Offshore investing

If you are keen to access different economies, geographic regions and a broader selection of companies, and in doing so increase your potential to earn returns under different conditions, you may wish to invest offshore. Here we offer some thoughts about investing offshore, and insights into offshore unit trusts, including those managed by Orbis and Allan Gray Australia.

Articles in "Offshore investing"

Orbis: A meaningfully improved fee structure

By Tamryn Lamb on 18 Jun 2019

reading time: 9 mins

Orbis is intending to make various changes to its fee structure which includes the creation of a mechanism to invest performance fees it earns when times are...

Orbis: Perspectives on the portfolio

By Matthew Spencer on 14 Jun 2019

reading time: 15 mins

Matthew Spencer, from our Offshore partner Orbis, explains what has driven Orbis’ recent performance, while also sharing some research about performance tren...

How to diversify efficiently from South Africa

By Tinotenda Mtemeri on 12 Jun 2019

reading time: 4 mins

The poor performance of the rand is an ongoing concern for investors. Gaining offshore exposure is a good way to mitigate against the risk that a weak rand...

Capital: Can companies have too much of a good thing?

By Rob Perrone on 17 May 2019

reading time: 6 mins

In the centre of London, there is a market whose history stretches back to the first century. Built on the site of a Roman forum, Leadenhall was once the...

Orbis: Hunting for value

By Alec Cutler on 29 Apr 2019

reading time: 10 mins

Buying cheap stocks and selling them for a profit sounds like a reasonable way to make money. But there’s a bit more to it when it comes to the way we invest...

Orbis: Can you be patient and excited at the same time?

By Radhesen Naidoo on 05 Apr 2019

reading time: 6 mins

As contrarian investors who invest differently, periods of underperformance are part of the investment cycle and, while disappointing, they can offer...

Allan Gray-Orbis rand-denominated offshore unit trusts open; living annuity offshore limits removed

By Tamryn Lamb on 28 Mar 2019

reading time: 3 mins

After a review of our offshore asset exposures, we are pleased to announce that we have reopened the Allan Gray-Orbis rand-denominated offshore unit trusts f...

Orbis: Key detractors from recent performance

By Radhesen Naidoo on 08 Mar 2019

reading time: 5 mins

Periods of underperformance are stressful and disappointing, and while they are an expected part of the investment cycle for us as a contrarian manager, we...

Orbis: Positioning portfolios for long-term performance

By William Gray on 25 Jan 2019

reading time: 5 mins

William Gray, from our offshore partner, Orbis, reviews Orbis’s recent performance and discusses their investment approach in the current environment.

Simplifying offshore investing

By Julie Campbell on 25 Jan 2019

reading time: 11 mins

Over the years, South African exchange control regulations, which limit the amount that you can transfer or invest abroad, have been relaxed considerably. Th...

WATCH : The role of currency when investing offshore

By Dan Brocklebank on 09 Nov 2018

viewing time: 2 mins 30 seconds

If you buy a share in your local market, assessing your performance is easy. If the price goes up, you make money. If you buy shares in other markets, howeve...

WATCH : What is a good offshore strategy?

By Dan Brocklebank and Tamryn Lamb on 23 Oct 2018

viewing time: 1 min

Novice and experienced investors often ask the same question time and again: When is the best time to invest offshore?

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...

Offshore investing: Not a popularity contest

By Dan Brocklebank on 10 Aug 2018

reading time: 3 mins

There is no such thing as a ‘popular investment opportunity’. If it’s popular, then that popularity will already be reflected in the price you have to pay. A...

Orbis: How to balance risk and return in the current environment

By Alec Cutler on 30 Jun 2018

reading time: 10 mins

As we look at opportunities around the world, one thing seems clear – it is no time to be a hero. According to Alec Cutler, from our offshore partner, Orbis,...

