PBF unit holders get outstanding payments

Pacific Balanced Fund (PBF) unit holders are now receiving outstanding distribution payments in their bank accounts electronically.

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 innovation marks another important part of the transformation of PBF,” Wemin states.

“Investors in the former Investment Corporation Fund of Papua New Guinea (ICFPNG) who have verified their shareholding are now receiving dividend payments for the years 2003 – 2015.

“We have also provided for those who are yet to come forward to claim ownership of investments in PBF and commence payments to their accounts as soon as their ownership is verified.”

Author: 
Press release