In The News

All Articles About Orbis Access

The value of your investments may go down as well as up, so you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results.

November 2017
The FCA’s search for value for money
Money Marketing
24 November 2017

Orbis Director Dan Brocklebank comments that many fee structures are in need of radical reform and notes that overly focussing on costs instead of value-for-money and incentive structures may fail to deliver real change for investors.

When should you sell an investment
Shares Magazine
23 November 2017

Orbis Director Dan Brocklebank observes that having a long-term horizon can give you a competitive advantage over short-term minded investors. He notes that while Orbis analysts will pursue shares that may see their valuations rise in the near-term, they hold stocks for an average of 3.5 years before selling.

The top performing emerging market funds in 2017 that haven’t relied on the index
FE Trustnet
22 November 2017

Orbis analyst Woojin Choi says that emerging market shares’ outperformance this year can largely be attributed to a handful of ‘mega-cap’ stocks and that it has been difficult to generate superior relative returns without being overweight those large index constituents.

The global funds that have best weathered up and down markets
20 November 2017

FE Analytics reveals the IA Global funds that have the best track records in navigating positive and negative market conditions.

Balancing the fees in active funds
FT Adviser
8 November 2017

Orbis Director Dan Brocklebank notes that Fidelity’s announcement that it will introduce a performance-based fee is a step in the right direction to promoting better alignment of interests between fund managers and their clients.

October 2017
FCA urged to allow funds to ‘pay to play’ on platforms
FT Adviser
19 October 2017

The FCA’s review of investment platforms is a step in the right direction to improving the fund distribution chain. Orbis Director Dan Brocklebank believes that by charging fund managers a reasonable listing fee, investment platforms would cover their costs while also allowing managers of all sizes to compete for investor capital on a level playing field.

Star fund managers’ sporting odds
FT Adviser
18 October 2017

Orbis director Dan Brocklebank says that while ‘star’ fund managers work well from a marketing perspective, they might not be best for investors’ long-term returns. He believes that a well-structured team approach can provide both longevity and the specialisation that drives peak investment performance.

Leap of faith: will performance fees restore trust in active managers?
Money Marketing
12 October 2017

Orbis director Dan Brocklebank applauds Fidelity’s move to launch performance-based fees as it shows that the industry is waking up to the fact that too many investors are paying for mediocre performance—or worse.

When defensive shares are no longer defensive
Money Observer
10 October 2017

Orbis investment counsellor Rob Perrone explains that mature bull markets often offer “defensive” shares at reasonable prices, but not this time. With rich valuations and unfavourable exposure to high interest rates, defensives look anything but.

Why Miton US duo are wary of Amazon, Google and Facebook
FT Adviser
10 October 2017

Orbis analyst Ben Preston argues that price, rather than growth prospects, is the decisive factor in whether a company is a smart investment. On that basis, he notes that some leading technology companies may be great businesses, but not great investments.

Fidelity’s new fee structure tests active industry
Financial Times
6 October 2017

As news of Fidelity’s new performance-based fee sent shockwaves through the active management industry, the author notes that Orbis is one of a handful of fund managers that have used innovative fee structures to link manager pay to the performance clients receive.

Here’s to zero fund fees
6 October 2017

New fee structures can ensure managers have skin in the game, so that client performance is their top priority. Orbis does this by offering clients refunds if its funds underperform their benchmarks.

Fidelity earns kudos from sector peers
What Investment
6 October 2017

Orbis director Dan Brocklebank praised Fidelity’s performance fee announcement as an effort to align their interests with clients. He noted, “Truly symmetric performance based fee models such as the Orbis refundable fees, which have been available to UK retail investors since 2014, achieve this.”

Does Fidelity’s move to performance-linked fund fees make it a shrewd pioneer or a big risk-taker? The active versus passive investing war explained
This is Money
5 October 2017

Orbis director Dan Brocklebank is confident that performance-linked fee models will appeal to retail investors. He cites the success Orbis’ fee structure, that rewards the manager when it outperforms and refunds money when it underperforms, has had with institutional investors, “Our clients appreciate the alignment of interest it creates between us and them.”

Active fund managers start to fight back
Financial Times
4 October 2017

Given that passive funds’ main advantage is that they are low cost, we would expect active managers to push for fairer fees. Orbis has sought to align interests with those of their investors so that the firm’s success depends on the funds beating their benchmark.

