Fundsmith Emerging Equit... Share Discussion Threads

[chinahere] 13/2/2020 10:59

Thanks. Yes, unlisted/unquoted. I couldn't see from their documents.

I did notice that the fund has a lot in India which may account for poor recent performance. The only question mark I have is how much Terry Smith will be involved in this going forward.

[essentialinvestor] 13/2/2020 10:53

Unquoted? - if you mean non listed holdings, none to my knowledge.

[chinahere] 13/2/2020 09:17

Looking at their website I can't find out how much of FEET is unquoted. Anyone have a rough idea? Thanks.

[essentialinvestor] 06/2/2020 10:05

It's hope that's a killer! ).

[sirrux] 06/2/2020 09:54

Is this finally about to go somewhere? EMG so so tricky, so much potential.

[essentialinvestor] 26/1/2020 16:50

No, the answer begins with P and ends with E ).

[1genx] 26/1/2020 16:07

the 11% discount has got my interest, this is just fallout from TS no longer managing ?

[chucko1] 23/1/2020 15:38

EI, I still believe!

[essentialinvestor] 18/1/2020 13:10

Anyone interested in this for 2020?.

[goyathlay] 18/1/2020 09:27

Terry's Annual Letter for the Main Fund reveals that the new stock is Clorox, a household products company from Oakland, CA. Not the worst idea buying another consumer staple/defensive stock in these heady times. He has previously held this stock a few years ago.

HttP//www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6

He also discusses the Woodford saga, in particular the folly of including illiquid stocks in a daily-dealing open-ended fund.

Worth a read.

Incidentally, looking at the last 8 annual letters, these are the FCF yield increases:

2012 9.6%
2013 8.1%
2014 7%
2015 9.7%
2016 11%
2017 13%
2018 8%
2019 9%

[essentialinvestor] 16/1/2020 15:24

Morningstar appear to have reduced the FEET rating to one *

[sirrux] 15/1/2020 09:40

As of 31 December 2019 - 41.4% exposure to India and 60.9% exposure to consumer staples. Sounds like FEET has both feet in there. If India grows this should grow.

[sirrux] 15/1/2020 09:35

Oh look, some rich guy is betting on India for the 21st century.



Does FEET still have that exposure?

[jbarker5555] 14/1/2020 23:50

Not relevant to FEET but seen as we're all interested in Terry Smith and (recently) how much he gets paid here is a Mail article on the subject:



:)

[essentialinvestor] 14/1/2020 18:56

Well NAV update tomorrow may be near 1280.


This could turn out to be a nice 2020 contra Buy.
Let's see.

[rickyl1] 14/1/2020 15:46

Ive bought in due to the discount widening. I wanted more EM/India to go with my China and Vietnam holdings.

[essentialinvestor] 13/1/2020 09:30

NAV tomorrow should be near 1270.

May be a contra Buy here.

Looks cheap.

[essentialinvestor] 13/1/2020 08:17

Due a move Up with increasing NAV.

[essentialinvestor] 10/1/2020 12:02

GBP weakening helping NAV.

Some changes in their top 10 holdings looking at the latest updates.

[essentialinvestor] 09/1/2020 17:56

Woodford shocked me tbh, have to admit looking at his Income Focus fund at one point- for some UK cyclical exposure. Luckily decided against it. If someone had told me 5 years ago how
It would end up, probably would have suggested they seek help. But it happened.

Then again investors were paying a near 100% premium to NAV on LTI just a few months back. To me that was la la land stuff.

[essentialinvestor] 09/1/2020 12:13

Agree with that.

[jbarker5555] 08/1/2020 21:29

Who cares how much he takes, the fees are perfectly simple to read and understand before one puts their cash in, if you don't like it don't cough up, simples. It's up to him and his partners what they do with any profits from the management company IMO :)

[goyathlay] 08/1/2020 19:25

Just the Main Fund and SSON for me, in a ratio of about 6:1.

Plus a bit of biotech shrapnel.

[essentialinvestor] 08/1/2020 19:02

I might draw the line at serial killer ).


There are plenty of company CEO's that have been paid millions for value destructive
tenures. Have no issue with pay for great results.

Currently hold 5 EM trusts.