WS Ruffer Absolute Return Fund / Ruffer LLP on LVMH Moet Hennessy Louis Vuitton SE
Thesis
Ruffer increased its position in LVMH during June. The fund sees the global luxury group as a beneficiary of a wealth effect generated by AI-related export profits in Asia. The position also fits Ruffer's broader preference for less crowded opportunities rather than chasing the strongest AI-capex momentum.
“LVMH, a global luxury company that should benefit from the wealth effect from AI-related export profits in Asia.”