Pacific Balanced Fund (PBF)

The 20,000 members have shared K54 million in distribution payments in the past 18 years.

The Investment Corporation Fund of PNG (ICPNG) was established by the National Government in 1971 as a platform for Papua New Guinean wage earners to earn an income from investments in various business activities.

In 2001, the PBF was created as a commercial unit trust on behalf of the members. The Fund has investments in a range of business activities including manufacturing, insurance, energy, agriculture and motor vehicle dealership.

On Friday January 11^th 2019, the Committal Court dismissed the charges after a credible case could not be produced against Brown when first charged in July 2018. 

In a statement NASFUND Board Chairman, Hulala Tokome, said in the process of defending an obviously spurious charge, Brown and his family have endured prolonged stress, not to mention, the considerable disruption to the ordinary business of NASFUND.

PBF is administered by Melanesian Trustee Services whose CEO, Kennedy Wemin, announced that electronic transfers now also include 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.”

Unit holders who have also opened MiBank accounts have received their first payments in their accounts last week, making this a cheap alternative for unit holders in rural areas to access their funds. 

This is to go for the hosting of the Life Care PNG 2^nd Annual Charity fundraising Dinner this year.

Life Care PNG and NGO set up by Colin Pake looks after less fortunate children either because they are orphaned or those who have been brought of the street.

 “Such is the sight today of these less fortunate children running the streets, simply because they are forced to fend for themselves lacking care and attention,” says Melanesian Trustee Services Limited General Manager- Corporate Affairs and Governance Lawrence Stephens.