Ruffer Investment Co. [$RICA](https://bsky.app/hashtag/%24RICA) just released their June 2026 commentary:
NAV down 1.3% in Jun-26
Now down 0.1% year-to-date
"Some of the protection assets losing value"
"Some of the contrarian growth exposure continuing to decline" (gold miners, software, China tech, energy)
And they reduced Yen exposure at record lows
[https://www.ruffer.co.uk/-/media/ruffer-website/files/fund-reports/ric/2026/2026-06-ric-fund-report-jun2026.pdf](https://www.ruffer.co.uk/-/media/ruffer-website/files/fund-reports/ric/2026/2026-06-ric-fund-report-jun2026.pdf)