Update: A revised version of this profile was published in September 2026.

Ruffer Investment Company (ticker: RICA) is the only investment trust run by Ruffer LLP and it follows the firm's core strategy, looking to deliver positive returns over any given 12-month period. While the investment trust was launched in 2004, the strategy dates back to the mid-90s. Ruffer LLP manages £26bn assets, mostly for institutional investors, with the investment trust accounting for around £1bn.  Like Capital Gearing and Personal Assets, which have a similar wealth-preservation focus, Ruffer has been warning ...