Mobius Investment Trust (MMIT) listed on 1 October 2018 and is currently in the process of deploying its IPO proceeds. MMIT has now provided an update on its progress in which it says that, while it does not intend to disclose specific portfolio holdings during its ramp up period, it is actively engaging with both portfolio and target companies. It cautions that discipline is required in current volatile markets.
MMIT has also advised that as of the close of business on 07 December 2018, 40.1% of its capital was invested across 10 companies. The five largest geographic exposures were Poland (7.5%), China (6.9%), Brazil (4.7%), South Korea (4.6%), and Turkey (4.3%).
Discipline is required in current volatile markets
MMIT says that, in view of current market volatility, the Manager believes it is in the interests of shareholders to exercise caution and discipline in allocating capital. As a result, it now expects MMIT to be fully invested by early 2019. MMIT intends to release its first monthly factsheet and supporting manager commentary during January 2019.
About Mobius Investment Trust
Mobius Investment Trust’s investment objective is to achieve long-term capital growth and income returns predominantly through investment in a diversified portfolio of companies in emerging or frontier markets. Mobius Investment Trust will invest in a high conviction portfolio of 20-30 small to mid-cap companies, across emerging and frontier markets with a core sector exposure in consumer, technology and innovation.
Mobius Investment Trust will seek to unlock value by actively partnering with portfolio companies through a governance-orientated approach, seeking to act as a catalyst for broader environmental, social and governance (ESG) improvements. The trust will look for stakeholders that are open to, and have an interest in, positive change. This strategy is taking advantage of the strong relationship between integrating ESG criteria and improving operational and financial performance, with the greatest opportunity in emerging and frontier markets; It thereby seeks to maximise valuations with the dividend yield of portfolio companies expected to increase as a direct result of the corporate governance engagement.
You can access the company’s website here