Morningstar Fund Report  | 07/04/2025Print

Orbis OEIC Global Equity Fund Standard Share Class

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Orbis OEIC Global Equity Fund Standard Share Class
Fund10.60.016.014.60.5
+/-Cat-7.49.33.20.34.3
+/-B’mrk-9.17.70.7-4.74.8
 
Category: Global Large-Cap Blend Equity
Category Benchmark: Morningstar Global TME NR USD
Key Stats
NAV
04/04/2025		 GBP 27.15
Day Change -3.69%
Morningstar Category™ Global Large-Cap Blend Equity
IA (formerly IMA) Sector Global
ISIN GB00BJ02KW01
Fund Size (Mil)
04/04/2025		 GBP 266.45
Share Class Size (Mil)
04/04/2025		 GBP 258.11
Max Initial Charge -
Ongoing Charge
18/01/2024		  -
Morningstar Research
Analyst Report23/05/2024
David Little, Senior Analyst
Morningstar, Inc

Orbis Global Equity retains an experienced senior team, but it significantly changed its portfolio management structure in early 2022 which recognised process-related issues around global ideas being appropriately captured and challenged. Its...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent24
Process23
Performance
Price
Investment Objective: Orbis OEIC Global Equity Fund Standard Share Class
The Fund seeks to deliver higher long-term returns than global stock markets, without taking on greater risk of loss. To meet this objective, the Fund is targeting outperformance of the long-term returns of its Benchmark, the MSCI World Index which measures the performance of some of the largest companies listed on stock exchanges around the world. In pursuing its investment objective, the Fund will invest primarily in shares of publicly listed companies, which may be located anywhere in the world and in any industry.
Returns
Trailing Returns (GBP)04/04/2025
YTD-5.05
3 Years Annualised8.42
5 Years Annualised14.81
10 Years Annualised10.07
12 Month Yield 0.00
Management
Manager Name
Start Date
Adam Karr
01/01/2014
Benjamin Preston
01/01/2014
Click here to see others
Inception Date
01/01/2014

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI World NR GBPMorningstar Global TME NR USD
Portfolio Profile for  Orbis OEIC Global Equity Fund Standard Share Class28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.290.0097.29
Bond2.670.002.67
Property0.000.000.00
Cash0.270.240.03
Other0.000.000.00
Top 5 Regions%
United States50.52
United Kingdom13.03
Asia - Developed10.34
Eurozone9.45
Japan6.99
Top 5 Sectors%
Technology22.68
Industrials20.69
Financial Services17.66
Communication Services11.17
Healthcare10.47
Top 5 HoldingsSector%
QXO IncTechnologyTechnology5.86
Corpay IncTechnologyTechnology5.30
Elevance Health IncHealthcareHealthcare4.85
Nintendo Co LtdCommunication ServicesCommunication Services4.42
Interactive Brokers Group Inc Cl... Financial ServicesFinancial Services3.81
Increase Decrease New since last portfolio
Orbis OEIC Global Equity Fund Standard Share Class
Growth Of 1000 (GBP) 31/03/2025
Fund:  Orbis OEIC Global Equity Fund Standard Share Class
Category:  Global Large-Cap Blend Equity
Category Index:  Morningstar Global TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-12.5018.7313.3610.60-0.0315.9714.600.55
+/- Category-5.79-0.312.77-7.459.313.210.334.27
+/- Category Index-8.99-2.831.10-9.067.680.72-4.694.83
% Rank in Category915828896295211
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-3.69   -0.79-0.05
1 Week-6.18   -0.731.61
1 Month-6.78   1.634.13
3 Months-7.14   1.435.97
6 Months-5.11   -0.212.99
YTD-5.05   2.826.63
1 Year-1.23   0.490.71
3 Years Annualised8.42   4.344.16
5 Years Annualised14.81   3.631.77
10 Years Annualised10.07   2.290.69
 
Category: Global Large-Cap Blend Equity
Category Index: Morningstar Global TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20250.55---
202411.41-1.183.300.77
20231.573.515.614.45
2022-2.31-4.791.356.04
20216.084.38-0.990.88
2020-18.6222.091.2612.67
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighAbove Average5 star
5-YearHighAbove Average5 star
10-YearAbove AverageHigh4 star
Overall*HighHigh5 star
 
Category :  Global Large-Cap Blend EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev12.64 %
3-Yr Mean Return11.86 %
 
