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  #181  
Old 13.11.2020, 19:59
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Re: Another fundsmith question

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I assumed my wife would get one in the UK & I would not as I only have an old ISA in the UK, perhaps they also sent to Luxembourg clients.
I only have about £40k direct with them. I imagine thats a lot lot less than you lol.
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  #182  
Old 13.11.2020, 20:00
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Re: Another fundsmith question

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I only have about £40k direct with them. I imagine thats a lot lot less than you lol.
My direct UK investment started at 43K in May 13 so over 150k today.
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  #183  
Old 13.11.2020, 21:21
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Re: Another fundsmith question

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As I direct investor with Fundsmith I just received a free copy of Terry's new book.
I didn't receive one. Now I'm pissed.
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  #184  
Old 14.11.2020, 11:08
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Re: Another fundsmith question

A bit of a shout out to FMF.

Last year, he recommended a distribution between Smithson (SSON), Fundsmith Equity, and Lindsell Train Global Equity for an old pension (AVC) that had been languishing for a decade in some poor performing ReAssure funds.

I followed his suggestions and transferred it into a HL account.

SSON is up 29% in the 17 months, FS Equity is up 21.43%, and Lindsell train 3.15%.

Thank you FMF.
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  #185  
Old 14.11.2020, 11:12
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Re: Another fundsmith question

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A bit of a shout out to FMF.

Last year, he recommended a distribution between Smithson (SSON), Fundsmith Equity, and Lindsell Train Global Equity for an old pension (AVC) that had been languishing for a decade in some poor performing ReAssure funds.

I followed his suggestions and transferred it into a HL account.

SSON is up 29% in the 17 months, FS Equity is up 21.43%, and Lindsell train 3.15%.

Thank you FMF.
I believe I expected the performance to be in that order as well!
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  #186  
Old 14.11.2020, 11:13
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Re: Another fundsmith question

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A bit of a shout out to FMF.

Last year, he recommended a distribution between Smithson (SSON), Fundsmith Equity, and Lindsell Train Global Equity for an old pension (AVC) that had been languishing for a decade in some poor performing ReAssure funds.

I followed his suggestions and transferred it into a HL account.

SSON is up 29% in the 17 months, FS Equity is up 21.43%, and Lindsell train 3.15%.

Thank you FMF.
It all sounds like an exotic language to me but really glad that an EF member helped you out. Gotta book an appointment with FMF asap before he runs out of time slots (or to a skiing adventure ).
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  #187  
Old 14.11.2020, 11:58
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Re: Another fundsmith question

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I believe I expected the performance to be in that order as well!
Yep! Lindsell Train. What a disappointment :-). Stick with it for long term?
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  #188  
Old 14.11.2020, 12:30
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Re: Another fundsmith question

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Yep! Lindsell Train. What a disappointment :-). Stick with it for long term?
Historically LT performance is more erratic but huge when it comes. The problem if you want diversification is you have to invest in things you are 'less keen' about. I dumped my holding last week & reinvested in Smithson. My wife still retains some, however she is subject to UK CGT. the holding is up 28%.
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  #189  
Old 14.11.2020, 12:56
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Re: Another fundsmith question

Can you remove the money anytime you want from FS?
For example if I place 100k and then it grows to 140k, I decide to withdraw while ahead?
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  #190  
Old 14.11.2020, 13:04
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Re: Another fundsmith question

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Can you remove the money anytime you want from FS?
For example if I place 100k and then it grows to 140k, I decide to withdraw while ahead?
The fund is traded daily, which in reality means you will get your money into your account within 1 week assuming you have supplied them with any 'Know Your Client' anti money laundering requests. Above 10k they will likely have asked about source of funds, Tax identification no etc.
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  #191  
Old 14.11.2020, 13:53
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Re: Another fundsmith question

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Can you remove the money anytime you want from FS?
For example if I place 100k and then it grows to 140k, I decide to withdraw while ahead?
yes
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  #192  
Old 14.11.2020, 15:08
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Re: Another fundsmith question

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Yep! Lindsell Train. What a disappointment :-). Stick with it for long term?
I'd personally put the LT money in Scottish Mortgage and Edinburgh Worldwide.

I find the conceptual combination of those two with fundsmith and smithson very satisfying.

Fundsmith and Smithson are focussed on industries that aren't exposed to disruption whilst SM and EWI are focussed on the disrupters in industries where this is possible.

I had a bit in LT but sold out completely and haven't regretted it.

Last edited by HickvonFrick; 14.11.2020 at 15:31.
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  #193  
Old 15.11.2020, 11:10
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Re: Another fundsmith question

Another example, you invest 100k in FS, after a few years you see that it has gone down to 80k then 70k. Would you pull the 70k out and cut your losses or stay firm and hope that in the future it recovers?


P.S- Is there a catch? Why doesn't everyone invest in FS if it is so rock solid?
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  #194  
Old 15.11.2020, 11:21
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Re: Another fundsmith question

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I'd personally put the LT money in Scottish Mortgage and Edinburgh Worldwide.

I find the conceptual combination of those two with fundsmith and smithson very satisfying.

Fundsmith and Smithson are focussed on industries that aren't exposed to disruption whilst SM and EWI are focussed on the disrupters in industries where this is possible.

