Another group of newly verified Pacific Balanced Fund unit holders received dividends, in time for Christmas 2019.
Mark Sakai, Executive Chairman of the PBF trustee, Melanesian Trustee Services, reported this in expressing his pleasure to see newly verified unit holders, from the former Investment Corporation Fund of PNG, receive their Pacific Balanced Fund entitlements.
Mr. Sakai said, “There are nearly 20,000-unit holders in the Pacific Balanced Fund. Most of the dividends for the years 2003 to 2016 have been paid and more are expected to be paid shortly for 2017 and 2018”.
“But the Fund is still encouraging Investment Corporation Fund investors to update their records. We continue to call on the people who lost contact with the Investment Corporation and have not yet turned up to seek and claim their entitlements from PBF, to make contact”.
A part of the MTSL strategic plan is to find, verify and pay outstanding dividends to “missing” investors. The formal verification process is continuing.
“During 2019 we have been able to locate and more owners of PBF funds. The recent group received over K250,000 before Christmas, thanks to the verifications. This now means that ownership of more than 85% of the Fund has been established”.Mark Sakai
“It was good receiving positive feedback from long time unit holders who finally came forward to claim their benefits and received them in at year’s end” said Mr. Sakai. “The Fund is still encouraging unit holders to come forward and claim their shares as it continues to maintain and update its registry of owners”.
The Executive Chairman said: “Melanesian Trustee Services maintains its focus on protecting and increasing the assets of the PBF investors and looks forward to reporting more progress in the months ahead. It will be good to see more people verified to enjoy the benefits of this progress”.