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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Why ‘FEET’ remains in very capable hands

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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Our March ‘buy’ call on Fundsmith Emerging Equities Trust (FEET) is 3.25% in the red, sentiment souring slightly on the news (22 May) star manager Terry Smith is stepping back from the day-to-day running of the trust.
The reassuring news is Smith - in his role as Fundsmith’s chief investment officer (CIO) - will continue to lend advice and support to Michael O’Brien and Sandip Patodia, appointed to the roles of Portfolio Manager and Assistant Portfolio Manager respectively.
We don’t expect any significant change in the investment approach of the trust, which is cutting its annual fee by 0.25% to 1% of NAV, despite Smith stepping back from his role as lead manager. O’Brien and Patodia have both been involved in the management of the trust since its 2014 inception and are fully versed with the current holdings.
FEET puts money to work with established, well-managed companies with cash generative brands of consumer staple products able to deliver compound growth over the long term.
SHARES SAYS: We believe it is business as usual for FEET with Terry Smith continuing to provide oversight as CIO. We also note he note bought shares on the day of the announcement in a show of confidence in the promoted pair.
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.
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