Closer communities: Rātā tests trust boundaries with fund buy

(Image: Getty)

Tue, 01 Apr 2025

Community trusts are a law unto themselves.Or a law unto the Community Trusts Act 1999 that set the current ground rules for the 12 semi-autonomous charitable investment entities spread across New Zealand.The community trust dozen was originally seeded in 1988 from the sale of government shares in a string of regional banks with a brief to fund local good works (and not blow the capital).But despite creating what is now a circa $5 billion sector out of public money, the legislation affords the underlying trusts a remarkable degree of investment...

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