Ruffer CIO Henry Maxey purchases £5.3m worth of shares in flagship trust

Follows ‘worst year’ in its history

Ruffer chief investment officer Henry Maxey has poured more than £5.3m into Ruffer Investment Company (RICA) shares, after 2023 marked the worst year in the trust's history.

According to a regulatory filing, the CIO bought 2,000,000 shares in the £1bn trust last Tuesday (12 March) at a price of 265.36p per share, a 5% discount to its 280p net asset value. The trust said disclosure of this purchase is not a regulatory requirement, but noted it was felt by the directors to be "of interest to shareholders". 2023 was Ruffer Investment Company's worst year since its launch in 2004, with the trust posting a 6.2% decline on a NAV total return basis, and a 10.6% share price drop. 'The worst 12 calendar months in the history of Ruffer Investment Company' On ...