Fundsmith Emerging Equities Trust plc (FEET) 2021年年度报告「LSE」.pdf

1、Fundsmith Emerging Equities Trust plc Annual Report for the year ended 31 December 2021 A member of the Association of Investment Companies Perivan 262639Fundsmith Emer ging Equities Tr ust plc 33 Cavendish Squar e,London W1G 0PW www.feetplc.co.ukAnnual Reportfor the year ended 31 December 2021Funds

2、mith Emerging Equities Trust plcDisability Act Copies of this annual report and other documents issued by the Company are available from the Company Secretary.If needed,copies can be made available in a variety of formats,including braille,audio tape or larger type as appropriate.You can contact the

3、 Registrar to the Company,Link Registrars,which has installed telephones to allow speech and hearing impaired people who have their own telephone to contact them directly,without the need for an intermediate operator,for this service please call 0800 731 1888.Specially trained operators are availabl

4、e during normal business hours to answer queries via this service.Alternatively,if you prefer to go through a typetalk operator(provided by RNID)you should dial 18001 from your textphone followed by the number you wish to dial.This report is printed on Revive 100%White Silk a totally recycled paper

5、produced using 100%recycled waste at a mill that has been awarded the ISO 14001 certificate for environmental management.The pulp is bleached using a totally chlorine free(TCF)process.1Fundsmith Emerging Equities Trust plc Annual Report for the year ended 31 December 2021Contents1 Strategic Report 2

6、Company Summary 3Financial Highlights 5Chairmans Statement 9Investment Objective and Policy 10Investment Portfolio 12Investment Managers Review 29Investment Philosophy 32Business Review2 Governance 38Board of Directors 41Corporate Governance Report 50Report of the Directors 54Statement of Directors