Orbis gains from contrarian strategy

It has been a tough three years for the offshore global equity funds sector. In the 36 months to July 2001, the average fund in the 324-strong peer group was -1.47%. The worst returns have come in the last 12 months with the sector average being -22.04% compared with a positive return of 13.42% in August 1999-July 2000 and 9.72% in the 12 months preceeding this. Within this sector there are still plenty of funds that have produced high three year total returns including Orbis Optimal US Dollar (85.21%), Orbis Optimal Euro (34.91%) and Orbis Global Equity (67.67%). They ha...