The MAFM difference
We have five key commitments
- Research
- Strategy
- Execution
- Risk management
- Communication
Play the video for more on Macquarie's agricultural funds management business or read below for more detail.
Research
MAFM applies a logical process to agricultural research. Our priority is to understand the fundamental drivers and opportunities in the agricultural thematic.
We start with the belief that food prices will increase. We then research all agricultural commodites, to see how well they will perform against this thematic. once we have identified the key production areas of these commodites, we determine which countries have the competitive edge in production. Using our in-house investment management and agricultural expertise we then develop a detailed operational strategy based on the selected commodity and region.
Strategy
MAFM combines research and operational expertise to identify the most logical and complete access to the agricultural investment thematic. We develop products with clearly defined and transparent mandates, offering investors exposure to a diverse set of agricultural products
Execution
MAFM and its associated businesses employ a team of experienced agribusiness professionals. MAFM combines farming and investment management under one roof, providing investors with a single point of accountabiliy.
Risk management
Risk management is integral to everything we do, from the initial product development through to the environmental policies on our properties.
Independent prudential management is key to our success and stability
Communication
MAFMs priority is to build the investment community's understanding of the agriculture thematic. MAFM aims to deliver transparent and clear communications to investors. We have dedicated client service staff to respond to investor queries and provide a high level of proactive service
MAFM operating properties
Feature property
Magnus Aitken
Steam Plains
I grew up on our family property in Western Australia and, after studying at university, moved to New South Wales (NSW) in 1991 to work as a jackeroo. After working through the ranks in the industry, I took on my first manager’s role in 1997. I was employed as manager of Steam Plains with the previous owners in January 2005, along with my wife Sarah, and two daughters Rosie and Phoebe and have continued to manage the property to present.
Steam Plains is located 35km north of Conargo in the NSW Riverina; an area renowned for merino sheep production. The property was purchased by Paraway Pastoral Company (PPCo) in September 2008. In January 2009 we purchased the neighboring property “Euroka” (11,500 hectares (ha)) to take our total area to 46,395ha. Our property is all native, and consists of a mix of open saltbush/cotton bush plains, boree woodlands and sandy pine ridges.
Our core business on Steam Plains is self-replacing merino sheep production for both wool and meat. In addition we run around 1,500 steers and plant 1300ha of irrigated winter crop. We join between 15,000 and 20,000 merino ewes each year, with surplus ewes sold to other PPCo sheep properties, established clients and to local markets. The wether (male sheep castrated as lambs) portion of our sheep are sold annually to re-stockers and processors. Our cattle operation is based on relationships we have developed with two prominent lot feeders, and we grow out feeder steers for them annually on a weight gain basis. Our cropping enterprise consists of irrigated winter cereals and oilseeds, including dual purpose crops which are grazed during the winter months before being harvested for grain in the summer.
We run Steam Plains with a small but dedicated team of four permanent staff including myself. Our focus has always been on developing the property and the business to operate at the highest level of efficiency and profitability, and to be respected as one of the leading operations in the industry. We employ industry leading grazing management and irrigation farming practices, and have developed the property’s infrastructure to a high level of efficiency and productivity which enables us to run large numbers of livestock with a small team of employees.
We take a great deal of pride in Steam Plains and how we are perceived in the community. The enthusiasm and dedication to the pastoral industry which is intrinsic to PPCo has built on this, and continues to gain respect in the industry.
Christian Coffey
Clonagh, Kalmeta and Violet vale stations
My name is Christian Coffey, currently I manage the aggregation of Clonagh, Kalmeta and Violet vale stations with my wife Rebecca and our two children Hannah and Hughen, for Paraway Pastoral Company.
I grew up in Singleton NSW and have always had a keen interest on working on the land after having a lot to do with my families small beef cattle operations. After finishing school in 1995, I started work for the Australian Agricultural Company as a Jackeroo at Austral Downs on the NT / QLD border. I worked on various properties continuously for 13 years for AACo within the Barkly tablelands and the Gulf of Queensland.
In January 2006, my wife Rebecca and myself were promoted to Station Managers of Clonagh station which was a steer growing out property within the AACo group at that time. Since then we have thrived in the role of station management and have had a huge passion and desire in improving and efficiently managing Clonagh.
