28th Feb 2020 16:28
(Alliance News) - Ruffer Investment Co Ltd on Friday reported a first half rise in net assets as it adds it has made up "for lost ground" after a "disappointing" 2018.
Net asset value at December 31 was 2.9% higher at GBP418.2 million from GBP406.3 million in June. Per share, it rose at the same rate to 231.40 pence each from 224.72p.
Shares in Ruffer were 0.3% lower at 208.94 shortly before market close in London on Friday.
The company reported a net asset value total return of 3.4% during the six month period, improved from negative 5.1% the year prior.
It held its interim dividend at 0.9p a share.
"After a disappointing 2018, this return has more than made up the lost ground and is ahead of our long-term average. Importantly it has been achieved while carrying a significant amount of protection in the portfolio," Ruffer said.
It added: "Regarding the recently emerged covid-19 coronavirus threat, the board is monitoring its spread and the manager has confirmed that it is in contact with our investee companies about the likely impact.
By Eric Cunha; [email protected]
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