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Vasant Kunj
Posted: 06 November 2024 13:22:42(UTC)
#1939

Joined: 06/11/2024(UTC)
Posts: 1
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Chris1986
Posted: 07 November 2024 13:58:30(UTC)
#1941

Joined: 08/01/2020(UTC)
Posts: 54
How did Fundsmith fall yesterday

2024-11-06 711.08
2024-11-07 706.38
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D Bergman
Posted: 07 November 2024 14:28:40(UTC)
#1942

Joined: 22/03/2018(UTC)
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Chris1986;324930 wrote:
How did Fundsmith fall yesterday

2024-11-06 711.08
2024-11-07 706.38


Strange question.
It rose by 15 p yesterday and then fell by 5 p today.
(In general FS's price is determined at 1400 GMT)

Having largely dollar-denominated shares, it does reflect the $/£ moves.
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Thrugelmir on 07/11/2024(UTC), ANDREW FOSTER on 07/11/2024(UTC)
Chris1986
Posted: 07 November 2024 14:34:07(UTC)
#1943

Joined: 08/01/2020(UTC)
Posts: 54
If its price is determined by 2pm wouldnt you expect all the market moves in US and the tanking GBP be reflected in todays price ?
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D Bergman
Posted: 07 November 2024 16:05:40(UTC)
#1945

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The Dollar rose against all currencies (rather than the Pound "tanking" as you put it) yesterday.
This morning the Dollar gave up some of its gains.

I don't know what trading point FS takes as the day's price.
However, I shall be at the FS annual meeting in early December and as all the UK management (and Terry Smith) are usually there, I'll try to find out.
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Chris1986 on 07/11/2024(UTC), Thrugelmir on 07/11/2024(UTC), Peter Dixon on 10/11/2024(UTC)
Dan L
Posted: 08 November 2024 10:20:24(UTC)
#1944

Joined: 29/04/2018(UTC)
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Chris1986;324935 wrote:
If its price is determined by 2pm wouldnt you expect all the market moves in US and the tanking GBP be reflected in todays price ?


The effect of currency has quite a large impact on Fundsmith prices and yesterday the Pound went up vs the Dollar. Fundsmith also uses out of hours valuations on its US shares so much of the previous days rises were likely already built into the previous days price rise.

Also, quite of few of the companies that Fundsmith holds could be hit hard by a trade war. Philip Morris, P&G, Unilever, L'Oreal and Brown Forman are all significantly down over the last few days. Fundsmith is currently 35% consumer staples/disc
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D T on 08/11/2024(UTC), Chris1986 on 09/11/2024(UTC)
Headless Chicken
Posted: 09 November 2024 09:34:12(UTC)
#1951

Joined: 08/02/2017(UTC)
Posts: 15
I think they hold quite a large chink of Novo Nordisk and the share price has been under considerable pressure lately. It might explain why the fund has been pretty lacklustre recently?
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Peter Dixon
Posted: 10 November 2024 10:47:16(UTC)
#1946

Joined: 29/03/2008(UTC)
Posts: 184
D Bergman;324939 wrote:

However, I shall be at the FS annual meeting in early December and as all the UK management (and Terry Smith) are usually there, I'll try to find out.

I understood that what they describe as the "Fundsmith Annual Shareholders' Meeting" was held in February this year. (Not that I've ever been.)

Is this the same thing?
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D Bergman
Posted: 10 November 2024 11:22:36(UTC)
#1947

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Peter Dixon;325186 wrote:
D Bergman;324939 wrote:

However, I shall be at the FS annual meeting in early December and as all the UK management (and Terry Smith) are usually there, I'll try to find out.

I understood that what they describe as the "Fundsmith Annual Shareholders' Meeting" was held in February this year. (Not that I've ever been.)

Is this the same thing?


No, the ASM is a much bigger affair, held at Methodist Central Hall (opposite Westminster Abbey) in February or March every year. Usually over a thousand people attend..

FS have an informal annual gathering (more a drinks party) in a pub in Nov or Dec to celebrate the fund's anniversary. Supposedly for larger investors and professionals to have a chance to to chat with the directors.
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Peter Dixon on 10/11/2024(UTC)
Peter Dixon
Posted: 10 November 2024 14:45:12(UTC)
#1948

Joined: 29/03/2008(UTC)
Posts: 184
D Bergman;325190 wrote:
Peter Dixon;325186 wrote:
D Bergman;324939 wrote:

However, I shall be at the FS annual meeting in early December and as all the UK management (and Terry Smith) are usually there, I'll try to find out.

I understood that what they describe as the "Fundsmith Annual Shareholders' Meeting" was held in February this year. (Not that I've ever been.)

Is this the same thing?


No, the ASM is a much bigger affair, held at Methodist Central Hall (opposite Westminster Abbey) in February or March every year. Usually over a thousand people attend..

FS have an informal annual gathering (more a drinks party) in a pub in Nov or Dec to celebrate the fund's anniversary. Supposedly for larger investors and professionals to have a chance to to chat with the directors.

Ahh, I see, so more like an agm, and presumably, most of the investors holding directly with Fundsmith rather than other platforms?
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