Global Agriculture ETF - Currency Hedged

OVERVIEW

About

Provides simple, cost-effective and transparent exposure to the largest companies in the global Agriculture sector

Tactical exposure to the global agriculture sector
A core component of a global equities allocation providing transparency and diversification benefits

Advantages

Access – simple way to access a diversified portfolio of the world’s largest agriculture companies
Reduced currency risk – foreign currency exposure hedged to the Australian dollar
Diversification – with a single trade, investors can get exposure to a diversified portfolio of agriculture companies from a broad range of global locations
Cost effective – Fund aims to track the performance of an index (no ‘active manager’ fees)
Larger company exposure – strategy invests only in the most significant agriculture companies globally
No W-8 BEN forms and no US estate tax implications for investors – simplified tax administration, unlike cross-listed alternatives
Liquidity – available to trade on ASX like any share

How to Invest

You can buy or sell units just like you’d buy or sell any share on the ASX
Fund requires no minimum investment

KEY FACTS

Pricing Information 10 December 2019

Current Price
Last Trade*	$5.85
% Change (prev day)	0%
Bid (delayed)	$5.84
Offer (delayed)	$5.86

*Data is delayed by at least 20 minutes.

Download NAV history

NAV
NAV/Unit *	$5.84

* As at 6 December 2019

Profile

Net Assets* ($A)	$21,117,389
Units Outstanding* (#)	3,614,004
Mgmt Costs** (% p.a.)	0.57%
Distribution Frequency	Semi-annual
Distribution Reinvestment Plan (DRP)	Full or partial participation available
Issuer	BetaShares Capital Ltd
Fund Administrator	RBC Investor Services
Custodian	RBC Investor Services
Registry	Link Market Services
Auditor	KPMG

* As at 6 December 2019

**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code	FOOD
Bloomberg Code	FOOD AU
IRESS Code	FOOD.AXW
Trading Hours	10.00-16.00 (AEST)
iNAV IRESS Code	N/A
Market Makers	Deustsche Securities
SMSF Eligible	Yes

Index Information

Index	Nasdaq Global ex-Australia Agriculture Companies Hedged AUD Index
Index Provider	Nasdaq
Index Ticker	N/A
Bloomberg Index Ticker	NQXAUHAN INDEX

Index Methodology

Portfolio Holdings

Top 10 All

Name	Weight (%)
DEERE & CO	8.2
TYSON FOODS INC-CL A	7.3
ARCHER-DANIELS-MIDLAND CO	7.2
NUTRIEN LTD	7.0
KUBOTA CORP	6.1
MARUBENI CORP	4.3
FMC CORP	4.2
HORMEL FOODS CORP	4.0
MARINE HARVEST	3.3
WH GROUP LTD	3.2

