End of Year Message from New Forests’ CEO Mark Rogers

2024 has been a year of growth and challenges across the natural capital asset class with the New Forests and New Agriculture businesses facing both tail winds and head winds. It’s also been a year in which we have seen severe political unrest and geopolitical uncertainty across the globe, and major economies in flux.

Interest rates and, correspondingly, exchange rates have seen significant movements influencing financial outcomes for investors across the different asset classes. In the Asian region, China’s economic dominance has slowed as it deals with rising labour costs and a housing sector that has suffered over investment for several years. This has flowed through to commodity demands which have been lower for the last 12 months across a large number of commodities including in our sector, wood fibre.

The Australian agricultural sector in which New Agriculture operates has remained resilient with strong investment performance across our annual cropping and grazing assets. At the top line, the natural capital asset class has remained resilient with generally positive returns across our global platform with tail winds pointing to more favourable investment outcomes over the coming years. The sector also continues to position itself to solve the key environmental challenges facing the planet – carbon removals and reductions, and the repair of nature.

To read Mark’s reflections on the market trends over the past year, and what’s in store for 2025, download the insights here.

New Forests Advisory Pty Limited (ACN 114 545 274) is registered with the Australian Securities and Investments Commission and is the holder of AFSL No 301556 which authorises it and its authorised representatives New Forests Asset Management Pty Limited (ACN 114 545 283), (AFS Representative Number 376306), and New Agriculture Pty Limited (ACN 658 097 020) (AFS Representative Number 001298119) to provide general advice to wholesale clients into investments managed by New Forests. New Forests Inc is registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Registration with the SEC does not imply any specific or certain level of skill or training. New Forests Asia (Singapore) Pte Ltd holds a Capital Markets Services Licence (CMS 100950) as an Accredited/Institutional Licenced Fund Management Company (A/I LFMC), issued by the Monetary Authority of Singapore.

Copyright © 2025 New Forests all rights reserved. The information contained on the New Forests website has been obtained from sources assumed to be reliable. However, New Forests disclaims all warranties as to the accuracy, completeness, currency, reliability or adequacy of the information displayed on the website. The information on this website is general in nature and is not an offer, recommendation or solicitation for the purchase of securities, units or other investments, unless expressly stated otherwise.