Coasties will be hearing more about the Auckland Future Fund, a new council-controlled organisation launched by Auckland Council to strengthen the region’s physical and financial resilience.

On Friday, the fund was officially established through the signing of its trust deed by the appointed Board of Directors, marking an important step forward for this long-term initiative.

“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.

Swasbrook will lead the board alongside directors Craig Stobo and David Callanan.

The fund was initially outlined in the council’s Long-term Plan 2024-2034, with the aim of creating a more secure financial future for Auckland by diversifying the council’s investments.

By 2025/26, it is expected to generate an additional $40 million per year to help fund council services and reduce reliance on rates.

To start, the fund will be capitalised with the council’s remaining Auckland International Airport Limited shares.

Liaison councillor Christine Fletcher expressed her optimism about the fund’s potential.

“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,” said 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 Auckland Future Fund will operate independently under the high-level direction of the council.

The fund’s Board of Directors will be responsible for its key decisions, guided by clear investment policies set by the council.

This structure ensures that the assets of the fund are protected and maintained for future generations.

In the long term, the board will look to diversify investments beyond Auckland International Airport shares, with the goal of spreading financial risk while ensuring positive returns.

The council has projected average annual returns of 7.24%, with a portion going directly back to fund council operations.