Terry Smith slams Unilever over company's ESG focus

Smith's fund underperformed MSCI

clock • 1 min read
Fundsmith Equity fund manager Terry Smith

Fundsmith Equity fund manager Terry Smith

Fund manager Terry Smith has attacked Unilever for being “obsessed” with sustainability, after it was one of the worst performing firms in his portfolio.

Smith's £29bn Fundsmith Equity fund, the UK's largest retail vehicle, underperformed in 2021, which he defended in his annual letter to investors. Smith attacked Unilever and PayPal in the letter, writing...

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