Offshore investing - Allan Gray

Offshore investing

If you are keen to access different economies, geographic regions and a broader selection of companies, and in doing so increase your potential to earn returns under different conditions, you may wish to invest offshore. Here we offer some thoughts about investing offshore, and insights into offshore unit trusts, including those managed by Orbis and Allan Gray Australia.

Articles in "Offshore investing"

Insights categories - Offshore investing

Back to the future: Why studios are betting on the box office

By Jeffrey Miyamoto on 08 Aug 2024

Reading time: 9 mins

While many continue to doubt the viability of theatrical exhibition, viewing it as another legacy business that will crumble before the rising tide of...

Insights categories - Offshore investing

An offshore solution for the more cautious investor: introducing Orbis Global Cautious

By Nshalati Hlungwane on 08 Aug 2024

Reading time: 7 mins

We are pleased to introduce the Orbis SICAV Global Cautious Fund, which, as Nshalati Hlungwane discusses, meets the needs of more conservative investors...

Insights categories - Offshore investing

Geopolitical factors trigger concerns about Georgia

By Rory Kutisker-Jacobson on 15 Jul 2024

Reading time: 4 mins

Frontier markets, like Georgia, offer investors exposure to a range of sectors and opportunities that are not available in more developed markets, however,...

Insights categories - Offshore investing

Building multi-asset portfolios in an uncertain world

By Nshalati Hlungwane on 26 Jun 2024

Listening time: 54 mins

Periods of heightened uncertainty are inevitable when you are investing over the long term. And when it is not clear when or how things might change,...

Insights categories - Offshore investing

Introducing the Orbis SICAV Global Cautious Fund

By Nshalati Hlungwane on 10 May 2024

Reading time: 8 mins

We are pleased to introduce the Orbis SICAV Global Cautious Fund (Global Cautious or the Fund), a low equity, global multi-asset fund that we believe fulfils...

Insights categories - Offshore investing

US opportunities with a good prognosis: UnitedHealth and Elevance Health

By Povilas Dapkevicius and Matteo Sbalzarini on 02 May 2024

Reading time: 11 mins

While the US stock market represents about 70% of the FTSE World and MSCI World indices, just half of the Orbis Global Equity Fund is invested in American...

Insights categories - Offshore investing

How to invest offshore with Allan Gray – and allow for the transfer of wealth

By Julie Campbell on 02 May 2024

Reading time: 11 mins

Investing offshore is an important way to diversify your portfolio, spread your risk and get access to companies and industries not available locally. Julie...

Insights categories - Offshore investing

Beyond our borders: A case for investing offshore

By Horacia Naidoo-McCarthy on 02 May 2024

Reading time: 13 mins

Investing offshore should always form part of your long-term diversification strategy. South Africa comprises about 0.3% of the world’s market capitalisation...

Insights categories - Offshore investing

Build a legacy with the Allan Gray Offshore Endowment

By Julie Campbell and Guané Coetzer on 04 Apr 2024

Reading time: 9 mins

Investing offshore has long been a way to diversify and grow one’s wealth. This is even more relevant today, as investors seek strategies that will safeguard...

Insights categories - Offshore investing

Orbis: President’s letter 2023

By Adam R. Karr on 01 Feb 2024

Reading time: 19 mins

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...

Insights categories - Offshore investing

Holding steady when global markets are in flux

By Radhesen Naidoo on 13 Dec 2023

Listening time: 51 mins

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...

Insights categories - Offshore investing

The magnificent middle

By John Christy on 14 Nov 2023

Reading time: 6 mins

The so-called “magnificent seven” have dominated global headlines and returns this year. Take them out of the equation, and the rest of the market is slightl...

Insights categories - Offshore investing

From Johannesburg to Japan: How to resist the magnetism of the magnificent seven

By Tamryn Lamb on 28 Sep 2023

Listening time: 64 mins

In conversation with Tamryn Lamb, Allan Gray portfolio manager Tim Acker and Graeme Forster, portfolio manager at our offshore partner, Orbis, explain why we...

Insights categories - Offshore investing

Orbis: Navigating market change

By Fiona Jeffery on 21 Sep 2023

Reading time: 10 mins

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...

Insights categories - Offshore investing

Central Banks and Big Macs: Finding value in currencies

By John Christy on 28 Aug 2023

Reading time: 5 mins

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...

Insights categories - Offshore investing

Orbis Global Equity: Value in a changing Japan

By Brett Moshal on 31 Jul 2023

Reading time: 8 mins

Optically, Japan has not been an attractive investment destination over the last 30 years. However, Brett Moshal, from our offshore partner, Orbis, illustrat...

