Queries on fund’s services increases

THERE has been a recent increase in the verifying of investment ownership in the Pacific Balance Fund, trading executive Isaac McNerbai says.
He said since the recent nationwide roadshow which visited Lihir, Wewak, Madang, Lae and Alotau, the fund received between 20 to 30 queries per fortnight from unit holders or their next of kin.
“This is good news for us as it means that the message on the Fund’s performances are encouraging unit holders to make contact with us,” he said.
“But he said despite the increase in enquiries, there was still a large number of units and unit holders which had to be verified and challenges.
“It requires unit holders or their next of kin to come and identify themselves.
McNerbai said units which remained outstanding belong to holders who had purchased small units of 20 to 100.
The fund has found out that many of the small holders may have been public servants who participated in the pay deduction share scheme when the Investment Corporation of Papua New Guinea sold shares to the public service system.
“The public servants may have passed on or moved from the major centres to villages.
The fund has identified that the bulk of unit holders to be verified were purchased in NCD and Morobe.”
McNerbai said apart from the road show and challenges with the verification exercise, the fund had activated a few initiatives focused on the unit holder and improving levels of customer service.
He said moving from the old office to a more central and visible location with a dedicated customer service centre had made it easier for people to find our office and make enquiries.
“A lot of work has been done to improve payments of dividends.”