Fundsmith Equity Fund
692.28p T Class Acc, 23 Jul 24

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An ISA (Individual Savings Account) is a savings account available to UK residents on which the return is tax-free and which need not be declared on the investor’s tax return. All income (dividends and interest) and all capital gains within the account are free of tax. For the current year, 6 April 2024 to 5 April 2025 the overall investment limit is £20,000 (excluding the British ISA which has a separate £5,000 limit).

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Fundsmith Launches First UCITS IV Luxembourg SICAV Feeder Fund

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Fundsmith today announces that it is the first UK fund management company to use the recent UCITS IV legislation allowing them to launch a regulated SICAV feeder fund in Luxembourg. 


The Fundsmith Equity Fund Feeder provides investors who prefer to invest offshore, or through a SICAV, access to the Fundsmith Equity Fund whilst ensuring that the costs of running the funds are kept to a minimum as Fundsmith is able to manage a single pool of assets.  


The Fundsmith Equity Fund was launched in November 2010 by Terry Smith.  Since launch one year ago, the Fund has outperformed by 10.4% delivering a return of 12.1% vs the MSCI World’s 1.7% return*. It is the main vehicle for his own investments, and offers investors the opportunity to invest alongside him in a high quality, concentrated portfolio of 20-30 resilient global growth companies which are held for the long term.   The portfolio has no benchmark or sector constraints. The Fund charges a flat 1% AMC, if bought direct plus minimal trading costs due to Fundsmith’s long term buy and hold investment strategy.


Investing via the SICAV Feeder will incur an identical Annual Management Charge (AMC) as investing directly in the UK OEIC thus preserving the low cost structure.

Terry Smith, Chief Executive of Fundsmith, said:


“We are delighted to come to the market so quickly with our SICAV.  The UCITS IV directive allowing a master-feeder structure is excellent news for private client managers and offshore investors as it provided us with an efficient solution to allow investors their preferred vehicle whilst maintaining a single pool of assets and low AMC."