Ruffer Fund’s Lankan equity portfolio stands at 11% in May

The London-based CF Ruffer Pacific Fund held 11 percent of its assets in Sri Lankan equities in May 2016, second only to the 30 percent asset allocation in Chinese equities. It also held 11 percent of its currency allocations in the Sri Lankan rupee, behind the Sterling with 35 percent and the Hong Kong dollar with 21 percent.

John Keells Holdings PLC was featured as the fund’s 8th largest equity investment, representing 1.9 percent of the fund.

CF Ruffer had held 0.9 percent of the shares in John Keells Holdings last year, but failed to appear in the top 20 shareholders of the country’s largest conglomerate over the past several quarters following the conversion of the 2015 warrants, of which CF Ruffer had no significant ownership.
The fund does not hold a sizable portion of the 2016 warrants either.

It bought shares in Softlogic Group’s Asiri Hospital Holdings PLC last year, holding 3.18 percent of Asiri’s shares at the end of the 2016 financial year.

CF Ruffer also holds shares in National Development Bank PLC, Cargills (Ceylon) PLC, and Dialog Axiata PLC, among others.

The fund, worth £284.6 million, saw a 5.6 percent year-on-year decline for the financial year ended March 31, 2016. Over 80 percent of the fund’s assets are in equities.