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Hot Topic EARNINGS
Hot Topic EARNINGS
Te Ao Māori
3 mins to read

Iwi returns lift but stay low

Ten major iwi investors posted a 3.9% return in 2025, marking a third straight difficult year as property valuations and carbon markets weighed on results.

Key points
  • What’s at stake? $8.5b of iwi capital and the long-term strength of the post-settlement Māori economy.
  • Background: TDB Advisory reviewed the 2025 financial year across 10 iwi managing about 70% of settlement-derived assets.
  • Main players: TDB Advisory and Ngāi Tahu, Ngāpuhi, Ngāti Awa, Ngāti Pāhauwera, Ngati Porou, Ngāti Toa, Ngāti Whātua Ōrākei, Raukawa, Tūhoe, Waikato Tainui.

Ten of Aotearoa’s largest iwi investment groups recorded a modest lift in returns in 2025, but the sector remains in a third consecutive difficult year.

TDB Advisory’s Iwi Investment Report 2025 reviewed the corporate structures, investment strategies, and financial performance of Ngāi Tahu,

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Mike McRoberts Tue, 24 Feb 2026
Contact the Writer: Mike@nbr.co.nz
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Key points
  • What’s at stake? $8.5b of iwi capital and the long-term strength of the post-settlement Māori economy.
  • Background: TDB Advisory reviewed the 2025 financial year across 10 iwi managing about 70% of settlement-derived assets.
  • Main players: TDB Advisory and Ngāi Tahu, Ngāpuhi, Ngāti Awa, Ngāti Pāhauwera, Ngati Porou, Ngāti Toa, Ngāti Whātua Ōrākei, Raukawa, Tūhoe, Waikato Tainui.
Iwi returns lift but stay low
Te Ao Māori,
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