Insights categories - Offshore investing

Teenagers, curfews & interest rates

By Dan Brocklebank on 14 Jun 2023

Reading time: 5 mins

As interest rates have risen, we have seen a collapse in the valuations of a range of profitless tech companies.  More recently we have seen a crisis in the ...

Insights categories - Offshore investing

Are we entering a global stockpicker’s paradise?

By Rory Kutisker-Jacobson on 02 Jun 2023

Listening time: 40 mins

In conversation with portfolio manager Rory Kutisker-Jacobson, Matthew Spencer from our offshore partner, Orbis, explains why the Investment team believes th...

Insights categories - Offshore investing

Memory: Industry cycles, not the business cycle

By Rob Perrone on 31 May 2023

Reading time: 7 mins

Rob Perrone, a member of the team of Investment Counsellors at our offshore partner, Orbis, explores the case for investing in the memory semiconductor...

Insights categories - Offshore investing

Orbis Global Balanced: Investing through the cycles

By Alec Cutler on 04 May 2023

Reading time: 11 mins

History seemingly often repeats itself, but it might be dangerous to assume that the investing landscape over the next 20 years will be similar to that of th...

Insights categories - Offshore investing

Regime change and the rise of the stockpicker

By Alec Cutler on 11 Apr 2023

Viewing time: 4 mins

Alec Cutler chats to Bloomberg’s Merryn Somerset Webb about the impact of central bank and government intervention, the future of inflation and why being a...

Insights categories - Offshore investing

Signs of sea change

By Adam R. Karr on 30 Mar 2023

Viewing time: 1 min

Speaking at the recent Allan Gray Fund Provider event, Adam R. Karr, president and head of the Investment teams at our offshore partner, Orbis, explains why...

Insights categories - Offshore investing

Value matters: Steering a course through uncertain markets

By John Christy on 09 Mar 2023

Reading time: 6 mins

History suggests that good stockpicking results can make an enormous difference when equity markets are generally weak. However, savvy investors can take wha...

Insights categories - Offshore investing

Orbis: President’s letter 2022

By Adam R. Karr on 31 Jan 2023

Reading time: 12 mins

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...

Insights categories - Offshore investing

Five investment lessons from the last 20 years… for the next 20 years

By Dan Brocklebank on 26 Jan 2023

Reading time: 5 mins

Dan Brocklebank, head of UK operations at our offshore partner, Orbis, reflects on five lessons from the past two decades that investors can draw on to impro...

Insights categories - Offshore investing

The great misallocation

By John Christy on 13 Jan 2023

Reading time: 4 mins

The days of the ‘Everything bubble’ are long gone, but where are we in the latest boom-bust cycle? While they all follow a similar pattern, the current cycle...

Insights categories - Offshore investing

Orbis Global Balanced: Beware the Great and Powerful Dollar

By Alec Cutler on 27 Oct 2022

Reading time: 9 mins

The US dollar has rallied significantly over the course of this year, leaving other currencies in its wake. Alec Cutler, from our offshore partner, Orbis,...

Insights categories - Offshore investing

Podcast: Do old investment truths still hold in the current global environment?

By Rory Kutisker-Jacobson on 30 Sep 2022

Listening time: 42 mins

In the latest episode of The Allan Gray Podcast, hosted by Allan Gray portfolio manager Rory Kutisker-Jacobson, Dan Brocklebank, head of Orbis UK, reflects o...

Insights categories - Offshore investing

Positive energy: A contrarian take on transition

By Nicola Dormehl on 28 Sep 2022

Viewing time: 1 min

Nicola Dormehl, from our offshore partner, Orbis, discusses the energy transition and energy holdings that are likely to play an important and rewarding role...

Insights categories - Offshore investing

Orbis Global Equity: The duration dislocation

By Graeme Forster on 28 Jul 2022

Reading time: 11 mins

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...

Insights categories - Offshore investing

Solving the diversification dilemma

By Matthew Spencer on 28 Jun 2022

Viewing time: 5 mins

"Don’t put all your eggs in one basket" is a phrase familiar to many of us, and when it comes to investing and minimising risk, it is quite a sensible...

Insights categories - Offshore investing

Orbis investment update: Risks in the real world

By Alec Cutler and Rob Perrone on 03 Jun 2022

Viewing time: 27 min

Alec Cutler and Rob Perrone, from our offshore partner, Orbis, discuss the real risks the world is facing and the attractive investment opportunities Orbis h...