In March 2009, Clonagh was purchased by Paraway Pastoral Company, and since then my duties were extended to amalgamating Clonagh with neighbouring Kalmeta and Violet vale stations to form one managed property comprising of 8,000 head of breeding cows and 32,000 head of growing out cattle. Paraway has brought a refreshing new motivation and enthusiasm to the both of us and to our staff. The energy and results we are starting to see currently this year are excellent in both our pasture management and cattle performance on the ground. We are also proud of the staff that we are able to attract and retain within our business.
Rebecca and I are very passionate about our staff and we feel that they are the most important ingredient in making Clonagh a successful property. They really have allowed us over the last five years to push hard in improving and managing Clonagh efficiently and bringing it to be one of the leading properties in northern Australia.
Rebecca and I are fully committed to Paraway and love being part of such a new and energetic pastoral company whose new management style with the station manager being the central figure to drive the business forward has been very rewarding both personally and professionally to us.
Our team
We believe that our people are our greatest asset. MAFM is backed by a team with more than 500 years of combined financial and agricultural experience.
Tim Hornibrook
Head of MAFM
Director, Macquarie Agricultural Funds Management Limited, Lawson Grains Pty Limited, Cruzeiro do Sul Grãos Ltda, Paraway Pastoral Company
Executive Director, Macquarie Group
Tim has worked at Macquarie for more than 11 years and has been working in the development of Macquarie's agricultural funds management business since 2004.
Tim has been involved in the development and management of all of MAFM's institutional funds. He maintains ongoing oversight as a director of the operating companies owned by each fund.
Prior to his role with MAFM, Tim was the Head of Macquarie Private Portfolio Management (MPPM). MPPM is an individually managed account business managing portfolios on behalf of investors across Australian and international shares, listed property, listed fixed income and cash.
Tim has a Masters of Business Administration (MBA) from the Australian Graduate School of Management (Australia) and a Bachelor of Arts (Hons) in Psychology from Tulane University (USA).
Simon Aboud
Director, Macquarie Farm Services, Macquarie Agricultural Funds Management Limited, Lawson Grains Pty Limited, Cruzeiro do Sul Grãos Ltda
Division Director, Macquarie Group
Simon has 15 years financial services experience, working for Macquarie for the past 11 years. Simon has led the development and been involved in the implementation of all of MAFM's offerings to institutional investors. Simon also has experience in the structuring and development of investments in the dairy, crop, viticulture and almond sectors
Simon has a Masters of Business Administration (MBA) from the Australian Graduate School of Management (Australia), a Bachelor of Business from the University of Technology (Australia), and a Bachelor of Arts (Hons) in International Business from the University of Humberside (UK).
Carlos Aguiar
Chief Executive Officier, Cruzeiro do Sul Grãos Ltda, Macquarie Consultoria Agrícola e Representaçoes Ltda
Associate Director, Macquarie Group
Carlos has more than 15 years experience in both agricultural and financial investments, most recently in his role as Chief Financial Officer and Investor Relations with BrasilAgro. BrasilAgro is a company listed on the Brazilian Stock Market Exchange (Bovespa). At BrasilAgro, Carlos was involved in developing the business plan, including the acquisition split among eight farms in different regions of Brazil. This included making agricultural investment decisions, hiring key staff, ensuring favourable capital structure of the company, implementing investment, hedging and risk policies, and meeting with investors.
Prior to BrasilAgro, Carlos worked for Cargill Brazil for 10 years. Cargill Brazil is a wholly owned subsidiary of Cargill Inc. with its main business in soybean origination for export and crushing, in addition to sugar, starches, sweeteners, and many other food businesses.
During his time in Cargill, Carlos held the roles of Treasurer, Chief Financial Officer of Cargill Previdência, the Cargill Group Pension Fund, Managing Director of Cargill Bank, and Senior Trader within the Trade and Structured Finance business.
Russell Cavill
General Manager - New South Wales Operations, Macquarie Farm Services
Associate Director, Macquarie Group
Russell holds a business degree and has more than 20 years of experience in agriculture including management of large scale, corporate dairy operations.
Russell began working in agriculture as a dairy apprentice in 1989 and, most recently, was the General Manager of Riverina Milk. Riverina Milk is part of ICM Agribusiness group and is afreestall and pasture dairy. In this role, Russell was responsible for developing plans for the asset, preparing annual budgets and was accountable for the overall performance of the business.
