June 29, 2020
Wairoa Taiwhenua beats banks with investment fund
Ngāti Kahungunu’s Wairoa Taiwhenua has teamed up with Hawke’s Bay Foundation to create an endowment fund for Wairoa iwi.
The foundation manages donations and bequests to create sustainable funding for community purposes, without the original donation being touched.
Chair Nigel How says his taiwhenua gets income from leasing fisheries settlement assets and its own crayfish quota.
In the past it has invested in term deposits, but the new fund will give it higher returns.
It has made an initial investment of just over $100,000.
He says the collapse of the international crayfish market at the start of the COVID-19 pandemic had highlighted the need to diversify its investments.
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