Terry Smith: three shares I bought and why

Terry Smith, founder and chief executive of Fundsmith, explains the thinking behind a trio of big share purchases. The star fund manager, who owns lots of consumer goods companies, also reveals how much influence the macro-economic backdrop has on his decision making. Visit ii.co.uk/funds and ii.co.uk/stock-market-news for more investing insight and ideas. Risk warning: This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. The investments referred to may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. Past Performance is not a guide to future performance. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority Note: Lee Wild, interactive investor's head of equity strategy, has a small holding in Fundsmith Equity Follow us: Twitter:   / ii_couk   Facebook:   / weareii   LinkedIn:   / interactive-investor   Instagram:   / interactive_investor   Subscribe to the ii YouTube channel:    / @interactiveinvestoruk