Fidelity International to link fees to performance in overhaul
Financial Times
3 October 2017

Orbis director Dan Brocklebank welcomes Fidelity’s announcement that it will introduce a performance-based fee. He views it as a step in the right direction to promoting better alignment of interests between fund managers and their clients.

Disruptor or unwelcome complexity? Industry responds to Fidelity fee shake-up
Investment Week
3 October 2017

Fidelity’s response to industry demands for new thinking on fees can only be good news for investors, particularly if more participants step forward to raise the quality of the debate around fair fee structures, says Orbis director Dan Brocklebank.

Fidelity’s new fee structure tests active industry
Institutional Investor
3 October 2017

While Fidelity’s new performance-based fee is sure to amplify the debate on fair fee structures, it isn’t the first of its kind. Orbis has been offering institutional investors a performance-based fee that pays refunds to investors when it underperforms since 2004.

With his stock up 330%, a serial dealmaker seeks his biggest hit yet
2 October 2017

Orbis director Adam Karr observes that as XPO’ Logistics’ profile grows, a company that has surged on the back of shrewd acquisitions will itself become an acquisition target for the industry’s leaders.

September 2017
Orbis’s Brocklebank: The problems with star fund managers
Fund Strategy
27 September 2017

Orbis Director Dan Brocklebank says that while ‘star’ fund managers work great from a marketing perspective, they might not be best for investors’ long-term returns. He believes that a well-structured team approach can provide both longevity and the specialisation that drives peak investment performance.

Are investors wrong to snub FANG stocks?
FE Trustnet
19 September 2017

Technology shares’ strong performance has left investors worried that the boom-bust cycle is repeating itself. Orbis Director Dan Brocklebank warns against panic, observing that today’s largest tech stocks are very different businesses than those of the dotcom era—with potentially greater staying power.

Fresh calls for FCA platform changes
FT Adviser
19 September 2017

The FCA’s review of investment platforms is a step in the right direction to improving the fund distribution chain. Orbis Director Dan Brocklebank believes that by charging fund managers a reasonable listing fee, investment platforms would cover their costs while also allowing managers of all sizes to compete for investor capital on a level playing field.

Evolution in retail: survival of the fittest
Money Observer
8 September 2017

Orbis analyst Ben Preston explains that retail is not a sector where trends are fleeting, so the explosive growth of e-commerce players is likely here to stay. But he cautions investors not to jump on-board blindly; instead they should focus on the merits of individual businesses.

PA Analysis: Hey, fund selectors—where’s the value add?
Portfolio Adviser
6 September 2017

Orbis Director Dan Brocklebank says that fund selectors should go beyond quantitative factors when evaluating managers. He says more attention should be paid to criteria that shed light on a firm’s incentives, like whether a manager invests alongside clients on the same terms and its ownership structure.

August 2017
Is the technology-based investment boom about to bust?
Adviser Business Review
31 August 2017

Orbis analyst Ben Preston observes that it is understandable that technology shares’ strong performance has left investors concerned that history—and a boom-bust cycle—is repeating itself. He cautions against panic however, observing that today’s largest tech stocks are very different businesses than those of the dotcom era and may experience greater and longer-lasting dominance.

Why fresh thinking is needed on investment fees
FT Adviser
22 August 2017

Orbis Director Dan Brocklebank believes that fund management fees are ripe for new thinking. He argues that performance fees’ flawed designs in the past shouldn’t prevent the industry from embracing future innovations and well-designed performance fee structures can improve the alignment of interests between investment managers and their clients.

Questor: yes, this unknown Latin American firm really could be the next Amazon
The Telegraph
16 August 2017

Orbis analyst Ben Preston notes that Mercadolibre, Latin America’s e-commerce giant, benefits from a network effect, where consumers flock to the platform with the greatest selection of goods, and suppliers looking to reach them have no reason to take their business elsewhere.

Active management stages a comeback
Financial Times
13 August 2017

Orbis Director Dan Brocklebank warns that a market downturn in the next three to five years could deal a painful blow to passive investors, while active funds, which take differentiated views, may be in a better position to navigate volatile times.

July 2017
Active fund price war? Don’t hold your breath
Money Observer
31 July 2017

The failure of the active fund management industry to lower fees or offer improved value-for-money has continued to push investors towards cheaper passive investments. However, a small number of firms—which includes Orbis—have looked for innovative fee structures that can work better for clients.

