Smithson initiates holding in aviation-themed chicken wing chain
Fundsmith global smaller companies trust slumps against the MSCI World Smid index in Q1
The Smithson Investment Trust has added fast food firm Wingstop and pest control company Rollins to its portfolio.
In Q1 2021, the £2.8bn trust’s net asset value fell by 2.4% and its share price was down 3%, while its benchmark the MSCI World Smid index rose 6.4%.
Speaking at the trust’s second AGM manager Simon Barnard (pictured) blamed underperformace during the period on not having exposure to the airline, energy and real estate sectors which rose sharply thanks to optimism over the economic rebound.
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Terry Smith set to pass control of Fundsmith to staff as he considers successor
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