Ruffer Investment Annual Assets To Rise, Confident In Portfolio

(Alliance News) - Ruffer Investment Co Ltd said Monday it expects to see a rise in annual net ...

Alliance News 13 July, 2020 | 7:07PM
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(Alliance News) - Ruffer Investment Co Ltd said Monday it expects to see a rise in annual net assets.

At June 30, Ruffer said its NAV per share stood at 245.81 pence compared to 224.98p at the same point the year before.

Ruffer's net assets rose to GBP444.4 million from GBP406.7 million.

The firm upped its dividend to 1.85p from 1.80p, taking its NAV total return for the 12-month period to 10%.

Ruffer's investment manager said it saw "good results" in financial 2020, despite a "time of significant market stress and profound economic uncertainty".

"The portfolio has achieved its objective of preserving shareholder capital regardless of the market conditions. Furthermore, we have produced some much-needed growth and feel confident about our prospects from here," the investment manager added.

Ruffer said its "all-weather" portfolio means it does "not need a crystal ball"

"In the downturn it was the portfolio's protective assets which generated the returns. In the last six months notable positive contributions came from credit protection, gold, index-linked bonds and option protection," the company said.

Ruffer added: "The negative side of the ledger was dominated by equities, where we were hit hard. Overall, in the acute period of the crisis the portfolio behaved in a balanced fashion and as we would expect."

Looking ahead, the investment firm said: "A portfolio of index-linked bonds, gold and value stocks (which benefit from stimulated GDP growth) and a significant sprinkling of protection against market calamity looks to be the right mix. We have survived the initial onslaught but this story is not over; economic events have gone from a jarring spectacle to a corrosive malaise which will play out over the coming months and maybe years."

Shares in Ruffer Investment closed 1.8% higher in London on Monday at 241.30 pence each.

By Paul McGowan;

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Ruffer Investment Company Ord 240.50 GBX -0.21

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