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The Daily Telegraph - Your Money - - FRONT PAGE -

This in­vest­ment trust was set up in 2004 by Jonathan Ruf­fer, who has more than £2m of his own money in the fund. It proved its met­tle dur­ing the fi­nan­cial cri­sis, post­ing sig­nif­i­cant gains. Mr Ruf­fer is now of the view that an earth­quake is about to hit mar­kets, and in­vests ac­cord­ingly.

The trust is in­vested in Bri­tish and global shares with a large weight­ing to Ja­pan, plus gold, bonds and cash. OCF 1.16pc, share class n/a to the stock mar­ket: if the mar­ket fell by 20pc, the fund should gain 4pc. It has eked out above-in­fla­tion re­turns dur­ing re­cent ris­ing mar­kets. OCF 0.84pc, share class I

We have been wary of mul­ti­man­ager funds be­cause the ex­tra man­age­ment adds cost. This fund gets in as man­agers Mar­cus Brookes and Robin McDon­ald have shown con­vic­tion. They moved al­most a third of the port­fo­lio into cash in 2015.

Ex­perts view it as an ideal fund for a highly cau­tious in­vestor, with money split be­tween shares, bonds, cash and al­ter­na­tive in­vest­ments such as hedge funds and com­modi­ties.

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