Terry Smith to stand down as boss of Tullet Prebon and will concentrate on fund management business

4th June 2014

Terry Smith is to stand down as chief executive of City brokerage firm Tullet Prebon and will focus on his fund management operation Fundsmith which he founded in 2010. The Fundsmith Equity Fund exceeded £2 billion in May and has delivered an annualised return of 16.1% p.a. and a total return of 70.7% (T Class Accumulation Shares) since inception to 30th May 2014.

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The fund is 4th in the IMA Global sector out of 217 funds. Fundsmith is planning to launch the Fundsmith Emerging Equities Trust (‘FEET’) applying its investment methodology to developing economies with information available at www.feetplc.co.uk.

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