Insights categories - Offshore investing

Orbis Global Balanced: Russia-Ukraine conflict accelerates market shifts

By Alec Cutler on 26 Apr 2022

Reading time: 13 mins

Russia’s invasion of Ukraine is a painful reminder that there is more to life than markets, and our concern goes out to the people suffering. As investors, o...

Insights categories - Offshore investing

Russia-led volatility underscores the need for calm, considered action

By John Christy on 03 Mar 2022

Reading time: 5 mins

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...

Insights categories - Offshore investing

The power of perspective in an expensive market

By Ben Preston on 17 Feb 2022

Viewing time: 1 min

Historically, every decade has its “poster child” asset class. In the 70s it was gold, the 80s Japanese shares, and materials shares in the noughties. At the...

Insights categories - Offshore investing

Orbis: President’s letter 2021

By Adam R. Karr on 27 Jan 2022

Reading time: 15 mins

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...

Insights categories - Offshore investing

Orbis: Taming turbulence

By Neha Aggarwal on 09 Dec 2021

Viewing time: 1 min

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...

Insights categories - Offshore investing

Orbis Global Equity: Navigating risk and reward

By Matthew Spencer and Stanley Lu on 17 Nov 2021

Viewing time: 8 mins

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...

Insights categories - Offshore investing

Orbis: Inflation – the bottom-up case for caution

By Rob Perrone on 09 Nov 2021

Reading time: 7 mins

If headlines are to be believed, people are gravely concerned that inflation will rise. If market prices are to be believed, people are quietly convinced tha...

Insights categories - Offshore investing

Orbis: Our perspective on developed market bond yields

By Mark Dunley-Owen on 11 Oct 2021

Reading time: 4 mins

Bonds are typically included in an investment portfolio to provide diversification and deliver yield. Developed market bonds are currently offering much lowe...

Insights categories - Offshore investing

Orbis: The three stages of recent performance explained

By John Christy on 11 Oct 2021

Reading time: 11 mins

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...

Insights categories - Offshore investing

Markets change quickly, investments shouldn’t

By John Christy on 03 Sep 2021

Reading time: 5 mins

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...

Insights categories - Offshore investing

Orbis: Unpacking the risks from regulatory change

By Rob Perrone on 31 Jul 2021

Reading time: 6 mins

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...

Insights categories - Offshore investing

Orbis: The case for the not so boring middle

By Eric Marais and Matt Adams on 12 Jul 2021

Viewing time: 1 min

The past few quarters have seen a shift in market leadership, with technology stocks giving up ground to other, more cyclical sectors, prompting many to ask:...

Insights categories - Offshore investing

Why should you consider a global balanced fund?

By Ashley Lynn on 14 Jun 2021

Reading time: 1 min

Balanced funds aim for the investment “sweet spot”: Minimising risk while still delivering return. If you are looking to achieve a decent return investing...

Insights categories - Offshore investing

Beyond the froth: Orbis’ contrarian case for Comcast

By Harish Karhade on 20 May 2021

Reading time: 1 min

Like finding a really good coffee, finding a good long-term investment opportunity is not always easy. A coffee that looks delicious may taste foul, and ther...

Insights categories - Offshore investing

Orbis: Are there real long-term opportunities in the US?

By Matt Adams and Eric Marais on 22 Apr 2021

Reading time: 13 mins

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...

Insights categories - Offshore investing

Orbis: The great imbalance

By Ashley Lynn on 13 Apr 2021

Viewing time: 1 min

At its heart investing is a balancing act. Balancing how much you stand to gain if things go well, with how much you could lose if things don't work out. Now...

Insights categories - Offshore investing

Orbis Global Balanced Fund: A tour of the portfolio

By Alec Cutler on 01 Apr 2021

Viewing time: 58 mins

After the extraordinary performance of 2020, global stock and bond markets both appear unusually expensive. From this starting point, long-term returns for...

Insights categories - Offshore investing

Ballot underway for Allan Gray-Orbis Global Fund of Funds

By Tamryn Lamb on 10 Mar 2021

Reading time: 7 mins

There is currently a ballot underway for the Allan Gray-Orbis Global Fund of Funds (“the Fund”) which proposes changes to the Fund’s structure, name and...

Insights categories - Offshore investing

The benefits of neglect

By Ropafadzo Shoko on 08 Mar 2021

Reading time: 7 mins

When investors are scarce and investments are plentiful, investors pay low prices and investments offer high returns. When investors are plentiful and...

Insights categories - Offshore investing

Orbis: Harder to get into than Harvard

By John Christy on 17 Feb 2021

Reading time: 5 mins

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...

