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

Market views

The DC correlation conundrum
DC pension schemes are beginning to allocate more to illiquid assets – looking beyond conventional asset classes to achieve real capital growth over the long-term. Here we look at how DC schemes should best complement illiquid assets with an uncorrelated, liquid, and diversified strategy.
Lessons for DC schemes from the LDI crisis
DC schemes and their investors can take some crucial lessons from recent whipsaws in the UK government bond market.
The return of something to lose for pension asset allocators
Investor behaviour is both instinctive and learned. Low interest rates have taught investors to allocate to ever-riskier assets in the pursuit of returns. The cost of doing so, in the form of low or negative 'risk-free' rates, was minimal. But with rising interest rates, the risk-free rate now carries value - investor behaviour may be forced to change once again.
DC pension schemes
Conventional strategies have served defined contribution (DC) pension scheme investors well for the past half century. But this year – as inflation has taken hold and policymakers scramble to contain it – the vulnerability of bonds and equities has been laid bare.