WHAT WE ARE SAYING

Issue of Equity

01 October, 2020 16:53:06 | By Smithson

Net Asset Value(s)

01 October, 2020 10:46:39 | By Smithson

Net Asset Value(s)

01 October, 2020 10:46:39 | By Smithson

Net Asset Value(s)

30 September, 2020 10:58:04 | By Smithson

Net Asset Value(s)

30 September, 2020 10:58:04 | By Smithson

Issue of Equity

29 September, 2020 16:07:25 | By Smithson

Net Asset Value(s)

29 September, 2020 10:51:38 | By Smithson

Net Asset Value(s)

29 September, 2020 10:51:38 | By Smithson

Issue of Equity

28 September, 2020 17:46:17 | By Smithson

Net Asset Value(s)

28 September, 2020 10:53:11 | By Smithson

What others are saying

Money Marketing - Will a Terry Smith-backed investment trust be a victor of the crisis?

14 May, 2020 | By Justin Cash

Portfolio manager Simon Barnard tells us how he is piloting Smithson – the trust the star manager, Terry Smith, helped fund – through choppy waters.

Portfolio Adviser - Smithson reveals stocks that have aided its coronavirus outperformance

01 April, 2020 | By Jessica Tasman-Jones

Fundsmith investment trust delivers less than half the 23% falls seen in the MSCI index. The Smithson Investment Trust has revealed the stocks in its portfolio that have buoyed performance during the coronavirus sell-off as part of a remote presentation given during its first AGM.

Master Investor - Smithson’s quality bias leaves it well placed to weather the storm

23 March, 2020 | By Nick Sudbury

The Smithson Investment Trust has held up better than many other equity funds because of its quality bias and focus on strong balance sheets.

Shares - Terry Smith's Smithson outperforms in first year since listing

27 February, 2020 | By Yoosof Farah

In its first set of annual results since listing, Terry Smith’s fledgling investment trust Smithson has significantly outperformed its benchmark.

Smithson Investment Trust: Early signs suggest long-term success

29 October, 2019 | By Miles Costello

Never one to care much what the rest of the world thinks of him, Terry Smith has contentedly ploughed his own furrow since setting up his own investment management firm nine years ago. With a distinctive, selective, long-term investment style, Fundsmith made its name with the unlisted £18 billion Equity Fund, which was launched in 2010.

Shares - Smithson lives up to the hype as the Fundsmith trust turns one

10 October, 2019 | By Daniel Coatsworth

A year ago Smithson became the largest ever investment trust launch, raising £822.5m to invest in quality small to mid-cap companies. Investors lapped up the shares in the hope they would deliver similar success to its sister fund, Fundsmith Equity. Their faith has been rewarded with Smithson having achieved 18.8% return...

Morningstar - Smithson Investment Outperforms Benchmark In Improving Market

13 August, 2019 | By Morningstar

Smithson Investment Trust PLC said Tuesday it outperformed its comparative index for the period from its London listing on October 19 last year to the end of June, amid improved market conditions.

Money Marketing - Inside Fundsmith’s new investment trust (video)

02 October, 2018 | By Money Marketing

Last month, star manager Terry Smith announced he was throwing £25m of his own money behind a new investment trust, Smithson. Ahead of its launch, Money Marketing editor Justin Cash sat down with Simon Barnard and Will Morgan, the fund’s managers, to talk strategy, as well as their thoughts on some of the hottest topics in investments.

What Terry Smith IS SAYING

Financial Times - There are only two types of investors

02 July, 2020 | By Terry Smith

I last wrote about the problems of so-called market timing in these pages in 2013 (Market timing: don’t try this at home). With the Covid-19 pandemic dominating the news and recent volatility on world stock markets, you may have heard a lot about market timing again...

Financial Times - Never let a crisis go to waste

30 April, 2020 | By Terry Smith

We now have a fully-fledged economic crisis caused by the reaction to the Covid-19 pandemic. What should you do about it in terms of investment? I would strongly advise avoiding the approach of many investment advisers or analysts...

Money Observer - Fundsmith’s Terry Smith: forecasters are like Michael Fish

03 January, 2019 | By Terry Smith

Tumult, turbulence and turmoil are just the words beginning with the letter T used by commentators to describe the behaviour of stock markets in October. I think it’s always good to look at the definition of the words we are being asked to accept. For example: turmoil, noun: a state of great disturbance, confusion, or uncertainty . synonyms: confusion, upheaval(s), turbulence, tumult, disorder.

Financial Times - Busting the myths of investment: Do equities outperform bonds?

07 November, 2018 | By Terry Smith

As an equity fund manager, questioning the investment myth that equities outperform bonds is the equivalent of coprolalia, an occasional characteristic of Tourette’s syndrome in which the sufferer involuntarily utters socially inappropriate remarks.

Financial Times - Busting the myths of investment: who needs income?

03 October, 2018 | By Terry Smith

There seems to be something so alluring about dividend income that it often seems to lead investors to abandon common sense or be encouraged to do so by the investment industry. For example, how many times have you heard it said that the majority of returns from investment in equities comes from reinvestment of the dividends?

Financial Times - Busting the myths of investment

01 September, 2018 | By Terry Smith

Adding small-caps to a global equity portfolio adds value without heightening the risk. If you are an investor you may have encountered these two adages. First, that in order to earn a higher return you must take greater risk. Second, asset allocation is the most important contributor to performance.

Financial Times – ESG? SRI? Is your green portfolio really green?

18 January, 2018 | By Terry Smith

You decide to buy a car. You tell the dealer you want to be environmentally responsible and trust him to supply something appropriate. You had an electric car in mind but he supplies a hybrid. Not too bad, but when it arrives you find that the internal-combustion part of the power plant is a diesel supplied by a German maker caught lying about emissions.

Financial Times – AstraZeneca is beginning to look like Tesco

04 August, 2017 | By Terry Smith

It might be tempting to view last week’s fall in the AstraZeneca share price in isolation, related to the results of the “Mystic” lung cancer drug trial. However, I suspect that AstraZeneca’s problems go much deeper than a setback for a single drug.