In terms of the UK, the plan is to raise awareness of the Orbis name, but also increase accessibility through both platforms and fund rating businesses.
“Accessibility comes via platforms. It’s a platform market, just like South Africa and Australia, so we understand it. At the moment we are on three platforms: Transact, AJ Bell and Raymond James. We are on two offshore platforms –, Canada Life and Old Mutual International – and we are finalising paperwork for more platforms. But getting there is hard work.
“Another important player in the UK intermediary world is the fund-rating business. With the [advent] of the RDR, the intermediary wants justification for why they choose this fund. So they say it’s rated on Morningstar or Square Mile, and so on.
“We’ve got some of it but not all of it. It’s a process of getting the demand, getting it on the platform, getting the ratings, and the more advisers use it the better the performance. It’s a process that takes time; it’s frustrating, but it takes time.”
While there are currently just two funds in the Orbis Oeic range, Mr Bradshaw points out the firm has a range of Sicavs covering global equity, global balanced, Japan, emerging markets and absolute return.
“Our strategy in the UK is very much solution-driven. We provide a solution for growth investors, which is the Global Equity fund. For moderate investors we provide Global Balanced. What makes sense for us is to look at something on the more cautious side.”
In terms of gaining traction in the UK market and convincing advisers, he admits it’s not easy because the firm is a new name.
“They haven’t lived with our performance, they haven’t seen how we outperform,” he says.
“Once you’ve experienced us and understand us, and once you know the faces behind the business, then we will start to get traction. Then we’re consistent, and we’re long term. We were 27 years in London before we opened our retail business in the UK, so we’re here for the long term.”
CV
Marcel Bradshaw
2017 – present
Head of UK retail,Orbis Investments
2015 – 2016
Head of international sales,Old Mutual Wealth
2010 – 2014
Managing director,Glacier International, Sanlam
1994 – 2009
Old Mutual
