Investing in the Sicav feeder will incur an identical 1% annual management charge as investing directly in the UK Oeic. The advantage of the new vehicle, says Smith, is that it providers an efficient solution for private client managers and offshore investors to invest in their preferred vehicle while maintaining a single pool of assets.
The Fundsmith Equity Fund was launched in November 2010, and has since delivered 12.1% versus the MSCI World Index’s 1.7%. Managed by Smith, it takes a long-term buy and hold strategy, investing across a concentrated portfolio of 20 to 30 resilient global growth companies with no benchmark or sector constraints.
Fundsmith was set up in 2010 by ex-Collins Stewart chief executive Smith, alongside Keith Hamill, and has offices in London and Connecticut.
