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  #241  
Old 28.11.2020, 00:30
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Re: Another fundsmith question

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I have just had a look at the differences between the 2 funds, 26 stocks Sustainable v 30 stocks Fundsmith,


Fundsmith Only
Facebook
Philip Morris
Nike
Inter Continental
Diageo
Brown-Forman
New holding

Sustainable only
Colgate Palmolive
Mariot Hotels

Edit, since adding Brown Forman I seem to have an extra stock!
Why add Marriott instead of intercontinental to the sustainable? Seems strange
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  #242  
Old 28.11.2020, 09:19
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Re: Another fundsmith question

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Why add Marriott instead of intercontinental to the sustainable? Seems strange
At the time I suspect it was a better deal. Interesting as the Market cap of Marriott is much higher.

Smithson is 4 times the size of the Sustainable fund!
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  #243  
Old 09.12.2020, 20:38
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Re: Another fundsmith question

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brilliant analogy!
The ketchup analogy is brilliant. Funny, I heard Simon Barnard use the same analogy in a presentation from September
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  #244  
Old 09.12.2020, 20:43
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Re: Another fundsmith question

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The ketchup analogy is brilliant. Funny, I heard Simon Barnard use the same analogy in a presentation from September
It comes from Terry Smith, been mentioned several times in the Fundsmith AGM, along with it's important to finish if you want to win. (Tour de France & a long time before Woodford)
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  #245  
Old 16.12.2020, 22:13
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Re: Another fundsmith question

For those that have a direct account with Fundsmith UK but no UK bank account, how do you manage withdrawals? I have no intention on withdrawing funds any time soon but currently my neon account is on record and incoming foreign currency payments are subject to approximately 1.5% conversion fees. Needless to say I would like to avoid losing 15k for each 1m I withdraw down the road.
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  #246  
Old 16.12.2020, 23:05
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Re: Another fundsmith question

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For those that have a direct account with Fundsmith UK but no UK bank account, how do you manage withdrawals? I have no intention on withdrawing funds any time soon but currently my neon account is on record and incoming foreign currency payments are subject to approximately 1.5% conversion fees. Needless to say I would like to avoid losing 15k for each 1m I withdraw down the road.
Have you tried setting one up with hsbc expat? Free if you earn over the Englishforum minimum wage.
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  #247  
Old 17.12.2020, 20:34
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Re: Another fundsmith question

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Have you tried setting one up with hsbc expat? Free if you earn over the Englishforum minimum wage.
I suspect an offshore account may be the answer but I have no need whatsoever right now. I'm just trying to pre-empt a potentially hefty fee in the future. I guess a Swiss GBP account could also be an option but I read somewhere that someone had there incoming payment go from GBP > EUR > CHF > EUR > GBP - what a nightmare!

I also discovered that you can now buy Fundsmith on IB for a flat fee of 4.95. That could solve a potential headache but part of me likes cutting out the middle man. I don't know if it's possible to purchase the I class shares though. If so that could twist my arm.
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  #248  
Old 29.12.2020, 21:29
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Re: Another fundsmith question

Hi EFs,

I am a Swiss resident, EU citizen but still filing a UK tax return due to a property income and I planning to use some GBP to invest in FS UK instead of FS Lux as usual.
Do you know if I have to declare the holding in FS GB in the UK tax return and
if there is are also UK GCT liability or better to stay away and keep only FS Lux?

Cheers,
A
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  #249  
Old 29.12.2020, 22:34
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Re: Another fundsmith question

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Hi EFs,

I am a Swiss resident, EU citizen but still filing a UK tax return due to a property income and I planning to use some GBP to invest in FS UK instead of FS Lux as usual.
Do you know if I have to declare the holding in FS GB in the UK tax return and
if there is are also UK GCT liability or better to stay away and keep only FS Lux?

Cheers,
A
You need to declare any UK dividends however the UK has a tax free dividend allowance that will more than likely cover your dividends.

CGT is identical, if you return to the Uk within 5 tax years you could have a CGT liability on world wide gains since you left.
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  #250  
Old 29.12.2020, 23:00
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Re: Another fundsmith question

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You need to declare any UK dividends however the UK has a tax free dividend allowance that will more than likely cover your dividends.

CGT is identical, if you return to the Uk within 5 tax years you could have a CGT liability on world wide gains since you left.
Thanks.
I am not planning to go back to the UK at all and left about 10 years ago.

Do you mean in the UK tax return do I still need to declare dividends or the profit from sale of the fund may I decided to do so?

