21 Aug 2018

Changes mulled for Tokelau International Trust Fund

12:55 pm on 21 August 2018

The Tokelau International Trust Fund (TITF) is undergoing a review of its purpose amid concerns investment potential is being squandered.

Tokelau fan

Tokelau fan Photo: RNZ Pacific

The fund manages around $US60 million which is invested primarily in New Zealand bank term deposits.

The New Zealand Institute for Pacific Research (NZIPR) recently found this strategy has held back the development of the fund.

Tokelau's finance director Alan Shaw said the trust's board was reviewing the trust deed and was seeking input from the three Taupulega, or village councils.

RNZ Pacific understands the review will seek to open up the opportunity for the TITF to invest outside of bank deposits and introduce pay for the position of chairperson.

The TITF board was lacking investment expertise and proccesses for renewing its membership to full capacity, according to a report released by NZIPR in July last year.