Cloudy crystal ball

By Alec Cutler on 18 Jun 2018

reading time: 6 mins

Two years ago, our crystal ball was cloudy. Shares and commodity prices suffered a rout in early 2016, and markets were concerned that economies around the...

Adopt a global mind-set for long-term investment success

By Tamryn Lamb and Earl van Zyl on 15 Jun 2018

reading time: 6 mins

South African investors are fixated on the rand exchange rate, so much so that our currency movements act as a barometer of our nation’s mood: when the rand ...

Allan Gray-Orbis Global Fund of Funds update: Balancing risk and return

By Alec Cutler and Ashley Lynn on 22 May 2018

reading time: 4 mins

A large portion of the Allan Gray Orbis Global Fund of Funds (the Fund) is invested in the Orbis Global Balanced Fund. But what is a “balanced fund”? The...

Orbis Global Equity: Investing differently

By Matt Adams on 19 Apr 2018

reading time: 11 mins

Over the last five years, the median global equity manager has underperformed the MSCI World Index and many value-oriented global equity managers have done...

Do you need to rethink your offshore investment exposure?

By Earl van Zyl on 19 Apr 2018

reading time: 10 mins

Treasury’s decision to increase offshore investment limits for unit trusts, investment managers and long-term insurers is great news for savers and their...

Currency matters

By Rob Perrone on 23 Mar 2018

reading time: 5 mins

Rob Perrone, from our offshore partner Orbis, discusses why exchange rates are a big deal, and how Orbis actively manages currency exposure in it funds...

Q&A: Orbis Global Equity Fund

By Tamryn Lamb on 09 Feb 2018

reading time: 9 mins

What are the names of the managers of the Orbis Global Equity Fund and where are they based...

The global opportunity set

By John Christy on 24 Jan 2018

reading time: 11 mins

Orbis does not invest in "the market". Instead, they focus entirely on finding the most compelling individual opportunities on offer. There's no better way t...

LISTEN : Will traditional car manufacturers be driven off the road by their electric counterparts?

By Tamryn Lamb on 01 Dec 2017

listening time: 10 mins

Investors in general are pessimistic about the autos sector. They are worried about earnings declines and the growth of electric cars, produced by the likes ...

Finding value in an over-valued world

By Ben Preston on 23 Nov 2017

reading time: 9 mins

Defensive shares are normally a safe place to “hide” when valuations look high, but Orbis is currently finding more opportunities among cyclical shares where...

What taxes do I pay when I invest offshore?

By Carla Rossouw on 17 Nov 2017

reading time: 6 mins

Investing offshore allows you to diversify and benefit from a broader universe of investment ideas, but what about the tax you may have to pay?As with any...

Emerging market equities: looking beyond the mega-caps

By Woojin Choi on 24 Oct 2017

reading time: 7 mins

Our offshore partner Orbis launched an Emerging Markets Equity Strategy in January 2016. Later that year it broadened the mandate of its Asia ex-Japan Equity...

Orbis: Tech can be contrarian - if the price is right

By Rob Perrone on 26 Sep 2017

reading time: 5 mins

We are contrarian investors, and technology shares are often popular. Given that, you might expect us to shun them. At times, we have: when tech stocks trade...

Global jitters: Avoid safe havens, opportunity in overlooked sectors

By Dan Brocklebank on 15 Sep 2017

reading time: 5 mins

The uncertain global political and economic backdrop created by unexpected recent shocks has spooked investors. However fear, particularly when spurred by...

Tech stocks: Is history repeating itself?

By Ben Preston on 20 Jul 2017

reading time: 8 mins

To cut through the suspense, let me admit up front that I’m not going to answer the question directly: we don’t find it productive to spend a lot of time...

WATCH : Key buckets of opportunities

By Tamryn Lamb on 29 Jun 2017

viewing time: 1 min

In our search for undervalued assets we have found companies that fit into five categories...