Should you pay a fund manager more if they beat the market?
This is Money
19 July 2017

Orbis analyst Ben Preston argues that performance fees that can be refunded work in the clients’ best interests.

FE Alpha Manager Cutler: The oil stock we’re backing in the low price environment
FE Trustnet
18 July 2017

Orbis director Alec Cutler says that even if there is a prolonged downturn in oil prices, some companies in the industry can still do well if they drive down costs dramatically. He believes oil giant BP is one such company.

Important role for well designed fee structures
Financial Times
14 July 2017

Orbis Director Dan Brocklebank explains that well-designed performance fee structures can improve the alignment of interests between investment managers and their clients. He argues that performance fees’ flawed designs in the past shouldn’t prevent the industry from embracing future innovations.

Best mixed asset funds: Money Observer Fund Awards 2017
Money Observer
3 July 2017

The Orbis Global Balanced Fund has been named the best higher risk mixed asset fund by Money Observer. The award is selected primarily on the basis of the fund’s performance over the last three years, but it is also a vote of confidence for the future, as the judges look at other factors to evaluate whether stellar performance can be maintained over the long-term.

June 2017
U.K regulator rips fund firms in scathing review
Institutional Investor
28 June 2017

Orbis director Dan Brocklebank applauds the FCA’s efforts to better align managers’ interests with those of their clients, but believes its focus should be on better enforcement of existing rules rather than introducing new ones.

The time has come for innovative fund fees
Wealth Manager
27 June 2017

Orbis Director Dan Brocklebank argues that it is time for the asset management industry to acknowledge ‘inconvenient truths,’ including that every manager has a capacity threshold beyond which performance will inevitably suffer.

Asset managers are braced ahead of final industry report from City watchdog
City A.M.
25 June 2017

Orbis Director Dan Brocklebank believes the FCA is right to shine a bright light on active management fees and should promote better alignment of interests between managers and their clients.

Orbis Investments: target the micro for solid investment returns
Portfolio Adviser
23 June 2017

Orbis investment analyst Ben Preston argues that investors are best-served focussing on long-term company fundamentals, rather than news headlines. Putting this into practice, Ben analyses every stock with one question in mind: whether he would be pleased to own the business indefinitely.

A complex system
FE Trustnet
20 June 2017

Orbis investment analyst Betsy Lind argues that investor fears about regulation and competition in the US health care space can create attractive opportunities for investors willing to take a contrarian and long-term view.

Orbis’ Brocklebank: the problem with asset gathering
Fund Strategy
13 June 2017

Orbis Director Dan Brocklebank believes that much of the asset management’s industry’s reputational damage has been self-inflicted and is attributable to poorly-designed incentives for fund managers.

May 2017
Fund manager woos advisers with radical fee structure
Ft Adviser
30 May 2017

Despite a 27-year track record, Orbis is a relative newcomer to UK retail investors and the advisers who direct a large portion of their investments. Director Dan Brocklebank explains that by only charging a performance fee, the firm is offering investors a radically different fee structure to the vast majority of funds available.

Elliot secures 3 board sets at Arconic
22 May 2017

After a contentious dispute over Arconic’s leadership resulted in the resignation of its CEO Klaus Kleinfeld, all eyes were on shareholder meeting in which open board seats would be filled. Activist investment firm Elliott has pushed for a radical shake-up of the company and secured board seats for three of its nominees, which received Orbis’ support.

Investors eye impact of big mergers on boutiques
FT Adviser
9 May 2017

Amid a spate of high-profile mergers in the financial services sector, Orbis director Dan Brocklebank believes that smaller fund management firms, particularly those with a commitment to delivering strong investment returns, will benefit from industry consolidation.

On the hunt for a margin of safety
Professional Adviser
3 May 2017

Orbis investment analyst Jeremie Teboul observes that nine years into a bull stockmarket attractive opportunities are challenging to find and carefully avoiding capital loss may be the main focus for long-term investors.

April 2017
Orbis’ Lynn: Why 60/40 funds are better left in the 1950s
Investment Week
25 April 2017

Orbis’ Ashley Lynn argues that the traditional ‘60/40’ allocation between equities and bonds no longer works in the current environment. Central banks’ quantitative easing efforts, which were intended to boost economic growth, have caused stocks and bond prices to run to record highs in unison, thereby breaking the historically negative correlation between them.

