Is Ruffer the mystery trader snapping up $120m of portfolio protection? - report

Wall Street traders baffled by mystery trader

Natalie Kenway
clock • 1 min read

Wall Street traders have been scratching their heads over a mystery investor that has bought over $120m of derivative protection, with some questioning if its true identity is the UK-based Ruffer investment fund, according to reports.

Although the mystery trader has been snapping up derivatives in US markets, purchasing contracts priced at half a dollar, at least four Wall Street investors who are familiar with the trades believe the buyer is $20bn UK investment firm Ruffer, according to the FT. Ruffer declined to comment to the FT on the trades but last year revealed it had been buying volatility protection in an investment presentation: "We regard them as necessary for the scenario we most fear; a major correction in both bond and equity markets." Ruffer names Vaughan as CEO; Maxey to focus on CIO role It com...

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