Insights categories - Offshore investing

Orbis: President's letter 2020

By William Gray on 27 Jan 2021

Reading time: 7 mins

In his annual president's letter, William Gray, from our offshore partner, Orbis, reflects on a difficult year and reaffirms his conviction in the team's...

Insights categories - Offshore investing

Orbis Global Equity: Positioned for multiple views of the future

By Ben Preston on 25 Nov 2020

Viewing time: 29 mins

2020 has been quite a year and many of us are undoubtedly looking forward to putting it in the past. The pandemic, global lockdowns, US elections, one of the...

Insights categories - Offshore investing

Orbis: Finding an edge in tech

By Alec Cutler on 16 Oct 2020

Reading time: 11 mins

The future of society and technology requires ever-increasing connectivity, data speeds, and computational power, and those improvements depend on ever more...

Insights categories - Offshore investing

Orbis: Identifying opportunities in a turbulent market

By Ben Preston on 08 Oct 2020

Viewing time: 6 mins 29 seconds

The continued outperformance of certain sectors, especially technology, has created an extremely high level of concentration within markets. This provides a...

Insights categories - Offshore investing

How is the market up?

By Rob Perrone on 11 Sep 2020

Reading time: 4 mins

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...

Insights categories - Offshore investing

Orbis: Our job is to be uncomfortable

By Brett Moshal on 03 Aug 2020

Viewing time: 8 mins 26 seconds

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...

Insights categories - Offshore investing

Orbis: Tech opportunities rise in the East

By John Christy and Stanley Lu on 03 Jul 2020

Reading time: 13 mins

Technology stocks have performed remarkably well in recent years and particularly amid the COVID-19 pandemic. John Christy and Stanley Lu, from our offshore...

Insights categories - Offshore investing

Orbis: Resilience and enthusiasm at a time of uncertainty

By Matthew Spencer on 25 May 2020

Reading time: 7 mins

In a presentation to advisers and clients via Zoom webinar, Matthew Spencer, from our offshore partner Orbis, discusses the disappointing recent performance ...

Insights categories - Offshore investing

Orbis: Keeping a clear head during the COVID chaos

By Alec Cutler on 08 May 2020

Reading time: 7 mins

2020 has proven to be a year of many firsts, for all the wrong reasons, resulting in much uncertainty. Presenting to clients via Zoom webinar, Alec Cutler,...

Insights categories - Offshore investing

Orbis: Lesson from the past

By Adam R. Karr on 06 May 2020

Reading time: 1 min

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...

Insights categories - Offshore investing

Orbis: The importance of preparation

By William Gray on 06 May 2020

Reading time: 1 min

In this six-minute video, Orbis' president and head of the investment team, William Gray, discusses the impact of COVID-19 on the firm and the importance of...

Insights categories - Offshore investing

Orbis: Turn away from the noise and look to the long term

By Ben Preston on 23 Apr 2020

Reading time: 9 mins

Much has been written about the emotional cycle of fear and greed in investing. Both panic and excessive optimism can create extraordinary opportunities for...

Insights categories - Offshore investing

Orbis: Performance and positioning during COVID-19

By Radhesen Naidoo on 17 Apr 2020

Reading time: 9 mins

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...

Insights categories - Offshore investing

Orbis: Well positioned for the challenges that lie ahead

By William Gray on 29 Jan 2020

Reading time: 5 mins

In his annual president’s letter, William Gray, from our offshore partner, Orbis, pays tribute to his father and reviews Orbis’ performance and prospects.

Insights categories - Offshore investing

Orbis’ improved fee structure: Highlights and FAQ

By Tamryn Lamb on 29 Jan 2020

Reading time: 9 mins

Our offshore partner, Orbis, is improving its fee structure. We intend to implement these changes on 14 May 2020.

Insights categories - Offshore investing

Orbis: Contrarian investing in an unconventional environment

By Jonathan Brodie on 30 Oct 2019

Reading time: 9 mins

Orbis has been going through a period of painful underperformance. Jonathan Brodie reminds investors what Orbis is trying to achieve, examines performance ov...

Insights categories - Offshore investing

Orbis: Is value investing dead?

By Brett Moshal and Michael Heap on 28 Oct 2019

Reading time: 13 mins

Over multiple decades, the traditional value approach of buying cheap stocks has worked remarkably well. Over the last decade, it hasn’t, leading an...

Insights categories - Offshore investing

Q&A: Understanding Orbis’ performance and potential

By Duncan Artus and Edward Blain on 28 Oct 2019

Reading time: 11 mins

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...

Insights categories - Offshore investing

Orbis: There are bigger risks than swimming against the tide

By John Christy on 06 Sep 2019

Reading time: 5 mins

We have always described ourselves as “contrarian” investors. While many of our best investment decisions on behalf of clients in the past have been at odds...