Fund managers raise the stakes on performance fees
Financial News
24 April 2017

Pressure has mounted on investment managers who often charge high fixed fees for lacklustre performance. Orbis director Dan Brocklebank says that he expects performance fees to become increasingly prevalent as clients demand value-for-money from managers.

Investor Views: “how do I get my children to save?”
19 April 2017

Michael Giess used to opt for cash ISAs, but felt that with interest rates so low it was time to turn his focus to investing. One of his priorities was to start saving for his two teenage children, and upon a recommendation from a relative, he set up an Orbis Junior ISA for each child.

Kleinfeld’s rogue response seals fate as Elliot prods Arconic
18 April 2017

Upon news of Aronic CEO Klaus Kleinfeld’s departure, Orbis, a large shareholder, commented that the company’s board had demonstrated “a pattern of poor judgment and intolerable behavior that can’t be redeemed by their reluctant decision to finally remove Klaus Kleinfeld.”

How the power of the pen caused Klaus Kleinfeld’s downfall
Financial Times
18 April 2017

Orbis argued that the actions of Arconic’s board in support of former CEO Klaus Kleinfeld were “an insult to good corporate governance and bring even greater urgency to the need for new leadership at Arconic.”

Inside the activist battle that felled Arconic’s Klaus Kleinfeld
Wall Street Journal
17 April 2017

After a contentious battle with shareholders who wanted a leadership change at Arconic, the company announced Klaus Kleinfeld’s departure as CEO. Orbis believed that Arconic could not realise its true value under Kleinfeld’s direction and was therefore supportive of his removal.

Investor views: “I’m investing for my 4-year old twins.”
4 April 2017

David Parkinson has invested for his twins’ future by opening Junior ISAs for both of them. Choosing a fund is no easy task, but he opted for the Orbis Global Equity Fund. He was attracted to its fee structure, which means that investors only a pay a performance fee if the Fund outperforms its benchmark.

Pessimism over emerging markets may be unwarranted
FT Adviser
3 April 2017

Orbis director Dan Brocklebank argues that investor sentiment on emerging market (EM) stocks may be overly pessimistic. He considers two reasons commonly cited for avoiding EMs—that they fare worse when the US raises interest rates and during developed world bear markets—and finds that neither is well-substantiated.

March 2017
Deal of the week: boost your ISA savings by up to £100 with Orbis Access
31 March 2017

Orbis’ ISA and Junior ISA promotion, whereby investments made into a stocks and shares ISA or JISA prior to 30 April are matched by a contribution up to £100, is featured as Moneywise’s ‘deal of the week.’

Orbis manager gambles on sterling recovery
FT Adviser
22 March 2017

Orbis portfolio manager Alec Cutler has taken a long position on the UK pound, while shorting the US dollar. He believes that the pound’s meaningful decline in value relative to the US dollar since Britain’s EU referendum has been excessive and presents an opportunity for long-term investors.

For better equity returns, focus on valuations—not economic growth
The Globe and Mail
14 March 2017

Orbis investment counsellor Chris Horwood discusses the tendency for many investors to chain economic growth. History suggests that investment returns actually don’t have much to do with economic growth, and investors are better-served focussing on company valuations.

Alec Cutler, who runs the $2.8bn Orbis Global Balanced fund, has revealed the reasons why he thinks now is a good time to be invested in gold
What Investment
10 March 2017

Orbis portfolio manager Alec Cutler contends that having some exposure to gold can put investors in a better position for a range of outcomes. By contrast, he believes attractively-priced bonds, and particularly government bonds, are very hard to come by.

Time for asset managers to feel their share of the pain
Professional Advisor
9 March 2017

Orbis director Dan Brocklebank argues that the conversation around hidden charges in the active management industry must extend to fee structures. Symmetrical fee structures are the only way to truly align the interests of managers and investors.

Active management: the triumph of hope over experience
Portfolio Institutional
3 March 2017

The Financial Conduct Authority’s (FCA) November 2016 Interim report shone a bright light on fees charged by active managers, concluding that, on average, they don’t provide investors with value for money. Orbis director Dan Brocklebank applauds the FCA’s efforts to expose—with the aim of improving—the industry’s “inconvenient truths.”

