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LONDON - Ruffer Investment Company Limited announced positive performance for July 2025, primarily driven by its equity holdings, with additional contributions from precious metals and US dollar exposures, according to a press release issued Monday.
In what the company described as "a strong month for global equity markets," key contributors to performance included commodity equities such as BP (NYSE:BP), Asia-sensitive equities like Prudential (LON:PRU), and gold mining stocks including Newmont.
The fund’s protective assets, including its credit position, detracted from returns as credit spreads narrowed. Interest rate-sensitive assets such as the yen and UK inflation-linked bonds also experienced losses during the month.
The investment manager reported making the portfolio more defensive by adding to credit protection and reducing equity exposure, bringing the equity weight to just over 25%.
During July, the company exited its silver and platinum bullion positions, which had contributed approximately one percentage point to year-to-date performance. The fund maintained a 6% position in gold mining stocks.
The monthly report marks the seventh consecutive positive monthly return for the fund, despite varying market conditions throughout 2025.
Ruffer Investment Company Limited is a closed-ended investment company incorporated in Guernsey. The information was disclosed in the company’s Monthly Investment Report for July 2025, published on August 11.
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