Terry Smith personally backs Fundsmith investment trust launch with £25m

It is seeking to raise up to £250m via a placing, an offer for subscription and an intermediaries offer of ordinary shares, while a twelve month placing programme will also be launched. The trust will focus on companies with a market cap of between £500m and £15bn, with an average of £7bn. The Smithson investment management team will be led by Simon Barnard as investment manager and Will Morgan as assistant investment manager, who both joined the group from Goldman Sachs. Fundsmith founder and CIO Terry Smith will provide advice and support to the managers. Jonathan Imlah will assist ...