Aboriginal Investment NT has appointed asset consultancy company JANA to manage its two royalty-fed investment funds worth a combined $655 million, with the organisation having previously announced the majority of the initial $180 million it received was to be rolled into one of those investment funds, rather than distributed to small Indigenous business owners.

In September, AINT – which also rebranded itself to Northern Territory Aboriginal Investment Corporation – said it had launched a five-year investment and grants plan which would see $500 million put into a future fund and $155 million put into what was called a ‘Community Ready Fund’ (CRF), the latter being primarily made up of grants money that the organisation was set up to distribute but mostly failed to do across three years.

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