Governance

Governance Documents

Read the March 2017 Product Disclosure Statement.

The Product Disclosure Statement (PDS) from November/December 2016 was our last fund-raising document.

The Punakaiki Fund Limited Public Offer Disclose Register holds documents that were disclosed as part of the PDS. Most of the documents are linked below.

The Constitution is the overarching document which sets out the rights, powers, duties and obligations conferred on Punakaiki Fund, its Board of Directors and its shareholders.

The fundamental relationship between Punakaiki Fund and LWCM, as Manager, is determined by the Management Agreement.

Punakaiki Fund Limited is committed to the highest standards of corporate governance, and uses the Punakaiki Fund Board Charter to guide the the Board’s behaviour. The Delegated Authority Policy has more on the powers granted to the Board and the Manager.

Punakaiki Fund’s approach to investments is summarised in the Statement of Investment Policies and Objectives. The Investment Guidance document has more perspective on how we go about investing. The Investment Valuation Policy shows the approach used to value our assets.

Recent Annual reports are the 2016 Annual Report and the 2015 Annual Report, and we have released our FY2016 financial accounts (Full IFRS). We also release interim financial statements for FY2017.

Punakaiki Fund was formed in April 2013 but was not active (aside from one $5 bank fee) before the end of the financial year end March 31 2014.

 


Board of Directors

Photo of Mike Bennetts

Mike Bennetts
Chair

Mike is the CEO of Z Energy, one of New Zealand’s largest retail and wholesale fuel businesses. He became the CEO of Z Energy after 25 years with BP in a variety of downstream roles in New Zealand, China, South Africa, the UK and Singapore. Mike is also a director of New Zealand Refining Company Limited. Mike has a BBS and Postgraduate Diploma in Corporate Management; and is a member of the Institute of Directors in New Zealand.

A trust associated with Mike is Punakaiki Fund’s third largest shareholder, holding 45,000 ordinary shares or 3.90% of Punakaiki Fund’s issued ordinary shares. Mike is considered an independent director.

Photo of John Berry

John Berry
Director

John is the co-founder and Executive Director of Pathfinder Asset Management. Pathfinder Asset Management was founded in 2009 and has over $100 million in funds under management. John has over 24 years market experience, having previously held roles at law firms and investment banks, including as Head of Execution at Deutsche Bank Structured Capital Markets Europe. John has a BCom/LLB (Hons) and is on the board of the Men’s Health Trust NZ.

John & Angela Berry jointly hold 8,450 ordinary shares or 0.73% of Punakaiki Fund’s issued ordinary shares and are Punakaiki Fund’s 25th largest shareholder. John is considered an independent director.

mandy-simpson-photo

Mandy Simpson
Director

Mandy is the COO of NZX Limited, where she leads the teams running the capital and energy markets. Mandy is also a board member for the Technology Industry Association (NZTech), Energy Clearing House, New Zealand Depository Nominee and is an advisory board member for BraveNewCoin. Previously she was Chief Financial Officer of Fronde, Chief Financial Officer at State Services Commission and held a number of other financial, audit and accounting roles.

Mandy has resigned from NZX and accepted a role as the CEO of security company Cyber Toa, which she commences in November 2016.

Mandy holds 6,000 ordinary shares or 0.52% of Punakaiki Fund’s issued ordinary shares and is Punakaiki Fund’s 37th largest shareholder. Mandy is considered an independent director.

Bryan Hutchins
Director

Bryan Hutchins is a director of Real Journeys and the Fiordland Lobster Company. Bryan became a director of Real Journeys following 25 years as CEO of the company. He is also a trustee of The Leslie Hutchins Conservation Foundation.

Bryan is Punakaiki Fund’s second largest shareholder, indirectly holding 61,400 ordinary shares or 5.32% of Punakaiki Fund’s issued ordinary shares. Bryan is considered to be a non-executive director as he indirectly holds more than 5% of the Shares in Punakaiki Fund.

 

Photo of Lance Wiggs

Lance Wiggs
Director of Punakaiki Fund, Director of LWCM

Lance is the founding director of Punakaiki Fund, and a director of Boardingware, Melon Health, RedSeed, Vibe Communications, EverEdgeIP, Influx, Weirdly, Onceit, Mindfull, Linewize and NZ Artesian Water – all Punakaiki Fund investments.

Lance worked with over 100 companies with NZTE’s Investment group (formerly called Better by Capital). He is currently Chair of the ICT Return on Science Committee and a member of the Physical Sciences Return on Science Committee.

He previously co-founded or personally invested in over 15 companies, and brings experience from McKinsey & Co., Trade Me and many early-stage companies. He has a Yale MBA and a B Tech in Product Development.

Lance is Punakaiki Fund’s largest shareholder, holding 61,970 ordinary shares or 5.37% of Punakaiki Fund’s issued ordinary shares. Lance is not considered to be independent as he both holds more than 5% of the Shares in Punakaiki Fund and is one of the principals of the Manager.

 


Companies Office Records of Our Investments

Punakaiki Fund’s holdings are easily seen on the Companies Office website. We recommend using coys.co.nz to navigate, starting with this list of our shareholdings.  There is usually a short period between any changes in shareholder registers, officially held at each company’s premises, and uploading of that information to the Companies Office website.

Punakaiki Fund Limited

Vibe Communications Limited*
Raygun Limited
InfluxHQ Limited*
Timely Limited
Melon Health Limited*
Weirdly Limited*
Boardingware Limited*
RedSeed Limited*
Onceit Limited*
Revert Limited
EverEdgeIP Global Limited*
Vend Limited
Mobi2Go Limited
Mindfull Limited*
Linewize Services LimitedLikewise Limited*
Agtract Limited**
Populate Limited
New Zealand Artesian Water Limited*
QA Tech Limited (Conqa)
*Lance Wiggs Directorship
** Chris Humphreys Directorship