! WARNING : RESTRICTED BUSINESSES !
N0 BOMBS
NO BOOZE
NO BETTING
NO BURNING COAL
NO BULLDOZING
NO BLACK GOLD
£ NO BONKING NO BACCY NO BASELESS PAY N0 BAMBINOS NO BRIBERY NO BULLYING
WILL screen the world to find businesses which:
• Sustain a high return on operating capital employed
• Have advantages that are difficult to replicate
• Do not require significant borrowing to generate returns
• Have a high degree of certainty of growth from reinvestment of their cash flows at high rates of return
• Are resilient to change, particularly technological innovation
• Have a valuation which is considered to be attractive
1
WILL NOT invest in any of the following sectors:
• Aerospace and Defence • Brewers, Distillers and Vintners • Casinos and Gaming • Gas and Electric Utilities • Metals and Mining • Oil, Gas and Consumable Fuels • Pornography • Tobacco
Performance Since Inception +29.1%
Fundsmith Sustainable Equity Fund1
+12.0%
Investment Association Global Sector
From 1st Nov 2017 to 30th June 2019 % Total Return
2019 Fundsmith Sustainable Equity1
Investment Assoc. Global Sector
Quartile Rank Nov 2017
to 30.6.19 +26.2
+19.9 1st
I class accumulation shares. Source: Financial Express Analytics. Inception: 1st
2018 +4.6 -5.7 1st
Inception to 30.6.19
+29.1 +12.0 1st
In addition, Fundsmith screens investments for sustainability in the widest sense, taking account not only the companies handling of environmental, social and governance policies and practices but also their policies and practices on research and development, new product innovation, dividend payments and the adequacy of capital investment.
www.fundsmith.green 020 3551 6337
For investment professionals only. This is not a financial promotion and this document does not constitute an offer or solicitation. Issued and approved by Fundsmith LLP which is authorised and regulated by the Financial Conduct Authority. Fundsmith LLP is a limited liability partnership registered in England and Wales with number OC354233. Its registered office address is 33 Cavendish Square, London, W1G 0PW.
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