Booster's Southland dairy farms value up 6.8%

Booster Investment Management has announced a 6.8% increase in the value of its three dairy farms in Southland.

The properties, which are owned by the company's wholesale fund, are now valued at $35 million, up by $2.25m.

These farms accounted for approximately 16% of the fund's total asset value.

The valuation increase will result in a 1.1% increase in the net asset value of the Private Land and Property Portfolio.

Booster attributed the higher valuation to the appreciation of land prices compared to the farms' initial acquisition price in August 2022, as well as their strong performance and management.

Investors can continue to purchase units in the fund on the NZX.