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Tullett Prebon’s CEO to stand down
04 June 2014
Leaving to focus on Fundsmith
Tullett Prebon’s CEO, Terry Smith, intends to
stand down from his position.
He will focus on asset management firm, Fundsmith, which he
founded in 2010.
The Fundsmith equity fund reached £2bn
($3.35bn) in assets under management in May, having
delivered an annualised return of 16.1% per annum and a total
return of 70.7% (T Class Accumulation Shares) since inception
to May 30 2014.
The fund outperformed the
MSCI World Index by 26% and the average IMA Global equity fund
Fundsmith is also planning to launch the Fundsmith Emerging
Equities Trust in June.