Geldanlage: Warum Agraraktien jetzt für Anleger interessant sind

The global demand for food is increasing, and by 2050, agricultural production will need to double compared to 2012, according to the United Nations Food and Agriculture Organization (FAO). Climate change, with heat and heavy rainfall, is putting pressure on the sector. At the heart of these trends is agriculture: from machinery operators to seed and plant protection, fertilizers, and food manufacturers.

Investors are attracted to the sector not only because of its structural growth driven by the expanding global population but also as a diversification component. Stephan Werner, a portfolio manager at DWS, explains that the agricultural investment universe primarily consists of staple crops, consumer goods, and industrial sectors, with minimal exposure to IT companies, offering improved risk diversification in a portfolio.

Additionally, the sector benefits from steady demand that is relatively independent of economic cycles. However, geopolitical conflicts affect export revenues, while droughts and floods impact crop yields and drive up prices. The impact varies among agricultural industries: machinery and seed companies profit from high food prices, while food and meat producers face rising costs.

The extent to which these cost increases can be passed on depends on factors such as competition, demand, regulation, and consumer price sensitivity. The MSCI World Index has outperformed agricultural sector investments in the first half of the year, with a 12% increase compared to an 8% gain for the MSCI World Index. Over longer periods, however, the sector shows weaker performance: the industry index only delivered 3-6% per year over five to ten years.

For Simon Frank, a financial advisor at Pictet Asset Management, this presents an entry opportunity. Despite solid fundamental data, defensive business models, and relatively low volatility, many agricultural-related stocks have significantly lost value in recent years. Structural trends driving demand are key to the future price development, with a notable trend towards healthier eating habits.

This shift is driven by growing health and wellness consciousness, longer life expectancies, aging populations, new nutritional recommendations emphasizing higher protein content, and rising healthcare costs. The "Pictet Nutrition Fund" (ISIN: LU0366534344) includes major players like Danone (FR0000120644), a French food company known for health-oriented products like Activia, Alpro, and Evian.

Nedialko Nedialkov, a portfolio manager at Allianz Global Investors, focuses on technology to counter climate change consequences, such as heat, droughts, floods, and irregular rainfall. He highlights precision agriculture and automation as key opportunities, citing Deere & Co, a major player in precision agriculture and a platform for precision farming.

Nedialkov also invests in seed companies developing more resilient crops, such as Corteva (US22052L1044), which produces drought-resistant maize varieties. For investors seeking a broader approach, exchange-traded funds (ETFs) offer exposure to the agricultural sector. The "iShares Agribusiness ETF" (IE00B6R52143) includes major agricultural companies like Corteva and Archer Daniels Midland, while the "Global X AgTech & Food Innovation ETF" (IE000EBFYWX3) focuses on agricultural technology and innovation, with Deere & Co as its largest holding.

However, the Global-X ETF is more concentrated with only 31 holdings and a smaller $5.8 million fund size compared to the iShares Agribusiness ETF's $492 million size.