Fund in verification process

 THE Pacific Balanced Fund (PBF) is currently conducting a verification process to update shareholders’ records, a senior official says.

Joan Mondo said the fund would be visiting provinces to create awareness on changes, including its name and to confirm shareholders with their share registry system.

She said PBF had allocated a sum of K18.4 million to be paid as dividend to shareholders backdating from 2003 to 2010.

Formerly called the Investment Corporation Fund of PNG, the fund is among 22 institutions which participated in the recent financial inclusion expoheld in Kokopo, East New Britain.

“We are shareholders to bigger companies. When they make profits, they pay dividends to our dividend unit shareholders,” she said.

She said dividend payment per year depended on the number of shares.