Unilever has ‘lost the plot’ in preparation for the settlement, says Terry Smith
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Unilever has “lost the plot” and its regulatory rewards show its strong commitment to running the business, according to strong fund manager Terry Smith.
The founder of Fundsmith, who owns the top 10 shares in Unilever whose long-term history has helped him make a lot of sales revenue, used his annual letter to investors on Tuesday to cut off a global consumer group.
Dove soap maker, Hellmann mayonnaise and Magnum ice cream have set major climate and social goals. trying to prove that a stable business manages money well.
Smith, a former shareholder who runs a £ 28.9bn flagship Fundsmith Equity Fund, wrote: “Unilever seems to be operating under the guise of managers who are interested in publicly disclosing established information and ignoring business start-ups. ”
He noted that although “the most recognizable sign of this is spitting in public has been affected by the refusal to offer Ben & Jerry ice cream to the West Bank. . . there are very stupid examples showing this problem ”.
Smith added: “A company that feels it should explain the purpose of Hellmann’s mayonnaise in our minds has obviously lost the plot. The Hellmann brand has been around since 1913 so we think by the time consumers come to realize its purpose (destructive information – salads and sandwiches).”
Unilever, whose shares have dropped by almost 9 percent in the last 12 months, was one of the best performers in the Fundsmith Equity Fund last year, along with PayPal, Amadeus, Kone and Brown-Forman. The companies’ negative support for the fund’s recovery last year has made it less effective against the 2021 scandal.
Last year the Fundsmith Equity Fund rose 22.1 per cent, behind the MSCI World Index, which achieved 22.9 per cent in terms of performance and return on profits.
Smith describes his three-pronged approach to “buy good companies, pay less, do nothing” – in terms of reducing refunds to reduce costs. He wrote in the letter that he was retaining a position at Unilever “because we think its powerful forms and distribution will succeed in the end”.
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Since its inception in November 2010 the Fundsmith Equity Fund has earned an average of 18.6 percent annually.
Smith wrote: “I find it very difficult to achieve this in a highly prosperous and prosperous world. . . as the tide rises over all the other ships, including some that would otherwise be missing or uninhabitable. ”
Unilever was not immediately available for comment.
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