Investec: Underperforming Fundsmith shares 'offer significant contrarian value'

FEET launched in 2014, as the first investment company offered from Terry Smith's Fundsmith investment management firm to much fanfare, reaching a 12% premium rating within three months of IPO. However, returns in the trust's first six years have been "dull", Investec's Alan Brierley noted in a recent initiation note. FEET has returned 11.5% in that time, just shy of its wider AIC Global Emerging Market sector peers' 14% gain, and well short of its MSCI Emerging Markets benchmark index's 58.3%, according to data from FE fundinfo. Terry Smith: Neil Woodford was 'playing a different gam...