Terry Smith pockets £8m as Fundsmith profits soar

For 12 months to March 2017

Well-known fund manager Terry Smith took home £8.1m during the 12 months to March 2017, as his company Fundsmith reported profits jumped to £14.2m over the period, according to new figures published this week.

According to accounts on Companies House, Fundsmith's profits for  the year soared from £2.8m reported for the previous 12-month period. Turnover almost doubled from £41.6m to £81.7m compared to the previous year, while assets under management soared from £5.9bn to £11.08bn. As at 31 March 2017, the company's five partners were Terry Smith - who owns around 50% of the business - Mark Laurence, Simon Godwin, International Value Investments and NoLeLu II. The successful year for the business meant Smith's profit entitlement rose from just £1.6m the previous year to £8.1m. Fundsmit...