Stefan Magnusson

Stefan joined Orbis in 2003. Based in Hong Kong, he leads the Emerging Markets Investment team and is accountable for the Orbis Emerging Markets Equity Strategy. He holds a Master's degree in Business and Economics from the Stockholm School of Economics, and pursued graduate studies at the University of St. Gallen and University of Melbourne. He also completed the Advanced Management Program at Harvard Business School. Stefan is a CFA^® charterholder.

Articles by Stefan Magnusson

Which risk runs deeper: owning or avoiding emerging markets?

By Stefan Magnusson on 04 Feb 2026

Reading time: 4 mins

Emerging markets (EMs) account for more than 80% of the world’s population and more than half of its gross domestic product (GDP) but less than a tenth of...

Orbis: Global perspectives on Naspers

By Stefan Magnusson and Edward Blain on 26 Jul 2021

Reading time: 12 mins

One of the largest positions in the Orbis Global Equity Fund is Naspers, whose key underlying asset is a 29% stake in the Chinese internet juggernaut Tencent...

Naspers: It simply doesn’t add up

By Ruan Stander and Stefan Magnusson on 16 Oct 2020

Reading time: 7 mins

The discount between Naspers’ share price and the value of its underlying assets has widened further and now looks quite extreme. Being a large holding in bo...

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...