Ruffer revamps management team on pair of funds

Alexander Chartres and Matt Smith will become co-managers of the LF Ruffer Total Return fund from 1 November. The pair will join Steve Russell in managing the fund, with David Ballance stepping down to focus on other roles at Ruffer. Chartres and Smith have been at Ruffer since 2010 and 2011 respectively, the firm said. Ruffer warns of 1999-style bubble in stockmarkets Meanwhile, Russell will step down from his role as manager of Ruffer Investment Company (RICA), the firm's investment trust, on 31 October. Russell has co-managed the trust since its inception in 2004 but will step a...