From UK tax perspective, does it make sense to go for an accumulated fund so don't need to declare any dividend?
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  #251  
Old 04.01.2021, 19:15
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Re: Another fundsmith question

I can confirm that it's not possible to purchase Fundsmith I class shares on IB below the 5m minimum. Not a huge surprise although I had seen it mentioned that this was possible on other platforms (but other fees would be incurred eliminating the benefit).

I submitted an order for T class Acc today and I expect it will fill tomorrow after the noon valuation point. I think this is a good option for overseas investors without a UK bank account as it eliminates the hassle surrounding currency conversion for both buying and selling, as well as a simpler buy-in process.

As a practical point, you may need to request permission to trade mutual funds if you didn't select this option when you created your account. You can find it in the account settings.
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  #252  
Old 04.01.2021, 20:33
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Re: Another fundsmith question

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Thanks.
I am not planning to go back to the UK at all and left about 10 years ago.

Do you mean in the UK tax return do I still need to declare dividends or the profit from sale of the fund may I decided to do so?

From UK tax perspective, does it make sense to go for an accumulated fund so don't need to declare any dividend?
Capital gains are potentially taxable if you return within I thought 5 tax years but might be as much as 7 tax years.
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  #253  
Old 04.01.2021, 22:54
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Re: Another fundsmith question

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I can confirm that it's not possible to purchase Fundsmith I class shares on IB below the 5m minimum. Not a huge surprise although I had seen it mentioned that this was possible on other platforms (but other fees would be incurred eliminating the benefit).

I submitted an order for T class Acc today and I expect it will fill tomorrow after the noon valuation point. I think this is a good option for overseas investors without a UK bank account as it eliminates the hassle surrounding currency conversion for both buying and selling, as well as a simpler buy-in process.

As a practical point, you may need to request permission to trade mutual funds if you didn't select this option when you created your account. You can find it in the account settings.
Is the cost the same to buy T class via IB or directly through FS?
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  #254  
Old 04.01.2021, 23:21
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Re: Another fundsmith question

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Is the cost the same to buy T class via IB or directly through FS?
There is no cost to buy into the fund with FS directly. On IB my understanding is that there is a flat fee of 4.95 but looking at their fee structure it's not 100% clear if there is also a Euronext fee? Under tiered pricing it states 0.08% of trade value <=1m.

https://www.interactivebrokers.eu/en...39753&p=funds2
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  #255  
Old 04.01.2021, 23:46
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Re: Another fundsmith question

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There is no cost to buy into the fund with FS directly. On IB my understanding is that there is a flat fee of 4.95 but looking at their fee structure it's not 100% clear if there is also a Euronext fee? Under tiered pricing it states 0.08% of trade value <=1m.

https://www.interactivebrokers.eu/en...39753&p=funds2
I guess you could tell us tomorrow. I currently buy directly from FS, but if there is just a low transaction cost, it might save the hassle of converting currency, transferring to my UK bank account and then buying through FS.
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  #256  
Old 04.01.2021, 23:48
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Re: Another fundsmith question

I just saw that FS bought LVMH in Nov/Dec.
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  #257  
Old 05.01.2021, 02:42
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Re: Another fundsmith question

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I just saw that FS bought LVMH in Nov/Dec.
Thought Terry Smith didn't like fashion businesses?
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  #258  
Old 05.01.2021, 09:48
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Re: Another fundsmith question

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Thought Terry Smith didn't like fashion businesses?
Consumer staples as far as their customers are concerned. When you look at the subsidiaries I think he is right Moet & Chandon, Verve Clicquot, Givenchy, Cloudy Bay.

48% family owned, TS likes that.

Last edited by fatmanfilms; 05.01.2021 at 10:00.
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  #259  
Old 05.01.2021, 22:00
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Re: Another fundsmith question

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I guess you could tell us tomorrow. I currently buy directly from FS, but if there is just a low transaction cost, it might save the hassle of converting currency, transferring to my UK bank account and then buying through FS.
Order filled with a 4.95 fee. The trade will settle in 2 days but I don't expect any surprises in the statement. The order was executed on the ALLFUNDS exchange so nothing to do with Euronext.

I also have a direct account with FS but I think I will use the IB option moving forward. It saves a phone call each time and simplifies getting funds both in and out.

For the GBP T class Acc the fund identifier you are looking for is I444363269.
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  #260  
Old 06.01.2021, 15:36
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Re: Another fundsmith question

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Consumer staples as far as their customers are concerned. When you look at the subsidiaries I think he is right Moet & Chandon, Verve Clicquot, Givenchy, Cloudy Bay.

48% family owned, TS likes that.
Coming from Newcastle I had to google those (although had an idea Moet and Chandon was a champagne).
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