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11

Higher annual grants to marae, buying more land to

grow our tribal estate, helping whaanau into home

ownership and better rental situations, promoting reo

and tikanga, creating employment opportunities and

maintaining our focus on education are our top priorities.

We are developing our strategy for the allocation of

Relativity funds and expect to commit a significant

portion of it to advancing these priorities. However,

achievement over the long-term relies on the success

of our commercial activities. The diversification

strategy developed by Tainui Group Holdings is

contingent here and Te Arataura fully supports the

plan to broaden the investment portfolio.

2016 has been a solid year. We have been in strategic

development phase in recent years and that has come

to fruition with the launch of education and reo and

tikanga plans; advances in employment, housing

and marae development programmes; progress in

outstanding claims and Right of First Refusal issues; and

the continued embedding of Tai Tumu Tai Pari Tai Ao.

I want to particularly acknowledge the Hauraki Maori

Trust Board with whom we reached mutual agreement

over allocation of commercial fisheries and aquaculture

assets and reaffirmed our long-standing whanaunga

relationship. Details of our overall progress can be

found in the Operations Report on

pages 22 -43

.

We have continued to foster strategic relationships with

likeminded organisations where mutual benefits can be

achieved and we are well supported by the corporate

sector. The Crown is also an obvious important

relationship given our claims history, current outstanding

claims, and common goals for development.

And while 2016 has been strong, 2017 and beyond

will be stronger yet. We have an improved governance

1.13

0.63

1.23

5.77

0

0.53

1.48

0.95

1.21

1.94

3.33

7.02

5.11

7.34

4.38

4.36

6.76

7.11

6.14

22.35

9.40

20

25

15

10

5

0

‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16

$M

Puna kupu reo waananga with Waikato-Tainui kaumaatua, 2015

YEAR

20 YEARS TOTAL DISTRIBUTIONS

*