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Calendar Year Total Rates of Return

Curr200720062005200420032002200120001999199819971996199519941993199219911990
Equity Funds
Orbis Global Equity FundUS$12.718.721.816.645.7(10.3)18.27.128.621.04.313.836.6(2.2)17.511.734.7(7.8)
FTSE World Index (US$)US$11.321.511.316.133.9(19.1)(16.1)(11.1)26.023.015.413.219.65.822.6(5.1)19.7(17.1)
Average Global Equity Fund (US$)US$10.621.09.113.030.5(18.6)(17.9)(10.9)29.112.57.713.313.4(2.7)31.4(1.5)13.3(8.8)
Orbis SICAV Global Equity Fund*Euro1.46.938.9
FTSE World Index (Euro)Euro0.48.628.3
Average Global Equity Fund (Euro)Euro0.18.624.8
Orbis SICAV Japan Equity (Yen) Fund*Yen(7.0)(4.4)44.611.329.3(6.7)(3.0)10.125.224.6
TOPIX Total Return IndexYen(11.1)3.045.211.325.2(17.5)(18.9)(25.0)59.7(6.6)
Average Japan Equity Fund (Yen)Yen(13.3)0.247.68.022.5(18.7)(18.2)(22.6)68.9(9.6)
Orbis Japan Equity (US$) FundUS$(3.4)0.047.413.430.0(4.8)1.217.329.9(0.9)1
TOPIX hedged into US$US$(6.8)8.250.113.027.4(16.0)(16.0)(19.1)68.7(6.4)1
Orbis SICAV Japan Equity (Euro) Fund*Euro(4.4)(1.8)47.913.931.9
TOPIX hedged into EuroEuro(8.0)5.948.313.729.0
Orbis Africa Equity (Rand) FundRand12.051.257.725.227.029.840.36.1120.310.92
FTSE/JSE Africa All Share IndexRand19.241.247.325.416.1(8.1)29.1(0.1)61.3(18.6)2
Orbis SICAV Asia ex-Japan Equity Fund*US$24.627.8
MSCI All Country Asia ex Japan (Net) (US$) IndexUS$40.133.3
Average Asia ex-Japan Equity FundUS$37.131.0
Absolute Return Funds
Orbis Optimal (US$) FundUS$7.04.98.62.210.812.229.032.62.911.4(9.3)4.016.80.910.520.125.724.2
Orbis Leveraged (US$) FundUS$1.6(0.2)14.1(0.6)17.517.872.371.3(4.1)(1.3)(23.3)10.224.2(9.2)24.331.934.519.7
Bank Deposits (US$)US$5.55.23.41.41.21.84.16.65.35.75.95.76.34.53.34.06.48.8
Average Global Equity Fund (US$)US$10.621.09.113.030.5(18.6)(17.9)(10.9)29.112.57.713.313.4(2.7)31.4(1.5)13.3(8.8)
Average US$ Bond FundUS$5.63.31.73.23.18.24.97.1(1.3)5.97.74.916.2(3.3)9.27.217.71.0
Orbis Optimal (Euro) FundEuro2.80.510.52.06.79.129.727.90.40.72
Orbis Leveraged (Euro) FundEuro0.4(2.3)13.0(0.2)18.818.970.965.7(7.2)(11.0)2
Bank Deposits (Euro)Euro4.22.92.12.12.43.44.54.32.92.02
Average Global Equity Fund (Euro)Euro0.18.624.85.08.8(31.1)(13.0)(4.9)50.5(6.0)2
Average Euro Bond FundEuro0.3(0.7)3.35.94.26.95.06.1(3.5)4.92
Orbis Optimal (Yen) FundYen1.62.1
Orbis Leveraged (Yen) FundYen(3.2)(4.9)
Bank Deposits (JPY)Yen0.60.2
Average Global Equity Fund (Yen)Yen3.622.3
Average Yen Bond FundYen1.0(0.7)

* The Orbis SICAV Global Equity Fund, the Orbis SICAV Japan Equity Fund, (which includes Yen and Euro Classes) and the Orbis SICAV Asia ex-Japan Equity Fund are funds of Orbis SICAV, a Luxembourg Part I UCITS, which is the only Orbis investment company admitted for public marketing in Luxembourg. Prior to 29 November 2002, the Yen Class of the Orbis SICAV Japan Equity Fund was a British Virgin Islands investment company, Orbis Japan Equity (Yen) Fund Limited. The returns for the Orbis SICAV Global Equity Fund and the Orbis SICAV Asia ex-Japan Equity Fund relate to the investor class of shares.

Past performance is not necessarily indicative of future performance. The value of investments may go down as well as up and an investor may not get back the amount invested.

Returns are net of fees, include income and assume reinvestment of dividends. Please refer to the explanatory notes on the Returns page.

Partial year returns - not annualised

1 Since 12 June 1998

2 Since 30 June 1998