On the 3 December 2001 Allan Gray launched a new unit trust, the Allan Gray Global Equity Fund of Funds. The fund is a Rand denominated fund that provides investors access to Allan Gray's international investment expertise. Up to 95% of the fund will be invested in the Orbis Global Equity Fund with the balance being invested in the Allan Gray Money Market Fund. Orbis is an offshore sister company to Allan Gray and is based in Bermuda. The company is run by Dr Allan W.B. Gray and his son William.

The Allan Gray Global Equity Fund of Funds, which invests up to 95% of its assets in the Orbis Global Equity Fund, has been closed to new business until further notice. The fund is subject to Reserve Bank restrictions regarding annual offshore capacity and the capacity for 2001 has been fully utilised.