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London SW1E 5JL
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75008 Paris, France
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Ruffer LLC
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  • Charity Assets Trust disclosures

Charity Assets Trust disclosures

SPECIFIC INVESTOR DISCLOSURES
This document sets out additional disclosures which Ruffer AIFM Limited (RAIFM), as the Manager of Charity Assets Trust (CAT), is required to make to investors in CAT under those rules of the Financial Conduct Authority which implement The Alternative Investment Fund Managers Directive of the EU.

The disclosures set out below in each case reference the relevant paragraph of the most recent Scheme Particulars of CAT.

Has there been any guarantee granted under any leveraging arrangement by RAIFM in relation to CAT? (Paragraphs 4.2.2 and 4.3.2)
No.

Have the maximum levels of leverage of CAT changed from the levels set out in the Scheme Particulars of CAT? (Paragraph 4.2.4)
No.

Has there been any change to the right of re–use of collateral in relation to CAT? (Paragraph 4.3.2)
No. There are no collateral and asset re–use arrangements currently in place in relation to CAT.

Have there been any changes to the liability of Bank of New York Mellon (International) Limited as Trustee of CAT from those summarised in the Scheme Particulars of CAT? (Paragraph 9.2.7)
No.

What percentage of CAT’s assets are subject to special arrangements arising from their illiquid nature (including, but not limited to, suspension of the issue, cancellation, sale and redemption of units and deferrals on redemptions)? (Paragraph 13.9.1(a)
No assets of CAT are subject to such special arrangements.

What new arrangements are there for managing the liquidity of CAT including, but not limited to, any material changes to the liquidity management systems and procedures employed by RAIFM as Manager of CAT beyond those set out in the Scheme Particulars of CAT? (Paragraph 13.9.1(b))
None.

 

As at 31 March 2024

What is the risk profile of CAT and what risk management systems are employed by RAIFM as Manager of CAT to manage those risks? (Paragraph 13.9.1(c))


CAT risk profile

 Risk management systems

 

What are the current maximum levels of leverage of CAT?

Gross method 2.5 times net asset value
Commitment method 1.5 times net asset value

 

Have the maximum levels of leverage of CAT changed from the levels set out in the Issuing Document?
No.

 

What is the current level of leverage employed by CAT?

Gross method 1.50 times net asset value
Commitment method 1.05 times net asset value
London
Ruffer LLP
80 Victoria Street
London SW1E 5JL
Directions | Map +44 (0)20 7963 8100
Paris
Ruffer S.A.
103 boulevard Haussmann
75008 Paris, France
Directions | Map +33 (0)1 88 45 02 54
New York
Ruffer LLC
300 Park Avenue
New York NY 10022
Directions | Map +1 917 947 3003
Edinburgh
Ruffer LLP
31 Charlotte Square
Edinburgh EH2 4ET
Directions | Map +44 (0)131 202 1602