Company Profile

The Mauritius Development Investment Trust Company Ltd (MDIT), incorporated in 1967, is the first approved Investment Trust in Mauritius and a Collective Investment Scheme (CIS), authorised as a Closed-end Fund by the Financial Services Commission under the Securities Act 2005. MDIT is also one of the first five companies to be listed on the Official List of the Stock Exchange of Mauritius Ltd (SEM) on 29 June 1989, at the same time as MCB Group Holdings Ltd, formerly The Mauritius Commercial Bank Ltd, and Omnicane Ltd, formerly Mon Trésor and Mon Désert Ltd, which was MDIT’s main shareholder until 31 March 2010, and United Basalt Products Ltd (UBP). 

MDIT’s objective is to secure for investors the benefits of a good dividend yield as well as long-term capital growth. Its portfolio of investments was, at 30 June 2018, well spread in 104 local companies covering all sectors of the Mauritian economy, with Official Market (OM), Development and Enterprise Market (DEM) and Unquoted shares accounting for 83% of the total portfolio value, and the balance 17% invested in diversified overseas securities.

MDIT has been playing a major role over the last 51 years in the development of the financial sector as well as capital markets in Mauritius. Through its active involvement on the SEM, placing daily buy and sell orders through stock-broking companies, MDIT exerts a significant influence in the advancement of an industry which is one of the main contributors to the country’s economic growth.

At 30 June 2018, MDIT’s main local portfolio value was in the sectors of Investment holdings, funds and trust companies (48%), the share price of which is at a substantial discount to the Net Asset Value (NAV), Finance (16%), Hotels (8%), Industry (5%), and Commerce (3%). 

MDIT’s main income streams are derived from dividends and profits on sales of investments. As the investments of MDIT are in shares of companies that retain, on average, some 45% of their earnings, its policy is to distribute up to 90% of its profit after tax on a cost basis.  This policy, together with the good past performance of its well diversified portfolio, have enabled dividend distributions, yielding a high average of 5.58% p.a. for investors during the past five years, as well as bonus share capital distributions from time to time through capitalisation of revaluation reserves.

MDIT shares have always been amongst the top 10 Official List securities and, in terms of the SEM Total Return Index (SEMTRI), it ranked 9th at 31 October 2018, with a very high annualised return of 16.97% since its listing.