Guinness Global Investors recently released its “Global Real Assets Fund” August 2026 investor letter. A copy of the letter can be downloaded here. The fund returned 0.8% in July, underperforming the MSCI World Core Infrastructure Index’s 1.8% gain by 1 percentage point, but remained ahead year to date, returning 11.1% versus 10.9% for the benchmark, and delivered a 14.0% one-year return compared with 13.7% for the index. Relative performance was primarily affected by the fund’s underweight allocation to industrials, the strongest-performing index sector, which gained 5.3% during the month; real estate rose 3.2%, energy gained 1.6%, and utilities declined 0.6%. The broader market was influenced by renewed Middle East hostilities, Brent crude prices briefly reaching $100 a barrel, and rising long-term government bond yields, including a 30-year U.S. Treasury yield increase from 4.95% to 5.27%. Looking ahead, Guinness remains focused on long-term opportunities in infrastructure, energy transition, data centres, and real estate, with particular optimism about U.S. senior housing, where occupancy exceeded 90% in the first quarter and new construction fell to approximately 2% of existing stock. The manager believes favorable demographic trends, constrained supply, improving occupancy, and operational growth could support returns, while continuing to monitor valuations and the risk of future oversupply. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its third-quarter 2026 investor letter, Guinness Global Real Assets Fund highlighted stocks like National Grid plc (NYSE:NGG). National Grid plc is an electricity and gas utility operating energy transmission and distribution networks in the United Kingdom and the United States. Its investment in U.S. power infrastructure reflects the growing need for reliable electricity capacity, particularly as data centers and AI increase demand for power. The one-month return of National Grid plc was 2.52% while its shares traded between $73.37 and $94.64 over the last 52 weeks. On October 13, 2026, National Grid plc stock closed at approximately $78.23 per share, with a market capitalization of about $78.30 billion.
Guinness Global Real Assets Fund stated the following regarding National Grid plc in its Q3 2026 investor letter:
“National Grid, the UK utility, agreed through its commercial arm National Grid Ventures (NGV) to invest USD1.75bn for a 35% stake in Joulent LLC, forming a strategic partnership to develop contracted power and electrical infrastructure solutions for large-load electricity demand in the US, driven by data centres and AI.”
National Grid (NGG) Makes $1.75 Billion Bet on US Data Center Power Demand
National Grid plc (NYSE:NGG) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 27 hedge fund portfolios held National Grid plc (NYSE:NGG) at the end of the second quarter, which was 30 in the previous quarter. While we acknowledge the risk and potential of National Grid plc (NYSE:NGG) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered National Grid plc (NYSE:NGG) and shared the list of stocks discussed by Jim Simon. In addition, please check out our hedge fund investor letters Q3 2026 page for more investor letters from hedge funds and other leading investors.
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This article is originally published at Insider Monkey.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
