STEVE speaks to Shane McGrath

McGrath, however, insists that Tony Fung and his son Justin are in it for the ‘long haul’ as their breeding and racing interests continue to expand.

Only time will, of course, definitively answer the question but Aquis Farm’s impact in 2017 alone, aside from past property and stallion acquisitions, is well measured by the purchase of 22 mares at an average of $206,000 at the Magic Millions National Broodmare Sale and a further 21 mares sourced at an average of $109,000 at the Inglis Select Broodmare Sale.

“The family’s racing and breeding interest is about the next generation and those to follow, and I’ve been fortunate enough to be given the licence to create it,” said McGrath who was previously general manager of Eliza Park and bloodstock sales manager for Coolmore Australia.

“This may be a family-owned venture but it’s a business, not an indulgence. The Fung family has made a huge commitment to the industry and we’re very mindful that, with 150 staff, there are a lot of people’s livelihoods dependant on our success. It’s fair to say that Aquis has already significantly stimulated the bloodstock economy and you won’t see too many bigger investors, especially from overseas with a 30-year investment history in this country, enter the industry,”  he said.

McGrath, who’s based in the Hunter Valley but spends two to three days a fortnight at the Canungra property in Queensland, says he has a degree of ‘autonomy’ in running the business but that the family is not detached from its operation. “I would speak to Justin on a daily basis. He’s passionate about racing and has a great mind for marketing and promotion. He and Tony are great thinkers who are are not shackled by history or tradition,” he said.

Aquis has majority ownership in 200 mares who will go to stud this year.

“Around half of those will go to outside stallions, and everything we breed will be offered for sale,” McGrath said.

That number, by way of comparison, is believed to be about double the estimated 2017 matings of another major Chinese investor, the China Horse Club.

The farm’s expansion has been rapid since 2015 when it purchased, from Nathan Tinkler’s Patinack Farm, four Gold Coast hinterland properties for a reported $15,000,000. They included the Peter Rowsthorn–developed showpiece Wadham Park, on which millions was spent.

And Aquis now has a Hunter Valley presence courtesy of a deal done with Emirates Park earlier this year, which has McGrath and his team managing Emirates Park stud at Murrurundi and the stallions Artie Schiller (El Prado), Dream Ahead (Diktat) and Al Maher (Danehill). Emirates retains ownership of the property and its broodmare band.

“It may seem a bit unusual but it’s not dissimilar to an Australian stud managing a shuttle stallion, and we’ve been able to add what we believe are two exciting new horses to the Hunter roster in Kiss And Make Up (More Than Ready) and Divine Prophet (Choisir),” McGrath said.

Aquis, in Queensland, stands Husson (Hussonet), Spill The Beans (Snitzel), Holy Roman Emperor (Danehill), Furnaces (Exceed And Excel), Domesday (Red Ransom) and Benfica (Lonhro).

The group has not been without some negative publicity in recent times but stands by its decisions, and continues to invest in bloodstock and other major developments.

“We’ve had some personnel changes which have been largely a byproduct of our rapid growth, and I guess you will always face some scepticism as a new competitor in any market place. But we’re here to engage as well as compete and, with other farms and investors, we have an interest in horses such as Invader (Snitzel), Taking Aim (Choisir) and Assimilate (Sebring) and got involved in The Everest via our backing of Houtzen,” he said.

This weekend will hold some high level of expectation for the group, with the likely appearance of potentially top-class and Caulfield Guineas (Gr 1, 1600m) bound Domesday colt Royal Symphony who is nominated for the Exford Plate (Listed, 1400m) at Flemington. The somewhat underestimated Domesday also has high-class mares Oregon’s Day and Daysee Doom in spring action.

Domesday is also the sire of the Queensland Derby (Gr 1, 2400m) winner Ruthven who’s been sold to Hong Kong, which was no surprise given the success of last year’s Queensland Derby winner Eagle Way (More Than Ready) and the 2015 runner-up Werther (Tavistock) in Hong Kong.

The connection between Aquis and Asia is naturally strong and Holy Roman Emperor, twice champion sire in Hong Kong, stands alongside Domesday in Queensland.

“I think we have the right mix of stallions to suit the various markets. Dream Ahead is working. He’s had three stakes winners from Redoute’s Choice mares so that nick is working. That gives him a Hunter profile and we’re confident that Kiss And Make Up and Divine Prophet, who’ve been very well supported, will similarly justify that standing.

“In Queensland, there’s opportunity to promote young stallions covering mares with a sprint profile. It’s a good launching pad as we saw with the numbers booked to Spill The Beans last year, and we’re getting a similar response with Furnaces who’s a fast son of Exceed And Excel. The template was there with Spill The Beans,” McGrath said.

McGrath says the timing is right with the stallion placement at Canungra – especially after  the renowned Glenlogan Park announced it would no longer be standing stallions.

“We’re trying to support Queensland breeders with price point and payment schemes. We’re looking to be the premier farm in Queensland and, from there, to have a national and international presence,” he said.

Kiss And Make Up is certainly an interesting addition to the roster. The son of More Than Ready (Southern Halo) won at his first two starts as a two-year-old, but perhaps generated most publicity as the horse behind the reconciliation of Gai Waterhouse and John Singleton.

Waterhouse and Singleton raced many horses before one of their best, More Joyous (More Than Ready) became the subject of a public falling out after the mare’s defeat in the 2013 All Aged Stakes (Gr 1, 1400m) at Randwick. They later combined with others to race Kiss And Make Up (out of Singleton’s Group One-winning mare Fashions Afield who was knocked down to Waterhouse for $150,000 at Magic Millions.

“Yes, he’s the horse who got Gai and Singo back together but, more importantly, he was a fast, high-class juvenile who did beat Capitalist in the Todman (Stakes) and breeders have rallied behind him,’ McGrath said.

The Fung family was part of a syndicate, headed by Coolmore, which paid $2,400,000 for a Medaglia d’Oro (El Prado) colt out of Hoss Amor (General Nediym) at the recent Inglis Australian Easter sale – just part of a significant spend over the past two years in the bid to acquire a stable of young, racing stock and possible stallion prospects.

McGrath’s says the Aquis charter also centres on attracting new investors into both the racing and breeding sectors. “That’s a key and we are continuing to attract new customers. The overall business has snowballed in the past couple of years and the intention is to be here for a long time to come,” he said.