Keeping up with global evolution
Guinness is not a new name to many of us. For some, yes, it may refer to the popular stout that originated in Dublin some 240 years ago. However, in the investment world I’m referring to the veteran global energy fund manager, Tim Guinness. He built his reputation when he set up Guinness Flight in the 1980s. The company was then taken over by Investec in 1998.
The most burning question on many people’s minds might be the outlook for the oil price in the short term. Mr Guinness’ most probable scenario is that oil is likely to correct to the $80-100 per barrel range. Since I met him a few weeks ago, the oil price has already fallen. Even if this happens, we are still in the middle of a secular bull market for energy and I have no doubt that over the longer term Mr Guinness will also turn this fund into a success, as he did with Investec’s fund.
Meera Patel is senior fund analyst at Hargreaves Lansdown
