On Thursday 28th March 2019, MeDirect held its first edition of medirectalk, a series of seminars featuring several financial experts and asset managers on market and investment opportunities. The first medirectalk - held at AX The Palace, Sliema - featured Terry Smith, the portfolio manager of Fundsmith LLP.
The event began with an opening speech by Wilfred Mallia, one of the founders of Charts - a local stockbroking, wealth management and corporate advisory firm - which merged with MeDirect in 2018. Wilfred mentioned one of the key moments that led to Terry Smith's rise in popularity. In 1992, Terry Smith was dismissed from his position as the Head of UK Company Research at UBS Phillips & Drew, following the publication of his best selling book Accounting for Growth. Though some would see this as a controversial move, it helped the book soar to the top of the bestseller charts, eventually selling over 100,000 copies.
Founded in 2010, the Fundsmith Equity Fund is one of the most popular and successful funds investing in global equity, as it currently holds about £17bn assets under management. The company has also been able to deliver double digit returns through a clearly defined and simple investment philosophy. The fund is distributed locally through the MeDirect branch network, and available on our MeDirect online platform.
During his speech, Terry Smith spoke about the investment strategy that the company has adopted when selecting which companies to invest in, and explained more about how the fund has been able to continue growing at the rate that it has already been for the past ten years. The talk was followed by a question and answer session, where Terry Smith answered questions that the 150 people in attendance submitted. Drinks and canapés were served to conclude the evening.
You can watch the first edition of medirectalk featuring Terry Smith - Fundsmith LLP here.