The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the country you have selected reflects your country of residence for the purposes of any investment activities and that you are not resident in the United States of America and are not a US Person (defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

LF Ruffer Investment Funds and its sub-funds are only registered for distribution in the UK. By clicking ‘Agree’ below, and accessing documentation in relation to these funds, you are warranting that you are an investor based in the UK.

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking ‘Agree’ and accessing documentation in relation to the fund you are warranting that you are an investor based in the UK.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer LLP and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this website does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer LLP has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer LLP or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of Ruffer SICAV under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the country you have selected reflects your country of residence for the purposes of any investment activities and that you are not resident in the United States of America and are not a US Person (defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

LF Ruffer Investment Funds and its sub-funds are only registered for distribution in the UK. By clicking ‘Agree’ below, and accessing documentation in relation to these funds, you are warranting that you are an investor based in the UK.

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking ‘Agree’ and accessing documentation in relation to the fund you are warranting that you are an investor based in the UK.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer LLP and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this website does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer LLP has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer LLP or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of Ruffer SICAV under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the country you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information for investors

Part of the Ruffer website is directed exclusively at Eligible Charities, being –

1. charities registered with the Charity Commission for England and Wales
2. charities which are exempt from registration with the Charity Commission by virtue of the Charities Act 1993
3. appropriate bodies within the meaning of the Charities Act 2006 (this includes charities in Northern Ireland and Scotland)

This part of the website may also be accessed by an eligible counterparty or a professional client (as defined in the FCA Handbook).

If you are not such a person, please click ‘Disagree’ below.

Any investments to which this part of the website relates (Charity Assets Trust), are available only to the Eligible Charities mentioned above. If you do not belong to the categories of person mentioned above you should not act or rely on the contents of this part of the website. No persons other than those mentioned above should read or rely on any information provided in this part of the website.

I belong to one of the categories of person mentioned above, I have read the information above, I understand and agree to its contents, and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the country you have selected reflects your country of residence for the purposes of any investment activities and that you are not resident in the United States of America and are not a US Person (defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

LF Ruffer Investment Funds and its sub-funds are only registered for distribution in the UK. By clicking ‘Agree’ below, and accessing documentation in relation to these funds, you are warranting that you are an investor based in the UK.

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking ‘Agree’ and accessing documentation in relation to the fund you are warranting that you are an investor based in the UK.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer LLP and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this website does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer LLP has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer LLP or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of Ruffer SICAV under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the country you have selected reflects your country of residence for the purposes of any investment activities and that you are not resident in the United States of America and are not a US Person (defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

LF Ruffer Investment Funds and its sub-funds are only registered for distribution in the UK. By clicking ‘Agree’ below, and accessing documentation in relation to these funds, you are warranting that you are an investor based in the UK.

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking ‘Agree’ and accessing documentation in relation to the fund you are warranting that you are an investor based in the UK.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer LLP and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this website does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer LLP has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer LLP or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of Ruffer SICAV under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person (as defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking [‘Agree’] and accessing documentation in relation to the fund (other than to check whether you are in a jurisdiction where the fund is registered for distribution), you are warranting that you are either based in such a jurisdiction, or that your receipt of such documentation is otherwise permissible under the laws of the jurisdiction to which you are subject.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer S.A. and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this webpage does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer S.A. has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer S.A. or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of the fund under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person (as defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking [‘Agree’] and accessing documentation in relation to the fund (other than to check whether you are in a jurisdiction where the fund is registered for distribution), you are warranting that you are either based in such a jurisdiction, or that your receipt of such documentation is otherwise permissible under the laws of the jurisdiction to which you are subject.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer S.A. and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this webpage does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer S.A. has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer S.A. or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of the fund under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person (as defined below)
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

Ruffer SICAV (and its sub-fund Ruffer Total Return International) is a Luxembourg investment fund and subject to Luxembourg law. It is authorised by and subject to the supervisory authority in Luxembourg, the CSSF, and is a scheme recognised by the UK’s Financial Conduct Authority (FCA). It is only registered for public distribution in certain jurisdictions as are outlined in the fund’s prospectus, and by clicking [‘Agree’] and accessing documentation in relation to the fund (other than to check whether you are in a jurisdiction where the fund is registered for distribution), you are warranting that you are either based in such a jurisdiction, or that your receipt of such documentation is otherwise permissible under the laws of the jurisdiction to which you are subject.

