Smithson investment trust, the brainchild of Terry Smith, will become the biggest ever investment trust launch when it makes its stock market debut later this week (19 October), pipping Neil Woodford’s Patient Capital Trust, which previously held the crown.
The third quarter saw a marked improvement in activity for investment trust launches and the signs are that the last three months of the year will be a busy affair.
Interest in Smithson investment trust appears to be picking up, with the trust’s board announcing an increase in shares on offer to investors before launch, more than doubling its original fundraising amount.
The brain child of veteran investor Terry Smith, Smithson was originally aiming to raise £250 million. The amount of shares offered to investors in the subscription stage has now been increased, leading to a launch target of £600 million.
What is Fundsmith Equity?
Fundsmith Equity is a long-only global equity fund [meaning it invests with a long-term view in global companies].
What do you look for in companies you buy?
We only invest in good businesses. This may sound blindingly obvious, but you might be surprised how many investors either don’t do this or don’t have a good definition of a high-quality business.
The big names of fund management – Smith, Woodford, Lindsell and Train – lead the most-bought list once again.
Fundsmith Emerging Equities investment trust's board is looking at a rule change to further boost exposure to India.
Neil Woodford’s new income fund has climbed up our top 10 table, but has been unable to dislodge Terry Smith from top spot.
Is this the future of long-term fund management? That is the question I asked myself when assessing the exemplary record produced by Fundsmith Equity and its manager, Terry Smith.