February 2017
The global funds boasting all the ‘right’ kinds of volatility over the last decade
FE Trustnet
27 February 2017

FE Trustnet looks at which global equity funds have been volatile over the last decade while protecting investors’ capital on the downside.

Investor views: “Don’t pay for a manager who hugs the index”
15 February 2017

Many investors pay their managers higher fees for products which are really index funds in disguise. Orbis’ performance-linked fee means that if the fund fails to beat its benchmark, investors pay no fee at all.

56 new FE alpha managers named in 2017 rebalance
FE Trustnet
13 February 2017

The FE Alpha Manager status is designated to the top 10% performing managers in the industry, which, this year, included Orbis’ Alec Cutler.

Arconic’s board resists activist calls to ditch chief Kleinfeld
Financial Times
6 February 2017

Arconic, the US-based metals and components company and a holding in the Orbis Funds, has resisted efforts by shareholders to oust its embattled CEO Klaus Kleinfeld. Orbis partner Adam Karr remarks that under Mr. Kleinfeld’s tenure, Arconic’s decision making has been poor and detrimental to shareholder value.

Growth, value, momentum and income investing: what is best?
Money Observer
3 February 2017

There is no ‘one size fits all’ in investing, and different investment strategies can be applied successfully. Orbis’ primary focus on identifying individual under-priced shares, has generated superior returns over the long-term.

The best funds in the worst sectors for alpha generation
FE Trustnet
2 February 2017

While funds focussed on specific sectors have earned the most success in the last decade, some global funds, including Orbis Global Equity Fund, have also earned their keep.

January 2017
A fee structure for fund managers who put their money where their mouth is
Wall Street Journal
11 January 2017

Investment management fee structures have come under fire for failing to promote value for clients, and performance fees seek to address that problem. Orbis’ performance fee means that fees are paid when the fund outperforms the benchmark and refunds are paid when it underperforms.

How to bag a bargain share in January sales
Money Observer
5 January 2017

One way to earn attractive long-term returns is to find well-priced stocks in one attractive area of the market. Orbis director Dan Brocklebank points out that banks may be one such undervalued area, as they have remained out of favour with investors in the years since the financial crisis.

FCA raises questions about fee levels
IPE Magazine
3 January 2017

The UK Financial Conduct Authority (FCA) published an interim report in November on the asset management industry, casting a dark light on the high fees managers charge clients—even when they deliver no value. Orbis director Dan Brocklebank observes that a well-designed performance fee structure can ensure that managers are incentivised to deliver long-term value to their clients and are paid on that basis alone.

December 2016
The investment strategy tipped to shine in 2017
Money Observer
30 December 2016

Value investing has been out of style as of late, despite it being the outperforming strategy when compared to growth investing over the long term. Orbis is featured in this article as specialists in value investing.

The multi-asset funds that have thrived and fallen in 2016
FE Trustnet
20 December 2016

Most multi-asset funds struggled in 2016 to beat the FTSE All World index. However, the Orbis Global Balanced Fund was one of just two funds in the relevant Investment Association sectors that comfortably outperformed the FTSE All World index as well as its benchmark.

Turnover troubles: Is trading frequency disclosure a triumph for transparency?
Money Marketing
12 December 2016

Orbis Investments has been disclosing annual portfolio net asset value turnover statistics for its OEIC funds. Director Dan Brocklebank feels the figure is “useful”, but needs to be put in context as it can vary from year to year.

It Works Because It Hurts: 4 Contrarian Stocks With Big Upside Potential
9 December 2016

Adam Karr, Managing Director at Orbis, sits down with Wallace Forbes in an interview to talk about Orbis’ investment philosophy and contrarian thinking.

Why it can pay to take a long-term view
Shares Magazine
8 December 2016

When it comes to investing, taking a long-term view is difficult especially when investors are exposed to news and images of Wall Street despair. Orbis Director Dan Brocklebank points out that it’s especially difficult to filter out from all of this noise what really matters over the long term. He suggests best approaches for investors.

November 2016
What can UK retailers expect from Black Friday?
Investors Chronicle
24 November 2016

Since the UK voted to leave the EU, a dark cloud has been cast over the resilience of consumer spending in Britain. But, Orbis’ Ben Preston believes the Brexit vote hasn’t harmed consumers’ willingness to shop, rather it had an impact on the value of currency.

