Terry Smith hits out at negative headlines in shareholder letter

Highlights strong performance of Fundsmith Equity fund

Anna Fedorova
clock • 2 min read
Terry Smith, veteran manager of the Fundsmith Equity fund
Image:

Terry Smith, veteran manager of the Fundsmith Equity fund

Terry Smith, manager of the £27bn Fundsmith Equity fund, has written an unexpected letter to shareholders defending the fund from headlines which predicted its demise earlier this year.

In the letter, Smith highlights articles from Citywire and City A.M. in May which focused on the outflows from the vehicle in the midst of the much-anticipated rotation from growth to value investing. He wrote: "If you have been reading what investment commentators have been saying during this period you might be rather surprised that our fund has fared so well. You might even be surprised that we are still here. "I realise that some commentators do not want the facts to get in the way of a good story but our performance versus the 'value' stocks and Covid recovery plays tells its own...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

Daryl Liew, CIO at REYL Singapore.

REYL's Liew eyes return to overweight positions in Asian quality growth names

'It's a question of timing'

clock 28 June 2022 • 3 min read
Industry Voice: T. Rowe Price's 2022 Midyear Market Outlook summary

Industry Voice: T. Rowe Price's 2022 Midyear Market Outlook summary

Transitioning to a new paradigm

Ritu Vohora, Investment Specialist, Capital Markets at T. Rowe Price
clock 23 June 2022 • 2 min read
Amazon shares are down 40% from its peak

Growth stock pickers feel like 'a kid in a candy shop'

'It is time to go shopping'

clock 22 June 2022 • 4 min read
Trustpilot