Surging global energy demand. A finite supply of fossil fuels that’s increasingly costly to obtain – both in terms of expense and the environment. With powerful drivers like these, we think an alternative energy revolution is underway. Now you can participate in the global shift to alternative energy and renewable energy by investing in companies that explore, harness and store solar, wind, hydroelectric, tidal wave, geothermal, biomass and biofuel energy. Our Alternative Energy Fund also invests in companies that develop technology for conserving or enabling more efficient energy use.

Alternative Energy Fund
Avg. Annualized
Total Return		 Calendar YTD 1 Year 3 Years 5 Years 10 Years Since
Inception
Monthly through
03/31/2024 		-0.52% -11.09% -3.18% 14.43% 3.07% -3.55%
Quarterly through
03/31/2024 		-0.52% -11.09% -3.18% 14.43% 3.07% -3.55%
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Funds may be lower or higher than the performance quoted. Total returns reflect a fee waiver in effect and in the absence of this waiver, the total returns would be lower. Performance data does not reflect the 2% redemption fee for shares held less than 30 days and if deducted the fee would reduce the performance quoted.

Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

ALTERNATIVE ENERGY FUND HOLDINGS (as of 03/31/2024)
1.Eaton Corp PLC 4.85%
2.Trane Technologies PLC 4.82%
3.Hubbell Inc 4.82%
4.Schneider Electric SE 4.62%
5.Nextera Energy Inc 4.60%
6.Iberdrola SA 4.54%
7.Legrand SA 4.53%
8.Vestas Wind Systems A/S 3.98%
9.Samsung SDI Co Ltd 3.83%
10.First Solar Inc 3.76%
TOP INDUSTRY SECTORS (as of 03/31/2024)
Electrification 53.20%
Renewable Energy Generation 19.09%
Renewable Equipment Manufacturing 15.70%
Energy Efficiency 7.09%
Technology 3.15%
GEOGRAPHIC WEIGHT (as of 03/31/2024)
United States 46.67%
France 9.14%
South Korea 7.19%
Denmark 6.72%
China 5.94%
Spain 4.54%
Ireland 3.48%
United Kingdom 3.18%
Netherlands 3.15%
Germany 2.93%
Will Riley
Fund Co-Lead Manager

“Global energy concerns are going to be absolutely central to political and social decisions that are made over the next decade.“

Will Riley has a mind for finance and a passion for global energy. With over twelve years in finance and eight years of valuation analysis, his goal is to find the most attractive investments across the global energy spectrum. While mainstream energy is clearly an issue of central importance today, Will…

Read more of Will Riley's background >

“Global energy concerns are going to be absolutely central to political and social decisions that are made over the next decade.“
Will Riley Fund Co-Lead Manager

Will Riley has a mind for finance and a passion for global energy. With over twelve years in finance and eight years of valuation analysis, his goal is to find the most attractive investments across the global energy spectrum.

While mainstream energy is clearly an issue of central importance today, Will believes that interest in the sector will increase markedly as the combination of growing demand and dwindling supply signals a continued rise in energy prices. His simple enjoyment of analysis and his enthusiasm for the market continually drive him to find lucrative opportunities. And while he can spend hours pouring over spreadsheets and analyzing data, he also thrives on the spirited debates of the Guinness Atkinson team—a cornerstone of our investment process.

Trend not to be overlooked: The breadth of growth in oil demand across the developing world, not just from China.

Will's Funds:
Global Energy Fund >
Quick Stats

2014 Began co-lead managing the Global Energy Fund

2010  Began co-managing the Global Energy Fund

2007  Joined Guinness Atkinson in May, serving as a member of the energy investment team

2003  Qualified as a Chartered Accountant

2000  Joined PricewaterhouseCoopers; worked in the London Middle Market Assurance Team, then as a valuation specialist in the Valuation & Strategy Division

1999  Graduated from Cambridge University with a Masters degree in Geography

 

Jonathan Waghorn
Fund Co-Manager

Jonathan Waghorn is well known and regarded in the energy sector for his rigorous and disciplined investment process. With over 17 years of experience working in the energy investment sector, his investment process is one that has been sharply honed. With a master’s degree in physics, Jonathan is able to bring…

Read more of Jonathan Waghorn's background >

Jonathan Waghorn Fund Co-Manager

Jonathan Waghorn is well known and regarded in the energy sector for his rigorous and disciplined investment process. With over 17 years of experience working in the energy investment sector, his investment process is one that has been sharply honed.

With a master’s degree in physics, Jonathan is able to bring a highly analytical and tactical approach to observing the always evolving energy market. As an accomplished energy equity researcher and portfolio manager, he thrives on analyzing data trends in order to find exciting investment opportunities. His unrivaled passion for energy and its importance in the ongoing evolution of the world’s population makes him a valuable member of the Guinness Atkinson team.

 

Trend not to be overlooked: the inability of the world’s producing countries to deliver sufficient oil and gas volumes to satisfy the long term demand outlook

 

References to other funds should not be considered an offer of these securities.

Jonathan's Funds:
Energy >
Quick Stats

 

1995 – Graduated from University of Bristol with a Masters degree in physics.

1996 – Drilling engineer for Shell International in the Netherlands

1998 – Oil and gas research analyst for Wood Mackenzie Global Consultants

2000 –Oil and gas equity analyst for Goldman Sachs International

2008 – Became co-portfolio manager of Investec Global Energy Funds.

2013 – Joined Guinness Atkinson as co-portfolio manager of Global Energy Fund.

 

References to other funds should not be considered an offer of these securities.

The Advisor has contractually agreed to reduce its fees and/or pay Fund expenses (excluding Acquired Fund Fees and Expenses, interest, taxes, dividends on short positions and extraordinary expenses) in order to limit the Fund’s Total Annual Operating Expenses to 1.10% through June 30, 2026.  To the extent that the Advisor absorbs expenses to satisfy this cap, it may recoup a portion or all of such amounts absorbed at any time within three fiscal years after the fiscal year in which such amounts were waived or absorbed, subject to the expense cap in place at the time recoupment is sought, which cannot exceed the expense cap at the time of the waiver. The expense limitation agreement may be terminated by the Board of the Fund at any time without penalty upon 60 days’ notice.