Insights categories - Offshore investing

Orbis: enthusiasm for the portfolio

By Ben Preston on 29 Jul 2019

Reading time: 8 mins

Contrarian investing is a strange profession. When things are going well, you can look like a magician – earning extraordinary returns while others flounder....

Insights categories - Offshore investing

Changes to Orbis’ fee structure – good news for investors

By Tamryn Lamb on 27 Jun 2019

Reading time: 7 mins

Allan Gray’s offshore partner Orbis is introducing a new fee structure for African investors.

Insights categories - Offshore investing

Orbis: A meaningfully improved fee structure

By Tamryn Lamb on 18 Jun 2019

Reading time: 9 mins

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...

Insights categories - Offshore investing

Orbis: Perspectives on the portfolio

By Matthew Spencer on 14 Jun 2019

Reading time: 15 mins

Matthew Spencer, from our Offshore partner Orbis, explains what has driven Orbis’ recent performance, while also sharing some research about performance tren...

Insights categories - Offshore investing

How to diversify efficiently from South Africa

By Tinotenda Mtemeri on 12 Jun 2019

Reading time: 4 mins

The poor performance of the rand is an ongoing concern for investors. Gaining offshore exposure is a good way to mitigate against the risk that a weak rand...

Insights categories - Offshore investing

Capital: Can companies have too much of a good thing?

By Rob Perrone on 17 May 2019

Reading time: 6 mins

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...

Insights categories - Offshore investing

Orbis: Hunting for value

By Alec Cutler on 29 Apr 2019

Reading time: 10 mins

Buying cheap stocks and selling them for a profit sounds like a reasonable way to make money. But there’s a bit more to it when it comes to the way we invest...

Insights categories - Offshore investing

Orbis: Can you be patient and excited at the same time?

By Radhesen Naidoo on 05 Apr 2019

Reading time: 6 mins

As contrarian investors who invest differently, periods of underperformance are part of the investment cycle and, while disappointing, they can offer...

Insights categories - Offshore investing

Allan Gray-Orbis rand-denominated offshore unit trusts open; living annuity offshore limits removed

By Tamryn Lamb on 28 Mar 2019

Reading time: 3 mins

After a review of our offshore asset exposures, we are pleased to announce that we have reopened the Allan Gray-Orbis rand-denominated offshore unit trusts f...

Insights categories - Offshore investing

Orbis: Key detractors from recent performance

By Radhesen Naidoo on 08 Mar 2019

Reading time: 5 mins

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...

Insights categories - Offshore investing

Orbis: Positioning portfolios for long-term performance

By William Gray on 25 Jan 2019

Reading time: 5 mins

William Gray, from our offshore partner, Orbis, reviews Orbis’s recent performance and discusses their investment approach in the current environment.

Insights categories - Offshore investing

Simplifying offshore investing

By Julie Campbell on 25 Jan 2019

Reading time: 11 mins

Over the years, South African exchange control regulations, which limit the amount that you can transfer or invest abroad, have been relaxed considerably. Th...

Insights categories - Offshore investing

The role of currency when investing offshore

By Dan Brocklebank on 09 Nov 2018

Viewing time: 2 mins 30 seconds

If you buy a share in your local market, assessing your performance is easy. If the price goes up, you make money. If you buy shares in other markets, howeve...

Insights categories - Offshore investing

What is a good offshore strategy?

By Dan Brocklebank and Tamryn Lamb on 23 Oct 2018

Viewing time: 1 min

Novice and experienced investors often ask the same question time and again: When is the best time to invest offshore?

Insights categories - Offshore investing

Orbis Global Equity Fund: Unpacking recent performance

By Stefan Magnusson on 17 Oct 2018

Reading time: 8 mins

As bottom-up stockpickers, we don’t pay much attention to benchmarks or to what other investors are doing. Instead, our investment decisions are based on...

Insights categories - Offshore investing

Offshore investing: Not a popularity contest

By Dan Brocklebank on 10 Aug 2018

Reading time: 3 mins

There is no such thing as a ‘popular investment opportunity’. If it’s popular, then that popularity will already be reflected in the price you have to pay. A...

Insights categories - Offshore investing

Orbis: How to balance risk and return in the current environment

By Alec Cutler on 30 Jun 2018

Reading time: 10 mins

As we look at opportunities around the world, one thing seems clear – it is no time to be a hero. According to Alec Cutler, from our offshore partner, Orbis,...

