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Orbis SICAV – Appointment of Orbis’ Luxembourg Management Company
Hamilton, Bermuda – 01 July, 2013 – In a filing with the Bermuda Stock Exchange (“BSX”), Orbis SICAV announced that its board of directors has, with effect from 01 July, 2013, appointed Orbis Investment Management (Luxembourg) S.A. (the “Manager”) as the designated management company of Orbis SICAV.
Orbis SICAV’s regulator, the Commission de Surveillance du Secteur Financier (the “CSSF”), recently issued new rules governing the authorisation and organisation of both Luxembourg management companies and “self-managed” funds (which Orbis SICAV was, prior to 1 July 2013).
The Manager’s appointment fulfils the new requirements by ensuring that oversight of Orbis SICAV’s activities is conducted in Luxembourg through a management company which is licensed by the CSSF. However, from an operational perspective, there will be no change to the investment management of the Orbis SICAV funds.
Bermuda contact:
Orbis Investment Management Limited
Attn: Mr Hugh Gillespie
Tel: (441) 296-3000