Mint Secures Partnership with Te Tumu Paeroa
16 September 2014
MINT SECURES PARTNERSHIP WITH TE TUMU PAEROA
Mint Asset Management is pleased to advise that it has entered into an agreement with Te Tumu Paeroa – an independent professional trustee organisation that manages Maori land and assets. This move will enable Te Tumu Paeroa to invest in funds managed by Mint Asset Management.
It is the first time in 92 years that the organisation has invested in listed equities. Previously it preferred direct investment in land and land related business opportunities as well as cash and bonds. Te Tumu Paeroa manages 2,000 Maori land trusts across 100,000 hectares of Maori land.
Debbie Birch, GM Funds Management and Commercial Development says that Te Tumu Paeroa wants to diversify its investment portfolio to improve targeted returns.
“Through better returns and a more balanced portfolio, we will be better positioned to deliver on our strategy of unlocking the potential of Maori land and assets. This step is part of a move towards achieving greater diversity in our portfolio of assets. Mint Asset Management was shortlisted from three fund managers and was chosen for its outstanding history based on return outcomes, accountable corporate governance standards and proven investment strategy”.
Debbie notes that Te Tumu Paeroa’s owner funds remain in conservatively managed fixed income securities.
Mint Asset Management chief executive Rebecca Thomas says it is delighted to have the opportunity to work with Te Tumu Paeroa. “This partnership brings together two New Zealand owned organisations which share a genuine commitment to delivering results to their clients. We look forward to working with Te Tumu Paeroa to deliver on this promise and making a valuable contribution to their investment mandate.”
Mint Asset Management has more than $200 million in funds under management and provides investment vehicles and solutions for retail and institutional investors. The company assumes a disciplined approach to investment with expertise across the New Zealand, Australian and global markets.
About Te Tumu Paeroa
Te Tumu Paeroa: the new Māori Trustee works with owners of Māori land to protect and build their assets for now, and for future generations. They manage 2,000 trusts, on 100,000 hectares of land, on behalf of 90,000 owners. As an independent professional trustee organisation they offer a range of services including: trust and property management; registry, payments and scholarship administration; and enterprise development and monitoring.