Henry Maxey, Investment Manager Sir, Your article on page 3 of 26 August's Investment Week: Ruff...
Henry Maxey, Investment Manager
Your article on page 3 of 26 August's Investment Week: Ruffer Income fails to meet IMA minimum, is incomplete since it fails to acknowledge the fund has now been reclassified.
Its brief appearance in 'UK equity income' is easily explained as follows: the fund was reclassified when the IMA scrapped the 'global equity & bond' sector, the mistake was picked up and, in consultation with the IMA on 8 August, it was decided the fund should be placed in the 'cautious managed' sector.
This information would have been freely available if your reporter had asked about this issue in our brief conversation. I feel that a correction to the article would be appropriate since it has already caused consternation among some of my former competitors.
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