Growth
Guinness Global Money Managers
Overview
The Guinness Global Money Managers strategy seeks capital growth and invests in companies in the asset management sector.
Asset manager stocks can, over the long term, grow their earnings faster than broader equity markets. Successful asset management businesses can grow very rapidly, particularly in rising markets, offering the potential to outperform.
Their risk-return characteristics are especially attractive from a shareholder’s point of view, since they tend to require relatively little capital to grow. Asset management is also a flourishing global sector, with growth in asset management rising faster than underlying equity markets.
The Guinness Global Money Managers Fund gives exposure to this growth potential with a diversified portfolio of listed companies engaged in asset management and associated services.
BEST FUND OVER 3 YEARS
Lipper - Equity Sector Banks & Other Financials
Compared to other financial sectors (especially banks), money management companies tend to have very low gearing, reducing balance sheet risk. The sector typically exhibits high free cashflow, which translates into higher dividend yields on average than the broad equity market.
A rigorous investment process, screening for attractive valuation and profitability before detailed modelling and due diligence, is designed to capture the advantages of the sector.
Why invest in asset managers?
- High returns on capital - Successful asset management companies can grow using relatively little capital, meaning high returns on capital are achievable and sustainable.
- Growing global sector - Global conventional assets under management are growing faster than world equity returns, supporting increasing revenues for asset managers.
- Low balance sheet risk - Money management companies tend to have very low gearing versus other financial sectors, especially banks.
- Above average dividend yield - The sector typically exhibits high free cashflow, which translates into higher dividend yields than the broad equity market, bolstering total returns.
- Higher beta - Asset manager stocks have the potential to outperform the market during periods of market strength, particularly in equities.
Favourable environment for investing in asset management companies
If global equity markets continue on a path of reasonable long-term growth, investing in asset managers through a diversified portfolio of listed companies can play a useful role in a broader investment strategy.
The Guinness Global Money Managers Fund could be suitable for investors looking to add beta (market sensitivity) to their equity portfolio or, thanks to its focus on asset management, as a diversifier within a financials allocation.
Fund Facts
- Launch Date
- 31.12.2010
- Fund Managers (start date)
- Tim Guinness (31.12.2010)Will Riley (31.12.2010)
- Benchmark
- MSCI World
- IA Sector
- IA Financials and Financial Innovation
- ISIN
- IE00B3NSFR34
- SEDOL
- B3NSFR3
- BLOOMBERG
- GUGLMME ID
- Underlying currency
- USD
- Pricing
- Daily, forwards
- Valuation
- 23:00 Dublin time
- Deal cut off time
- 15:00 Dublin time
- Administrator
- Waystone Administration Solutions (IE) Limited
- UK Reporting Fund Status
- Yes
- ISA Eligible
- Yes
0.74%
None
Fund Registration
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Commentary
July Commentary
This is a marketing communication. Please refer to the prospectus, supplement, KIDs and KIIDs for the Funds (available on this website), which contain detailed information on their characteristics and objectives and full information on the risks, before making any final investment decisions.
The July 2026 commentary reviews the first half of 2026, when the Fund returned 0.2% in USD versus 9.7% for the MSCI World Index. Performance within asset management was widely dispersed: State Street rose 33%, Polar Capital 17% and Franklin Resources 42%, while Blackstone, Carlyle, Nasdaq and Rathbones declined. The report attributes this pattern to higher markets supporting assets under management, alongside concerns about private-credit liquidity and a sell-off in data- and software-adjacent businesses. Janus Henderson was sold after its $52-per-share cash acquisition completed. Looking ahead, the commentary highlights continued ETF growth, improving conditions for selected traditional managers and expansion in private-market products. At 30 June, the portfolio traded on 15.2 times 2025 earnings, versus 24.5 times for MSCI World.
Read full commentary
Guinness Global Money Managers Fund - July Commentary
July 2026
Performance
Portfolio
Top 10 Holdings
As at 28 Aug 2026
Source: Guinness Global Investors. Holdings and exposures may be subject to change
Top 10 Holdings
As at 28 Aug 2026
Source: Guinness Global Investors. Holdings and exposures may be subject to change
Literature
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