Fundsmith Equity Fund’s Q2 2022 Investor Letter

Fundsmith Equity, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Fund underperformed what is perhaps the most obvious comparator — the MSCI World Index (£ net), which itself fell by 11.3% — by 6.5 percentage points during the first half of 2022. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.