Ngāpuhi fund aims for gold
A crown corporation set up to invest in the assets of a future Ngāpuhi settlement purchased kiwifruit orchards in Kerikeri and Maungatāpere and a commercial building in Kerikeri.
Tupu Tonu Vice President Ripeka Evans said that in its first year the fund committed 10% of its $150 million in pūtea.
She specifies that the primary sector and real estate are priorities for the fund, in accordance with the letter of expectation from the shareholder ministers.
” There is no secret. We will publish our annual report very soon which will give the public and the Ngāpuhi more comfort and assurance that we are on the right track to continue investing. In particular, investing for the long term through the rohe for the long term,” she says.
When a settlement with ngā hapū o Ngāpuhi is finally reached, the assets of Tupu Tonu may be handed over, any increase in capital value over $150 million will not be considered in the settlement amount.