Fundsmith Equity Fund
709.00p T Class Acc, 24 Apr 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 Equity Fund Breaks Through £500M AUM

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The Fundsmith Equity Fund launched in November 2010 by Terry Smith as the main vehicle for his own investments has reached £533m of assets under management.  Since launch the Fund has outperformed by 18.1% delivering a return of 28.0% versus the MSCI World’s 9.9% return* and it is currently ranked 1st out of more than 200 funds in the IMA Global sector since launch and over one year to 31st July**.

 
Terry Smith, Founder and Chief Executive of Fundsmith, said:

 

“I am delighted that investors have recognised the benefits of our investment approach of only investing 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.  Further 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.  

 

“Not only is the average fund manager a ‘closet indexer’ but they also charge around six times more than an index fund.  Furthermore, costs are roughly doubled when you factor in trading costs and consider FSA statistics which show the average fund has portfolio turnover of 80% per annum.”

 

Source: *Bloomberg and **Trustnet