Morningstar Fund Report  | 11/04/2025Print

WS Ruffer Diversified Return Fund I GBP Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
WS Ruffer Diversified Return Fund I GBP Accumulation
Fund-5.2-5.4-0.83.7
+/-Cat-15.1-11.4-7.03.7
+/-B’mrk-14.4-14.7-9.33.8
 
Category: GBP Flexible Allocation
Category Benchmark: Morningstar UK Mod Tgt Allo...
Key Stats
NAV
10/04/2025		 GBP 1.04
Day Change -0.63%
Morningstar Category™ GBP Flexible Allocation
IA (formerly IMA) Sector Targeted Absolute Return
ISIN GB00BMWLQW82
Fund Size (Mil)
28/02/2025		 EUR 1342.04
Share Class Size (Mil)
09/04/2025		 GBP 612.44
Max Initial Charge -
Ongoing Charge
18/02/2025		  0.92%
Morningstar Research
Analyst Report04/03/2025
Tom Mills, Principal
Morningstar, Inc

LF Ruffer Diversified Return was launched in September 2021 as a daily dealing mutual fund, providing a liquid way for investors to access Ruffer. It benefits from a clear and consistent focus on capital preservation, with a well-resourced,...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent24
Process24
Performance
Price
Investment Objective: WS Ruffer Diversified Return Fund I GBP Accumulation
To seek to achieve positive returns in all market conditions over any 12 month period, after all costs and charges have been taken. Underlying this objective is a fundamental philosophy of capital preservation. To invest both directly and indirectly in the following asset classes: equities (including equity related securities), debt instruments (including government and public securities, corporate bonds, distressed debt and private debt), money market instruments, deposits and cash and indirectly only in alternative investments (such as property and commodities such as precious metals).
Returns
Trailing Returns (GBP)10/04/2025
YTD3.74
3 Years Annualised-0.77
5 Years Annualised-
10 Years Annualised-
12 Month Yield 0.72
Management
Manager Name
Start Date
-
-
Inception Date
01/09/2021

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Bank of England Base RateMorningstar UK Mod Tgt Alloc NR GBP
Portfolio Profile for  WS Ruffer Diversified Return Fund I GBP Accumulation31/03/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock37.880.0037.88
Bond54.564.2650.30
Property0.000.000.00
Cash72.4464.567.88
Other3.940.003.94
Fixed Income
Effective Maturity-
Effective Duration-
Top 5 Regions%
United States27.12
United Kingdom25.05
Eurozone14.99
Asia - Emerging10.30
Canada9.71
Top 5 Sectors%
Basic Materials25.77
Consumer Cyclical17.16
Financial Services16.94
Consumer Defensive8.85
Energy8.82
Top 5 HoldingsSector%
United States Treasury Notes7.04
United States Treasury Notes6.54
United States Treasury Notes6.22
United States Treasury Notes6.22
United States Treasury Notes6.21
Increase Decrease New since last portfolio
WS Ruffer Diversified Return Fund I GBP Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  WS Ruffer Diversified Return Fund I GBP Accumulation
Category:  GBP Flexible Allocation
Category Index:  Morningstar UK Mod Tgt Alloc NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 20222023202431/03
Price Return5.17-5.40-0.783.70
+/- Category15.11-11.42-6.983.74
+/- Category Index14.42-14.66-9.343.81
% Rank in Category496949
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.63   0.26-1.92
1 Week-0.05   4.983.34
1 Month0.09   5.534.05
3 Months3.29   8.307.09
6 Months1.09   6.043.29
YTD3.74   8.426.85
1 Year2.89   4.410.81
3 Years Annualised-0.77   -0.57-3.47
5 Years Annualised-   --
10 Years Annualised-   --
 
Category: GBP Flexible Allocation
Category Index: Morningstar UK Mod Tgt Alloc NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20253.70---
2024-0.990.792.71-3.20
2023-1.92-5.41-0.342.32
20225.27-4.922.013.00
2021---1.44
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-Year--Not Rated
10-Year--Not Rated
OverallBelow AverageBelow Average2 star
 
Category :  GBP Flexible AllocationClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev5.20 %
3-Yr Mean Return-0.79 %
 
3-Yr Sharpe Ratio-0.92
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK Mod Tgt Alloc NR GBP  Morningstar Global Bas Mat TME NR USD
3-Yr Beta0.280.25
3-Yr Alpha-4.74-3.53
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 30713-
Market Capitalisation% of Equity
Giant30.19
Large38.14
Medium24.46
Small6.60
Micro0.62
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.010.77
Price/Book1.470.65
Price/Sales1.100.64
Price/Cash Flow7.520.75
Dividend-Yield Factor2.661.18
 
Long-Term Projected Earnings Growth11.211.09
Historical Earnings Growth-8.267.75
Sales Growth2.030.46
Cash-Flow Growth-0.69-0.16
Book-Value Growth6.171.13
 
Category: GBP Flexible Allocation
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 1184
Maturity Distribution %
1 to 347.67
3 to 50.00
5 to 70.00
7 to 100.00
10 to 150.00
15 to 200.00
20 to 303.22
Over 307.87
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: GBP Flexible Allocation
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock37.880.0037.88
Bond54.564.2650.30
Property0.000.000.00
Cash72.4464.567.88
Other3.940.003.94
World Regions31/03/2025
 % of EquityRelative to Category
United States27.120.60
Canada9.712.49
Latin America0.000.00
United Kingdom25.051.19
Eurozone14.991.27
Europe - ex Euro2.710.54
Europe - Emerging0.000.00
Africa1.264.64
Middle East0.000.00
Japan5.701.61
Australasia1.261.27
Asia - Developed1.900.92
Asia - Emerging10.301.89
 
Category: GBP Flexible Allocation
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials25.773.18
Consumer CyclicalConsumer Cyclical17.162.02
Financial ServicesFinancial Services16.940.99
Real EstateReal Estate0.670.22
Consumer DefensiveConsumer Defensive8.850.64
HealthcareHealthcare5.870.72
UtilitiesUtilities0.340.09
Communication ServicesCommunication Services2.750.38
EnergyEnergy8.822.25
IndustrialsIndustrials8.280.74
TechnologyTechnology4.570.30
 
Category: GBP Flexible Allocation
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings166
Total Number of Bond Holdings19
Assets in Top 10 Holdings52.01
NameSectorCountry% of Assets
United States Treasury NotesUnited States7.04
United States Treasury NotesUnited States6.54
United States Treasury NotesUnited States6.22
United States Treasury NotesUnited States6.22
United States Treasury NotesUnited States6.21
United States Treasury NotesUnited States5.58
Japan (Government Of) 0.005%Japan4.34
Japan (Government Of) 0.005%Japan4.02
Japan (Government Of) 0.005%Japan3.21
BP PLC309United Kingdom2.62
 
Increase Decrease New since last portfolio
Category: GBP Flexible Allocation
 
Management
Name of CompanyRuffer LLP
Phone-
Websitehttps://www.ruffer.co.uk/en
Address80 Victoria Street
 London   SW1E 5JL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date01/09/2021
Fund Advisor(s)
Ruffer LLP
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.90%
Ongoing Charge0.92%
Purchase Details
Minimum Investments
Initial25000000  GBP
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes