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Terry Smith, veteran manager of the Fundsmith Equity fund
Terry Smith, manager of the £27bn Fundsmith Equity fund, has written an unexpected letter to shareholders defending the fund from headlines which predicted its demise earlier this year.
In the letter, Smith highlights articles from Citywire and City A.M. in May which focused on the outflows from the vehicle in the midst of the much-anticipated rotation from growth to value investing....
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