Orbis

Orbis Investment Management was founded in 1989 by Allan Gray and is headquartered in Hamilton, Bermuda. It is part of the wider Orbis and Allan Gray group, whose controlling interest is held by the Allan & Gill Gray Foundation.

The firm manages equity, multi-asset and absolute-return strategies for institutional and private investors. Its investment teams are based primarily in London, San Francisco and Hong Kong, while Bermuda is the main centre for portfolio management and fund trading.

Orbis is especially associated with bottom-up, fundamental research, long holding periods and contrarian stock selection. Its refundable performance-fee structure places performance fees into a reserve that can be returned to clients after subsequent underperformance, linking the firm’s economics more directly to long-term investment results.