Investment Committee2023 Independent Member Appointment Process
Contribute to the intergenerational wealth of Waikato iwi.
Drive best practice in iwi investment management, governance, and reporting.
Maaku anoo e hanga tooku nei whare
Ko ngaa pou oo roto he maahoe, he patatee
Ko te taahuhu, he hiinau
Me whakatupu ki te hua o te rengarenga
Me whakapakari ki te hua o te kawariki
Whakatupuranga 2050 involves three key elements fundamental to equipping tribal members with the capacity to shape their own future.
- Pride and a commitment to uphold their tribal identity and integrity.
- Diligence to succeed in education and beyond.
- Self-determination and 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 which amounted to $170 million.
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.
The Waikato Raupatu River Trust (‘the River Trust’) was established after pursuit of additional grievance claims with respect to the Waikato River, which resulted in a Deed of Settlement signed in 2008. The River Trust was established to pursue a range of general and specific purposes in connection with the Waikato River 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’). The River Initiatives Fund supports 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.
Again, under the 2008 Deed of Settlement, the River Trust established the Co-Management Fund. This fund assists Waikato-Tainui in engaging in co-management arrangements relating to the river. The Co-Management Fund consists of an annuity of $1 million for 30 years.
The Waikato Endowed Colleges Trust (‘WECT’) was established to develop, establish, and maintain the Endowed Colleges and the realisation of the vision of Sir Robert Mahuta in relation to the Endowed Colleges. The relationship with WECT is through the River Trust Deed whereby a sum of $20 million was given to WECT to establish the Sir Robert Mahuta Endowment Fund (the ‘Endowment Fund’). The purpose of the Endowment Fund is to support the College in perpetuity as an educational centre within a national and international community of scholars.
The combined assets of the Group total approximately $1.9 billion. Wholly-owned subsidiary Tainui Group Holdings was appointed as the Chief Investment Officer of the Waikato iwi assets in January 2021 and currently manages a net asset base of $1.57 billion. The investment portfolio is diverse and includes property, private equity, equities, fixed income, natural resources, cash, and settlement receivables.
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 Pootatau te Wherowhero VII. Te Arataura is responsible for setting the strategic direction to achieve Whakatupuranga 2050.
The current members of Te Arataura are:
- Tukoroirangi Morgan (Chair)
- Ngira Simmonds (Deputy Chair)
- Vanessa Clark
- Jackie Colliar
- Maxine Graham
- Huirama Matatahi
- Tori Ngataki
- Hinerangi Raumati
- Linda Te Aho
- Donald Turner
- Rangitamoana Wilson
Group Investment Committee Nominating 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 Nominating Committee (“GIC Nominating Committee”).
The GIC Nominating Committee assesses the skills and competencies required for the Group Investment Committee (GIC), identifies and evaluate potential GIC members including observers and makes recommendations to Te Arataura regarding candidates, including observers for GIC membership.
The responsibilities of the GIC Nominating Committee include but are not limited to:
- considering the appropriate composition of the GIC, given the skills requirements set out in the GIC Terms of Reference and general principles of effective committee composition;
- considering the skills required to fill any gaps in the desired composition of the GIC including, as appropriate, including allowing for succession The Committee is expected to liaise with the Chair of the GIC on skill gaps in the composition of the GIC;
- identifying and review potential candidates and observers for GIC membership, including any potential Chair of the GIC;
- making recommendations to Te Arataura for consideration and approval, both as to GIC composition and as to potential candidates and observers, including the Chair of the GIC;
- making recommendations to Te Arataura for consideration and approval as to the reappointment of any GIC member or observer;
- considering the findings of the annual performance review conducted by the Chair of GIC; and
- making recommendations to Te Arataura for consideration and approval as to the termination of any GIC member.
Appointment of GIC Nominating Committee Members
Members of the GIC Nominating Committee, including the Chair, are appointed by Te Arataura.
The GIC Nominating Committee consists of at least three and no more than four members. Two members are appointed from Te Arataura. Members will have equal voting rights. If necessary, the Chair will have a casting vote.
The current members are:
|Independent Member (Chair)
|Independent Member (Retiring)
Te Arataura Member
|Te Arataura Member
Knowledge, Skills and Experience
To be effective the GIC Nominating Committee requires skills and experience relevant to the identification and evaluation of those with skills in the oversight of management and administration of investment portfolio assets.
Particular Skill Requirements for this Appointment Process
For this appointment process, the Nominating Committee is particularly interested in candidates who possess the following skills.
- Values, knowledge, and interpersonal skills such as Te Reo Maaori and tikanga literacy, which are conducive to being effective in a multi-stakeholder, post-settlement iwi and Maaori environment.
- Institutional investment management experience.
- Governance experience – understanding of board and committee good governance practice.
- Nominating Committee experience (beneficial but not essential).
The Committee meets on an “as required” basis. The Chair may call a special meeting on his/her/their own motion or if requested by any member.
The appointment of members will be for an initial period of three years, after which you will be eligible for re-appointment. Re-appointment will be subject to a formal review of your performance, in addition to the needs of the committee at that time.
Most meetings are held in person in Taamaki Makaurau|Auckland with the remainder held via video conference.
GIC Nominating Committee Independent Member Fees
The remuneration for this position is an hourly rate determined and to be confirmed by Te Arataura and reflective of the skills and experience required for the role.
Candidates are asked to note the following indicative dates.
|Interview shortlist confirmed
|1 August 2023
|Interviews with Nominating Committee
|11 August 2023
|Preferred candidate reference checks
Mid August 2023
|Recommendation to Te Arataura
|Late August 2023
Please apply using the process set out in the advertisement – kia ora.