Guinness family opts for equities

DUBLIN: The managers of the Guinness brewing family's fortune are putting more money into stocks and avoiding government and corporate bonds because of concern about rising debt in places such as the UK.

Iveagh Private Investment House, the company that oversees the money, is staying away from bonds sold by the British and Greek governments as well as soccer club Manchester United, said Paul Ross, chief executive officer of the asset manager.

"The key thing is to avoid the big trouble," Ross said in an interview at Iveagh's London office, which is decorated with framed advertisements for Guinness stout beer. "We've gone from almost all bonds and cash at the thick end of 2008 to currently no cash or bonds," said Ross, 46.