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Small is beautiful for Ruffer

RUFFER INVESTMENT MANAGEMENT

CF Ruffer Pacific Fund

Type:
Oeic

Aim:
Growth by investing in equities and bonds in the Asia Pacific region

Minimum investment:
Lump sum £1,000

Investment split:
34% cash, 16% basic materials, 12% non-cyclical consumer goods, 11% financial,9% cyclical consumer goods, 5% communications,
4% industrial, 3% utilities, 2% energy, 2% government, 2% other

Isa link:
Yes

Pep transfers:
Yes

Charges:
Initial 5%,
annual 1.5%

Commission:
Initial 3%,
renewal 0.5%

Tel: 020 7529 7936

Ruffer Investment Management &#39s CF Ruffer Pacific fund aims to deliver positive returns by investing in companies in the Asia Pacific region.

TBO Corporate Benefit Consultants investment director Godfrey Bloom is watching this fund&#39s progress before considering it as a possible for clients&#39 portfolios as he thinks it could have more of a track record after one year in one year. He says: “There are a number of things we like about this fund. We are in tune with the managed macro economic views and we like the portfolio structure as balanced. We also favour the ability to take aggressive cash positions where and when appropriate. Finally, for a Far East fund the yield is not insignificant at 2.9 per cent.”

However, Bloom feels the fund is very small at £2.5m and that the current 28 holdings must be the very minimum it will contain. He says: “At this size the fund is a hostage to fortune, both in holdings and the number of fund managers at the helm. Most Asian funds have quite a substantial team base. ” He also thinks weekly dealing is a potential weakness in the event of sudden or potential macro-economic shocks to the region but he understands the its practicalities for Ruffer.

Finally, Bloom thinks Ruffer will face competition from the traditional Far East players such as Aberdeen Asia Pacific and Invesco Perpetual Pacific.

BROKER RATINGS:

Suitability to market: Good
Investment strategy: Good
Charges: Good
Adviser remuneration: Good

Overall 7/10

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