September 16, 2014
Te Tumu Paeroa spreading risk
The new Maori Trustee Te Tumu Paeroa is going to play the sharemarket.
Funds management and commercial development general manager Debbie Birch says it has entered an agreement to invest in funds managed by Mint Asset Management, which manages more than $200 million in funds for retail and institutional investors.
It’s the first time in 92 years that the organisation, which manages 2000 Maori land trusts, has invested in listed equities.
Its previous investments were in land and land related business opportunities as well as cash and bonds.
Ms Birch says money held for owners will continue to be held in conservatively managed fixed income securities.
She says Te Tumu Paeroa wants to diversify its investment portfolio to improve returns, so it is better positioned unlock the potential of Maori land and assets.
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