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Smithson beats its benchmark in maiden set of results
The first financial report from Fundsmith’s mid-cap investment trust Smithson (SSON) reveals it outperformed its MSCI World Small and Mid Cap benchmark in the period from its stock market debut on 19 October to 31 December 2018.
Despite coming in ahead of the benchmark, Smithson’s net asset value (NAV) was still down 5.8% in the period though its share price remained flat over the same time frame as it traded at a premium to NAV. The stock has subsequently rallied in 2019 and has risen by 11% in share price terms to £11.10 since flotation.
There are now 29 holdings in the portfolio including Danish medical devices firm Ambu which has been the biggest contributor to performance to date.
DISCLAIMER: Editor Daniel Coatsworth owns shares in Smithson