Fundsmith Equity Class I Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/07/20 to 31/07/21 |
31/07/21 to 31/07/22 |
31/07/22 to 31/07/23 |
31/07/23 to 31/07/24 |
31/07/24 to 31/07/25 |
|
|---|---|---|---|---|---|
| Fund | 27.1% | -7.4% | 7.0% | 8.9% | 3.8% |
| Sector | 26.8% | -2.9% | 5.5% | 12.6% | 9.4% |
| Rank | 270/422 | 271/460 | 258/498 | 418/523 | 454/543 |
| Quartile | 3 | 3 | 3 | 4 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/07/25 |
5 Years to 31/07/25 |
10 Years to 31/07/25 |
||
| Fund | 6.6% | 7.3% | 12.9% | |
| Sector | 9.1% | 9.9% | 9.9% | |
| Rank | 388/497 | 329/423 | 27/261 | |
| Quartile | 4 | 4 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| META PLATFORMS | 9.67 |
| MICROSOFT CORPORATION | 7.47 |
| STRYKER CORPORATION | 6.41 |
| NOVO NORDISK A/S | 6.16 |
| VISA | 5.16 |
| AUTOMATIC DATA PROCESSING INC | 4.83 |
| WATERS CORPORATION | 4.81 |
| PHILIP MORRIS INTERNATIONAL | 4.72 |
| L'OREAL | 4.62 |
| ALPHABET INC | 4.45 |
| Total | 58.29 |
Fund Aims
Long term growth in value
Fund Manager
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 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.
Fund Overview
| Mid (12/08/2025) | 696.24p |
| Historic yield | 1.27% |
| Fund size (31/01/2025) | £23587.14m |
| Number of holdings | 26 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.94% |
| Launch date | 01/11/2010 |
Asset Allocation
| International Equities | 92.00% | |
| Cash and Equivalents | 4.27% | |
| UK Equities | 3.29% | |
| Alternative Trading Strategies | 0.45% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 92.00% | |
| Cash and Equivalents | 4.27% | |
| UK Equities | 3.29% | |
| Alternative Trading Strategies | 0.45% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 28.76% | - | - | - | |
| Technology | - | 28.76% | - | - | |
| Software & Computer Services | - | - | 27.56% | - | |
| Consumer Digital Services | - | - | - | 14.12% | |
| Software | - | - | - | 10.19% | |
| Computer Services | - | - | - | 3.25% | |
| Technology Hardware & Equipment | - | - | 1.20% | - | |
| Semiconductors | - | - | - | 1.20% | |
| Health Care | 23.36% | - | - | - | |
| Health Care | - | 23.36% | - | - | |
| Medical Equipment & Services | - | - | 17.20% | - | |
| Medical Equipment | - | - | - | 14.88% | |
| Medical Supplies | - | - | - | 2.32% | |
| Pharmaceuticals & Biotechnology | - | - | 6.16% | - | |
| Pharmaceuticals | - | - | - | 6.16% | |
| Industrials | 15.24% | - | - | - | |
| Industrial Goods & Services | - | 15.24% | - | - | |
| Industrial Support Services | - | - | 9.99% | - | |
| Transaction Processing Services | - | - | - | 5.16% | |
| Professional Business Support Services | - | - | - | 4.83% | |
| Industrial Engineering | - | - | 2.72% | - | |
| Machinery: Industrial | - | - | - | 1.84% | |
| Machinery: Construction & Handling | - | - | - | 0.88% | |
| Electronic & Electrical Equipment | - | - | 2.52% | - | |
| Electronic Equipment: Gauges & Meters | - | - | - | 2.52% | |
| Consumer Discretionary | 14.22% | - | - | - | |
| Consumer Products & Services | - | 10.24% | - | - | |
| Personal Goods | - | - | 10.24% | - | |
| Cosmetics | - | - | - | 4.62% | |
| Clothing & Accessories | - | - | - | 4.02% | |
| Footwear | - | - | - | 1.60% | |
| Travel & Leisure | - | 3.98% | - | - | |
| Travel & Leisure | - | - | 3.98% | - | |
| Hotels & Motels | - | - | - | 3.98% | |
| Consumer Staples | 13.70% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 7.90% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 7.90% | - | |
| Personal Products | - | - | - | 5.66% | |
| Nondurable Household Products | - | - | - | 2.23% | |
