Mithras Investment Trust PLC
Investment Policy
Mithras Investment Trust ("the Company") will make no new limited partnership commitments. The Company's investment policy is to invest, via its commitment to the Mithras Capital Fund, predominantly in European limited partnership buyout funds but it also has the ability to invest in US focused limited partnership buyout funds.The Company will make no new investments in listed vehicles.
No individual underlying portfolio company within any fund which the Company is committed to will represent more than 15% of the Company's gross assets.
The Company may use gearing to meet its objective. The Company will ensure that the ratio of total consolidated assets after deducting current liabilities to total net debt is at least 3:1.
No less than 85% of the revenue generated by private equity investments will be paid as dividends. The Company will pay the minimum dividend required to maintain investment trust status. When reasonably practicable, the Company will return surplus cash to shareholders consistent with cash balances and banking covenants, whether by way of dividend, share buy backs, reduction of capital or otherwise.