The Pacific Balance Fund (PBF) has recorded a steady growth over the years since its establishment in 2002 with a Net Asset Value (NAV) worth in excess of K616m.
Statistic from its recent report, ‘Our story of growth and creating a safer financial future for ordinary Papua New Guineans’, initially, the Fund’s NAV was K75m and today it is worth in excess of K616m.
In this period, the Trustee, Melanesian Trustee Services Limited (MTSL) has also introduced efficiencies to manage the operating expenses while also improving the Fund’s income generation and investment performance.
In 2002 it generated an annual income of just K6m and by 2015 the Fund generated an annual income of over K86m, an increase of more K80m.
In 2002 the Fund made a loss before tax of K21m but in 2015 it made a profit before tax of K69m.
MTSL chief executive officer Kennedy Wemin said if they continue the current growth rate, the net asset of PBF will be sitting at 1.2 billion by 2020.
Wemin said this means they don’t need to do any more investments except keep the current portfolio performing at the current rate.
He said however, they’re embarking on new investment opportunities for the benefit of the collective group of unit holders which represents about 20,000 Papua New Guineans.
The Fund’s investments are made up of cash, domestic equities and properties.