Indigenous investments: Are they different? Lessons from Iwi*

Andre Poyser, Ayesha Scott and Aaron Gilbert
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Andre Poyser: GK Capital Management, Kingston, Jamaica
Aaron Gilbert: AUT Business School, Auckland University of Technology, Auckland, New Zealand

Australian Journal of Management, 2021, vol. 46, issue 2, 287-303

Abstract: Iwi, the tribal entities of the MÄ ori people of Aotearoa New Zealand, now manage billions of dollars, a task requiring increasing sophistication in their investment strategies. Asset classes of Iwi have evolved from the properties, fisheries quotas, and cash they received through Aotearoa New Zealand’s Treaty settlement process to now include major investments in private equity, infrastructure, and other financial assets. The literature has, however, been largely silent on Iwi investments. Performance discussions tend to emphasize a western approach focusing on traditional financial performance measures. Using Waikato-Tainui operated Tainui Group Holdings (TGH) as an example, we analyze a sample of corporate disclosure documents. We find the intent of tribal (Iwi) investment firms may not be adequately captured through traditional investment frameworks and classic performance metrics. Drawing parallels between Iwi investment firms and impact investing widens the scope for financial managers to think differently about how we quantify Indigenous investment performance.

Keywords: Impact investing; Indigenous investments; intergenerational investor; MÄ ori; tribal investments (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:46:y:2021:i:2:p:287-303

DOI: 10.1177/0312896220935571

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