Ticker	Name	Weight (%)	Asset Class	Sector	Country	Currency	Shares/Unit (#)	Market Value (AUD)	Notional Value (AUD)
DE UN	DEERE & CO	8.2	Equities	Industrials	United States	USD	7,011	$1,723,495	$1,723,495
TSN UN	TYSON FOODS INC-CL A	7.3	Equities	Consumer Staples	United States	USD	11,672	$1,532,399	$1,532,399
ADM UN	ARCHER-DANIELS-MIDLAND CO	7.2	Equities	Consumer Staples	United States	USD	23,479	$1,514,963	$1,514,963
NTR CT	NUTRIEN LTD	7.0	Equities	Materials	Canada	CAD	21,522	$1,477,985	$1,477,985
6326 JP	KUBOTA CORP	6.1	Equities	Industrials	Japan	JPY	54,800	$1,279,718	$1,279,718
8002 JT	MARUBENI CORP	4.3	Equities	Industrials	Japan	JPY	81,500	$912,891	$912,891
FMC US	FMC CORP	4.2	Equities	Materials	United States	USD	6,118	$888,498	$888,498
HRL UN	HORMEL FOODS CORP	4.0	Equities	Consumer Staples	United States	USD	12,744	$846,366	$846,366
MOWI NO	MARINE HARVEST	3.3	Equities	Consumer Staples	Norway	NOK	18,675	$692,050	$692,050
288 HK	WH GROUP LTD	3.2	Equities	Consumer Staples	Hong Kong	HKD	448,500	$669,390	$669,390
CF UN	CF INDUSTRIES HOLDINGS INC	2.8	Equities	Materials	United States	USD	8,806	$585,348	$585,348
BNZL LN	BUNZL PLC	2.7	Equities	Industrials	Britain	GBP	14,215	$576,580	$576,580
BNR GY	BRENNTAG AG	2.6	Equities	Industrials	Germany	EUR	6,884	$547,687	$547,687
JBSAY UV	JBS SA-SPONSORED ADR EQUITY ADR 0.0	2.3	Equities	Consumer Staples	United States	USD	25,273	$477,708	$477,708
BG UN	BUNGE LTD	2.2	Equities	Consumer Staples	United States	USD	5,975	$467,152	$467,152
MOS UN	MOSAIC CO/THE	2.2	Equities	Materials	United States	USD	16,469	$451,873	$451,873
YAR NO	YARA INTERNATIONAL ASA	1.9	Equities	Materials	Norway	NOK	7,410	$408,870	$408,870
INGR UN	INGREDION INC	1.7	Equities	Consumer Staples	United States	USD	2,848	$360,191	$360,191
BRFS UN	BRF SA-ADR EQUITY ADR 0.0	1.7	Equities	Consumer Staples	Brazil	USD	27,707	$359,015	$359,015
AGCO UN	AGCO CORP	1.5	Equities	Industrials	United States	USD	2,762	$307,217	$307,217
IMCD NA	IMCD GROUP NV	1.4	Equities	Industrials	Netherlands	EUR	2,280	$289,893	$289,893
2282 JT	NH FOODS LTD	1.3	Equities	Consumer Staples	Japan	JPY	4,500	$283,566	$283,566
SMG UN	SCOTTS MIRACLE-GRO CO-CL A	1.3	Equities	Materials	United States	USD	1,791	$264,717	$264,717
DAR UN	DARLING INGREDIENTS INC	1.0	Equities	Consumer Staples	United States	USD	5,899	$207,976	$207,976
2810 JT	HOUSE FOODS GROUP INC	1.0	Equities	Consumer Staples	Japan	JPY	3,900	$203,177	$203,177
UNVR US	UNIVAR INC	0.9	Equities	Industrials	United States	USD	5,636	$195,651	$195,651
SAFM UW	SANDERSON FARMS INC	0.9	Equities	Consumer Staples	United States	USD	807	$195,618	$195,618
2811 JT	KAGOME CO LTD	0.8	Equities	Consumer Staples	Japan	JPY	4,700	$169,783	$169,783
PEP MK	PPB GROUP BERHAD	0.8	Equities	Consumer Staples	Malaysia	MYR	26,060	$168,863	$168,863
SALM NO	SALMAR ASA	0.8	Equities	Consumer Staples	Norway	NOK	2,261	$164,679	$164,679
PBH CT	PREMIUM BRANDS HOLDINGS CORP	0.8	Equities	Consumer Staples	Canada	CAD	1,640	$164,109	$164,109
GNS LN	GENUS PLC	0.8	Equities	Healthcare	Britain	GBP	2,716	$161,979	$161,979
BAKKA NO	BAKKAFROST P/F	0.8	Equities	Consumer Staples	Faroe Islands	NOK	1,574	$161,254	$161,254
IOI MK	IOI CORP BHD	0.7	Equities	Consumer Staples	Malaysia	MYR	92,400	$147,405	$147,405
CWK LN	CRANSWICK PLC	0.7	Equities	Consumer Staples	Britain	GBP	2,232	$137,754	$137,754
8012 JT	NAGASE & CO LTD	0.6	Equities	Industrials	Japan	JPY	6,000	$134,818	$134,818
