Fundsmith and Aditum Launch UAE Domiciled Feeder Fund
Fundsmith LLP, the fund manager founded by Terry Smith in 2010, has launched a new feeder fund, the Fundsmith Global Equity Fund IC Open Ended Plc, in partnership with Aditum Investment Management Limited, a leading DFSA-regulated asset management firm.
Fundsmith Global Equity Fund IC Open Ended Plc will provide UAE based clients access to Fundsmith’s flagship global equity strategy through a master / feeder fund structure investing in the Fundsmith Equity Fund, a sub-fund of the Fundsmith SICAV. The new fund is managed with the same process as Fundsmith Equity Fund, the largest active equity mutual fund in UK.
Fundsmith Global Equity Fund IC Open Ended Plc offers investors a high quality, concentrated portfolio of 20-30 resilient, global growth companies which are held for the long term.
Peter Jackson, Partner at Fundsmith, commented:
“We have seen increasing interest from the UAE in Fundsmith’s high conviction strategy and are very pleased with how efficiently and quickly the fund has become a reality.”
David Marshall, Aditum’s SEO said:
“We are delighted that Fundsmith has selected Aditum to provide the platform for accessing the UAE market. We believe the underlying strategy is perfect for clients seeking exposure to global equities through a market leading firm which manages the largest retail fund in the UK.”
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For further information please contact:
Charlotte Balbirnie
+44 (0)7989 528421
CBalbirnie@keplercomms.com
Caroline Villiers
+44 (0)7808 585184
CVilliers@keplercomms.com
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.