Fund Factsheet
Price data, 01 March 2021
Share Class | OCF | Minimum | Price |
---|---|---|---|
T Class Acc | 1.11% | EUR 2000 | € 47.76 |
T Class Inc | 1.11% | EUR 2000 | € 45.04 |
R Class Acc | 1.61% | EUR 2000 | € 45.74 |
R Class Inc | 1.61% | EUR 2000 | € 44.87 |
I Class Acc | 0.97% | EUR 5M | € 48.30 |
I Class Inc | 0.97% | EUR 5M | € 45.17 |
I Class Acc | 0.97% | CHF 6M | CHF 37.67 |
I Class Inc | 0.97% | CHF 6M | CHF 35.16 |
I Class Acc | 0.97% | USD 6M | $ 32.38 |
I Class Inc | 0.97% | USD 6M | $ 30.56 |
I Class Acc | 0.97% | GBP 5M | £ 32.71 |
I Class Inc | 0.97% | GBP 5M | £ 31.20 |
Standing Data
As at 26th Feb 2021 | |
---|---|
Portfolio Manager | Terry Smith |
Launch Dates | Euro: 2.11.11 CHF: 5.4.12 |
Launch Dates | USD: 13.3.13 GBP: 15.4.14 |
Administrator | State Street Luxembourg S.A. |
Auditor | Deloitte S.A. |
Dealing | Daily at 13:00 C.E.T |
Dividend Dates | On or about 28/2 & 31/8 |
Key Facts
As at 26 Feb 2021 | |
---|---|
Fund Size | €5.7bn |
Gross / Net Yield< | 1.44% / 0.33% |
2020 PTR^ | -29% |
7 Day Fund Liquidity> | 98% |
No. Holdings | 29 |
Average Co. Founded | 1924 |
Average Market Cap | €170.0bn |
Active Share as at 31.03.20” | 90% |
Geographic Split
As at 26 Feb 2021, by Country of listing | % |
---|---|
US | 68.5 |
UK | 8.5 |
France | 7.9 |
Denmark | 5.7 |
Finland | 3.5 |
Spain | 2.4 |
Cash | 3.4 |
Sector Split
As at 26 Feb 2021, GICS® Categories | % |
---|---|
Consumer Staples | 28.0 |
Technology | 25.7 |
Healthcare | 23.1 |
Consumer Discretionary | 12.7 |
Communication Services | 3.5 |
Industrials | 3.5 |
Cash | 3.4 |
Security Identification Codes
Share Class | SEDOL | ISIN | MEXID |
---|---|---|---|
T ACC € | B4K9WN1 | LU0690375182 | 4FFEED |
T INC € | B6WVNC5 | LU0690375422 | 4FEEDR |
R ACC € | B58W369 | LU0690374615 | 4FEDER |
R INC € | B6SVBD6 | LU0690374961 | 4FEDERE |
I ACC € | B6TWPG9 | LU0690374029 | 4FEQUI |
I INC € | B4W03Z1 | LU0690374532 | 4FQUIT |
CHF I ACC | B96SVB8 | LU0765121677 | 4FUNDS |
CHF I INC | B96SVH4 | LU0765126635 | 4FUNDM |
USD I ACC | B9QN5S8 | LU0893933373 | 4FUNDI |
USD I INC | B96SVJ6 | LU0893933456 | 4FUNDT |
GBP I ACC | BMH4M80 | LU1053186349 | 4FAAAE |
GBP I INC | BMH4MD5 | LU1053186000 | 4FAAAD |
Investment objective of the SICAV
The investment objective of the SICAV is to achieve long term growth in value. The SICAV will invest in equities on a global basis. The SICAV’s approach is to be a long-term investor in its chosen stocks. It will not adopt short-term trading strategies. The SICAV has stringent investment criteria which the Investment Manager adheres to in selecting securities for the SICAV’s investment portfolio. These criteria aim to ensure that the SICAV invests in:
- High quality businesses that can sustain a high return on operating capital employed;
- Businesses whose advantages are difficult to replicate;
- Businesses which do not require significant leverage to generate returns;
- Businesses with a high degree of certainty of growth from reinvestment of their cash flows at high rates of return;
- Businesses that are resilient to change, particularly technological innovation;
- Businesses whose valuation is considered to be attractive.
It is envisaged that the investment portfolio of the SICAV will be concentrated, generally comprising between 20 and 30 stocks.
Performance, % Total Return
Feb 2021 | 2021 to 26.02.21 |
2020 | 2019 | 2018 | 2017 | 2016 | Inception to 26.02.21 |
Annualised to 26.02.21 |
|
---|---|---|---|---|---|---|---|---|---|
Fundsmith1 | +2.6 | +1.9 | +10.7 | +32.5 | +0.9 | +17.7 | +9.4 | +376.4 | +18.2 |
Equities2 | +2.7 | +2.4 | +6.3 | +30.0 | -4.1 | +7.5 | +10.7 | +215.0 | +13.1 |
EU Bonds3 | -3.9 | -5.2 | +11.2 | +15.4 | +2.4 | -0.3 | +6.6 | +114.4 | +8.5 |
Cash4 | -0.0 | -0.1 | -0.4 | -0.4 | -0.4 | +0.4 | -0.3 | -0.9 | -0.1 |
The Fund is not managed with reference to any benchmark. Above are a number of comparisons of the Fund's performance. (1) T class € accumulation shares, net of fees priced at midday UK time, source: Bloomberg (2) MSCI World Index (€ Net) priced at close of business US time, source: www.msci.com. The MSCI World Index is a developed world index of global equities across all sectors and, as such, is a fair comparison given the Company's investment objective and policy. (3) Bloomberg/Barclays Bond Indices Euro Govt 10 yr, source: Bloomberg (4) € Interest Rate, source: Bloomberg. Past performance is not necessarily a guide to future performance. The value of investments and the income from them may fall as well as rise and be affected by changes in exchange rates, and you may not get back the amount of your original investment.
