The New Zealand Superannuation Fund is positioning itself to begin investing in New Zealand farmland.

The $17.2b fund is looking to acquire more prime New Zealand assets, and rural land is high on its shopping list.

Chief Executive Adrian Orr says the Super Fund is close to taking on a point man for rural asset management.

“We’re making sure we’re keeping a close eye on what assets are available at the moment, and how they stack up regarding the quality for price situation.

"We’re currently working very closely with a rural asset manager, [and] should soon be in action."

Mr Orr says the recent availability of some high profile rural assets hasn’t gone unnoticed.

"The first step is to get a good asset manager, then it’s a matter of deciding whether we want a going concern, a farm already in business, or do we want to develop our own portfolio of farms?

"There have been some very high profile land for sale but we’ve got to weigh up the benefits and drawbacks of both.”

The fund is undertaking due diligence on two confidential deals.