Terry Smith, manager of the £16.4bn Fundsmith Equity fund, has highlighted strong long-term performance and low transaction costs against his rivals, in a bid to defend the weakest returns since inception the fund saw last year.
In his annual letter to shareholders, released every January, Smith acknowledged the fund had returned 2.2% over 2018, which was the "weakest [performance] in absolute terms since inception". However,...
Japanese stocks have more than doubled their returns since December 2012, on the back of Abenomics, but many investors are still not convinced of the sustainability of the rally.
Shares up 15% on Friday