Mobius Investment Trust plc
MMIT.L
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- Mobius Investment Trust plc (MMIT.L) is a United Kingdom-based closed-ended investment company that seeks to deliver long-term absolute returns through a diversified portfolio of small- and mid-cap companies exposed directly or indirectly to emerging and frontier markets. The trust invests predominantly in equities of companies incorporated in or traded on exchanges in such markets, or those with the majority of operations or significant revenues derived therefrom but listed in developed markets; its portfolio emphasizes sectors including technology (over 50% allocation), healthcare, consumer cyclical, financial services, basic materials, industrials, and communication services, with key geographic exposures to Taiwan, India, South Korea, Thailand, Brazil, Vietnam, and the United States, exemplified by top holdings such as Classys Inc, E Ink Holdings Inc, Park Systems Corp, 360 One Wam Ltd, and EPAM Systems Inc. Managed by Mobius Capital Partners LLP (MCP Emerging Markets LLP), an independent firm founded in 2018 by Carlos von Hardenberg, the trust employs a concentrated, unconstrained long-only strategy with 25-30 holdings, active ownership engagement on ESG+C (Environmental, Social, Governance and Culture) pathways, and low correlations to benchmarks like the MSCI Emerging Markets Mid Cap Index. Founded on August 7, 2018, and listed on the London Stock Exchange in October 2018 (ISIN: GB00BFZ7R980), the company is headquartered at 25 Southampton Buildings, London WC2A 1AL, with an ongoing charge of 1.40%, total assets around £178-180 million, and annual dividend payments. It operates as a registered investment trust under SIC code 64301, domiciled in the UK, and offers a periodic Redemption Facility for shareholders, with redemption points every three years—the most recent occurring on November 30, 2025, following the prior event on November 30, 2022, where shares delivered strong total returns of 11.6% (share price) and 19.1% (NAV). In recent developments, the trust reported a net asset value total return of +5.2% and share price total return of +5.1% for the year ended November 30, 2024, alongside an increased final dividend of 1.7 pence per share (up from 1.25 pence); it expanded its investment team, marketing, and operations staff to support growth amid portfolio positioning in AI innovations and consumer demand recovery. The company conducted a competitive audit tender, appointing Johnston Carmichael LLP as its new auditor effective August 8, 2024, subject to shareholder confirmation at the 2025 AGM, where all resolutions passed on May 15, 2025; monthly NAV announcements and factsheets continue regularly, with the latest portfolio factsheet issued November 21, 2025, as at October 31, 2025. No major acquisitions, funding rounds, or strategic alliances were announced in 2024-2025, maintaining focus on its core active ownership strategy without significant reorganizations.