Ruffer managers boost sterling to highest level 'for many years'

Managers of the Ruffer Investment Company have raised exposure to sterling on the portfolio to its highest position ‘for many years'.

Hamish Baillie and Steve Russell (pictured) said the Greek crisis is deemed to have passed and people are less worried about commodity falls, leading investors to concentrate their concerns once again on when interest rates will rise in the UK and the US. Exposure to the trust's base currency sterling has been raised to 79% at a time when the currency has displayed relative strength in recent months compared to other developed market currencies. "[In July] markets recovered some poise, as the latest Greek crisis was deemed to have passed and commodity falls, of course, can be viewed e...