Global Energy Fund
Tim Guinness, previously manager of the Investec GSF Global Energy Fund from 1998 until the end of February 2008, launched the Guinness Global Energy Fund to UK investors on 13 March 2008.
Overview
The investment objective of the Fund is to provide investors with long-term capital appreciation by investing in public listed equities of companies engaged in the exploration, production or distribution of oil, gas and other energy sources.
Rising energy costs have signalled the end of cheap oil. Yet global energy consumption continues to surge. Fossil fuels will remain the predominant world energy source for decades to come and depletion of supply will drive energy prices higher. This will create a favourable environment for companies with resource reserves and for their service providers and distributors.
Under normal market conditions the Fund will invest in 30 equally weighted positions made up of approximately 40 stocks. These are mostly one stock per position with the exception of one 'research' or 'nursery' position which includes a selection of smaller capitalisation stocks.
Team and Process
The Fund will be managed by Tim Guinness, a portfolio manager with over 27 years experience, supported by analysts Tom Nelson, Ian Mortimer and Will Riley.
This is the same team that managed the Investec GSF Global Energy Fund from November 1998 until 29 February 2008, during which time it was one of the world\'s top offshore energy funds. The team continues to manage the Guinness Atkinson Global Energy Fund, a no load SEC registered US mutual fund launched in 2004 (only open to US investors). The investment methodology will remain unchanged, and the Guinness Global Energy Fund will be managed in tandem with the Guinness Atkinson Global Energy Fund.
