Indigenous history, culture and values as investment philosophy: lessons from the New Zealand Māori

This paper argues that Māori history, culture and values inform the investment philosophy and approach of Māori Asset Holding Institutions (MAHI). MAHI have evolved over the last 30 years as the investment and commercial arms of iwi (tribal) organizations, in New Zealand. They seek to grow and sustain the financial and natural resources they have and continue to receive through the Treaty settlement process with the Government for redress of historical grievances against Māori, the indigenous people. This paper discusses the application of Māori culture and values to iwi investments firms. By providing a critical review of the literature on the socio-cultural and historical context of Māori investment thinking, this paper hopes to highlight the differences between an Indigenous investment framework and traditional Western frameworks. It also seeks to draw attention to the need for further research on the performance and operations of Māori investments.