Terry Smith's Fundsmith beat the market for a decade, then trailed four straight years. £3.31bn fled in 2024. Most investors lost money vs a tracker. Why? Timing. They bought high after stellar returns, sold low during underperformance. Jack Bogle's iron law: money arrives after gains, leaves during losses. Even star managers can't beat that.
SJP's low-cost funds, charging 0.2%, look competitive — but total costs matter more. What existing and prospective SJP clients need to know about value.
Robin Powell
Oct 97 min read
SUBSCRIBE
Simply provide your email address to receive our regular update.
