Overview
Ruffer Investment Company aims to achieve consistent positive total returns. Investments are actively managed and chosen without reference to any benchmark. The approach is one of stock picking, the manager describes this as “like a pig hunting for truffles, where the truffle is the investment whose rewards outweigh the risks”.
The principal objective of the Company is to achieve a positive total annual return, after all expenses, of at least twice the Bank of England base rate. The Company predominantly invests in internationally listed or quoted equities or equity related securities (including convertibles) and/or bonds which are issued by corporate issuers, supra-nationals or government organisations.
The Company invests across a broad range of assets, geographies and sectors in order to achieve its objective, with an underlying focus on capital preservation. The allocation of the portfolio between equities and bonds will vary from time to time so as to enable the Company to achieve its objective.
you can access its website here
Fundamentals
Price
Research History
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07 Aug 2019 7 min read
QuotedData’s economic roundup – August 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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22 Mar 2019 2 min read
QuotedData’s investment companies roundup – March 2019
QuotedData’s investment companies roundup – March 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2019. Kindly sponsored by Baillie Gifford. JPMorgan Chinese, Fidelity China and Pacific Horizon benefited from a booming Chinese market in […]
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12 Oct 2018 2 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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15 Aug 2018 2 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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2 min read
QuotedData’s Economic round up – August 2018
QuotedData’s Economic round up – August 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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13 Mar 2018 2 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Oct 2017 2 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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01 Mar 2021 3 min read
QuotedData’s morning briefing 1 March 2021
In QuotedData’s morning briefing 1 March 2021 – SDCL Energy Efficiency Income (SEIT) noted that further to its announcement on 24 December 2020, it has completed the acquisition of a series of portfolios of commercial and industrial on-site solar and energy storage projects in the United States, together with a 50% interest in the platform that has […]
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18 Jan 2021 3 min read
Ruffer reflects on good year and addition of bitcoin to the portfolio
The flexible investment sector company, Ruffer (RICA), which invests using what it describes as an ‘all-weather’ approach, reported annual results to 31 December 2020. The share price return of 17.0% and the NAV return of 13.5% for the calendar year 2020 marks two consecutive years of good returns for shareholders (+23% in NAV performance over […]
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16 Dec 2020 2 min read
QuotedData’s morning briefing 16 December 2020
In QuotedData’s morning briefing 16 December 2020: Ruffer backs Bitcoin – in a surprise move, the trust says “One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company’s exposure to gold. The exposure to […]
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11 Sep 2020 3 min read
Inflation warning
At the end of last year, there was a growing feeling in many quarters that markets had run ahead of themselves and the global economic expansion since the financial crisis was faltering. Investors casting around for a safe place to hide had the option of choosing one of a handful of funds that focus on […]
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10 min read
Ruffer announces an ‘excellent’ set of results
Ruffer has announced its annual results for the year ended 30 June 2020, which the chairman, Ashe Windham has described ‘as an excellent set of audited results’. He goes on to say that this is the result that the Directors were confident that the Manager would achieve when the crisis, of whatever stamp and timing, […]
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3 min read
QuotedData’s morning briefing 11 September 2020
In QuotedData’s morning briefing 11 September 2020: Schroder Asian Total Return has published its interim results for the half year ended 30 June 2020. The chairman, Sarah MacAulay, says that, the trust provided a NAV total return of 6.1% in the period, outperforming both the return of the reference Index of 0.7% and of the peer group […]
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13 Jul 2020 2 min read
QuotedData’s morning briefing 13 July 2020
Ruffer (RICA), the flexible investment sector fund, delivered total NAV and share price returns of 10.1% and 12.4%, respectively, over the year ending period to 30 June. The portfolio’s protective assets led returns through the downturn, with positive contributions over the last six months coming from credit protection (+6.2%), gold (+5.1%), index-linked bonds (+3.9%) and option protection (+3.3%). The equity book was […]
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08 Oct 2019 1 min read
QuotedData’s other news 8 October 2019
In QuotedData’s other news 8 October 2019 – Yesterday evening, Ruffer announced that effective 31 October 2019, Steve Russell is stepping down as one of the fund managers. Hamish Baillie and Duncan MacInnes will continue to manage the portfolio. Steve has been with the company since 2004 and will remain part of the the wider investment process […]
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20 Sep 2019 3 min read
Ruffer annual results reflect challenging year
Ruffer annual results reflect challenging year – Ruffer Investment Company (RICA), the un-benchmarked multi-asset investor (part of the AIC’s ‘flexible investment’ sector), has released annual results to 30 June 2019. The objective of RICA is to achieve a positive total annual return, after all expenses, of at least twice the Bank of England (BOE) bank rate. […]
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1 min read
QuotedData’s other news 20 September 2019
