UK asset manager Ruffer to open New York office
Financial Times
23-05-22 03:20
London-based asset manager Ruffer is set to open its first US office in New York. The company, which has traditionally focused on clients in the UK, Europe and Australia but has "almost $1bn in assets" from pension funds, foundations and endowments in the US, aims to increase that sum several fold over the next few years, according to Investment director Jenny Renton. The firm, which has assets under management of over $30bn, expects a liquidity crunch and anticipates a recession in several major economies, including the US. It uses inflation-linked bonds and gold, with almost a third of its portfolio in inflation-linked bonds and derivatives to reduce the risk of further stock market turbulence as interest rates remain high. Renton added that the company did not expect to invest in cryptocurrencies again any time soon.