FCA slams active managers and proposes single fund charge
Investors Chronicle
24 November 2016

Dan Brocklebank, director at Orbis Access, sees the new FCA report on fund fees as a wake-up call for the industry and a positive step in fund charge reforms. Orbis believes in a fee structure that shares losses as well as gains and says that investors should demand value for money from the fees they pay their managers.

Godfrey’s The People’s Trust reaches fundraising goals
Money Marketing
22 November 2016

The People’s Trust, the new fund to be launched by Daniel Godfrey, former chief executive of the Investment Association, has reached its minimum funding target and will be launched in the first half of next year. Orbis Investments is one of the fund’s first three investment managers.

Fund Manager Chat: Dan Brocklebank – Orbis Investments UK
Lipper Alpha Insight
4 November 2016

Our own Dan Brocklebank sits down with Jake Moeller, Head of Lipper UK & Ireland Research, and outlines his views on the key aspects of the active vs passive debate. Plus, he discusses the approach Orbis adopts in order to align investor interests with those of the fund manager. Have a listen!

The most consistent outperformers from the IA Global sector
2 November 2016

The Orbis Global Equity Fund is highlighted - alongside two other IA Global funds – following research by FE Trustnet indicating that they have “consistently sat in their sector’s upper deciles over recent years.”

The impact of shifting commodity prices
Investment & Pensions Europe
1 November 2016

Orbis’ Ben Preston talks about opportunities that slumping commodity prices can create for investors who are brave enough to take all the risks attached with investing in emerging market equities.

October 2016
Why investors should be really excited about market valuations
24 October 2016

Dan Brocklebank, director at Orbis Access, explains why investors should be excited about value stocks and under-the-radar opportunities at the moment rather than worrying about the strong performance of most major indices.

It is time for the Government to send out a clear signal that saving for the future is the right thing to do, says Jeff Prestridge
The Mail on Sunday
23 October 2016

Jeff Prestridge argues that the government should start encouraging people to save instead of allowing companies to push or encourage customers to increase spending and debt. He then goes into detail about The People’s Trust, an initiative started by Daniel Godfrey, former IA Chief Executive, and the merits of investment trusts. Orbis Investments is mentioned as one of the first three asset managers who are backing Godfrey’s initiative.

A home for real long-term investors: Former fund industry boss unveils his People’s Trust that aims for 7% a year return
23 October 2016

Daniel Godfrey, former chief executive of the Investment Association, plans to launch a low cost, long-term mutual fund called the People’s Trust. It will target a compound annual return of 7% and Godfrey is looking to crowdfund the set-up costs. Orbis Investments is one of three ‘supporting investment managers’ initially announced.

Is “pay for performance” the future for fund fees?
The Evidence-Based Investor
19 October 2016

Dan Brocklebank, director at Orbis Access, in an interview brings attention to lack of transparency in asset management, how the Orbis Access fee model works and his hopes for the future where more active managers move towards these sorts of fee models.

Orbis Access creates giant race track at Canary Wharf
Event Magazine
17 October 2016

Coverage of the Benchmark Rally event in Canary Wharf where we installed a giant race track to raise more awareness of Orbis Access and our fee model.

Money Box: Can children’s attitudes to money shape their adult financial lives?
BBC Radio 4
12 October 2016

Dr Elizabeth Kilbey, consultant clinical psychologist, who worked with us on the Kids’ Money Matters report, is on Money Box as a guest speaker discussing the topic of children’s attitudes to money and what influence it will have on their adult financial lives.

Godfrey says IA has kicked principles into ‘long grass’
FT Adviser
7 October 2016

An interview with Daniel Godfrey, former chief executive of the Investment Association, on his campaign for greater transparency in asset management. He also talks about performance fees and mentions our performance fee model – fast forward to 5min 40 sec into the interview to have a listen.

September 2016
Beware ‘the lower, the better’ mindset; investors should focus on other facts
FT Adviser
26 September 2016

Dan Brocklebank, director at Orbis Access, challenges the behaviour of investors who seek out fund managers offering lower fees, presuming that it is going to be better for them in the long run. He points out that if investors consider other fee structures, it may be more rewarding in the long run.

Expert editions vol 19: How to teach your children about the value of money
Motherhood: The Real Deal
22 September 2016

An interview with Dr Elizabeth Kilbey, consultant clinical psychologist and expert who analysed findings in the Orbis Access Kids’ Money Matters report, on the importance of teaching children about money. The interview covers area of how parents can start talking to kids about money, how to go about it in an age appropriate way and provides practical teaching lessons.

