


Agriculture investment
Creating value through the sustainable management of agriculture assets
Why invest in agriculture?
Why invest in agriculture? Agriculture investments have a long history of generating strong financial results. The low correlation of farmland returns with the returns of other classes means that farmland can provide diversification benefits within investor portfolios. Farmland investments may also offer moderate inflation protection.
As a nature-based solution, farmland can provide positive social and environmental benefits by sequestering carbon, maintaining biodiversity, and contributing to rural economic vitality. As the global population grows, demand for food and fiber is expected to increase. Investors can capitalize on this trend while also benefiting from opportunities to reduce greenhouse gas emissions and help mitigate climate change.


Opportunities for climate impact

Farmland market indicators
Rooted in sustainability
Our commitment to sustainability and responsible investing has been a core guiding principle embedded in our strategy and operations since the inception of our business.
Global scale
Our operating history demonstrates that scale may provide enhanced acquisition access, production efficiencies, cost savings, innovation, and revenue enhancement opportunities.
Integrated property management
Integrating property management with our business reduces costs and ensures that our commitment to sustainability is carried through from strategy to execution.
Focus on performance
Our agriculture investment program has provided competitive performance since inception.
Proprietary research
Our research capabilities inform our investable universe, underpin our investment strategy, and support portfolio management decisions.
Adding value through investment in sustainable agriculture
Learn how we help meet increasing global demand for nutritious food while enhancing efficiency and profitability through sustainable agricultural practices.
Watch now

Sustainable operating improvements over time

Regenerative farming practices

Investing in the agricultural supply chain
We’re committed
We conduct our business activities in a manner that recognizes the need to preserve and enhance the quality of our environment and local communities.
We’re credible
Working collaboratively with industry peers and nonprofit organizations, we developed an industrywide sustainability standard for agriculture, Leading Harvest. To date, 100% of our U.S. farmland is certified to the Leading Harvest Farmland Management Standard.3
We’re accountable
We manage agriculture investments to achieve key priorities of our sustainability and responsible investing program, sustainably managing the resources entrusted to us and supporting climate change mitigation across our farmland.
3 Data is as of December 31, 2024. Certification is by Leading Harvest and is based on an annual assessment of the conformation to the Farmland Management Standard. Most current data shown. Please see https://www.leadingharvest.org.
Click here to read our recent annual sustainability and responsible investing report, which includes our performance against metrics aligned with each of our five key sustainability and responsible investing priorities as well as other external standards, such as the Global Impact Investing Network (GIIN), the Sustainable Development Goals (SDGs), and third-party certification system objectives.
Certifications, memberships, and selected affiliations
-
Leading Harvest⁴
-
Global Impact Investing Network⁵
-
PRI⁶
-
World Business Council for Sustainable Development (WBCSD)⁷
Important disclosures
All logos are registered trademarks of the respective organizations/firms represented.
4 Leading Harvest. 5 Global Impact Investing Network. 6 PRI. 7 World Business Council for Sustainable Development (WBCSD).
Our diversified portfolio
Our global, high-quality, diversified agriculture portfolio includes annual and permanent crops along with farmland plus integrated processing operations. We offer investors the ability to invest in portfolios diversified by crop type, geography, and management style as well as portfolios that target a particular region or market segment.

Farmland assets
Annual row crops
Replanted every year, our annual row crops generally priced comparably across the globe. They may include commodity corn, soybeans, cotton, wheat, rice, or specialty crops such as vegetables.
Perennial permanent crops
Perennial permanent crops are higher-value niche crops that grow on a tree or vine and vary in pricing by location—and where best management practices can enhance value. They may include tree nuts, cranberries, apples, citrus, or blueberries.
Farmland plus agriculture assets
Integrated processing operations
Operations may include value chain integration focused on processing, storage, packaging, and marketing various agriculture commodities.
These assets may include vertically integrated permanent crop operations or indoor growth spaces.

Vehicles
Our agriculture strategy invests in global core and core-plus farmland assets through open- or closed-end commingled funds for the benefit of institutional investors. Individually managed accounts tailored to meet investor needs are also available.
Commingled funds
A commingled fund—open or closed end—can offer investors access to a broadly diversified portfolio at lower levels of invested capital than could be attained by investing directly, but the commingled structure offers less individual investor control than an individual account. An open-end portfolio allows investors to buy into an existing asset base.
Individual accounts
Individual accounts can offer investors a greater level of control over the strategies employed to meet their objectives and constraints. Individual accounts allow for portfolios to be tailored to meet investor-specific levels of risk tolerance, return targets, diversification, and cash flow needs but require a much larger capital contribution.
Oliver S. Williams IV, CFA
Oliver is serving in a Strategic Advisor role collaborating with the Global Head of Agriculture and CIO to ensure a smooth transition and to define a future role focused on strategy and execution. From 2011 to May 2025, Oliver led Manulife Investment Management’s institutional agriculture investment program. He is a member of the senior management team for the firm’s agriculture business. Additionally, he serves on the Agriculture Investment Committee, and chairs company boards for the firm’s Australian property management platform. Prior to that, Oliver served as director of asset management. Oliver was the inaugural chair and currently serves as a Board Member for Leading Harvest, a non-profit organization dedicated to establishing industry-leading sustainability standards that promote the transition to more sustainable and resilient farmland management globally. From 2021 to 2025, Oliver was the inaugural chair for the Farmland Capital Alliance, a coalition-based nonprofit membership organization focused on large-scale U.S. farmland ownership, management, and investment. Oliver is a CFA® charterholder and is a member of the American Society of Farm Managers and Rural Appraisers and of the CFA Society Boston.
- Education: B.S., Agricultural Economics, Cornell University
- Joined the company: 1997
- Began career: 1996
Read more

