Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Ruffer’s profit soars 40% on £2bn asset rise

Ruffer’s profit soars 40% on £2bn asset rise

Ruffer Management Limited has seen a 39% rise in profit after tax.

In a busy year for the firm, which has seen founder Jonathan Ruffer (pictured) announce he will take a back seat and hand over his chief executive responsibilities to Henry Maxey, the investment company also enjoyed a 20% rise in its fee-earning funds under management from £11.3 billion to £13.6 billion.

According to Ruffer Management’s latest filing with Companies House, the 12 months running to 31 March saw profit share from Ruffer LLP, of which Ruffer Management Limited is the managing member, more than double.

‘During the year the group saw an increase of 20% in its fee-earning funds under management from £11.3 billion to £13.6 billion. This directly impacts the financial performance of the group by increasing both turnover and pre-tax profit,’ the filing stated, which included a report that gave the company’s directors an opportunity to look back at a year that has proved challenging for many of the firm’s peers.

According to Ruffer’s latest filing, profit before tax for the year to the end of March was £7.24 million, up from last year’s £5.2 million.

The profit share from Ruffer LLP, which reports separately from Ruffer Management Limited, rose from £11.8 million in 2011 to £23.7 million in 2012. 

These figures were detailed in the report to Ruffer Management Limited’s directors, who include founder Ruffer, hedge fund star Crispin Odey, and Viscount Tamworth, who along with Ruffer and Jane Tufnell co-founded the company in 1994.

Aside from its monthly updates to investors in its CF Ruffer Total Return fund and Ruffer Investment Company, the popular £278 million closed-end vehicle, Ruffer Management Limited normally keeps a low profile so its annual report and financial statements provide a rare insight into the workings of the respected group.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter