Fundsmith has launched a feeder fund that enables offshore investors to access the Fundsmith Equity Fund via a regulated SICAV fund in Luxembourg, What Investment reports. The start of Fundsmith Equity Fund Feeder makes Fundsmith the first U.K. fund management company to use the enabling provisions of the UCITS IV legislation. This recent legislation permits offshore investors to access U.K. funds.
The Fundsmith Equity Fund, started in 2010, has a portfolio of 20 to 30 companies and levies a flat annual management charge of one percent plus trading costs. The fee structure will remain the same for investments via the feeder fund.
Click here for the story from What Investment.
Click here for additional coverage from FundWeb.
