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Manager change at Fundsmith Emerging Equity

Manager change at Fundsmith Emerging Equity – Michael O’Brien and Sandip Patodia have been promoted by Fundsmith LLP, following consultation with the board, to the roles of FEET’s portfolio manager (replacing Terry Smith) and assistant portfolio manager, respectively, with effect from 31 May 2019.

Michael and Sandip joined Fundsmith ahead of the launch of FEET in 2014 and have formed the core of the investment management team. Terry Smith, in his capacity as chief investment officer of Fundsmith LLP, will provide advice and support to Michael and Sandip, who will continue to draw on Terry’s decades of investment experience and expertise. Jonathan Imlah and Tom Boles will continue to assist as research analysts.

Amendment to investment management fee

The board has also agreed with Fundsmith a reduction in FEET’s annual fee from 1.25 per cent to 1.00 per cent of net asset value, with effect from 31 May 2019.

FEET : Manager change at Fundsmith Emerging Equity

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