• Fidelity - Three steps to heaven

    February 27, 2015

    Three Steps to Heaven was a posthumous No. 1 hit by Eddie Cochran for which Showaddywaddy did a cover version. At Fundsmith it’s the foundation of our investment process for the Fundsmith Equity Fund: 1. Invest in good companies; 2. Don’t overpay; 3. Do nothing

    Full story

    Terry Smith

    Fidelity

  • Financial Times - Shareholder value is an outcome, not an objective

    February 06, 2015

    In the first article of this two-part series I explained how I define the term shareholder value: whether or not a company is able to generate a sustained return on capital employed (“ROCE”) above its cost of capital. This time I want to link that definition with shareholder activism.

    Full story

    Terry Smith

    Financial Times

  • Charles Stanley Direct - Why you should invest in good companies

    February 05, 2015

    In order to understand why you should seek to invest in good companies you first need to define what a good company is. In my view, a good company is one which creates value for its shareholders by making a high return on capital-significantly above its cost of capital-across the business end economic cycle.

    Full story

    Terry Smith

    Charles Stanley Direct

  • Money Observer - Video interview with Terry Smith: Don't just do something, sit there!

    January 30, 2015

    In this video for Money Observer, Terry Smith explains why being less active than other fund managers helped propel Fundsmith Equity to a 100%-plus gain after four years.

    Full story

    Andrew Pitts and Terry Smith

    Money Observer

  • Financial Times - What exactly do we mean by ‘shareholder value’?

    January 09, 2015

    As an investor you will probably have encountered two terms which have the word “shareholder” in common: shareholder value and activist shareholder. In this and a subsequent article, I’ll attempt to explain what I think these terms really mean and how they fit into the world of investment.

    Full story

    Terry Smith

    Financial Times

  • Financial Times - Let’s all do the corporate hokey-cokey

    December 05, 2014

    Companies that grew by merger are now rushing to split themselves up - the most prominent tendency lately seems to be to split companies into smaller enterprises, predominantly in the US but also closer to home. Even in the limited number of sectors and companies in which Fundsmith seeks to invest, there has been a rush to demerge.

    Full story

    Terry Smith

    Financial Times

  • Telegraph - Is this the next Tesco?

    November 29, 2014

    Terry Smith appreciated Tesco's problems earlier than most. Now he identifies another world-famous company that canny investors would do best to avoid.

    Full story

    Terry Smith

    The Telegraph

  • Telegraph - Terry Smith: 'I've returned 17pc a year by following these three rules'

    November 10, 2014

    In the latest in our video series, Terry Smith expands on how he picks winning shares. Mr Smith's Fundsmith Equity fund has returned 86pc in its first four years, outperforming a common benchmark for worldwide stock markets, the "MSCI World index", by 34pc and the typical global fund by 53pc.

    Full story

    Andrew Oxlade

    The Telegraph

  • Barclays Stockbrokers TV - Equities and the global economy - Fundsmith

    November 03, 2014

    In this video for Barclays Stockbrokers TV, Terry Smith explains why Fundsmith’s definition of long-term investing is forever. He seeks to invest in good companies and the average company in the Fundsmith Equity Fund has been in existence for over a century.

    Full story

    Barclays Stockbrokers TV

    https://www.barclaysstockbrokers.co.uk/Market-Insight/Analysis/Pages/stockbrokers-tv.aspx?videoID=15210

  • Financial Times - Why I don’t own bank shares

    October 31, 2014

    This seems like a good week to explain why I don’t own bank shares. Although it is seven years since the onset of the financial crisis, around 24-25 banks in Europe still have insufficient capital, according to the latest European Central Bank “stress tests”.

    Full story

    Terry Smith

    Fundsmith

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. Next page

Press Releases

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. Next page

Our Blog

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. Next page

We use cookies to make your experience of our website better. To comply with the new e-Privacy Directive we need to ask for your consent to set these cookies. By closing this message you consent to the use of cookies on this device in accordance with our cookie policy.
To learn more about cookies please view our Privacy & Cookie Policy.