Star Fund Manager Breaks Record with Trust Launch

NEWS YOU CAN USE: This month saw Terry Smith launch a record-breaking investment trust, while a flurry of new sustainable funds came to market

Emma Simon 26 October, 2018 | 8:41AM

Investment trusts might be one of the oldest investment vehicles, but they are proving to be as popular as ever. This month, Terry Smith, of Fundsmith fame, launched his Smithson (SSON) trust. Clearly the cult of the star fund manager has not faded, with the trust raising a record-breaking £822.5 million when it listed on the stock market.

Record-Breaking Launch for Star Fund Manager

Smithson was the biggest investment trust launch ever, beating the £800 million raised by Neil Woodford when he launched the Patient Capital Investment trust three years ago.

Smithson will be a global trust focusing on small and mid-cap companies. It will follow a similar investment strategy to the highly successful Gold Rated Fundsmith Equity which is an open-ended fund with a large-cap bias.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Alliance Trust Ord570.13 GBP-5.76
AXA Framlington FinTech R Inc526.80 GBP0.08
Fidelity MoneyBuilder Income35.78 GBP0.34
Fundsmith Equity I Acc4.41 GBP2.48
JPM Europe Rsrch Enh Eq ESG ETF EUR Acc21.68 EUR-4.48
JPM Global Rsrch Enh Eq ESG ETF USD Acc21.31 USD-3.76
JPM US Research Enh Eq ESG ETF USD Acc22.12 USD-3.58
Smithson Investment Trust Ord1,076.29 GBP-1.62

About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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