Mr Parker, a former Dunedin lawyer and co-founder of the Community Law Centre, has held a small shareholding (5.47%) of Fund Managers Holdings Ltd, which owns a two thirds stake in Fund Managers Otago, for more than two decades.
A spokesman for the minister said Mr Parker also had "less than $5000" invested in two of the funds that were being managed by Fund Managers Otago.
"He is not involved with FMO and has taken no action in relation to the issues facing FMO," the spokesman said.
Last week FMO was sacked from its role managing three property investment funds worth more than $20 million because of failures relating to governance, compliance, solvency and regulatory breaches.
Two of the funds were already being wound up by the Dunedin fund managers.
The other fund (NZ Mortgage Income Trust No 2), with assets of $13.4 million and 600 investors, was shut off to investors last week and they were no longer allowed to take their money out.
They now have to wait for the new fund manager KPMG to wind up the funds before they will know how much of their investment they will get back.
KPMG also takes on completing the winding up of the other two funds.
An Invercargill man last week spoke about his frustrations with one of FMO’s legacy funds (NZ Mortgage Income Trust No 1) from which he had received less than half of the $80,000 his father had put into it.
That fund has $5.7 million in assets and 1553 investors.
Mr Parker’s investments are in the two NZMIT funds.
A recent annual report for NZMIT (No 1) found the fund held just over $16 million of investors’ money at March 31 this year, but had accumulated $10.4 million in losses, primarily from mortgage impairments and related expenses, but also from other fees and expenses.
In the report, FMO chairman John Gallaher said they had made progress selling the funds’ assets and were confident the last four assets were in a saleable condition.
"That clears the way for the final wind-up process to begin which will result in the final distribution of the cash assets to you, our investors," he wrote.
Capital Mortgage Income Trust is the other fund in wind up with $1 million in assets and 97 investors.
