Ruffer Share Price (RICA)

So much for capital preservation. I don't understand how the performance is so poor when the managers were blowing about how the were so invested into inflation linked bonds. Usual fund management industry bs...

Bought @303p. Hoping for cash preservation.

With Covid, Ukraine, inflation and recession this has been a good safe home if you're looking for an element of cash preservation over the last 2 years. Another good home has been GOLD - e.g. SGLN (iShares Physical Gold).

Since Stockable post is deemed very correct. It is worth updating that Ruffer are pretty much out of equities as a tiny fraction. It continues to outperform the market YTD.

For sure, in a bull market, Ruffer Investment looks pedestrian at best. But we may no longer be in a bull market. Around that, inflation may not be a temporary blip. If that is the case and I believe it to be, then the Ruffer fund, in my opinion, is an attractive investment. For starters, it has relatively high exposure to both inflation-linked bonds and Gold (Through bullion and equities). At the same time, it holds stocks that it regards as having substantial resilience, including BP and Shell. The upside may be fairly limited but it goes out of its way to protect the downside through various shorting tools. It’s also largely unlimited in terms of what it can do - it’s not benchmarked against any particular index and has a multi-asset approach. That flexibility was demonstrated last year with a very successful trade in Bitcoin.

Do I think it offers stellar returns? No. But I believe that we may be entering a period of low returns for most investments. And this reminds me of a comment by Warren Buffett - rule number one in investing is not to lose money. In the current investing climate, simply protecting what you have, at least in real terms, may prove challenging.