Prior to this role, Russell was the General Manager for ICM Agriculture Pty Ltd having management responsibility for the Cowl Cowl Station, a property with a mix of irrigated and dryland cropping, livestock and permanent crop operations. This role followed a number of years operating livestock and cropping properties along the east coast of Australia, including a senior management role in one of Australia's leading cattle and sheep studs.
Tim de Mestre
General Manager – New South Wales, Macquarie Farm Services
Associate Director, Macquarie Group
Tim de Mestre is responsible for providing a link between the Macquarie Pastoral Fund management team and the New South Wales property managers, as well as overseeing the property business plans and operations.
Prior to joining Macquarie, Tim was the General Manager of Twynam Agricultural Group's operations in both Australia and abroad. Tim has also worked in rural development for the International Finance Corporation (IFC), the International Fund for Agricultural Development (IFAD), AusAID, USAID, and the Prosperity Initiative in Cambodia and Vietnam.
Tim started his career as a grain commodity trader for Cargill and later worked as Commercial Manager for the Swire Group's Clyde Agriculture in Australia. In partnership, Tim also operates a Merino and cattle operation at Bungendore, NSW. Tim went to Canberra Grammar School and graduated from Sydney University with a BA in Agricultural Science.
Michael Feibelmann
General Manager of Finance and Administration,
Macquarie Serviços Agricolas Ltda
Senior Manager, Macquarie Group
Michael has more than 17 years experience working in multinational companies, the majority of which were spent working in agribusinesses and four years in public accounting firms.
His previous experience includes building process flows, implementing ERP and supporting the establishment of administrative, financial and controllership environments at MDM Sementes de Algodão Ltda. (JV between Monsanto Co., Delta and Pine Land Co. and Maeda S.A. Agroindustrial). In this role, Michael also negotiated technology licenses, distribution, manufacturing and sales agreements interacting with several key agribusiness multinational stakeholders. Through his role, Michael helped to grow this business, which ultimately became a market leader and the first cotton seed biotechnology launcher in Brazil.
Michael played a crucial role in the takeover of the company by Monsanto in 2009 and was responsible for the integration, operation and shut down of previous operations. He then worked as Manufacturing Controller for Monsanto Brazil. This role involved providing financial leadership, planning, developing and implementing strategies and business intelligence tools. This was aimed at reducing costs and simplifying operations for all manufacturing areas involving the production of corn, cotton, soybean and sorghum seeds. Michael also headed up key financial planning projects using integrated costing tools and the SAP cost simplification model.
Michael has a degree in Business Administration from the Federal University of Minas Gerais State (Brazil) and an executive MBA in Business Strategy from Fundação Getúlio Vargas (Brazil).
Mona Hibbert
Operational Finance Manager, MAFM
Senior Manager, Macquarie Group
Mona Hibbert joined MAFM in 2007 and was instrumental in implementing the accounting, inventory and payroll systems. Mona is now responsible for the MAFM operating companies day to day accounts, payments and inventories.
Mona has over 30 years experience in accounting and has worked with a wide variety of assets. Prior to joining Macquarie, Mona worked for a hospitality company as the Finance and Human Resources Manager for five years and with Colonial Agricultural Company for five years. In both of these positions Mona was responsible for implementing new accounting systems and improving financial reporting and frameworks.
Daniel Hough
Agricultural Product Specialist (Europe), MAFM
Associate Director, Macquarie Group
Daniel joined Macquarie from a UK based private equity firm who focussed on real asset investments across the emerging market space. In his former role Daniel was Head of Agriculture, and was instrumental in developing an African and Eastern European Agricultural Fund.
Daniel has more than 11 years experience in the financial services industry working for companies such as Arthur Andersen, Deloitte, SABMiller and Chayton Capital.
Daniel was raised on a cattle farm in rural Australia before attending Sydney University and undertaking a bachelor of commerce degree. Daniel has also obtained a Masters of Science (MSC) in Real Estate Investment from the Cass Business School (London) and is a qualified CPA.
Stuart Johnston
General Manager of Business Services, MAFM
Associate Director, Macquarie Group
Stuart is responsible for all farm-based financial information, human resources, risk management and administration.