TV psychologist reveals how to educate your children about money
19 September 2016

Dr Elizabeth Kilbey, consultant clinical psychologist, provides tips on how parents can broach the subject of money with their children. She calls for more financial education in the UK, and says that financial education should really start at home. Dr Kilbey analysed findings in the Orbis Access Kids’ Money Matters, which found that kids have a keen awareness of money.

The tech stocks about to go super-size
The Telegraph
18 September 2016

Ben Preston provides his thoughts on technology firms and their future returns. He expresses concern over the valuations of stocks such as Facebook, Amazon, Netflix and Google. He says they are already priced to deliver continued rapid growth, so it may be hard for them to beat expectations.

Orbis Access names ex-OMI exec Bradshaw to head its UK retail biz
International Investment
13 September 2016

Announcement that Marcel Bradshaw will be joining Orbis Access in order to head our UK retail business as we are broadening the distribution of our funds to include third parties.

Milk costs £4, while teachers earn £1.1m: the world according to children
12 September 2016

The Orbis Access Kids’ Money Matters report is covered, along with its finding that there is a greater need to educate young children about finance. Practical tips for parents are also included. These are provided by Dr Elizabeth Kilbey, a consultant clinical psychologist, who features in the report.

Funds with performance fees come under fire
Financial Times
9 September 2016

Are performance fees suitable for retail investors? Dan Brocklebank, Director at Orbis Access argues that performance fees can align fund managers interests with investors better than a flat fee structure.

Questions raised over the value of fund performance fees
Financial Times
7 September 2016

Questions raised around performance fees and if they truly motivate fund managers to outperform. Dan Brocklebank, director at Orbis Access, is quoted saying that they can help ensure interests are aligned between clients and the manager, so long as they are structured well.

August 2016
Investor Views: “I Pay No Fees on my Son’s Junior ISA”
31 August 2016

A private investor tells Morningstar why she switched her child’s Child Trust Fund into an Orbis Access Junior ISA, in part because the Junior ISA comes with a fee offer on one year’s investment at zero cost.

Bonuses for fund managers – Good or bad?
The Evidence-Based Investor
26 August 2016

In light of coverage about fund manager pay, question is raised: do bonuses improve investor outcomes? Plus, the Orbis Access fee model is used as an example of one way of linking fund manager remuneration and the fees investors pay.

July 2016
Shares I Love: Rolls-Royce
Investors Chronicle
28 July 2016

Dan Brocklebank, director at Orbis, shares his views on why Rolls-Royce stock is worth holding over the long term due to high demand and barriers to entry for its jet engine business.

Who should pay for underperformance?
BL Global
21 July 2016

Orbis Access’ performance-based fee model is featured as an example of a fund fee that only charges if the fund outperforms. If it does, it goes halves, taking 50 percent of that outperformance. And when it underperforms, it refunds half the underperformance to its investors.

Ahead of the Curve: Fund managers must face fire too
Investment & Pensions Europe
1 July 2016

Orbis’ Matthew Spencer argues that poorly designed fee structures create a mismatch between manager and client interests. Instead, managers should design incentive structures that reward outperformance, penalise them for poor performance and overall be proportionate to the value that the manager has added to the client’s investment horizon.

June 2016
Asset managers move to Brexit-proof funds
5 June 2016

In the lead up to the British vote on EU membership, fund managers weigh in on whether they have made any contingency plans in case of a British exit. Dan Brocklebank, director at Orbis Access, says that any fund portfolio changes must come after the referendum, and not before.

May 2016
The global funds bucking the trend to make a good risk-adjusted return
31 May 2016

The average IA Global fund has performed poorly over the last eight years dodging the worst of the market's falls, according to FE Trustnet. Gary Jackson looks into which Global Funds have bucked the trend and have made good risk-adjusted returns. The Orbis Global Equity Fund finds itself on that list.

Funds’ lucrative entry fees under attack
25 May 2016

Entry fees that fund managers have been charging investors are under scrutiny by the FCA. Dan Brocklebank director at Orbis Access is quoted saying that entry fees are something that we are not comfortable charging our investors with.

