UNITHOLDERS in the Jardine Pacific Securities Trust, the locally-based fund at the centre of the Jardine Fleming malpractices scandal, have been told they will not get a payment if their compensation comes to less than US$50. The letter begins: 'You may recently have read about action taken by the Hong Kong Securities and Futures Commission (SFC) with regard to Jardine Fleming Investment Management's compliance and internal procedural systems.' The letter says the fund group is writing to inform unitholders that the company has agreed the fund has been disadvantaged, and a voluntary payment has been agreed to affected unitholders. 'Only where the amount in question is over US$50 will a cheque payment be made. This is in line with Jardine Fleming's policy regarding distribution payments and is also considered economically viable given the cost of bank clearance charges,' says Jardine Fleming. The letter finishes with: 'JF Pacific Securities Trust is the only Jardine Fleming unit trust affected and the issues which gave rise to the SFC's action were procedural and regulatory in nature. 'At no time was the security of your investment in this fund affected. 'We are confident that the procedures now in place meet all SFC requirements and are in line with the best Hong Kong practice.'