Fundsmith is focused on delivering superior investment performance at a reasonable cost. It was established to be different from its peers so as to achieve a different result in line with Sir John Templeton’s axiom that “If you want to have a better performance than the crowd, you must do things differently from the crowd.” The rigorous research process of Fundsmith is central to what we do. We apply exacting standards to potential investments to produce a portfolio of resilient businesses with excellent performance. Minimising the costs we incur on behalf of our customers in implementing our strategy also sits at the heart of our philosophy.
Fundsmith was established in 2010 by Terry Smith. The business is owned and controlled by its partners, who have worked closely together over many years, and is headquartered in London with an office in Connecticut, USA. It is structured to survive Terry Smith’s demise and continue with the same investment philosophy. All partners of the firm have a significant co-investment in our Funds delivering a clear alignment of interest. Ancillary activities are outsourced to some of the world's leading providers in order to deliver high quality operations whilst allowing the Fundsmith team to focus on the investment analysis and portfolio management and customer care. As at 31st December 2014 we managed £3.3bn in global equities on behalf of some of the world’s largest and most sophisticated wealth managers, families, private banks, financial intermediaries and individuals invested in our four funds, a UK OEIC, Fundsmith Equity Fund, a Luxembourg SICAV, Fundsmith Equity Fund Feeder, a Delaware L.P, Fundsmith Equity Fund L.P. and the Fundsmith Emerging Equities Trust, a London listed closed-end investment trust.
Terry Smith – Chief Executive & CIO
Terry Smith graduated in History from University College Cardiff in 1974. He worked for Barclays Bank from 1974-83 and became an Associate of the Chartered Institute of Bankers in 1976. He obtained an MBA at The Management College, Henley in 1979. He became a stockbroker with W Greenwell & Co in 1984 and was the top-rated bank analyst in London from 1984-89. In 1990 he became head of UK Company Research at UBS Phillips & Drew, a position from which he was dismissed in 1992 following the publication of his best selling book Accounting for Growth. He joined Collins Stewart shortly after, and became a director in 1996. In 2000 he became Chief Executive and led the management buy-out of Collins Stewart, which was floated on the London Stock Exchange five months later. In 2003 Collins Stewart acquired Tullett Liberty and followed this in 2004 with the acquisition of Prebon Group, creating the world's second largest inter-dealer broker. Collins Stewart and Tullett Prebon were demerged in 2006.
Mark Laurence – COO
Mark Laurence began his career as a transport sector investment analyst at Kitcat and Aitken in 1988 before moving to WI Carr and then Smith New Court (taken over by Merrill Lynch in 1995) where the team was ranked No.1 in the 1995 Extel Financial Survey of U.K. Investment Analysts. In 1995 he joined the highly ranked UK Equity Strategy Team. In 1997 he joined Collins Stewart as a special situations analyst before helping establish Collins Stewart Inc. in New York and the Group's move into UK private client broking with the acquisition of NatWest Private Clients from RBS in 2001. In 2003 he co-founded a real estate investment management boutique launching a long/short Pan European real estate securities fund in 2006. He is a non executive director of Dart Group PLC, a member of the endowment investment committee of King’s College University and a governor of Bryanston School in Dorset.
Simon Godwin – CFO
Simon Godwin is an experienced Chief Financial Officer, having experience in both the financial services and property sectors. Simon qualified as a Chartered Accountant with Deloitte Haskins & Sells. Whilst there, he focused on financial services companies, including banks and leasing companies. Having qualified, he moved to the Corporate Finance division of Schroders in 1992. During his time there, he completed a large number of acquisitions, disposals and capital raisings, both equity and debt, across a number of sectors. In 2004, he joined BNP Paribas where he lead the UK private equity advisory practice. On leaving banking in 2007, Simon became CFO of Real Office Group plc, an AIM listed company focused on interior fit outs which was bid for in 2008. Simon moved to Legacy Portfolio, which has structured a product to transfer the risk from, and minimise the cost of, surplus leases for corporates.
Julian Robins – Head of Research
Julian Robins started his career with the stockbroking firm EB Savory Milln in 1984. From 1987 until 1999, he worked for BZW and after their takeover of BZW’s equity business in 1998, CSFB. Between 1988 and 1993 he was BZW’s senior bank analyst in London, from 1993 until 1999, he worked as an institutional salesman in New York. In 1999 he was one of the founders of Collins Stewart’s New York office. He has 1st class degree in Modern History from Christ Church, Oxford and is qualified as a Series 7 Registered Representative and Series 24 General Securities Principal with FINRA.
Sales & Marketing Contacts
Greville Ward – Head of HNW & US Marketing
Greville Ward has worked for 25 years in European Equity sales, first in London for Laurie Milbank and then Savory Milln (with Julian Robins) before moving to New York in 1988 to work for BZW. In 1992 he joined Robert Fleming as Head of European and Eastern European Sales where he worked for 5 years. He subsequently joined Bankers Trust until their takeover by Deutsche Bank in 1999 following which he started the US operations of Collins Stewart with Julian Robins working again with Terry Smith. Since leaving Collins Stewart in 2007 and before joining Fundsmith, Greville worked for a London based Intelligence company.
High Net Worth and US based enquiries should be directed to Greville on 020 3551 6340 or email him at email@example.com.
Conrad Rey – Sales Director
Conrad formerly worked as an Investment Director at Standard Life Investments (London) where he was responsible for selling to Multi-Managers, Private Banks and Family Offices. Prior to this he worked for both Gartmore Fund Managers (Regional Sales Manager - London & South-East) and Prudential-Bache Securities (Regional Sales Co-Coordinator - Europe & Middle East). Conrad is the holder of the Investment Management Certificate (IMC) and General Securities Representative Exam (NYSE Series 7). He graduated from The University of Leeds (BA Hons Politics) and The London School Of Economics & Political Science (MSc. Soviet & Post Soviet Studies).
Intermediary enquiries should be directed to Conrad Rey on 020 3551 6343 or email him at firstname.lastname@example.org.
Peter Jackson – Sales Director
Peter joined Fundsmith from Franklin Templeton Investments where he was Regional Sales Manager responsible for retail sales and strategic partners. Prior to Franklin Templeton Peter was Business Development Director for Aegon Asset Management. He began his career in the life assurance industry in 1990 working for Britannia, Scottish Equitable, National Mutual and Legal & General before spending 8 years at Axa Wealth where he latterly became a Corporate Investment Consultant. Peter holds a Certificate in Financial Planning from the Chartered Insurance Institute.
Intermediary enquiries should be directed to Peter on 020 3551 6338 or email him at email@example.com.
Hugo Cardale – Sales and Account Manager
Hugo graduated from Newcastle University in 2011 with a 2.1 BA (Hons) in Economics and recently passed the Investment Management Certificate from the CFA Society of the UK. Whilst at university he set up an ice cream van business, Mr Whippies Whippilicious Whips, to finance his studies by selling ice creams over the summer months.
High Net Worth and Family Office enquiries should be directed to Hugo on 020 3551 6338 or email him at firstname.lastname@example.org.