Allan Gray-Orbis Global Equity comment - Oct 07 - Fund Manager Comment13 Nov 2007
Over the last year the Fund has returned 23.2% in dollars versus the 23.4% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find attractive investment opportunities. The overweight position in Japan and overweight exposure to the Yen have contributed to the Fund marginally underperforming its benchmark over the last year. We continue to believe that these holdings provide attractive investment opportunities. The Fund continues to have exposure to selected large capitalisation high quality companies in the United States where we believe that markets are uncharacteristically too pessimistic on their growth prospects.
Allan Gray-Orbis Global Equity comment - Sep 07 - Fund Manager Comment23 Oct 2007
Over the last year the Fund has returned 20.4% in dollars versus the 23.4% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find attractive investment opportunities. The overweight position in Japan and overweight exposure to the Yen have contributed to the Fund underperforming its benchmark over the last year. We continue to believe that these holdings provide attractive investment opportunities. The Fund continues to have exposure to selected large capitalisation high quality companies in the United States where we believe that markets are uncharacteristically too pessimistic on their growth prospects.
Allan Gray-Orbis Global Equity comment - Jun 07 - Fund Manager Comment13 Sep 2007
Over the last year the Fund has returned 28.7% in dollars versus the 25.5% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to
their book values. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This has provided the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - July 07 - Fund Manager Comment13 Sep 2007
Over the last year the Fund has returned 25.7% in dollars versus the 22.3% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find attractive investment opportunities. In America, the markets are uncharacteristically too
pessimistic on the growth prospects for some high quality companies. This has provided the Fund with additional opportunities
Allan Gray-Orbis Global Equity comment - Aug 07 - Fund Manager Comment13 Sep 2007
Over the last year the Fund has returned 18.6% in dollars versus the 19.1% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find attractive investment opportunities. In America, the markets are uncharacteristically too
pessimistic on the growth prospects for some high quality companies. This has provided the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - Apr 07 - Fund Manager Comment19 Jun 2007
The Fund delivered a 3.8% dollar return for the month compared to 4.5% for its benchmark. Over the last year the Fund has returned 16.8% in dollars versus the 17.8% return of its benchmark. The Rand strengthened during the month resulting in a return of 0.8% in Rands for the month. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - May 07 - Fund Manager Comment19 Jun 2007
Over the last year the Fund has returned 24.0% in dollars versus the 26.1% return of its benchmark. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - Mar 07 - Fund Manager Comment30 Apr 2007
The Fund delivered a 3.6% dollar return for the month compared to 2.0% for its benchmark. Over the last year the Fund has returned 16.6% in dollars versus the 16.4% return of its benchmark. The Rand weakened marginally during the month resulting in a return of 3.7% in Rands for the month. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values, although earnings remain relatively depressed. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - Jan 07 - Fund Manager Comment26 Mar 2007
The Fund delivered a 0.0% dollar return for the month compared to 1.1% for its benchmark. Over the last year the Fund has returned 12.8% in dollars versus the 17.0% return of its benchmark. The rand weakened during the month resulting in a return of 4.3% in rands for the month. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values, although earnings remain depressed. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - Feb 07 - Fund Manager Comment26 Mar 2007
The Fund delivered a 1.6% dollar return for the month compared to -0.5% for its benchmark. Over the last year the Fund has returned 14.7% in dollars versus the 16.6% return of its benchmark. The rand strengthened during the month resulting in a return of 1.0% in rands for the month. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values, although earnings remain depressed. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.
Allan Gray-Orbis Global Equity comment - Dec 06 - Fund Manager Comment23 Mar 2007
The Fund delivered a 1.8% dollar return for the month compared to 2.2% for its benchmark. Over the last year the Fund has returned 16.2% in dollars versus the 21.1% return of its benchmark. The Rand strengthened during the month resulting in a return of -2.0% in Rands for the month. The Fund remains overweight Asia and Japan, where it continues to find opportunities to invest in over-capitalised companies that are attractively priced in relation to their book values, although earnings remain depressed. In America, the markets are uncharacteristically too pessimistic on the growth prospects for some high quality companies. This is providing the Fund with additional opportunities.