Key Investor Information Documents for Ruffer SICAV are provided in a variety of languages, along with the Prospectus (in English and French). The views expressed on this website are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument. The views reflect the current views of Ruffer S.A. and, whilst the opinions stated are honestly held, they are not guarantees and should not be relied upon and may be subject to change without notice. The information contained in this webpage does not constitute investment advice and should not be used as the basis of any investment decision. References to specific securities are included for the purposes of illustration only and should not be construed as a recommendation to buy or sell these securities. Ruffer S.A. has not considered the suitability of Ruffer SICAV against any specific investor’s needs and/or risk tolerance. If you are in any doubt, please speak to your financial adviser. Ruffer S.A. or FundPartner Solutions (Europe) S.A. may terminate arrangements for marketing of the fund under new Cross-border Distribution Directive denotification process.

In particular, interests in any funds referred to on this site have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined in the following sentence), except pursuant to registration or an exemption. For these purposes, a US Person is any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the 1933 Act, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7. Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and that you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information for investors based in Australia

By accessing or viewing this content, you are representing to Ruffer LLP (Ruffer) you are at all times a ‘wholesale client’ within the meaning of the Australian Corporations Act (Wholesale Client), and undertake to provide any supporting information to demonstrate your status as a wholesale client. Before reviewing the information on this website, please confirm that you qualify as a Wholesale Client, and have read the notices below. Information is provided only for use by Wholesale Clients ordinarily resident or viewing this website in Australia. By proceeding to review any material on this website, you are representing to Ruffer you meet one or more of the Wholesale Client tests (summarised below) and you

1. have available investable funds and your potential portfolio with Ruffer LLP or investment in Ruffer Total Return International – Australia Fund (‘the fund’) is at least $500,000 or
2. can or have provided a current signed Qualified Accountant’s Certificate declaring that you have net assets of at least $2,500,000 or a gross income for each of the last two financial years of at least $250,000 per year or
3. can certify you are a ‘professional investor’ (which is a permitted subcategory of Wholesale Client), which includes any person who

1. controls at least $10 million (including any amount held by an associate or under a trust the person manages) for the purpose of investment in securities
2. is a licensed or exempt dealer and is acting as principal
3. is a regulated superannuation fund, an approved deposit fund, a pooled superannuation trust, or a public sector superannuation scheme within the meaning of the Superannuation Industry (Supervision) Act 1993 if the fund, trust or scheme has net assets of at least $10 million
4. is a person who is regulated by APRA (other than a trustee of a superannuation fund, an approved deposit fund, a pooled superannuation trust or a public sector superannuation scheme) or
5. is a person who is a body registered under the Financial Corporations Act 1974 or
6. is a listed entity or a related body corporate of a listed entity or
7. is an exempt public authority or
8. is a person who is a body corporate or an unincorporated body that carries on a business of investment in financial products, interests in land or other investments, and for those purposes invests funds received following an offer or invitation to the public where the terms of the offer provided for the funds subscribed to be invested for those purposes or
9. is a foreign entity that, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.

The information accessible on this web page is issued by Ruffer. Ruffer holds Australian financial services licence number 526358 under the Corporations Act 2001 (Cth) authorising it to provide certain financial services to Wholesale Clients only. Ruffer is not licensed to provide financial services to retail clients in Australia.

All website content in respect of the fund is issued by the The Trust Company (Re Services) Limited (Responsible Entity as responsible entity of, and issuer of units in the fund and prepared by Ruffer LLP (Ruffer) as investment manager for the fund. All other website content is issued and prepared by Ruffer. The investment manager of the fund is Ruffer.

