Commercial and Investments

Investment Portfolio

Hīkapu Reach Mussel Farm

The Trust owns 10.86ha of marine farm water space located in the Hikapu Reach in the Marlborough Sounds. The marine farm is managed under contract and the Trust receives its return from harvesting off the farm as lines mature. Annual operating performance is a function of yield and quality of product.

The True Honey Company

In 2025 the Trust completed its exit from beekeeping and honey production and no longer has any direct involvement in honey production activites.

Managed Funds

The Trust's portfolio is managed by external investment managers and provides exposure across a range of asset classes, sectors and geographies, complementing the Trust’s whenua‑based and direct investments.

Miro Limited Partnership

The Trust has made a capital investment into Miro Limited Partnership (MLP). The partnership’s objective is to commercialise high-value varieties of berries in partnership with Māori Landowners.

Miro-Meihana Koata LP

The Trust has invested into the Miro-Meihana Koata LP. This a blueberry partnership located in Te Teko. T

Zespri Group Limited

The Trust holds a direct share investment in this public unlisted company that has evolved from our historical position of being a Kiwifruit Operator as a perpetual lease landowner.

Centuria NZ Industrial Fund

This limited liability company is established as an open-ended fund to invest in a portfolio of strategically selected industrial assets that provide both tenant and location diversification. The key objective is for the fund is to deliver a sustainable and stable annual income return plus capital growth.

Te Pūia Tāpata LP (Māori Direct Investment Fund)

The Trust has made a committed capital investment into Te Pūia Tāpata LP Investment Fund. This is an investment fund headed by a Project Team with the support of the New Zealand Superannuation Fund (NZ Super) and with significant consultation from Māori and Iwi Investor Groups. The Fund operates as a collective investment vehicle focused on large-scale direct investments in New Zealand businesses.

Hāpai Commercial Property Fund

The Trust has invested in this fund which invests with other Iwi into property related investments.