By John Berry
We all have cause at times to observe that the world is becoming a smaller place. This is particularly true of the racing world and especially true of Australia's place in it. Formerly relatively self-contained and relatively isolated in a bloodstock sense, Australia is now a cosmopolitan superpower notable for the range of foreign investment which it attracts. Nearly all of the world's major international bloodstock investors now have a presence in Australia, but few have made as rapid an impact as the Fung family's Aquis Group, whose Aquis Farm in Queensland has quickly established itself as one of the most influential operations in the land.
Aquis Farm is wholly owned by the Fung family, whose track record in investment is outstanding. Aquis Chairman Tony Fung has more than 40 years' experience in global financial services and investment, including more than 15 years as an active investor in Australia. Since selling the family's financial services business Sun Hang Kai & Co in 1985, Mr Fung has operated as a private investor focusing primarily on commercial property in Hong Kong and other property-linked investments. These include several projects in Australia, such as Casino Canberra (ACT) and a proposed $8 billion integrated resort development at Yorkeys Nob in far north Queensland.
Aquis Farm, however, is largely a labour of love, reflecting the passion which Mr Fung and his son Justin harbour for the sport. Not totally unrelated is Aquis's recently announced plan to develop a $440 million six-star, 500-room hotel on the border of Surfers Paradise and Main Beach. This will, of course, be a perfect home-from-home for visitors to future Magic Millions sales at the Gold Coast, a venue in which Aquis Farm is becoming a major player, as is confirmed by the stud's appealing 23-strong draft at the forthcoming Magic Millions Gold Coast Yearling Sale. Situated near Canungra in south-east Queensland, roughly midway between the Gold Coast and Beaudesert, Aquis Farm is based around what was formerly the Wadham Park Racing site. Initially developed as a training facility by former Toll Transport principal Peter Rowsthorn, the main farm was sold to Queensland businessman Phil Sullivan in 2007 for a reported $15 million when the Wadham Park operation was relocated to Victoria. Sullivan in turn sold the property to Nathan Tinkler, who also bought three adjacent properties and thus created a 1,100-acre site as base for his Patinack racing and breeding operation. On the dissolution of Tinkler's empire, this enlarged property was bought en bloc in February 2015 by Mr Fung, who already had 10 horses in training in Queensland and had decided to raise the level of his involvement.
The results have been spectacular: in less than two years, Aquis has established itself as one of the premier racing and breeding operations not merely in the state but in the country. Its headquarters are a bloodstock 'one-stop shop' offering to owners and breeders services which cater for every aspect of a horse's life, as well as maintaining its own breeding and racing operation. Aquis's Director of Sales Jonathan Crowley sums up the current state of play at the farm. “Aquis Farm is a young, dynamic Thoroughbred operation. From my previous, more traditional experience in the Thoroughbred industry, it is very exciting to see the direction Aquis Farm is heading in. We at Aquis Farm have our sights set on revolutionary and innovative ways to serve the breeder both in Australia and overseas. I see Aquis Farm moving confidently into the future, breaking new ground and delivering unique opportunities in a way that no other stud farm has done before us.”
The most obvious facet of the Aquis operation is its four-strong stallion roster, headed by the international star Holy Roman Emperor (Ire) (Danehill) whose credits include British Classic winner Homecoming Queen (Ire) and Hong Kong champions Designs On Rome (Ire), Beauty Only (Ire) and Rich Tapestry (Ire), as well as the excellent Mongolian Khan (Aus) who in 2015 completed the remarkable treble of G1 New Zealand Derby, G1 Australian Derby and G1 Caulfield Cup. Standing alongside the Coolmore shuttler during the past season were the proven Group 1 producer Domesday (Aus) (Red Ransom) and the reliable Benfica (Aus) (Lonhro {Aus}) as well as the exciting Group 2-winning first-season sire Spill The Beans (Aus) (Snitzel {Aus}). Among the impressive first book of mares covered by the last-named was one of the jewels of Aquis Farm's broodmare band; Perfect Eight (Aus) (Octagonal {NZ}), a full-sister to the champion racehorse and stallion Lonhro (Aus). The roster will be further bolstered in 2017 by the arrival of Kiss And Make Up (Aus) (More Than Ready), the Gai Waterhouse inmate famous for defeating subsequent G1 Golden Slipper S. winner Capitalist (Aus) (Written Tycoon {Aus}) in last season's G2 Todman S. at Randwick.
