Manager Research
all members of our manager research team have over ten years of investment experience.
We have placed this fund under review (it currently holds a Tier 2 rating). In our initial evaluation our main concern was that the fund was limited to a set of Orbis funds to implement its investment strategy. This meant that not all investment views which the Allan Gray team wanted to implement could be actioned – there needed to be an appropriate Orbis fund available. The track record points to this – while Orbis Global equities has done particularly well, the Fund of Funds has not – with performance much in line with a passive benchmark over time. In response to this, Orbis has launched a new Global Balanced fund. This fund now comprises over 60% of the fund of funds and as such materially changes the nature of the fund of funds. We are in the process of rating The Orbis Global Balanced Fund and once complete will be able to make a final conclusion on this rating.
Fund Under Review: Allan Gray Orbis Global Fund of Funds
29 Mar 2015