Fundsmith FEET 2018

Finance, Taxes, Banking, Insurance and Retirement
21
Not on the sort of stocks owned.

22
You pay your money, you take your choice I guess.

I think it's highly unlikely he'll beat his benchmark.. or an standard ETF like VWO, over 10 years with his huge fees.

He's shown he's good at running a concentrated developed market fund over the last few years, same par as Nick Train, but I'm not at all tempted to invest in this FEET fund

23
So 10% in EM would be overweight? It is below the GDP % in EMs...

I am still in my thirties and just building up my portfolio, so 1% for me would mean no more than a couple of thousands...

24
As a % of stock market valuation v global valuation of all listed companies. (UK 3% France 1.9% Germany 1.8% India 1.7% Switzerland 1.4%)

Clearly over the next 30 years the EM co growth rate will be many times that of the developed world for companies that are actually doing all their business in those countries. They will be way more volatile in any period of uncertainty so the time to buy is not when everything is going OK but when it looks like the end of civilisation that happens relatively often with the stock market, which frightens the general public.

25
Hi, does anyone know how to find enter the FEET fund in the Tax software from Canton ZH? I tried the recommended page: https://www.ictax.admin.ch/extern/it.html#/search

with ISIN (GB00BLSNND18), name etc, but it cannot find the fund :-(

Any suggestion?

26
Don't lose any sleep, just use value at 31.12, I rarely bothered with fund no & they did not give a shit.

27
Thank you!

28
Why would someone bother with FEET? It's absolutely appaling. 3.3% YTD? I'd have a hard time trying to build an ETF portfolio of absolute dog EM ETFs and I'm not sure I'd match this.

It has also underperformed broad EMs (FTSE or MSCI Index, your call) since inception.

This is nothing like the original Fundsmith.

29
I'm up 12% (or 40% annualized) since buying Q4 last year. Hard to judge on a short term basis, you have all sorts of factors which impact short term performance. I was holding off on EM but started to dip my toe in it last year.

Would like to buy more, but only when timing/value/environment is right.

30
You'd do just as well with EIMI (IE-Based, 0.18% TER) or VWO (US-based, 0.14% TER) ETFs without the extortionate management fee.

31
you need to look at the constituent holdings. if i wanted the kind of EM portfolio offered by vwo, i can pretty easily construct something similar myself without the fee and be more selective at the same time.

feet gives me access to the kind of EM companies that i want but am not able to construct myself.

32
Well honestly I have absolutely no clue about any of the constituents of FEET. What I see is 40% exposure to India, and as it is India is extremely overblown in value by P/E ratio (22 vs 12 avg for EM).

I'm more familiar and confident in constituents of MSCI All Nigeria tbh and it pays 6.5% dividend ;-)

33
The EM companies worth buying have a far higher PE than 22, however their growth rates make them seem good value to a long term investor.

34
For Buffet-style investing fans: https://www.cnbc.com/2019/09/18/berk...s-leaving.html

35
Anyone think this is worth buying. It's been a pig so far and it's been going for years. Will it turn the corner?

36
Everyone else knows about the future just as much as you do - i.e. nothing.

37
What is the problem with buying FS direct with FS?

I bought into FS a couple of years ago direct and had no problems ... a very straight forward transaction.

Has something changed and would such changes prevent me from buying more, or is this not a problem as I am already an existing client?

38
I think you can, the online system does not work if your debit card has a foreign address. Phil MCR has definitely bought directly by bank transfer.

My direct holding is an ISA originally a PEP, my wife who is joint UK resident holds directly, most of my holdings are via Luxembourg in Euros, a small holding von Hargreaves Lansdown.

39
You certainly have that option on the website:

https://www.fundsmith.co.uk/invest

Select "non-ISA" at the start and Switzerland seems to be acceptable as a residence and tax residence option.

40
Interesting comment, looks like it did just before you wrote the post.

FEET has beaten SMT & Smithson on 1 week, 1 month & 3 months.

FEET has beaten Fundsmith & Smithson on 3 / 6 month view

FEET 1 week + 4.34, 1 Month 9.32, 3 months 17.81, 6 months + 31.63

Smithson 1 week +2.6, 1 Month 0, 3 months 4.77, 6 months 22.67

Fundsmith 1 month 0, 3 months +4.4 , 6 months 12.36

SMT 1 week -3.2, 1 Month -2.46, 3 months + 13.62