Pyrethrum Fund recap
The pyrethrum collective industry fund (CIF), now known as the Hort Innovation Pyrethrum Fund, was established at the end of 2016. It brings together financial contributions from the pyrethrum industry – collected as a voluntary levy – and allows access to Australian Government contributions.
The pyrethrum industry has set contributions to the CIF at 2.5 per cent of gross value production.
Making investments in the Pyrethrum Fund
Hort Innovation is responsible for strategically investing the pyrethrum levy contributions and government funds into R&D projects to improve industry productivity and profitability, and to ensure the long-term sustainability of the pyrethrum industry.
All investment decisions are made in close consultation with industry, and Hort Innovation has an industry-specific Strategic Investment Advisory Panel (SIAP) established for this purpose.
The pyrethrum SIAP
As with all of Hort Innovation’s industry funds, the pyrethrum industry has a SIAP, with panellists selected according to skills-based criteria and considering geographic and sectorial diversity. The panel also has a chair.
The SIAP’s key function is to provide strategic investment advice to Hort Innovation – helping guide the way industry contributions and Australian Government funds are put to use.
What guides the pyrethrum SIAP’s advice?
When providing advice to Hort Innovation on potential levy investments, the SIAP’s guiding document will be an industry-specific Strategic Investment Plan (SIP). This document will outline key investment outcomes and strategies, and ensure all investment decisions align with industry priorities. At the time of writing, the SIP was still in development.