Smithson to quickly deploy record £822.5m raise
Fundsmith investment trust more than tripled its initial target
Fundsmith investment trust more than tripled its initial target
Fundsmith Equity shunned despite lower fees and longer track record than some constituents
Fundsmith Equity is yet to be tested during a prolonged market fall
Smithson Investment Trust more than doubles IPO target to £600m
Terry Smith will not manage the new Smithson Investment Trust
Terry Smith has stated he remains “firmly in place” at the helm of Fundsmith as the boutique asset manager promotes three stalwarts of the business as partners.
The Fundsmith Emerging Equities Trust (Feet) has fallen 5.3% in H1, but defensive stock picks mean the net asset value did not fall as much as the benchmark.
Terry Smith’s Fundsmith Sustainable Equity shows early signs of outperforming his flagship fund, which does not adopt environmental, sustainable or governance (ESG) screens.
Shares in British software firm Sage, owned by a slew of big shareholders including Terry Smith and Nick Train, have taken a major hit after the group missed its revenue growth target.
Star fund manager Terry Smith has hit back at critics who believe the defensive growth stocks he invests in are overvalued and that equities are in a bubble.
Terry Smith’s eponymous firm increased profits six-fold last year with the veteran fund manager set to scoop a bonus of more than £8m as a result.
Terry Smith has launched a sustainable fund for institutional investors after three years running a segregated mandate for UK charity, Comic Relief.