Ruffer Investment Company is focussed squarely on capital preservation, with an objective seeking to outperform cash, and not to lose money on a 12-month rolling basis. Ruffer has a good track record in beating its objectives.
This is primarily a long only vehicle, it also uses currencies and derivatives as part of its investment process and is managed on a day-to-day basis by Steve Russell, Hamish Baillie and Duncan MacInnes. The managers pursue a strategy that they freely admit will, from time to time, mean the trust forsakes ‘easy’ gains and the last three years have been an obvious example of that.
As a result, this is not a fund for those who want to chase a rampant bull market, but the real grit of this fund becomes evident during times of crisis. In 2008, when the MSCI World index lost 17.9% and the average trust in the AIC Flexible Investment sector lost 16.2%, Ruffer delivered positive returns of 24.1%.
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Fund History: Ruffer Investment Company
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