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Guinness Global Innovators Fund exits Intuit amid AI disruption concerns
The fund posted a 13.8% Q2 2026 return in GBP, and Intuit shares have fallen 44.1% over the past 52 weeks to $367 at Aug. 21.
Guinness Global Innovators Fund, an investment management product from Guinness, said it exited Intuit Inc. as investors grappled with concerns about AI disruption to the TurboTax franchise, according to the fund’s Q2 2026 investor update reviewed by Yahoo Finance.
In the second quarter of 2026, the fund returned 13.8% in GBP, slightly ahead of the MSCI World Index at 13.0% and the IA Global sector average at 13.1%. The update attributed the improved risk appetite to easing Middle East tensions, lower oil prices, and renewed enthusiasm for artificial intelligence.
The letter also pointed to portfolio drivers during the quarter, citing an overweight in Information Technology as a contributor to results, while an overweight in Communication Services detracted. It said avoiding weaker Utilities, Materials, and Energy also supported relative performance.
For context on the company the fund discussed, Intuit closed at $367.00 per share on Aug. 21, 2026, after a 1-month gain of 20.76%, and the shares were down 44.14% over the past 52 weeks, the update said. The fund’s note on Intuit described its position in tax and accounting software through QuickBooks and TurboTax, alongside an ecosystem spanning payments, payroll, lending, Mailchimp, and tax services.