Terry Smith News

10.01 / 14:21

Strategy Apple performer stage Latin information Fundsmith Equity fund sells long-term holdings in Diageo and Apple in 2024

In the fifteenth annual letter to his clients, Terry Smith, the manager of the £22.7bn Fundsmith Equity strategy, said the fund disposed of its holdings in Diageo, «which we had owned since inception». This came following «problems with [Diageo's] new management, shown by a lack of information about its Latin American business», Smith said, which resulted in poorer performance compared to the sector in this area. Fundsmith's profit decline forces Terry Smith to take second pay cut «Moreover, we suspect the entire drinks sector is in the early stages of being impacted negatively by ...

10.02 / 08:57

FIVE Apple PepsiCo performer information Fundsmith sells out of PepsiCo while making unnamed investment

Terry Smith's £23.7bn flagship mandate exited its full PepsiCo stake in January 2025, as per the latest factsheet information. The fund had been invested in the stock for at least a decade and it held a top ten position over most of that time, according to disclosure records. Fundsmith Equity fund sells long-term holdings in Diageo and Apple in 2024 PepsiCo, which is the creator of the namesake soft drink, was highlighted back in Smith's 2023 semi annual letter to shareholders for its strong performance. However, by August 2024 it was among the fund's top five performance detrac...

11.11 / 11:07

NVIDIA MSCI Fundsmith's profit decline forces Terry Smith to take second pay cut

Smith took home at least £27.9m before tax, down from £31.2m a year ago, according to the firm's accounts filed on Companies House on Friday (8 November). In the 12-months to 31 March 2024, Fundsmith's profits fell to £46.4m, down from £50m last year, a figure that has resulted in the 17 profit-taking members receiving reduced pay outs. Terry Smith: Nvidia is too unpredictable for Fundsmith to invest in This comes as Smith's flagship fund, Fundsmith Equity, which manages £22.8bn for its investors, continues to underperform its MSCI World benchmark having made 8.4% versus 19.3%, re...

15.10 / 16:29

Finsbury Growth & Income sees 1.6% NAV uptick as falling rates boost consumer names

According the trust's latest monthly factsheet, Finsbury also saw its share price bolstered by 1.5%, compared to the 0.9% fall the previous month, a boost partly the result of a 12% and 7% increase in the trust's large positions in Unilever and Diageo, respectively. While Diageo was sold by rival Terry Smith's Fundsmith in August, Train argued that the roughly 40% share price fall from the company's 2021 peak represents «a buying opportunity for a company that can credibly be claimed as a global leader in an attractive industry». «It is evident investors are trying to find a share pr...

19.08 / 08:10

reports Spot the Dog: 9% fall in underperforming funds as Fundsmith and Lindsell Train drop out of the list

Bestinvest classifies funds that have consistently underperformed over three consecutive 12-month periods and by 5% or more during those three years as «in the doghouse». Despite the fall in the number of ‘dog' funds over the last six months to 30 June, Bestinvest noted that fund groups should renege from «congratulating themselves» as the 137 funds in the report remains significantly higher than the 56 funds flagged a year ago. Having made its first appearance in the Spot the Dog survey earlier this year, Terry Smith's flagship £24bn Fundsmith Equity was omitted from the list this ...

13.07 / 12:59

NVIDIA MSCI Profiles Terry Smith: Nvidia is too unpredictable for Fundsmith to invest in

Writing to shareholders in his semi-annual letter, Smith outlined the fund's return profile for the opening half of the year. Fundsmith Equity made a 9.3% total return between 1 January and 30 June 2024, which Smith said would «normally be cause for celebration», especially as the fund outperformed bonds — when using the Bloomberg Series-E UK Govt 5-10 Year Bond index as a proxy comparison (-2.2%) and holding cash at a 2.6% interest rate. However, on this occasion, Fundsmith's returns underperformed the MSCI benchmark. The MSCI World index made 12.7% over the six-month period, whic...

03.05 / 07:43

UPS FIVE Updates Terry Smith adds US semiconductor firm to Fundsmith Equity

According to its latest monthly update, the £24.76bn fund took a «small» holding in the firm in April for an undisclosed amount. As its name suggests, the Nasdaq firm was founded and is still headquartered in Dallas, Texas. It produces both analog and embedded processing chips. Fundsmith Equity withholds name of new stock allocation Over the past year, the stock's share price has risen 7.6%, according to the index's data, and is up just under 50% over five years. Fundsmith Equity also invested in a second firm in April, but said it would reveal the stock «when we have accumulate...

