Terry Smith’s asset management company Fundsmith has appointed Conrad Rey, Greville Ward and Daniel Washburn as partners. These appointments are subject to FCA approval.
Rey serves as sales director at Fundsmith, responsible for relationships with intermediaries, while Ward manages relationships with high net worth individuals and international investors and Washburn, research analyst, works alongside Smith and head of Research, Julian Robins.
Smith (pictured) said: “All three have been with Fundsmith since inception and are core members of our team, having made significant contributions to the firm’s development. It is therefore appropriate that they should share directly in it, further aligning their interests with the success of the firm and our funds.”
“My existing fellow partners and I remain firmly in place and are delighted to expand our partnership. This is an important step in the development of Fundsmith, and one which will be followed by further initiatives to broaden and strengthen the firm as we seek to ensure we continue to provide a worthwhile service to our investors for a long time to come.”
Other partners include Terry Smith (CEO-CIO), Mark Laurence (COO), Simon Godwin (CFO) and Julian Robins.
As of end July 2018, AUM of the Fundsmith Equity fund reached £16.2bn and since inception, the strategy delivered net returns of 296.8% or 19.5% on an annualised basis.