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

All articles

The bull market in belief
December 2022: With equity valuations having fallen from their highs, investors are eyeing up stocks once again. Here, Duncan MacInnes discusses why another market rally will rely more on fantasy and belief than on healthy corporate earnings.
Task Force on Climate-related Financial Disclosures 2022
Our second TCFD Report provides an update on how we consider climate change risks and opportunities in our clients’ portfolios, and some of our recent engagements with companies on better climate outcomes and with data providers to generate more useful metrics.
An opportunity at our fingerTIPS
November 2022: Investors are facing a pernicious combination of volatile inflation and an impending recession. After the widespread sell-off across asset classes this year, Jasmine Yeo asks if there may now be an opportunity to take a calculated risk.
The case for cash
Holding cash is not usually considered a courageous move by active investors. But here, Duncan MacInnes suggests that at times, a high cash allocation is in fact an act of bravery. And now, more than ever, breaking convention may be crucial for investors.
Cash is trash, or is it?
In the October edition of Duncan MacInnes' Citywire column, he explains why Ruffer is sitting on the highest cash weighting in its history.
Naming and taming the bear
What can history teach us about investing in bear markets? Jos North and Jasmine Yeo examine the strategies which have prevailed in previous drawdowns and ask what might work this time around.
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.
Reasons to Be Fearful, Part 3*
October 2022: So far this year, we’ve seen a painful but orderly repricing of risky assets. Now, we fear something worse – a possible liquidation event. One in which owners of risky assets like equities and credit are forced into a sudden rush for the exit.
Ruffer round up Q3 22
October 2022: Investment Manager Jasmine Yeo joins Rory McIvor to review a quarter of dizzying market activity. They discuss the volatility of UK gilts over recent weeks, consider the potential for a liquidation event in asset markets and provide a portfolio update.
LGPS: liquidity lessons from the LDI crisis
The long-term hunt for yield has driven LGPS funds to adopt a liquidity barbell, with listed equities and bonds at one end of the spectrum and illiquid alternatives at the other. But these assets’ performance can be worryingly correlated at times of market stress.
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