Wall Street traders have been scratching their heads over a mystery investor that has bought over $120m of derivative protection, with some questioning if its true identity is the UK-based Ruffer investment fund, according to reports.
Although the mystery trader has been snapping up derivatives in US markets, purchasing contracts priced at half a dollar, at least four Wall Street investors who are familiar with the trades believe the buyer is $20bn UK investment firm Ruffer, according to the FT. Ruffer declined to comment to the FT on the trades but last year revealed it had been buying volatility protection in an investment presentation: "We regard them as necessary for the scenario we most fear; a major correction in both bond and equity markets." Ruffer names Vaughan as CEO; Maxey to focus on CIO role It com...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
