'The worst 12 calendar months in the history of Ruffer Investment Company'

‘Too early to declare the soft landing’

2023 marked the worst year in the history of Ruffer Investment Company, with the trust offering a 6.2% decline on a NAV total return basis, and a 10.6% share price drop.

According to the trust's half year report to 31 December 2023, this "disappointing year" stands as the "worst in the history of Ruffer", with the investment manager and chair Christopher Russell both noting this fact. Currently trading on a 5.4% discount, according to data from the Association of Investment Companies, the £994m trust is set to pay a 2p per share second interim dividend. Ruffer backs UK bond allocation despite performance drag Explaining the reasons behind the tough year, the managers wrote: "By far the most obvious reason to be bullish was that most investors were ...