Terry Smith suggests platforms exacerbate fund liquidity issues - reports

‘Can’t list fund on a platform unless it’s daily dealing’

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Terry Smith, manager of Fundsmith Equity
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Terry Smith, manager of Fundsmith Equity

Terry Smith, manager of the £17.8bn Fundsmith Equity fund, has hit out at platforms for only selling daily dealing funds, creating liquidity problems for those with assets that are harder to sell.

Smith told the FT: "There is nothing wrong per se with open-ended funds owning [hard to sell] companies. What is clearly wrong is putting such instruments in a daily dealing fund." Smith added: "But...

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