PBF members receive payout

Unit Holders of the Pacific Balanced Fund (PBF) have received another payout from their investments.

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.

Senior Trading Executive of the Fund’s trustee, Isaac Mcnerbai who has been working with the Fund’s management for over 25 years, delivered a payment to the Young Women’s Christian Association (YWCA) recently.

“The YWCA are long term members of the Fund and we always enjoy the opportunities to provide them with a return on their investments,” said Mcnerbai.

Mcnerbai added that even though they have faced many problems over the years, they have made considerable adjustments to accommodate the continuous changes around the world.

He added that he is happy that long-term partners are being able to receive favourable outcomes from their investments.

Press Release