Ruffer

Was with the group for 11 years

Some 45 managers named

QE was once considered 'reckless'

Reduced equity exposure to lowest since crisis

Fearful of valuation divergence

Fed expected to hike next month

Further volatility expected

Managers fear further market falls

The £332.1m Ruffer investment company has announced a tap issue of 100,000 redeemable participating preference shares of £0.01 each, at a price of 216p per share.

Canaccord Genuity has recommended a number of closed-ended vehicles which investors should reconsider, including a handful still sitting on a premium.