The Orbis Japan Equity Funds are open end mutual fund companies incorporated in the British Virgin Islands on December 23, 1997 (Yen Fund) and May 27, 1998 (US$ Fund). The Yen Fund's objective is to achieve higher returns in Japanese Yen than that of the Japanese Stock Market, without greater risk. It intends to concentrate its investment strategy in selected Japanese equities and remain fully exposed to the Japanese Yen. The US$ Fund seeks higher returns in US Dollars than the Japanese Stock Market hedged into US Dollars, without greater risk. The US Dollar Fund will invest in the Yen Fund and will usually be 100% hedged into US Dollars.
Both Funds are managed by Orbis Investment Management (B.V.I.) Limited while Orbis Investment Management Limited of Bermuda and Orbis Investment Advisory Limited of the U.K. provide advice and research on Japanese investments to the Manager.
The listing of the Orbis Japan Equity Funds is sponsored by Bermuda International Securities Ltd., (a wholly owned subsidiary of the Bank of Bermuda Limited) of Hamilton, Bermuda. The issue is being introduced for listing under the general provisions of The BSX.
Allan Gray, Chairman of the Orbis Japan Equity Funds, said "We are pleased to add the Orbis Japan Equity Funds to the present listing of the Orbis Funds on the BSX".
"The BSX is pleased to welcome the listing of a further two Orbis funds. A total of five Orbis Funds are now listed on the Exchange, while the total number of funds listed on the Exchange stands at 113," said Mr. James S. McKirdy, Listing Manager of The BSX.
For further information on the Orbis Japan Equity Funds, please contact Helene Hart or Geoffrey Gardner at Orbis in Bermuda, telephone: 1-441-296-3000 or facimile: 1-441-296-3001. For additional information on the BSX please contact Stephen Davidson, Tel: 441-292-7212 or e-mail sdavidson@bsx.com, or visit the BSX Website at http//www.bsx.com.