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Terry Smith and Fundsmith Emerging Equities Trust manager initiate fresh holdings Fundsmith boss alludes to new mystery holding added in July, while Michael O’Brien buys Chinese medical platform and Indian business management provider Fundsmith founder Terry Smith added a mystery holding to his £27bn flagship equity fund in July, while Fundsmith Emerging Equities Trust (Feet) manager Michael O’Brien has picked up two new positions.   Smith (pictured) is famed for his “buy good companies, don’t overpay and do nothing” approach, a creed which the managers in his Fundsmith stable also live by.  But recently the boutique boss has been making an uncharacteristic number of chops and changes to his Fundsmith Equity fund and other managers have been following suit. 

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