IN BRIEF: Ruffer highlights bond exposure as Iran war continues
Ruffer Investment Co Ltd - investment trust managed by London-based Ruffer LLP - Releases its monthly investment report for March. Reports net asset value return of minus 1.8% for March, but plus 2.0% for the year to date. Share price returns are plus 0.8% and 5.0%, respectively. Notes that "markets that we like", including the UK, were hit by the Middle East conflict's anticipated impact on energy prices and supplies, and that March saw "more sellers of gold than might have been expected". Says buybacks in the first quarter were slower than previously, totalling around 400,000 shares, due to its discount to NAV "materially" narrowing". Says the "fund's protections provided largely positive performance", including from its "topped up" crude oil allocation, which comprised about 5% of the portfolio and which it "actively traded" in March, and from its credit and volatility protections. Read More