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MyFarm share trading shifts to Syndex

MyFarm share trading shifts to Syndex

Syndex launches offering investors the opportunity to trade farm and orchard shares

Syndex, the online investment trading platform, has launched today offering investors the opportunity to buy and sell shares in farms and orchards.

Farm investment company, MyFarm, is the inaugural partner for Syndex’s Agri Syndicate Market.

Syndex will allow people to buy and sell shares in MyFarm’s dairy and kiwifruit investment opportunities. It opened today with shares available for purchase in a new Bay of Plenty kiwifruit syndicate and an established Canterbury dairy farm.

MyFarm has $550 million of rural assets under management, and more than 300 syndicate investors in a mix of dairy, sheep and beef farms and kiwifruit orchards across New Zealand.

Executive Director, Andrew Watters, says Syndex was chosen as its new share trading and management platform for investors in MyFarm Collective Investment Vehicles, which are companies that pool the funds of smaller investors then invest directly into specific MyFarm syndicates.

“We were looking for a way to improve transparency, increase liquidity and more effectively communicate with these smaller, more passive investors,” says Watters.

He says Syndex will transform the investment experience by providing real-time flows of financial information, greater levels of visibility and transparency and making it possible for investors to compare the performance of all their farm investments on the one platform, at any time and any place.

In addition, after completing a brief identification process online, investors can use Syndex to buy or sell shares at any time without engaging a broker.

Watters praises the Syndex team for its vision using digital technologies to support growth and introduce efficiencies to new markets within the finance industry.

“Syndex has a strong founding team with the financial experience and entrepreneurial credentials that will guide the company’s performance as it builds awareness of proportional investments and the opportunities for New Zealand investors.”

Mike Jenkins, Managing Director of Syndex, says bringing a leading investment firm like MyFarm on board was a great endorsement of the new platform.

“We’re delighted to launch by offering New Zealand investors the opportunity to easily invest in the agricultural sector as well as provide MyFarm’s existing investors with greater transparency and an easier way to manage, price and trade their assets,” says Jenkins.

ENDS

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