WS Guinness Global Equity Income

Introduction to the fund

This fund has a concentrated portfolio of 35 stocks, all of which are equally weighted to minimise stock-specific risk. Managers Ian and Matthew adopt a ‘one in, one out’ policy to portfolio construction, which means that when they add a company, they simultaneously have to have high conviction in the new idea and enough reason to sell an existing holding. The fund has a bias towards high-quality stocks and filters out companies based on their business model and balance sheet strength, rather than their dividend yield.

Fund manager

Matthew Page, Dr Ian Mortimer

Guinness Global Equity Income has been co-managed since its launch in 2010 by Matthew Page and Dr. Ian Mortimer. Both studied at Oxford University, Matthew gaining a Master’s in Physics and Ian achieving a PhD. They joined Guinness Asset Management in 2005 and 2006 respectively. Matthew previously worked as an analyst for Goldman Sachs, whereas Ian began his investment career with Guinness.

Opinion on fund

The Guinness Global Equity Income fund is very concentrated, holding high quality stocks, which have consistently outperformed in their sector. We believe the managers’ focus on first choosing the right companies – rather than filtering by dividend yield – gives them a greater chance of finding hidden gems in the market. They look for growing, rather than high, income and the equally-weighted portfolio also sets the fund apart from many of its peers. The one-in, one-out philosophy means the fund stays up to date with the managers’ best ideas, because they have to consider the worst of their investments, rather than simply adding a position. We think this is a core global income holding..

Fund performance

Documents

Key facts

  • Fund size

    £5,193.1m

  • Chelsea rating

    Buy

  • Core Selection

    Yes

  • Chelsea Risk Rating

    6.5

  • AMC

    0.79%

  • OCF

    0.79%

  • Unit Type

    Acc and Inc

  • Yield

    2.61%

  • FundCalibre rating

    Elite Rated

How to invest

Once you know where you want to invest, there are a number of ways you can invest:

  • Log in here and process your instruction
  • Call us on 020 7384 7300 to buy over the phone or request an application form
  • Download an application form and post it to us, along with a cheque
Find out more
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Important information

Source: Performance data sourced from FE Analytics (IA universe). Yield figures (per annum), Fund Size data and AMCs/OCFs are as at 23/01/2026 unless otherwise stated.

The performance graph, factsheets and Key Investor Information Document is provided by FEfundinfo, and updated on a daily basis.

Some funds listed are off shore-domiciled and subject to different regulations. Off shore funds typically do not offer investor compensation under the UK Financial Services Compensation Scheme (FSCS).

Performance history extended by FE fundinfo to illustrate the fund’s longer-term record.

Sector rankings calculated from multiple underlying sectors; certain funds remain unranked due to limited comparability.

Funds assigned to an alternative IA sector; sector rankings may differ accordingly.

The information provided is based on our proprietary qualitative and quantitative research. Whilst reasonable efforts have been taken to ensure accuracy, Chelsea Financial Services cannot guarantee that the information is free from errors, omissions, or inaccuracies.

This information does not constitute investment advice and should not be interpreted as a recommendation to invest in any fund listed. Past performance is not a reliable indicator of future returns.

Please read the full Important Notice on page 2 of the FundReview 2025 carefully before making investment decisions.

Whilst every effort has been made to ensure the accuracy of this information, Chelsea Financial Services takes no responsibility for any errors, omissions or inaccuracies contained therein. The funds within the Chelsea Selection are based on our proprietary research, which is both qualitative and quantitative. Please note this is not investment advice, nor does it imply that you should invest in this fund. Past performance is a not a guide to future returns.

To find out more about our Chelsea Risk Rating, please visit our dedicated page.

The AMC (annual management charge) is paid to the fund management company for managing the fund. It is calculated as a percentage of the value of the fund. The AMC is less than the Ongoing Charges Figure (OCF).

The OCF (ongoing charges figure): The cost includes the AMC and other fees such as registration, regulatory, audit and legal fees but does not include transaction costs and performance fees.