FRC confirms Fundsmith as signatory to the UK Stewardship Code
6 September 2021: Fundsmith LLP, the fund manager founded by Terry Smith in 2010, has been confirmed by the Financial Reporting Council (FRC) as a signatory to the UK Stewardship Code.
Following a rigorous review process by the FRC, a third of applicants were rejected for not ‘addressing all the principles’ or ‘relying too heavily on policy statements’. As a successful signatory, Fundsmith better demonstrated its commitment to stewardship.
Terry Smith, Founder and Chief Executive of Fundsmith, commented:
“I am pleased that the work we do to integrate stewardship and environmental, social and governance (ESG) factors into the investment process of all our funds has been recognised by the FRC. More specifically, our Fundsmith Sustainable Equity Fund range now manages over $1bn of client assets and continues to gain considerable investor interest for its rigorous approach and excellent performance.”
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For further information please contact:
Charlotte Balbirnie
+44 (0)7989 528421
Caroline Villiers
+44 (0)7808 585184
About Fundsmith
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 offices in Mauritius and 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.