Guinness Global Innovators, an investment management company, recently released its Q1 2026 quarterly investor update for its “Guinness Global Innovators Fund”.
A copy of the letter is available to download here
The Guinness Global Innovators Fund focuses on investing in global companies that benefit from innovation in technology, communication, globalization, and management strategies. In Q1 2026, the fund returned was -4.5% (GBP), compared to -1.6% for the MSCI World Index and -2.6% for the IA Global sector average. The quarter saw major changes in market sentiment due to geopolitical tensions and energy market disruptions.
The market shifted focus from growth-oriented mega-cap technology and software stocks to value stocks, defensives, international markets, and physical economy sectors. The fund’s lack of exposure to more defensive sectors and energy negatively impacted quarterly performance. The letter discusses how the geopolitical situation influences market dynamics and examines software industry weaknesses to determine the structural change in the landscape and how companies are being repriced in the market.