LF Ruffer Equity & General C

Global equity portfolio which also makes use of cash and bonds.

  • 467.87p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 511.59p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 5.00% 1.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.20%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.27%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.20%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 19 January 2021

The investment objective of Ruffer Equity & General Fund is to provide capital growth by investing in a diversified global portfolio of predominantly equities. The portfolio also typically includes significant exposure to cash and bonds. Historically this asset allocation has resulted in volatility below that of the market and a degree of protection from falling markets, at the expense of reduced participation in rising markets.

Fund summary

Sector Flexible Investment
Structure OEIC
Launched September, 2012
Size £166m
Yield 0.20%
Charging basis Income
Dividends paid 15 May, 15 Nov

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 1.00%
Additional bid/offer spread 0.00%
Annual management charge 1.20%
Ongoing charges figure 1.27%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -1.42%
  • 17/18 -0.05%
  • 18/19 -0.25%
  • 19/20 -0.92%
  • 20/21 -0.50%

Bestinvest MRI

  • 3 years -0.55%
  • 5 years -0.63%
  • Career -0.21%
  • 3 years 15.20%
  • 5 years 5.30%
  • Career 33.30%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Alex Grispos

Grispos graduated from Imperial College with a First Class degree in Mechanical Engineering. He started in equity research in 1998 at Alpha Trust in Greece, then worked in venture capital for six years. He joined Top Technology Ventures in the UK, and subsequently became Investment Manager with RTF based in London and St. Petersburg, Russia. Grispos joined Ruffer in 2005

Track record

Alex Grispos has 14.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.21%. During the worst period of relative performance (from February 2009 - August 2020) there was a decline of 53% relative to the index. The worst absolute loss has been 12%.

Periods of worst performance

Absolute -12.00% (December 2019 - March 2020)
Relative -53.00% (February 2009 - August 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 30 June 2020

8.5% Science Group Plc
4.3% Ishares Physical Gold
3.7% Berkshire Hathaway Inc
2.7% Titan Cement Intl Sa
2.6% Vivendi
2.3% Zegona Communications Plc
2% Milestone Japan Value Fund
1.9% Balfour Beatty
1.8% Attraqt Group Plc
1.8% Fairfax Finl Hldgs Ltd
Source: Trustnet

Key Investor Information - Income

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Key Investor Information - Accumulation

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