African Investor Relations

The National Investment Trust Limited

NITL is a closed-end fund that invests in a diversified portfolio of Malawi Stock Exchange listed shares and unlisted private securities. The Fund is a product of Malawi’s progressive privatisation policy and is an ideal investment avenue for investors wanting broad exposure to the Malawi Stock Exchange without having to invest individually in each listed company. NITL’s unlisted investment portfolio provides upside potential through its exposure to unlisted equities. NITL’s investment objectives are to provide both income and capital growth to investors. Gains made from investments listed on the Malawi Stock Exchange are free from taxation if held for more than a year. NITL is professionally managed by First Merchant Bank’s Asset Management Division.