Standing stallions, however, is merely a small part of Aquis's operation. Everything that a horse might do in his life can be done on the property, apart, of course, from racing: agistment, walking-in mares, foaling, sales preparation, breaking, pre-training, training, spelling, and even retirement. For the horses in work, the facilities are second to none, including an 1800-metre grass track, a 1750-metre sand track, swimming pools and water-walkers. Furthermore, Aquis has very strong links with all south-eastern Asian racing jurisdictions, particularly Hong Kong, and arranging private sales to that arena is a major feature of its business, with many Hong Kong and Chinese buyers making Aquis one of the first stops on their buying tours.
It is still early days for the blue Aquis racing colours, but the livery is becoming an increasingly familiar sight on Queensland racecourses, with the success of impressive juvenile Chappo (Aus) (Fastnet Rock {Aus}) on debut at Doomben on Jan. 2 being the tenth Aquis victory this season. Another recent Aquis 2-year-old winner has been the speedy Colosimo (Aus) (Foxwedge {Aus}) who recorded back-to-back wins at the Gold Coast and Eagle Farm before Christmas and who is now set to take her chance in the Magic Millions Two-Year-Old Classic. Both horses are trained by Steven O'Dea, who has established an impressive strike-rate this season with Aquis juveniles; while Aquis also has horses with several other leading trainers including Gai Waterhouse, Gary Moore and Tony Gollan.
This year's Magic Millions Gold Coast Yearling Sale will be a busy week for the Aquis team, headed by Jonathan Crowley, Robyn Wise, Paul Knight, Bernie Kane and Luke Lawler. The farm is presenting a consignment of 23 yearlings, of which nine are owned by the stud with the remainder being offered on behalf of clients. Among Aquis's offerings are an O'Reilly colt from former Singapore champion filly Mexican Rose (NZ) (Volksraad {GB}); a Foxwedge filly from Iseult (Aus) (Dehere), a half-sister to G1 Victoria Derby winner Nothin' Leica Dane (Aus) (Danehill) and G1 Victoria Derby runner-up Duelled (Aus) (Redoute's Choice {Aus}); and a Medaglia d'Oro colt whose Group 1-winning grand-dam Preserve (Aus) (Canny Lad {Aus}) is a half-sister to G1 Golden Rose S. winner Denman (Aus) (Lonhro {Aus}).
It is truly remarkable that in less than two years Aquis has already cemented its position as one of the most significant bloodstock operations in the land. It is likely, though, that this is only the beginning. Justin Fung, CEO of Aquis Farm, makes it plain that the standards of excellence and success which have been the hallmark of his family's business ventures apply as fully on the farm as elsewhere in the Aquis empire. “Aquis Farm has taken large steps towards being the best thoroughbred racing and breeding facility in Queensland, and in Australia. We are innovative and want to explore new ventures whilst giving our clients the best of everything we can offer, which means that we want to offer a service like no other.”
“Last year Aquis Farm established a major presence in international racing whilst at the Keeneland Sale. Myself and the team at Aquis Farm believe that it is important for us to diversify our portfolio and make sure we have the best-quality horses from anywhere in the world, and we'll travel to source them.” (An illustration of this policy, incidentally, comes in the form of one of the most interesting members of Aquis Farm's broodmare band. The presence on the farm of the former super-tough stakes-winning Canadian racemare Mullins Beach (Can) (Speightstown) confirms the stud's belief in the importance of maintaining diversity in the gene pool.)
Justin Fung continues, “We are always exploring new options and we're excited about the future of our purchases, the same as we are excited about our yearlings for sale at the Magic Millions Yearling Sale on the Gold Coast. Being a new player in the industry, we definitely want to forge relationships with everyone around the world and make sure we capitalise on opportunities together. Aquis Farm has a very exciting future, which isn't slowing down because we are here to stay.”
These are indeed exciting times for Australian bloodstock. The forthcoming Magic Millions Gold Coast Yearling Sale will showcase much of what makes Queensland's place in the country so strong, and Australia's place in the racing world so strong. Aquis Farm is clearly putting itself in the bloodstock vanguard locally, nationally and internationally, and its greatest days surely still lie ahead.
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