee / board of the vehicle from the Club Member group  
  • final governance structure agreed via contracts

Separate Account: an investment mandate for one investor

  • focused on specific asset or specific strategy
  • terms and structure dictated to by that investor
  • can range from full discretion to the manager through to any major investment / capex decisions requiring sign off by the Investor or investor representative
  • likely that the board and IC has a representative of the investor
  • final governance structure agreed via contracts 

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

It is important to identify and manage conflicts of interest which arise or may arise in the course of providing a service. A conflict of interest may arise where a company or an employee who, owing a duty to a client, may have personal or professional interests which compete with this duty and may entail a risk of material damage to client’s interests. A situation may be a conflict of interest even if no improper act or disadvantage to the client arises from it.

Gunn Agri Partners Pty Ltd (GAP) is committed to identifying, monitoring and managing all actual and potential conflicts of interest   that   can   arise   between   our   clients   and   us   and   between   clients   in   all   areas   of   our   business.

The purpose of this Policy is to identify and summarize those conflicts which we experience as an organization and how we can address the challenges that such conflicts create. It also provides our clients with appropriate information relating to  the policies we have in place to identify and manage conflicts of interest.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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