Argyle Capital Partners’ Kim Morison on water rights and portfolio construction
INTERVIEWSERIES
Kim Morison, Chairman, Chief Investment Officer, Argyle Capital Partners
October 2026
Podcast
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In this exclusive interview, Kim discusses the role of water rights in portfolios, where it sits in the portfolio from a risk-return perspective and the objectives investors may seek to achieve through an allocation to the asset class. He explains the drivers of return when investing in water rights from both an income and capital growth perspective.
Watch the full interview where we ask Kim:
Who are the typical investors and what are they looking to achieve when investing in water rights from a portfolio objective perspective?
Where do water rights sit within the portfolio on a risk-return perspective relative to other asset classes?
What do the returns from water rights comprise? How much annual income do water rights generate? What proportion of returns is represented by long-term capital growth?
What are the drivers of income from investments in water rights?
What are the drivers of capital growth? Why would water rights continue to appreciate in value? Can farmers continue to afford higher prices for water?
Kim Morison, Chairman, Chief Investment Officer, Argyle Capital Partners
Kim is the principal of Argyle Capital Partners, a specialist manager of investments in Australian water rights. The firm was established in 2007 to specifically invest in water rights as an efficient means to participate in the development of irrigated farming enterprises and increase Australia’s capacity to reliably produce food and fibre for high-value export markets of Asia.
Argyle’s investment activities support irrigation enterprises to achieve highest and best use of water, a key input. This benefits Australia’s farming communities and encourages the sustainable use of its most scarce natural resource. Argyle is a pioneer of this unique asset class and currently manages over A$1.3 billion on behalf of Australian and offshore investors.
Kim grew up in regional Australia and has over 30 years’ experience in irrigated agribusiness, water markets, commodity derivatives, and the international trade of soft commodities. He previously held senior management roles with Macquarie Bank’s agricultural commodities division, Colly Farms Cotton and CSR Sugar.
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