Helping you with your life goals
Whai Rawa is a medium-long term investment scheme set up by Te Rūnanga o Ngāi Tahu in 2006 to improve the wellbeing of Ngāi Tahu whānau by providing a vehicle for distributions to eligible whānau, encouraging savings for home ownership, tertiary education and retirement and growing financial capability.
This year Whai Rawa celebrates 35,384 members in the scheme, $165.2 million in funds under management and over $37 million collectively withdrawn by whānau towards their home ownership, education and retirement. Whai Rawa's milestones are a testament to the positive impact on whānau lives.
He tikaka hou, he oraka hou Changing habits, changing lives
Pēpi
Newborn
- Whai Rawa wants to see all pēpi taught good savings habits to encourage a lifetime of benefits
Mātauraka
Tertiary education
- Whai Rawa encourages higher levels of education to benefit everyone's future
Kāika
Home
- Whai Rawa recognises home ownership as one of the keys to enabling whānau to grow their wealth and wellbeing
Te Whakatāka
Retirement
- Whai Rawa aims to play an important role in the future of whānau by supporting retirement savings
Te kaupapa How to Join Whai Rawa
1
Any individual who is residing in New Zealand or Australia who can establish their whakapapa connection to Ngāi Tahu can apply to join Whai Rawa.
2
Review our Product Disclosure Statement to understand the benefits of the Scheme and the legal fine print.
3
Complete your online or hard copy application form and get it back to us. If you are under 16 you'll need an adult to sign you up and manage your account. You'll also need an IRD number or overseas tax equivalent.
4
Start contributing! Members and whānau can contribute funds for their own and/or other whānau members' accounts earning a return on funds invested along with any matched savings and annual distributions paid by Te Rūnanga o Ngāi Tahu (for eligible members under 65). Te Rūnanga o Ngāi Tahu also meet most costs of administration.
Ngā hua Key Benefits of the Scheme
- NGĀI TAHU CONTRIBUTIONS: Te Rūnanga o Ngāi Tahu currently provides a range of benefits to assist members, such as matched savings, distributions and payment of some administrative costs.
- POTENTIAL RETURNS ON YOUR FUNDS: Whai Rawa funds are currently invested in Mercer Investment Trusts New Zealand’s Socially Responsible Conservative, Balanced and Growth Portfolio’s (Mercer (NZ) Ltd is the Fund Manager of those Funds). Each day a rate of return is calculated and allocated to members’ accounts.
- SOME TAX PAID ON YOUR BEHALF: Whai Rawa has been structured to ensure members in NZ are not required to include information about Whai Rawa earnings in their tax returns provided they provide the required tax information.
- SOME FEES PAID: Under the terms of a Service Level Agreement, all Whai Rawa costs and expenses, other than Fund Manager fees, will be met by Te Rūnanga while Whai Rawa Fund Limited remains the Manager of Whai Rawa. See the Product Disclosure Statement for more information.
- KEY WITHDRAWAL CRITERIA: Savings can only be used for the key purposes of the scheme: Tertiary education; First home purchase; aged 55+ withdrawals; and in some other special circumstances. This provides you with an opportunity to save with a clear focus on important goals that can improve the wellbeing of your whānau.
FEES & CHARGES
Te Rūnanga has agreed to pay all the fees and expenses of Whai Rawa Fund Limited (WRFL) (acting in its capacity as Manager of the Whai Rawa Unit Trust) on an on-going basis while WRFL remains as the Manager of the Whai Rawa Unit Trust. In the future, Te Rūnanga may decide to reduce the amount it pays towards fees and costs, or decide not to pay them at all.
Any fees or costs not paid by Te Rūnanga or any other third party will be met by the Whai Rawa Unit Trust and charged to Members’ accounts.
Specific costs connected to fund management services for the Whai Rawa Unit Trust are charged to the scheme and thereby funded by Members. Outlined below is information regarding the various fees and costs associated with the Whai Rawa Unit Trust.
FEES & CHARGES
The Manager (Whai Rawa Fund Limited) is entitled to be reimbursed for all costs and expenses it incurs in its role as Manager of Whai Rawa. The Manager is also entitled to reimbursement for any GST it is required to pay on those expenses. You can find out the current amount of the level of costs and expenses incurred by the Manager at the time you join Whai Rawa by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Administration Manager’s (Mercer (N.Z) Limited) fee contains two components, i) a fixed fee for base services; and ii) a volume based fee relating to the number of Members in the Whai Rawa Unit Trust. You can find out the current amount of the Administration Manager’s fee at any time by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Supervisor (Trustees Executors Limited) is also entitled to be reimbursed for any GST it pays on its fee. The Supervisor’s fee may change from time to time on agreement with the Manager. You can find out the level of the Supervisor’s fee at any time by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Fund Manager, (Mercer (N.Z.) Limited) is responsible for managing the underlying fund in which Whai Rawa is invested (being three funds within Mercer Investment Trusts New Zealand). The Fund Manager is entitled to a fee payable from Whai Rawa’s assets equal to:
- 0.47% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Conservative Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.44% per annum.
- 0.67% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Balanced Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.62% per annum.
- 0.77% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Growth Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.72% per annum.
The Fund Manager’s fee may change from time to time on agreement with the Manager.
