Investment Week - Why tobacco is one of my favourite ever sectors

Fundsmith LLP (“Fundsmith”) is authorised and regulated by the Financial Conduct Authority and only acts for the funds to whom it provides regulated investment management and transaction arrangement services. Fundsmith does not act for or advise potential investors in connection with acquiring shares in Fundsmith Emerging Equities Trust plc and will not be responsible to potential investors for providing them with protections afforded to clients of Fundsmith. Prospective investors are strongly advised to take their own legal, investment and tax advice from independent and suitably qualiﬁed advisers. The value of investments may go up as well as down. Past performance is not a guide to future performance.

THE WEBSITE YOU ARE SEEKING TO ACCESS IS MADE AVAILABLE BY SMITHSON INVESTMENT TRUST PLC (THE "COMPANY") IN GOOD FAITH AND IS PROVIDED FOR INFORMATION PURPOSES ONLY.

THE INFORMATION CONTAINED ON THIS WEBSITE IS INTENDED FOR PERSONS IN THE UNITED KINGDOM ONLY AND IN PARTICULAR IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM), THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISIDICTION WHERE ITS RELEASE, PUBLICATION OR DISTRIBUTION IS OR MAY BE UNLAWFUL.

Please read this notice carefully – it applies to all persons who view this website. Please note that the terms set out below may be altered or updated without notice. You should read the following provisions in full each time you visit the site. In addition to this disclaimer, you should read the Legal Notice applicable to this site before you access it. A link to this site's Legal Notice can be found at the bottom of each page on this site.

The information on this website is intended for, and may be accessed only by, persons in the United Kingdom. Viewing the materials you are seeking to access may not be lawful in other jurisdictions.

The information on this website is for information purposes only and does not constitute or form a part of any offer or invitation to sell or issue, or the solicitation of any offer to purchase or subscribe for, securities. Any subscription for securities in the Company may be made only pursuant to a prospectus that will provide detailed information about the Company and the securities to be offered (the "Prospectus" ). Particular attention should be paid to the “risk factors” section of the Prospectus which will highlight specific risks relating to the Company.

No securities of the Company have been or will be registered under the US Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States, or to or for the account or benefit of any US person (within the meaning of Regulation S under the Securities Act). In addition, the Company has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended. There will be no public offer of securities in the United States.

If you are not permitted to view this website or are in any doubt as to whether you are permitted to view this website, please exit this website immediately by clicking on the "Disagree" button below. The contents of this website must not be released or otherwise forwarded, distributed or sent, directly or indirectly, in whole or in part, outside the United Kingdom and in particular in or into any Member State of the EEA (other than the United Kingdom), the United States, Australia, Canada, the Republic of South Africa or Japan or any other jurisdiction where the distribution of such materials would or may breach any applicable law or regulation or would require any registration or licensing within such jurisdiction. Persons receiving any such materials (including, without limitation, custodians, nominees and trustees) should observe these restrictions and must not, directly or indirectly, in whole or in part, forward, distribute or send them in, into or from any jurisdiction outside the United Kingdom. Neither the Company, Fundsmith LLP ("Fundsmith") nor their respective advisers accept any responsibility for any violation by any person of any of these restrictions.

Basis of access

Access to this website is for information purposes only. Any person seeking access to this website represents and warrants to the Company and to Fundsmith that they are doing so for information purposes only. Making this website available does not constitute an offer to issue or sell or the solicitation of an offer to subscribe for or buy securities in the Company. Further, it does not constitute a recommendation by the Company or Fundsmith or any associated company or any other person to subscribe for or buy securities in the Company. The information on this website is general in nature and does not in any way constitute investment, tax, legal or other advice.

None of the Company, Fundsmith or any other person has, or accepts, any responsibility or duty to update any information, document or announcement contained on this website and the Company reserves the right to add to, remove or amend any information available on this website at any time.

Investec Bank Plc ("Investec"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and no-one else in connection with the matters referred to on this website and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Investec or accordingly for providing advice in relation to any matters referred to on this website. Apart from the responsibilities and liabilities, if any, which may be imposed on Investec by the Financial Services and Markets Act 2000, as amended, or the regulatory regime established thereunder, Investec does not accept any responsibility whatsoever for the contents of this website or for any statement made or purported to be made by it, or on its behalf, in connection with the Company. Investec accordingly disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of such material or any such statement.

