Weathermen Capital Advisor’s Ltd (WCAL) as Interim Trustee of the Pacific Balanced Fund (PBF), issues this public notice to the Unit Holders of the Pacific Balanced Fund (PBF) and the General Public.

On 25 September 2023, WCAL was appointed as the interim Trustee of PBF by the Securities Commission of Papua New Guinea. Pursuant to Section 204 of the Capital Markets Act 2015, an interim trustee is required to convene a meeting of Unit Holders within three months of its appointment for the purpose of appointing a new Trustee.

The National Court of Justice in Waigani issued an order on 8 December 2023, granting the following directives:

1. An extension of six months starting from 24 December 2023 for WCAL to convene a meeting of PBF Unit Holders to appoint a new Trustee. 


2. WCAL is mandated to verify the registry of Unit Holders within the six-month extension period before calling the meeting.

As of 8 December 2023, the Court has sanctioned the holding of a Unit Holder meeting to appoint a new Trustee. This marks a significant moment as PBF Unit Holders will exercise their right for the first time to appoint a Trustee for their investments.

WCAL is actively engaged in obtaining the registry of Unit Holders from the former Trustee. The purpose is to conduct a thorough verification and update the registry, ensuring accuracy and transparency. We aim to begin this process towards the end of January 2024. Our Unitholder Services Division will be visiting major centres around the country in the coming weeks to implement this program.  Further announcements will be made soon to allow all Unit Holders ample time to participate. Noting that there are almost 20, 000 Unit Holders in the Fund, it is critical that this exercise is conducted thoroughly and diligently. 

We want to assure the Unit Holders of PBF, Stakeholders, and the General Public that once the verification process is completed, WCAL will promptly call a Unit Holder meeting to appoint a new Trustee. 

This initiative reflects our commitment to facilitating an inclusive and participatory approach in managing PBF.

For all enquiries please contact us on: P. 320 0121, email us at enquiries@weathermencapital.com or visit us at Level 2, MRDC Haus, Port Moresby. ​

Approved for Release

Mr. Jordan Paul Executive Chairman

Mr. John Kevau Managing Director