Fundsmith Equity Fund R Class Acc


Buy/Sell Price  (as of 27/09/2016) £2.8391   Day Change :  -0.53%     Fund Code:  FDERA 

Important documents Before investing please ensure that you have read the Fidelity Key Features Document (incorporating the Fidelity Client Terms) and the fund information documents. These can be found by clicking on the 'Important documents' link.

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Biography

Terry Smith graduated in History from University College Cardiff in 1974. He worked for Barclays Bank from 1974-83 and became an Associate of the Chartered Institute of Bankers in 1976. He obtained an MBA at The Management College, Henley in 1979. He became a stockbroker with W Greenwell & Co in 1984 and was the top-rated bank analyst in London from 1984-89. In 1990 he became head of UK Company Research at UBS Phillips & Drew, a position from which he was dismissed in 1992 following the publication of his best selling book Accounting for Growth. He joined Collins Stewart shortly after, and became a director in 1996. In 2000 he became Chief Executive and led the management buy-out of Collins Stewart, which was floated on the London Stock Exchange five months later. In 2003 Collins Stewart acquired Tullett Liberty and followed this in 2004 with the acquisition of Prebon Group, creating the world's second largest inter-dealer broker. Collins Stewart and Tullett Prebon were demerged in 2006 with Terry remaining CEO of Tullett Prebon until September 2014. In 2010 he founded Fundsmith where he is CEO and CIO. In 2012 he was appointed a Member of the New Zealand Order of Merit for services to New Zealand-UK relations following the success of his campaign to commemorate the New Zealander, Air Marshal Sir Keith Park."
Investment HouseFundsmith
Fund ProviderFundsmith LLP
ManagerTerry Smith   Biography

Fund Objective The funds objective is to achieve long term growth in value, investing in shares of companies on a global basis. The funds approach is to be a long term investor in its chosen stocks and it will not adopt short-term trading strategies. The fund aims to invest in businesses, that can sustain a high return on operating capital employed, whose advantages are difficult to replicate, which do not require significant borrowing to generate returns, with a high degree of certainty of growth from reinvestment of their cash flows at high rates of return, that are resilient to change, particularly technological innovation, whose valuation is considered to be attractive. The fund will not invest in derivatives nor hedge any currency exposure. Nor will the fund borrow money, except in unusual circumstances. The fund does not follow a particular benchmark. An investor, or prospective investor, may buy or sell their shares on demand each business day in the UK. Instructions to buy or sell received before noon will be implemented that day; instructions received after noon or on a non-business day will be implemented on the next business day. The price of any trades will be set by reference to the net asset value (NAV) of the fund calculated as at noon. For the Accumulation Shares, the dividends are reinvested in the fund. For the Income Shares, the dividends are paid out to you from the fund. This fund invests for the long term and may not be appropriate for investors who plan to withdraw their money within 5 years.

Key Statistics

Fund Status
Fund TypeOEIC
ISINGB00B4LPDJ14
12-Month NAV High £2.89
12-Month NAV Low £1.98
Fund Comparative IndexMSCI World NR GBP
Morningstar CategoryTMGlobal Large-Cap Blend Equity
Dividend FrequencyTwice Yearly
Historic Yield0.57%

Annual Charges

Morningstar ratings

 as of  31/08/2016
Overall5 star
3 Years5 star
5 Years5 star
10 YearsN/A

Growth of £1000 Help

 as of  27/09/2016

Past Performance (%) Help

as of 

This Fund

     
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Fund versus Morningstar Category

     
18.766.32-1.0111.3023.14
Important Information

The value of the fund and the income from it can go down as well as up so you may get back less than you invested. If your fund invests in overseas markets, changes in currency exchange rates may affect the value of your investment. If your fund invests in small and emerging markets, these can be more volatile than other more developed markets. Past performance is not a guide to future returns.
For funds that invest in bonds, please be aware that the price of bonds is influenced by movements in interest rates, changes in the credit rating of bond issuers, and other factors such as inflation and market dynamics. In general, as interest rates rise the price of a bond will fall. The risk of default is based on the issuer's ability to make interest payments and to repay the loan at maturity. Default risk may therefore vary between different government issuers as well as between different corporate issuers.

 Some of the performance and risk data presented may start before the share class was launched. If so, the data prior to the launch date of the share class is based on the fund or share class that has similar or higher charges, in order to provide an indication of longer term performance and risk. Please refer to the launch date and performance start date in the fund factsheet to determine whether the data has been extended.Past Performance and Risk & Volatility figures are presented in British Pounds Sterling (GBP). Fund returns are calculated on a Nav to Nav or Bid to Bid basis with income reinvested either after tax (for UK-domiciled funds) or gross of tax (for offshore funds). Performance figures include the effect of the OCF/TER. To cover distribution costs a separate service fee is now also charged on most funds, which is not included in the past performance figures. Consequently the past performance of the fund may be less than that shown on the chart due to the effect of the service fee.

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