Jonathan Ruffer steps back from management

Jonathan Ruffer has stepped back from direct involvement in the management of the Ruffer Investment Company.

Ruffer, who will remain in his role as chairman of Ruffer LLP, will continue to offer input into the macro-economic team of the closed-end fund.

The closed-end fund was launched in 2004, while the firm was established in 1994 by Jonathan Ruffer with Robert Shirley and Jane Tuffnell.

Investment directors Hamish Baillie and Steve Russell will continue to manage the fund. (article continues below)

According to its latest factsheet, the fund, which has a market capitalisation of £278.5m, saw net asset value rose by 0.5% during March, with share price increasing by 0.7%.