Duncan MacInnes, lead manager on the Ruffer Investment Company and Ruffer Diversified Return fund, has left the firm “with immediate effect”, according to a London Stock Exchange announcement published today (12 February).
Edinburgh-based MacInnes, who has been at the company for more than 12 years, joined the firm as an investment associate in September 2012, becoming an investment manager in 2015 and investment director in 2017. He became a senior fund manager and partner at the firm in March 2021. Prior to this, he was a portfolio manager at Barclays Wealth, having initially joined the company as a private banking analyst in 2008.
See also: Ex-Ruffer investment director launches Lulworth Investment Management
He will be replaced by Ruffer partners Alexander Chartres and Ian Rees, as well as current portfolio manager Jasmine Yeo.
Chartres is currently a lead manager on the Ruffer Total Return and Absolute Return funds, having first joined the firm in 2010. Rees, who joined the firm in 2012, has been a lead manager on the Ruffer Diversified Return fund since 2021. Yeo is already co-manager of the Ruffer Investment Company, having joined the firm in 2017.
Commenting on the change in management, Ruffer’s board said: Jasmine, Alexander and Ian already work closely with the chief investment officer team, led by Henry Maxey and Neil McLeish.
“Therefore, the board is confident that continuity of the company’s investment strategy and process will be ensured.”