Duncan MacInnes

Aberforth aims to deliver superior long-term returns for its clients. The firm is a value investor who seeks to purchase shares in companies that are selling below their intrinsic value. The chosen investment universe yields a disproportionate number of value opportunities as a consequence of greater inherent business volatility, lower liquidity and less abundant flows of information.

Ruffer aims to deliver consistent positive returns – whatever happens in financial markets. The firm actively manages investments, mainly in conventional assets, and operates freely, without restrictive benchmarks. In all they do, they seek to be responsible investors, integrating environmental, social and corporate governance (ESG) issues into their investment process. Ruffer always holds investments in what they call growth and protection. They hold these alongside each other, changing the allocation to each over time. The growth assets are typically equities. The protective assets are usually a combination of conventional and index–linked bonds, currencies, derivatives and exposure to commodities.

Ruffer AIFM aims to deliver consistent positive returns – regardless of the financial market's condition. The firm’s investment process is designed to protect and grow the value of their clients’ portfolios – avoiding large losses and harnessing the power of compounding over time.