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Articles tagged as "BAT"

The year of payback

By Duncan Artus on 15 Feb 2019

Excess returns from the FTSE/JSE All Share Index (ALSI) relative to cash have disappointed over the last five years, with cash now outperforming, on average....

Equity Fund update: Taking a look at British American Tobacco

By Ruan Stander on 08 Feb 2019

2018 was a disappointing year for South African equity investors, with the FTSE/ JSE All Share Index returning -9%. The good news is that based on our resear...

The global opportunity set

By John Christy on 24 Jan 2018

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...

Balanced Fund update: What is a 'high-quality' company?

By Jacques Plaut on 28 Oct 2016

The Fund’s performance over the past quarter was helped by overweight positions in Standard Bank and Impala Platinum, and by underweight positions in SABMill...

How 'active' is your manager?

By Fiona Jeffery on 30 Jun 2014

Regular readers of our commentaries will know that we follow a valuation-based investment philosophy. At the same time, we are not afraid of investing contra...

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