Transcription of Allan Gray | Balanced Fund
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Allan Gray | Balanced Fund
fund managers: Duncan Artus, Jacques Plaut, Rory Kutisker-Jacobson, Tim Acker(Most foreign assets are invested in Orbis funds) Inception date: 1 October 1999 Performance net of all fees and expensesFund description and summary of investment policyThe fund invests in a mix of shares, bonds, property, commodities and cash. The fund can invest a maximum of 45% offshore. The fund typically invests the bulk of its foreign allowance in a mix of funds managed by Orbis Investment Management Limited, our offshore investment partner. The maximum net equity exposure of the fund is 75% and we may use exchange-traded derivative contracts on stock market indices to reduce net equity exposure from time to time.
The Fund returned 5.1% for the quarter and 20.3% for the 2021 calendar year. While absolute returns have been strong in real terms, we are not where we want to be versus the best of our peers over the recent past. We remain significantly underweight US equities, which make up over 60% of the MSCI World Index.
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