Dr Simon Marais - Chartered Financial AnalystPortfolIo MAnAger...

Dr Simon Marais - Chartered Financial Analyst
PortfolIo MAnAger
orbIs InvestMent MAnAgeMent
Investment style
orbis’ investment style is best described as:
Focused:

» the equity fund typically
contains about 50 primary positions.
Contrarian:

» often shares that orbis
prefers are disliked by others.
orbis believes that they are unlikely to
find great investments in areas that other
investors are excited about.
Value-oriented:

» orbis is not a value
manager in the sense of buying only
stocks with low price/earnings ratios or
avoiding companies with high growth.
orbis focuses on intrinsic value and
holds shares selling at low prices relative
to their intrinsic value.
Long term:

» the manager believes that
it can take time for a company’s intrinsic
value to be fully reflected in its share price.
they therefore conduct research with at
least a four-year investment time horizon.