Luxury investment LVMH Moët Hennessy Louis Vuitton head Bernard Arnault has recently overtaken Elon Musk as the richest person in the world. Starting his career as a real estate developer in Palm Beach, Florida, how did the French multi-billionaire invest his way to the top of the [...]
ComCom Input Methodologies decision TDB provided expert support to the Board of Airline Representatives of New Zealand (BARNZ) during the 2023 Commerce Commission review of Input Methodologies (IMs) for regulated services. Our focus was on the cost of capital methodologies for airports, especially the asset beta used [...]
Challenging climate for iwi investments In our latest Iwi Investment Report, we review the 2023 financial year for ten of New Zealand’s iwi: Ngāi Tahu, Ngāpuhi, Ngāti Awa, Ngāti Pāhauwera, Ngati Porou, Ngāti Whātua Ōrākei, Raukawa, Tūhoe, Waikato-Tainui, and Ngāti Toa, the combined assets of which we [...]
Iwi Investment 2022 In our eighth annual Iwi Investment Report, we review the 2022 financial year for ten of New Zealand’s iwi: Ngāi Tahu, Ngāpuhi, Ngāti Awa, Ngāti Pāhauwera, Ngāti Porou, Ngāti Whātua Ōrākei, Raukawa, Tūhoe and Waikato-Tainui, and for the first time Ngāti Toa. The combined [...]
How are the Government’s Commercial Businesses Faring? Currently, the government owns or part-owns eighteen large commercial businesses with combined assets totalling $78 billion. These businesses include three electricity generator/retailers, an airline, a post/courier company, a bank and minority stakes in three airports amongst other enterprises. Together these [...]
TDB Advisory Scholarship TDB Advisory is pleased to introduce the TDB Advisory Scholarship. The TDB Advisory Scholarship is s for top performing students of Māori or Pasifika descent entering into an Honour’s or Master’s programme in Economics or Finance at Te Herenga Waka—Victoria University of Wellington. The [...]
Iwi investment 2021 Our seventh annual Iwi Investment Report reviewed a strong year for iwi. The iwi covered in this report are: Ngāi Tahu, Ngāpuhi, Ngāti Awa, Ngāti Pāhauwera, Ngati Porou, Ngāti Whātua Ōrākei, Raukawa, Tūhoe and Waikato-Tainui. These nine iwi now have combined assets of approximately [...]
Iwi Investment Our latest Iwi Investment Report reviews a challenging year, with iwi assets impacted by COVID-19. Hibernating tourism businesses, empty hotels, exports sitting in the harbour and volatile financial markets each left their mark. Of the nine iwi in our report (including Ngāti Pāhauwera for the [...]
a2: White gold The market value of Fonterra’s equity is $10.6 billion. Fonterra’s NPAT in FY17 was $745 million. That gives the company a P/E multiple of 14. The market value of The a2 Milk Company’s equity is now $6.1 billion – almost 60% of Fonterra’s. a2 [...]