WATCH : Why the classic 60/40 is dangerous

By Matthew Spencer on 19 Jun 2017

viewing time: 1 min

Sixty percent equities and forty percent bonds has become such a standard for “moderate risk” that any other allocation raises eyebrows...

How to pick offshore investments for long-term wealth creation

By Matthew Spencer on 19 Jun 2017

reading time: 7 mins

Living in South Africa, or even as a South African living abroad, it’s easy to become completely sucked into the news about our country...

Orbis: Two myths about emerging market equities

By Graeme Shaw on 15 Jun 2017

reading time: 6 mins

At the end of 2015, emerging market (EM) shares had meaningfully underperformed developed market (DM) shares over the previous five years...

Orbis: Are there any bargains out there?

By William Gray and Jeremie Teboul on 31 Mar 2017

reading time: 10 mins

Since 1990, the Orbis Global Equity Fund’s investment mandate has been to seek higher returns than the average of the world’s equity markets, without greater...

Beware the siren song of growth

By Dan Brocklebank on 03 Mar 2017

reading time: 5 mins

Growth has an almost irresistible allure for investors. Whether it’s a rapidly growing economy, a start-up with a hot new product, or a new industry that...

Global perspective: Do value shares deserve to be this cheap?

By Alec Cutler on 31 Dec 2016

reading time: 7 mins

The Orbis Global Balanced Fund aims to balance capital appreciation and income generation with the associated risk of its investments. These objectives...

LISTEN : Protect your buying power by investing offshore

By Richard Carter on 30 Dec 2016

listening time: 14 mins

We are all fixated on the rand-dollar exchange rate and what it will do next, but does it really affect our day-to-day? And what can you do about it? Listen ...

Something’s got to give...

By Simon Mawhinney on 09 Dec 2016

reading time: 4 mins

Recently companies in Australia that have grown their earnings and paid large dividends have been well rewarded. But is this sustainable?

Orbis: Not just looking for cheap stocks

By Jeremie Teboul on 07 Oct 2016

reading time: 5 mins

Our investment approach, which we share with our offshore partner Orbis, is sometimes characterised as ‘looking for cheap stocks’. Jeremie Teboul from Orbis...

Pursuing long-term returns without simply reaching for risk

By Ben Preston and Maurits Ovaa on 30 Sep 2016

reading time: 7 mins

Ben Preston and Maurits Ovaa explain why Orbis believes minimising losses is arguably more important than maximising gains at a time when many stock markets ...

WATCH : Should you invest offshore at R15/US$?

By Tamryn Lamb on 01 Aug 2016

viewing time: 1 min

It is exceptionally difficult to decide when is the best time to invest offshore based on news headlines. If you want to get more for what you pay, investing...

XPO Logistics: Diversification through owning both shares and bonds

By Ashley Lynn and Matt Adams on 30 Jun 2016

reading time: 7 mins

Forming contrarian views about the intrinsic value of companies is the core of what we do. In the Orbis Global Balanced Fund, this fundamental company resear...

Broaden your horizons with offshore investments

By Tamryn Lamb on 14 Jun 2016

reading time: 4 mins

It is natural to feel uneasy about your finances during times of uncertainty. However, one should be wary of making decisions based on short-term events. The...

Playing a loser's game

By William Gray on 31 Mar 2016

reading time: 7 mins

The loser’s game isn’t especially fun to play, but it is a winning strategy for those who have the discipline and the patience for it. William Gray, from our...

Discipline is key

By Graeme Forster and John Christy on 31 Dec 2015

reading time: 9 mins

The Orbis Global Equity Fund (the Fund) lagged the MSCI and FTSE World Indices in 2015, extending a period of underperformance that began in early 2014. As...

Orbis: Buying carefully in indiscriminate selloffs

By Tamryn Lamb on 24 Dec 2015

reading time: 5 mins

Periods of short-term underperformance are a price we must pay for seeking superior long-term returns. The third quarter certainly qualified as one of those...

