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“This has allowed us to hit multiple markets and have a higher value-add in terms of what we think, ultimately, agriculture should return for us as a fund,” he said. “We originate at the supply end, we process, we store, and we deliver and market across the globe.”

2. RBC scrutinizing data in Panama Papers leak

Royal Bank of Canada is reviewing its records after being named in leaked documents that appeared to show a Panamanian law firm’s clients evaded taxes and laundered money, Matt Scuffham reports.

RBC, Canada’s biggest bank, is one of several financial institutions named in data that emerged following an investigation by the International Consortium of Investigative Journalists. The bank and its subsidiaries were associated with 378 shell companies registered in the Mossack Fonseca law firm’s data.

At the bank’s annual meeting on Wednesday, Chief Executive Officer Dave McKay faced several questions from shareholders who were unhappy about the impact they felt the allegations had on the bank’s reputation. One investor described the effect as “catastrophic.”

McKay said RBC had not been accused of any illegality or wrongdoing and reiterated that it had controls in place to prevent illegal activity. He also said the bank had so far not been able yet to verify the data, which goes back decades.

“We don’t have access to this data, this data goes back 40 years, we don’t have understanding of this information and we have teams now going through our businesses trying to determine where the relationships may exist,” he said.