The Auckland Future Fund has formally launched as Auckland Council’s new council-controlled organisation and regional fund.
The fund, which is in place to enhance the region’s physical and financial resilience, was formalised by its new Board of Directors on Friday through the signing of the trust deed and other founding documents.
“This is an exciting milestone for the Auckland Future Fund – we now have the fund entity in place and we can continue building the foundations that will contribute to it enhancing Auckland’s physical and financial resilience,” said board chair, Christopher Swasbrook.
“This is a long-term initiative and it is early days, but as a board we are looking forward to shaping and influencing the fund which will not only help protect the Auckland region, but also provide long-term capital growth and cash distributions to help fund council services.”
Liaison councillor, Christine Fletcher said the fund represents a new direction for Auckland Council that will stand the region in good stead, as an enduring asset for Auckland.
“The Auckland Future Fund has been a work in progress but it is pleasing to now see it in place and able to work for all Aucklanders,” says Cr Fletcher.
“I am personally very excited about what the fund represents and its potential to provide not only certainty but also returns for our region.”
The future fund was confirmed in June through the council’s Long-term Plan 2024-2034. It is estimated to provide the council with around an additional $40 million of cash returns per year from 2025/26.
The fund will initially be capitalised with the council’s remaining Auckland International Airport Limited shares.
The Auckland Future Fund will operate under the high-level direction of the council, but through an independent structure.
The Board of Directors – chair Chris Swasbrook, Craig Stobo and David Callanan – were recently appointed to lead the fund.
