Fundsmith pays partners £14m after bumper year

Profits up 19% in year to March 2015

Fundsmith, founded by veteran investor Terry Smith, has paid £14m to its five partners after a strong year for the firm.

According to the Telegraph, the firm saw revenues rise 73% to £26.3m in the year to March 2015, while profits increased 19% to £12.6m. Payments to its five partners were £13.7m, up from £9.5m the previous year. The largest individual payment was £6.8m. Staff at the firm, which doubled to 12 people, were paid on average £220,000 each, according to the report. Smith (pictured), who was formerly chief executive of Tullett Prebon, set up Fundsmith in 2010 and currently runs one fund; the £4.6bn Fundsmith Equity fund, which was launched the same year. The fund has only 28 holdings an...