The New Plymouth council is set to sell off its controversial multimillion-dollar investment in Tasmanian dairy farms.
Mayor Andrew Judd says his four-day trip to visit the Australian assets this week will form part of that process.
The farms are part of the council's Perpetual Investment Fund, formed when it sold 45 percent of its Powerco shares in 2004 for $365 million.
Last year, the Tasmanian properties had a book value of $152 million, a large proportion of the investment fund's $203 million.
Mr Judd said the fund is out of balance and because of this has performed poorly against the wider sharemarket.
Selling the farms would allow that imbalance to be redressed, he said.
