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 Overview Annualised Investment Returns from inception to 16 May 2013 News and Links

Orbis provides investment management services to institutions and individuals through the Orbis mutual funds. We use our own research to select equities that are priced significantly below our assessment of their intrinsic value. We believe that a focused portfolio of such equities will deliver superior long-term returns and, importantly, less risk of loss than the average equity portfolio.

For investors seeking positive returns regardless of stockmarket trends, Orbis has absolute return funds that invest in our equity portfolios, complemented with hedging to reduce the risk of loss associated with declines in stockmarkets. Orbis funds have performance-based fees, weekly dealing and no front or back end loads.

Equity Funds%p.a.CurrSinceGraphs
Orbis Global Equity Fund12.5US$1990
FTSE World Index (US$)6.8US$
Orbis SICAV Japan Equity (Yen) Fund*8.7Yen1998
TOPIX Total Return Index1.8Yen
Orbis SICAV Asia ex-Japan Equity Fund*11.1US$2006
MSCI All Country Asia ex Japan (Net) (US$) Index9.1US$
Absolute Return Funds
Orbis Optimal (US$) Fund9.1US$1990
Orbis Leveraged (US$) Fund11.8US$1990
Bank Deposits (US$)3.8US$
Average Global Equity Fund (US$)5.2US$
Average US$ Bond Fund5.2US$

The Orbis Global Equity, Japan Equity, Asia ex-Japan Equity and Optimal Strategies are currently accepting subscriptions from existing investors and qualified new investors. The Orbis Leveraged Funds remain closed to all new investments. To view the availability of all of our funds, click here.

You may register to receive prices and performance by e-mail in our Online Services facility.


20 May 2013 - Important information for investors in the Allan Gray Africa Equity Fund: The Annual General Meeting ("AGM") of the Company has been convened for Wednesday 12 June 2013. Investors in the fund should click here for further information.

3 May 2013 - The 31 March 2013 Quarterly Reports are available in pdf format here. Originals will be sent to Members early next week. If you have not subscribed to receive the reports automatically by e-mail you may register by clicking here.

1 May 2013 - The 30 April 2013 Fact Sheets for all funds are available in pdf format here. If you would like to be sent an update of these each month by e-mail please register here.

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Sources: FTSE World Index: FTSE International Limited; TOPIX Total Return Index: Nomura Research Institute Tokyo, TSE; MSCI TR: MSCI Inc. Average Fund data: ©2013 Morningstar Inc. All Rights Reserved. Average Fund data (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. "FTSE" is a trademark of the London Stock Exchange Limited and is used by FTSE International Limited under licence. "MSCI" is a trademark of MSCI Inc. and is used by Orbis Investment Management Limited under licence.

Past performance is not a reliable indicator of future results. Orbis Fund share prices fluctuate and are not guaranteed. When making an investment in the funds, an investor's capital is at risk. The information posted on this website is not intended and in no circumstances should it be regarded as an of offer or sale of the Funds in the United States or to U.S. persons. Any offer and sale of Fund shares made in the United States will be made only in full compliance with US Securities laws and pursuant to an exemption from registration.

In the United Kingdom, with the exception of the Orbis SICAV, which is a recognised scheme under section 264 of the Financial Services and Markets Act 2000 (FSMA), the Orbis Funds are unregulated collective investment schemes for UK purposes, the promotion of which in the UK are restricted by sections 21 and 238 of the FSMA. The protections provided by the UK regulatory system, including recourse to the UK Financial Services Compensation Scheme, do not extend to investments in the Orbis Funds. This website is not designed, intended nor may it be used as a financial promotion to any person in the UK other than those to whom it may be communicated under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001.

Please read Legal Warning before continuing. Orbis Investment Management Limited and Orbis Investment Management (B.V.I.) Limited are licensed to conduct investment business by the Bermuda Monetary Authority.

* The Orbis SICAV Global Equity Fund, the Orbis SICAV Japan Equity Fund, (which includes Yen and Euro Classes) and the Orbis SICAV Asia ex-Japan Equity Fund are funds of Orbis SICAV, a UCITS IV compliant Luxembourg fund, which is the only Orbis investment company admitted for public marketing in Luxembourg. Prior to 29 November 2002, the Yen Class of the Orbis Japan Equity Fund was a British Virgin Islands investment company, Orbis Japan Equity (Yen) Fund Limited. The returns for the Orbis SICAV Global Equity Fund and the Orbis SICAV Asia ex-Japan Equity Fund relate to the investor class of shares.