The Tūhoe Trust Fund is a legal structure that holds our resources. It is reflective of the hardship, loss, sacrifice and struggle of the past while also providing hope and growth opportunities for current and future Tūhoe. The Trust Fund is a collective instrument that makes Tūhoe stronger when used in conjunction with the assets that are natural to the Tūhoe way of life: Kinship, values and connection to the land.
of the fund. It is important to look after this “nest egg” or base investment as it helps to fund future investment projects like medical centre’s, tribal buildings and operational projects. It is the responsibility of the current generation to preserve and grow the resources in the Trust Fund, building a strong foundation for the benefit of future generations. It is not ours to spend it all today.
The Trust Fund is made up of Tāona and assets. Tāona are those things that are precious, priceless and irreplaceable to Tūhoe. They are the things that we work for, are culturally significant and last forever. Assets are the items that work for Tūhoe and enable Tūhoe to achieve our goals, protecting the Tāona and the Tūhoe way of life.
This year, we have embarked on a journey to share the learnings from the Trust fund with the wider Tūhoe community. This has been done through a series of discussion sessions with a member from the investment committee. The purpose of these workshops is to increase understanding about the rohe for what the Trust Fund is invested in and what can and is being achieved with these investments.
Since the formation of the Trust Fund, the asset base has grown through prudent investment. The Investment Committee has carefully selected investment options that protect the capital
The total value of the Trust Fund at 31 March 2018 was $365 million. There has been investment in:
Bank CNI Shares Receivables Fixed Assets Shares & Fishing Quota Financial Portfolio Term Deposits
For the financial year ending 31 March 2018, the financial portfolio saw a change with drawing our holdings with New Zealand Asset Management as one of the fund managers. The current year has been another strong one for financial markets, despite global tensions over trade mounting. On the local scene, we have seen a sharp decline in consumer and business confidence following the 2017 general election. This has also seen the New Zealand dollar weaken against its global peers, slipping back to long term averages. In the recent time, the Trust Fund has moved $18M of the liquid assets into Te Manawa o Tūhoe Forestry rights. The assets within the Trust Fund will continue to help grow Te Mana Motuhake and Tūhoetana, enabling continued growth for Tūhoe. The financial portfolio has a target to achieve a 5% per annum real return since its inception in 2010. A ‘real return’ is the return received after deducting tax, fees and inflation from the gross return earned. The real return reflects the increase in the true purchasing power of the capital invested. The financial portfolio has exceeded its target over the term achieving a 5.86% per annum real return over the last 8 years. The Board and Investment Committee has therefore met its mandate for performance.
TWENTY SEVENTEEN - TWENTY EIGHTEEN | HE KORONA WHAKATAENA