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.
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London
Ruffer LLP
80 Victoria Street
London SW1E 5JL
Paris
Ruffer S.A.
103 boulevard Haussmann
75008 Paris, France
New York
Ruffer LLC
300 Park Avenue
New York NY 10022
Edinburgh
Ruffer LLP
31 Charlotte Square
Edinburgh EH2 4ET

Fiona Ker

Fund Manager
Joined Ruffer in 2017 from Ernst & Young. She holds an honours degree in singing performance from the Royal Conservatoire of Scotland. Fiona manages portfolios for institutions with a focus on international clients, and is a member of the CISI and the Institute of Chartered Accountants for England & Wales.
Articles by Fiona
Apr 2026 portfolio update
Fund Manager Fiona Ker and Investment Specialist Gemma Cairns-Smith will discuss the most pressing market themes so far this year, and how the Ruffer strategy is positioned to navigate them
Whit’s fur ye’ll no go by ye
A diverse set of skills and experience can help firms to avoid groupthink. Read how training and then working as an opera singer has helped one of our fund managers.
Jan 2026 portfolio update
Fund Managers Fiona Ker and Alexander Chartres discuss our latest thinking on inflation, geopolitics, and equity market risks and opportunities and how the Ruffer strategy is positioned to navigate them.
Jul 2025 portfolio update
Fund Manager Fiona Ker and Investment Specialist Gemma Cairns-Smith share Ruffer’s latest views on global markets, explain how we are positioning portfolios to navigate these dynamics, and outline where we see the greatest risks and opportunities ahead.
Inflation volatility demands investors think differently
The asset management industry has thrived in a disinflationary world for 40 years, favoring capital. If labor gains dominance, how will that affect asset allocation? Investment Manager Fiona Ker explores inflation volatility with the Portfolio Construction Forum.
Winning by not losing
Investment Manager Fiona Ker and James Dunn from The Inside Network discuss Ruffer’s outlook for markets in 2023 and beyond.
Led by the Fed
January 2023: Of the many storylines to unfold in 2022, only one really mattered to investors – rising interest rates and falling asset prices. The chief protagonist in this tale – the Federal Reserve - conducted one of the fastest and steepest rate hiking cycles in financial history. But how much further do they need to go?
A view from the bridge
January 2021: 2020 will loom large on financial markets for many years to come. As we cautiously make our way out of the crisis, Duncan MacInnes and Fiona Ker review the more startling developments of the last year.
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