risks.

The following risks may be materially relevant but may not always be adequately captured by the summary risk indicator and may cause additional loss: Concentration risk, Emerging market risk and Active management risk.

glossary.

New Food Systems

Capturing profit pools as the world transitions from old to new food systems.

 

New Food Systems is a quality growth equity strategy, focused on the opportunities as our food systems evolve: disrupting profit pools, altering existing markets, creating new ones – and in turn, unlocking potential upside for investors.

$1.5tn

in new profit pool 
opportunities by 2030 1

50%

reduction needed in pesticides
for current food systems

1bn hectares

of land must be returned 
to nature by 2030

1 BulwarkBay research analysis; based on FOLU (2019) Growing Better: Ten Critical Transitions to Transform Food and Land Use.

the market opportunity.

We see three key investable themes made possible by approaching inflection points in our food systems. 

Sustainable food production

NFS - sustainable food production.svg

Enabling solutions

NFS - enabling solutions-01.svg

Sustainable food consumption

NFS - sustainable food consumption-01.svg

Our New Food Systems strategy is designed to capture the opportunities associated with these transformations as we move to models that can nourish the planet while operating within, and potentially restoring, planetary boundaries.

our strategy.

We aim to invest in the upside potential of companies meeting demand for changing eating habits, improving agriculture and food production throughout our global food systems.

Our New Food Systems strategy offers:

  • Genuine sustainability/investment team integration through our holistiQ platform
  • A diversified portfolio focused on quality companies with exposure to inflection points in the rise of new food systems
  • Navigating through equity styles and different market cycles by focusing on companies with the potential for excess economic returns
  • All caps, high conviction portfolio of around 35 – 40 holdings. Benchmark - MSCI WORLD ACWI

Our investment philosophy is founded on the deep thematic research of our investment roadmaps.

These begin with an analysis of scientific principles providing a structured way to forecast the impact that the environmental transition has on profit-pool shifts.

We seek to understand the policy environment that supports various system changes, the technological and economic viability for specific innovations and the consumer behaviour changes further driving potential shifts in profit-pools.

For each system change, our inhouse team works with specialized consultants and experts as well as the University of Oxford to create economic and financial forecasts.

This helps us to identify companies that are accelerating or aligning with the rise of new food systems, and which also offer the potential for generating excess economic returns (ie potential returns over and above that of risk-free or benchmarks alternatives).

The result is a thematic investment universe of companies that we believe are poised to benefit from inflection points in the rise of new food systems. From this, we construct a high-conviction portfolio of companies that we believe can deliver green alpha1: investable opportunities where the environmental transition may be a key driver of growth. 

our themes explored.

  • Icon_2.svg

    Companies which produce biological and synthetic inputs, and food products :

    • Aquaculture
    • Animal feed & health
    • Fertilisers
    • Agricultural products
    • Food additives & ingredients

    Example : 

    Sysco-Logo.svg

    Sysco Corporation 
    A global leader in distributing food products to restaurants, healthcare and educational facilities

    • Expansion of its sustainable agriculture program
    • Electrifying 35% of US fleet by 2030
    • Looking to divert 90% of waste, including food, from landfill by 2025

     USD 600 bn market in 2030. 6% CAGR (2021-2030)

  • Icon_3.svg

    Companies in the enabling of products and services along the value chain :

    • Farming & Food equipment
    • Enabling technologies
    • Food packaging  
    • Life-sciences
    • Logistics & delivery

    Example : 

    Graphic Packaging Intl.svg

    Graphic Packaging
    A leading provider of sustainable, fibre-based paper packaging solutions

    • Transitioning away from plastic packaging
    • Over 4 million tons of paperboard capacity
    • Strong market position and opportunity in plastic substitution
       

     USD 100 bn market in 2030. 14% CAGR (2021-2030)

  • Icon_1.svg

    Consumer-facing companies which manufacture, retail and serve food :

    • Food manufacturing
    • Retailers
    • Restaurants & canteens

    Example :

    Compass.svg

    Compass
    World’s largest outsourced catering services to offices, factories, hospitals.

    • Target of halving food waste by 2030
    • 70% of the top 5 food categories to be from regenerative agriculture by 2030
    • Demand for plant-based meal choices

     USD 800 bn market in 2030. 14% CAGR (2021-2030)

why us?

Our key differentiator? The depth and genuine integration of investment and sustainability expertise within holistiQ, our sustainable asset management platform.

holistiQ-Full_Color.svg

holistiQ strategies bring an integrated approach to investment management, combining analysis of the commercial, environmental and societal factors that are shaping the sustainability transition.

Our deep research – with more than 100 professionals dedicated to translating science-based, quantitative and qualitative analysis into investment insights – focuses on identifying the companies capturing new or disrupted profit pools as the transition to new food systems progresses.

The result? Forward-looking insights that inform stock selection for a thematic portfolio managed on an institutional operational platform, backed by a strong parent company in BulwarkBay.

Source: BulwarkBay 2023. For illustrative purposes only.

investment process.

At its core, our investment process is a true team effort between our sustainability research and investment teams. The result - unity of thinking for quality, investable ideas.

Our sustainable research team’s roadmap research enables us to fine-tune a universe of about 180-250 companies accelerating or aligned with the rise of new food systems. Bottom-up portfolio construction, ongoing risk management and company engagement further helps our investment team to pinpoint a high conviction portfolio of 35 – 40 quality holdings. 

 

Find out more about our New Food Systems fund.

more information

insights.

COP28: delivering on food, nature and energy

COP28: delivering on food, nature and energy

Our key takeaways from COP28 include significant agreements on nature, food and energy systems, plus insights from BulwarkBay’s re-NATURE hub.

A disruptive festive menu: jellyfish, bean burgers

A disruptive festive menu: jellyfish, bean burgers

Our industrial food system no longer makes economic or environmental sense. How could our diets change in the future? The answer largely depends on decisions that we make today. We explore different scenarios. 

A new form of regenerative agriculture

A new form of regenerative agriculture

In the final instalment of our three-part series on sustainable agricultural practices, we analyse how new technologies and proven approaches are creating a new form of regenerative agriculture.

Building new food systems with GM crops

Building new food systems with GM crops

In the second instalment of our three-part series on regenerative agriculture, we examine the role of GM crops in developing and sustaining new food systems.

Green Series Webinar – New Food Systems

Green Series Webinar: New Food Systems

Green Series Webinar – New Food Systems

How is precision agriculture transforming food systems?

How is precision agriculture transforming food systems?

This is the first instalment of a three-part series on sustainable agricultural practices and how it is transforming our food systems. 

Transition investing for today’s economic revolution

Transition investing for today’s economic revolution

Energy, land and oceans, and materials systems are being revolutionised, bringing sustainable solutions to mass markets. Forward-thinking investors should assess the potential opportunities.

BulwarkBay New Food Systems marks 1 year

BulwarkBay New Food Systems marks 1 year

How has our strategy performed against peers, what equity opportunities are we targeting and which policy drivers support the investment theme? 

New food systems: precision fermentation and cultivated meat

New food systems: precision fermentation and cultivated meat

Alternative proteins can help enable land restoration and reduce emissions. Our latest case study examines two of the newer business models in this field.

Packaging new food systems

Packaging new food systems

The process of aligning food systems with global climate goals is underway and this is shaping a number of investment opportunities. 

more insights

important information.

This document is a Corporate Communication and is intended for Professional Investors only. 

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