It’s our responsibility… and we take it very seriously
Although each endowment fund is monitored and accounted for individually, the capital is combined with the other funds managed by Te Karaka Foundation in order to reduce costs and risks.
Te Karaka Foundation’s Investment Advisory Committee provide guidance to trustees, who developed the investment policy and appoint and supervise the specialist investment advisors – Craigs Investment Partners. Craigs manage the portfolio for Te Karaka Foundation, and several other community foundations in New Zealand.
Te Karaka Foundation’s endowment funds are invested in a diversified, balanced portfolio, which includes fixed interest, New Zealand, Australian and international shares, and listed property investments. The focus is on investing in high quality assets, in order to protect the capital value of the fund and provide a regular cashflow for distribution to the Taranaki community.
Investment Advisory Committee Members
- Ken Horner, Te Karaka Foundation Trustee (Chair)
- Kevin Landrigan, Partner, BDO
- Maurice Betts, Retired Financial Adviser, Former Councillor
- Craig Williamson, Te Karaka Foundation Trustee
Te Karaka Foundation will make grants to the Taranaki community from the income earned on the endowment investments each year, in line with donor wishes. A portion of the income will be retained to maintain the real value of the fund. Each year up to 1% of the fund value will go towards Te Karaka’s operating expenses.
Initially, Te Karaka Foundation will work with local funders and community leaders to identify areas of need in Taranaki and will form a Distribution Committee to oversee the granting of unspecified funds. Granting from the Taranaki Fund is expected to commence within three to five years of Te Karaka’s public launch. Any income earned prior to this will be retained to build the fund.
All Te Karaka Foundation trustees and committee members are volunteer stewards of the Foundation on behalf of the Taranaki community.