Insights categories - Offshore investing

Cloudy crystal ball

By Alec Cutler on 18 Jun 2018

Reading time: 6 mins

Two years ago, our crystal ball was cloudy. Shares and commodity prices suffered a rout in early 2016, and markets were concerned that economies around the...

Insights categories - Offshore investing

Adopt a global mind-set for long-term investment success

By Tamryn Lamb and Earl Van Zyl on 15 Jun 2018

Reading time: 6 mins

South African investors are fixated on the rand exchange rate, so much so that our currency movements act as a barometer of our nation’s mood: when the rand ...

Insights categories - Offshore investing

Allan Gray-Orbis Global Fund of Funds update: Balancing risk and return

By Alec Cutler and Ashley Lynn on 22 May 2018

Reading time: 4 mins

A large portion of the Allan Gray Orbis Global Fund of Funds (the Fund) is invested in the Orbis Global Balanced Fund. But what is a “balanced fund”? The...

Insights categories - Offshore investing

Orbis Global Equity: Investing differently

By Matt Adams on 19 Apr 2018

Reading time: 11 mins

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...

Insights categories - Offshore investing

Do you need to rethink your offshore investment exposure?

By Earl Van Zyl on 19 Apr 2018

Reading time: 10 mins

Treasury’s decision to increase offshore investment limits for unit trusts, investment managers and long-term insurers is great news for savers and their...

Insights categories - Offshore investing

Currency matters

By Rob Perrone on 23 Mar 2018

Reading time: 5 mins

Rob Perrone, from our offshore partner Orbis, discusses why exchange rates are a big deal, and how Orbis actively manages currency exposure in it funds...

Insights categories - Offshore investing

Q&A: Orbis Global Equity Fund

By Tamryn Lamb on 09 Feb 2018

Reading time: 9 mins

What are the names of the managers of the Orbis Global Equity Fund and where are they based...

Insights categories - Offshore investing

The global opportunity set

By John Christy on 24 Jan 2018

Reading time: 11 mins

Orbis does not invest in "the market". Instead, they focus entirely on finding the most compelling individual opportunities on offer. There's no better way t...

Insights categories - Offshore investing

Will traditional car manufacturers be driven off the road by their electric counterparts?

By Tamryn Lamb on 01 Dec 2017

Listening time: 10 mins

Investors in general are pessimistic about the autos sector. They are worried about earnings declines and the growth of electric cars, produced by the likes ...

Insights categories - Offshore investing

Finding value in an over-valued world

By Ben Preston on 23 Nov 2017

Reading time: 9 mins

Defensive shares are normally a safe place to “hide” when valuations look high, but Orbis is currently finding more opportunities among cyclical shares where...

Insights categories - Offshore investing

Emerging market equities: looking beyond the mega-caps

By Woojin Choi on 24 Oct 2017

Reading time: 7 mins

Our offshore partner Orbis launched an Emerging Markets Equity Strategy in January 2016. Later that year it broadened the mandate of its Asia ex-Japan Equity...

Insights categories - Offshore investing

Orbis: Tech can be contrarian - if the price is right

By Rob Perrone on 26 Sep 2017

Reading time: 5 mins

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...

Insights categories - Offshore investing

Global jitters: Avoid safe havens, opportunity in overlooked sectors

By Dan Brocklebank on 15 Sep 2017

Reading time: 5 mins

The uncertain global political and economic backdrop created by unexpected recent shocks has spooked investors. However fear, particularly when spurred by...

Insights categories - Offshore investing

Tech stocks: Is history repeating itself?

By Ben Preston on 20 Jul 2017

Reading time: 8 mins

To cut through the suspense, let me admit up front that I’m not going to answer the question directly: we don’t find it productive to spend a lot of time...

Insights categories - Offshore investing

Key buckets of opportunities

By Tamryn Lamb on 29 Jun 2017

Viewing time: 1 min

In our search for undervalued assets we have found companies that fit into five categories...

Insights categories - Offshore investing

Why the classic 60/40 is dangerous

By Matthew Spencer on 19 Jun 2017

Viewing time: 1 min

Sixty percent equities and forty percent bonds has become such a standard for “moderate risk” that any other allocation raises eyebrows...

Insights categories - Offshore investing

How to pick offshore investments for long-term wealth creation

By Matthew Spencer on 19 Jun 2017

Reading time: 7 mins

Living in South Africa, or even as a South African living abroad, it’s easy to become completely sucked into the news about our country...

Insights categories - Offshore investing

Orbis: Two myths about emerging market equities

By Graeme Shaw on 15 Jun 2017

Reading time: 6 mins

At the end of 2015, emerging market (EM) shares had meaningfully underperformed developed market (DM) shares over the previous five years...

