Fundsmith Equity T Inc

Fundsmith Equity T Inc
Fundsmith LLP
Open Ended Investment Company
1.05 %
Risk Rating
3 Year Sharpe
3 Year Alpha
0.6 %
The fund’s objective is to achieve long term growth in value, investing in shares of companies on a global basis. The fund’s approach is to be a long-term investor in its chosen stocks and it will not adopt short-term trading strategies. The fund aims to invest in businesses: • that can sustain a high return on operating capital employed; • whose advantages are difficult to replicate; • which do not require significant borrowing to generate returns; • with a high degree of certainty of growth from reinvestment of their cash flows at high rates of return; • that are resilient to change, particularly technological innovation; • whose valuation is considered to be attractive; The fund will not invest in derivatives nor hedge any currency exposure.
Holding %
Amadeus IT Group SA A 6.09 %
Microsoft Corp 5.88 %
PayPal Holdings Inc 5.85 %
IDEXX Laboratories Inc 4.71 %
Reckitt Benckiser Group PLC 4.53 %
Facebook Inc A 4.39 %
Philip Morris International Inc 4.37 %
Waters Corp 4.18 %
Becton, Dickinson and Co 4.18 %
Stryker Corp 4.11 %
Region %
United States 64.64 %
United Kingdom 18.46 %
Eurozone 11.43 %
Europe - ex Euro 5.47 %
Sector %
Consumer Defensive 25.72 %
Healthcare 25.71 %
Technology 23.01 %
Industrials 12.43 %
Financial Services 9.62 %
Fundsmith LLP
W1G 0PW, London, United Kingdom
Legal Structure
Open Ended Investment Company


Terry Smith
Joined 11/01/2010

Terry Smith graduated in History from University College Cardiff in 1974. He worked for Barclays Bank from 1974-83 and became an Associate of the Chartered Institute of Bankers in 1976. He obtained an MBA at The Management College, Henley in 1979. He became a stockbroker with W Greenwell & Co in 1984 and was the top-rated bank analyst in London from 1984-89. In 1990 he became head of UK Company Research at UBS Phillips & Drew, a position from which he was dismissed in 1992 following the publication of his best selling book Accounting for Growth. He joined Collins Stewart shortly after, and became a director in 1996. In 2000 he became Chief Executive and led the management buy-out of Collins Stewart, which was floated on the London Stock Exchange five months later. In 2003 Collins Stewart acquired Tullett Liberty and followed this in 2004 with the acquisition of Prebon Group, creating the world's second largest inter-dealer broker. Collins Stewart and Tullett Prebon were demerged in 2006 with Terry remaining CEO of Tullett Prebon until September 2014. In 2010 he founded Fundsmith where he is CEO and CIO. In 2012 he was appointed a Member of the New Zealand Order of Merit for services to New Zealand-UK relations following the success of his campaign to commemorate the New Zealander, Air Marshal Sir Keith Park."

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