Articles tagged as "Orbis Global Equity Fund"
Beyond the US: Separating the signals from the noise
The US has dominated global news flow in the wake of the presidential election, and market-moving headlines continue to present the temptation to act on...
Orbis: President’s letter 2023
In his annual president’s letter, Adam R. Karr, from our offshore partner, Orbis, discusses the performance of the Orbis Strategies during 2023, looks back a...
2024: What will the election year hold?
From macroeconomic decisions to political outcomes, markets – and sentiment – can be temporarily influenced by various external factors. If 2023 will be...
Holding steady when global markets are in flux
In the latest episode of The Allan Gray Podcast, Radhesen Naidoo, Allan Gray’s joint head of Institutional Clients and the client-servicing lead for Orbis in...
Orbis: Navigating market change
To do well over the long term, you need to be positioned differently – particularly when markets are going through change. Fiona Jeffery, from our offshore...
Central Banks and Big Macs: Finding value in currencies
One of the easiest ways to lose money is to buy something for more than it is really worth. When picking stocks, we seek to avoid permanent capital loss by...
Orbis Global Equity: Value in a changing Japan
Optically, Japan has not been an attractive investment destination over the last 30 years. However, Brett Moshal, from our offshore partner, Orbis, illustrat...
The power of 1%
As we celebrate our 50 th anniversary, we are mindful of the collective efforts of teams, past and present, in building our long-term track record....
Orbis: President’s letter 2022
In his president’s letter, Adam Karr, from our offshore partner, Orbis, reflects on the actions that he and the team took during 2022 to ensure they delivere...
Was 2022 a secular turning point and if so, what does it mean for the years ahead?
In his first investment update of 2023, Duncan Artus discusses the current investment context and how it differs from the past, shares a review of 2022 and...
Orbis Global Equity: The duration dislocation
In investing, risk and opportunity are two sides of the same coin. Graeme Forster from our offshore partner, Orbis, unpacks current distortions in the market...
Understanding the impact of the Ukraine crisis on your investments
Like everyone else, we have been watching with dismay as the war in Ukraine unfolds. While in this piece we address some of the economic and investment...
Russia-led volatility underscores the need for calm, considered action
As recently as last week, it was still unclear whether or not Russia would launch a full-scale invasion of Ukraine. It is now all too clear that Putin wasn’t...
Orbis: President’s letter 2021
In his inaugural president’s letter, Adam Karr, from our offshore partner, Orbis, shares some thoughts about himself, the path forward for Orbis, the market...
Orbis: Taming turbulence
Turbulence. It’s a word that can strike fear into the heart of even the most seasoned air traveller and even a little of it has been known to put people off...
Orbis Global Equity: Navigating risk and reward
At a recent investment update via Zoom webinar, Matthew Spencer and Stanley Lu, from our offshore partner, Orbis, reviewed the Orbis Global Equity Fund’s...
Orbis: The three stages of recent performance explained
The past quarter has been painful. After an encouraging start to the year, the performance of our offshore partner, Orbis, has been impeded by its exposure t...
Markets change quickly, investments shouldn’t
We often say that we play the hand we are dealt by the market. We can control our research efforts and our decisions, but we certainly can’t control the...
Orbis: Unpacking the risks from regulatory change
For Chinese companies, regulatory change is a perennial risk. In July, the government gave investors a stark reminder of that risk when it announced sweeping...
Orbis: Global perspectives on Naspers
One of the largest positions in the Orbis Global Equity Fund is Naspers, whose key underlying asset is a 29% stake in the Chinese internet juggernaut Tencent...
Orbis: Are there real long-term opportunities in the US?
With just 30% of assets invested in US shares versus 66% for the MSCI World Index, the Orbis Global Equity Fund’s current underweight to the US market is the...
Podcast: A candid conversation with Orbis' Adam Karr
Taking a long-term, contrarian approach has influenced every aspect of how we invest and do business at Orbis and Allan Gray. From the way the firms are...
The benefits of neglect
When investors are scarce and investments are plentiful, investors pay low prices and investments offer high returns. When investors are plentiful and...
Orbis: Harder to get into than Harvard
If 2020 was an emotional roller coaster, the first month of 2021 provided a peek inside the darker corners of the funhouse. We remain hopeful that more...
Orbis: The power of perspective
It is easy to get caught up in the noise of short-term events like politics. What we have learned over the past 30 years is that a long-term view often revea...
Orbis: Identifying opportunities in a turbulent market
The continued outperformance of certain sectors, especially technology, has created an extremely high level of concentration within markets. This provides a...
How is the market up?
After the worst five-week crash ever, global stock markets have recovered all of their losses in just five months, with the MSCI World Index setting a new...
Orbis: Our job is to be uncomfortable
Our job at Allan Gray and Orbis is to be uncomfortable and to sweat our clients’ capital. Ultimately what we focus on is the risk of capital loss - and that...
