Steady as she grows. Delivering 10.53% p.a since inception.
A simple way to invest in New Zealand forestry and carbon. Targeting 5,000 hectares of premium forest assets in high-growth regions, it’s a secure, regulated investment built for long-term growth.
About the Awatea Fund
Awatea is a managed investment scheme (MIS) that gives all investors proportional ownership of freehold forestry land in New Zealand.
With a $20,000 minimum, it’s the easiest way to access institutional grade forestry assets without the complexity of buying or managing land yourself.
7 forests under management
Average annual return
Minimum investment NZD
Current unit price
Annual returns and growth potential
Regular income
Annual returns from the sale of stored Carbon Units.
Capital growth
Long-term upside through timber sales at harvest.
Asset secured
Proportional ownership of freehold land provides a solid foundation.
Tax efficiency
Optimise returns and minimise tax with a multi-rate PIE Fund.
Shared Focus
Experienced directors invested alongside you for long-term success.
The modern way to invest in forestry
Start your investment with simple sign-up
Grow with carbon and timber returns
Benefit from growth that lasts
Effortless portfolio management
Roger Dickie NZ uses intuitive platform to make investing simple. Sign up quickly, track your portfolio in real time, and access all reports and documents in one easy-to-use dashboard.
Trusted by 3,000+ investors
50+ years experience
Licensed forestry experts with over five decades of experience growing investor wealth.
Scale & Performance
Managing $1.6 billion in assets and harvesting 1.2 million tonnes of timber annually. The scale to deliver!
Full-Service Investment
Licensed MIS manager handling everything from acquisition to harvest - your investment is in expert hands.
Sustainable & Responsible
Committed to sustainable forestry practices that enhance the environment while delivering long-term returns.
Download our Investor Pack
Inside, you’ll find a detailed overview of our forestry investments, projected returns, risk considerations, and the benefits of managed forestry ownership.
Need more information?
Here are some common questions about our investment options and services.
We understand that investors' circumstances can change. While investing in forestry is typically a long-term commitment, Roger Dickie has maintained a secondary market for investors for over 30 years across various funds. The Awatea Fund has been designed with liquidity in mind. With diversified forests at various tree ages and a substantial number of investors in the fund, this pooled model offers enhanced liquidity options. Specifically, Awatea provides investor liquidity in the following ways:
- Matching service - RDNZ match buyers and sellers at an agreed price based on demand.
- The fund has a redemption facility, operated quarterly to redeem investor units.
As with all direct investments, liquidity is heavily influenced by the performance of the underlying fund. For more information on the liquidity options for the Awatea Forest Fund, we recommend reviewing the Product Disclosure Statement.
The Awatea Fund generates revenue from two sources: New Zealand Units (NZUs) and proceeds from timber harvesting. Initially, the Fund's forests will sequester carbon and periodically sell NZUs to provide annual returns for investors. Once the forests reach maturity (typically around 28 years old), harvesting will occur, and the logs will be sold, with profits returned to shareholders.
Awatea targets annual cash and capital returns of 7 to 10%, along with significant potential upside from a growing carbon market. Additionally, your investment includes a proportional ownership share in the freehold land where Awatea's forests are planted, representing a three-way investment in Land, Carbon, and Timber.
In New Zealand, carbon credits are known as New Zealand Units (NZUs). Each NZU represents one tonne of carbon dioxide that has been removed from the atmosphere. Forest owners earn NZUs as their trees absorb carbon, while businesses that produce emissions are required to purchase and surrender NZUs under the New Zealand Emissions Trading Scheme.
This system helps assign a value to emissions reduction and rewards sustainable land-use practices. As the Awatea Funds forests grow, they absorb carbon dioxide and earn NZUs under the Emissions Trading Scheme. These NZUs are sold periodically, generating revenue and annual income for Fund investors. The most recent sale occurred in July 2025, with a 5% net-of-tax distribution paid to investors, noting that many investors elected to reinvest their distributions using the dividend reinvestment plan to take advantage of compounding capital growth.
Absolutely! We actively invest alongside our investors, sharing both the risks and rewards, which demonstrates our commitment - what we call having 'skin in the game.'
As cornerstone investors in the Awatea Fund, our directors and team are committed to delivering financial outcomes that align with the interests of our valued investors.
Since our inception in 1971, Roger Dickie has proudly remained a family-owned business with a strong track record of stability, continuity, and performance.
Yes, anyone can invest.
At RDNZ, acting in the best interests of our investors is at the heart of our operations. Covenant Trustees Services, an independent entity, supervises the Awatea Forest Fund.
Their role is to monitor Roger Dickie (N.Z.) Limited, the Fund Manager, ensuring compliance with laws and the Fund's governing documents. They review and approve key decisions, such as property acquisitions, and oversee financial transactions, while prioritising the interests of investors.
Still have questions?
Speak to an Investor Relations Manager
Book a call with our team today to discuss your options and take the first step toward a managed forestry investment.
Matt Harvie
