Fundsmith’s Q4 2020 Investor Letter

Fundsmith LLP, an investment management firm, published its ‘Fundsmith Equity Fund’ year-end 2020 investor letter – a copy of which can be downloaded here. A return of 18.3% was recorded by the fund in the fourth quarter of 2020, outperforming its MSCI World benchmark that delivered a 12.3% return. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.op 5 holdings to have a peek at their top bets for 2021.