Allan Gray has launched a new offshore fund for investors who want exposure to a low-risk global portfolio in major foreign currencies without using their own offshore investment allowance.
The Allan Gray-Orbis Optimal Fund of Funds is aimed at conservative investors and gives investors access to a mix of the Orbis Optimal SA funds, with a R500 monthly debit order or a lump sum of R5 000 for existing investors. Allan Gray has an overall investment minimum of R20 000 per investor account.
Other than the underlying funds’ fee structure, there is no additional annual management fee. The underlying funds charge 1% per year plus 20% of the outperformance above the funds’ respective benchmarks.