Distinctive investing that puts safety first

Serving clients all around the world

Investing well involves managing risk, coping with uncertainty, and stomaching discomfort. At Ruffer, we aim to do all of this on behalf of our clients.

Rather than put people on the market rollercoaster, we aim to deliver consistent positive returns.

Our all–weather approach is designed to perform in all market conditions. With an emphasis on capital preservation and prudent growth, we’re focused on making good money over the long haul.

At a glance


We serve clients around the world


One investment approach, investing across different classes of assets


Long-term returns ahead of cash, inflation and equities


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
Perhaps An attractive alternative to volatile equity markets


Unchanged since we started in 1994


Fully integrated into our investment process
Benjamin Boucher–Ferté
Investment Director
Graduated from ESCP Europe in 1999 and joined the Private Wealth Management group of Goldman Sachs in London after completing his National Service with Renault Financial Services. In 2004, he participated in the launch of Fulcrum Asset Management where he was a Director until 2010, when he joined Ruffer.
Alice Brader-Ellis
Investment Director
Graduated in 2002 from Durham University with a BA (Hons) in Chinese and Management, and began her career with Bloomberg in London and Hong Kong. In 2007, while still in Hong Kong, she joined JPMorgan Asset Management, and in 2014 transferred back to London with JPMorgan Private Bank as part of the International Manager Selection team. She joined Ruffer in 2017.
who to contact – REST OF THE WORLD
Alex Lennard
Investment Director
Joined Ruffer in 2006 after graduating from Exeter University with an honours degree in economics and finance; he is a member of the Chartered Institute for Securities & Investment. He initially worked as assistant to Jonathan Ruffer and now manages investment portfolios, concentrating on family offices and corporate pension schemes. He is co–manager of Ruffer Total Return International.
Laetitia East
Investment Director
A graduate of Oxford University, Laetitia joined Ruffer in 2012, completing the CISI Wealth Masters in 2015. Having previously managed a private wealth team, investing separately managed accounts, Laetitia now works on the International and Institutional team and is focused on growing Ruffer’s US business.
Wherever our clients live and work, Ruffer aims to provide them with a combination of good investment returns, first class service, and clear reporting.
Clemmie Vaughan, Chief Executive
The international service

We want to make our international clients feel very much at home with Ruffer, so we have invested in people and partnerships that allow us to build strong relationships with clients in many countries.

Our international clients have direct access to a dedicated portfolio manager in London or Paris. The portfolio manager oversees all aspects of the client’s relationship with Ruffer, supported by a wider team.

the detail
  • Dedicated teams serving international clients
  • Service available in a range of currencies and languages
  • Local accounts and cross–border tax reporting available for around twenty countries
  • Channel Islands service available, for clients who want their assets held outside the UK
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
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
The markets have wired themselves to the wrong inevitabilities.
Henry Maxey, Chief Investment Officer, ON THE DEFLATION MACHINE
80 Victoria Street
London SW1E 5JL
31 Charlotte Square
Edinburgh EH2 4ET
103 boulevard Haussman
75008 Paris, France