Terry Smith

This year has been a difficult one for many active funds, but, as ever, a select group of portfolios continue to be backed en masse by buyers looking to deliver outperformance for clients.

Terry Smith's Fundsmith Emerging Equities trust invested just 15% of its portfolio in the five weeks since listing, as the manager takes a cautious approach to his first foray into emerging market investment.

The Fundsmith Emerging Equities trust will list on the London Stock Exchange tomorrow after raising £193m in its offer period.

Tullett Prebon has confirmed it is to replace Terry Smith as CEO once a "well advanced" succession planning process is finalised.

Fundsmith founder and City financier Terry Smith is planning to launch an investment trust focusing on emerging markets.

Terry Smith, manager of the Fundsmith Equity fund, has shared his surprise at the outperformance of the portfolio in 2012, saying he did not expect the fund to do so well in markets that have been flooded with liquidity by central banks.

SPAIN

Jupiter's Merlin multi-manager team, headed by CIO John Chatfeild-Roberts, have initiated a holding in Terry Smith's Fundsmith Equity fund as they increase their exposure to 'global titan' corporates.

Tullett Prebon CEO and Fundsmith founder Terry Smith discusses the latest UK government borrowing figures and policymakers' plans to stimulate growth.

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