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 Radio: Survival at 5?

Episode 20 

Ruffer Radio
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Matt Smith
Fund Manager
Rory McIvor
Investment Communications Specialist

Can the economy and markets survive interest rates at 5%? Not for long, suggests fund manager Matt Smith – either interest rates must come down or asset prices do.

In this quarter’s episode, we reflect on portfolio performance in 2023 and discuss what’s changed in outlook, and investor sentiment, compared to this time last year.

 

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Ruffer Radio: From the Chairman
October 2023: In this quarter’s episode of Ruffer Radio, Chairman Jonathan Ruffer shares his perspectives on the evolution of Ruffer’s all-weather investment approach since founding the firm in 1994. Jonathan reflects on the genesis of the firm, making mistakes, the character traits that shape his investment style, and the challenges and opportunities facing investors today. And crucially, how these are reflected in the Ruffer portfolio.
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Ruffer performance to 31 Dec %
2019 7.0 | 2020 16.7 | 2021 8.2 | 2022 5.7 | 2023 -7.0

Sources: Factset, Bloomberg

All mentions of Ruffer performance refer to Ruffer’s representative portfolio, which shows the performance of an unconstrained, segregated portfolio of £1 million set up in 1995, and follows Ruffer’s investment approach.

Past performance is not a guide to future performance. The value of investments and the income derived therefrom can decrease as well as increase and you may not get back the full amount originally invested. Ruffer performance is shown after deduction of all fees and management charges, and on the basis of income being reinvested. The value of overseas investments will be influenced by the rate of exchange.

The views expressed in this podcast are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument, including interests in any of Ruffer’s funds. The information contained in the podcast is fact based and does not constitute investment research, investment advice or a personal recommendation, and should not be used as the basis for any investment decision. This podcast does not take account of any potential investor’s investment objectives, particular needs or financial situation. This podcast reflects Ruffer’s opinions at the date of publication only, the opinions are subject to change without notice and Ruffer shall bear no responsibility for the opinions offered. This financial promotion is issued by Ruffer LLP. Read the full disclaimer.

London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France