MTSL plans to increase funds

The National, Wednesday July 6th, 2016

THE Melanesian Trustee Services  Limited plans to increase its fund size from K616 million to more than K1 billion by 2020, according to its five-year strategic outlook.
The announcement was part of a report on the growth of the Pacific Balanced Fund by the Melanesian Trustee Services  Limited (MTSL) chief executive officer Kennedy Wemin.
“If we were to look at future forecasts as far as the fund is concerned, as well as performance, our average annual growth rate is at 14.3 per cent from 2016 to 2020,” Wemin said.
“It basically means that if we continue the current growth rate, the net asset of Pacific Balance Fund will be sitting at 1.2 billion by the year 2020.
“MTSL is confident of its projections due to its current investment portfolio with exceptional past performance and planned investments in the future.
“The Pacific Balanced Fund has managed to increase its starting net value asset of K75 million in 2002 to K616 million in 2015.
“This represents a growth of over eight times the original value of its fund in a period of 13 years.”
He said the PBF performance was exceptional in comparison to similar trust funds internationally.
“We do all of this things not for our benefit but for the benefit of the collective group of unit holders which represents about 20,000 Papua New Guineans,” Wemin said.
“There is no body from overseas that holds any investments in Pacific Balanced Funds.
“It is run by a team of Papua New Guineans and we are proud of our achievement and what we have been able to do over the years.”