WS EkinsGuinness Global Sector Rotation Fund
Overview
Summary
- Aim is to provide capital growth over the long term by investing in Global Equities
- Opportunity arises from differences in performance of Global Sectors which are often driven by different factors
- Sector Rotation strategy can capture changes in sector leadership
- Avoids style bias – portfolio style changes as sector selection changes in different market conditions
- Provides Active sector selection with Passive implementation using low-cost liquid sector ETFs
- Provides sector focus with significant diversification and minimal stock specific risk
Investment Approach
The two most important drivers for investment decisions are fundamental value and market trends. Fundamental value determines the potential over the medium/long term but can be a poor indicator of price movements in the short term. Market trends (including momentum and overbought signals) can be a good leading indicator of future price movements but can be dangerous if fundamental value is ignored. Neither analytic should be used in isolation but it is logical to select investments based objectively according to a combination of fundamental value and market trends which are independent of opinion, forecasts and emotion.
Performance
(as at 29 May 2026)
Performance shown is the total return (net of fees & costs) for the Accumulation B share class. Inception date was 7 November 2022. The Fund is not managed against any benchmark. The MSCI World Index and Investment Association Global Sector are shown as comparator benchmarks as per FCA PS 19-04. Past performance is not a reliable indicator of future performance. Source: Ekins Guinness LLP, MSCI, FE fundinfo.
Key Facts
Structure & Administration
| Structure |
UCITS / ISA |
Authorised Corporate Director |
Depositary | Custodian | Auditor |
Income / Accumulation |
Dividend Payment Dates |
Valuation & Cut Off |
Comparator Benchmark |
|---|---|---|---|---|---|---|---|---|---|
|
UK Authorised OEIC |
Yes |
Waystone Management (UK) Limited |
BNY Mellon |
BNY Mellon |
KPMG |
Both |
31 January & 31 July |
12 noon daily |
MSCI World Index |
Share Classes
| Share Class |
Minimum Holding |
Managment & Administration Fee |
Ongoing Charges Figure |
ISIN | SEDOL |
|---|---|---|---|---|---|
|
Z Accumulation GBP |
£200,000 |
0.45% |
0.70% |
GB00BQ1L7137 |
BQ1L713 |
|
Z Income GBP |
£200,000 |
0.45% |
0.70% |
GB00BQ1L7244 |
BQ1L724 |
|
B Accumulation GBP |
£5,000 |
0.70% |
0.95% |
GB00BLFFG644 |
BLFFG64 |
|
B Income GBP |
£5,000 |
0.70% |
0.95% |
GB00BLFFGB97 |
BLFFGB9 |
Managers
Charles Ekins
Charles is the founder and Chief Executive of Ekins Guinness LLP. Previously he was Chief Investment Officer at Valu-Trac Investment Management, prior to which he spent 19 years at Morgan Grenfell (Deutsche) Asset Management where he was a portfolio manager, member of the Investment Policy Committee and client director. He read Maths with Computing Science at Bristol University and has an MBA from the City University Business School. Charles is a Director of the Herald Worldwide Technology Fund (Dublin OEIC).
Jasper Falk
Jasper has over 20 years experience in Investment Banking. He established and managed JPMorgan’s Global Inflation trading business which assisted Pension Funds and Asset Manager clients in hedging and managing their liabilities. He was also a member of the Fixed Income Management Committee. Jasper read Engineering and Management Studies at St Catharine’s College Cambridge, and holds the Financial Times Non-Executive Director Diploma.
Holdings
(as at 29 May 2026)
Portfolio Holdings
Equity Analysis
Investment Commentary
as at 29 May 2026
The Fund rose 5.9% in May as Equity markets continued their recovery from the March lows, with many equity markets reaching new all time highs (eg US, Nasdaq, Japan although not the UK).
Year-to-date the Fund has returned 11.3% versus 10.2% for the MSCI World Index and 9.2% for the Investment Association (IA) Global Sector.
Since launch on 7th November 2022 the Fund has returned 65.1% (net of fees and costs) which is behind the MSCI World Index (72.1%) but ahead of IA Global Sector return of 53.2%. The Fund is in the 2nd quartile of the IA Global Sector over 1 year, 3 years and since inception.
In May World Equities rose 10.2% in GBP terms. Technology (+16.9%) was the stand-out sector, surging especially in the second half of the month. Materials and Consumer Discretionary gave modest positive returns (+4%) and Healthcare returned +3%, but everything else was muted by comparison. Energy (-5%) and Utilities (-4%) were the worst performing global sectors.
Despite rich Equity valuations overall, Equity markets are being driven by very strong earnings momentum especially in the US and especially in technology.
The Technology sector is the largest overweight within the Fund. It was trimmed briefly during the month as it became overbought and looked vulnerable. This wasn’t a good decision and the allocation was increased again as Tech price momentum improved. Technology is now looking overbought again, so the allocation may well be reduced again shortly. Although the allocation to Energy was reduced, it was not reduced quickly enough as Energy had a poor second half of the month.
The consequence of strong outperformance by Technology is that there are many sectors which, by definition, have lagged. Healthcare, Staples, Industrials, Financials and Utilities have all been terrible in relative terms. They are bound to offer a great opportunity when the inevitable rotation occurs. We don’t know at this stage know when this will happen but some of them are looking increasingly oversold, so the opportunity might come sooner rather than later.
Documents
Specific to WS EkinsGuinness Global Sector Rotation Fund
Specific to Fund Umbrella
Links to external sites
Umbrella Documents
Reports
How to Invest
via Platforms
Directly
The WS EkinsGuinness Dynamic Growth Fund is available on the following platforms:
| Allfunds | Aegon | AJ Bell | Ascentric |
|---|---|---|---|
|
Aviva |
Barclays |
FNZ |
Hargreaves Lansdown |
|
Interactive Investor |
Novia |
Nucleus |
Pershing |
|
Transact |
Zurich |
|
|
Contact Ekins Guinness LLP
- Call 01264 738989