TSX/NYSE/PSE: MFC SEHK:
945
BOSTON, Oct. 14,
2022 /PRNewswire/ - Manulife Investment Management
today announced two agricultural acquisitions in Fresno County, California, on behalf of
investors. The properties include a 500-acre almond, pistachio, and
citrus orchard and an approximately 900-acre pistachio orchard.
The orchards are favorably located in California's Central Valley, a key U.S.
agricultural and tree nut production region, with high-quality
water rights. In addition, the properties are located in close
proximity to existing farmland properties managed by Manulife
Investment Management's integrated farmland management operations.
The acquired properties add to an existing 22,500 acres of directly
operated pistachio and citrus orchards located throughout
California, providing an
opportunity to benefit from economies of scale in the region.
"We are proud to add these high-quality orchards to our
permanent crop portfolio, managed by our experienced
direct-operation team of agricultural professionals, for the
benefit of our investors," said Oliver
Williams, global head of agriculture investments, Manulife
Investment Management. "We believe that orchards, as a nature-based
solution, can provide both economic returns to our investor clients
along with social and environmental benefits. Producing healthy,
nutritious food while responsibly managing these natural resources
can also contribute positively to vibrant rural communities, such
as the ones surrounding these investments."
Manulife Investment Management manages approximately 400,000
acres of prime farmland in major agricultural regions of
the United States and in
Canada, Chile, and Australia as part of its comprehensive private
markets strategies. It also oversees approximately 6 million acres
of timberland across the United
States, Canada,
New Zealand, Australia, Brazil, and Chile.
About Manulife Investment
Management
Manulife Investment Management is the global brand for the
global wealth and asset management segment of Manulife Financial
Corporation. We draw on more than a century of financial
stewardship and the full resources of our parent company to serve
individuals, institutions, and retirement plan members worldwide.
Headquartered in Toronto, our
leading capabilities in public and private markets are strengthened
by an investment footprint that spans 19 geographies. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
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SOURCE Manulife Investment Management