Dairy farmers turned property magnates are blazing a trail in the Swedish investment market.
Bill Ridge and Nigel Evans, who both operate dairy farms in Pembrokeshire, run Evanridge Properties. They have no launched a new Swedish property investment fund.
Together with tax specialist Huw Evans, they have already made on major foray into the Swedish market. Last year, £3m was raised on property investments - with a projected return of £184,000 over seven years based on an investment of £100,000.
Now Evanridge aims to raise £10m for its latest fund, Swedish Property 2LP.
Over the past 10 years the trio have built up property interests in the UK, France, US, Sweden and Lithuania and between them have been involved in the setting up and management of a commercial property investment company as well as a residential investment and development enterprise.
The started their ventures when they recognised that many farmers were looking to spread their investment and risk beyond farming.
They set up Evanrdige Properties in 2005 to provide access to a low risk investment fund with above average returns.
The risk/reward ratio of the initial; fudn soon not only proved attractive to farmers but to a number of other high net-worth investors.
The initial fund in its first years showed growth in investor capital of more than 25%.
A spokesman said, "Given that Swedish investment fundamentals remain attractive, Evanridge anticipates good returns and great interest from prospective investors"
In addition, they are inviting investors to take a direct investment in the UK-based Evanridge Swedish Property.
The team say they are confident they will attract up to 200 investors, each investing a minimum of £50,000, allowing the fund to raise up to £10m.
This sum will be leveraged to secure around £50m of investment property in the Swedish market.
Nigel Evans said, "The Swedish property market benefits from a strongly performing economy which, combined with recently introduced reductions in personal taxation, supports increasing levels of disposable income per capita and growing property values. In addition, Sweden has a shortage of rental property, and a large rental market with limited development activity, which combined with a low vacancy and tenant turnover rates provides secure, inflation adjusted flows."
He added, "Swedish property prices have some way to recover following a correction in the property markets in the 1990s. As a result, real estate prices remain low by European standards. This enhances the prospect of healthy returns on the sale of the Evanridge property portfolio, particularly given the institutional investors are increasingly attracted to Swedish property, both for its stable income flow and prospects for rental growth."
Mr Ridge has farming interests in the United States, New Zealand and Argentina. He is a director of OMSCo, the largest organic milk cooperative in the UK.
Huw Evans originally studied theology and philosophy, and then held positions in the Inland Revenue and KPMG's Cardiff office.
Nigel has balanced his farming career with business activities for three decades. AS well as having property interests in the Uk and Sweden, he is also involved in two development projects in Lithuania.