Fund manager Terry Smith tends not to follow the herd. As an analyst at Barclays-owned broker BZW in the 1980s, he famously issued a sell note on his parent firm.
The same maverick spirit prompted him to set up the Fundsmith Equity fund at the end of 2010. His aim was to offer a longer-term investment outlook than the typical fund manager, and low charges. "By and large, he has made good on that promise," says Maike Currie in Investors Chronicle. The fund is up 10.9% over a year against a sector average fall of 6%, putting it at the top of the IMA Global sector. Since launch, it's up 21% against a sector rise of 5%.
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Fundsmith EquityFund top ten holdings
| Unilever |
| L'Oral |
| Dr Pepper Snapple |
| Microsoft |
| Procter & Gamble |
| PepsiCo |
| Automatic Data Processing |
| Stryker |
| Serco |
| Reckitt Benckiser |
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