I had a bit in LT but sold out completely and haven't regretted it.
SMT has only had out performance for about 18 months, just as LT had a short period of outperformance about 3 years ago. I don't believe that SMT & Edinburgh have been other than very lucky. Neither have had exceptional performance if you ignore the very recent past.
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Another example, you invest 100k in FS, after a few years you see that it has gone down to 80k then 70k. Would you pull the 70k out and cut your losses or stay firm and hope that in the future it recovers?


P.S- Is there a catch? Why doesn't everyone invest in FS if it is so rock solid?
FS & Smithson are 'very defensive', one would expect them to over perform in bad conditions & be reasonably OK in good times when people will buy anything. From a start up to over £25 billion invested in 10 years in FS UK/Luxembourg shows a lot of people have invested, despite analysts views going back 8 years that the stocks they buy are too expensive & they will underperform.
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  #195  
Old 15.11.2020, 14:20
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Re: Another fundsmith question

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Another example, you invest 100k in FS, after a few years you see that it has gone down to 80k then 70k. Would you pull the 70k out and cut your losses or stay firm and hope that in the future it recovers?


P.S- Is there a catch? Why doesn't everyone invest in FS if it is so rock solid?
Some people prefer trackers as they are lower cost, and they don't believe fundsmith can carry on outperforming. Personally I think it will continue to outperform, but less so than Smithson.

Nothing is completely rock solid but if you were invested in companies FS owned in the 2008 recession it took about a year for the stocks to recover from the crash vs. about 5 years for the wider market.

If you are a fairly risk averse beginner investor it's a great place to start (and potentially stay).

Last edited by HickvonFrick; 15.11.2020 at 14:32.
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  #196  
Old 15.11.2020, 14:37
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Re: Another fundsmith question

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SMT has only had out performance for about 18 months, just as LT had a short period of outperformance about 3 years ago. I don't believe that SMT & Edinburgh have been other than very lucky. Neither have had exceptional performance if you ignore the very recent past.


FS & Smithson are 'very defensive', one would expect them to over perform in bad conditions & be reasonably OK in good times when people will buy anything. From a start up to over £25 billion invested in 10 years in FS UK/Luxembourg shows a lot of people have invested, despite analysts views going back 8 years that the stocks they buy are too expensive & they will underperform.
I think SMT has had similar performance to FS from the inception of FS until February 2020 - correct?

It's a bit unfair to call something in that league unexceptional - even if high risk. Do you think it will underperform LT going forward?
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  #197  
Old 15.11.2020, 15:31
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Re: Another fundsmith question

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I'd personally put the LT money in Scottish Mortgage and Edinburgh Worldwide.

I find the conceptual combination of those two with fundsmith and smithson very satisfying.

Fundsmith and Smithson are focussed on industries that aren't exposed to disruption whilst SM and EWI are focussed on the disrupters in industries where this is possible.

I had a bit in LT but sold out completely and haven't regretted it.
You just described my current portfolio (except the crypto, but that is lottery money)
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  #198  
Old 15.11.2020, 16:40
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Re: Another fundsmith question

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I think SMT has had similar performance to FS from the inception of FS until February 2020 - correct?

It's a bit unfair to call something in that league unexceptional - even if high risk. Do you think it will underperform LT going forward?
Yes, but at higher risk, there risk adjusted return puts FS ahead, With the huge over performance of SMT due ho huge holdings in Tesla are unlikely to be repeated going forward. A few days ago Tesla was off 39% from peak although has recovered a bit since.

Impossible to say, although over 10 years both will be resectable investments.
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  #199  
Old 16.11.2020, 08:54
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Re: Another fundsmith question

- I am a British citizen but I don't have an ISA, is that a major problem? "No ISA" option ok for Swiss C Permit holder? I don't have any UK bank account anymore, only Swiss bank accounts.

- "Tax Identification Number" for Switzerland would be? AHV number?

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If you are a fairly risk averse beginner investor it's a great place to start (and potentially stay).
- How much would you start with? 10k? 20k? 50k? Would you wait for post Corona or go in already?


- Terry Smith is 67, if he dies?
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  #200  
Old 16.11.2020, 09:35
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Re: Another fundsmith question

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- I am a British citizen but I don't have an ISA, is that a major problem? "No ISA" option ok for Swiss C Permit holder? I don't have any UK bank account anymore, only Swiss bank accounts.

- "Tax Identification Number" for Switzerland would be? AHV number?

- How much would you start with? 10k? 20k? 50k? Would you wait for post Corona or go in already?


- Terry Smith is 67, if he dies?
Invest in the Luxembourg fund in Euros, probably worth having a Euro account at your Bank in CH so you can doe your own currency exchanges & get a better rate.
TIN is the AHV no
I would invest quite a lot, what are you waiting for, the average co was founded in 1926, Corona has only had a bad effect on 2 companies although their share prices have recovered to 90% of previous peek. The Fund is roughly at an all time high, pretty much as it has been the case since inception turning £1 into £5.39 in 10 years & 2 weeks.
When TS dies FS Equity fund would immediately be run by Julian Robins, head of research who has worked with Terry for over 35 years, he is a partner in the management co. There is also a new Partner Danial Washburn who joined 10 years ago. It's actually an important question for Terry Smith as he has about £500,000,000 in the fund. The management company can NOT be sold, it has to be bought out by existing partners over many years, the proceeds going to TS's estate. In short very little will change.
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