Whey and weight-loss drugs to eat into Applied Nutrition profit Retail Applied Nutrition has warned that a five-fold increase in whey protein prices will eat into its bottom line next year even as it beefed up its forecasts for the next year. The protein-shake maker revealed its adjusted pre-tax profit had risen by more than 40 per cent in the 12 months to August, a figure [...]
Tracker funds are turning 50 – will they make it to 100? Markets Vanguard launched its first ever tracker fund 50 years ago this month. Since then, they have had an enormous impact on the way our capital markets function – and now make up more than half all fund-held assets. Ali Lyon asks: will they be as popular when they turn 100? The 1976 launch of the [...]
Terry Smith dubs weight-loss giant Novo Nordisk ‘investment disaster’ Investing Star stockpicker Terry Smith has dubbed weight-loss giant Novo Nordisk an “investment disaster” less than two years after he dumped his entire Diageo stake over fears that GLP-1 users would ditch alcohol. The veteran investment manager, who runs the Fundsmith Equity fund, has said that he regrets his investment in the Danish pharmaceutical firm. “Novo [...]
Terry Smith sells Magnum stake weeks after Unilever salvo June 23, 2026 Star stockpicker Terry Smith has offloaded his entire holding in Unilever spin-off Magnum Ice Cream just weeks after exiting his stake in its former parent company, which he accused of abandoning the priorities of its long-term investors. Smith, the feted fund manager who runs the £12.7bn Fundsmith Equity Fund, dumped his stake in Amsterdam-listed Magnum [...]
Star stockpicker Terry Smith dumps entire Unilever holding after McCormick mega-merger May 12, 2026 One of Britain’s best-known fund managers has dumped his holding in Unilever worth hundreds of millions of pounds, accusing the consumer goods giant of abandoning its traditional shareholders in favour of activist-driven deals like last month’s McCormick mega-deal. Terry Smith, the star stockpicker behind the £12.5bn Fundsmith Equity Fund, sold out of his position in [...]
Fund managers fear for the future of the London Stock Exchange May 12, 2025 Leading fund managers are warning that sentiment towards the London Stock Exchange is drastically low following a meeting with Downing Street to discuss the issue. Nick Lawson, chief executive of investment group Ocean Wall, described UK equity markets as being at “rock bottom” following a meeting with Varun Chandra, the government’s special adviser on business. [...]
Terry Smith: Reeves must drop tax hikes to attract UK investment May 6, 2025 Star fund manager Terry Smith has called on Chancellor Rachel Reeves to cancel her tax hikes to make investment in the UK more attractive. Smith, who runs the £20bn Fundsmith Equity fund, argued that to boost the quality of UK companies the government should “reverse a lot of the policies that are in place with [...]
Fundsmith: UK’s biggest fund overtaken by St James’s Place February 11, 2025 Fundsmith Equity, which has been the largest investment fund in the UK for more than five years, has finally been overtaken by St James’s Place. St James’s Place’s Polaris 3, one of the funds in the wealth manager’s multi-asset range, became the first in the UK to reach £30bn in assets at the end of [...]
What went wrong for Fundsmith Equity in 2024? January 3, 2025 Fundsmith Equity, the largest investment fund in the UK, registered its fourth consecutive year of underperformance in 2024. Terry Smith’s £22.6bn fund returned just 8.9 per cent last year, compared to 20.8 per cent for its benchmark, the MSCI World Index. This drastic underperformance followed a similar trend from previous years. The fund underperformed its [...]
Terry Smith’s £23bn fund falls out of favour after Magnificent Seven misstep November 5, 2024 Terry Smith’s £23bn equity fund has once again fallen off a list of the UK’s most-bought investment vehicles after failing to cash in on the performance of the ‘Magnificent Seven’ tech stocks, new analysis suggests. The Magnificent Seven refers to a group of US tech giants, including Alphabet, Meta and Nividia, that have seen stratospheric [...]