| Food, Beverage & Tobacco | - | 5.81% | - | - | |
| Tobacco | - | - | 4.72% | - | |
| Tobacco | - | - | - | 4.72% | |
| Beverages | - | - | 1.09% | - | |
| Distillers & Vintners | - | - | - | 1.09% | |
| Cash and Equivalents | 4.27% | - | - | - | |
| Alternative Trading Strategies | 0.45% | - | - | - | |
| Alternative Trading Strategies | - | 0.45% | - | - | |
| Alternative Trading Strategies | - | - | 0.45% | - | |
| Alternative Trading Strategies | - | - | - | 0.45% | |
Regional Allocation
| North America | 70.74% | |
| Developed Europe - Excl UK | 21.25% | |
| Cash and Equivalents | 4.27% | |
| UK | 3.29% | |
| Non-Classified | 0.45% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 70.74% | - | |
United States
|
- | 70.74% | |
| Developed Europe - Excl UK | 21.25% | - | |
France
|
- | 8.64% | |
Denmark
|
- | 8.48% | |
Spain
|
- | 3.25% | |
Sweden
|
- | 0.88% | |
| Cash and Equivalents | 4.27% | - | |
| UK | 3.29% | - | |
United Kingdom
|
- | 3.29% | |
| Non-Classified | 0.45% | - | |
Breakdown By Market Cap (%)
| Mega |
|
67.22% |
| Large |
|
18.30% |
| Medium |
|
2.72% |
| Non-Classified |
|
7.48% |
| Cash |
|
4.27% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | META PLATFORMS | 9.67% | Software & Computer Services | United States |
| 2 | MICROSOFT CORPORATION | 7.47% | Software & Computer Services | United States |
| 3 | STRYKER CORPORATION | 6.41% | Medical Equipment & Services | United States |
| 4 | NOVO NORDISK A/S | 6.16% | Pharmaceuticals & Biotechnology | Denmark |
| 5 | VISA | 5.16% | Industrial Support Services | United States |
| 6 | AUTOMATIC DATA PROCESSING INC | 4.83% | Industrial Support Services | United States |
| 7 | WATERS CORPORATION | 4.81% | Medical Equipment & Services | United States |
| 8 | PHILIP MORRIS INTERNATIONAL | 4.72% | Tobacco | United States |
| 9 | L'OREAL | 4.62% | Personal Goods | France |
| 10 | ALPHABET INC | 4.45% | Software & Computer Services | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 28.76% | - | - | - | - | - | - | 28.76% |
| Consumer Discretionary | - | 14.22% | - | - | - | - | - | - | 14.22% |
| Consumer Staples | 3.29% | 10.42% | - | - | - | - | - | - | 13.70% |
| Health Care | - | 23.36% | - | - | - | - | - | - | 23.36% |
| Industrials | - | 15.24% | - | - | - | - | - | - | 15.24% |
| Cash and Equivalents | - | - | - | - | - | - | - | 4.27% | 4.27% |
| Non-Classified | - | - | - | - | - | - | 0.45% | - | 0.45% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B41YBW7 |
| Mex Code | - |
| Isin Code | GB00B41YBW71 |
| Citi Code | LSX6 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.94% |
Aims and Benchmark
| Aims | Long term growth in value |
| Benchmark | MSCI World |
| Benchmark Category | - |
| IA Sector | Global |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 28 February |
| 01 July | 31 August |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | State Street Trustees Limited |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | State Street Trustees Limited |
Group Details
| Group name | Fundsmith LLP |
| Group address | 52-54 Gracechurch Street, London, EC3V 0EH |
| Group telephone | 0330 123 1815 |
| Dealing telephone | - |
| - | |
| Homepage | www.fundsmith.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | £5000000 |
| Minimum Top Up | £5000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 4 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -1.61 |
| Beta | 0.91 |
| Sharpe | 0.28 |
| Standard Deviation | 10.73 |
| Info Ratio | -0.40 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
'Prudential' is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.