Millionaires Dig Dirt as Czech Farm Boom Spawns Fund

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Martin Burda gave up managing $8.1 billion of securities at the Czech investment arm of Erste Group Bank AG for something that’s produced better returns than stocks and bonds: dirt.

Burda, 43, last month helped start Cesky Fond Pudy, the first investment company targeting Czech farmland. A second fund is raising money as soaring agricultural profits drive a surge in land values that contrasts with the country’s stagnant stock market and near-zero yields on government bonds.