Orbis reduces performance fee following 'tough' start to the year

The asset manager has no up-front charges on its funds but does have a performance fee of the outperformance of the fund over the MSCI World benchmark. Dan Brocklebank, director UK at Orbis Investments, said that the reason for the reduction was the performance of several funds in the past few months and to make the fee structure "more favourable to clients". He said that since the start of the year "markets appear to be returning to a more valuation-driven mindset and, after a tough period, our Global Cautious and Global Balanced funds have just recovered their prior performance high...