Africa Equity (Rand) Fund have been approved for listing of up to 100 million shares in each fund on the Bermuda Stock Exchange.

The funds are open-end mutual funds incorporated in Bermuda.

"The objective of the Euro funds is capital appreciation in the euro,'' a press release stated. "The Orbis Optimal (Euro) Fund and the Orbis Leveraged (Euro) Fund invest substantially all of their assets in the Orbis Optimal (US$) Fund and the Orbis Leveraged (US$) Fund respectively, and by selling forward US dollars into the euro, they can hedge their currency exposure into the euro. The objective of the Orbis Africa (rand) Fund is to obtain higher returns in the South African rand than the South African stockmarket, without greater risk.'' The funds are managed by Bermuda-based Orbis Investment Management Ltd. In total eight Orbis funds are now listed on the BSX.