A thread dedicated to all things Terry Smith, who is perhaps the UK’s best money manager.
I’ve held his flagship fund in my Sipp for about a decade. While a little more pedestrian returns-wise, it has provided a good counter-balance to my more growth-focused Baillie Gifford funds.
I know @Richard.W’s also a fan.
Fundsmith Equity Fund
The Fundsmith Equity Fund, which is relatively concentrated with 29 holdings, has around £20bn under management, putting it on a par with SMT size-wise.
It has delivered a return of nearly 450% since inception against a sector average of about 167%.
The fund focuses on global large cap equities and is relatively defensive with allocations to consumer staple companies such as ULVR, RB. and PM.
While it’s an open-ended investment company, which Trading 212 cannot yet offer, it can easily be replicated with pies. Here’s the top 10:
| Security | Weight |
|---|---|
| MICROSOFT CORP | 7.93% |
| PAYPAL HLDGS INC | 6.72% |
| FACEBOOK INC | 4.64% |
| IDEXX LABORATORIES INC | 4.49% |
| NOVO NORDISK A/S | 4.48% |
| PHILIP MORRIS INTERNATIONAL INC | 4.41% |
| MCCORMICK & CO INC | 4.23% |
| INTUIT INC | 4.13% |
| ESTEE LAUDER COMPANIES INC | 3.99% |
| L’OREAL | 3.74% |
The full holdings can be found in the latest semi-annual report.
Fundsmith also offers two investment trusts – one for emerging markets and the other for global small/mid caps – which are both on the platform:
