Ruffer trio bemoan 'disappointing' year but prepare to be 'greedy when others are fearful'

Equity exposure caused 'damage'

Laura Dew
clock • 2 min read
Steve Russell, manager of the Ruffer Investment Trust
Image:

Steve Russell, manager of the Ruffer Investment Trust

The managers of the Ruffer investment trust called 2018 a 'disappointing and frustrating' year in terms of returns, but are confident the protective investments they have in place will serve them well in 2019.

In a monthly investor report for December, managers Hamish Baillie, Steve Russell and Duncan MacInnes revealed they had cut their equity allocation in 2018 to its lowest level since 2008, to sit at just...

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