Key facts
- Terry Smith has sold his entire stake in Magnum Ice Cream.
- Magnum Ice Cream was formerly a division of Unilever.
- Terry Smith also sold his stake in Unilever PLC.
- These sales occurred weeks apart.
- Unilever has undergone a strategic overhaul.
- A major merger involving McCormick has occurred.
Star fund manager Terry Smith has divested his entire stake in Magnum Ice Cream, the former division of Unilever. This decision comes just weeks after Smith sold off his holding in Unilever PLC. The sale of the Magnum stake follows a period of criticism directed at Unilever's strategic overhaul. Additionally, a major merger involving McCormick has recently taken place, potentially influencing Smith's investment decisions. Smith's exit from Magnum indicates a broader shift in his investment portfolio and sentiment towards Unilever's former assets.