Ruffer set to re-open more scaleable Total Return fund

Ruffer will re-open its Total Return fund for investment from 1 March after it soft-closed the vehic...

Ruffer will re-open its Total Return fund for investment from 1 March after it soft-closed the vehicle last year. The group soft-closed the product in early 2006 over concerns the vehicle would not be scaleable if it grew substantially above £400m, according to David Kellie-Smith, business risk director at the firm. Advisers have not been able to claim initial and trail commission on investments made into the vehicle since the soft closure and these will now be reinstated. Since Stuart Russell and David Ballance took over the fund late last year, they have managed it on a more defensive ...