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Orbis Funds Advise of Certain Changes
Hamilton, Bermuda: 1 May 2015 – In a filing with the Bermuda Stock Exchange, Orbis announced that the Board of Directors of each of Orbis Japan Equity (US$) Fund Limited, Orbis Global Equity Fund Limited, Orbis Optimal SA Fund Limited and Orbis SICAV has approved the following relevant changes:
1. Orbis Japan Equity (US$) Fund Limited.
The Bye-Laws of Orbis Japan Equity (US$) Fund Limited have been amended. These amendments include making provision for refundable reserve fee share classes in the capital structure of the Fund. Details of the fee share classes are set out in the prospectus of this Orbis Fund and a copy of the amended Bye-Laws may be obtained from the Manager, Orbis Investment Management (B.V.I.) Limited.
2. Orbis Global Equity Fund Limited and Orbis Optimal SA Fund Limited.
An amendment has been made to an investment restriction applied by each of Orbis Global Equity Fund Limited and Orbis Optimal SA Fund Limited that generally provided that no more than 10% of each of these Orbis Fund’s net assets may be invested in securities that are not traded on a stockmarket that is a full member of the World Federation of Exchanges. This investment restriction has been changed such that it now generally provides that no more than 10% of each of these Orbis Fund’s net assets may be invested in securities that are not listed on or dealt in on certain regulated markets. The summary of each of these Orbis Fund’s investment and borrowing powers, which include this restriction, is set out in each Fund’s prospectus and a complete copy of these restrictions may be obtained from the Manager, Orbis Investment Management Limited.
3. Orbis SICAV Japan Equity Fund and Orbis SICAV Asia ex-Japan Fund.
The Orbis SICAV Japan Equity Fund and the Orbis SICAV Asia ex-Japan Fund will each now offer a No Fee Share Class. This class will not bear any fees and will be available only to Funds managed by Orbis. Details of the fee share classes are set out in the prospectus of the Orbis SICAV.
Bermuda contact:
Orbis Investment Management Limited
Attn: Mr Hugh Gillespie
Tel: (441) 296-3000