Growth
WS Guinness Global Quality Mid Cap
Overview
The WS Guinness Global Quality Mid Cap Fund seeks capital appreciation and invests in high-quality mid-cap companies exposed to structural growth themes.
Mid-cap stocks occupy a sweet spot in the investment landscape, combining the resilience of established businesses with the dynamism of growth-oriented firms. They are often under-researched and overlooked by investors due to a large cap concentration risk in a narrow set of mega-cap businesses.
The WS Guinness Global Quality Mid Cap Fund aims to benefit from the advantages of mid-cap exposure by selecting quality mid cap stocks exposed to long-term demand drivers and possessing the ability to turn them into sustained growth.
When investing for growth, the past isn't always a reliable guide to future success. Using forward-looking secular growth themes as a starting point, the investment process is guided towards companies benefiting from trends such as improved health and wellbeing, resource management and innovative technologies.
Turning these into sustained shareholder returns requires a high-quality company. With a quality-first approach, the Fund identifies companies that generate persistently high returns on capital without excessive debt, demonstrating not just growth but disciplined capital allocation by management and the potential to be attractive long-term investments.
Since hype can often surround growing companies, a valuation discipline is essential to identifying the best opportunities. Screening and scorecards based on quality, growth and valuation help prioritise candidates for extended due diligence.
Why invest in mid caps over large caps?
- Exposure to secular growth themes – Fast-growing companies are often mean-reverting. Secular growth themes driven by changing consumer preferences, technology and regulation give us an opportunity set well placed for sustainable long-term growth.
- Quality-first approach – Looking for emerging and established compounders, companies with persistently high or improving return on capital, offers a route to continued value creation.
- Value discipline – Our bottom-up stock selection process is aimed at avoiding overpaying for future growth.
- High conviction – The Fund invests in 30 broadly equally weighted stocks to balance diversification with concentration and add discipline to portfolio construction. This structure results in a portfolio that is truly differentiated from the benchmark index.
- Low turnover - To keep trading costs low, the Fund typically holds a stock for three to five years.
- Repeatable and independent – Portfolio managers Sagar Thanki and Joseph Stephens have managed the strategy since launch. They use a disciplined process based on their own company research and analysis to avoid the influence of swings in market sentiment.
The WS Guinness Global Quality Mid Cap Fund could be suitable for investors seeking quality growth exposure to mid cap growth stocks, or to diversify exposure to large-cap concentration.
Fund Facts
- Launch Date
- 30.12.2022
- Fund Managers (start date)
- Sagar Thanki (30.12.2022)Joseph Stephens (30.12.2022)
- Benchmark
- MSCI World Mid Cap
- IA Sector
- IA Global
- ISIN
- GB00BP5J7C70
- SEDOL
- BP5J7C7
- BLOOMBERG
- TBGUINS LN
- Underlying currency
- GBP
- Pricing
- Single Swing
- Valuation
- 12:00 UK time
- Administrator
- Waystone Management (UK) Limited
- UK Reporting Fund Status
- Yes
- ISA Eligible
- Yes
0.77%
£1,000
Fund Registration
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Commentary
October 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.
At the quarter end, we review performance and positioning, the macro background over the third quarter of 2026, and consider the case for mid-caps today.
Read full commentary
WS Guinness Global Quality Mid Cap - October Commentary
October 2026
Performance
Portfolio
Top 10 Holdings
As at 30 Sept 2026
Source: Guinness Global Investors. Holdings and exposures may be subject to change
Top 10 Holdings
As at 30 Sept 2026
Source: Guinness Global Investors. Holdings and exposures may be subject to change
Literature
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