Posted on by annabel

Highlights from AGMARDT’s Annual Report 2024–25

Bar chart showing AGMARDT grant amounts by category from 2022–2025. Collaborative Partnerships: Small variations from around $1.3 to $1.6 million, with 2025 roughly equal to 2023 ($1.6m). Agribusiness Innovation grants: High at around $2.5 million in 2022 and 2023, dropping to just over $1m in 2024 and around $1 million in 2025. Capability Development Grants: Steady at around $500k from 2022 to 2024, dropping to around $300k in 2025. Other: Decreasing from $760k in 2022 to zero in 2025. Text overlay states: Out of 171 applications requesting over $10.5 million, 35 projects were funded, totalling $2.87 million.

Some highlights from our recently published Annual Report 2024/25:

  • AGMARDT funded 35 projects and people with a total strategic investment of $2.87 million.
  • Our three funding rounds in 2024/25 received 171 applications in total, requesting over $10.5 million.
  • Applicants ranged in age from 18 to mid-80s and represented most regions of the country.
  • Grants were split between Strategic Partnerships (56%), Agribusiness Innovation Grants (33%), and Capability Development (11%).
  • The Trust has grown to $90.3 million from establishment funds of $32 million in 1987.
  • Since 1987 we’ve provided more than $111 million of funding through more than 2080 grants.

Returns were volatile, but overall decreased slightly this year (7% at end June 2025, compared to 8% the previous year), while inflation drove up the Real Capital Level of the Trust fund. Combined, this meant the Trust moved closer to the Lower Investment Reserve Level (see graph, below). This has driven a prudent approach for 2025/26, to ensure the Trust can pay out previously approved grants while protecting the Real Capital Level (the original Base Capital, adjusted for inflation).

Line graph showing AGMARDT's real capital level and trust funds growth from June 1994 to June 2025. The chart displays five lines: Base Capital ($32 million), Lower Investment Reserve Level (shifting from ~$43M to $88M), Real Capital Level (shifting from ~$40M to $81M), Upper Investment Reserve Level (shifting from ~$48M to $90M), and Trust Funds (fluctuating but growing from ~$46M to $90M). Trust Funds currently sit just above the Lower Investment Reserve Level at $90.3 million.

AGMARDT remains focused on long-term resilience and support for the primary sector. We’re aiming to continue growing the Trust significantly, so that we can consistently distribute even more grant funding in future. Our aim is to balance the needs of today with the need to support future generations of leaders and innovators.

To this end, we are reviewing our strategic asset allocation, with a decision anticipated later in 2025, and we are developing a distribution policy. Our direct investment policy has been implemented, with two direct investments approved.

Meanwhile, AGMARDT is continuing its evolution from being solely a grant funder, to becoming a proactive and strategic catalyst for transformation. We remain focused on growing a robust pipeline of ideas and capable people, to drive increased regional resilience and growth, improved environmental performance, and increased economic prosperity.

Read more in our Annual Report 2024/25: https://agmardt.org.nz/annual-reports