7 Jun 2012

Rangitikei iwi won't rule out risky investments - chairman

7:20 pm on 7 June 2012

The chairman of the commercial arm of a Rangitikei iwi, Ngati Apa, says his tribe feels they have made a safe bet by buying shares in bricks and mortar types of investments initially, before launching into more risky ones.

Last year the tribe received $15 million in cash along with forestry blocks in their Treaty settlement with the Crown.

Recently the iwi bought $2 million in shares in the Trafalgar Square shopping complex in Whanganui.

Toko Kapea says Ngati Apa decided to take a very simple and passive approach first, but he says his tribe won't rule out looking at more risky investments in the future - once they are in a better financial situation.

He says they will become more active in the longer term and will look at a whole range of different ventures.

But Mr Kapea says the majority of Ngati Apa investments will be in safer projects like property investments.

Mr Kapea says his iwi appreciates there will be times when they will need to put themselves out there to go for the bigger returns.