Ruffer Income fails to meet IMA minimum

Ruffer Income, the top performing UK equity income fund over one year, is less than 25% invested in UK equities, contravening the IMA's minimum 80% sector requirement. The £19.1m fund, managed by Henry Maxey and Jonathan Ruffer, has a 23% weighting in UK equities, with 32% in European government bonds, 26% in UK bonds and 19% cash. Ruffer also soft launched a Europe ex-UK Oeic sub-fund in June, managed by Alice Ryder, formerly of Framlington and the group's head of research. The fund is currently only 50% invested, with the other half in cash. Ruffer Equity & General, a global active...