Group Investment
Committee

Background

Waikato-Tainui works for more than 89,000 iwi members affiliated to 68 marae from 33 hapuu. Our latest Annual and Quarterly reports are linked for your information.

Whakatupuranga 2050 involves three key elements fundamental to equipping tribal members with the capacity to shape their own future.

1. A pride and commitment to uphold their tribal identity and integrity;
2. A diligence to succeed in education and beyond; and
3. A self-determination for socio-economic independence.

These three key elements recognise the importance of tribal history, maaatauranga (knowledge, wisdom), reo (language), and tikanga (custom, protocol). They also encourage a culture for success and express Waikato-Tainui’s commitment to develop and grow its tribal assets.

Te Whakakitenga o Waikato (‘Te Whakakitenga’) is the tribal parliament and authority of Waikato iwi and was set up to receive the 1995 Raupatu Lands settlement for grievances under the Treaty of Waitangi/Te Tiriti o Waitangi.

The Waikato Raupatu Lands Trust (‘the Lands Trust’), was established to receive cultural, commercial and other redress assets under the 1995 settlement.

The beneficiaries of the Lands Trust are members of Waikato iwi and the purpose of the trust is to promote the educational, spiritual, economic, social, and cultural advancement of Waikato iwi and its various hapuu in perpetuity.

Pursuit of additional grievance claims with respect to the Waikato River resulted in a Deed of Settlement signed in 2008. The Waikato Raupatu River Trust (‘the River Trust’) was established to pursue a range of general and specific purposes in connection with the Waikato River in order to benefit members of Waikato iwi and the Lands Trust in perpetuity.

Under the 2008 Deed of Settlement, the River Trust received defined parcels of land administered by Waikato Regional Council for soil conservation and river control purposes, 15 sites of cultural significance and the sum of $50 million as a fund (the ‘River Initiatives Fund’) to support initiatives to restore and protect the relationship of Waikato iwi with the Waikato River (including its economic, social, cultural and spiritual relationships) and the protection and enhancement of significant sites, fisheries, flora and fauna in the lower reaches of the river.

The third trust is the Waikato Endowed Colleges Trust set up to develop, establish and maintain the Endowed Colleges (Waikato University and Auckland University) and the realisation of the vision of Sir Robert Mahuta in relation to the establishment of the Endowed Colleges.

The combined assets of the Group total approximately $1.45 billion. The investment portfolio is diverse and includes property, global equities, fixed income, natural resources, cash and settlement receivables. Tainui Group Holdings was appointed as the Chief Investment Officer of the Waikato iwi assets in January 2021.

Te Arataura

Te Arataura is the executive body of Te Whakakitenga, comprising 11 members - 10 of whom are elected by Te Whakakitenga, and one of whom is appointed by the head of the Kaahui Ariki, Kiingi Tuheitia. Te Arataura is responsible for setting the strategic direction to achieve Whakatupuranga 2050.

The current members of Te Arataura are:

• Tukoroirangi Morgan (Chair)
• Jackie Colliar (Deputy Chair)
• Ngira Simmonds
• Linda Te Aho
• Vince Hapi
• Hinerangi Raumati
• Huirama Matatahi
• Maxine Graham
• Craig Barrett
• Tori Ngataki
• Parekawhia McLean

Group Investment Committee

Te Whakakitenga is committed to best practice iwi investment governance.  In 2018, and following an independent investment governance review, Te Arataura established the Waikato-Tainui Group Investment Committee (“GIC”).

GIC supports Te Whakakitenga in its capacity as trustee of the Trusts in fulfilling its fiduciary responsibilities with respect to the investment activities of the Trusts, including overseeing all aspects of investment-related operations.

The responsibilities of the GIC include:

• advising on key documents such as Puna Whakatupu Taangata (our investment framework), the Statements of Investment Policy & Objectives for each of the four trusts, and agreements and commercial arrangements between Te Arataura and other parties relating to the investment of tribal assets;
• advising on investment risk;
• advising on land holdings’ investment strategy;
• evaluating the performance of Tainui Group Holdings Limited as Chief Investment Officer;
• monitoring and evaluating investment performance and costs;
• requesting further analysis or engaging independent consultants as required; and
• working with Te Arataura to develop a capability building programme for Waikato-Tainui.

Appointment of Group Investment Committee Members

Members of the GIC, including the Chair, are appointed by Te Arataura on the recommendation of the GIC Nominating Committee.

The GIC will consist of at least five and up to seven members. The majority of the Committee’s votes, including the Chair’s casting vote, must be held by Independent Members. At least one member will be a member of Te Arataura. Elected Members of Te Whakakitenga are eligible for consideration and selection as members of the Committee. The current members are:

The current members are:

Mark Butcher (Chair)	Independent Member
Simon O'Grady	Independent Member
Taari Nicholas	Independent Member
Maxine Graham	Te Arataura

Knowledge, Skills and Experience

To be effective the GIC as a whole requires diversity of thought, skills, knowledge and experience relevant to oversight of investment and administration of the Trusts’ assets.

At least three members must have substantial experience, expertise and professional credibility in the field of management of financial investments relevant to the Trusts’ current holdings and long-term objectives.

Particular Skill Requirements for this Appointment Process

For this appointment process, the Nominating Committee is particularly interested in candidates who possess the following skills.

• Financial capability/commercial acumen (e.g. accounting qualification and/or demonstrated commercial experience);

• Independence of thought, open-mindedness, forward thinking, and both persuasive and persuadable;

• Iwi, hapuu, marae and/or Ahu Whenua Trust investment experience;

• Experience with impact investing, purpose driven investing, direct investment and/or private equity (desirable).

Time Commitment

Over the next 12 months GIC members can expect ten (10) three-hour meetings, a commitment of around 50 hours (including preparation time). In addition, there will be a small number of stakeholder meetings and some work resulting from those.

From 2025 the GIC’s work is anticipated to normalise around a cadence of quarterly meetings, with a six- weekly update in between. There could be two or three kanohi ki te kanohi hui with the stakeholders every year.

Meetings are generally held in Hamilton or by Zoom.

GIC Independent Member Fees

This is a paid position.

Indicative Dates

Candidates are asked to note the following indicative dates.

Candidate search	27 March to 21 April 2024
Interview shortlist confirmed	w/c 22 April 2024
Interviews with Nominating Committee	10 May 2024
Preferred candidate reference checks	w/c 20 May 2024
Recommendation to Te Arataura	25 June 2024

To view the latest Quarterly Reports please click here.

Please apply using the process set out in the advertisement – kia ora.