MLC reviews agribusiness sector, puts ITC on ice
MLC has placed one of its approved agribusiness providers ‘on hold’ in light of concerns about the sustainability of the sector following the collapse of Timbercorp and Great Southern.
MLC’s approved products and investments committee placed ITC on hold late last week, and a spokesperson for the group said MLC had the sector under ongoing review. MLC did not have Timbercorp or Great Southern on its approved product list (APL), the spokesperson said, but it does have Macquarie Forestry and Gunns Woodlot on its APL.
There have been concerns expressed that effective, sustainable agribusiness managers will suffer from the reputational damage caused to the sector following the collapse of two of its biggest players.
But there have also been discussions around the models employed in the agribusiness sector, and whether certain types of models are flawed.
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