RORY GUINNESS of the famous brewing family was in town recently to launch the Iveagh Wealth Fund in Ireland. Launched in London in 2008, it has more than £180 million under management and is now seeking to expand its activities to this side of the Irish Sea.

It is seeking investments of €50,000-plus from Irish clients, who might be attracted by its steady

returns and prudent investment principles.

“We’re long-term players,” is how Guinness summed up the fund’s philosophy when we met in Dublin. “We use our processes to steer our customers clear of trouble. We’re about looking after money so that it can be passed from one generation to the next.”

The wealth fund uses Exchange Traded Funds to “populate” its asset allocation and has delivered a positive return of 10.4 per cent since inception.

Iveagh Ltd was started by key members of the Guinness family along with other wealthy families.

The Guinness family office has managed their financial affairs since 1886 when the first Earl of Iveagh (Rory’s brother Ned currently holds the title) sold some of his stake in the family brewery.

Rory, whose late father Benjamin was the last family member to be actively involved in the brewer, was coy about the size of the Guinness family wealth or how much they have invested in the Iveagh Wealth Fund.

“That’s a cheeky question,” he said with a twinkle in his eye.

“I’ve got money invested and there are a couple of cousins in there

too.”

The fund already has Irish links – it is administered by BBH in Dublin and is listed on the Irish Stock Exchange.