Morningstar Fund Report  | 07/04/2025Print

WS Ruffer Gold Fund I Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
WS Ruffer Gold Fund I Accumulation
Fund-13.5-11.213.021.625.3
+/-Cat-1.6-5.514.47.7-1.1
+/-B’mrk-6.3-12.811.611.2-5.1
 
Category: Sector Equity Precious Metals
Category Benchmark: Morningstar Gbl Gold NR USD
Key Stats
NAV
02/04/2025		 GBX 430.78
Day Change 0.62%
Morningstar Category™ Sector Equity Precious Metals
IA (formerly IMA) Sector Specialist
ISIN GB00B03VWY73
Fund Size (Mil)
28/02/2025		 GBP 654.93
Share Class Size (Mil)
02/04/2025		 GBP 682.34
Max Initial Charge 5.00%
Ongoing Charge
18/02/2025		  1.05%
Investment Objective: WS Ruffer Gold Fund I Accumulation
To seek to achieve capital growth over the longer term (at least seven years), after all costs and charges have been taken. To invest both directly and indirectly at least 70% of its total assets by value, in equity or equity related securities in gold and precious metal related companies.
Returns
Trailing Returns (GBP)02/04/2025
YTD26.09
3 Years Annualised10.58
5 Years Annualised17.15
10 Years Annualised17.70
12 Month Yield 0.59
Management
Manager Name
Start Date
Paul Kennedy
31/01/2014
Inception Date
07/12/2005

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE Gold Mines TR USDMorningstar Gbl Gold NR USD
Portfolio Profile for  WS Ruffer Gold Fund I Accumulation31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.200.0097.20
Bond0.310.000.31
Property0.000.000.00
Cash0.000.000.00
Other2.480.002.48
Top 5 Regions%
Canada51.61
Australasia18.89
United Kingdom13.57
United States8.44
Africa6.59
Top 5 Sectors%
Basic Materials98.65
Energy1.35
Top 5 HoldingsSector%
Endeavour Mining PLCBasic MaterialsBasic Materials7.13
Mandalay Resources CorpBasic MaterialsBasic Materials5.67
Newmont CorpBasic MaterialsBasic Materials5.48
Perseus Mining LtdBasic MaterialsBasic Materials5.36
Centerra Gold IncBasic MaterialsBasic Materials5.03
Increase Decrease New since last portfolio
WS Ruffer Gold Fund I Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  WS Ruffer Gold Fund I Accumulation
Category:  Sector Equity Precious Metals
Category Index:  Morningstar Gbl Gold NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-8.4944.7354.38-13.48-11.1712.9621.6425.32
+/- Category3.689.8219.91-1.64-5.5014.387.71-1.07
+/- Category Index-4.376.0234.64-6.29-12.8311.6011.19-5.12
% Rank in Category35159667621873
Trailing Returns (GBP)02/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.62   3.857.05
1 Week0.46   5.737.79
1 Month12.95   5.289.27
3 Months24.36   7.928.86
6 Months18.64   5.679.15
YTD26.09   3.655.61
1 Year48.28   18.6421.34
3 Years Annualised10.58   7.327.48
5 Years Annualised17.15   4.907.54
10 Years Annualised17.70   7.296.33
 
Category: Sector Equity Precious Metals
Category Index: Morningstar Gbl Gold NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
202525.32---
20243.4412.6410.43-5.46
202311.05-8.47-2.6214.12
202213.83-21.47-10.5911.15
2021-16.964.76-11.3912.25
2020-5.1364.557.84-8.30
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAverage4 star
5-YearAbove AverageAverage4 star
10-YearHighBelow Average5 star
OverallHighAverage5 star
 
Category :  Sector Equity Precious MetalsClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev26.42 %
3-Yr Mean Return14.06 %
 
3-Yr Sharpe Ratio0.35
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Gold NR USD  Morningstar Gbl Gold NR USD
3-Yr Beta0.900.90
3-Yr Alpha3.763.76
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 1660-
Market Capitalisation% of Equity
Giant0.99
Large10.56
Medium33.81
Small33.31
Micro21.32
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings8.440.72
Price/Book1.540.89
Price/Sales1.790.73
Price/Cash Flow4.610.71
Dividend-Yield Factor1.341.00
 
Long-Term Projected Earnings Growth14.970.50
Historical Earnings Growth43.40-10.56
Sales Growth7.671.25
Cash-Flow Growth24.681.08
Book-Value Growth5.280.76
 
Category: Sector Equity Precious Metals
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.200.0097.20
Bond0.310.000.31
Property0.000.000.00
Cash0.000.000.00
Other2.480.002.48
World Regions31/03/2025
 % of EquityRelative to Category
United States8.440.87
Canada51.610.85
Latin America0.910.84
United Kingdom13.573.04
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.000.00
Africa6.590.81
Middle East0.00-
Japan0.000.00
Australasia18.891.29
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Sector Equity Precious Metals
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials98.650.99
EnergyEnergy1.3517.63
 
Category: Sector Equity Precious Metals
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings81
Total Number of Bond Holdings1
Assets in Top 10 Holdings48.08
NameSectorCountry% of Assets
Endeavour Mining PLC101United Kingdom7.13
Mandalay Resources Corp101Canada5.67
Newmont Corp101United States5.48
Perseus Mining Ltd101Australia5.36
Centerra Gold Inc101Canada5.03
Westgold Resources Ltd101Australia4.62
Anglogold Ashanti PLC101South Africa4.29
OceanaGold Corp101Canada3.66
Barrick Gold Corp101Canada3.60
Hochschild Mining PLC101United Kingdom3.25
 
Increase Decrease New since last portfolio
Category: Sector Equity Precious Metals
 
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 Date07/12/2005
Fund Advisor(s)
Ruffer LLP
Fund ManagerPaul Kennedy
Manager Start Date31/01/2014
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.00%
Ongoing Charge1.05%
Purchase Details
Minimum Investments
Initial100000000  GBP
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes