Terry Smith is the founder and chief executive of Fundsmith, and a leading UK fund manager. He is well-known for his Fundsmith Equity fund, which consistently tops the most popular funds lists, particularly Sharing Alpha's 'most popular funds in funds-of-funds' table.
Smith began his career at Barclays from 1973 to 1984, later joining Barclays de Zoete Wedd where he earned notoriety for writing a sell note on Barclays itself. In 1990, he joined UBS Phillips & Drew, but left following the publication of his book Accounting for Growth.
Smith moved to Collins Stewart in 1992 and in 2000 he became chief executive after leading an MBO. In 2003, Collins Stewart acquired Tullett Liberty and, in 2004, Prebon Group, creating Tullett Prebon, the world's second largest inter-dealer broker. In 2010, Smith set up Fundsmith, a fund management company headquartered in London. The business has one strategy, which it applies across the Fundsmith Equity Fund and Fundsmith Emerging Equities Trust.
Smith was made a Member of the New Zealand Order of Merit in 2012, after his work in recognising the contribution of Air Marshall Sir Keith Park during the Battle of Britain.
Annual letter to investors
Accusing HL of only caring about own profits
4,500 registered users
Largest trust IPO on record
Smashed initial target
The Bigger Picture on fund selection
Could be the biggest trust launch since Woodford trust
Been at firm since inception
Held since launch
SharingAlpha has revealed the top-rated funds by its fund selector users as at the end of April, with Terry Smith's £14.7bn Fundsmith Equity fund still the most popular in fund-of-funds portfolios.
42nd on The Sunday Times Rich List
According to AJ Bell Investcentre
For 12 months to March 2017
Similar strategy to £12bn Equity fund
Hoping to expand past 40% limit
Joined firm this month
'Brexit boom' creates record wealth
EMs saw significant ETF inflows
Funds with a minimum five year track record
Fundsmith tops the list
Four new entrants
Consumer confidence back to pre-Brexit levels
Criticises lack of manager ownership transparency
Key announcements over the break