# Fundsmith

Fundsmith is an Asset Manager based in London, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** fundsmith.co.uk
- **LinkedIn:** https://www.linkedin.com/company/fundsmith-llp

## Regulatory record

- **CRD number:** 160365
- **SEC file number:** 801-79120
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/160365

## About

FUNDSMITH, LLP is an SEC-registered investment adviser in LONDON, registered since 2014. The firm manages approximately $30.6 billion in regulatory assets. It has 43 employees and 5 investment advisers.

## Sectors

- Consumer Staples
- Healthcare
- Technology
- Consumer Discretionary

## Offices

- Mauritius

## People

- Terry Smith — Chief Executive Officer and Chief Investment Officer

## Questions

### Who makes investment decisions at Fundsmith?

Terry Smith serves as Chief Executive Officer and Chief Investment Officer, leading a small analyst team from the firm's London headquarters. The concentrated portfolio of 20–30 names reflects his direct oversight. No external investment committee or parent-company mandate overrides the internal team.

### How does Fundsmith source investment ideas?

The firm screens for publicly traded companies with high returns on capital, strong free-cash-flow generation, and durable competitive advantages. Idea generation leans on fundamental analysis of financial statements rather than broker research or momentum signals. Once a position is established, the typical holding period runs multiple years, with the team making only a handful of changes annually.

### What differentiates Fundsmith from competing UK equity-income or global-growth funds?

Fundsmith operates as a private partnership without a distribution parent pushing product launches or quarterly flow targets. Employee capital is co-invested alongside external investors, and the firm retains the ability to soft-close strategies when capacity tightens. The resulting portfolio structure — 20–30 names, sub-5% annual turnover — contrasts with peer funds that run 60-to-100-stock books with higher rebalancing costs.

### How is Fundsmith's ownership structured?

Terry Smith and senior colleagues hold a controlling equity stake in the firm. It has not taken external institutional capital or been folded into a multi-boutique asset aggregator. This independent governance allows the investment team to set fee structures, capacity limits, and product-launch cadence without external reporting pressure.

## Related profiles

- [Liberty Park Capital Management](https://altss.com/profile/liberty-park-capital-management-llc)

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Last updated: 2026-06-03T20:00:00.000Z

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