Daniel Baker
Dan is responsible for leading the global water team of the firm’s timberland and agriculture businesses by working closely with investment and property management functions to develop and execute the water investment, policy, and operations strategy. Prior to joining the firm, Dan was a principal at Aither, an Australian consulting firm, where he led the rural water and water markets consulting practice area.
- Education: First Class Honours, B.S., Interdisciplinary Studies—Environmental Policy and International Relations, Australian National University
- Joined the company: 2019
- Began career: 2013
Read more

Danielle Harris, CAIA, AFM
Danielle is responsible for sourcing permanent crop properties throughout California. In this role, she sources, underwrites, negotiates, performs due diligence, and closes agriculture investment opportunities. Previously, Danielle was a senior transaction manager supporting the row and permanent crop acquisition efforts across the United States and Canada, as well as vertically integrated opportunities in South America. Danielle served as operations manager for the agriculture farm management team from 2013 to 2016. Prior to that, Danielle was an analyst in Manulife’s Real Estate Finance Group.
- Education: B.S., Business Administration, Northeastern University; M.B.A., Boston College
- Joined the company: 2013
- Began career: 2010
Read more

Hugues Rinfret, CFA, FRM
Hugues is responsible for the development and execution of agriculture investment strategies and growth initiatives, working closely with the Global Head of Agriculture. Hugues is also responsible for identifying and mitigating risk exposures related to Manulife Investment Management’s agriculture investment process, products and client investments. Hugues is a member of the Natural Resource Investment Committee (NRIC). He oversees portfolio construction and management function, and ensures investment processes and policies are current across the platform. He also plays a lead role in investment entity governance and appropriate risk framework for our clients. Additionally, he manages the Economic Research, Portfolio Management & Client Service (PMCS) and Global Water Resource teams.
Hugues previously served as Global Head of Valuation, managing the valuation team, financial models, investment plans and analyses for the firm’s global agriculture clients across the US, Canada, Australia and Chile. Prior to joining the firm in 2017, Hugues served as the Director of Research with MetLife Agricultural Investments and as a Senior Industry Analyst with SunTrust Bank, where he developed a market risk analysis platform for the food and agribusiness portfolios. Hugues holds the Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) designations. He also grew up on a dairy and cash crop farm near Montreal, Canada.
- Education: A.D., Farm Management, B.S., Agronomy, M.S., Agricultural Economics, McGill University
- Joined the company: 2017
- Began career: 1993
Read more

Andrew Strahley
Andrew leads the ongoing strategy, management, and growth of the firm’s Australasian farmland platform. Andrew has extensive experience in farmland agriculture in Australia and other countries. Prior to joining the firm, Andrew held senior management positions with ConAgra and Mitsubishi. Andrew has been a Managing Director of Hancock Farming Company and Manulife Investment Management Timberland and Agriculture (Australasia) Pty Limited (formerly known as Hancock Natural Resource Group Australasia Pty Limited), the property manager for Manulife Investment Management’s Australian assets since its inception in 2000. Andrew serves on the Agriculture Investment Committee, company boards for the firm’s Australian investment vehicles, chairing each of the firm’s Australian investment vehicles and is a member of the Australian Institute of Agricultural Science and Technology.
- Education: B.S., Applied Science in Agriculture, Charles Stuart University at Wagga
- Joined the company: 2019
- Began career: 1987
Read more

Kevin Wright
Kevin leads the teams responsible for operations, management, and support of the North American row crop portfolio. In this capacity, Kevin oversees the teams that manage, operate and support clients’ row crop properties in the United States and Canada. In his expanded role as Interim North American Regional Operation Lead (“NARO”) and Chief Operation Officer (“COO”) of the Western U.S. Permanent Crops, Kevin will be responsible for leadership of the MAS leadership team and the commercial enterprise, as well as overseeing the manufacturing of the returns in our tree nut and tree fruit platforms. Prior to joining the firm in 2020, Kevin was president of E. Ritter Agribusiness, Inc., a fifth-generation family owned vertically integrated agricultural business, where he led the management of the family’s agricultural land and business portfolio.
- Education: B.S., Agriculture Business, Arkansas State University
- Joined the company: 2020
- Began career: 1992
Read more

Richard Bodio, Jr., CFA
Rick is responsible for the development of new investment strategies and growth initiatives, client investment governance, and identifying and mitigating risk exposures related to the firm’s agricultural investment process, products, and client investments. He’s a member of the natural resource investment committee and investment strategy committee and is also directly involved with business development activities, structuring investment management agreements, and designing client investment goals and constraints. Rick previously led the farmland plus investment team, the client account management team, and the investment underwriting function. Prior to joining the company in 2011, he worked in financial strategy for Forest Systems Management Company. Rick holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston.
- Education: B.A., English and Philosophy, Providence College; M.B.A., University of Connecticut
- Joined the company: 2011
- Began career: 2005
Read more

Related viewpoints

May 10, 2024
Regenerative agriculture: definition, implementation, and impact

March 6, 2024
Expanding the efficient frontier with natural capital investments

January 17, 2024
Investing in the power of nature

August 17, 2023
Enhancing farmland value through sustainable improvements
Contact us
Ryan Hanna
Global Chief Operating Officer, Private Markets
Manulife Investment Management
1 929-383-3733

Are you interested in learning more about the land we manage or how we operate in your community?
Learn more4618571