April 2016
Opinion: "Fund managers are having far too much fun"
27 April 2016

When we do go active we need to support firms that really get the way the market is changing. I’ve written before about a few funds that are testing out performance fee-only models. But the one that has taken it to its most extreme is Orbis Access. They charge you nothing on their funds (they have two — Global Equity and Global Balanced) if they aren’t outperforming. No custody fees, management fees, admin, entrance or exit fees. Nothing. Instead they charge you 50 per cent of any performance over their benchmark when they beat it and pay you that money back when they don’t.

Why you should find a fund manager who doesn’t play golf
25 April 2016

The debate over hidden costs in the fund management industry continues, with the Orbis Access performance fee highlighted as a counterpoint.

Skipping a generation could be more tax-efficient
21 April 2016

Looking at Orbis Access research which highlights concerns grandparents have about how their grandchildren will get on the property ladder or fund their retirement.

What’s the prognosis for investing in China?
15 April 2016

As investors try to figure out what’s next for China, Craig Bodenstab, investment counsellor at Orbis, provides his opinion.

Monday Morning Memo: Softly spoken active funds
11 April 2016

Jake Moeller argues that the benefits of the active funds industry need to be articulated more strongly. Orbis' paper - Active Management: A Practitioner's Perspective is mentioned as a supporter of active funds.

Stampede into gold catches BlackRock out
10 April 2016

The volatile market conditions since the start of 2016 have helped prop up the gold price as investors look for a ‘safe bet’. Orbis Access director Dan Brocklebank provides his opinion.

March 2016
Active managers defend their performance record
24 March 2016

Looking at the debate as to whether fund managers can justify their fees when the majority of funds over the last five years have failed to beat their benchmarks. The Orbis Access offering is highlighted and supported with a statement from the Cass Business School talking about our fee model.

Investor Views: “Comparing financial advice costs is tricky”
23 March 2016

A private investor tells Morningstar about the challenges of managing his own investments and pensions, while also putting something away for his grandchildren.

Global Equities: The end of a worldview
16 March 2016

Looking at the merits and logic behind geographical vs. sector-specific fund mandates. Orbis director Dan Brocklebank talks about the dangers of following investment fads, citing the dotcom crash.

Grandparents give cash rather than invest for their grandkids’ future
15 March 2016

An article based on Orbis Access research looking into “super generous” grandparents. It focuses on the underlying theme of gifting money to grandchildren for instant gratification, versus long-term investing for their future. Orbis Access director Dan Brocklebank is quoted, talking about using this generosity to sow the seeds of a savings habit.

Asset Management Fees: What’s the going rate?
1 March 2016

A look at the cost of running a successful asset management business and the fees charged. It also highlights Orbis’ alternative fee structure.

February 2016
The fund management fees you have to pay even if you lose money
27 February 2016

The poor performance of Chinese markets opens this piece about fees charged by funds during periods when investors are losing money. A study by the Cass Business School, commissioned by Orbis Access, is quoted. The study notes that only three funds available in the UK feature fees where the fund manager “bears some pain” during bad spells: Neil Woodford’s Patient Capital Trust and two from Orbis Access.

Family money questions answered
22 February 2016

Looking at some of the important money questions that families come across. Orbis director Dan Brocklebank is quoted talking about Junior ISAs and how much can be paid into them annually.

Investor Views: “If my Fund Manager doesn’t deliver, I don’t pay”
10 February 2016

Case study of private investor Bella Briant-Evans, who explains why she’s considering switching her two Child Trust Funds into Junior ISAs. She wants to build up a decent nest-egg for each of her three children. The youngest has a Stocks & Shares Junior ISA with Orbis Access. Bella is now considering switching the older two Child Trust Funds into Junior ISAs too.

Blog: Will the Super Bowl predict the US stockmarket?
5 February 2016

The Super Bowl Stock Predictor has correctly called the future direction of US stock markets 82% of the time over the pasts 49 years. That’s a pretty impressive hit rate, so how does it work? In fact, it’s just a bit of fun created to make the point that just because some things appear to be connected that does not always mean they actually are.

January 2016
Saving for your children's future
28 January 2016

Money may not be able to buy happiness, but research by Orbis Access shows that parents place a huge importance on their children’s future financial well-being. They clearly feel that being over-burdened with debt could overshadow all other aspects of their life. Indeed, debt is regarded as a bigger threat to their children’s future than making the wrong career choice or having an unhappy marriage.