Whai Rawa

He ara Whai Rawa mō Ngāi Tahu Whānui
A pathway to prosperity for Ngāi Tahu Whānui

Mō tātou, ā, mō kā uri ā muri ake nei
For us and our children after us

Whai Rawa is essentially about encouraging whānau to build pūtea to ensure a greater range of possibilities for the future. By the end of June 2009, less than two years after its launch, 14 500 were enrolled with Whai Rawa including over 50% of registered tribal members aged under 16.

Te Rūnanga and member contributions

Te Rūnanga contributed close to $3m in matched savings, annual distribution payments, investment fees and administrative costs over the past year. For the 2010 calendar year, Te Rūnanga has committed once again to match member savings up to $200 and will continue to meet all investment fees and administrative costs for the new financial year.

Member Withdrawals

As Whai Rawa continues to grow member withdrawals for tertiary education, first-home purchase and retirement are also growing with more than 170 withdrawals made during the year.

Whānau all around the world are now utilising the scheme with the first overseas first-home purchase and tertiary education withdrawals being made by members in Australia.

Fund growth and performance

The fund balance at 30 June 2009 had grown to over $10.7m, from $6.95m at 30 June 2008. Member contributions in the 12 months to 30 June 09 totalled $1.95m up from $1.48m over the previous 12 months.

Return on funds invested for the year ending 31 March 2009 was 7.44% before tax and fees. With Te Rūnanga meeting all fees and operating costs as well as contributing matched savings and a distribution, the return was once again very positive.

Whai Rawa Fund Limited closely monitors the performance of its investment and, for the meantime, is continuing with retaining its funds in cash. While returns on cash are now declining, the primary focus at this stage is on retention of capital with further consideration on future investment options likely in the 09/10 financial year.

The challenge ahead is to continue the growth in membership and savings levels. We will keep providing information on the benefits of joining and saving with Whai Rawa via our website, printed resources and our ongoing road show visits around the country.

Buying a Home

Campbell Wilson got serious about saving for his own home at 30. And thanks to Whai Rawa the bicycle shop owner has now purchased his dream home.

Campbell was one of the first people to invest in the Ngāi Tahu savings scheme, and in just three years saved a grand total of $20,000 towards his first home. Whai Rawa matched his savings contributing an extra $200 per year and paying out dividends of around $350.00 on top of the accumulated interest he earned. [More...]