orbis investment management minimum requirements to join

Most offshore funds must resort to charging their investors 3% to 5% initial sales charges to pay financial advisers to flog their funds. 'We are very focused and, when it comes to investment performance, almost obsessed,' says Allan Gray. When it comes to managing money, however, stand back. The Grays work reasonable hours and enjoy boating, tennis and golf at the Mid Ocean Club in Tucker's Town. Other fund managers make a sport of working 14-hour days. William Gray, Orbis' president and manager of the Orbis funds, dresses casually and greets Forbes Global with a simple 'Hi, I'm William.' The elder Gray is so soft-spoken that at times he's barely audible over the telephone. The Grays, however, could hardly be more relaxed and easygoing. You'd think that the guys behind performance numbers like Orbis' would be pretty intense. Another 23 Orbis employees are in London. Tucked away in a fourth-floor office suite near Front Street, Hamilton's main thoroughfare, Orbis employs 21 analysts, traders, and support staff in Bermuda. Partly for reasons of financial infrastructure and partly for lifestyle, in 1989 Gray-joined by his son William in 1993-set up shop in Bermuda. The firm is now the largest privately owned manager of retirement assets in South Africa, with $3.4 billion under management, and advises the $60 million (assets) Orbis Africa Equity Fund. has outpaced the Johannesburg All-Share index by a compound average margin of 11% a year, beating the index in 21 out of 27 years. Allan Gray? He pursued his dream of starting his own firm and returned to Cape Town in 1973, where he started Allan Gray Ltd.-an institutional manager of South African stocks. Tsai went on to make his fame and fortune in the insurance business, and Lynch became an American household name running Fidelity's huge Magellan fund. in hand, he went to work at Fidelity Investments in its heyday, at the same time as the gunslinger Gerry Tsai and Peter Lynch, under the watchful eye of its owner, Edward Johnson II, and his son, Ned Johnson, now chairman. in 1963 to attend Harvard's business school. But more on this aspect of Orbis later.īorn and raised in East London, South Africa, Allan Gray came to the U.S. The typical offshore global equity fund monitored by Fitzrovia hits its investors with big sales loads and annual expenses of 1.93%.

This year, with the FTSE World index down 7% through the end of July, Orbis is enjoying a 21% gain.įees? According to Fitzrovia International in London, Orbis Global Equity's total expense ratio is just 0.67% before performance-related fees. Orbis also trounces its peers and benchmarks over three-year and five-year periods. The same amount invested in the FTSE World index? Just $270,000-and Orbis Global was no more volatile than the index. Factoring in all fees (but excluding taxes), $100,000 invested in Orbis Global Equity in 1991 would now be worth almost $500,000. Put another way, at 17.3% a year compounded, money doubles every 52 months.

That's more than double the average global fund's performance.

1 over the past ten years of all offshore global equity funds, according to Standard & Poor's Fund Services, with a 17.3% compound annual return over the period. Performance? Orbis Global Equity ranks No. It's hard to find a fund that fits this profile better than Orbis Global Equity, a $1 billion fund run from Hamilton, Bermuda, by Allan Gray, 63, and his 34-year-old son William.

Orbis investment management minimum requirements to join