Over the last twenty years, around 70 iwi have reached Treaty settlements with the Crown. The settlements total around $2.4b. In our third annual Iwi Investment Report, TDB estimate iwi have now grown their total assets to around $7.8b.

The eight iwi covered in our report – which account for around 60% of the assets of all post-settlement iwi – have all steadily increased their net assets per member over the last five years. Two iwi, Auckland-based Ngāti Whātua Ōrākei and South Island-based Ngāi Tahu have performed particularly well, with average returns of 16% p.a. and 13% p.a. respectively. Ōrākei’s portfolio however is risky, being made up solely of Auckland property. Waikato-Tainui and Raukawa have generated average returns in line with our benchmark (9% p.a.), portfolio. Tuhoe, Ngāpuhi (which has yet to settle), Ngāti Porou and Rangitāne o Wairau have generated lower returns. Our report looks at how the eight iwi have structured their activities, the investment strategies they have adopted and how their investments have fared.