Please enter a keyword and press return to search
Or explore one of the topics below
Most fund managers will send you a glossy brochure. At Fundsmith we want you to have an Owner’s Manual. Why? Because your understanding of what we are trying to achieve and how we will approach it is a critical element in enabling us to attain our goal.
Every January we publish our annual letter to shareholders which reviews our investment strategy, performance, portfolio changes and other important issues at large that we believe our shareholders should be aware of.
This document sets out what we mean by responsible investment and how we integrate ESG (environmental, social and governance) factors into our investment process.
It might be tempting to view last week’s fall in the AstraZeneca share price in isolation, related to the disappointing results of the “Mystic” lung cancer drug trial. However, I suspect that AstraZeneca’s problems go much deeper than a setback for a single drug.
Investment in equities has a unique advantage over other asset classes which is rarely understood and almost never discussed.
As investors we are taught that to obtain higher returns you must assume higher risk, but much of the evidence contradicts this assumption.
I have increasingly formed the view that there are some words and phrases which are used by company management, analysts and commentators which investors should be wary of.
You can take at least one vital lesson for successful investment from the Tour. It has never been won by a rider who won all the stages, and it never will.
Capital allocation decisions are amongst the most important decisions which management make on behalf of shareholders. In this document we analyse whether the current vogue for share buybacks is justified.
This is one of the strongest options for investors seeking exposure to high quality global equities.