This is provided for general information purposes only and is not to be construed as a solicitation of an offer to buy or sell any financial product. Accordingly, reliance should not be placed on this information as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation. Whilst every effort is taken to ensure the information in this document is accurate, its accuracy, reliability or completeness is not guaranteed. A product disclosure statement in relation to the fund (PDS) issued by the Responsible Entity dated 25 November 2020 is available. You should obtain and consider the PDS before deciding whether to acquire, or continue to hold, an interest in the fund. Initial applications for units in the fund can only be made pursuant to the application form attached to the PDS.

Past performance is not a reliable indicator of future performance.

Neither the Responsible Entity nor Ruffer guarantee repayment of capital or any particular rate of return from the fund. Statements of fact have been obtained from and are based upon sources that the Responsible Entity and Ruffer believe to be reliable. Neither the Responsible Entity nor Ruffer give any representation or warranty as to the reliability or accuracy of the information contained in the PDS. All opinions and estimates included in the PDS constitute judgements of the Responsible Entity and Ruffer as at 25 November 2020 and are subject to change without notice.

I have read and understood the above information, the Terms, and confirm that I am a Wholesale Client, and not a retail client, based in Australia.

The information on this website does not constitute an offer to sell any securities to or for the benefit of any US Person (being any person who is in either of the following two categories: (a) a person included in the definition of ‘US person’ under Rule 902 of Regulation S under the US Securities Act of 1933, as amended, or (b) a person excluded from the definition of a ‘Non-United States person’ as used in the US Commodity Futures Trading Commission Rule 4.7)), or the solicitation of any offer to buy securities on the part of or for the benefit of any US Person. The shares or units in any of the Ruffer Funds have not been, and will not be, registered or available for public distribution in the United States of America.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the jurisdiction you have selected is the applicable jurisdiction for the intended investment activities
3. confirm you are accessing this website in compliance with the laws and regulations of the jurisdiction you have selected, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this Website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

Important information about the Ruffer Funds

In particular, interests in any Ruffer funds have not been, and will not be, registered under the US Securities Act of 1933, as amended (the ‘1933 Act’) or qualified under any applicable US state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the direct or indirect benefit of any US Person (as defined above).

Such interests will be subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any US Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom. If you are unsure as to whether you satisfy the foregoing conditions, please seek legal advice before proceeding.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The information provided on this website does not constitute and should not be construed as an offer of, invitation or proposal to make an offer for, recommendation to apply for or an opinion or guidance on a financial product, service and/or strategy in any jurisdiction. Whilst great care has been taken to ensure that the information contained in this website is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken or not taken in reliance thereon.

The information provided on this website is given for information purposes only to sophisticated and qualified persons. It is not intended for and should not be distributed to members of the public.

If you do not understand the contents of this website you should consult an authorised financial advisor.

This website is for the exclusive use of sophisticated and qualified investors, defined as per the laws and regulations of the country you reside in. If you are an individual investor, please contact your financial advisor.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree’ you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

I have read the above information and wish to proceed.

The use of this website is subject to the following terms, the terms and conditions set out in the disclaimer, together with any additional terms and conditions that apply to individual webpages, documents or other attachments contained within this website (the ‘Terms’).

By clicking ‘Agree' you

1. expressly acknowledge you have read and understood the Terms and agree to abide by them
2. represent and warrant the location you have selected reflects your country of residence for the purposes of any investment activities and you are not resident in the United States of America and are not a US Person
3. confirm you are accessing this website in compliance with the laws and regulations of the country in which you reside, and all other applicable laws, rules and regulations, including those relating to data privacy, international communications and export of technical or personal data.

Access to this website

It may be unlawful to access or download the information contained on this website in certain countries and Ruffer and its affiliates disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the United Kingdom, the country in which you are residing or domiciled or the country from which you access the website.

If you are acting as a financial adviser or intermediary, you agree to access this website only for the purposes for which you are permitted to do so under applicable law.

Selling restrictions

The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.

I have read the above information and wish to proceed.