An extension of the popular Ruffer Investment Strategy, the LF Ruffer Diversified Return is an absolute return vehicle which has the protection of investor capital at the heart of its process. Managed by Duncan MacInnes and Ian Rees, the fund aims not to lose any money on any 12-month rolling basis – with a specific focus on providing genuine protection in times of market stress. The vehicle is global and completely unconstrained, allowing the managers to invest across various asset classes, including equities, fixed income, currencies and derivatives – backed by a large desk of both macroeconomic and stock selection specialists.
What’s covered in this episode:
- Being an all-weather fund and the benefits to investors
- Why capital protection is at the centre of the investment process
- The end of a three-decade long bull market and why investing in bonds and equities may not cut the mustard as a diversification strategy going forwards
- Why conventional government bonds no longer provide investors with protection
- How the team take an extra step on risk management by evaluating how their portfolio would do in any scenario – even a World War
- Why the fund is more than just a home for the eternal pessimist
- The managers explain the investment process and how a team of 30 analysts can all be heard
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