Ngāti Mākino Assets Limited
“Increase the wealth of Ngāti Mākino in a manner consistent with the Authority’s kaupapa and mandate”
The Company is part of the Ngāti Mākino post settlement governance group. Its purpose is to:
Receive and hold any assets of a commercial nature (excludes cultural assets), on behalf of the Authority in the furtherance of the purposes of the Authority, which are transferred by the Crown directly or indirectly to the Authority or the Company on behalf of Ngāti Mākino in settlement of the grievances of Ngāti Mākino arising from the actions and omissions of the Crown in breach of the Treaty of Waitangi;
Receive, hold and manage any other assets on behalf of the Authority or Ngāti Mākino in the furtherance of the purposes of the Authority;
Act with Natural Person Powers, having the ability to:
Delegate certain matters
Invest funds on a prudent commercial basis in:
Commercial/Residential and other property
Have in place appropriate governance and management structures applicable to the nature of the Company.
Our Responsibilities and Strategic Goals
The Company will be responsible for managing the Authority’s assets that are of a commercial nature (excludes cultural assets), on a prudent, commercial and profitable basis, undertaking all commercial activities of the Authority, either itself or through any subsidiary Company or mirror Company established for that purpose, on behalf of and solely for the benefit of the Authority.
This is to be achieved by:
a) Expertly and prudently managing the Group’s investment assets so that:
i. Investment activities match the best;
ii. Investments are high performing without undue risk; and
iii. Sustainable distributions are maintained
b) Successfully growing the economic strength and identity of the Group so that it:
i. Is a meaningful economic force in Aotearoa;
ii. Re-establishes a territorial footprint; and
iii. Has investment strategies that reflect Ngāti Mākino values
In meeting these objectives the Company will:
a) Preserve and grow shareholder value in the assets under its control;
b) Maintain an appropriate portfolio of investment assets (“investment fund”);
c) Grow the economic strength of the Group by pursuing investment opportunities in areas where the Group has competitive advantage(s); and
d) Provide the required level of cash flows to the distribution requirements of the Group.
The Company is:
a) Expected to have in place appropriate governance and management structures and processes in line with the Authority’s policy given both the types of investment assets under management and adherence to best practice.
b) Expected to manage the endowment lands under an agency arrangement to ensure that the Charitable purpose of the endowment is fulfilled.
c) Expected to have in place prudential policies which cover the matters set out in the Authority’s strategic plan including policies relating to debt to equity ratio, maintenance of cash flow and security over assets.
d) Not permitted to conclude any transactions where the value of the transaction is in excess of $1,000,000 (exl GST) without the approval of the Authority. The Company is expected to provide early notification of such transactions, ideally within the annual plan.
e) Approved internal and external benchmarks are to be used when assessing financial performance.
The Company embraces the values of the Authority and commits to ensuring these values become imbedded in the organisation and are truly reflected in the way we behave and do business.
Nature and Scope of Business
The Company is responsible for the generation of wealth for the Authority for the benefit of Ngāti Mākino Whānui. In doing so it will endeavour to:
a) Preserve and grow shareholder value over the long term;
b) Ensure appropriate governance processes are in place to protect Ngati Makino assets for future generations;
c) Provide commercial management and monitoring of investment performance on behalf of the shareholder;
d) Generate, analyse, execute and manage commercial investment opportunities aligned with the Authority’s investment objectives;
e) Develop a strong and respected Ngāti Mākino commercial brand;
f) Manage cash flow, treasury functions, and balance sheet of the Authority to ensure distributions to the Group are optimised;
g) Communicate with the Shareholder on all matters on a “no surprises” basis;
h) Enhance the influence and reputation of Ngāti Mākino through its investments; and
i) On-manage non-core investments when the Authority and the Company agree it has the capacity and capability to do so