In QuotedData’s other news 20 September 2019 – Tufton Oceanic Assets today announced that it has raised gross proceeds of $31m through a placing. The company invests in a portfolio of secondhand commercial sea-going vessels. Further to announcements made earlier this month with regard to a proposed placing, Merian Chrysalis says that indicative orders significantly in excess of […]
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23 Jul 2019 3 min read
Ruffer reports a loss
Ruffer reports a loss – Ruffer Investment Company has published unaudited results for the year ended 30 June 2019. For a company which is dedicated to preserving investors’ capital, the results were a disappointment. The total return on the NAV was -0.9% but a widening discount meant that the return to shareholders was -5.7%.The dividend […]
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12 Sep 2018 4 min read
Ruffer reports returns in line with its objective
Ruffer reports returns in line with its objective – Ruffer Investment Company (RICA) has released its annual report for the year ended 30 June 2018. The NAV of the company rose by 0.8% on a total return basis. The target return for the twelve month period to the end of June was 0.8%. Without its dividend of 1.8p per […]
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18 Sep 2017 2 min read
Ruffer returns in line with long term averages
Ruffer returns in line with long term averages – Ruffer Investment Company has published results for the year ended 30 June 2017. Over the period, the NAV total return was 8.75%, the return to shareholders was 12.9% and the dividend fell to 2.6p from 3.4p. Ruffer’s target return is twice the Bank of England base rate. This […]
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23 May 2017 1 min read
Investment Trust Insider on Aberdeen Diversified Income & Growth
Aberdeen Diversified Income & Growth (ADIG) the reincarnation of BlackRock Income Strategies, is now up and running. As yet, although the discount has narrowed a little since launch (currently 7%), there appears to be some way to go before ADIG is ranked alongside competitors such as Personal Assets (PNL), Ruffer (RICA) and Seneca Global Income […]
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06 Feb 2017 1 min read
14 investment trusts for income and growth in 2017
Investors looking forward to a period of calm in 2017 might be disappointed, but David Prosser has the trusts experts are backing to navigate further storms. Having just been through a year of unprecedented political upheaval that sent financial markets spinning, many investors will be assuming 2017 cannot possibly be so tumultuous. The reality, however, […]
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16 Sep 2016 2 min read
Ruffer reports drop in NAV despite better second half
Ruffer has published its results for the year ended 30 June 2016. The NAV fell by 1% on a total return basis. The target return, being twice the Bank of England base rate, amounted to 1% over the financial year and by way of context the FTSE All-Share Total Return index rose by 2.2%. Earnings […]
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25 Feb 2016 3 min read
Ruffer – second half of 2015 was difficult for capital preservation
Ruffer Investment Company has announced its interim results for the half year ended 31 December 2015. During the period, the company’s NAV per share from 218.76p to 206.98p, which after allowing for dividends of 1.7p paid during the period, equates to a total return of -4.6%. The Company’s share price also fell by 4.6%, on […]
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11 Sep 2015 2 min read
Ruffer’s index-linked and Japanese exposure benefit investors
Ruffer has published its annual report for the year ended 30 June 2015. Over the year the total return on net assets was 7.8%. The dividend was maintained at 3.4p per share. the shares moved from trading on a discount of 1.8% to a premium of 1.9% and so the return to shareholders was 11.9%. […]
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26 Feb 2015 1 min read
Ruffer benefits from index-linked gilt exposure
Ruffer syas that over the six months from 1 July 2014 to 31 December 2014, the net asset value per share of the Company rose by +3.9% after allowing for the dividend of 1.7p paid during the period. The Company’s share price performed better still (+6.8%) as the shares moved from a discount to a premium. […]
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29 Sep 2014 1 min read
Ruffer – dull performance precludes a crash?
RICA : Ruffer – dull performance precludes a crash? Ruffer Investment Company has published its annual accounts for the year ended 30 June 2014. Over the period its net asset value fell from £2.139 to £2.065, which after dividends translated into a negative total return of 2.6%. The share price fell by 6.5% over the period. […]
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28 Feb 2014 1 min read
Ruffer : RICA – interim report
Ruffer failed to meet its objective of producing an absolute return of at least twice the Bank of England base rate in the second half of 2013 as its net asset value total return was -0.55% over the period. The report points to the strength of sterling, especially against the US dollar, as one factor behind this.
Upcoming Events
In The Press
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23 Feb 2021 2 min read
What the wealth preservation investment trusts are telling us
What the wealth preservation investment trusts are telling us The best wealth preservation trusts and how they can help you Investors’ Chronicle, February 16, 2021 By Mary McDougall There’s a lot to learn from wealth preservation investment trusts, which broadly aim to protect and grow assets in real terms over time. After all, shouldn’t that be […]
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11 May 2020 2 min read
Investment trust insider on the return of inflation
Investment trust insider on the return of inflation – James Carthew: Ruffer, Capital Gearing & Personal Assets make a good point on inflation The Association of Investment Companies’ Flexible Investment sector encompasses funds with a diverse range of investment objectives. Among those whose primary aim is to preserve investors’ wealth, the trust that seems to have […]
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22 Jul 2019 2 min read
How to invest in absolute return sector funds in falling markets
Investors are nervous and perhaps they have every reason to be. A decade-long bull market appears to be stuttering, global growth is slowing and political tensions are worsening. In such an environment, it can be hard to know where to turn. In the investment companies market, many investors have been putting their faith in a […]
