FEET closure

aroominyork

So Terry Smith is giving up on emerging markets and the FEET Board is recommending closure of the fund. For those of you who hold it, the 10% price rise on the news - bringing it closer to the NAV that you will receive on dissolution - is a rare bit of solace. That said, its five year performance is not too far behind the index but perhaps Terry has concluded EMs are more complex than he thought and his team's skill set is not suited to it. I will be very interested if he gives a detailed and frank interview about what he has learned about EMs.

masonic

Did nobody want to step into his shoes?

aroominyork

masonic said:

Did nobody want to step into his shoes?

Maybe they would, but the Board is recommending closure.

masonic

aroominyork said:

masonic said:

Did nobody want to step into his shoes?

Maybe they would, but the Board is recommending closure.

Woosh!

Alistair31

Fundsmith Equity next

Prism

Yes it was probably time. It has now quietly beaten the index over the last 3 and 5 year periods, although it didn't often feel that way with the increasing discount. Emerging markets have performed poorly in general. Maybe surprisingly it has been a much better investment than Smithson over the last 3 years.

I will likely switch some of the cash returned into another EM trusts which I have held previously, MMIT, and the rest into an EM ETF.

talexuser

Ar least he's not prepared to pocket on-going fees for a so-so performing fund, which the vast majority of other managers and fund houses are very happy to do.

grumiofoundation

masonic said:

aroominyork said:

masonic said:

Did nobody want to step into his shoes?

Maybe they would, but the Board is recommending closure.

Woosh!

Went toetally over their head

TBC15

Alistair31 said:

Fundsmith Equity next

Blasphemy  

aroominyork

Prism said:

I will likely switch some of the cash returned into another EM trusts which I have held previously, MMIT, and the rest into an EM ETF.

If you would consider a proxy EM fund with a history of good returns, downside protection and low volatility, look at Stewart Investors Asia Pacific Sustainability (or its slightly less well performing big sister 'Leaders' fund which has fewer midcaps).

Alistair31

TBC15 said:

Alistair31 said:

Fundsmith Equity next

Blasphemy  

Haha, I can joke as I recently sold out. If anything it’s be Smithson next to be liquidated, has actually performed worse than FEET.