Preoccupied with keeping charities safe

At Ruffer, we take on the responsibility for investing a charity’s assets, including managing the risk, and coping with uncertainty.

Rather than place a charity’s funds on the market rollercoaster, we aim to deliver consistent positive returns. Our distinctive all–weather approach is designed to perform in all market conditions.

With a focus on capital preservation and prudent growth, we stand as partners with charity trustees, for the long haul.

at a glance

Approach	Single approach - multi-asset and without benchmarks
Philosophy	Unchanged since we started in 1994
Returns	Long-term returns ahead of cash, inflation and UK equities
Protection	Clients protected from the bursting of the dot.com bubble, the credit crisis and the crash in Q1 2020, but please remember past performance is not a guide to future performance
Process	Distinctive, clear and repeatable
Perhaps	An attractive alternative to volatile equity markets
ESG	Fully integrated into our investment process

How we invest

who to contact

Christopher Querée

Investment Director

T +44 (0)20 7963 8110

Previously Director at Le Masurier, James & Chinn, now absorbed within the HSBC Group. He spent thirteen years there, with responsibility for offshore private clients, moving to Chiswell Associates in 2001 to focus on charity fund management, before joining Ruffer in 2004 to help develop the firm’s charity business. He holds an MBA from Henley Management College and is co-manager of Ruffer’s Common Investment Fund, the Charity Assets Trust.

Ajay Johal

Investment Manager

T +44 (0)20 7963 8040

Graduated from the University of Warwick with a degree in history and sociology and worked at Barclays Wealth before joining Ruffer in 2014. In 2019, he worked as an equity analyst in Ruffer’s Hong Kong office, before returning to the charities team in London as an Investment Manager. He is a member of the Chartered Institute of Securities & Investment.

In managing assets for so many charities we have an almost unimaginable responsibility. We bear this responsibility with bravery, and very great caution.

Jonathan Ruffer, Chairman

about us

Ruffer is one of the largest charity fund managers in the UK

£1.5 billion under management, for over 250 charity clients as at 31 December 2020

Managing money for charities large and small

Clients include hospitals, universities and schools, livery companies, religious bodies, community foundations and grant-making endowments

Specialist charity team with seven investment professionals

Our service

Ruffer offers a discretionary investment management service – which means trustees delegate investment decision-making to us.

Charities investing with Ruffer can have their own segregated portfolio, or invest via a fund. Segregated portfolios can be tailored to a charity’s requirements – ethical restrictions, for example, or the need to distribute income.

Our fund, the Charity Assets Trust, is designed specifically for UK charities. It follows the core Ruffer strategy, and has a responsible investment policy.

Our service for charity clients includes:

Dedicated portfolio managers
On hand to answer questions, and attend trustee meetings
Online reporting, with daily valuations
Full valuation and investment reports every quarter
Bespoke information as needed on how the charity’s money is being invested – including environmental, social and governance issues
Tax packs and custom reports

For investors, natural capital is no longer purely an environmental concern. It is also a financial one, that should not be ignored.

Alexia Palacios, Analyst, Responsible Investment

Read the article

I remember my father reporting a note with 11 zeros was worth roughly one cabbage.

Luka Gakic, Investment Director, on hyperinflation

Read the Ruffer Review

A changing of the guard is also the way of the world – and on its way. We are preparing for a time when high taxes – on capital gains, wealth, and income – effectively constrain capital accumulation.

Jonathan Ruffer , Chairman

Read the review

Our charity partners

Ruffer works with a number of bodies to provide support to the charity sector.

We hold and sponsor events, provide training for trustees and share investment thinking with our clients and the broader sector via our partnerships and charity publications.

Our engagement through partnerships helps ensure we truly understand the challenges and opportunities charities are facing. Our main partners are listed below.

We’ve come up with a short guide for trustees to help navigate charity finances through the pandemic.