Pacific Balanced Fund holders receiving e-payments


UNIT holders of the Pacific Balanced Fund are now receiving outstanding distribution payments in their bank accounts electronically, according to chief executive officer Kennedy Wemin.
The fund is administered by Melanesian Trustee Services.
Wemin said the electronic transfers included payments to unit holders with MiBank accounts.
“We are very pleased with the results of our electronic dividend payments,” Wemin said.
“It has been a long journey building up the Fund and making sure its unit holders receive dividends. Now electronic make the process even faster.
“Unit holders who have also opened MiBank accounts received their first payments in their accounts last week, making this a cheap alternative for unit holders in rural areas to access their funds.”
Wemin said it marked another important transformation of the fund.
“Investors in the former Investment Corporation Fund of Papua New Guinea who have verified their shareholding are now receiving dividend payments for the years 2003 to 2015.
“We have also provided for those who are yet to come forward to claim ownership of investments in PBF and commence payments to their accounts as soon as their ownership is verified.”

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