25.03 / 18:59

Adobe Morningstar Morningstar downgrades Fundsmith Equity due to 'wrongly timed' exits

Manager Terry Smith has run a 'buy-and-hold' mantra in running the flagship fund, which Daniel Haydon, analyst at Morningstar, said had «long been an edge», but added «some questions have become apparent more recently». Fundsmith Equity makes Bestinvest's 'Spot the Dog' list for the first time Pointing to the recent sales of Adobe, Amazon, Estee Lauder and PayPal, Haydon said Smith himself had «admitted to the wrong timing» on each of them. Last year, Smith sold Adobe after the now-aborted merger with Figma was announced, while Amazon was removed due to capital efficiency concerns ...

12.02 / 08:21

markets Reuters CEO Strategy ICE performer reports Unilever CEO pursuing strategic shift with Peltz's backing

Unilever CEO Hein Schumacher said billionaire activist and board member Nelson Peltz is «fully behind» a recently devised strategy to re-invigorate the company, even as some other investors remain sceptical after years of industry underperformance. Schumacher told Reuters he wants Unilever, whose brands include Dove soap, Hellmann's condiments and Ben & Jerry's ice cream, to chart a «systematic» marketing strategy for its top brands.

09.01 / 18:18

Microsoft NVIDIA Meta funds Fundsmith Equity's Terry Smith questions if there are any AI winners

Terry Smith (pictured) manager of Fundsmith Equity

06.01 / 05:48

markets COST Strategy Remark Research Trade performer market volatility 4 key investment principles by Terry Smith to help wade through market volatility

Warren Buffett" due to his dedication to value investing and remarkable performance over time. As the founder and Chief Investment Officer of Fundsmith, a United Kingdom-based investment management firm, he has built a reputation for prioritizing high-quality, globally listed companies. At the core of Smith’s investment philosophy is the strategy of acquiring and retaining robust businesses for extended periods, diverging from the short-term trading strategies commonly used by numerous fund managers.

04.01 / 18:58

UK Pensions Investment trusts funds Unit trusts/OEICs Vanguard fundsmith Fundsmith Equity slips further down ii most bought list

Royal London Short Money Market first took the top spot in October 2023, where it remains, while the £22.7bn Terry Smith fund has since been further overtaken by L&G Global Technology Index and Vanguard LifeStrategy 80% Equity.

14.11 / 15:33

People moves Foresight Group exits Foresight Group fund manager Mark Brennan exits firm

Brennan joined Foresight in 2017 as an investment manager, before becoming senior investment manager, director and then partner in 2021.

14.11 / 15:33

companies Aum Fundsmith Equity fundsmith Terry Smith's payout slips to £31m as Fundsmith assets and profits slide

The firm’s flagship fund, Fundsmith Equity, held £23.9bn in assets at the end of September, down from a peak of about £28.8bn in December 2021, according to data from FE fundinfo.

03.11 / 12:37

Morningstar Fortinet Unit trusts/OEICs Fundsmith Equity fundsmith stake Fundsmith Equity takes stake in cybersecurity firm Fortinet

Terry Smith (pictured), is the manager of the £22.3bn Fundsmith Equity fund.

06.09 / 11:27

Technology Microsoft Tesla NVIDIA Vodafone FTSE 100 fundsmith Fundsmith Equity and Scottish Mortgage retain bestseller crowns in August

Out of the ten most bought funds for the period, half were trackers either from Vanguard, L&G or HSBC.

11.07 / 14:07

Amazon Microsoft companies Meta Returns fundsmith Tech companies drive Fundsmith's H1 returns following Amazon sale

Terry Smith (pictured) is the CEO of Fundsmith and manager of the Fundsmith Equity fund

22.02 / 16:23

fundsmith stake Jupiter slashes stake in Terry Smith’s flagship Fundsmith by 75% in value shift

One of Terry Smith’s biggest backers has significantly slashed its holding in his flagship fund by £740m in the past two years, compounding a difficult period of outflows and poor performance for the star manager.

10.01 / 12:13

Terry Smith: My underperformance was ‘inevitable’

Star stock picker Terry Smith has defended the performance of his flagship Equity fund, claiming negative returns posted last year were “inevitable” as the era of easy money drew to a close and the tech stock bubble burst.

09.01 / 12:20

UPS FIVE Terry Smith pockets another £36m in five-year pay bonanza streak

Best-selling UK fund manager Terry Smith took home £36m during the 12 months to the end of March 2022, the latest in a string of multimillion-pound payouts for the star stock-picker, which have amounted to almost £130m over the past five years.

14.09 / 11:15

UPS Returns fundsmith fall Fundsmith to wind up Emerging Equities trust as returns fall ‘below expectations’

Fundsmith, the investment house run by star stock-picker Terry Smith, is winding up its Emerging Equities trust amid a run of performance that has fallen "below expectations".

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