Orbis Global Balanced: Investing through the cycles
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        Orbis Global Balanced: Investing through the cycles

  Allan Gray Unit Trust Management   Q1 of 2023 | 2 years ago

The failure of Silicon Valley Bank (SVB) has made markets worry about banks everywhere. In the case of Credit Suisse, that worry was well founded. We believe it is unfounded for the Japanese, Korean and Irish banks we hold. We sold out of also-robust ING Groep, which we had been trimming anyway on valuation grounds, and rotated some of that capital into Korean banks at bombed-out valuations. The rest of the banks we hold continue to look compelling, and we continue to hold them.


SA - MA - I
SA - E - G
SA - E - LC
G - MA - F
SA - IB - VT
G - E - G
SA - MA - F
R - MA - F
SA - RE - G
SA - MA - HE
Did You Know ?

Asset manager Sygnia is a product of a management buyout in a larger transaction that was involving Cadiz buying African Harvest Fund Managers.

Simon Hudson and Wiston Floquet founded in 2001 Flagship Asset Management.

Anchor Capital is a division of Anchor Group , that was founded by Peter Armitage.

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Disclaimer
Our unit trusts prices captured in and around the end of each month and are rounded off to the nearest full 1 cent.