Smithson Investment Share Discussion Threads

[peter9310] 05/4/2020 20:33

Coronavirus-crisis: How to buy the bounce By Megan Boxall COVID19 Market crashes provide opportunities, especially for those who don’t have pressing financial concerns. http://bit.ly/38wNos7

[hectorscrackhouse] 05/4/2020 18:55

Not sure about that Bez, The Denmark increase might be because Coloplast and Novo Nordisk have held up well and therefore account for a higher proportion of the assets. Similarly, L'Oreal has not tanked and may account for the slight change in France The only thing I can see is that Consumer Discretionary has gone up from 2.7 to 3.3% so that might be a clue.

[bezer] 05/4/2020 18:29

hectorscrackhouse: I was asking the same question. I looked at the geographical split between the latest Fundsmith Factsheet and last month's. My guess is whatever they are, (both will be Large Cap) one is Danish, the other French. Interesting to see if I am right.

[hectorscrackhouse] 05/4/2020 18:05

According to his 'Corona letter' Terry is buying two news stocks for the main fund. Any idea what they could be ?

[bezer] 31/3/2020 13:27

The Smithson AGM and update has just been posted on their website in the TV section. This should be most interesting!

[essentialinvestor] 19/3/2020 17:07

Very significant weighting to the US equity market. With coronovirus cases just taking off stateside.

[steve3sandal] 29/2/2020 16:16

None of my business but 4/6 basstrend ITs are doing pretty much the same thing with quite a lot of stock overlap. So.....this is not diversification unless it’s a tilt within a wider pot. No surprise they all did the same. I held/hold Throgmorton Smithson and Scottish Mortgage. Discount widening from premium in sone cases. Provided the world isn’t going to hell in a handcart all well in Top up mode IMO. The experts suggest staying the course.

[lomax99] 29/2/2020 15:14

Yes, so much for funds diversifying risk. I am down almost as much, on average, on my funds (investment and unit trusts) as I am on my individual stock selections! From your list I hold ATT, THRG and SSON.

[thelongandtheshortandthetall] 29/2/2020 14:52

basstrend They probably dropped further because they went from a premium above NAV to a discount on a much lower NAV. Big fan of SSON here BTW

[basstrend] 29/2/2020 13:30

Yes the SSON share price got clobbered, along with the global markets in general. This is down to general panic and hysteria over the coronavirus of course. Some might argue that some stocks were getting a 'bit toppy' too so maybe some form of correction was due at some point. I'm not sure about that. I hold six investment trusts in my SIPP, including SSON and they all took a severe bashing last week. In just one week the average drop was 17%, which is quite a bit higher than the global markets dropped in the last week. Not sure I understand why ITs suffered worse (other than travel related stocks) compared to other stocks and indices.. Anyway, here's the drop I observed on the 6 trusts mentioned above, in the last 5 market days only - 18.95% ATT - Allianz Technology Trust 18.28% THRG - BlackRock Throgmorton Trust 18.85% MNL - Manchester & London Inv Trust 14.86% PCT - Polar Capital Trust 13.69% SMT - Scottish Mortgage Trust 17.39% SSON - Smithson Inv Trust NB the average 5 day drop across these 6 IT's is: 17% - quite shocking really!

[spacecake] 29/2/2020 11:41

FEET pain a small dividend. Anyway the share price got well and truly clobbered this week, coronavirus panic or something in the results ?

[chucko1] 26/2/2020 08:44

Some time ago, in one of his annual proclamations, TS explained in detail why he paid no dividends. If you want income, sell a few shares yourself as and when. The return analysis backed up the concept that it all amounted to the same thing as him paying them himself. The idea is that his funds will return more if kept invested, of course.

[wirralowl] 26/2/2020 08:36

Thanks bezer

[bezer] 25/2/2020 14:25

WirralOwl: For the time being there will be no dividend paid. The below is from the Interim Financial Report, dated August 2019. Dividends The Company's principal objective is to provide shareholder returns through long-term capital appreciation rather than income. In accordance with the Company's policy, an interim dividend has not been declared by the Board. This position will be kept under review. It should not be expected that the Company will pay a significant annual dividend, but the Board intends to declare such annual dividends as are necessary to maintain the Company's UK investment trust status.

[wirralowl] 25/2/2020 13:39

Can anyone confirm if we're ever likely to receive dividends from SSON? I can't put my finger on it, but have in mind that we'd receive a small annual payout from SSON, of a similar level to the payment received from Fundsmith? TIA.

[llygad] 26/1/2020 20:07

Clorox mentioned in T Smiths' annual letter to fundholders. Probably can be accessed on Fundsmith website and well worth a read.

[bezer] 26/1/2020 10:53

This is my list that I have built up for the holdings of Smithson. I believe it is comprehensive. It is well worth putting these cos into a spreadsheet and banging in what they were 1/1/19 and now. The overall results are VERY impressive when you average the %up/down....... I hope this is helpful. Nemetschek Paycom Verisign Technology one Equifax Verisk Analytics Masimo msci Dominos Pizza Enterprises Recordati Spa Rightmove Ansys Abcam Check Point Simcorp Sabre Cognex Spirax-Sarco  Ambu Halma Fisher & Paykel IPG Photonics A.O. Smith Temenos Fevertree Geberit Diploma Dominos Pizza Group Chr. Hansen

[bezer] 26/1/2020 10:21

If you want to look at a real success for Smithson, please look at their holding in Paycom Software. To a lesser extent: Nemetschek and Msci. Yes, there are about three failures so far in the portfolio but the successes dwarf them.

[checkers2] 17/1/2020 12:17

Out of interest where did you find the CLOROX reference llygad?

[the juggler] 17/1/2020 12:03

Diolch llygad! The performance here too of Smithson over 15 months has been incredible. I’ve been in Fundsmith since February 2015 and can only wish I had known of it earlier.

[llygad] 17/1/2020 11:21

Fundsmith buying Brown-Forman (Jack Daniel's distiller) and Clorox (US household products & personal care.

[brexitplus] 07/1/2020 15:12

I have a recollection that it is another luxury goods/cosmetics company, but can remember where I saw it.

[goyathlay] 07/1/2020 12:37

Terry has bought a share for the main fund. Anyone out there have any idea which one?