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Ruffer Total Return International

Ruffer Total Return International Positive returns with low volatility C class February 2022 Issue 128. Investment objective During February, the fund price rose by This compared with a fall of in the FTSE All- Share Index and a fall of in the FTSE Govt All Stocks Index (all figures Total returns in sterling). The investment objective of Ruffer Total Return International ( the fund') is to achieve positive returns Our commentary this month is dominated by the impact of events in Ukraine. This war is first and with low volatility from an actively managed portfolio. The fund may have exposure to the following foremost a human tragedy and our thoughts are with the people of Ukraine. The investment asset classes: cash, debt securities of any type (including government and corporate debt), equities and implications are secondary to the crisis, but we recognise our duty to provide investors with an update equity related securities and commodities (including precious metals).

RTRI C cap £ RTRI C cap € FTSE All-Share TR £ FTSE Govt All-Stocks TR £ C GBP capitalisation shares Performance % February 2022 2.6 Year to date 4.1 1 year 10.0 3 years 38.3 5 years 31.2 10 years 78.6 Share price as at 28 February 2022 C CHFCapitalisation 160.21 C EUR Capitalisation 167.42 C EUR Distribution 164.73 C GBPCapitalisation 182.17

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