Contrarian investing and different performance

By Mahesh Cooper on 30 Sep 2015

reading time: 8 mins

The valuation-based approach to investing used by Allan Gray and our offshore partner Orbis is often contrarian since the shares that are most attractively...

Valuation dispersion and opportunities to beat the market in Australia

By Julian Morrison and Werner du Preez on 30 Sep 2015

reading time: 9 mins

Cyclicality and dispersion in valuations can create great opportunities to buy shares at very attractive prices in companies that are out of favour with the...

A tale of two crises

By Tamryn Lamb on 24 Aug 2015

reading time: 8 mins

Greece and China have dominated financial headlines since March. With fear running high, we try to remain focused on the relationship between the price and...

The case for active management

By Matt Adams and Adam Karr on 30 Jun 2015

reading time: 9 mins

It is popular these days to talk about how difficult the past several years have been for active managers. In a sense, however, active management is always...

Orbis Global Equity: Guided by our investment philosophy

By Graeme Forster on 31 Mar 2015

reading time: 8 mins

This piece was originally published in the Orbis March 2015 Quarterly Manager's Report. Over the 25-year history of Orbis' Global Equity Fund, the underlying...

Orbis Funds: Reflecting on 2014 and looking ahead

By Graeme Forster on 31 Dec 2014

reading time: 11 mins

This piece was originally published in the Orbis December 2014 Annual Manager's Report. In 2014, Orbis identified several new opportunities, including select...

The same contrarian approach from Cape Town to Canberra

By JD de Lange and LJ Collyer on 30 Sep 2014

reading time: 7 mins

Being 'contrarian' is about culture and about behaviour, and the outcome is reflected in portfolios that are different from the market. LJ Collyer and JD de...

Orbis funds: Finding the best long-term value for clients

By Seema Dala on 30 Sep 2014

reading time: 8 mins

The Orbis Global Equity Fund will mark its 25th year at the end of December. In that time, Orbis has provided access to the same fundamental, contrarian,...

Orbis Global Balanced Fund: Balancing risk and reward

By Alec Cutler on 30 Jun 2014

reading time: 8 mins

Orbis has launched a new global multi-asset fund – the Orbis Global Balanced Fund. The Fund has been registered for marketing in South Africa and is now...

Introducing the Orbis Global Balanced Fund

By Tamryn Lamb on 22 May 2014

reading time: 7 mins

Like Allan Gray, Orbis has a limited range of funds which it believes addresses the needs of most investors. New funds are only introduced after very careful...

How to access investment opportunities in Asia

By Seema Dala on 31 Mar 2014

reading time: 7 mins

Asia presents interesting investment opportunities, but for the average investor, researching these opportunities would be a massive undertaking fraught with...

Finding value in global markets

By Seema Dala on 31 Mar 2014

reading time: 10 mins

Emerging markets have come under intense focus so far this year and while the main worries have centred on countries such as Argentina and Turkey, the market...

Accessing foreign investment opportunities

By Richard Carter and Johann Grandia on 04 Feb 2014

reading time: 7 mins

South African foreign exchange controls limit the amount unit trusts can invest overseas to 35% of retail assets under management, collectively. Available...

Hunting for compelling opportunities in the current environment

By Adam Karr on 31 Dec 2013

reading time: 8 mins

2013 was a good year for global stock markets. The FTSE World Index returned 24.7% in US$ terms since the start of 2013 and is near an all-time high. The Orb...

Access global investment opportunities via our offshore platform

By Johann Grandia on 30 Sep 2013

reading time: 6 mins

We understand that many investors are keen to invest offshore but neglect to do so as they find it too daunting. Johann Grandia discusses some of the...

Orbis Global Equity Fund: A reversal of fortunes

By Seema Dala on 30 Sep 2013

reading time: 8 mins

After a prolonged period of relative underperformance, since January this year the Orbis Global Equity Fund has meaningfully outpaced its benchmark in US...

