Glad to learn that. I am investment proxy for my daughter’s US Roth IRA & her SIPP (She was US-UK-CH but renounced US a couple of years ago). I invest her ISA & SIPP in FS & index funds and IRA mostly in Fidelity Focused (and some Fid Contrafund) which have done well but maybe not compared to FS. Have to check. Thanks.

PS: Fidelity show FMEQF Fundsmith Emerging Market Equities. I wonder how that compares with FS T fund.

It really has not performed to date as in excess of 100% of net investments in Emerging Markets go into index funds. FEET trades at a 15% discount, it's possible with all the fallout the companies it holds will finally shine.

I am pleased to say Fundsmith ended April at the same price it ended December 19 in GBP, so most investors won't have lost much sleep YTD.

The market timers sold £342 million in March but reinvested £408 Million in April

Clorex was sold & small positions were taken in Starbucks & Nike, this has been accidentally published by Refinitiv as FS don't comment until they have built up their position.

Well... it's not like I can time the market when I have to fax them my buy orders.

And I still haven't a clue exactly how to sell it!

That's for your own sake

Send them a fax, if they have your Bank details, you will receive the money about 4 business days later.

FMF (or whoever else, everybody) do you know the stock FEET holds, and (roughly) when they got bought? Could you post them or PM? I loath going through the quarterly reports and collect the data myself.

I don't, however they will be shown in full in the annual accounts, I will find that later.

That's simple enough, I'll try to find that myself and report back.

ETA
You're right, they list all holdings. Nice!

Screen shots from the accounts, hope you can read them, they are a year old so not up to date

Attached Thumbnails

   

That doesn't matter here (significantly). Thank you.

If FEET's lackluster performance is caused by investment flows rather than poor company performance, this should show in their valuation, especially those bought 2014-15. That's what I need the fund holdings for, gonna check some.

There are no investment flows into FEET in the sense of zero redemptions possible, however the fund has increased its share capital since inception. The main reason for underperformance is in excess of 100% of all inflows have been to index funds, however it's in a severe downturn that FEET could start performing, it's currently on a 16.25% discount, I picked up 500 yesterday!

That's what I meant. If that's true, then the companies held by FEET must get continually cheaper to buy, not necessarily the price as such but their valuation(?), P/E, price/book, or whatever.

Here are the holdings for FEET from the Interim accounts from last summer.

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Depressing performance, down 19% over 1 year, 5% over 5 years. Amidst Coronavirus can one realistically hope for a turnaround?

Discount has gone up by about 17.5% over the last year, I suspect the companies are quite resilient, certainly true in the main fund. It's unloved & not very liquid, even Smithson went to a 10% discount one day in March, it's back to a premium again.
I can't remember if there will be a vote to liquidate if the discount stays large, certainly is true for Smithson.

I see my second largest holding Smithson hit £14.00 in early trade, that would be an all time high off 1% now.

Unbelievable missed opportunity. Bought some at £9 in March. Should have bought a lot more as I had the cash.

With regards to taxes when holding Fundsmith, what is the correct thing to do?

Is it ...

Declare the income in a UK tax return and declare thewealth here in Switerland

or ...

Declare both the income and the wealth/value here in Switerland?

Income & wealth in CH.
UK has a generous dividend allowance on top of the personal allowance, however unless you are dual tax resident you are only taxable in CH on dividends.