Our aim?

WELCOME TO RUFFER

All-weather investing

Seeking consistent positive returns.

Come rain or shine.

Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.

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

Ruffer provides investment management services for financial advisors and wealth managers across the country.

Your clients like making money, and hate losing it. Most will hate losing money more than they like making it.

At Ruffer, this shapes our investment philosophy, and the way we invest.

We offer a distinctive all-weather approach, designed to perform in all market conditions. Our focus is on capital preservation and prudent growth.

INVESTMENT APPROACH

At a glance

We do	One thing – investment management
The strategy	Global, multi-asset, absolute return
So far	A 31 year track record, 7.9% net annualised returns as at 30 April 2026
Stewardship	Environmental, social and corporate governance (ESG) issues are integrated into our process
Investors	£18.5 billion under management as at 30 April 2026
Offices	London, New York, Paris, Edinburgh and Guernsey
Founded	1994
People	Over 240 work at Ruffer as at 30 April 2026
Ownership	Independent private partnership

Past performance is not a guide to future performance. Regulatory performance disclosure

GET IN TOUCH

Joshua Gunson

Director – UK Wholesale

T +44 (0)20 7963 8254

Joined Ruffer in 2010, working in the Product and Fund Relations teams. He holds a degree in philosophy from the University of Nottingham and an MBA with distinction from Bayes Business School, and focuses on building relationships with financial planners and wealth managers throughout the UK.

Tim Gordon

Director – UK Wholesale

T +44 (0)20 7963 8161

Joined Ruffer in 2021 to develop UK wholesale distribution. He previously spent five years at Robeco developing their UK business and five years at SKAGEN as Head of UK Wholesale.

Our approach

How	Financial planners use Ruffer to bolster returns, provide diversification, and help control risk
Returns	Strong track record of positive returns with low correlation to conventional investment strategies
Protection	Positive performance through the dot.com bust, global financial crisis and covid-19
Perhaps	An attractive alternative to volatile equity markets
Philosophy	Unchanged since we started in 1994

Past performance is not a guide to future performance. Regulatory performance disclosure

Ruffer Review

Risk backwards

Five lessons from the first five decades of life reveal how we often get risk wrong. Resisting the lure of comfort and conformity is more important than ever.

19 mins | Chris Bacon

Read

Ruffer Radio

In conversation with Michael Biggs

What really drives the economic cycle? It’s not the total amount of debt – it’s the rate of change of new borrowing. Investment Specialist Gemma Cairns-Smith sits down with Ruffer’s Head of Macro Strategy Michael Biggs to explore his research into the credit impulse — the change in new borrowing that drives economic activity.

18 mins | Michael Biggs, Gemma Cairns-Smith

Read

Green Line

Strait lines, narrow choices

Apr 2026: With oil prices soaring, what will the impact on the global economy be? And how will policymakers react? We make the case for a stagflationary shock, but not all economies will be affected equally.

6 mins | Giorgio Curti

Read

An introduction to WS Ruffer Total Return Fund

An introduction to WS Ruffer Diversified Return Fund

Important information for investors

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.

WS Ruffer Investment Funds, the TM Ruffer Portfolio and their respective sub-funds are only registered for distribution 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. It is registered for public distribution in the UK, as well as other jurisdictions listed below. By clicking [‘Agree’] below, and accessing documentation in relation to these funds, you are warranting that you are an investor based in the UK.

If you are not an investor based in the UK, please review the information below before making your selection.

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. It is only registered for public distribution in the following jurisdictions: Belgium, Denmark, Finland, France, Germany, Ireland, Italy (qualified investors as defined under local law only), Luxembourg, the Netherlands, Norway, Portugal, Singapore (institutional and accredited investors only), Spain, Sweden, Switzerland and the UK. By clicking [‘Agree’] and accessing documentation in relation to the fund, 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 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/or 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. Neither Ruffer LLP or Ruffer S.A. have 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, 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.

I have read the above information and wish to proceed on the basis that I am either: (a) an investor based in the UK and accessing documentation in relation to WS Ruffer Investment Funds, the TM Ruffer Portfolio and their respective sub-funds, (b) an investor based in Belgium, Denmark, Finland, France, Germany, Ireland, Italy (qualified investors as defined under local law only), Luxembourg, the Netherlands, Norway, Portugal, Singapore (institutional and accredited investors only), Spain, Sweden, Switzerland or the UK and accessing documentation in relation to Ruffer SICAV (and its sub-fund Ruffer Total Return International), or (c) an investor whose receipt of documentation in relation to Ruffer SICAV (and its sub-fund Ruffer Total Return International) is permissible under the laws of the jurisdiction to which I am subject.

Please select Agree or Disagree

I have read the information above and wish to proceed

Agree

Disagree

Important information for investors

If you are not an investor based in the UK, please review the information below before making your selection.

Please select Agree or Disagree

I have read the information above and wish to proceed

Agree

Disagree

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

Your privacy matters

Our aim?