It is being assisted by an Establishment Advisory Board of experts, who have been contracted to provide advice on how the Fund will operate. The Crown is working through the establishment of the Fund. The Crown will own the Fund, which will operate at arm’s length from ministers. Ngā hapū o Ngāpuhi will have the option, in future negotiations, of purchasing the Fund or its assets.īy acquiring and growing assets before negotiations begin, the Fund will help ensure ngā hapū o Ngāpuhi do not miss out on assets such as land that may become available while they are doing the necessary work of developing mandates. The Crown is establishing a Fund, which will acquire a diverse range of assets that the Crown can make available in future negotiations with ngā hapū o Ngāpuhi. The intention to explore the idea of a fund was announced by the Minister for Māori Development and Minister Little in December 2019. On 18 August 2020, the Minister for Treaty of Waitangi Negotiations Andrew Little published an open letter to ngā hapū o Ngāpuhi with an update on the establishment of an investment fund. Supplementary Analysis Report: Ngāpuhi Investment Fund (PDF 297KB).See the background on the development of the fund: ![]() ![]() Investment Fund a Step Towards Ngā Hapū o Ngāpuhi’s Future Prosperity.Read the press release from 2 February 2021: On 1 December 2021, shareholding Ministers responded to Tupu Tonu’s response to the Letter of Expectations: On 5 July 2021, shareholding Ministers set out their expectations for Tupu Tonu: Letter of Expectations for 2022 / 2023 (PDF 213KB).On 20 April 2022, shareholding Ministers set out their expectations for Tupu Tonu for 2022 / 2023: The Board members are Sir Brian Roche (Establishment Chair), Deputy Chair Ripeka Evans (Ngāpuhi, Ngāti Porou, Te Aupōuri, Ngāti Kahu), Lindsay Faithfull (Ngāpuhi), Sarah Petersen, and Geoff Taylor. The Board members have been appointed for their collective experience and knowledge of fund management and investment, governance, business, and the cultural and economic context of Ngāpuhi and Te Tai Tokerau. The Minister also announced the Fund’s Board members, who are responsible for developing the kaupapa and investment strategy of the Fund. You can read more about the Fund on the Tupu Tonu website, including how to propose potential investments. Investment decisions will be made by the Fund itself, according to its kaupapa and investment strategy, which will be developed by the independent board.Ī part of the Fund’s annual revenue will be used for grants to ngā hapū me ngā uri o Ngāpuhi. The Fund can invest in a wide variety of New Zealand assets, including land-based businesses, as well as standard financial assets to help the Fund grow. Tupu Tonu, with initial capital of $150 million, is a Crown company that will acquire and grow a portfolio of assets that will be offered by the Crown in negotiations with ngā hapū o Ngāpuhi. The ability to engage in meaningful negotiations for commercial redress is an important part of working to restore the Crown’s relationship with ngā hapū o Ngāpuhi. It is a significant step in the Crown’s efforts to restore its relationship with the iwi and its commitment to help ngā hapū meet their economic aspirations for the future. Minister for Treaty of Waitangi Negotiations Andrew Little has launched Ngāpuhi Investment Fund Limited, trading as Tupu Tonu. ![]() Ngā hapū o Ngāpuhi Tupu Tonu - Ngāpuhi Investment Fund Limited Whanganui Land Settlement (lower reaches of Whanganui) Rangitāne o Wairarapa and Rangitāne Tamaki nui-ā-Rua Ngāti Kahungunu ki Wairarapa Tāmaki nui-a-Rua Central Whanganui (Te Korowai o Wainuiārua)Ĭo-management of Waikato and Waipa rivers
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