Established in 1967 as Mauritius’ pioneering Investment Trust, MDIT holds a prominent position as an Approved Investment Institution under the Stock Exchange Act 1988. Additionally, it operates as a Closed-end Fund authorized by the Financial Services Commission under the Securities Act 2005. MDIT was among the first companies listed on the Official List of the Stock Exchange of Mauritius (SEM) on June 29, 1989, alongside notable entities such as The Mauritius Commercial Bank Ltd (MCB), Omnicane Ltd (formerly Mon Tresor and Mon Desert Ltd), and The United Basalt Products Ltd (UBP).
Corporate Governance and Management
MDIT is governed by a board comprising non-executive and independent directors renowned for their expertise across various fields. These directors actively contribute to board and committee deliberations, ensuring robust oversight and strategic guidance. The fund is managed by Golden Fund Management Services Ltd, a wholly-owned subsidiary of Golden Foundation Ltd, formerly known as Omnicane Fund Management Services Ltd.
Contribution to Financial Sector and Capital Markets
Over its 48-year history, MDIT has been instrumental in shaping Mauritius’ financial sector and capital markets landscape. Through its active participation in the SEM, MDIT has significantly influenced industry development, contributing to the country’s economic growth trajectory.
Revenue Streams and Distribution Policy
MDIT derives its primary income from dividends and profits from the sale of investments. Its investment strategy focuses on companies that typically retain around 45% of their earnings. MDIT’s policy is to distribute approximately 95% of its profit after tax on a cost basis. This approach, combined with the consistent performance of its well-diversified portfolio, has historically enabled MDIT to offer relatively higher dividend yields to its investors.
Conclusion
In conclusion, The Mauritius Development Investment Trust Company Limited (MDIT) stands as a cornerstone of Mauritius’ investment landscape, playing a pivotal role in the growth and development of the financial sector and capital markets. With a commitment to governance excellence, strategic management, and a robust distribution policy, MDIT continues to provide value and stability to its stakeholders while contributing to the broader economic prosperity of Mauritius.
