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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ruffer Investment Company Ltd | RICA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.00 | -1.10% | 270.00 | 09:57:54 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 271.00 | 268.50 | 272.00 | 273.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 29/02/2024 | Interim | GBP | 0.02 | 07/03/2024 | 08/03/2024 | 22/03/2024 |
| 03/10/2023 | Interim | GBP | 0.0165 | 12/10/2023 | 13/10/2023 | 27/10/2023 |
| 22/02/2023 | Interim | GBP | 0.0135 | 02/03/2023 | 03/03/2023 | 17/03/2023 |
| 04/10/2022 | Interim | GBP | 0.0125 | 13/10/2022 | 14/10/2022 | 28/10/2022 |
| 25/02/2022 | Interim | GBP | 0.015 | 10/03/2022 | 11/03/2022 | 25/03/2022 |
| 05/10/2021 | Interim | GBP | 0.0085 | 14/10/2021 | 15/10/2021 | 29/10/2021 |
| 05/10/2021 | Special | GBP | 0.007 | 14/10/2021 | 15/10/2021 | 29/10/2021 |
| 26/02/2021 | Interim | GBP | 0.0095 | 11/03/2021 | 12/03/2021 | 26/03/2021 |
| 10/09/2020 | Interim | GBP | 0.0095 | 24/09/2020 | 25/09/2020 | 09/10/2020 |
| 28/02/2020 | Interim | GBP | 0.0095 | 12/03/2020 | 13/03/2020 | 27/03/2020 |
| 20/09/2019 | Interim | GBP | 0.009 | 26/09/2019 | 27/09/2019 | 11/10/2019 |
| Top Posts |
|---|
Posted at 23/4/2024 13:09 by jellypbean It was always going to be very difficult for funds such as these to hold up during the period of rapidly increasing rates.When making comparisons, they should equally be compared to the kind of long duration bonds that are the stalwart of capital preservation, and which soon to be pensioners get lifestyled into (they have done much better than these). CGT got hit, RICA initially had hedges, but then these got too expensive, so they got hit, PNL had more gold so fared better. Global markets have only really gone up on the back of a few shares, and if RICA had piled into TSLA and Nvidia it's shareholders would have gone nuts. |
Posted at 25/10/2023 13:01 by bpdon Although RICA have always warned that sticky inflation was their biggest concern, they have also been clear that the challenge will likely be trading the inflation volatility.It seems reasonable to assume that efforts to tame inflation will eventually lead to a situation (disinflation / deflation) where CBs and governments want to take action that just reignites inflation. With > 40% invested in short term nominal bonds and cash, I don't see Ruffer as a one way bet on inflation. Anyways. Yes, RICA performance has been, and continues to be, poor. The swing from a circa 8% premium to 4% discount over the last 18 months has amplified this under performance. |
Posted at 22/8/2023 17:17 by jellypbean I would have thought they should do better than CGT and PNL, as RICA can use shorts etc. to benefit from falling prices. CGT won't do that, and it's hard to avoid price drops in defensives when rates are rising, without going v.short duration.Seems RICA dropped their protection from rising rates too soon? Also there's the premium/discount thing. |
Posted at 11/8/2023 14:05 by essentialinvestor jon, I thought it may be the well tested ...stoke nationalism as a distractionfrom every day (macro) issue. Xi has as good as said they will invade, perhaps a question of when, not if. Longer term XI has arguably done the West a favour in making China less internationally attractive for investment. RICA has been subject to sudden sell off this year, so I keep an eye for opportunities. Got down around 1.63 area but bounced back quickly. |
Posted at 04/7/2023 16:31 by bpdon I also added a small amount today. I can't see the NAV having changed much since 30th June. A discount > 6% is rare for RICA although understandable given the performance so far in 2023. |
Posted at 02/6/2023 16:30 by lowtrawler spoole5, RICA, CGT and PNL all achieve what they set out to achieve. The recent RICA falls do not prove them to be wrong and taking pleasure in those falls is both childish and ignorant.You clearly believe you can create your own asset allocation which is better suited to your needs. If so, I am very happy for you. The vast majority of investors do not have those skills and where investors wish to guard against a falling market, the wealth protection funds are one tool at their disposal. Suggesting that NAV reductions in a rising market is proof the wealth protection funds don't work and have no role is just silly. |
Posted at 02/6/2023 16:25 by jonwig I would add that RICA are proactive rather than reactive. They attempt to protect against likely future adverse scenarios. It's not impossible that they bought deep out-of-money puts against US debt default (as did some hedge funds). Imagine the profits that would have scored. I hold RICA for the same reason I have some gold. It's "just in case". |
Posted at 02/6/2023 12:41 by lowtrawler spoole5, over time, the trusts do preserve value but their key role is in being less volatile than other assets. Historically, they rarely lose more than 10% of NAV even when under stress.A valid argument against RICA would be that PNL / CGT do the same job but cheaper. However, RICA do adopt a different approach to PNL / CGT as was shown on the 2020 Covid drop. Also RICA are performing better than CGT over the last year. If wealth preservation strategies are a useful part of your portfolio, mixing RICA with CGT / PNL makes sense. Not everyone needs wealth preservation within their portfolio. For those who do, RICA provides an interesting option to CGT / PNL. As I have said before, if markets do crash, I expect RICA will outperform both CGT and PNL. Only time will tell. |
Posted at 03/5/2023 15:50 by lowtrawler apollocreed1, although RICA is a defensive play, they take positions that are heavily dependent on them reading the market correctly. It is different from PNL and CGT who are more balanced. I hold all three and RICA is a clear maverick. At the moment, I am overweight defensive stocks because I believe a crash is close. If a crash happens, I expect RICA will outperform both CGT and PNL.As for the deflation theory. It is not a view I share. I believe Western fiat currency is overvalued and will naturally devalue, generating inflation. |
Posted at 02/5/2023 15:02 by lowtrawler spoole5, you have clearly decided RICA is not right for your portfolio and that's fine. RICA is a defensive play and will only really perform when markets fall. This is particularly true given they are currently setup in anticipation a market fall is close.The problem with holding bonds as a defensive play is they have recently been moving in parallel with equities. RICA provides derivative based defences and is more likely to provide price appreciation if equity markets fall. As part of a balanced portfolio, it has a role to play but is not for everyone. I suggest you look at the defensive sector: CGT, PNL, and RICA. They are all performing poorly in the absence of the anticipated market fall. If the fall fails to materialise, they will continue to perform poorly. |
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