Money Makers | Fundsmith Equity Fund

Profile: Fundsmith Equity Fund

21st August 2021

UPDATE: Fundsmith returned +22% in 2021, -14% in 2022, +12% in 2023, +9% in 2024, +1% in 2025, and 0% from January to August 2026, well behind global equity returns and reducing its annualised returns since inception to 13.2% a year versus 12.4% for the MSCI World Index. Smith's half-year update for 2026 contained details of numerous portfolio changes following a shift in its strategy to take more heed of business momentum. He covered this in more detail in his 2026 half-year webinar.

Fundsmith Equity Fund and its forthright manager Terry Smith need little introduction. Launched in November 2...

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