In the Matter of Petition for Voluntary Revocation, Pacific Fund, Inc.

February 26, 2013 SEC-CFD * ORDER NO. 033-13 IN THE MATTER OF PETITION FOR VOLUNTARY REVOCATION PACIFIC FUND, INC. ORDER OF REVOCATION Submitted for consideration of the Commission is the company's Petition for Voluntary Revocation of its Registration and Permit to Offer Securities for Sale . The company also requested that it be exempted from filing the reports required by the Securities Regulation Code (SRC) and the Investment Company Act (ICA). The company cited the following matters as bases for the Petition and its request for exemption from filing the required reports: 1. The Pacific Fund, Inc. ("PFI") was incorporated as an open-end investment company (mutual fund) on 09 July 1969. It was incorporated for the following primary purpose: "to invest and reinvest its resources in domestic and foreign stocks and securities, and to carry on the general business of an investment company."; 2. PFI has not been marketing its shares since 1980 and its business operations were limited to servicing existing investors in the redemption of their shares; and 3. PFI attempted to call a meeting of the stockholders to approve the proposed filing of a petition for revocation of its secondary license. However, a majority of the correspondence was returned with the stamp RTS (Return to Sender) because the addressees were no longer at their respective last known addresses and there has been no updating of addresses since then. SaTAED Finding the instant Petition to have fully complied with SRC Rule 13, the Commission, in its meeting held on 21 February 2013, resolved to GRANT the company's request for voluntary revocation of its Registration and Permit to Offer Securities for Sale. The company was further granted relief from filing the reports required by the Securities Regulation Code and the Investment Company Act, subject to the following conditions: 1) Publish once a month for six (6) consecutive months in a newspaper of general circulation or upload in its website an information regarding the revocation of the PACIFIC FUND, INC.'s Registration and Permit to Offer Securities for Sale to the Public and the manner how the redemption of shares can be made by its shareholders; 2) Submit a copy of the management contract between Pacific Fund, Inc. and GPL Holdings; 3) File a report showing the names of shareholders and the number of shares redeemed by them within ten (10) days from the end of every year while there are still outstanding shareholders of the company; 4) Comply with the reporting requirements of the Commission under the Corporation Code; and 5) Amend its Articles of Incorporation, particularly its Purpose Clause, to remove therein its powers and functions as an open-end investment company. The company is further required to file a Compliance Report to the Commission within fifteen (15) days from receipt of this Order with respect to Condition Nos. 1, 2 and 5. SO ORDERED. AaHDSI Mandaluyong City, Philippines, February 26, 2013. (SGD.) JUSTINA F. CALLANGAN Acting Director