Terry Smith to Launch Global Smaller Companies Trust

Terry Smith is launching a third fund - Fundsmith Smithson. The closed-end fund will invest in around 30 small and mid-sized global companies

Emma Wall 4 September, 2018 | 10:51AM

Terry Smith is launching a new investment trust Fundsmith Smithson small mid-sized companies closed-end fund

Fundsmith is launching a new closed-end fund next month, investing in global small and mid-sized companies. The investment trust will be called Smithson and will invest in companies too small for Fundsmith Equity to hold, typically between £500 million and £15 billion in market capitalisation. The trust will be run by Simon Barnard and Will Morgan, who joined Fundsmith in 2017 from Goldman Sachs. Terry Smith will oversee the strategy in his role of chief investment officer of the firm.

Smithson is seeking to raise £250 million, with Smith investing £25 million himself, alongside a further £5 million invested by Fundsmith employees.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BMO Global Smaller Companies Ord89.40 GBP-0.33
Edinburgh Worldwide Ord162.28 GBP-3.98
Fundsmith Emerging Equities Trust960.11 GBP1.06
Fundsmith Equity I Acc4.34 GBP2.79
Sainsbury (J) PLC213.40 GBP0.00
Xerox Corp16.90 USD0.00

About Author

Emma Wall  is former Senior International Editor for Morningstar

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