Allan was responsible for founding the Allan Gray Investment Counsel and the Allan Gray Orbis Foundation.
Investment management firm Allan Gray has informed the public of its 81-year-old founder Allan Gray’s death on 10 November. He passed away from a heart attack in Bermuda.
“It is with deep sadness that we share the news of the death of Allan William Buchanan Gray of natural causes,” the statement read. “Our first thoughts are with his family, and with them, as colleagues and friends, we are mourning the passing of a man who made an immeasurable impact on many lives as an entrepreneur, investor and philanthropist. He has earned his rest.”
Gray started the Allan Gray Investment Counsel in 1973.
In 1989, Gray founded the Allan & Gill Fray Foundation, named after himself and his wife.
In a letter to clients he wrote in 2015, Allan said that, in starting Allan Gray Investment Counsel, he was convinced that his passion for investing could be deployed to demonstrably enhance clients’ savings and wealth and provide them with good value for their money.
In 2005, Gray founded the Allan Gray Orbis Foundation, which awarded scholarships to some of South Africa’s top schools, as well as university bursaries.
In 2015, Gray transferred his controlling shareholding in Allan Gray to the Allan & Gill Gray Foundation. Allan Gray donates a portion of its profits to the foundation.
He is survived by Gill and son William.