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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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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

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Annual Stewardship Report
Our 2024 report outlines Ruffer’s key stewardship activities, enhancements to our fossil fuel policy and our sustainability performance ranking model.
Apr 2025 portfolio update
Political and technological upheaval is injecting significant volatility into global markets. We believe this is set to continue as the pervasive faith in US exceptionalism is undermined.
Follow the fiscal
April 2025: Long-awaited shifts in Germany and China are likely to reinforce the equity market rotation away from the US.
Q1 2025 Report
Our latest report introduces our new measure for gauging the long-term sustainability of companies’ business models. We also have the usual round up our stewardship activities during the quarter.
Investment Review
April 2025: Equities are at maximum valuations, investors are at peak investedness, and now a regime change which markets have not yet digested. Jonathan Ruffer asks if this is one of the rare occasions when a market crisis not only foretells but contributes to the economic hardship to come.
The Ruffer Review 2025
The Ruffer Review 2025 offers evaluations of current market and economic conditions, assessments of possible futures and some pertinent lessons from history.
The anti-singularity machine
Optimism about superintelligence is fuelling market behaviour which looks far from intelligent, driving valuations far from the fundamentals. When the correction comes, we expect significant market fallout – and opportunities.
A Thousand Year Project
Merlin Hanbury-Tenison is on a mission to restore Britain's temperate rainforests, for the health of mankind and the planet.
The poetical science of programming
Ada Lovelace was the Countess who counted – a visionary computing pioneer who transcended the gender norms of the Victorian era.
Europe’s power predicament
Caught between US protectionism and Chinese mercantilism and now bereft of cheap Russian energy, the EU faces an existential question: how to secure its strategic autonomy and future competitiveness.
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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