Guinness
Guinness Global Equity Income Fund
Global Mega-cap Income
Dec 2024 → Jul 2026
Our archive holds 12 letters from this strategy, behind 10 investment theses and positions in 35 companies. Every quote below is copied verbatim from the letter it came from.
12 letters in 3 years — follow all of Guinness for every strategy.
What it bought and sold
Our recent purchase of AMD reflects this shift; the company is well positioned to benefit from rising CPU demand as AI infrastructure becomes broader and more compute-intensive.
Also held
Its investment theses
- PepsiCoJul 2026PepsiCo offers improving North American volume trends, a compounding international business and an attractive valuation with a strong dividend.
- Johnson & JohnsonMar 2026Johnson & Johnson is a diversified healthcare leader with strong pharma and medtech portfolios, resilient growth drivers, and a wide moat supporting long-term compounding.
- RELXMar 2026RELX is a data analytics leader with strong network effects and embedded workflows, offering attractive value after an AI-driven de-rating.
- ANTA Sports Products LimitedDec 2025ANTA Sports Products Limited is a leading Chinese sportswear group with a multi-brand strategy, premiumisation, high margins and strong balance sheet driving sustained growth.
- Haleon plcDec 2025Haleon plc is a leading consumer health company with strong brands, pricing power, cash generation and structural growth drivers across categories and geographies.
- Diageo plcDec 2025Diageo plc is a global premium spirits leader with structural premiumisation tailwinds and potential CEO-driven catalysts despite near-term growth and leverage headwinds.
- Paychex, Inc.Dec 2025Paychex, Inc. is a leading HCM provider with promising AI-enabled products and an upmarket expansion via Paycor that support stabilizing growth despite macro and integration headwinds.
- Anta SportsSep 2025Anta Sports is a leading Chinese sportswear brand known for its multi-brand strategy, strong growth, and financial resilience, making it the second-largest player in China's sportswear market.
- HaleonMar 2025Haleon is an attractive investment due to its leading market position in consumer health products, strong brand portfolio, robust cash flow, and favorable growth prospects in both developed and emerging markets.
- PublicisDec 2024Publicis is a leading French advertising and media agency that has successfully transitioned to a digital-focused, one-stop-shop model, demonstrating strong growth and attractive valuation due to its innovative acquisitions and robust cash flow generation.