All / Myles, Not to take this off topic, but have you ever looked at the Orbis funds from Allan Gray that are invested in USD/Euro abroad? Below are the three options, despite the useless Rand, would these not be a decent option? Although goodness knows which would be the best bet in the current bearish economic climate? Your thoughts? 1. Orbis Global Equity Fund (USD)Fully invested in global equities• The benchmark is the FTSE World Index, including income, gross of withholding taxes (“FTSE World Index”) • The Fund’s currency exposure is managed relative to that of the FTSE World Index 2. Orbis SICAV Global Balanced Fund (USD)A diversified global portfolioInvests in global equities, fixed income and commodity-linked instrumentsAims to earn higher long-term returns than its benchmark, which is comprised of 60% MSCI World Index with net dividends reinvested and 40% JP Morgan Global Government Bond Index (“60/40 Index”), both in US DollarsCan employ limited stock market hedging to reduce risk of loss 3. Orbis Optimal SA Fund (USD and Euro)A hedged portfolio of selected global equities• Invests principally in selected global equities believed to offer superior relative value • Employs stock market hedging to reduce risk of loss
