Orbis in Australia
While Orbis has a distinct and enduring investment philosophy, it does not fit squarely into any of the popular
categories of investment style. Our philosophy is not about investing in high or low growth, big or small, or
strong or weak companies. Instead, we aim to invest in companies whose share prices do not reflect the intrinsic
value of the underlying business.
While this investment philosophy remains constant, the type of companies whose shares we consider undervalued does
change over time. At times, we find opportunities in high growth companies and at other times in low growth
companies; depending on the prevailing investment consensus and whether we believe true value is being overestimated
or underestimated. Portfolio holdings are concentrated in the shares of companies whose prospects are currently most
underestimated by investors. So, while we are not contrarian for the sake of it, Orbis' portfolios are consistently
exposed to stocks that other investors consider are deteriorating or are worse than average.
In summary, we are best described as contrarian, value-oriented managers investing for the long term.
- Contrarian
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We often find that the shares we are attracted to are disliked by others and that we are unlikely to find great
investments in areas that other investors are excited about.
- Value-oriented
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We are not "value" managers in the sense of buying only stocks with low price/earnings ratios or avoiding
companies with high growth. Rather, we focus on intrinsic value and buy shares which are selling at low prices,
relative to their intrinsic value.
- Long term
-
Because we believe it can take time for a company's intrinsic value to be fully reflected in its share price,
we typically adopt a three to five year time horizon in our research and our funds tend to buy and hold.
Through Orbis Australia you have direct access to Orbis' Global and specialist Australian equity
investment expertise.
Contact Orbis in Australia
Background information on the Orbis Group can be found on the Orbis Funds web site.
Visit the Orbis Funds web site