Orbis appoints Heathcote as NZ distribution partner

Orbis Investment Management has appointed Heathcote Investment Partners to distribute its global equities strategy in New Zealand, expanding access to its actively managed investment offering among local financial advisers and wholesale investors.

The partnership will initially focus on the Orbis Global Equity Fund, with Heathcote representing the global investment manager to advisers, research houses, platforms and wholesale investors across New Zealand.

The appointment comes as investors reassess portfolio concentration following the strong performance of a small group of mega-cap stocks that have driven global equity indices, renewing questions about diversification and valuation discipline.

Orbis head of clients for Australia Eric Marais said demand for actively managed global equities was increasing in New Zealand as investors sought broader diversification.

"We are seeing increased demand from the New Zealand market for actively managed global equities, which is being driven by a greater need for diversification with a truly global lens," Marais said.

"We believe our contrarian approach results in a Global Equity portfolio that brings significant diversification potential to the market."

Heathcote Investment Partners principal Clayton Coplestone said the strategy offered advisers an alternative to portfolios with substantial exposure to the same large companies, often through passive investment.

"Orbis offers advisers a truly different option: a patient, research-driven manager with the conviction to invest away from the crowd. We think the timing for that conversation is right," Coplestone said.

"We're delighted to represent the Orbis Global Equity Fund in New Zealand. Many portfolios have quietly become concentrated in the same handful of large companies, often through passive exposure."

Orbis has invested in undervalued global equities for more than 30 years, using a fundamental, long-term approach focused on identifying companies trading below their perceived worth. The firm has more than $80 billion in assets under management and a team of more than 60 investment professionals internationally.

The New Zealand expansion follows Orbis' appointment earlier this year of Allison Savas as investment director. Savas previously held the same role at Antipodes Partners, where she represented its global equities team and developed investment content for advisers.