In its June factsheet, Fundsmith Equity listed Brown-Forman as one of the strategy’s top detractors alongside Automatic Data Processing, Visa, Unilever and Procter & Gamble.
Brown-Forman’s share price has fallen by 24.4% since the beginning of the year although it has made a 10.1% recovery in the last five days, according to data from MarketWatch.
Gold, Europe, property and renewables dominate active fund returns in H1
Elsewhere in the report, the fund built a holding in EssilorLuxottica – an eyewear and ophthalmic lenses business – last month.
The latest changes to the por…
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