The Rotorua Energy Charitable Trust is looking to change its fund management team and should be ready to announce its preferred option before Christmas.
Trust chairman Grahame Hall said in the 20 years since the trust was formed it had reviewed the way it managed its investments on two previousoccasions.
"On this occasion we hired a consultant to manage the process and called for proposals from a number of operators who work in this area, including the incumbents PCML (Perpetual Capitol Management), a wholly owned subsidiary of the Rotorua Trust.
"We shortlisted them down to four, including the incumbents PCML, and trustees interviewed representatives from the four groups."
He said a consulting agreement was being drawn up with the trust's preferred group and an announcement would soon be made regarding the successful applicant. It was too early to say if anyone would lose their jobs at PCML, which employed four people who worked out of the trust's Rotorua office.
"Trustees, management and staff strive to do the very best they can to grow the capital fund and at the same time prudently distribute back to our community as much money as they can through donations and grants.
"The trust started off with $32million 20 years ago, has built the original $32million up to almost $150million and at the same time distributed almost $100million back to the community," he said.