Stuart joined the business in January 2010 after previously working as an Agribusiness Relationship Manager with the Commonwealth Bank of Australia for two years and Senior Rural Analyst with Mutual Trust for five years. At Mutual Trust, Stuart was responsible for building the farm budgeting and reporting frameworks as well as for implementing performance benchmarking across the 28 farming businesses there.
Stuart has an Advanced Diploma in Farm Business Management from Marcus Oldham College (Australia)
Geoff Murrell
General Manager - Northern, Macquarie Farm Services
Associate Director, Macquarie Group
Prior to his role at Macquarie, Geoff worked for 25 years on large scale cattle properties in Northern Australia, having worked for Stanbroke Pastoral Co. (then owned by AMP) for 17 years and S. Kidman & Co. (family owned company the descendants of Sir Sydney Kidman) for eight years.
Geoff has 15 years experience managing large scale cattle properties, has been chairman of the Barkly Beef Research Advisory Committee for four years. Geoff was also on the Northern Territory Cattleman's Association Executive Committee for two years.
Geoff has an Advanced Diploma of Agriculture (Farm Business Management) from Gatton University of Queensland (Australia).
Sean O'Reilly
General Manager Grains (Australia), Macquarie Farm Services
Associate Director, Macquarie Group
Sean brings more than 20 years of industry experience in agriculture, having held senior agribusiness positions in Australia, the UK and Zimbabwe.
Before joining Macquarie, Sean was Operations Manager for a Western Australian vertically integrated cropping and livestock company. Here, Sean's primary responsibilities were the management of staff and land over a 100,000 hectare area; the development and implementation of operational plans incorporating supply chain management of crops and livestock, and the research and application of new technology and best practice. Sean was also responsible for the preparation and implementation of annual budgets, cash flow projections and reporting.
Sean is experienced in the sale of grains, having worked as a Marketing Manager for the co-operative farms (formerly Farmcare Ltd) in the UK where he was involved in identifying grain markets and supplying these markets from the pooled grain produce from a wide location of geographically dispersed farms.
Sean has excelled in hands on farming, in particular the production of cereals, pulses, oilseeds and fodder crops, and has diverse on-farm risk-reduction experience, human resource and financial management skills.
Sean studied agriculture in the UK and South Africa. He is uniquely experienced in a wide range of agricultural systems in both temperate and tropical environments, and in the corporate agribusiness, family farm and small scale subsistence environments.
Richard Read
Operational Risk Manager, MAFM
Senior Manager, Macquarie Group
Richard Read joined Macquarie in 2007, initially within Macquarie's Corporate Affairs Group, before moving to MAFM in July 2010 to take up his current role as the Operational Risk Manager. Richard is responsible for the Work Health and Safety framework as well as the environmental and animal welfare programs across MAFM's operating businesses in Australia. The role includes supporting the General Managers and Property Managers in ensuring compliance requirements are met. In addition, Richard manages various risk-related projects and oversees the insurance requirements across the business.
Prior to working for Macquarie, Richard worked in an operational risk role for Allied Irish Bank in the UK. Richard has a Bachelor of Business in Accounting and is a qualified Certified Practising Accountant. Richard grew up in the Southern New South Wales country-town of Wagga Wagga. His extended family have farming interests near Wagga Wagga.
Dion Santamaria
General Manager-Finance, Macquarie Pastoral Fund
Senior Manager, Macquarie Group
Dion Santamaria is General Manager Finance for Macquarie Pastoral Fund. Dion is responsible for the financial and management reporting and analysis of the performance of Paraway Pastoral company. Dion initially started to work for Macquarie in 2005, and has worked on the Macquarie Pastoral Fund for three years. Dion has 20 years of business experience across multiple industries. Prior to Macquarie, Dion worked in broad commercial roles for BHP, Deloitte, GE and Spotless.
Dion has a Bachelor of Commerce and Laws, and is a qualified Certified Practising Accountant. Whilst not growing up on the farm, Dion married into a family who run one of Australia's largest family operated stone-fruit farms and packing sheds.
Luciano Seki
Farm Sourcing Manager – Brazil
Luciano Seki has worked in the Brazilian agricultural industry for more than 15 years, gaining practical experience across soybean, corn, cotton, forestry and coffee production. Luciano has coupled his practical experience with a degree in Agronomy.
