Asset Holding Company


Ngati Mutunga o Wharekauri Asset Holding Company (AHC) is an Asset Holding Company established in accordance with the Maori Fisheries Act to initially receive and manage Ngati Mutunga’s fisheries interests. However AHC is also responsible for all the Trusts commercial activities including seafood, property and other investments. The AHC agrees with the Iwi Trust the distributions required to fund its charitable activities and reinvests the remaining funds into growing the Iwi asset base.

AHC is separate from but wholly owned by and responsible to the Trust. It has its own board of directors who are appointed by the Trustees. At least one Director must be Ahi Kaa Tuturu and no more than 40% of Directors may be current elected Trustees at any time. There are currently five directors, two of which are Trustees, and three independent directors.

In 2005 Te Ohu Kai Moana transferred assets to the AHC of Ngati Mutunga o Wharekauri. 

Total assets 
$13,769,000.00 
Population-based assets 
 
  Cash
$40,000.00 
  Quota shares
$205,000.00 
  AFL shares
$401,000.00 
  Total
$646,000.00 
Iwi quota agreement assets  
 

Cash
$815,000.00

Quota shares
$12,308,000.00

Total
$13,123,000.00


As of March 31 2009 the total assets have grown to $17,845,824 and are split as follows:

Note: Seafood Assets (apart from the AFL shares) are at cost as opposed to market value which is significantly higher.