(Alliance News) - Ruffer Investment Co Ltd on Monday said Steve Russell, a fund manager, will step down at the end of October.
Russell, who has been a fund manager since the company's inception in 2004, will "remain part of the wider investment process", Ruffer added.
Hamish Baillie and Duncan MacInnes will continue to manage the company's investment portfolio, Ruffer said.
Chair Ashe Windham said: "Steve Russell has been helping to manage the company's investments for 15 years and has provided invaluable support for Jonathan Ruffer, when he was lead manager, and since 2011 has provided similar backing for Bailllie, for which the directors are very grateful. This transition has been planned for some time."
Shares in Ruffer Investment closed 0.5% lower at 220.00 pence each in London on Monday.
By Eric Cunha; ericcunha@alliancenews.com
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Ruffer (RICA)