External market volatility affecting investment portfolio (US trade policy and tariff tensions)

Pest animal impacts across the catchment exceeding original scope

Governance challenges with whenua Māori blocks without active administration

Landowner engagement complexity in steep, erosion-prone terrain

Disruption to traditional stock water sources from fencing initiatives

Limited infrastructure for alternative livestock watering systems

Lack of momentum in community engagement initiatives

Knowledge gaps among teachers and students regarding Whanganui history

Scope limitations of Jobs for Nature contract funding for alternative water supply installation

Fishing sector experiencing challenging operating conditions

Land ownership fragmentation and decision-making delays on whenua Māori

Reliance on government-dependent funding solutions

Trust Deed Review requiring amendments due to Māori Fisheries Amendment Act 2024

Limited quality local investment opportunities in Whanganui region

Global economic uncertainty affecting private equity portfolio performance

Higher interest rate environment impacting valuation of private businesses

Aotearoa Fisheries Limited experiencing difficult trading conditions and reduced dividend income

Disconnection of uri from language, lands and homes

Food insecurity and inequities in health and education affecting iwi members

Homelessness and social unrest within uri population

Sustainability of reo revitalisation initiatives outside of Trust support

Complexity of managing multiple governance entities across the iwi

Climate change and supply chain disruptions

Geopolitical tensions and social unrest affecting investment environment

Portfolio underperformance amid high inflation and tightening central bank policies

Managed fund portfolio decline

Whanganui Iwi Fisheries Limited dividend reduction due to difficult trading conditions and supply chain disruptions

Government reform fatigue impacting settlement implementation

Whenua Māori management challenges - lack of administration affecting restoration work

Farming costs and stock water management complications

Labour shortages and escalating costs in fisheries sector