The Tai Tokerau Māori Trust Board was initially set up to administer the sum of 57,000 pounds from surplus lands within the Tai Tokerau boundaries in 1953. This was invested in Government stock paying approximately 3% interest.
The function of the Board, as defined in the Maori Trust Boards Act 1955 is to:
“Administer its assets…for the general benefit of it beneficiaries, and for that purpose …provide money for the benefit or advancement in life of….beneficiaries”
The Mission Statement issued by the Board is to:
“Use its resources for the maximum social, economic and educational advantages of all beneficiaries”
Over years the Board has consolidated their position considerably ensuring conservative management of assets on behalf of its beneficiaries. The Board has slowly reduced debt overall, thereby increasing its equity to around $10m. They continue to strategically plan investments with expert advice.