Why Fundsmith Equity should be allowed in a UK ISA

Fundsmith Equity is a successful global investment fund run by Terry Smith. It invests about 4% held in UK-listed shares, roughly the same amount as the MSCI World Index of global stocks. With £25bn in assets, the fund needs no help from Jeremy Hunt to put bums on seats. Yet there is a case for it to be included in the new UK ISA, which the chancellor has launched to reinvigorate the UK stock market. The new £5,000 ISA allowance announced in the recent Budget will only be available for investment in UK companies. But there is a big problem looming: investment trusts. These are UK-list...