Equity opportunities down under

By JD de Lange and LJ Collyer on 30 Jun 2013

reading time: 8 mins

Last quarter, Seema Dala wrote about the importance of diversifying your portfolios by investing offshore. Australia is definitely offshore from South Africa...

Do not confuse stability with safety

By Ben Preston on 30 Jun 2013

reading time: 8 mins

According to Ben Preston, from our offshore partner Orbis, Orbis and Allan Gray's strict adherence to our bottom-up research process keeps us focused on...

Adding fund ratings to our Offshore Platform

By Jeanette Marais on 24 May 2013

reading time: 5 mins

The vast selection of fund managers and offshore unit trusts available globally makes offshore investing daunting even for more experienced investors and...

Investing offshore to reduce portfolio risk

By Seema Dala on 31 Mar 2013

reading time: 8 mins

Five years on from the start of the Global Financial Crisis, as economic uncertainty continues across the world, investors remain sceptical about exposing...

Drilling into the detail of oil and gas investments

By Dan Brocklebank on 31 Dec 2012

reading time: 11 mins

At first glance, the Orbis Global Equity Fund's exposure to Oil & Gas; Gas stocks appears to be similar to that of its benchmark. At December 2012, about 9% ...

A healthy approach

By Seema Dala and Tamryn Lamb on 30 Sep 2012

reading time: 11 mins

Broadly speaking, one could think about building a portfolio in two key ways. Investors with a 'top-down' approach start with a wide view of the world and ma...

Investing: a history of bubbles

By Jonathan Brodie on 30 Jun 2012

reading time: 9 mins

'Invest in stocks? Forget about it.' - USA Today headline, 8 May 2012. As contrarian investors, we cannot help but take notice when one of the most widely re...

High correlations present challenges

By Seema Dala and Chris du Toit on 31 Mar 2012

reading time: 8 mins

Actively managed funds, including the Orbis Global Equity Fund, have struggled to outperform the market over the past year. Actively managed funds are able t...

Things you can control, and things you cannot

By Trevor Black and Jonathan Brodie on 31 Dec 2011

reading time: 8 mins

In this current very uncertain world, we cannot begin to control or predict political or economic outcomes. But we can control what shares we buy and we are...

Understanding your offshore investment options

By Jeanette Marais on 30 Jun 2011

reading time: 8 mins

On top of making investment decisions, there are various practical options to choose from when investing offshore. Exchange controls are currently a constrai...

Japan: economic pessimism creates buying opportunities

By Trevor Black and Ben Preston on 30 Jun 2011

reading time: 8 mins

As bottom-up stock pickers, we believe that great investment opportunities can be found in even the most challenging conditions. Japan is a perfect example....

Responding to challenging times

By Henry Allen and Trevor Black on 31 Dec 2010

reading time: 8 mins

Performance does not come in a straight line, which means that periods of long-term outperformance will always be accompanied by periods of, sometimes...

When is bad news good news?

By Chris du Toit and Tamryn Lamb on 30 Sep 2010

reading time: 8 mins

As contrarian investors we are always on the lookout for shares that we can buy at a significantly lower price than we believe they are worth. Thus, with ban...

The story is in the stocks

By Jonathan Brodie and Trevor Black on 30 Jun 2010

reading time: 8 mins

Investors who give their money to professional managers to invest still wish to remain informed about what their managers are thinking and how therefore they...

Launch of the Allan Gray-Orbis Global Optimal Fund of Funds

By Richard Carter on 31 Mar 2010

reading time: 8 mins

Allan Gray introduced its third rand-denominated offshore fund on 1 March 2010 bringing the total number of unit trusts to nine. The Allan Gray-Orbis Global...

Tough to be different

By Jonathan Brodie and Trevor Black on 31 Dec 2009

reading time: 8 mins

In the Q2 Quarterly Commentary, Jonathan Brodie and Trevor Black of Orbis discussed the fact that long-term outperformance requires a partnership between the...

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