Ruffer's Hamish Baillie and Steve Russell are predicting increased volatility in equity markets in the coming months with little protection on offer to investors.
The £339m Ruffer Investment Company lost 2.2% during the sell-off in August, a result managers Baillie and Russell (pictured) described as "disappointing". The pair blamed the poor performance on the portfolio's equity holdings and declines in inflation-linked bonds, as breakevens fell. In the trust's latest monthly investment commentary, the pair warned this difficult environment is set to continue and the worst of the falls may not be behind us, as markets experience further volatility ahead. Ruffer, Troy and Capital Gearing: Which trusts will guard your capital? "Although ...
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