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Orbis Investments

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

Other description (1)

          Investment Counsellor Group team member
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The head of the firm's investment team, who is also a director of Orbis, is accountable for the investment process overall, including ensuring that our analysts apply our approach to responsible investing.

"Portfolio managers" refers to individuals who act as portfolio managers and/or are responsible for directing client capital into the highest-conviction ideas. They integrate ESG factors into their investment decisions and are responsible for engagement and proxy voting decisions. They also oversee the effective implementation of our approach to responsible investing within their investment team.

A member of the team of Investment Counsellors, which is responsible for servicing institutional clients and investment consultants, has oversight and accountability for Orbis' responsible investment duties and initiatives. 

Orbis does not have a dedicated resource to specifically analyse ESG factors. In common with the principle of individual responsibility that underlies our investment process, we believe that such issues are best considered at the individual analyst level.

Please also refer to SG 07.4.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

0 Number

07.4. Additional information. [Optional]

As long-term investors, we have always believed it is critical to understand the full range of factors that might affect a company’s business and its stockmarket performance. As part of a bottom-up research process, our analysts consider a range of factors that might affect a company’s intrinsic value, which can include environmental, social and governance (ESG) issues. For example, if a company makes money in a manner that is not sustainable from an environmental or social perspective, we will not gain conviction in the sustainability of its current level of profits. Similarly the consideration of governance issues is a critical part of our assessment of a company’s intrinsic value. There is no ESG issue that would automatically prevent us from investing in a company unless otherwise restricted by a Fund’s investment mandate. All “Phase Three” fundamental research reports that are submitted to a Policy Group Meeting—a forum for rigorous peer review held prior to the firm’s initiating an investment—include a section on relevant ESG matters.  

Orbis does not have dedicated responsible investment staff. In common with the principle of individual responsibility that underlies our investment process, we believe that such issues are best considered at the individual analyst level. In considering such matters our analysts will draw on whatever resources are available and appropriate. For example, they have access to the expertise of our Legal team with respect to governance matters. 

Our Statement on Responsible Investing is available on the Orbis website.


SG 07 CC. Climate-issues roles and responsibilities (Private)


SG 08. RI in performance management, reward and/or personal development (Private)


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