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Old Mutual’s Futuregrowth Buys Farms As Food Prices Rise
Futuregrowth Asset Management, a unit of insurer Old Mutual Plc (OML) that oversees 110 billion rand ($13.3 billion) in fixed income investments, is buying farms in Africa to benefit from surging food prices. Futuregrowth’s United Farmers’ Fund has spent 450 million rand buying nine fruit and vegetable farms in South Africa since December 2010. It’s now considering investing in a cattle ranch […]
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