Ruffer has seen a decrease of £200m in its average fee earning funds under management in the year to 31 March, while operating profits have fallen 7.3%.
Funds under management fell 1% from £20.8bn to £20.6bn, while operating profit fell from £132.4m to £122.8m, the firm announced in its annual results. Ruffer ups UK equity exposure as 'storm clouds' clear Turnover - management fees and introductory fees, net of VAT and rebates - also decreased at the firm by 2.1%, falling £4m from £192.8m in 2018 to £188.8m this year. In anticipation of the fallout from Brexit, Ruffer has set up a subsidiary in Paris to enable it to "serve our clients in continental Europe after Brexit", which received approval earlier this year. The investment ...
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