PPC UW	PILGRIM'S PRIDE CORP	0.6	Equities	Consumer Staples	United States	USD	2,603	$122,718	$122,718
OCI NA	OCI NV	0.6	Equities	Materials	Netherlands	EUR	3,991	$118,747	$118,747
LSG NO	LEROEY SEAFOOD GROUP ASA	0.5	Equities	Consumer Staples	Norway	NOK	11,871	$115,536	$115,536
VIS SQ	VISCOFAN SA	0.5	Equities	Consumer Staples	Spain	EUR	1,456	$114,848	$114,848
AVI SJ	AVI LTD	0.5	Equities	Consumer Staples	South Africa	ZAR	13,314	$113,590	$113,590
1332 JT	NIPPON SUISAN KAISHA LTD	0.5	Equities	Consumer Staples	Japan	JPY	13,600	$113,472	$113,472
MFI CT	MAPLE LEAF FOODS INC	0.5	Equities	Consumer Staples	Canada	CAD	3,599	$100,001	$100,001
1377 JP	SAKATA SEED CORP	0.4	Equities	Consumer Staples	Japan	JPY	1,900	$90,660	$90,660
097950 KP	CJ CHEILJEDANG CORP	0.4	Equities	Consumer Staples	South Korea	KRW	307	$90,422	$90,422
SCHO DC	SCHOUW & CO	0.4	Equities	Consumer Staples	Denmark	DKK	690	$84,508	$84,508
2296 JT	ITOHAM YONEKYU HOLDINGS INC	0.4	Equities	Consumer Staples	Japan	JPY	8,600	$83,694	$83,694
1333 JP	MARUHA NICHIRO CORP	0.4	Equities	Consumer Staples	Japan	JPY	2,100	$80,078	$80,078
CALM UW	CAL-MAINE FOODS INC	0.4	Equities	Consumer Staples	United States	USD	1,230	$79,365	$79,365
GGR SP	GOLDEN AGRI-RESOURCES LTD	0.4	Equities	Consumer Staples	Singapore	SGD	314,200	$76,131	$76,131
QLG MK	QL RESOURCES BHD	0.3	Equities	Consumer Staples	Malaysia	MYR	26,200	$68,923	$68,923
OLAM SP	OLAM INTERNATIONAL LTD	0.3	Equities	Consumer Staples	Singapore	SGD	36,300	$68,800	$68,800
AUSS NO	AUSTEVOLL SEAFOOD ASA	0.3	Equities	Consumer Staples	Norway	NOK	4,213	$61,842	$61,842
GSF NO	GRIEG SEAFOOD ASA	0.3	Equities	Consumer Staples	Norway	NOK	2,358	$54,241	$54,241
IBA UN	INDUSTRIAS BACHOCO SAB SP AD EQUITY ADR 0.0	0.2	Equities	Consumer Staples	Mexico	USD	639	$46,414	$46,414
FR SP	FIRST RESOURCES LTD	0.2	Equities	Consumer Staples	Singapore	SGD	22,200	$43,750	$43,750
GENP MK	GENTING PLANTATIONS BHD	0.2	Equities	Consumer Staples	Malaysia	MYR	10,400	$38,822	$38,822
43 HK	CP POKPHAND CO LTD	0.2	Equities	Consumer Staples	Hong Kong	HKD	308,000	$38,020	$38,020
JPY	JPY - Japanese Yen	0.1	Cash			JPY	2,038,390	$27,476	$27,476
USD	USD - United States Dollar	0.1	Cash			USD	15,276	$22,366	$22,366
HKD	HKD - Hong Kong Dollar	0.1	Cash			HKD	75,681	$14,155	$14,155
GBP	GBP - British Pound	0.0	Cash			GBP	3,032	$5,837	$5,837
CAD	CAD - Canada Dollar	0.0	Cash			CAD	1,757	$1,945	$1,945
NOK	NOK - Norwegian Krone	0.0	Cash			NOK	9,256	$1,482	$1,482
AUD	AUD - Australia Dollar	0.0	Cash			AUD	1,330	$1,330	$1,330
ZAR	ZAR - South Africa Rand	0.0	Cash			ZAR	9,664	$964	$964
EUR	EUR - Euro	0.0	Cash			EUR	469	$759	$759
SGD	SGD - Singapore Dollar	0.0	Cash			SGD	662	$712	$712
CHF	CHF - Swiss Franc	0.0	Cash			CHF	277	$410	$410
DKK	DKK - Danish Krone	0.0	Cash			DKK	1,319	$286	$286
KRW	KRW - Korean Won		Cash			KRW	1	$0	$0
MYR	MYR - Malaysian Ringgit		Cash			MYR	0	-$0	-$0
AUD	AUD - Australia Dollar		FX Forwards			AUD	20,021,624		$20,021,624
CAD	CAD - Canada Dollar		FX Forwards			CAD	-1,576,830		-$1,744,860
EUR	EUR - Euro		FX Forwards			EUR	-647,417		-$1,048,618
GBP	GBP - British Pound		FX Forwards			GBP	-459,053		-$883,712
HKD	HKD - Hong Kong Dollar		FX Forwards			HKD	-3,912,264		-$731,716
JPY	JPY - Japanese Yen		FX Forwards			JPY	-244,469,763		-$3,295,229
NOK	NOK - Norwegian Krone		FX Forwards			NOK	-10,047,991		-$1,608,440
USD	USD - United States Dollar		FX Forwards			USD	-7,227,963		-$10,582,669

