Investment Manager's Year End Review
For the year ended 30 June 2022
The following review from the Investment Manager of Ruffer Investment Company Limited (the “Company”) covers the twelve month period to 30 June 2022. This review is intended to give shareholders unaudited key performance indicators and a portfolio review in a timely fashion. The audited Annual Financial Statements for the year ended 30 June 2022 will be released in the usual manner prior to the end of October 2022.
Attached is a link to the Year End Review – http://www.rns-pdf.londonstockexchange.com/rns/6943S_1-2022-7-15.pdf
The Year End Review is also available on the Company's website at:
www.ruffer.co.uk/2022-ric-review
Post Year End Update from Duncan MacInnes
Hamish Baillie, my colleague since 2012 and co-manager since November 2016, has decided to step down from his role at Ruffer after 20 years of service. I will continue to manage the Ruffer Investment Company portfolio with help from the broader Ruffer investment team.
From a personal perspective, I have much to thank Hamish for. More than a decade ago he gave me a job and an opportunity which has changed my life. As a boss he was formidable but fair, always setting relentlessly high standards.
In the last few years as a partner and co-manager he has been an effective sounding board, an astute moral compass with consistently good judgement. If the measure of a good man is to leave those around him better than he found them, then Hamish Baillie is undeniably a good man.
He moves onto a new chapter with the best wishes and heartfelt thanks of myself and everyone else at Ruffer LLP.
Investment Manager's Year End Review
Key performance indicators
|
30 June 2022 % |
30 June 2021 % |
|
|
Share price total return over 12 months1 |
5.6 |
19.5 |
|
NAV total return per share over 12 months1 |
5.9 |
15.3 |
|
Premium/(discount) of share price to NAV |
1.7 |
2.0 |
|
Dividends per share over 12 months2 |
3.05p |
1.90p |
|
Annualised dividend yield3 |
1.0 |
0.7 |
|
Annualised NAV total return per share since launch1 |
7.7 |
7.9 |
|
Ongoing charges ratio4 |
1.07 |
1.08 |
Financial highlights
|
30 June 2022 |
30 June 2021 |
|
|
Share price |
300.00p |
287.00p |
|
NAV |
£952,784,773 |
£575,913,008 |
|
Market capitalisation |
£969,008,292 |
£587,541,854 |
|
Number of shares in issue |
323,002,764 |
204,718,416 |
|
NAV per share5 |
294.98p |
281.32p |
1 Assumes reinvestment of dividends
2 Dividends paid during the period
3 Dividends paid during the year divided by closing share price
4 Calculated in accordance with AIC guidance
5 NAV per share as released on the London Stock Exchange
Investment Manager's report