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

Orbis cuts performance fees

Orbis Investments is reducing its performance fee charge from 50% of outperformance to 40%, commencing at the start of next month.

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". Quilter appoints Berkeley Group's Glyn Barker as chair 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 Balan...