Download CSV

* As at 9 December 2019

Sector Allocation

Packaged Foods & Meats	35.7%
Fertilizers & Agricultural Chemicals	20.6%
Agricultural & Farm Machinery	16.7%
Agricultural Products	13.9%
Trading Companies & Distributors	12.0%
Biotechnology	0.7%
Food Distributors	0.4%

* As of 31 October 2019

Country Allocation

United States	48.4%
Japan	16.2%
Canada	8.6%
Norway	7.1%
Britain	4.0%
Hong Kong	3.6%
Germany	2.5%
Malaysia	2.0%
Netherlands	1.9%
Other	5.7%

* As of 31 October 2019

PERFORMANCE

Fund Returns After Fees (%)

	Fund	Index
1 month	2.00%	2.25%
3 months	5.04%	5.18%
6 months	9.29%	9.78%
1 year	3.82%	4.17%
3 year p.a	5.73%	5.92%
5 year p.a	-	4.66%
Since inception (p.a)	6.71%	6.95%
Inception date	2-Aug-16	-

* As at 29 November 2019

Chart

Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown.

DISTRIBUTIONS

Yield Information

Distribution Frequency	Semi-Annual
12 Mth Distribution Yield* (%)	0.5%
12 Mth Gross Distribution Yield* (%)	-
Franking Level	-

*As at 31 October 2019. Yield figures are calculated by summing the prior 12 month net and gross fund per unit distributions divided by the fund closing NAV per unit. Past performance is not an indicator of future performance.

Recent Distributions

Ex Date	Record Date	Payment Date	Distribution Unit ($)	Annual Distribution Return (%) (1)
2-Jan-19	3-Jan-19	17-Jan-19	$0.02731	3.20%
2-Jul-18	3-Jul-18	17-Jul-18	$0.18376	3.48%
2-Jan-18	3-Jan-18	17-Jan-18	$0.00968	1.33%
3-Jul-17	4-Jul-17	18-Jul-17	$0.05522	-

¹ This is the annual distribution return to the end of the relevant distribution date. The distribution return reflects the contribution to total investment return made by the Fund's distributions. It is calculated as the difference between total Fund return and NAV return. NAV return is the change in the Fund's NAV price. Total return is the NAV return plus reinvestment of all distributions back to the Fund. Past performance not indicative of future performance.

ANNOUNCEMENTS

ASX Announcements: FOOD

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RESOURCES

	Factsheet - FOOD	Download
	Fund Flyer - FOOD	Download
	Portfolio Holdings	Download
	The Investment Case for FOOD	Download
	Whitepaper \| The How and Why of Investing in Agriculture	Download
	Product Disclosure Statement - Global Sector Series	Download
	Annual Report - June 2019	Download
	NRWT and Fund Payment Notice information – December 2018 distributions	Download
	Notice of Modifications to Fund Constitution – AMIT Tax Regime	Download
	Index methodology	Download
	2018 Distribution Calendar	Download
	Interim Financial Report 2018	Download

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