Insights categories - Offshore investing

Orbis: Are there any bargains out there?

By William Gray and Jeremie Teboul on 31 Mar 2017

Reading time: 10 mins

Since 1990, the Orbis Global Equity Fund’s investment mandate has been to seek higher returns than the average of the world’s equity markets, without greater...

Insights categories - Offshore investing

Beware the siren song of growth

By Dan Brocklebank on 03 Mar 2017

Reading time: 5 mins

Growth has an almost irresistible allure for investors. Whether it’s a rapidly growing economy, a start-up with a hot new product, or a new industry that...

Insights categories - Offshore investing

Global perspective: Do value shares deserve to be this cheap?

By Alec Cutler on 31 Dec 2016

Reading time: 7 mins

The Orbis Global Balanced Fund aims to balance capital appreciation and income generation with the associated risk of its investments. These objectives...

Insights categories - Offshore investing

Something’s got to give...

By Simon Mawhinney on 09 Dec 2016

Reading time: 4 mins

Recently companies in Australia that have grown their earnings and paid large dividends have been well rewarded. But is this sustainable?

Insights categories - Offshore investing

Orbis: Not just looking for cheap stocks

By Jeremie Teboul on 07 Oct 2016

Reading time: 5 mins

Our investment approach, which we share with our offshore partner Orbis, is sometimes characterised as ‘looking for cheap stocks’. Jeremie Teboul from Orbis...

Insights categories - Offshore investing

Pursuing long-term returns without simply reaching for risk

By Ben Preston and Maurits Ovaa on 30 Sep 2016

Reading time: 7 mins

Ben Preston and Maurits Ovaa explain why Orbis believes minimising losses is arguably more important than maximising gains at a time when many stock markets ...

Insights categories - Offshore investing

XPO Logistics: Diversification through owning both shares and bonds

By Ashley Lynn and Matt Adams on 30 Jun 2016

Reading time: 7 mins

Forming contrarian views about the intrinsic value of companies is the core of what we do. In the Orbis Global Balanced Fund, this fundamental company resear...

Insights categories - Offshore investing

Playing a loser's game

By William Gray on 31 Mar 2016

Reading time: 7 mins

The loser’s game isn’t especially fun to play, but it is a winning strategy for those who have the discipline and the patience for it. William Gray, from our...

Insights categories - Offshore investing

Discipline is key

By Graeme Forster and John Christy on 31 Dec 2015

Reading time: 9 mins

The Orbis Global Equity Fund (the Fund) lagged the MSCI and FTSE World Indices in 2015, extending a period of underperformance that began in early 2014. As...

Insights categories - Offshore investing

Orbis: Buying carefully in indiscriminate selloffs

By Tamryn Lamb on 24 Dec 2015

Reading time: 5 mins

Periods of short-term underperformance are a price we must pay for seeking superior long-term returns. The third quarter certainly qualified as one of those...

Insights categories - Offshore investing

Contrarian investing and different performance

By Mahesh Cooper on 30 Sep 2015

Reading time: 8 mins

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...

Insights categories - Offshore investing

A tale of two crises

By Tamryn Lamb on 24 Aug 2015

Reading time: 8 mins

Greece and China have dominated financial headlines since March. With fear running high, we try to remain focused on the relationship between the price and...

Insights categories - Offshore investing

The case for active management

By Matt Adams and Adam R. Karr on 30 Jun 2015

Reading time: 9 mins

It is popular these days to talk about how difficult the past several years have been for active managers. In a sense, however, active management is always...

Insights categories - Offshore investing

Orbis Global Equity: Guided by our investment philosophy

By Graeme Forster on 31 Mar 2015

Reading time: 8 mins

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...

Insights categories - Offshore investing

Orbis Funds: Reflecting on 2014 and looking ahead

By Graeme Forster on 31 Dec 2014

Reading time: 11 mins

This piece was originally published in the Orbis December 2014 Annual Manager's Report. In 2014, Orbis identified several new opportunities, including select...

Insights categories - Offshore investing

Orbis funds: Finding the best long-term value for clients

By Seema Dala on 30 Sep 2014

Reading time: 8 mins

The Orbis Global Equity Fund will mark its 25th year at the end of December. In that time, Orbis has provided access to the same fundamental, contrarian,...

Insights categories - Offshore investing

Orbis Global Balanced Fund: Balancing risk and reward

By Alec Cutler on 30 Jun 2014

Reading time: 8 mins

Orbis has launched a new global multi-asset fund – the Orbis Global Balanced Fund. The Fund has been registered for marketing in South Africa and is now...

