The Assets Trust held its annual Special General Meeting at Whakaue Marae, Maketu on 16 April 2016. The purpose of the hui was to provide the tribe with an update of both the investment and distribution decisions of the Trust, as well as to invite tribal input into the distribution policies for the next year.
Membership turnout of 30 members was positive, although just short of the required quorum of 35. As such resolutions were deferred until the AGM on Sun 25th September 2016.
The Trust reported net assets of $14,778.127, spread across a diversified portfolio of forestry, property, mining, bonds, equities and cash investments. Trustees noted that interest rates are currently low and market forecasts predicted a downturn. Accordingly, the Trust would need to work hard to achieve growth targets over the next year.
On the distribution side, the Trust distributed $707,975 in grants this year, providing $100,000 for each of the six Whakaue marae for capital projects. In addition, the Trust has supported various Whakaue community and sports groups, Whakaue tikanga activities, Tamatekapua Tūpuna Whare and Ngāti Whakaue Housing. The Trust will fund along with other Whakaue entities, the Whakaue Whakanuia event to be held on Saturday 1 October 2016.
For further information about the Trust and the Asset Trust Grants, please contact Te Puritanga Jeffries at GHA via email – firstname.lastname@example.org or by phone on 07 3483599.
Distributions: Budget vs Actuals