Lucianos's recent experience has been with a Brazilian listed Stock Market Exchange (Bovespa) company, Vanguarda Agro, focused on the production of soybeans, corn, coffee and cotton. In his role as Regional Operations Manager, Luciano was responsible for the co-ordination and management of the company's Northeast Hub (Bahia, Piaui, Goias and Minas Gerais States), growing cotton, grains and irrigated coffee for export. Previously, he served as Agricultural Planning Manager, where his focus was to analyse new farms for regional expansion, as well as managing the relationship between the company and land owners in lease agreements.
Prior to Vanguarda Agro, Luciano was a Senior Farm Manager at BrasilAgro, also a Brazilian listed company focused on Land development and sugar cane and grains production. In this role he was responsible for the co-ordination and management of one of BrasilAgro´s largest farms in Bahia (31,000 ha), focused on land transformation and growing cotton and grains for export.
Luciano joined Macquarie in 2012 as the Farm Sourcing Manager in Brazil, where his role is to prospect and analyse new farms.
Bruce Terry
Director and Chairman, Paraway Pastoral Company Limited and
Macquarie Agricultural Funds Management Limited
Bruce is currently a non-executive director on the boards of a number of Macquarie Bank's managed investment subsidiary companies.
Prior to becoming non-executive in 2006, Bruce worked for Macquarie Bank for more than 20 years in various senior roles encompassing corporate advisory, market risk management, and overall responsibility for the client service and marketing of a wide range of Macquarie's retail investment products.
Bruce qualified as a chartered accountant with KPMG, with whom he worked for eight years in London and Hong Kong. Bruce received a BA (Hons) in Maths/Physics from York University (UK).
Bradley Wheaton
Agricultural Product Specialist (Americas), MAFM
Associate Director, Macquarie Group
Bradley Wheaton has more than 15 years experience in agriculture, including five years of corporate directorship experience in the agribusiness industry in Australia.
Bradley's experience is broad having been involved in developing agricultural and renewable energy investments in Australia, Africa, South America and the Middle East. He has advised on agriculture policy to government and agriculture industry groups in Australia. Brad also has a solid grounding in agricultural operations management with experience in large scale production, processing and marketing of agricultural products.
He has a Masters of Commerce (Economics) from the Universities of NSW (Australia) and Copenhagen (Denmark), a Masters in International Studies and a Bachelor of Science in Agriculture from the University of Sydney (Australia).
Jock Whittle
Chief Executive Officer, Macquarie Pastoral Fund, Paraway Pastoral Company
Associate Director, Macquarie Group
Jock is Chief Executive Officer of the Macquarie Pastoral Fund and it's operating entity, Paraway Pastoral Company. He was appointed to this role in January 2012. He has worked on the Fund since January 2008 in various roles assisting in the acquisition and operation of the Stations as well as laying the operational frameworks for the Pastoral Fund's assets/properties.
Jock's previous experience includes leading a team of 25 in providing financial services to farming and post farm gate businesses for National Australia Bank's Agricultural business. He was also Commercial manager for Clyde Agriculture, a subsidiary of the Swire Group, which previously owned and operated agricultural assets in NSW and Queensland.
Jock had specific responsibilities for livestock and cropping systems and whole farm performance as well as allocation of capital to new projects or acquisitions.
Jock has a Masters of Business Administration (MBA) from the Australian Graduate School of Management and a Bachelor of Science in Agriculture (Hons) from the University of Sydney (Australia) with a major in Agronomy and Marketing.
Megan Williams
Product Manager, MAFM
Senior Manager, Macquarie Group
Megan Williams joined Macquarie in 2003. Initially, Megan worked within the Finance department of the Infrastructure and Specialised Funds team and in the Banking and Financial Services Research team. Megan then moved into MAFM in 2007, initially in an Investor Relations role and then into her current Product Management position.
Megan is responsible for the management of MAFM's institutional fund offerings. This includes supporting the CEO's and sales teams, managing a range of projects and maintaining the product governance including fund documentation, boards and committees. Megan has a Bachelor of Economics from the University of Sydney and a Masters in Applied Finance from Macquarie University.
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