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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

Ruffer Review 2023

The fifth edition of our annual review
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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.

The views expressed in this article 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 article 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 document does not take account of any potential investor’s investment objectives, particular needs or financial situation. This document 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. Read the full disclaimer.

Ruffer LLC is the distributor for Ruffer LLP, serving as the marketing affiliate to introduce eligible investors to Ruffer LLP. Securities offered through Ruffer LLC, Member FINRA. You may find more information about Ruffer LLC by visiting brokercheck.com. Any enclosed or attached statements or material is for institutional investor use only and is not intended to be, nor shall it be construed as legal, tax or investment advice or as an offer, or the solicitation of any offer, to buy or sell any securities. Any enclosed or attached material is provided for informational purposes only as of the date hereof and is subject to change without notice. Ruffer LLC is generally compensated by Ruffer LLP for finding investors for the respective Ruffer LLP funds it represents. Ruffer LLP is a registered investment adviser advising the respective Ruffer LLP funds, and is responsible for handling investor acceptance. Any information contained herein, including investment returns, valuations, and strategies, has been supplied by the funds to Ruffer LLC and, although believed to be reliable, has not been independently verified and cannot be guaranteed. Ruffer LLC makes no representations or warranties as to the accuracy, validity, or completeness of such information. No representation or assurance is made that any fund will or is likely to achieve its objectives, benchmarks or that any investor will or is likely to achieve a profit or will be able to avoid incurring substantial losses. Past performance is no guarantee or indication of future results.

The Ruffer Review 2026
At a time of increasing political, economic and market disequilibrium, the Ruffer Review 2026 assesses a broad range of risks – and unearths some underappreciated opportunities.
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Iliads and Odysseys
We have entered a new era, where hard power rules. Safely navigating this New World Disorder will require the agile intelligence of Odysseus.
Read
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.
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