Orbis: Tech opportunities rise in the East
Technology stocks have performed remarkably well in recent years and particularly amid the COVID-19 pandemic. John Christy and Stanley Lu, from our offshore...
Orbis: Resilience and enthusiasm at a time of uncertainty
In a presentation to advisers and clients via Zoom webinar, Matthew Spencer, from our offshore partner Orbis, discusses the disappointing recent performance ...
Orbis: Lesson from the past
In this seven-minute video, Orbis portfolio manager, Adam Karr, draws on lessons learned in previous market crises to discuss the current environment and som...
Orbis: Turn away from the noise and look to the long term
Much has been written about the emotional cycle of fear and greed in investing. Both panic and excessive optimism can create extraordinary opportunities for...
Orbis: Performance and positioning during COVID-19
There has been little else to talk about as COVID-19 dominates world headlines. Globally, everyone is trying to evaluate the real impact the pandemic will ha...
Orbis: Contrarian investing in an unconventional environment
Orbis has been going through a period of painful underperformance. Jonathan Brodie reminds investors what Orbis is trying to achieve, examines performance ov...
Orbis: Is value investing dead?
Over multiple decades, the traditional value approach of buying cheap stocks has worked remarkably well. Over the last decade, it hasn’t, leading an...
Q&A: Understanding Orbis’ performance and potential
Market breadth has been very narrow offshore, with few winners and many losers. Among the losers have been emerging markets and select cyclicals. At the same...
Will Value ever be fashionable again?
Fashion trends tend to move in cycles. Anyone who lived through the 1990s and kept wearing their Doc Martens and bright neon colours would have spent 25 year...
Orbis: enthusiasm for the portfolio
Contrarian investing is a strange profession. When things are going well, you can look like a magician – earning extraordinary returns while others flounder....
Changes to Orbis’ fee structure – good news for investors
Allan Gray’s offshore partner Orbis is introducing a new fee structure for African investors.
Orbis: A meaningfully improved fee structure
Orbis is intending to make various changes to its fee structure which includes the creation of a mechanism to invest performance fees it earns when times are...
Orbis: Perspectives on the portfolio
Matthew Spencer, from our Offshore partner Orbis, explains what has driven Orbis’ recent performance, while also sharing some research about performance tren...
Capital: Can companies have too much of a good thing?
In the centre of London, there is a market whose history stretches back to the first century. Built on the site of a Roman forum, Leadenhall was once the...
Orbis: Can you be patient and excited at the same time?
As contrarian investors who invest differently, periods of underperformance are part of the investment cycle and, while disappointing, they can offer...
Orbis: Key detractors from recent performance
Periods of underperformance are stressful and disappointing, and while they are an expected part of the investment cycle for us as a contrarian manager, we...
Understanding recent performance
2018 was a difficult year for investors with most asset classes falling in price. The prices of all assets are volatile; the only asset to seemingly lack...
Orbis Global Equity: Investing differently
Over the last five years, the median global equity manager has underperformed the MSCI World Index and many value-oriented global equity managers have done...
Finding value in an over-valued world
Defensive shares are normally a safe place to “hide” when valuations look high, but Orbis is currently finding more opportunities among cyclical shares where...
Orbis: Tech can be contrarian - if the price is right
We are contrarian investors, and technology shares are often popular. Given that, you might expect us to shun them. At times, we have: when tech stocks trade...
Global jitters: Avoid safe havens, opportunity in overlooked sectors
The uncertain global political and economic backdrop created by unexpected recent shocks has spooked investors. However fear, particularly when spurred by...
Orbis: Two myths about emerging market equities
At the end of 2015, emerging market (EM) shares had meaningfully underperformed developed market (DM) shares over the previous five years...
Contrarian investing and different performance
The valuation-based approach to investing used by Allan Gray and our offshore partner Orbis is often contrarian since the shares that are most attractively...
Orbis Global Equity: Guided by our investment philosophy
This piece was originally published in the Orbis March 2015 Quarterly Manager's Report. Over the 25-year history of Orbis' Global Equity Fund, the underlying...
Finding value in global markets
Emerging markets have come under intense focus so far this year and while the main worries have centred on countries such as Argentina and Turkey, the market...
High correlations present challenges
Actively managed funds, including the Orbis Global Equity Fund, have struggled to outperform the market over the past year. Actively managed funds are able t...
Looking back at 2011 and preparing for the years ahead
South Africa has thus far been spared the crushing austerity measures affecting Europe. Three important factors have been in our favour so far: a decade of...
Japan: economic pessimism creates buying opportunities
As bottom-up stock pickers, we believe that great investment opportunities can be found in even the most challenging conditions. Japan is a perfect example....
Responding to challenging times
Performance does not come in a straight line, which means that periods of long-term outperformance will always be accompanied by periods of, sometimes...
The story is in the stocks
Investors who give their money to professional managers to invest still wish to remain informed about what their managers are thinking and how therefore they...
