"NTP Chief Executive Tony Sewell says the Ngāi Tahu’s rural investment portfolio currently represents 1/6 of the Tribes commercial asset base. "Quite simply we are looking to diversify the overall portfolio in line with the Tribes investment policy.
Te Rūnanga o Ngāi Tahu Kaiwhakahaere Mark Solomon says the iwi has a number of policies in place that guide the decision making of those that lead its commercial entities, including the Group Investment Policy Framework, finalised this year, which encourages Ngāi Tahu Holdings Corporation and the subsidiaries to diversify the investment portfolio. "All our subsidiaries will, at times, have to make decisions to sell assets in order to reinvest in a manner that is consistent with our Investment Policy. We see diversification as being essential to secure the tribe’s future financial success."I think we make a mistake when we just consider land as a commodity that generates profit. I am not happy with the blame being placed on the policy - who signed off the policy? The iwi decides the policy, in line with the values of the members of the iwi. I am not sure where the value of 'selling land' sits but it'll be well down the list i'd guess.
I have checked out the annual report and it says that the Group Investment Policy Framework is designed to get higher returns and provide liquidity and they will achieve that by "moving unproductive assets". The goal is to build net assets from 500M to 1B by 2015 - that's about 48 months away.