The information on this website is general in nature and may be subject to amendment and updating without notice. None of the Company, Fundsmith nor any other person guarantees the accuracy or completeness of any information on this website and each such person disclaims all representations and warranties, whether express or implied, to the greatest extent permitted by applicable law and regulation. By continuing to use this website, you agree to the exclusion by such persons, to the greatest extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to the provision of and your use of this website and its content.

Neither the Company, its directors, Fundsmith nor any other person accepts any responsibility in respect of any information contained on any other website which may be linked to or from this website other than the link provided to the website maintained by Link Asset Services in connection with the online offer for subscription for ordinary shares in the capital of the Company.

Use of Cookies

Please refer to Company's Cookies Policy for details on how cookies are used on this website.

Confirmation of understanding and acceptance of terms

Please select your country of residence:

By clicking on the "Agree" button below, you confirm, represent and warrant to the Company and to Fundsmith that you are located in the United Kingdom and you agree that you will not forward, distribute or send any materials contained in this website to any person outside the United Kingdom.

I have read and understood the terms set out above, which I understand may affect my rights and I agree to be bound by those terms. By clicking on the "Agree" button below, I confirm that I am permitted to access the website.

THE WEBSITE YOU ARE SEEKING TO ACCESS IS MADE AVAILABLE BY FUNDSMITH EMERGING EQUITIES TRUST PLC (THE "COMPANY") IN GOOD FAITH AND IS PROVIDED FOR INFORMATION PURPOSES ONLY.

The information on this website is intended for, and may be accessed only by, persons in the United Kingdom. Viewing the materials you are seeking to access may not be lawful in other jurisdictions.

The information on this website is for information purposes only and does not constitute or form a part of any offer or invitation to sell or issue, or the solicitation of any offer to purchase or subscribe for, securities. Any subscription for securities in the Company may be made only pursuant to a prospectus that will provide detailed information about the Company and the securities to be offered (the "Prospectus"). Particular attention should be paid to the “risk factors” section of the Prospectus which will highlight specific risks relating to the Company.

If you are not permitted to view this website or are in any doubt as to whether you are permitted to view this website, please exit this website immediately by clicking on the "Disagree" button below. The contents of this website must not be released or otherwise forwarded, distributed or sent, directly or indirectly, in whole or in part, outside the United Kingdom and in particular in or into any Member State of the EEA (other than the United Kingdom), the United States, Australia, Canada, the Republic of South Africa or Japan or any other jurisdiction where the distribution of such materials would or may breach any applicable law or regulation or would require any registration or licensing within such jurisdiction. Persons receiving any such materials (including, without limitation, custodians, nominees and trustees) should observe these restrictions and must not, directly or indirectly, in whole or in part, forward, distribute or send them in, into or from any jurisdiction outside the United Kingdom. Neither the Company, Fundsmith LLP ("Fundsmith") nor their respective advisers accept any responsibility for any violation by any person of any of these restrictions.

Basis of access

Investec Bank Plc ("Investec"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and no-one else in connection with the matters referred to on this website and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Investec or accordingly for providing advice in relation to any matters referred to on this website. Apart from the responsibilities and liabilities, if any, which may be imposed on Investec by the Financial Services and Markets Act 2000, as amended, or the regulatory regime established thereunder, Investec does not accept any responsibility whatsoever for the contents of this website or for any statement made or purported to be made by it, or on its behalf, in connection with the Company. Investec accordingly disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of such material or any such statement.

Use of Cookies

Please refer to Company's Cookies Policy for details on how cookies are used on this website.

Confirmation of understanding and acceptance of terms

Please select your country of residence:

Investment Week - Why tobacco is one of my favourite ever sectors

DISCLAIMER - IMPORTANT

Basis of access

Use of Cookies

Confirmation of understanding and acceptance of terms

DISCLAIMER - IMPORTANT

Basis of access

Use of Cookies

Confirmation of understanding and acceptance of terms