Guinness Global Equity Income Fund outperformed peers in Q1 2026, favoring defensive stocks like Johnson & Johnson amid market rotation.
Johnson & Johnson (JNJ) closed at $238.33 on June 11, 2026, as defensive stocks gained traction in Q1 2026. The Guinness Global Equity Income Fund returned -0.5% in GBP, outperforming the MSCI World Index’s -1.6% and the IA Global Equity Income sector’s 0.1%.
Market sentiment shifted from growth sectors like mega-cap tech to value-oriented and defensive stocks due to geopolitical tensions and energy disruptions. The fund benefited from this rotation, with JNJ among its top holdings.
The fund’s update also highlighted concerns over AI-driven disruption in software valuations, reflecting broader macroeconomic uncertainties.