Terry Smith questions AI boom in annual shareholder letter
Smith ‘suspending judgement’ on who eventual winners of the trend might be
Smith ‘suspending judgement’ on who eventual winners of the trend might be
Fundsmith Equity falls to fifth place
Only two of top 10 most purchased funds – Fundsmith Equity and Loomis Sayles US Equity Leaders – were actively managed
US-based cybersecurity firm has been added to the 27-stock fund
Fixed income funds saw £698m of inflows during July alone
Will become ‘more active’ in selling companies investing outside a core franchise
Fundsmith Equity was the only active fund in the top 10 list
It was the second biggest performance drag last year
Per usual, his annual letter to shareholders pulls few punches
Terry Smith’s equity fund was the only actively-managed strategy in the 10 most-bought Interactive Investor funds
The fund’s market cap continues to drop as its lifecycle comes to an end
Fundsmith Equity has opened a holding in the tech giant after this year’s slide in valuations across the sector