Insights categories - Offshore investing

Introducing the Orbis Global Balanced Fund

By Tamryn Lamb on 22 May 2014

Reading time: 7 mins

Like Allan Gray, Orbis has a limited range of funds which it believes addresses the needs of most investors. New funds are only introduced after very careful...

Insights categories - Offshore investing

How to access investment opportunities in Asia

By Seema Dala on 31 Mar 2014

Reading time: 7 mins

Asia presents interesting investment opportunities, but for the average investor, researching these opportunities would be a massive undertaking fraught with...

Insights categories - Offshore investing

Finding value in global markets

By Seema Dala on 31 Mar 2014

Reading time: 10 mins

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...

Insights categories - Offshore investing

Hunting for compelling opportunities in the current environment

By Adam R. Karr on 31 Dec 2013

Reading time: 8 mins

2013 was a good year for global stock markets. The FTSE World Index returned 24.7% in US$ terms since the start of 2013 and is near an all-time high. The Orb...

Insights categories - Offshore investing

Access global investment opportunities via our offshore platform

By Johann Grandia on 30 Sep 2013

Reading time: 6 mins

We understand that many investors are keen to invest offshore but neglect to do so as they find it too daunting. Johann Grandia discusses some of the...

Insights categories - Offshore investing

Orbis Global Equity Fund: A reversal of fortunes

By Seema Dala on 30 Sep 2013

Reading time: 8 mins

After a prolonged period of relative underperformance, since January this year the Orbis Global Equity Fund has meaningfully outpaced its benchmark in US...

Insights categories - Offshore investing

Equity opportunities down under

By JD de Lange and LJ Collyer on 30 Jun 2013

Reading time: 8 mins

Last quarter, Seema Dala wrote about the importance of diversifying your portfolios by investing offshore. Australia is definitely offshore from South Africa...

Insights categories - Offshore investing

Do not confuse stability with safety

By Ben Preston on 30 Jun 2013

Reading time: 8 mins

According to Ben Preston, from our offshore partner Orbis, Orbis and Allan Gray's strict adherence to our bottom-up research process keeps us focused on...

Insights categories - Offshore investing

Drilling into the detail of oil and gas investments

By Dan Brocklebank on 31 Dec 2012

Reading time: 11 mins

At first glance, the Orbis Global Equity Fund's exposure to Oil & Gas; Gas stocks appears to be similar to that of its benchmark. At December 2012, about 9% ...

Insights categories - Offshore investing

A healthy approach

By Seema Dala and Tamryn Lamb on 30 Sep 2012

Reading time: 11 mins

Broadly speaking, one could think about building a portfolio in two key ways. Investors with a 'top-down' approach start with a wide view of the world and ma...

Insights categories - Offshore investing

Investing: a history of bubbles

By Jonathan Brodie on 30 Jun 2012

Reading time: 9 mins

'Invest in stocks? Forget about it.' - USA Today headline, 8 May 2012. As contrarian investors, we cannot help but take notice when one of the most widely re...

Insights categories - Offshore investing

High correlations present challenges

By Seema Dala and Chris du Toit on 31 Mar 2012

Reading time: 8 mins

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...

Insights categories - Offshore investing

Things you can control, and things you cannot

By Trevor Black and Jonathan Brodie on 31 Dec 2011

Reading time: 8 mins

In this current very uncertain world, we cannot begin to control or predict political or economic outcomes. But we can control what shares we buy and we are...

Insights categories - Offshore investing

Japan: economic pessimism creates buying opportunities

By Trevor Black and Ben Preston on 30 Jun 2011

Reading time: 8 mins

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....

Insights categories - Offshore investing

Responding to challenging times

By Henry Allen and Trevor Black on 31 Dec 2010

Reading time: 8 mins

Performance does not come in a straight line, which means that periods of long-term outperformance will always be accompanied by periods of, sometimes...

Insights categories - Offshore investing

When is bad news good news?

By Chris du Toit and Tamryn Lamb on 30 Sep 2010

Reading time: 8 mins

As contrarian investors we are always on the lookout for shares that we can buy at a significantly lower price than we believe they are worth. Thus, with ban...

Insights categories - Offshore investing

The story is in the stocks

By Jonathan Brodie and Trevor Black on 30 Jun 2010

Reading time: 8 mins

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...

Insights categories - Offshore investing

Tough to be different

By Jonathan Brodie and Trevor Black on 31 Dec 2009

Reading time: 8 mins

In the Q2 Quarterly Commentary, Jonathan Brodie and Trevor Black of Orbis discussed the fact that long-term outperformance requires a partnership between the...

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