Global  

Guinness duo wary of US mid caps

The Guinness Global Equity Income fund has underperformed relative to its peer group in recent months in spite of its shift to cyclicals, as the fund still has exposure to defensive sectors such as consumer staples.

In the past six months, it has delivered a return of 6.2 per cent, compared with the IA Global Equity Income average return of 9.5 per cent, according to FE Analytics. 

But the fund has outperformed the sector average by 13.1 percentage points in the past three years and by 14.7 percentage points in the past five years.