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Home / Northern Advocate

Solid first year for Ngāpuhi's $150 million-plus investment fund

Mike Dinsdale
Mike Dinsdale
Editor. Northland Age·Northern Advocate·
3 Feb, 2022 10:28 PM3 mins to read

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Sir Brian Roche says the first year of Tupu Tonu, the Ngāpuhi Investment fund has been 'solid'.

Sir Brian Roche says the first year of Tupu Tonu, the Ngāpuhi Investment fund has been 'solid'.

The man leading Ngāpuhi's $150 million-plus investment fund says it had "a solid start" with the purchase of buildings and kiwifruit orchards boosting the fund's value.

"A solid start" is the assessment of the first year of Tupu Tonu, the Ngāpuhi Investment fund by its chair Sir Brian Roche.

Ngāpuhi Investment Fund Limited was established as a Crown company by the Government last year. It had an initial capital of $150m to acquire and grow a portfolio of commercial assets that can be offered by the Crown in the Treaty of Waitangi negotiations with ngā hapū o Ngāpuhi.

Sir Brian said the first year had focused on laying the foundations to build a high performing commercial investment portfolio across Ngāpuhi's rohe.

"We've been methodical and considered setting up Tupu Tonu in line with good industry practice and then moving to understand Ngāpuhi commercial aspirations."

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Deputy Chair Ripeka Evans said Covid restrictions meant Tupu Tonu couldn't meet with as many groups within Ngāpuhi as they would have liked over the year.

"That was frustrating. But as restrictions ease it is definitely our intention to have more kanohi ki te kanohi (face-to-face) meetings across Ngāpuhi Nui Tonu."

CEO Tania Heyrick said Tupu Tonu also made its first investments buying two high performing Kiwifruit orchards and a commercial building in the region.

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"The Meridian building - a high quality and fully tenanted building in Kerikeri - was purchased for $6.6 million and the Kiwifruit orchards at Maungatapere and Waipapa for $3.9 million for $4.9 million respectively. There is potential to further develop these orchards and create additional value.

She said they had a "whenua-based investment approach" with land, commercial property and primary sectors "high on the list".

"Over the coming year, we will continue to progress existing proposals in water and housing, as well as exploring opportunities to invest in forestry and renewable energy. The intention is to have a spread of assets across the Ngapuhi rohe."

Tupu Tonu is a socially responsible investor and has regard to the cultural, social, environmental, and regional economic development impacts of our investments, she said.

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"We are looking to work with organisations that provide support and skills to those not in formal education or employment in Te Tai Tokerau and will work with local suppliers and contractors where possible to support regional economic development."

Heyrick said this year some of the profits from Tupu Tonu investments will be made available to Ngāpuhi for social development and governance training.

"We are working on the disbursements programme now and expect to release further detail in the middle of this year.

"These disbursements are a way for Ngāpuhi to receive some benefit from Tupu Tonu investments now."

More information can be found at tuputonu.co.nz

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