Portfolio comment for February 2021
We sold our stake in testing services company Intertek and purchased a stake in Church & Dwight, the US consumer products business. The top 5 contributors in the month were Estée Lauder, Paypal, IDEXX, Amadeus and Stryker. The top 5 detractors were McCormick, Pepsico, Unilever, Microsoft and Facebook.
Top 10 holdings
- Paypal
- Microsoft
- L'Oréal
- IDEXX
- Estée Lauder
- Stryker
- Intuit
- Nike
- Philip Morris
Our values
- No Fees for Performance
- No Up Front Fees
- No Nonsense
- No Debt or Derivatives
- No Shorting
- No Market Timing
- No Index Hugging
- No Trading
- No Hedging
Fundsmith knows
Just a small number of high quality, resilient, global growth companies that are good value and which we intend to hold for a long time, and in which we invest our own money.
" Active Share measures how much the portfolio holdings differ from the benchmark index (MSCI World) i.e. a portfolio that is identical to the benchmark would have 0% active share.
* The OCF (Ongoing Charges Figure) is the total expenses paid by the fund (excluding bank overdraft interest), annualised, against its average net asset value. The OCF will fluctuate as the average net assets and costs change. The OCF is updated following the publication of accounts for the periods ending 30th June and 31st December.
# The PTR (Portfolio Turnover Ratio) has been calculated in accordance with the methodology laid down by the CSSF. This compares the total share purchases and sales less total creations and liquidations with the average net asset value of the fund.
> 7 Day Fund Liquidity is calculated based upon 30% of trailing 20 day average volume.
< Gross Yield reflects the historic dividend income received by the fund in the preceding 12 months before the deduction of all expenses including management fees. Net yield is Gross Yield less the deduction of all expenses including management fees i.e. Gross Yield less the OCF. In both cases we use T Class Shares as reference. Please note that rates would vary for I Class and R Class shares. Additional fund expenses will further reduce the yield received.
Monthly performance table, % Total Return, T Class, Accumulation Shares
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2011 | +2.5 | +6.6 | 9.3 | ||||||||||
2012 | +1.2 | +2.2 | +2.4 | +2.1 | +1.2 | +1.0 | +6.5 | -1.6 | -0.2 | -1.6 | +2.4 | -2.1 | 14.2 |
2013 | +3.8 | +3.8 | +5.7 | +1.2 | +2.3 | -2.3 | +0.7 | -2.1 | +1.9 | +2.7 | +2.4 | +0.2 | 22.2 |
2014 | -2.3 | +3.2 | +0.9 | +0.7 | +5.1 | +0.4 | +1.8 | +2.6 | +3.7 | +3.7 | +5.5 | +2.7 | 31.6 |
2015 | +7.8 | +4.0 | +1.2 | -0.9 | +3.7 | -5.4 | +6.7 | -7.3 | -1.2 | +10.9 | +4.2 | -1.8 | 22.3 |
2016 | -4.6 | +2.6 | +1.5 | +0.1 | +4.1 | -0.1 | +3.8 | +0.6 | -0.8 | -1.9 | +1.8 | +2.4 | 9.4 |
2017 | +0.1 | +6.6 | +1.5 | +2.0 | +1.8 | -1.7 | -0.7 | -0.9 | +1.1 | +6.0 | +0.2 | +0.7 | 17.7 |
2018 | +2.8 | -2.4 | -3.8 | +3.0 | +6.7 | +1.0 | +1.9 | +2.4 | +1.0 | -6.0 | +2.9 | -7.5 | 0.9 |
2019 | +6.9 | +6.4 | +5.7 | +2.0 | -1.4 | +2.5 | +2.9 | +0.5 | -1.0 | +0.8 | +3.0 | +0.6 | 32.5 |
2020 | +3.5 | -7.8 | -7.2 | +10.1 | +3.1 | -1.1 | +2.0 | +4.9 | -1.0 | -1.0 | +5.0 | +1.3 | 10.7 |
2021 | -0.7 | +2.6 | +1.9 |
Dividend Payments
Payable on 28th February and 31st August
Name | Direct | Advised | Institutional | Institutional | Institutional | Institutional | ||
---|---|---|---|---|---|---|---|---|
Share class | T Class | R Class | I Class | CHF I Class | USD I Class | GBP I Class | ||
Final |
1st Jul 2020 to 31st Dec 2020
|
Income | 0.0104 | 0.0000 | 0.0395 | 0.0350 | 0.0231 | 0.0304 |
Interim | 1st Jan 2020 to 30th June 2020 | Income | 0.0596 | 0.0000 | 0.0888 | 0.0689 | 0.0512 | 0.0660 |
Final | 1st Jul 2019 to 31st Dec 2019 | Income | 0.0288 | 0.0000 | 0.0563 | 0.0443 | 0.0437 | 0.0394 |
Interim | 1st Jan 2019 to 30th June 2019 | Income | 0.0225 | 0.0000 | 0.0473 | 0.0354 | 0.0295 | 0.0342 |
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