Terry Smith strikes match
FUND manager Terry Smith, the contrarian boss of asset manager Fundsmith, spent almost £70m investing in a Swedish tobacco accessory company and soft drink giant Dr Pepper last half-year.
He poured £38.7m into Swedish Match, which makes popular Swedish tobacco product snus, £31.8m into Dr Pepper Snapple and also spent £28.8m on medical supplies company Stryker, making the Michigan-based firm the fund’s second biggest holding.