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.
Location
Select your Location
Visitor Type
Select investor type
Select investor type
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

In conversation with Jon Dye

Pause icon
0.00
0:00
Volume icon
CC
Fullscreen icon
Play icon
Jon Dye
Head of Equities
Gemma Cairns-Smith
Investment Specialist

Jon Dye joins Investment Specialist Gemma Cairns-Smith to discuss his career, his perspectives on markets, and what he will bring to the role of Co-CIO.

With 16 years at Ruffer spanning macro analysis, equity research and portfolio decision-making, Jon reflects on the experience that has shaped his thinking.

DOWNLOAD TRANSCRIPT

Jon Dye
Head of Equities
Gemma Cairns-Smith
Investment Specialist
GET IN TOUCH
Piers Wheeler
Director – Institutional
Developing and executing asset management strategy for capital raising and strategic relationship management. Coverage includes EMEA, Asia and Australia. Piers joined Ruffer in 2021, having previously worked with asset management firms including Eastspring, AMP Capital and LEK as a strategic consultant. He holds a MA from the Bayes Business School and a BA (Hons) from the University of Oxford.
Annabel Paterson
Annabel Paterson
Senior Associate – Institutional
Joined Ruffer in 2021, having graduated with a first class honours degree in land economics from the University of Cambridge. After two years working with the UK Private Wealth team and completing her IMC and CFA Level I qualifications, she now supports Ruffer’s global business development and client servicing efforts.
Always a puzzle never a game
Tony Dye was CIO of one of the UK’s largest pension fund managers in the 1990s. Most people knew him for his value-driven investment approach and his warnings on the dot.com bubble. But I knew him as Dad. His experience taught me some key lessons which are every bit as valuable today – arguably more so.
Read
Grain expectations
June 2026: Relative to oil, agricultural commodities are underpricing geopolitical risk, and we think they offer an asymmetric hedge as fertiliser constraints could put upward pressure on crop prices.
Read
Shadow banking: the next financial crisis?
Guest contributor Ben Hunt looks at the mechanics of the current boom in private credit and explains why he thinks it may end in a major bust.
Read
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