Technically speaking, Terry Smith is not a hedge fund manager. The UK based fund manager, founded and manages the Fundsmith Fund, which today manages more than $20 billion of assets for clients, which mostly include small UK-based investors.
On 24th March, The Sunday Times wrote an article suggesting that we were in breach of the FCA rules by failing to publish our full portfolio online. Today they have published a prominent apology, confirming there is no FCA or other obligation to do so and that we disclose our full portfolio of investments upon request. As we informed them ahead of publication of the original article, The Sunday Times has confirmed that we are not in breach. “We apologise to Mr Smith for this error.”