3-Yr Sharpe Ratio0.58
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Global TME NR USD  Morningstar Gbl Val TME NR USD
3-Yr Beta0.971.09
3-Yr Alpha3.422.61
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 26153-
Market Capitalisation% of Equity
Giant25.65
Large27.22
Medium29.85
Small16.17
Micro1.10
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.900.66
Price/Book1.650.49
Price/Sales1.300.52
Price/Cash Flow10.880.79
Dividend-Yield Factor2.631.47
 
Long-Term Projected Earnings Growth9.160.91
Historical Earnings Growth5.940.58
Sales Growth-15.50-2.89
Cash-Flow Growth-13.96-2.40
Book-Value Growth5.820.74
 
Category: Global Large-Cap Blend Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.290.0097.29
Bond2.670.002.67
Property0.000.000.00
Cash0.270.240.03
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States50.520.73
Canada1.320.57
Latin America2.308.26
United Kingdom13.032.92
Eurozone9.451.00
Europe - ex Euro3.020.65
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan6.991.44
Australasia0.000.00
Asia - Developed10.345.02
Asia - Emerging3.022.48
 
Category: Global Large-Cap Blend Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials2.250.75
Consumer CyclicalConsumer Cyclical2.550.24
Financial ServicesFinancial Services17.661.04
Real EstateReal Estate1.110.60
Consumer DefensiveConsumer Defensive5.190.91
HealthcareHealthcare10.470.89
UtilitiesUtilities1.500.76
Communication ServicesCommunication Services11.171.31
EnergyEnergy4.741.92
IndustrialsIndustrials20.692.01
TechnologyTechnology22.680.84
 
Category: Global Large-Cap Blend Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings72
Total Number of Bond Holdings4
Assets in Top 10 Holdings38.58
NameSectorCountry% of Assets
QXO Inc311United States5.86
Corpay Inc311United States5.30
Elevance Health Inc206United States4.85
Nintendo Co Ltd308Japan4.42
Interactive Brokers Group Inc Class A103United States3.81
Alphabet Inc Class A308United States3.59
Taiwan Semiconductor Manufacturing Co... 311Taiwan3.36
Microchip Technology Inc311United States2.62
Global Payments Inc310United States2.45
GXO Logistics Inc310United States2.32
 
Increase Decrease New since last portfolio
Category: Global Large-Cap Blend Equity
 
Management
Name of CompanyOrbis Investment Management Limited
Phone1 (441) 296-3000
Websitehttps://www.orbis.com/international/institutional/home
AddressOrbis House 25 Front Street
 Hamilton   HM11
 Bermuda
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date01/01/2014
Fund Advisor(s)
Orbis Investment Management Limited
Fund ManagerAdam Karr
Manager Start Date01/01/2014
Career Start Year1993
 
Biography
Bachelor of Arts in Economics (Northwestern University), Master of Business Administration (Harvard University). Adam is Orbis’ President and head of the investment teams. He directs client capital in the Orbis Global Equity and Orbis US Equity Strategies, and has overall accountability for both. Adam joined Orbis in 2002 and is a Director of Orbis Holdings Limited and Orbis Allan Gray Limited. He is a trustee at Northwestern University and the Founder and Chair of SEO Scholars San Francisco. He previously worked as a partner at Palladium Equity Partners and as a financial analyst at Donaldson, Lufkin & Jenrette.
Fund ManagerBenjamin Preston
Manager Start Date01/01/2014
Career Start Year1999
 
Biography
Master of Arts (Honours) in Mathematical Sciences (University of Oxford), Chartered Financial Analyst. Ben joined Orbis in 2000. He is a Director of Orbis Holdings Limited and directs client capital in the Orbis Global Equity Strategy. Ben previously worked at Barclays Private Investors.
Fund ManagerNick Purser
Manager Start Date01/01/2014
Career Start Year1996
 
Biography
Master of Arts in Management Studies (University of Cambridge), Master of Philosophy in Economics (University of Oxford), Chartered Financial Analyst. Nicholas joined Orbis in 1996 following completion of his degrees. Based in London, he leads the team of currency analysts and is responsible for currency management in the Orbis Global Equity Strategy.
Fund ManagerGraeme Forster
Manager Start Date01/05/2022
Career Start Year2007
 
Biography
Master of Arts (Honours) in Mathematics (University of Oxford), Doctor of Philosophy in Mathematical Epidemiology and Economics (University of Cambridge), Chartered Financial Analyst. Graeme joined Orbis in 2007 and is a Director of Orbis Holdings Limited. He directs client capital in the Orbis Global Equity Strategy, and he has overall accountability for the Orbis International Equity and Optimal Strategies.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Chargen/a
Ongoing Charge-
Purchase Details
Minimum Investments
Initial1  GBP
Additional1  GBP
Savings-
Tax Free Savings Schemes
ISAsYes